Hammond Manufacturing Company Limited Announces Financial Results for the Second Quarter Ending June 27, 2008
2008-07-24 09:49:00
Hammond Manufacturing Company Limited Announces Financial Results for the Second Quarter Ending June 27, 2008
GUELPH, ONTARIO–(EMWNews – July 24, 2008) – Hammond Manufacturing Company Limited (TSX:HMM.A) –
Six months ending: Three months ending:
6/27/08 6/29/07 6/27/08 6/29/07
Net Sales $ 38,484,000 $ 37,617,000 $ 19,976,000 $ 19,358,000
Earnings from operations $ 822,000 $ 1,332,000 $ 440,000 $ 985,000
Net Earnings $ 2,138,000 $ 606,000 $ 104,000 $ 432,000
Earnings per share $ 0.19 $ 0.05 $ 0.01 $ 0.04
Shares outstanding 11,334,300 11,334,300
Net Book value per share $ 2.12 $ 1.96
Our second quarter continued to provide modest returns as the Canadian dollar remained close to par with the US$. We are managing with a focus on cost reduction and an aggressive pursuit of sales opportunities in our global markets. Gross margins remained consistent at approx. 26% as we balance pricing with increases in steel and other raw materials.
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.
For more information, please contact Hammond Manufacturing Company Limited |
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