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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Eastern Company Reports Results For The Third Quarter And Nine Months Of 2012

The Eastern Company (NASDAQ-EML) today announced the results of its operations for the third quarter and nine months of 2012. Net sales for the quarter were $39.6 million, compared to $36.1 million for the same period in 2011, a 10% increase. Net income for the third quarter was $2.2 million or $0.36 per diluted share compared to $1.5 million or $0.24 per diluted share that was reported in the third quarter of 2011, a 52% increase.

Net sales for the nine months of 2012 were $121.7 million compared to $104.8 million, a 16% increase. Year to date earnings for the nine month period ended September 29, 2012 were $6.9 million or $1.11 per diluted share, compared to $4.0 million or $0.65 per diluted share for the same period in 2011, a 71% increase.

Leonard F. Leganza, Chairman, President and CEO stated, “All three of our business segments experienced continued increases in sales and operating earnings in the third quarter and nine months of 2012 as compared to 2011. The Industrial Hardware segment benefited from greater than anticipated sales of hardware for military use and continues to work with military contractors toward the development of hardware for use on future generations of military vehicles. The Industrial Hardware segment’s results also reflect continued demand from the Class 8 truck market for our highly engineered hardware products as well as our lightweight composite products used in the manufacture of sleeper cabs and truck bodies. Earlier this year, we also launched a new and improved line of air vents used on Class 8 trucks. We believe such product developments will continue to enhance additional opportunities for future sales of hardware into that market.”

Mr. Leganza added, “In the Metals Products segment, The Frazer & Jones division has continued to experience strong demand for its mine roof support products used in the coal industry. We have also increased our contract casting business providing products for various industrial markets which provided additional revenues when compared to a year ago. These increases in contract castings were driven primarily by sales of newly developed products for the railroad and solar panel industries.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs