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v3.10.0.1

Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017
Net sales: |  |  |  |
Net sales | $ 257,572 | $ 240,455 | $ 752,784 | $ 669,120
Cost of sales | 190,800 | 175,516 | 559,301 | 495,338
Gross profit | 66,772 | 64,939 | 193,483 | 173,782
Selling, general and administrative expenses | 38,523 | 37,178 | 117,087 | 105,463
Income from operations | 28,249 | 27,761 | 76,396 | 68,319
Interest expense | (1,399) | (1,414) | (4,233) | (4,241)
Interest income | 100 | 100 | 309 | 257
Other income (expense) | (265) | (1,561) | (491) | (2,734)
Income before income taxes | 26,685 | 24,886 | 71,981 | 61,601
Provision for income taxes | 3,142 | 8,294 | 15,084 | 20,526
Net Income | $ 23,543 | $ 16,592 | $ 56,897 | $ 41,075
Net income per common share: |  |  |  |
Basic (in dollars per share) | $ 2.01 | $ 1.43 | $ 4.88 | $ 3.56
Diluted (in dollars per share) | $ 2.00 | $ 1.42 | $ 4.84 | $ 3.52
Average common shares: |  |  |  |
Basic (in shares) | 11,689 | 11,586 | 11,649 | 11,535
Diluted (in shares) | 11,777 | 11,708 | 11,758 | 11,666
Dividends declared (in dollars per share) | $ 0.11 | $ 0.10 | $ 0.33 | $ 0.30
Industrial |  |  |  |
Net sales: |  |  |  |
Net sales | $ 156,721 | $ 132,388 | $ 438,919 | $ 375,546
Income from operations | 18,351 | 14,941 | 46,316 | 38,563
Agricultural |  |  |  |
Net sales: |  |  |  |
Net sales | 61,464 | 64,923 | 179,182 | 170,921
Income from operations | 6,608 | 8,598 | 18,047 | 19,315
European |  |  |  |
Net sales: |  |  |  |
Net sales | 39,387 | 43,144 | 134,683 | 122,653
Income from operations | $ 3,290 | $ 4,222 | $ 12,033 | $ 10,441

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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 + Details
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