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The
Middleby Corporation
Condensed
Consolidated Statement of Earnings
(Amounts in 000's, Except Per Share Information)
(Unaudited)
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Three Months Ended |
Nine Months Ended |
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3rd Qtr. 2008 |
3rd Qtr. 2007 |
3rd Qtr. 2008 |
3rd Qtr. 2007 |
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Net Sales |
$ 166,472 |
$ 135,996 |
$ 500,868 |
$354,939 |
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Cost of Sales |
101,735 |
84,600 |
310,221 |
217,552 |
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Gross profit |
67,737 |
51,396 |
190,647 |
137,387 |
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Selling & Distribution
Expenses |
16,822 |
13,507 |
49,743 |
36,575 |
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General & Administrative
Expenses |
16,962 |
12,465 |
51,443 |
35,380 |
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Income From Operations |
30,953 |
25,424 |
89,461 |
65,432 |
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Interest Expense and
Deferred Financing Amortization, net |
3,168 |
1,621 |
9,910 |
4,138 |
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Other (income) loss, net |
850 |
(316) |
1,798 |
(1,053) |
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Earnings Before Income Taxes |
26,935 |
24,119 |
77,753 |
62,347 |
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Provision for Income Taxes |
10,645 |
10,063 |
31,165 |
24,989 |
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Net Earnings |
$ 16,290 |
$ 14,056 |
$ 46,588 |
$ 37,358 |
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Net Earnings Per Share: |
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Basic |
$ 1.02 |
$ 0.89 |
$ 2.91 |
$ 2.39 |
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Diluted |
$ 0.96 |
$ 0.83 |
$ 2.72 |
$ 2.22 |
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Weighted Average Number Shares: |
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Basic |
15,911 |
15,743 |
15,985 |
15,632 |
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Diluted |
17,017 |
16,934 |
17,143 |
16,857 |
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