Despite the current uncertain state of worldwide economic conditions that continue to impact some of our market segments, we remain very positive about our future. Our strong financial condition provides us the resources we need to invest in our product development initiatives, provide for capital expenditures where needed and to continue our dividend policy.”Mr. Leganza concluded, “As an indication of our confidence in our future performance, this morning the Board of Directors voted to increase the quarterly dividend by 11% to 0.10 cents per share effective in the first quarter of 2012.” The Eastern Company is a 153-year-old manufacturer of industrial hardware, security products and metal castings. It operates from ten locations in the U.S., Canada, Mexico, Taiwan and China. The diversity of the Company’s products helps it to respond to the changing requirements of a broad array of markets. 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 Securities and Exchange Commission. The Company is not obligated to update or revise the aforementioned statements for those new developments.
|Statement of Consolidated Income (unaudited)|
|THE EASTERN COMPANY (NASDAQ - EML)|
|THREE Months Ended||TWELVE Months Ended|
|13 wks Dec. 31, 2011||13 wks Jan. 1, 2011||52 wks Dec. 31, 2011||52 wks Jan. 1, 2011|
|Net Income After Tax||1,464,016||1,632,728||5,504,930||5,543,005|
|Net Income Per Share:|
|Weighted average shares outstandings:|