TEN-YEAR REVIEW
(dollars in thousands, except per share amounts)
SUMMARY OF OPERATIONS 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986
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Net Sales $871,952 $681,920 $557,335 $477,054 $364,825 $280,634 $225,860 $178,636 $148,095 $129,183
Costs and expenses:
Cost of sales 369,444 300,381 256,748 221,650 172,477 132,882 106,899 85,037 71,420 64,090
Research, development
and engineering 43,771 39,630 36,199 32,313 23,703 19,663 15,572 12,193 8,888 6,509
Selling, general and
administrative 301,426 221,433 172,446 149,390 117,089 92,384 71,761 55,046 45,776 39,946
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714,641 561,444 465,393 403,353 313,269 244,929 194,232 152,276 126,084 110,545
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Operating Income 157,311 120,476 91,942 73,701 51,556 35,705 31,628 26,360 22,011 18,638
Other income (expense) 5,782 7,099 4,123 3,239 1,789 2,395 (598) (360) 14 77
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Earnings Before Income Taxes,
Minority Interest and
Extraordinary Item 163,093 127,575 96,065 76,940 53,345 38,100 31,030 26,000 22,025 18,715
Income taxes 66,900 50,770 35,860 29,240 20,270 14,475 11,800 10,140 9,300 8,502
Earnings before Minority
Interest 96,193 76,805 60,205 47,700 33,075 23,625 19,230 15,860 12,725 10,213
Minority interest (9,183) (4,405)
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Earnings Before Extraordinary
Item 87,010 72,400 60,205 47,700 33,075 23,625 19,230 15,860 12,725 10,213
Extraordinary gain (net) 9,910
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Net Earnings $87,010 $72,400 $60,205 $47,700 $33,075 $33,535 $19,230 $15,860 $12,725 $10,213
Earnings Per Share of
Common Stock:<F1>(a)
Before extraordinary item $1.80 $1.50 $1.25 $1.00 $.70 $.50 $.41 $.34 $.27 $.22
Extraordinary gain (net)
Net Earnings $1.80 $1.50 $1.25 $1.00 $.70 $.71 $.41 $.34 $.27 $.22
Dividend Per Share of
Common Stock $.09 $.08 $.07 $.06 $.05
Average Number of Shares
Outstanding - in thousands (a) 48,468 48,367 48,356 47,716 47,526 47,396 47,178 46,864 46,734 46,410
<FN>
<F1>(a) Adjusted for the three-for-two stock split effective May 19, 1989, and the two-for-one stock splits effective May 11, 1987
and May 13, 1991.
</FN>
FINANCIAL AND STATISTICAL DATA
1995 1994 1993 1992 1991 1990 1989 1988 1987 1986
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Cash and Marketable Securities 264,648 202,045 152,637 91,752 80,029 54,052 19,282 4,602 5,999 8,390
Working Capital 448,815 361,318 213,965 168,197 140,296 117,877 89,594 70,071 56,399 43,538
Current Ratio 3.6 3.0 2.6 2.7 2.6 3.0 3.5 3.4 3.3 2.9
Property, Plant and
Equipment - Net 182,592 180,719 67,707 59,649 36,056 28,700 22,918 20,703 17,658 17,018
Capital Expenditures 36,299 29,239 20,160 31,618 16,570 11,935 7,106 7,987 3,895 5,377
Depreciation and Amortization 28,654 20,944 16,183 11,382 11,796 7,109 6,312 5,999 5,402 3,860
Total Assets 854,891 767,971 454,204 340,272 270,316 209,521 152,333 124,830 104,965 89,323
Long-Term Debt 96,967 95,276 31,282 1,433 1,400 1,900 2,655 3,121 3,704 3,951
Stockholders' Equity 454,279 358,266 288,434 232,261 179,875 147,875 112,029 91,019 75,216 60,455
Return on Average Equity 21.4 22.4 23.1 23.1 20.2 18.2 18.9 19.1 18.8 18.6
Number of Stockholders of Record 3,260 3,684 3,951 3,512 2,914 2,400 2,294 2,049 2,055 1,626
Number of Employees 4,629 4,221 3,228 2,906 2,448 1,913 1,599 1,408 1,180 1,073