Connecticut
|
001-35383
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06-0330020
|
(State or other jurisdiction
|
(Commission File Number)
|
(IRS Employer
|
of incorporation)
|
Identification No.)
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112 Bridge Street, Naugatuck, Connecticut
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06770
|
|
(Address of principal executive offices)
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(Zip Code)
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The Eastern Company
|
|
Date: April 29, 2020
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/s/August M. Vlak
|
August M. Vlak
President and Chief Executive Officer |
Consolidated Statement of Operations (unaudited)
|
|||||
THE EASTERN COMPANY (NASDAQ - EML)
|
|||||
THREE Months Ended
|
|||||
March 28, 2020
|
March 30, 2019
|
||||
Net Sales
|
$ 65,325,617
|
$ 60,883,148
|
|||
Net Income After Tax
|
2,895,817
|
1,570,960
|
|||
Net Income Per Share:
|
|||||
Basic
|
$ 0.46
|
$ 0.25
|
|||
Diluted
|
$ 0.46
|
$ 0.25
|
|||
Weighted average
|
|||||
shares outstanding:
|
|||||
Basic
|
6,237,921
|
6,231,713
|
|||
Diluted
|
6,241,052
|
6,264,829
|
|||
Consolidated Balance Sheets (unaudited)
|
||||||
THE EASTERN COMPANY (NASDAQ - EML)
|
||||||
28-Mar-20
|
28-Dec-19
|
|||||
Cash and marketable securities
|
$
|
16,532,035
|
$
|
18,030,810
|
||
Accounts Receivable
|
39,873,177
|
37,941,900
|
||||
Inventories
|
55,274,876
|
54,599,266
|
||||
Other assets
|
3,955,872
|
4,343,507
|
||||
Current Assets
|
115,635,960
|
114,915,483
|
||||
Net property, plant and equipment
|
41,926,567
|
42,022,613
|
||||
Other intangible assets
|
110,522,496
|
111,382,405
|
||||
Right of use assets
|
11,852,653
|
12,342,475
|
||||
Total Assets
|
$
|
279,937,676
|
$
|
280,662,976
|
||
Accounts payable
|
$
|
22,629,076
|
$
|
19,960,507
|
||
Accrued compensation
|
2,216,765
|
3,815,186
|
||||
Other accrued expenses
|
3,797,178
|
2,967,961
|
||||
Current portion of long-term debt
|
5,187,689
|
5,187,689
|
||||
Current Liabilities
|
33,830,708
|
31,931,343
|
||||
Deferred income tax
|
5,270,465
|
5,270,465
|
||||
Other long-term liabilities
|
2,465,260
|
2,465,261
|
||||
Lease liability
|
11,852,653
|
12,342,475
|
||||
Long-term debt
|
92,356,121
|
93,577,544
|
||||
Accrued postretirement benefits
|
1,001,509
|
1,007,146
|
||||
Accrued pension costs
|
28,052,482
|
28,631,485
|
||||
Shareholders' equity
|
105,108,478
|
105,437,257
|
||||
Total Liabilities and Shareholders' equity
|
$
|
279,937,676
|
$
|
280,662,976
|
||