EASTERN CO
For the period ended Sep 28, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 28, 2024 · Filed Nov 5, 2024
EML$29.48+8.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| September 28, 2024 | September 30, 2023 | September 28, 2024 | September 30, 2023 | |
| Net sales | $71,274,757 | $62,001,347 | $206,068,490 | $195,062,061 |
| Cost of products sold | (53,085,087) | (46,556,952) | (154,161,980) | (150,371,589) |
| Gross margin | 18,189,670 | 15,444,395 | 51,906,510 | 44,690,472 |
| Product development expense | (1,077,930) | (1,425,159) | (3,739,214) | (4,257,468) |
| Selling and administrative expenses | (10,316,788) | (8,452,163) | (31,014,022) | (29,051,436) |
| Operating profit | 6,794,952 | 5,567,073 | 17,153,274 | 11,381,568 |
| Interest expense | (709,680) | (854,223) | (2,049,655) | (2,059,912) |
| Other (expense) income | (82,703) | (135,839) | (92,415) | 1,025,582 |
| Income from continuing operations before income taxes | 6,002,569 | 4,577,011 | 15,011,204 | 10,347,238 |
| Income tax expense | (1,333,771) | (1,113,587) | (3,335,489) | (2,574,393) |
| Net income from continuing operations | $4,668,798 | $3,463,424 | $11,675,715 | $7,772,845 |
| Discontinued Operations (see note B) | ||||
| Loss from operations of discontinued unit | $(766,990) | $(530,764) | $(2,750,844) | $(3,600,060) |
| Loss on classification as held for sale | (23,087,775) | - | (23,087,775) | - |
| Income tax benefit | 3,888,522 | 129,298 | 4,320,904 | 895,695 |
| Loss on discontinued operations | $(19,966,243) | $(401,466) | $(21,517,715) | $(2,704,365) |
| Net (loss) income | $(15,297,445) | $3,061,958 | $(9,842,000) | $5,068,480 |
| Earnings per share from continuing operations: | ||||
| Basic | $0.75 | $0.55 | $1.88 | $1.25 |
| Diluted | $0.75 | $0.55 | $1.87 | $1.24 |
| Loss per share from discontinued operations: | ||||
| Basic | $(3.22) | $(0.06) | $(3.46) | $(0.43) |
| Diluted | $(3.21) | $(0.06) | $(3.45) | $(0.43) |
| Total (loss) earnings per share: | ||||
| Basic | $(2.47) | $0.49 | $(1.58) | $0.82 |
| Diluted | $(2.46) | $0.49 | $(1.58) | $0.81 |
| Cash dividends per share | $0.11 | $0.11 | $0.33 | $0.33 |
| See accompanying notes. | ||||
THE EASTERN COMPANY AND SUBSIDIARIES
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