Mr. Leganza continued, “The Company was recently selected as the
supplier of a lightweight honeycomb composite sleeper for a new line of
Class 8 trucks to be produced in
Mr. Leganza concluded, “To whatever degree general economic conditions might not improve, the Company will continue as in the past few years to invest in new product development and our infrastructure in anticipation of stronger future business conditions. The focus and emphasis we have placed on cash flow during these recent years of economic uncertainties have maintained the Company in solid financial position and we continue to be confident that our current liquidity position will be sufficient and strong enough to meet our debt service requirements, replace and upgrade our capital equipment programs as needed and support our dividend policy.”
The
Forward-Looking Statements: Information in
this news release contains statements which reflect the Company’s
current expectations regarding its future operating performance and
achievements. Actual results may differ due to the many economic
uncertainties that affect the Company’s business environment. Further
information about the potential factors which could affect the Company’s
financial results is included in the Company’s reports and filings with
the
Consolidated Statement of Operations (unaudited) | |||||||||||||
THE EASTERN COMPANY (NASDAQ - EML) | |||||||||||||
THREE Months Ended | |||||||||||||
March 29, 2014 | March 30, 2013 | ||||||||||||
Net Sales | $ | 35,849,126 | $ | 34,692,174 | |||||||||
Net Income After Tax | 1,502,885 | 1,005,248 | |||||||||||
Net Income Per Share: | |||||||||||||
Basic | $ | 0.24 | $ | 0.16 | |||||||||
Diluted | $ | 0.24 | $ | 0.16 | |||||||||
Weighted average | |||||||||||||
shares outstandings: | |||||||||||||
Basic | 6,222,213 | 6,219,775 | |||||||||||
Diluted | 6,239,149 | 6,236,842 |
Source: The
The Eastern Company
Leonard F. Leganza or John L. Sullivan
III, 203-729-2255