THE MIDDLEBY CORPORATION MIDD Income Statement

The middleby corporation (MIDD)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenue from Contract with Customer, Excluding Assessed Tax
677,459	787,626	724,014	761,004	686,802	756,672	713,331	668,128	584,800	632,859	593,043	579,343	530,297	596,817	574,224	580,456	516,355	449,004	436,291	406,596	434,995	404,289	424,776	372,478	377,420	360,013	363,801	327,451	291,612	257,699	260,040	228,823	243,760	218,720	210,855	182,572	207,233	177,793	173,412	160,683	153,989	158,601
Cost of sales
427,269	497,948	453,986	474,525	429,490	476,084	452,171	417,369	373,167	392,695	364,524	344,735	320,847	357,640	342,496	346,954	319,582	271,822	263,402	249,034	265,940	241,909	258,602	229,502	226,689	218,575	227,227	206,183	178,367	157,254	158,224	141,340	144,108	131,402	125,518	110,742	124,140	107,106	103,988	97,210	91,952	97,261
Gross profit
250,190	289,678	270,028	286,479	257,312	280,588	261,160	250,759	211,633	240,164	228,519	234,608	209,450	239,177	231,728	233,502	196,773	177,182	172,889	157,562	169,055	162,380	166,174	142,976	150,731	141,438	136,574	121,268	113,245	100,445	101,816	87,483	99,652	87,318	85,337	71,830	83,093	70,687	69,424	63,473	62,037	61,340
Selling, General and Administrative Expense
143,942	148,813	144,460	144,631	155,909	139,514	141,372	135,008	122,948	116,746	114,857	121,632	114,984	137,507	109,140	115,199	109,792	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling and distribution expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,477	45,332	47,109	45,500	42,006	48,102	46,970	39,080	41,769	38,638	36,152	26,715	25,965	28,274	25,175	24,421	24,555	21,569	20,568	21,335	17,776	19,036	17,625	16,361	16,668
General and administrative expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	46,929	42,719	39,273	34,182	40,428	42,333	40,073	28,096	32,181	37,611	42,921	27,873	27,051	28,204	25,648	30,319	25,577	28,520	19,898	27,145	20,900	20,659	19,413	17,602	17,727
Restructuring Charges
834	3,674	4,223	2,241	342	1,087	12,111	4,441	1,693	2,514	4,218	11,494	1,725	2,379	1,149	6,390	606	5,746	1,477	4,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) Related to Litigation Settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,519	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Assets
-	-	-	-	-	-	-	-	-	-	0	12,042	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from operations
105,414	152,030	121,345	139,607	101,061	139,987	107,677	111,310	86,992	62,904	109,444	113,524	92,741	99,291	121,439	111,913	86,375	80,030	83,360	66,580	82,295	86,465	75,739	55,933	74,454	67,488	60,325	42,195	58,657	47,429	45,338	36,660	44,912	37,186	35,248	31,364	34,613	32,011	29,729	26,435	28,074	26,945
Net interest expense and deferred financing amortization, net
15,713	19,275	20,846	21,968	20,520	20,372	19,143	10,404	8,823	7,926	6,550	5,702	5,805	6,105	6,440	6,059	5,276	4,224	4,048	3,749	3,541	3,895	4,169	3,987	4,172	4,249	4,046	3,434	2,192	2,988	1,967	2,091	2,000	2,324	2,119	2,060	1,694	2,177	2,246	2,475	2,797	2,857
