Hammond Manufacturing Company Limited Announces Financial Results for the First Quarter Ended April 1, 2011
05 Maio 2011 - 12:45PM
Marketwired Canada
HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces financial results
for the first quarter ended April 1, 2011:
Three months ending:
4/1/11 4/2/10
Net Sales $21,731,000 $19,617,000
Earnings from operations(i) 1,558,000 911,000
Net Earnings 767,000 129,000
Earnings per share $0.07 $0.01
Shares outstanding 11,334,300 11,334,300
Net Book value per share $2.49 $2.32
(i) Earnings from operations is before interest, foreign exchange, equity
interest, other income and taxes
NOTE: All numbers have been stated under IFRS
The interim financial results have not been reviewed by an auditor
To all employees and shareholders:
Our first quarter was busy as sales increased 10.8% from the first quarter 2010
to $21.7 million.
Earnings reflected the higher level of capacity utilization and grew to $767,000
or 7 cents per share.
Going forward we will be facing headwinds from the high value of the Canadian
dollar and the requirement for investments in new capacity.
Special appreciation is due to all staff that made this quarter possible. Our
quality products and service excellence is our strength.
Hammond Manufacturing Company Limited manufactures a broad range of products for
the electronic and electrical products industry, including metallic and
non-metallic enclosures, racks, small cases, outlet strips, surge suppressors
and electronic transformers.
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