Hammond Manufacturing Company Limited
TSX : HMM.A

Hammond Manufacturing Company Limited

July 21, 2011 10:19 ET

Hammond Manufacturing Company Limited Announces Financial Results for the Second Quarter Ended July 1, 2011

GUELPH, ONTARIO--(Marketwire - July 21, 2011) - HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces financial results for the second quarter ended July 1, 2011:

Six months ending: Three months ending:
7/1/11 7/2/10 7/1/11 7/2/10
Net Sales $ 42,466,000 $ 39,591,000 $ 20,735,000 $ 19,974,000
Earnings from operating activities(*) 1,795,000 1,819,000 237,000 918,000
Profit for Period 1,068,000 928,000 96,000 483,000
Total comprehensive income for the period 877,000 972,000 110,000 852,000
Earnings per share
Basic $ 0.09 $ 0.08 $ 0.00 $ 0.04
Diluted $ 0.09 $ 0.08 $ 0.00 $ 0.04
Shares outstanding 11,334,300 11,334,300 11,334,300 11,334,300
Net Book value per share $ 2.53 $ 2.39 $ 2.53 $ 2.39
(*) 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:

Lower levels of production, a high Canadian dollar and higher spending on everything from sales, new machinery and parking lot repairs hurt our profits in Q2.

Increasing material costs, a high Canadian dollar and a low growth marketplace will challenge us going forward.

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
    (519) 822-7289 (FAX)
    ir@hammfg.com