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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, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net sales:        
Total net sales $ 416,303 $ 440,694 $ 841,889 $ 852,465
Cost of sales 308,122 322,620 622,076 621,884
Gross profit 108,181 118,074 219,813 230,581
Selling, general and administrative expenses 60,817 59,858 121,411 119,526
Amortization expense 4,055 3,824 8,114 7,639
Income from operations 43,309 54,392 90,288 103,416
Interest expense (6,098) (6,837) (12,189) (12,777)
Interest income 514 357 1,315 740
Other income (expense), net (65) (1,046) 33 (44)
Income before income taxes 37,660 46,866 79,447 91,335
Provision for income taxes 9,336 10,492 19,003 21,612
Net Income $ 28,324 $ 36,374 $ 60,444 $ 69,723
Net income per common share:        
Basic (in dollars per share) $ 2.36 $ 3.05 $ 5.05 $ 5.85
Diluted (in dollars per share) $ 2.35 $ 3.03 $ 5.02 $ 5.82
Average common shares:        
Basic (in shares) 11,974 11,921 11,959 11,910
Diluted (in shares) 12,044 11,993 12,032 11,977
Dividends declared (in dollars per share) $ 0.26 $ 0.22 $ 0.52 $ 0.44
Vegetation Management        
Net sales:        
Total net sales $ 211,535 $ 261,346 $ 435,282 $ 517,781
Income from operations 16,006 35,561 37,685 72,069
Industrial Equipment        
Net sales:        
Total net sales 204,768 179,348 406,607 334,684
Income from operations $ 27,303 $ 18,831 $ 52,603 $ 31,347