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Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 24, 2017
Jun. 25, 2016
Jun. 24, 2017
Jun. 25, 2016
Net Sales $ 295,415 $ 277,981 $ 767,498 $ 730,541
Cost of goods sold [1] 200,651 185,895 534,022 505,871
Gross Profit 94,764 92,086 233,476 224,670
Operating expenses        
Marketing [2] 25,571 23,721 67,435 63,714
Distribution [3] 21,865 19,006 58,537 54,784
Administrative [4] 9,588 8,530 26,404 23,857
Other general expense (60) 392 (138) 239
Total operating expenses 56,964 51,649 152,238 142,594
Operating Income 37,800 40,437 81,238 82,076
Other income (expense)        
Investment income 1,422 981 3,824 3,118
Interest expense & other (80) (31) (651) (94)
Earnings before income taxes 39,142 41,387 84,411 85,100
Income taxes 13,838 14,596 29,580 29,743
NET EARNINGS $ 25,304 $ 26,791 $ 54,831 $ 55,357
Earnings per diluted share (in dollars per share) $ 1.34 $ 1.43 $ 2.91 $ 2.95
Weighted average number of diluted shares (in shares) 18,846 18,705 18,818 18,765
Earnings per basic share (in dollars per share) $ 1.35 $ 1.44 $ 2.93 $ 2.97
Weighted average number of basic shares (in shares) 18,727 18,615 18,708 18,646
[1] Includes share-based compensation expense of $192 and $529 for the three months and nine months ended June 24, 2017, respectively and $174 and $445 for the three months and nine months ended June 25, 2016.
[2] Includes share-based compensation expense of $277 and $763 for the three months and nine months ended June 24,2017, respectively and $264 and $673 for the three months and nine months ended June 25, 2016.
[3] Includes share-based compensation expense of $19 and $52 for the three months and nine months ended June 24, 2017, respectively and $13 and $35 for the three months and nine months ended June 25, 2016.
[4] Includes share-based compensation expense of $323 and $896 for the three months and nine months ended June 24, 2017, respectively and $228 and $581 for the three months and nine months ended June 25, 2016.