-----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, JD9z5E9wtWqxESNZaVkVn+Ld6H79oFuXpDNbQbmoUz7d9/ZXKUi+e9Ot+a4Bm98N qkaCPIsROOFLLPfcdRQUuA== 0000031107-03-000010.txt : 20030730 0000031107-03-000010.hdr.sgml : 20030730 20030730095959 ACCESSION NUMBER: 0000031107-03-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030730 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030730 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: 03810194 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 second8k2003.txt SECOND 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: July 30, 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 July 30, 2003 announcing the second quarter earnings for 2003. ITEM 9 Regulation FD Disclosure On July 30, 2003 The Eastern Company released the second quarter of 2003 quarterly earnings. ITEM 12 Results of Operations and Financial Condition On July 30, 2003 The Eastern Company released the second 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: July 30, 2003 By: /s/John L. Sullivan III -------------- --------------------------- John L. Sullivan III Vice President, Secretary & Treasurer EX-99 3 release73003.txt PRESS RELEASE JULY 30, 2003 Exhibit 99 FOR IMMEDIATE RELEASE July 30, 2003 THE EASTERN COMPANY REPORTS RESULTS FOR THE SECOND QUARTER OF 2003 Naugatuck, CT-The Eastern Company (AMEX-EML) today announced its operating results for the second quarter. Second-quarter net income increased to $936,700, or $.26 per diluted share compared to the $758,500 or $ .20 per diluted share reported in the second quarter of 2002, a 23% increase. Sales for the second quarter of 2003 increased slightly to $21.6 million, compared to $21.3. Year-to-date earnings for the six-month period ended June 28 were $1.9 million or $.52 per diluted share, compared to $1.4 million or $.38 per diluted share for the same period in 2002, a 32% increase. Net sales for six months were $43.2 million compared to $41.6 million for the first six months of the previous year, a 4% increase. Leonard F. Leganza, President and CEO stated, "While the operating results for the quarter and year to date have been positive, sales improvements have not been as robust as expected, an indication that the economy has not yet improved significantly in our core niche markets. Our profit margins have continued to remain strong as a result of new product sales, and the addition of the Canadian Commercial Vehicles subsidiary which produces "sleeper boxes" for large trailer trucks." Mr. Leganza continued, "Our presence in China has recently been expanded with the establishment of Eastern Industries (Shanghai) Ltd., a manufacturing facility located in Shanghai, China. This subsidiary will be instrumental in helping us remain price competitive in North America and will open up the possibility to more effectively pursue markets in Asia and elsewhere. In addition to producing fabricated metal products, it will include plastic injection molding capability. It will also serve as a sourcing center for non-competitive products." 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 enables 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, 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 Statement of Consolidated Income (unaudited) THE EASTERN COMPANY (AMEX - EML)
THREE Months Ended SIX Months Ended 13 wks 13 wks 26 wks 26 wks June 28, 2003 June 29, 2002 June 28, 2003 June 29, 2002 ------------- ------------- ------------- ------------- Net Sales $ 21,591,111 $ 21,291,745 $ 43,181,825 $ 41,612,262 Net Income $ 936,688 $ 758,518 1,890,065 1,435,625 Net Income Per Share: Basic $ 0.26 $ 0.21 $ 0.52 $ 0.40 Diluted $ 0.26 $ 0.20 $ 0.52 $ 0.38 Weighted average shares outstandings: Basic 3,625,310 3,630,586 3,627,807 3,629,931 Diluted 3,630,514 3,717,031 3,630,409 3,729,542
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