Hammond Manufacturing Company Limited
TSX : HMM.A

Hammond Manufacturing Company Limited

October 21, 2010 15:32 ET

Hammond Manufacturing Company Limited Announces Financial Results for the Third Quarter Ended October 1, 2010

GUELPH, ONTARIO--(Marketwire - Oct. 21, 2010) - HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces financial results for the third quarter ended October 1, 2010:

      Nine months ending:       Three months ending:  
      10/1/10     10/2/09       10/1/10     10/2/09  
Net Sales   $ 59,317,000   $ 53,216,000     $ 19,726,000   $ 16,499,000  
Earnings from operations(*)     3,111,000     1,370,000       1,262,000     (124,000 )
Net Earnings     1,578,000     (113,000 )     775,000     (564,000 )
Earnings per share   $ 0.14   $ (0.01 )   $ 0.07   $ (0.05 )
                             
Shares outstanding     11,334,300     11,334,300                
Net Book value per share   $ 2.43   $ 2.40                

(*) Earnings from operations is before interest, foreign exchange, equity and taxes

To all employees and shareholders:

The team efforts to deal with the recession are being successful and third quarter sales increased 19.6% from the same period last year. However this was only 3.6% over the pre-recession 2008 third quarter.

With the Canadian dollar close to par with the US dollar and signs that the economy is slowing we have to be cautious with our outlook. We will continue to manage conservatively.

Our focus continues to be cost reduction, customer service and product innovation.

We believe this strategy will build shareholder value and a secure company.

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