Item 6. Selected Financial Data
The following data has been derived from the Company’s audited consolidated financial statements as of and for the fiscal years ended August 31. The data should be read in conjunction with such consolidated financial statements and other financial information included elsewhere in this report (in thousands, except per share amounts):
| 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales (1) | $ | 317,118 | $ | 307,816 | $ | 286,916 | $ | 263,227 | $ | 242,467 | |||||||||
| Cost of products sold | 168,848 | 158,954 | 148,516 | 133,833 | 116,944 | ||||||||||||||
| Gross profit | 148,270 | 148,862 | 138,400 | 129,394 | 125,523 | ||||||||||||||
| Operating expenses | 105,574 | 99,846 | 92,378 | 81,974 | 80,074 | ||||||||||||||
| Income from operations | 42,696 | 49,016 | 46,022 | 47,420 | 45,449 | ||||||||||||||
| Interest and other (expense) income, net | (697 | ) | (1,841 | ) | (3,164 | ) | (4,555 | ) | (6,596 | ) | |||||||||
| Income before income taxes | 41,999 | 47,175 | 42,858 | 42,865 | 38,853 | ||||||||||||||
| Provision for income taxes | 14,377 | 15,641 | 14,746 | 15,067 | 13,210 | ||||||||||||||
| Net income | $ | 27,622 | $ | 31,534 | $ | 28,112 | $ | 27,798 | $ | 25,643 | |||||||||
| Earnings per common share: Basic |
$ | 1.66 | $ | 1.85 | $ | 1.67 | $ | 1.67 | $ | 1.52 | |||||||||
| Diluted | $ | 1.64 | $ | 1.83 | $ | 1.66 | $ | 1.65 | $ | 1.50 | |||||||||
| Dividends per share | $ | 1.00 | $ | 0.97 | $ | 0.88 | $ | 0.84 | $ | 0.80 | |||||||||
| Total assets | $ | 270,673 | $ | 283,186 | $ | 268,475 | $ | 254,253 | $ | 236,775 | |||||||||
| Long-term obligations (2) | $ | 52,118 | $ | 61,057 | $ | 69,077 | $ | 77,487 | $ | 81,822 | |||||||||
| (1) | The Company completed the acquisition of the 1001 business (1001) during fiscal year 2004. Sales of the 1001 brand added $10.7 million, $11.2 million, $9.4 million, $8.9 million and $3.2 million in sales of homecare and cleaning products in fiscal years 2008, 2007, 2006, 2005 and 2004, respectively. |
| (2) | Long-term obligations include long-term debt, long-term deferred tax liabilities, net and deferred employee benefits and other long-term liabilities. |