Source: Hammond Manufacturing Company Limited
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:
Robert F. Hammond
Chairman and CEO
(519) 822-2960
(519) 822-7289 (FAX)
ir@hammfg.com