Earnings Statement
Statements of Consolidated Earnings
(Unaudited)
(In Thousands)
| |
|
|
Three Months Ended |
|
Nine Months Ended |
| |
|
|
Sept. 30/97 |
|
Sept. 30/96 |
|
Sept. 30/97 |
|
Sept. 30/96 |
|
| Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Products and services sold |
|
$187,063 |
|
|
$176,051 |
|
|
$462,805 |
|
|
$456,649 |
|
|
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Products and services sold |
|
94,428 |
|
|
91,674 |
|
|
224,234 |
|
|
234,307 |
|
| |
Depreciation, depletion and reclamation |
|
38,349 |
|
|
29,457 |
|
|
85,132 |
|
|
74,418 |
|
| |
Administration |
|
5,935 |
|
|
6,000 |
|
|
19,664 |
|
|
15,914 |
|
| |
Exploration |
|
8,313 |
|
|
8,975 |
|
|
21,312 |
|
|
22,340 |
|
| |
Research and development |
|
656 |
|
|
561 |
|
|
2,283 |
|
|
2,028 |
|
| |
Interest |
|
(737 |
) |
|
239 |
|
|
(2,980 |
) |
|
(1,441 |
) |
|
| |
|
|
146,944 |
|
|
136,906 |
|
|
349,645 |
|
|
347,566 |
|
|
| Earnings from operations |
|
40,119 |
|
|
39,145 |
|
|
113,160 |
|
|
109,083 |
|
| |
Other expenses |
|
2,759 |
|
|
- |
|
|
2,759 |
|
|
- |
|
|
| Earnings before income taxes |
|
37,360 |
|
|
39,145 |
|
|
110,401 |
|
|
109,083 |
|
| |
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
| |
- current |
|
3,004 |
|
|
1,120 |
|
|
2,899 |
|
|
3,307 |
|
| |
- deferred |
|
13,383 |
|
|
- |
|
|
44,060 |
|
|
- |
|
|
| Net earnings |
|
20,973 |
|
|
38,025 |
|
|
63,442 |
|
|
105,776 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Retained earnings at beginning of period |
|
469,339 |
|
|
383,635 |
|
|
440,206 |
|
|
329,131 |
|
| |
Dividends |
|
(7,175 |
) |
|
(6,640 |
) |
|
(20,511 |
) |
|
(19,887 |
) |
|
| Retained earnings at end of period |
|
$483,137 |
|
|
$415,020 |
|
|
$483,137 |
|
|
$415,020 |
|
|
| Note: See notes accompanying
the consolidated financial statements. |
