consolidated
statements of
shareholders' equity |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
in
thousands
except share data
years ended December 31, 1997, 1996, 1995
|
|
|
|
|
|
|
|
|
|
|
|
common stock |
additional |
|
|
|
equity
adjustments
from
foreign |
|
|
|
|
|
|
shares |
|
par value |
|
paid-in capital |
|
retained
earnings |
|
currency
translation |
|
total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance
at December 31, 1994 |
|
23,869,686 |
|
$ 239 |
|
12,531 |
|
84,971 |
|
3,369 |
|
101,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercise
of stock options |
|
193,040 |
|
2 |
|
1,142 |
|
– |
|
– |
|
1,144 |
|
| Issuance
of shares under stock purchase plan |
|
120,846 |
|
1 |
|
989 |
|
– |
|
– |
|
990 |
|
| Shares
repurchased under provisions of stock repurchase plan |
|
(162,246 |
) |
(2 |
) |
(2,061 |
) |
– |
|
– |
|
(2,063 |
) |
| Tax
benefits related to stock options and stock purchase plan |
|
– |
|
– |
|
408 |
|
– |
|
– |
|
408 |
|
| Net
earnings |
|
– |
|
– |
|
– |
|
17,395 |
|
– |
|
17,395 |
|
| Foreign
currency translation adjustments, net of deferred tax credit of $196 |
|
– |
|
– |
|
– |
|
– |
|
(354 |
) |
(354 |
) |
| dividends
paid ($.06 per share) |
|
– |
|
– |
|
– |
|
(1,438 |
) |
– |
|
(1,438 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance
at December 31, 1995 |
|
24,021,326 |
|
$ 240 |
|
13,009 |
|
100,928 |
|
3,015 |
|
117,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercise
of stock options |
|
264,260 |
|
3 |
|
1,409 |
|
– |
|
– |
|
1,412 |
|
| Issuance
of shares under stock purchase plan |
|
127,974 |
|
1 |
|
1,319 |
|
– |
|
– |
|
1,320 |
|
| Shares
repurchased under provisions of stock repurchase plan |
|
(200,614 |
) |
(2 |
) |
(3,318 |
) |
– |
|
– |
|
(3,320 |
) |
| Tax
benefits related to stock options and stock purchase plan |
|
– |
|
– |
|
760 |
|
– |
|
– |
|
760 |
|
| Net
earnings |
|
– |
|
– |
|
– |
|
24,263 |
|
– |
|
24,263 |
|
| Foreign
currency translation adjustments, net of deferred taxes of $164 |
|
– |
|
– |
|
– |
|
– |
|
317 |
|
317 |
|
| dividends
paid ($.08 per share) |
|
– |
|
– |
|
– |
|
(1,933 |
) |
– |
|
(1,933 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance
at December 31, 1996 |
|
24,212,946 |
|
$ 242 |
|
13,179 |
|
123,258 |
|
3,332 |
|
140,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercise
of stock options |
|
235,360 |
|
2 |
|
1,476 |
|
– |
|
– |
|
1,478 |
|
| Issuance
of shares under stock purchase plan |
|
170,399 |
|
2 |
|
2,148 |
|
– |
|
– |
|
2,150 |
|
| Shares
repurchased under provisions of stock repurchase plan |
|
(72,325 |
) |
(1 |
) |
(3,090 |
) |
– |
|
– |
|
(3,091 |
) |
| Tax
benefits related to stock options and stock purchase plan |
|
– |
|
– |
|
1,821 |
|
– |
|
– |
|
1,821 |
|
| Net
earnings |
|
– |
|
– |
|
– |
|
38,411 |
|
– |
|
38,411 |
|
| Foreign
currency translation adjustments, net of deferred tax credit of $164 |
|
– |
|
– |
|
– |
|
– |
|
(8,412 |
) |
(8,412 |
) |
| dividends
paid ($.10 per share) |
|
– |
|
– |
|
– |
|
(2,444 |
) |
– |
|
(2,444 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance
at December 31, 1997 |
|
24,546,380 |
|
$ 245 |
|
15,534 |
|
159,225 |
|
(5,080 |
) |
169,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| see accompanying notes to consolidated financial statements |
|
 |
