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v3.6.0.2

Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Net sales | $ 592,619 | $ 587,670 | $ 586,010
Cost of sales | 375,719 | 373,284 | 373,129
Gross margin | 216,900 | 214,386 | 212,881
Distribution expenses | 57,006 | 54,815 | 54,202
Selling, general and administrative expenses | 130,397 | 134,903 | 133,786
Intangible asset impairment (Note E) |  |  | 3,384
Restructuring expenses | 2,420 | 437 | 125
Income from operations | 27,077 | 24,231 | 21,384
Interest expense (Note F) | (4,803) | (5,746) | (6,418)
Financing expense |  | (154) | (758)
Loss on early retirement of debt (Note F) | (272) |  | (346)
Income before income taxes and equity in earnings | 22,002 | 18,331 | 13,862
Income tax provision (Note J) | (7,030) | (6,627) | (5,825)
Equity in earnings (losses), net of taxes (Note D) | 748 | 574 | (6,493)
NET INCOME | $ 15,720 | $ 12,278 | $ 1,544
BASIC INCOME PER COMMON SHARE (NOTE I) | $ 1.11 | $ 0.89 | $ 0.11
DILUTED INCOME PER COMMON SHARE (NOTE I) | $ 1.08 | $ 0.86 | $ 0.11

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