CONSOlIDATED STATEmENTS OF INCOmE Fifty-two weeks ended  (In thousands of Canadian dollars, except per share information) December 31, 2011 January 1, 2011 Sales  $  668,589  $  584,715  Cost of sales 516,659  447,542  Gross profit  151,930  137,173  Distribution expenses 35,021  30,027  Selling, general and administrative expenses  72,086  68,500  Business acquisition, integration and other expenses 11,275  875  Results from operating activities   33,548  37,771  Finance costs 5,983  5,165  Share of income of equity accounted investee (net of income tax)  53  (18) Income before income taxes  27,512  32,624  Income taxes Current  5,692  6,380  Deferred 3,640  6,259  Total income taxes 9,332  12,639  Net income  $  18,180  $  19,985  PER SHARE EARNINGS Earnings per common share Basic 1.20  1.24  Diluted 1.19  1.23  Weighted average number of shares outstanding Basic 15,108,823 16,096,010  Diluted 15,340,963 16,243,780 See accompanying notes  52 HIGH lIneR FooDS InCoRpoRAteD