Graco Inc.

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SEC Filings

8-K
GRACO INC filed this Form 8-K on 01/30/2017
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Page 6 GRACO


GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)
(In thousands except per share amounts)
 
Quarter Ended
 
Year Ended
 
Dec 30,
2016
 
Dec 25,
2015
 
Dec 30,
2016
 
Dec 25,
2015
Net Sales
$
349,063

 
$
325,557

 
$
1,329,293

 
$
1,286,485

Cost of products sold
164,359

 
153,805

 
621,054

 
601,785

Gross Profit
184,704

 
171,752

 
708,239

 
684,700

Product development
15,642

 
13,579

 
60,606

 
58,559

Selling, marketing and distribution
57,147

 
51,931

 
215,253

 
201,855

General and administrative
26,771

 
30,166

 
126,481

 
122,161

Impairment
192,020

 

 
192,020

 

Operating Earnings (Loss)
(106,876
)
 
76,076

 
113,879

 
302,125

Interest expense
4,122

 
4,190

 
17,590

 
17,643

Held separate investment (income), net

 
(891
)
 

 
(191,635
)
Other expense (income), net
(28
)
 
(257
)
 
(366
)
 
1,404

Earnings (Loss) Before Income Taxes
(110,970
)
 
73,034

 
96,655

 
474,713

Income taxes
(6,757
)
 
19,490

 
55,981

 
129,000

Net Earnings (Loss)
$
(104,213
)
 
$
53,544

 
$
40,674

 
$
345,713

Net Earnings (Loss) per Common Share
 
 
 
 
 
 
 
Basic
$
(1.87
)
 
$
0.96

 
$
0.73

 
$
6.00

Diluted
$
(1.83
)
 
$
0.94

 
$
0.71

 
$
5.86

Weighted Average Number of Shares
 
 
 
 
 
 
 
Basic
55,745

 
55,898

 
55,617

 
57,610

Diluted
57,103

 
57,257

 
56,960

 
59,007


SEGMENT INFORMATION (Unaudited)
(In thousands)
 
Quarter Ended
 
Year Ended
 
Dec 30,
2016
 
Dec 25,
2015
 
Dec 30,
2016
 
Dec 25,
2015
Net Sales
 
 
 
 
 
 
 
Industrial
$
174,603

 
$
167,137

 
$
629,581

 
$
616,069

Process
70,562

 
69,294

 
266,630

 
273,631

Contractor
103,898

 
89,126

 
433,082

 
396,785

Total Sales
$
349,063

 
$
325,557

 
$
1,329,293

 
$
1,286,485

Operating Earnings
 
 
 
 
 
 
 
Industrial
$
59,764

 
$
57,249

 
$
207,183

 
$
201,749

Process
10,445

 
8,910

 
35,750

 
43,833

Contractor
20,137

 
15,897

 
91,837

 
86,447

Unallocated corporate (expense)
(5,202
)
 
(5,980
)
 
(28,871
)
 
(29,904
)
Impairment
(192,020
)
 

 
(192,020
)
 

Total Operating Earnings (Loss)
$
(106,876
)
 
$
76,076

 
$
113,879

 
$
302,125




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