Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

(dollars in thousands, except per share data)

Income and Share Data:2018(1)__2017(2)__2016(3)__2015(4)__2014(5)__
Net sales$642,993$563,003$499,023$452,246$357,763
Operating income136,178120,584150,593147,023159,750
Earnings before income taxes (6)125,952111,961147,481154,162161,392
Net earnings126,15076,086104,476107,735110,948
Diluted earnings per share3.312.032.802.893.00
Average common and common equivalent shares - diluted (in thousands)38,05537,50037,32637,23137,005
Balance Sheet Data as of June 30:20182017201620152014
Cash, cash equivalents and short-term available-for-sale investments181,754$157,714$95,835$110,921$363,354
Working capital318,856212,503199,744208,515443,022
Total assets1,593,2021,558,2191,129,5811,063,360862,491
Total shareholders' equity1,079,061949,627879,280846,935795,265
Cash Flow Data:20182017201620152014
Net cash provided by operating activities$170,367$143,721$144,157$139,359$136,762
Capital expenditures20,93415,17916,89819,90513,821
Cash dividends declared per share1.281.281.281.271.23
Employee Data as of June 30:20182017201620152014
Employees1,9431,7891,5601,356967
(1)The Company acquired Trevigen on September 5, 2017, Atlanta Biologicals on January 2, 2018, and Eurocell Diagnostics on February 1, 2018.
(2)The Company acquired Space on July 1, 2016, and Advanced Cell Diagnostics on August 1, 2016.
(3)The Company acquired Cliniqa on July 8, 2015, and Zephyrus on March 21, 2016.
(4)The Company acquired Novus Biologicals on July 2, 2014, ProteinSimple on July 31, 2014, and CyVek on November 3, 2014.
(5)The Company acquired Bionostics on July 22, 2013, and PrimeGene on April 30, 2014.
(6)Earnings before income taxes included acquisition related expenses related to amortization of intangibles, costs recognized on sale of acquired inventories and professional fees associated with acquisition activity, as follows: 2018 - $74.2 million; 2017 - $73.2 million; 2016 - $37.6 million; 2015 - $37.6 million; 2014 - $20.0 million.

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