This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Eastern Company Reports Results For The Fourth Quarter And Twelve Months Of 2010

The Eastern Company (NYSE Amex-EML) today announced the results of its operations for the fourth quarter and twelve months of 2010. Sales for the quarter were $32.6 million, compared to $28.0 million for the same period in 2009, a 16% increase. Net income for the fourth quarter was $1.6 million or $0.26 per diluted share compared to the $369,000 or $0.06 per diluted share that was reported in the fourth quarter of 2009.

For the twelve months of 2010 net sales were $130.1 million compared to $112.7 million in 2009, also a 16% increase. Net income for the year 2010 was $5.5 million or $0.90 per diluted share, compared to $1.0 million or $0.17 per diluted share for the same period in 2009.

Leonard F. Leganza, Chairman, President and CEO stated, “We are pleased with the financial results for the year 2010 and are optimistic that our operations will continue to improve throughout 2011. Fourth quarter sales in 2010 were stronger when compared to the much weaker sales activity we experienced in the same quarter of 2009. Although we are still experiencing softness in some of our markets there are signs of general economic recovery. As an indication of our confidence in our continued future performance and our desire to share the past year’s results with our shareholders, on December 15, 2010 the Company paid its 281 st consecutive quarterly dividend of $0.09 per share and a one-time extra dividend of $0.16 per share.”

Mr. Leganza, continued, “In the Industrial Products Group, the Company is currently in the process of establishing a new location in Ontario, Canada for the fabrication of panels for products using our lightweight composite technology. This plant will compliment our present facilities located in British Columbia, Canada and Lerma, Mexico. The first product to be manufactured at this new location will be a newly developed panel which will be used in an interactive electronic board product. The panel will be produced on newly designed automated equipment developed internally by employees of the Company. This new more highly technical business opportunity offers us some exceptional growth opportunities for our Canadian subsidiaries.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.90 -0.29%
FB $117.62 0.16%
GOOG $694.70 0.34%
TSLA $231.77 -0.24%
YHOO $35.96 -0.14%


Chart of I:DJI
DOW 17,724.51 -26.40 -0.15%
S&P 500 2,056.47 -6.90 -0.33%
NASDAQ 4,749.7220 -13.5020 -0.28%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs