Consolidated Statements of Income Consolidated Statements of Comprehensive Income Northwest Pipe Company | 13 The accompanying notes are an integral part of these consolidated financial statements. The accompanying notes are an integral part of these consolidated financial statements. (In thousands, except per share amounts) Year Ended December 31, 2000 1999 1998 Net sales $ 281,409 $ 240,307 $ 209,516 Cost of sales 232,192 191,403 167,852 Gross profit 49,217 48,904 41,664 Selling, general and administrative expense 21,436 18,790 15,859 Operating income  27,781 30,114 25,805 Interest expense, net 10,120 8,065 4,835 Income before income taxes 17,661 22,049 20,970 Provision for income taxes 6,970 8,764 8,389 Net income $ 10,691 $ 13,285 $ 12,581 Basic earnings per share $ 1.65 $ 2.06 $ 1.96 Diluted earnings per share $ 1.62 $ 2.01 $ 1.90 Shares used in per share calculations: Basic 6,472 6,452 6,435 Diluted 6,608 6,611 6,628 (Dollar amounts in thousands) Year Ended December 31, 2000 1999 1998 Net income $ 10,691 $ 13,285 $ 12,581 Other Comprehensive Income (Loss): Minimum pension liability (217) 56 231 Comprehensive Income $ 10,474 $ 13,341 $ 12,812