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Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016
Income Statement [Abstract] |  |  |  |  |
Sales |  | $ 87,892 | $ 82,174 | $ 179,237 | $ 159,365
Less: excise taxes |  | 2,139 | 1,782 | 6,315 | 2,138
Net sales |  | 85,753 | 80,392 | 172,922 | 157,227
Cost of sales | [1] | 66,928 | 64,861 | 135,056 | 124,650
Gross profit |  | 18,825 | 15,531 | 37,866 | 32,577
Selling, general and administrative expenses |  | 8,311 | 6,404 | 15,960 | 12,725
Operating income |  | 10,514 | 9,127 | 21,906 | 19,852
Equity method investment earnings (loss) |  | (819) | 1,079 | (348) | 1,596
Interest expense, net |  | (379) | (328) | (710) | (639)
Income before income taxes |  | 9,316 | 9,878 | 20,848 | 20,809
Income tax expense |  | 2,947 | 3,570 | 5,801 | 7,442
Net income |  | 6,369 | 6,308 | 15,047 | 13,367
Income attributable to participating securities |  | 183 | 240 | 433 | 506
Net income attributable to common shareholders and used in EPS calculation |  | $ 6,186 | $ 6,068 | $ 14,614 | $ 12,861
Share information: |  |  |  |  |
Diluted weighted average common shares (in shares) |  | 16,745,679 | 16,617,857 | 16,727,305 | 16,612,416
Basic and diluted earnings per common share (in usd per share) |  | $ 0.37 | $ 0.37 | $ 0.87 | $ 0.77
Dividends and dividend equivalents per common share (in usd per share) |  | $ 0.04 | $ 0 | $ 0.08 | $ 0.08
[1] | Includes related party purchases of $9,180 and $6,698 for the quarters ended June 30, 2017 and 2016, respectively. Includes related party purchases of $18,425 and $12,939 for the year to date periods ended June 30, 2017 and 2016, respectively.

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- Definition Aggregate dividends paid 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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