With solid cash generated from operations, we repaid $24 million of acquisition debt, closing the year at $116 million of debt outstanding.

72% EPS Growth

over 2016

2017 Adjusted EPS of $1.60 increased $0.67 over 2016

Net Sales (In Millions)

  • $350
  • $300
  • $250
  • $200
  • $150
  • $100
  • $50
  • $0
  • 13 $205.3
  • 14 $227.7
  • 15 $200.7
  • 16 $196.9
  • 17 $342.8

Cash from Operations (In Millions)

  • $80
  • $70
  • $60
  • $50
  • $40
  • $30
  • $20
  • $10
  • $0
  • 13 $47.1
  • 14 $62.8
  • 15 $49.9
  • 16 $38.5
  • 17 $49.4

Adjusted Operating Margin (As a Percent)

  • 35%
  • 30%
  • 25%
  • 20%
  • 15%
  • 10%
  • 5%
  • 0%
  • 13 27.4%
  • 14 28.1%
  • 15 23.4%
  • 16 19.6%
  • 17 22.5%

Adjusted EBITDA Margin (As a Percent)

  • 35%
  • 30%
  • 25%
  • 20%
  • 15%
  • 10%
  • 5%
  • 0%
  • 13 30.9%
  • 14 32.0%
  • 15 28.6%
  • 16 24.4%
  • 17 25.4%
In Thousands Except Per Share Data Reporting Year 2017 2016 2015 2014 2013
Statement of Operations
Net sales $342,839 $196,934 $200,727 $227,673 $205,267
Gross profit 136,525 71,349 77,093 93,892 82,961
Operating income 61,491 34,459 46,891 64,071 56,171
Adjusted operating income 77,076 38,562 46,891 64,071 56,171
Net income 31,558 23,304 33,138 43,775 37,984
Adjusted net income 43,168 25,018 33,138 43,775 37,984
Basic and diluted net income per common share $1.17 $0.87 $1.24 $1.65 $1.45
Diluted adjusted net income per common share $1.60 $0.93 $1.24 $1.65 $1.45
Dividends per common share $0.38 $0.40 $0.45 $1.45 $0.45
Other Financial Data
Depreciation and amortization $19,190 $11,318 $9,557 $8,718 $7,227
Capital expenditures 22,205 6,187 6,106 10,667 17,935
Balance Sheet Data
Cash and cash equivalents $63,882 $74,221 $81,932 $56,843 $54,912
Working capital 100,913 110,192 145,336 119,815 115,038
Total assets 459,766 444,777 241,540 222,764 213,478
Total debt 116,000 140,000
Shareholders’ equity 272,673 236,397 222,187 198,259 191,428
% of Sales
Gross margin 39.8% 36.2% 38.4% 41.2% 40.4%
Adjusted operating margin 22.5% 19.6% 23.4% 28.1% 27.4%
Adjusted net income margin 12.6% 12.7% 16.5% 19.2% 18.5%