ITEM 6 - Selected Financial Data
The following data has been derived from the Company’s audited consolidated financial statements. The data should be read in conjunction with such consolidated financial statements and other financial information appearing elsewhere herein.
| Year ended August 31, | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (in thousands, except per share amounts) | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||
| Net sales1 | $ | 307,816 | $ | 286,916 | $ | 263,227 | $ | 242,467 | $ | 238,140 | |||||||||
| Cost of products sold | 158,954 | 148,516 | 133,833 | 116,944 | 115,928 | ||||||||||||||
| Gross profit | 148,862 | 138,400 | 129,394 | 125,523 | 122,212 | ||||||||||||||
| Operating expenses | 99,846 | 92,378 | 81,974 | 80,074 | 72,460 | ||||||||||||||
| Income from operations | 49,016 | 46,022 | 47,420 | 45,449 | 49,752 | ||||||||||||||
| Interest and other (expense) income, net | (1,841 | ) | (3,164 | ) | (4,555 | ) | (6,596 | ) | (6,357 | ) | |||||||||
| Income before income taxes | 47,175 | 42,858 | 42,865 | 38,853 | 43,395 | ||||||||||||||
| Provision for income taxes | 15,641 | 14,746 | 15,067 | 13,210 | 14,754 | ||||||||||||||
| Net income | $ | 31,534 | $ | 28,112 | $ | 27,798 | $ | 25,643 | $ | 28,641 | |||||||||
| Earnings per common share Basic |
$ | 1.85 | $ | 1.67 | $ | 1.67 | $ | 1.52 | $ | 1.73 | |||||||||
| Diluted | $ | 1.83 | $ | 1.66 | $ | 1.65 | $ | 1.50 | $ | 1.71 | |||||||||
| Dividends per share | $ | 0.97 | $ | 0.88 | $ | 0.84 | $ | 0.80 | $ | 0.80 | |||||||||
| Total assets | $ | 283,186 | $ | 268,475 | $ | 254,253 | $ | 236,775 | $ | 236,658 | |||||||||
| Long-term obligations2 | $ | 61,057 | $ | 69,077 | $ | 77,487 | $ | 81,822 | $ | 86,781 | |||||||||
1 The Company completed the acquisition of the 1001 business (1001) during fiscal year 2004. Sales of the 1001 brand added $11.2 million, $9.4 million, $8.9 million and $3.2 million in household products sales in fiscal years 2007, 2006, 2005 and 2004, respectively.
2 Long-term obligations include long-term debt, deferred employee benefits and other long-term liabilities and long-term deferred tax liabilities, net.