8-K

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 23, 2014

(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)

________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2)

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4( c) under the Exchange Act (17 CFR 240.13e-4( c))

Section 2 – Financial Information

ITEM 2.02 - Results of Operations and Financial Condition

Press Release dated July 23, 2014 announcing the second quarter earnings for 2014 is attached hereto.

Section 7 – Regulation FD

ITEM 7.01 - Regulation FD Disclosure

On July 23, 2014, The Eastern Company released the second quarter earnings of 2014.  A copy of the Press Release dated July 23, 2014 announcing the second quarter earnings for 2014 is attached hereto.

Section 9 – Financial Statements and Exhibits

ITEM 9.01 - (d) Exhibits

(99)   Press Release dated July 23, 2014 announcing the second quarter earnings for 2014.

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 23, 2014	/s/John L. Sullivan III
	John L. Sullivan III Vice President and Chief Financial Officer

EX-99

Exhibit 99

FOR IMMEDIATE RELEASE

July 23, 2014

THE EASTERN COMPANY REPORTS RESULTS

FOR THE SECOND QUARTER AND SIX MONTHS OF 2014

Naugatuck, CT–The Eastern Company (NASDAQ-EML)today announced the results of its operations for the second quarter and six months of 2014.  Sales for the quarter were $34.8 million, compared to $39.2 million for the same period in 2013, an 11% decrease, while net income was $1.7 million or $0.27 per diluted share, compared to the $2.2 million or $0.35 per diluted share, reported in the second quarter of 2013, a 22% decrease.

Net sales for the six months of 2014 were $70.6 million compared to $73.9 million for the first six months of 2013, a 5% decrease. For the six month period ended June 28, 2014 net income was $3.2 million or $0.51 per diluted share, compared to $3.2 million or $0.51 per diluted share for the same period in 2013.

Leonard F. Leganza, Chairman, President and CEO, stated, “For the first six months of 2014, our sales levels decreased 5% compared to the 2013 period.  The Industrial Hardware segment was negatively impacted because of lower sales of lightweight composite panels used in an electronic white board product and composite panels used in the fracking industry.  The decrease in panel sales used in construction of a fracking tank was the unexpected result of the customer exiting the fracking business.  The Metal Products segment was affected by lower sales of mining products in both the U.S. and Canadian mining markets.  We currently view that as a temporary situation where customers are adjusting inventories. For the six month period, sales did increase in the Security Products segment, which benefited from increased sales to the commercial laundry industry.”

Mr. Leganza continued, “During the second quarter of 2014, sales levels in all of our business segments were lower than 2013 levels as well as compared to our operating plans.  The general softness in the economy and its effect on the many original equipment manufacturers which we supply were not what we expected.  We will as always continue to emphasize the development of new products to offset some of the current softness in our markets and we will continue to vigorously pursue acquisitions that fit into our strategic growth plans.  We will also continue our ongoing efforts toward improving the Company’s profitability and cash flow.”

Mr. Leganza added, “The Company is currently in the process of establishing a lightweight composite panel facility in North Carolina to supply a new line of Class 8 trucks that is scheduled to be produced in the near future.  The Company also plans to use this location to expand our marketing and sales of panels throughout the eastern United States.”

Mr. Leganza concluded, “In line with our on-going goal of enhancing shareholder value and reflecting the confidence we have in our current business plans, the Board of Director’s today voted to pay a one-time extra dividend of four cents ($0.04) along with the regular quarterly dividend of eleven cents ($0.11) in the third quarter of 2014, payable on September 15, 2014.  This dividend will represent the Company’s 296th consecutive quarterly dividend, a 74-year track record we are very proud of!”

The Eastern Company is a 156-year-old manufacturer of industrial hardware, security products and metal castings.  It operates from eleven 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 is 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 (NASDAQ - EML)
		THREE Months Ended		SIX Months Ended
		13 wks	13 wks	26 wks	26 wks
		June 28, 2014	June 29, 2013	June 28, 2014	June 29, 2013
Net Sales		$ 34,779,773	$  39,247,980	$70,628,899	$73,940,154
Net Income		$   1,693,503	$   2,174,294	$  3,196,388	$  3,179,542
Net Income Per Share:
	Basic	$           0.27	$           0.35	$          0.51	$          0.51
	Diluted	$           0.27	$           0.35	$          0.51	$          0.51
Weighted average
shares outstandings:
	Basic	6,222,676	6,220,569	6,222,444	6,220,171
	Diluted	6,239,866	6,238,025	6,239,507	6,237,433