Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income (Unaudited)

 v2.3.0.11
Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Consolidated Statements of Income [Abstract]        
Product sales $ 750,092 $ 589,373 $ 1,426,881 $ 1,116,595
Shipping & handling revenues 129,562 99,433 247,869 190,844
Net sales 879,654 688,806 1,674,750 1,307,439
Cost of sales 171,023 136,561 333,816 277,033
Gross Profit 708,631 552,245 1,340,934 1,030,406
Royalty overrides 289,232 224,780 553,609 432,099
Selling, general & administrative expenses 266,225 211,110 510,751 417,993
Operating income 153,174 116,355 276,574 180,314
Interest expense, net 855 2,146 3,503 4,099
Income before income taxes 152,319 114,209 273,071 176,215
Income taxes 41,139 32,034 73,872 42,169
NET INCOME $ 111,180 $ 82,175 $ 199,199 $ 134,046
Earnings per share:        
Basic $ 0.93 $ 0.69 $ 1.68 $ 1.12
Diluted $ 0.88 $ 0.65 $ 1.57 $ 1.06
Weighted average shares outstanding:        
Basic 119,007 119,054 118,609 119,686
Diluted 126,617 125,685 126,610 126,212
Dividends declared per share $ 0.20 $ 0.10 $ 0.33 $ 0.20