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Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 30, 2019
Mar. 31, 2018
Mar. 30, 2019
Mar. 31, 2018
Net Sales $ 276,302 $ 266,101 $ 547,914 $ 531,311
Cost of goods sold [1] 197,054 188,823 391,803 380,754
Gross Profit 79,248 77,278 156,111 150,557
Operating expenses        
Marketing [2] 21,952 22,507 43,394 44,083
Distribution [3] 22,122 22,417 46,074 43,576
Administrative [4] 9,998 9,004 19,241 18,360
Other general expense(income) 405 (191) 549 (231)
Total Operating Expenses 54,477 53,737 109,258 105,788
Operating Income 24,771 23,541 46,853 44,769
Other income (expense)        
Investment income 2,782 1,493 3,822 2,982
Interest expense & other (25) (33) (52) 476
Earnings before income taxes 27,528 25,001 50,623 48,227
Income taxes 7,174 7,168 12,743 (5,855)
NET EARNINGS $ 20,354 $ 17,833 $ 37,880 $ 54,082
Earnings per diluted share (in dollars per share) $ 1.08 $ 0.95 $ 2 $ 2.88
Weighted average number of diluted shares (in shares) 18,891 18,803 18,894 18,790
Earnings per basic share (in dollars per share) $ 1.08 $ 0.95 $ 2.02 $ 2.90
Weighted average number of basic shares (in shares) 18,795 18,685 18,780 18,675
[1] Includes share-based compensation expense of $225 and $464 for the three months and six months ended March 30, 2019, respectively and $199 and $417 for the three months and six months ended March 31, 2018.
[2] Includes share-based compensation expense of $325 and $670 for the three months and six months ended March 30,2019, respectively and $309 and $648 for the three months and six months ended March 31, 2018.
[3] Includes share-based compensation expense of $20 and $41 for the three months and six months ended March 30, 2019, respectively and $17 and $37 for the three months and six months ended March 31, 2018.
[4] Includes share-based compensation expense of $390 and $756 for the three months and six months ended March 30, 2019, respectively and $389 and $766 for the three months and six months ended March 31, 2018.