-----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, I9urywJSwydoyw3hnvRBbb4ylvMpUMbUU1BbqMvUt6hx6v+QpfdY444pJEGk1Ozo 5jbbux+HBzqNK+kAOQZPJw== 0000031107-06-000059.txt : 20060726 0000031107-06-000059.hdr.sgml : 20060726 20060726100539 ACCESSION NUMBER: 0000031107-06-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060726 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060726 DATE AS OF CHANGE: 20060726 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: 06980575 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 second8k2006.txt PRESS RELEASE 2ND 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: July 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 July 26, 2006 announcing the second quarter earnings for 2006 is attached hereto. Section 7 - Regulation FD. ITEM 7.01 - Regulation FD Disclosure On July 26, 2006, The Eastern Company released the second quarter of 2006 quarterly earnings. A copy of the Press Release dated July 26, 2006 announcing the second quarter earnings for 2006 is attached hereto. Section 9 - Financial Statements and Exhibits ITEM 9.01 - (d) Exhibits (99) Press Release dated July 26, 2006 announcing the second 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: July 26, 2006 By: /s/John L. Sullivan III -------------- ---------------------------- John L. Sullivan III Vice President, Secretary & Treasurer EX-99 2 second06ex998k.txt PRESS RELEASE JULY 26, 2006 EXHIBIT 99 FOR IMMEDIATE RELEASE July 26, 2006 THE EASTERN COMPANY REPORTS RESULTS FOR THE SECOND QUARTER AND SIX MONTHS OF 2006 Naugatuck, CT-The Eastern Company (AMEX-EML) today announced the results of its operations for the second quarter and six months of 2006. Sales for the quarter were $29.7 million, compared to $27.4 million for the same period in 2005, an 8% increase, while net income was $1.2 million, or $0.31 per diluted share, compared to the $1.1 million, or $0.28 per diluted share, reported in the second quarter of 2005, a 12% increase. Net sales for the six months were $57.5 million compared to $53.7 million for the first six months of the previous year, a 7% increase. Year to date earnings for the six month period ended July 1, 2006 were $2.4 million or $0.61 per diluted share, compared to $1.8 million or $0.47 per diluted share for the same period in 2005, a 30% increase. Leonard F. Leganza, President and CEO stated, "The sales increase in the second quarter was the fifteenth consecutive quarter of improved year-to-year sales and we continue to anticipate further increases in sales as the year progresses. It was particularly encouraging that sales at our Metal Products segment continued to improve. During the second quarter sales increased by 38% over the prior year period and included improvement in the sales of our proprietary mine roof products. We have taken some very important steps in the Metal Product segment, including the installation of new metal pouring systems which will improve the efficiency and productivity in manufacturing ductile iron castings. We have also continued our efforts toward marketing and selling our products to the Chinese mining industry." Mr. Leganza continued, "One of the strategic objectives of our Canadian Commercial Vehicle Corporation includes the development and marketing of products utilizing "light weight" honeycomb composite material. This material had been developed for the manufacture of sleeper cabs for Class 8 trailer trucks. During the second quarter shipments of products using that material were made for use in recreational vehicles, small campers for mounting on pick-up trucks and entrance doors used by the military in erecting mobile buildings. Early responses from customers were very positive." Mr. Leganza concluded, "We continue to be optimistic about our current and future opportunities and results despite the escalating costs of raw materials, utilities and health care presently being experienced." 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 (unaudited) THE EASTERN COMPANY (AMEX - EML)
THREE Months Ended SIX Months Ended 13 wks 13 wks 26 wks 26 wks July 1, 2006 July 2, 2005 July 1, 2006 July 2, 2005 ------------ ------------ ------------ ------------ Net Sales $ 29,669,159 $ 27,421,294 $ 57,529,342 $ 53,688,878 Net Income $ 1,212,557 $ 1,083,389 $ 2,356,322 $ 1,813,971 Net Income Per Share: Basic $ 0.33 $ 0.30 $ 0.65 $ 0.50 Diluted $ 0.31 $ 0.28 $ 0.61 $ 0.47 Weighted average shares outstandings: Basic 3,650,703 3,636,100 3,646,915 3,635,546 Diluted 3,881,628 3,885,059 3,870,502 3,876,236
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