-----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, URR1XDgD9A/o9O7U0+ty1UKu/Az47dMT84UH7R1FL2Lq7VKOKpLUJwwE32O1H9um GwedzDmAsa6++/OF7ZcmQQ== 0000031107-06-000046.txt : 20060426 0000031107-06-000046.hdr.sgml : 20060426 20060426093706 ACCESSION NUMBER: 0000031107-06-000046 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060426 DATE AS OF CHANGE: 20060426 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: 06779697 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 first8k2006.txt PRESS RELEASE 1ST QTR 2006 UNITED STATES 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 26, 2006 -------------- (Date of earliest event reported) The Eastern Company ------------------- (Exact name of Registrant as specified in its charter) Connecticut 0-599 06-0330020 ----------- ----- ---------- (State or other jurisdiction (Commission File Number) (IRS Employer of 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) Section 2 - Financial Information ITEM 2.02 - Results of Operations and Financial Condition Press Release dated April 26, 2006 announcing the first quarter earnings for 2006 is attached hereto. Section 7 - Regulation FD. ITEM 7.01 - Regulation FD Disclosure On April 26, 2006, The Eastern Company released the first quarter of 2006 quarterly earnings. A copy of the Press Release dated April 26, 2006 announcing the first quarter earnings for 2006 is attached hereto. Section 9 - Financial Statements and Exhibits ITEM 9.01 - (d) Exhibits (99) Press Release dated April 26, 2006 announcing the first quarter earnings for 2006. 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, hereunto duly authorized. The Eastern Company Date: April 26, 2006 By: /s/John L. Sullivan III --------------- ---------------------------- John L. Sullivan III Vice President, Secretary & Treasurer EX-99 2 firstexhibit99.txt PRESS RELEASE 1ST QTR 2006 Exhibit 99 FOR IMMEDIATE RELEASE April 26, 2006 THE EASTERN COMPANY REPORTS RESULTS FOR THE FIRST QUARTER OF 2006 Naugatuck, CT-The Eastern Company (AMEX-EML) today announced the results of its operations for the first quarter of 2006. Sales for the quarter were $27.9 million, compared to $26.3 million for the same period in 2005, a 6% increase, while net income was $1.1 million, or $0.30 per diluted share, compared to the $730,600, or $0.19 per diluted share, reported in the first quarter of 2005, a 57% increase. The increase in Company earnings, compared to the first quarter of 2005 reflected the positive impact of the initiative undertaken a year ago at our Metal Casting facility which was to increase our focus and capability toward producing ductile iron products in addition to our malleable iron products. Leonard F. Leganza, President and CEO stated, "The sales increase of 6% in the first quarter was the fourteenth consecutive quarter of improved year-to-year sales and we anticipate further increased sales results as the year progresses. Of particular note, sales in the Metal Products group improved 5% compared to the prior year quarter. The improvement included increased sales of our proprietary mine roof support anchors as well as significantly greater sales of our ductile iron products. The combination of a stronger coal mining market and new ductile business are driving sales in a positive direction. " Mr. Leganza continued, "Another of our long-term objectives was focused on the operations of our recently established subsidiary in Shanghai, China. During the past two years our earnings have experienced the impact resulting from incurring the start up costs and expenses of training employees and establishing the equipment and infrastructure necessary to meet our production plans. During the first quarter of 2006 this operation has reached the sales and production levels necessary toward becoming a profitable operating unit. We are pleased with the progress made in the subsidiary's manufacturing capabilities and are certain it will be providing us new opportunities for Eastern's products in the Asian and European markets in addition to supplying our domestic operations with some of their requirements." Mr. Leganza commented further, "In 2006 the Company will continue to face the necessity of overcoming some of the challenges of our global economy. The rapid increase in energy, health care and raw material costs will have to be overcome by continuous productivity improvements and pricing policies in order to maintain healthy profit margins. Notwithstanding these challenges, considering the present status of our backlogs and current economic forecasts, all of our business units are on track for positive results in 2006." The Eastern Company is a 148-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 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 THE EASTERN COMPANY (AMEX - EML) THREE Months Ended 13 wks 13 wks April 1, 2006 April 2, 2005 ------------- ------------- Net Sales $ 27,860,183 $ 26,267,584 Net Income After Tax 1,143,765 730,582 Net Income Per Share: Basic $ 0.31 $ 0.20 Diluted $ 0.30 $ 0.19 Weighted average shares outstandings: Basic 3,643,127 3,634,991 Diluted 3,859,376 3,867,413 -----END PRIVACY-ENHANCED MESSAGE-----