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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net sales:        
Total net sales $ 440,694 $ 396,214 $ 852,465 $ 758,219
Cost of sales 322,620 296,497 621,884 571,861
Gross profit 118,074 99,717 230,581 186,358
Selling, general and administrative expenses 59,858 55,009 119,526 108,644
Amortization expense 3,824 3,792 7,639 7,679
Income from operations 54,392 40,916 103,416 70,035
Interest expense (6,837) (3,189) (12,777) (5,836)
Interest income 357 57 740 129
Other income (expense), net (1,046) (134) (44) (1,886)
Income before income taxes 46,866 37,650 91,335 62,442
Provision for income taxes 10,492 9,178 21,612 15,500
Net Income $ 36,374 $ 28,472 $ 69,723 $ 46,942
Net income per common share:        
Basic (in dollars per share) $ 3.05 $ 2.39 $ 5.85 $ 3.95
Diluted (in dollars per share) $ 3.03 $ 2.39 $ 5.82 $ 3.94
Average common shares:        
Basic (in shares) 11,921 11,880 11,910 11,870
Diluted (in shares) 11,993 11,938 11,977 11,927
Dividends declared (in dollars per share) $ 0.22 $ 0.18 $ 0.44 $ 0.36
Vegetation Management        
Net sales:        
Total net sales $ 261,346 $ 255,003 $ 517,781 $ 476,009
Income from operations 35,561 32,796 72,069 51,130
Industrial Equipment        
Net sales:        
Total net sales 179,348 141,211 334,684 282,210
Income from operations $ 18,831 $ 8,120 $ 31,347 $ 18,905