Hammond Manufacturing Company Limited

Hammond Manufacturing Company Limited

March 11, 2008 11:58 ET

Hammond Manufacturing Company Limited Announces Financial Results for the Year and Fourth Quarter Ended December 31, 2007

GUELPH, ONTARIO--(Marketwire - March 11, 2008) - Hammond Manufacturing Company Limited (TSX:HMM.A) -

Twelve months ending: Three months ending:
2007 2006 2007 2006
Net sales $73,050,000 $71,005,000 $17,193,000 $17,095,000
Earnings from operations $1,027,000 $2,566,000 ($115,000) $571,000
Net earnings $172,000 $1,174,000 ($449,000) $374,000
Earnings per share $0.02 $0.10 ($0.04) $0.02

Shares outstanding 11,330,971 11,393,502
Net book value per share $1.93 $1.91

2007 was a modestly successful year, despite all the challenges for manufacturers.

As a company, we were again able to reduce our cost base and absorb much of the impact of global currency rates. The exchange rates worked against our Canadian factories.

The support of our staff and suppliers over the year was again reassuring. Our company continues to invest in long-term solutions. One of our key strategies is the expansion of our network of global customers, suppliers, and subcontractors.

In January, we completed the sale of our interest in Moloney Electric Inc (MEI). This divestiture will let us focus on our electronic and electrical products and markets. MEI will prosper under the ownership of a larger, multinational company who is in the utility market.

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