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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. 2011 |
3rd Qtr. 2010 |
3rd Qtr. 2011 |
3rd Qtr. 2010 |
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Net Sales |
$ 218,720 |
$ 177,793 |
$ 612,147 |
$ 511,888 |
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Cost of Sales |
131,402 |
107,106 |
367,662 |
308,304 |
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Gross profit |
87,318 |
70,687 |
244,485 |
203,584 |
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Selling & Distribution
Expenses |
24,555 |
17,776 |
66,692 |
54,437 |
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General & Administrative
Expenses |
25,577 |
20,900 |
73,995 |
60,972 |
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Income From Operations |
37,186 |
32,011 |
103,798 |
88,175 |
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Interest Expense and
Deferred Financing Amortization, net |
2,324 |
2,177 |
6,503 |
6,898 |
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Other (income) expense, net |
(424) |
(121) |
1,022 |
443 |
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Earnings Before Income Taxes |
31,286 |
29,955 |
96,273 |
80,834 |
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Provision for Income Taxes |
11,825 |
9,353 |
35,359 |
28,961 |
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Net Earnings |
$ 23,461 |
$ 20,602 |
$ 60,914 |
$ 51,873 |
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Net Earnings Per Share: |
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Basic |
$ 1.30 |
$
1.16 |
$ 3.38 |
$ 2.91 |
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Diluted |
$ 1.26 |
$ 1.13 |
$ 3.29 |
$ 2.84 |
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Weighted Average Number Shares: |
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Basic |
18,040 |
17,815 |
17,998 |
17,811 |
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Diluted |
18,580 |
18,274 |
18,535 |
18,271 |
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