Hammond Manufacturing Company Limited

Hammond Manufacturing Company Limited

May 06, 2009 13:11 ET

Hammond Manufacturing Company Limited Announces Financial Results for the First Quarter Ended April 3, 2009

GUELPH, ONTARIO--(Marketwire - May 6, 2009) - Hammond Manufacturing Company Limited (TSX:HMM.A) -

   Three months ending:
   4/3/2009  3/28/2008
Net Sales $  19,760,000 $18,508,000
Earnings from operations $932,000 $382,000
Net Earnings $438,000 $2,034,000
Earnings per share $0.04 $0.18
Average Shares outstanding  11,334,300  11,334,300
Net Book value per share $2.40 $2.11

We are beginning to feel the impact of the slowing economy in the first quarter of 2009. Sales are down 4.3% from the fourth quarter of 2008 and we have taken short-term actions to adjust our capacity levels in line with the decline in sales.

We will continue to monitor the situation closely and manage for the long-term needs of our business.

Our continued success is due to the combined outputs of many individuals. We remain dedicated to our long-term plan of supplying high value products to a global market from a secure and profitable organization.

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.

Contact Information

  • Hammond Manufacturing Company Limited
    Robert F. Hammond
    Chairman and CEO
    (519) 822-2960
    Fax: (519) 822-7289