-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Nj3n6PJ6/Q2RxeGQiNNsUwPnbg4hB7Rv9s+C3cR2iZMcvTu0XVZVJQkFFC0iJJPW dZXbS/knTtg9Exy0vuFnbg== 0000031107-03-000006.txt : 20030425 0000031107-03-000006.hdr.sgml : 20030425 20030425155909 ACCESSION NUMBER: 0000031107-03-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030423 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EASTERN CO CENTRAL INDEX KEY: 0000031107 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] IRS NUMBER: 060330020 STATE OF INCORPORATION: CT FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-00599 FILM NUMBER: 03664815 BUSINESS ADDRESS: STREET 1: 112 BRIDGE ST STREET 2: P O BOX 460 CITY: NAUGATUCK STATE: CT ZIP: 06770 BUSINESS PHONE: 2037292255 MAIL ADDRESS: STREET 1: 112 BRIDGE STREET STREET 2: P O BOX 460 CITY: NAUGATUCK STATE: CT ZIP: 06770 8-K 1 first8k2003.txt FIRST QUARTER EARNINGS 2003 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: April 25, 2003 ------------------------------ (Date of earliest event reported) The Eastern Company ------------------- (Exact name of Registrant as specified in its charter) Connecticut 0-599 06-0330020 - ----------- ----- ---------- (State of (Commission File Number) (IRS Employer incorporation) Identification No.) 112 Bridge Street, Naugatuck, Connecticut 06770 - ----------------------------------------- ----- (Address of principal executive offices) (Zip Code) (203) 729-2255 -------------- (Registrant's telephone number, including area code) ITEM 7 Financial Statements and Exhibits (c) Exhibits The following exhibit is filed herewith: 99 Press Release dated April 23, 2003 announcing the first quarter earnings for 2003. ITEM 9 Regulation FD Disclosure (Information required under Item 12 - Results of Operations and Financial Condition) On April 23, 2003 The Eastern Company released the first quarter of 2003 quarterly earnings. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, The Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. The Eastern Company Date: April 25, 2003 By: /s/John L. Sullivan III -------------- --------------------------- John L. Sullivan III Vice President, Secretary & Treasurer EX-99 3 release42303.txt PRESS RELEASE APRIL 23, 2003 Exhibit 99 FOR IMMEDIATE RELEASE April 23, 2003 THE EASTERN COMPANY REPORTS RESULTS FOR THE FIRST QUARTER OF 2003 Naugatuck, CT-The Eastern Company (AMEX-EML) today announced the results of its operations for the first-quarter of 2003. Sales for the quarter were $21.6 million, compared to $20.3 for the same period in 2002, while net income was $953,000, or $0.26 per diluted share compared to the $677,000 or $0.18 per diluted share reported in the first quarter of 2002. Leonard F. Leganza, President and CEO stated, "We are pleased with the operating results of the Company in the first quarter of 2003, although we continued to be affected by the overall softness in the manufacturing sector of the U.S. economy. Sales increased by 6% from the comparable quarter of 2002 and we are optimistic that sales will continue to improve as we go through the year. Net income increased 41% from the previous year as a result of higher margins on new product sales." Mr. Leganza commented further, "It is important for us to remain competitive and grow in the niche markets that we serve. Therefore, in addition to the continual improvements we make to our cost structure, the Company will, either internally or by acquisition, pursue the development and introduction of new products. Among recent initiatives was the acquisition of a core composite honeycomb technology now being used by us in the manufacture of "sleeper boxes" for large trailer trucks. Use of that technology will be broadened by our Canadian Commercial Vehicles subsidiary to applications in other markets. A new line of luggage security seals to prevent surreptitious entry into checked baggage at airports was introduced by our Illinois Lock/CCL Security Product division as a result of the TSA ban on locking checked baggage." Mr. Leganza continued, "To help our traditional products to remain price competitive in the marketplace with products imported from Asia, we are expanding our presence in China, exploring the possibilities of establishing additional manufacturing capabilities in that country." The Eastern Company is a 145-year-old manufacturer of industrial hardware, security products and metal castings. It operates from nine 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 result are 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. Contact: Leonard F. Leganza or John L. Sullivan III (203) 729-2255 -----END PRIVACY-ENHANCED MESSAGE-----