Graco Inc.

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SEC Filings

10-Q
GRACO INC filed this Form 10-Q on 04/26/2017
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Page 5 GRACO


GRACO INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)
(In thousands except per share amounts)
 
Three Months Ended
 
Mar 31,
2017
 
Mar 25,
2016
Net Sales
$
340,590

 
$
304,912

Cost of products sold
155,317

 
143,116

Gross Profit
185,273

 
161,796

Product development
14,499

 
14,686

Selling, marketing and distribution
54,911

 
52,701

General and administrative
30,042

 
33,460

Operating Earnings
85,821

 
60,949

Interest expense
4,055

 
4,493

Other expense (income), net
191

 
(1,146
)
Earnings Before Income Taxes
81,575

 
57,602

Income taxes
20,843

 
18,050

Net Earnings
$
60,732

 
$
39,552

Net Earnings per Common Share
 
 
 
Basic
$
1.09

 
$
0.71

Diluted
$
1.05

 
$
0.70

Weighted Average Number of Shares
 
 
 
Basic
55,768

 
55,394

Diluted
57,712

 
56,709


SEGMENT INFORMATION (Unaudited)
(In thousands)
 
Three Months Ended
 
Mar 31,
2017
 
Mar 25,
2016
Net Sales
 
 
 
Industrial
$
156,390

 
$
147,088

Process
70,029

 
64,285

Contractor
114,171

 
93,539

Total
$
340,590

 
$
304,912

Operating Earnings
 
 
 
Industrial
$
53,735

 
$
45,794

Process
13,463

 
7,277

Contractor
26,019

 
16,743

Unallocated corporate (expense)
(7,396
)
 
(8,865
)
Total
$
85,821

 
$
60,949


The Consolidated Balance Sheets, Consolidated Statements of Cash Flows and Management's Discussion and Analysis are available in our Quarterly Report on Form 10-Q on our website at www.graco.com.

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