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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Net sales $ 71,635 $ 97,201 $ 221,043 $ 305,499
Cost of sales 43,342 54,042 137,785 166,493
Gross profit 28,293 43,159 83,258 139,006
Operating expenses 26,669 28,025 76,949 84,823
Operating income 1,624 15,134 6,309 54,183
Interest expense 804 464 2,292 1,712
Less interest capitalized (25) (20) (56) (245)
Income before income taxes and loss on equity investment 845 14,690 4,073 52,716
Income taxes expense 0 5,559 856 18,500
Income before loss on equity investment 845 9,131 3,217 34,216
Deduct net loss from equity method investment (237) (386) (633) (386)
Net income 608 8,745 2,584 33,830
Add back net loss attributable to non-controlling interest 124 125 452 341
Net income attributable to American Vanguard 732 8,870 3,036 34,171
Change in fair value of interest rate swaps 145 133 426 485
Foreign currency translation adjustment (491) (126) (348) (195)
Comprehensive income $ 386 $ 8,877 $ 3,114 $ 34,461
Earnings per common share-basic $ 0.03 $ 0.31 $ 0.11 $ 1.21
Earnings per common share-assuming dilution $ 0.03 $ 0.31 $ 0.11 $ 1.18
Weighted average shares outstanding-basic 28,466 28,322 28,422 28,295
Weighted average shares outstanding-assuming dilution 28,797 28,889 28,888 28,890