Net Periodic Benefit Cost, Other Components
-10,089	-6,624	-7,175	-7,297	-7,761	-10,068	-9,225	-9,116	-9,705	-5,965	-8,813	-8,612	-8,338	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other (income) expense, net
-3,326	1,839	-1,444	520	1,413	-1,454	260	542	-1,173	272	1,068	-302	-1,867	-2,526	-3,152	3,838	800	-1,941	366	-4,561	-1,997	-993	-195	-865	-782	-1,394	-391	-213	-754	-2,765	380	-1,267	1,263	424	-1,608	162	483	121	-220	-344	137	-460
Earnings before income taxes
96,464	141,218	106,230	125,456	89,715	128,229	98,019	110,564	86,701	61,215	112,775	116,132	93,407	117,867	111,847	109,692	81,899	73,865	79,678	58,270	76,757	81,577	71,375	51,081	69,500	61,845	55,888	38,548	55,711	41,676	43,751	33,302	44,175	35,286	31,521	29,466	33,402	29,955	27,263	23,616	25,414	23,628
Provision for income taxes
22,700	32,223	24,210	33,246	20,700	33,390	25,114	26,576	21,281	-13,971	38,104	38,563	22,705	36,931	35,996	36,801	27,361	25,040	25,411	20,039	25,008	21,864	22,970	17,636	19,579	20,903	18,725	12,646	17,923	11,907	12,706	11,207	9,616	11,825	11,893	11,641	12,408	9,353	9,754	9,854	9,913	9,914
Net Income (Loss) Attributable to Parent
73,779	108,997	82,020	92,210	69,013	94,839	72,905	83,988	65,420	75,186	74,671	77,569	70,702	80,936	75,851	72,891	54,538	48,825	54,267	38,231	51,749	59,713	48,405	33,445	49,921	40,942	37,163	25,902	37,788	29,769	31,045	22,095	34,559	23,461	19,628	17,825	20,994	20,602	17,509	13,762	15,501	13,714
Net earnings per share:
Earnings Per Share, Basic
1.33	1.96	1.47	1.66	1.24	1.71	1.31	1.51	1.18	1.36	1.31	1.35	1.24	1.41	1.33	1.28	0.96	0.86	0.95	0.67	0.92	1.05	0.85	0.59	-0.05	0.73	0.67	1.41	-2.33	1.63	1.70	1.22	1.91	1.30	1.09	1.00	1.17	1.16	0.98	0.78	0.88	0.78
Earnings Per Share, Diluted
1.33	1.96	1.47	1.66	1.24	1.70	1.31	1.51	1.18	1.36	1.31	1.35	1.24	1.41	1.33	1.28	0.96	0.86	0.95	0.67	0.91	1.05	0.85	0.59	-0.05	0.73	0.67	1.39	-2.27	1.60	1.67	1.20	1.86	1.26	1.06	0.97	1.14	1.13	0.96	0.74	0.83	0.74
Weighted average number of shares
Basic (in shares)
55,396	55,664	55,663	55,660	55,601	55,578	55,577	55,576	55,573	55,648	56,810	57,299	57,103	57,025	57,022	57,022	57,051	56,963	56,963	56,917	56,867	56,866	56,866	56,457	92,995	56,179	55,755	18,395	162,797	18,296	18,267	18,148	17,999	18,040	18,052	17,901	17,772	17,815	17,863	17,754	17,600	17,584
Dilutive common stock equivalents (in shares)
2	36	0	0	0	112	0	0	0	16	0	0	0	220	0	0	0	3	2	1	75	2	1	2	908	48	89	223	812	284	307	317	533	540	527	544	264	459	459	962	1,154	1,051
Diluted (in shares)
55,398	55,700	55,663	55,660	55,601	55,690	55,577	55,576	55,573	55,664	56,810	57,299	57,103	57,245	57,022	57,022	57,051	56,966	56,965	56,918	56,942	56,868	56,867	56,459	93,903	56,227	55,844	18,618	163,609	18,580	18,574	18,465	18,532	18,580	18,579	18,445	18,036	18,274	18,322	18,716	18,754	18,635
Comprehensive income
14,452	-	55,915	70,895	65,066	-	69,027	58,824	84,903	-	84,320	88,542	79,510	-	55,345	54,388	57,799	35,077	61,149	22,082	-	47,108	50,038	35,226	-	47,123	35,174	21,078	-	35,956	23,592	28,094	-	11,881	20,641	18,458	-	-	-	-	-	-