-----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, A01YEs3B4pS4dqBQk78pI6oxkS+xblhFDTZU1byCYxS2PQsKceYcPyLjsA2tNojw xuey4UYioadhkUfD+9z7xA== 0000031107-04-000002.txt : 20040204 0000031107-04-000002.hdr.sgml : 20040204 20040204122831 ACCESSION NUMBER: 0000031107-04-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040204 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20040204 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: 04565672 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 fourth8k2003.txt FOURTH 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: February 4, 2004 -------------------------------- (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 February 4, 2004 announcing the full year and fourth quarter earnings for 2003. ITEM 9 Regulation FD Disclosure On February 4, 2004, The Eastern Company released the full year and fourth quarter of 2003 operating results. ITEM 12 Results of Operations and Financial Condition On February 4, 2004, The Eastern Company released the full year and fourth quarter of 2003 operating results. 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: February 4, 2004 By: /s/John L. Sullivan III ---------------- ---------------------------- John L. Sullivan III Vice President, Secretary & Treasurer EX-99 3 exhibit994th.txt PRESS RELEASE FEBRUARY 4, 2004 Exhibit 99 FOR IMMEDIATE RELEASE February 4, 2004 THE EASTERN COMPANY REPORTS RESULTS FOR 2003 YEAR-END AND FOURTH QUARTER Naugatuck, CT-The Eastern Company (AMEX-EML) today announced the operating results for the full year and fourth quarter 2003. Sales for the full year 2003 were $88.3 million, an increase of 8.6% when compared to sales of $81.3 million in 2002. Sales for the fourth quarter of 2003 were $23.3 million, compared to $19.7 million in 2002, an increase of 18%. Sales increases in the fourth quarter were registered in both the Security and Industrial Hardware groups of the Company, while sales in the Metal products group decreased 8.7% in the fourth quarter. For the full year 2003 net income increased slightly to $3.4 million or $ .92 per diluted share, compared to net income of $3.3 million or $.89 per diluted share, in 2002. Fourth-quarter net income was $529 thousand, or $.14 per diluted share compared to the $1.2 million or $ .32 per diluted share reported in the fourth quarter of 2002. Leonard F. Leganza, President and CEO stated, "The company, in 2003, experienced robust sales increases in the fourth quarter and full year, which we believe may be an indication of a longer term recovery in the economy and particularly in the markets we serve. However, despite these positive signs in the economy, and the strength shown in our operating units' performance, net income was adversely affected by higher pension and health insurance charges during the year and as compared to the fourth quarter of 2002. Mr. Leganza continued: "We have continued to undertake these initiatives to improve the long range strength of the company. In that regard, we have increased our investment in Eastern Industrial Shanghai, China in order to be in a more competitive pricing posture, which will be important to all of our operating units. " The Eastern Company is a 146-year-old leading manufacturer of vehicular and industrial hardware, locks, metal castings, coin collection and smart card products. 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 TWELVE Months Ended 14 wks 13 wks 53 wks 52 wks Jan. 3, 2004 Dec. 28, 2002 Jan. 3, 2004 Dec. 28, 2002 ------------ ------------- ------------ ------------- Net Sales $ 23,260,651 $19,684,263 $88,306,581 $81,337,207 Net Income After Tax 528,798 1,178,232 3,361,622 3,291,900 Net Income Per Share: Basic $ 0.15 $ 0.32 $ 0.93 $ 0.91 Diluted $ 0.14 $ 0.32 $ 0.92 $ 0.89 Weighted average shares outstandings: Basic 3,614,030 3,633,207 3,620,593 3,631,278 Diluted 3,687,052 3,633,207 3,658,965 3,681,084
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