-----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, EWfXNotm5LobC5cmkpZiVk0ey+xcoSIPBsibGKgP5mQldqRdBUzX6zHe1QG9IY2v l6qDvVNlvlMW21jULZDLAQ== 0000031107-03-000026.txt : 20031029 0000031107-03-000026.hdr.sgml : 20031029 20031029111718 ACCESSION NUMBER: 0000031107-03-000026 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031029 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20031029 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: 03962566 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 third8k2003.txt THIRD 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: October 29, 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 October 29, 2003 announcing the third quarter earnings for 2003. ITEM 9 Regulation FD Disclosure On October 29, 2003, The Eastern Company released the third quarter of 2003 quarterly earnings. ITEM 12 Results of Operations and Financial Condition On October 29, 2003 The Eastern Company released the third 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: October 29, 2003 By: /s/John L. Sullivan III ---------------- ---------------------------- John L. Sullivan III Vice President, Secretary & Treasurer EX-99 3 exhibit993rd.txt PRESS RELEASE OCTOBER 29, 2003 Exhibit 99 FOR IMMEDIATE RELEASE October 29, 2003 THE EASTERN COMPANY REPORTS RESULTS FOR THE THIRD QUARTER OF 2003 Naugatuck, CT-The Eastern Company (AMEX-EML) today announced its operating results for the third quarter. Net income increased to $942,800, or $.26 per diluted share compared to the $678,000 or $ .19 per diluted share reported in the third quarter of 2002, a 39% increase. Sales for the third quarter of 2003 increased 9% to $21.9 million compared to $20.0 for the same period in 2002. Year-to-date earnings for the nine-month period ended September 27, 2003 were $2.8 million or $.78 per diluted share, compared to $2.1 million or $.57 per diluted share for the same period in 2002, a 34% increase. Net sales for nine months were $65.0 million compared to $61.7 million for the first nine months of the previous year, a 6% increase. Leonard F. Leganza, President and CEO stated, "Our improved sales results for the year to date, reflects improved business in all of our operating units, except the metal products division which experienced a decrease in sales. The Canadian Commercial Vehicle subsidiary, which we recently acquired and which produces lightweight "sleeper boxes" for the trucking industry, was already an important contributor to the strong year to date results. We anticipate continued favorable sales activity in the fourth quarter of the year." Mr. Leganza continued, "At our Illinois Lock / CCL Security Products division we have developed a new lock which meets all the requirements established by Travel Sentry TM, a standard setting group created to work closely with the Transportation Security Administration (TSA) and the travel goods industry. This lock will allow airport passengers to lock their bags and not have the lock destroyed if the bag is inspected by the TSA. In addition, our presence in China continues to provide us with an important offshore source of supply. This presence has been further enhanced by the establishment of Eastern Industrial (Shanghai) Ltd. which, in addition to increased manufacturing capability, we believe will help to introduce our broad array of products into the China market." 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 NINE Months Ended 13 wks 13 wks 39 wks 39 wks Sept. 27, 2003 Sept. 28, 2002 Sept. 27, 2003 Sept. 28, 2002 -------------- -------------- -------------- -------------- Net Sales $21,864,105 $ 20,040,682 $65,045,930 $ 61,652,944 Net Income After Tax 942,759 678,043 2,832,824 2,113,668 Net Income Per Share: Basic $ 0.26 $ 0.19 $ 0.78 $ 0.58 Diluted $ 0.26 $ 0.19 $ 0.78 $ 0.57 Weighted average shares outstandings: Basic 3,612,748 3,632,046 3,622,791 3,630,644 Diluted 3,688,008 3,632,046 3,649,612 3,697,051
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