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Hammond Manufacturing Company Limited Announces Financial Results for the Third Quarter Ended September 30, 2011


//science-technology.news-articles.net/content/2 .. r-the-third-quarter-ended-september-30-2011.html
Published in Science and Technology on Thursday, October 20th 2011 at 8:57 GMT by Market Wire   Print publication without navigation


October 20, 2011 11:49 ET

Hammond Manufacturing Company Limited Announces Financial Results for the Third Quarter Ended September 30, 2011

GUELPH, ONTARIO--(Marketwire - Oct. 20, 2011) -HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces financial results for the third quarter ended September 30, 2011:

Nine months ending:Three months ending:
9/30/1110/1/109/30/1110/1/10
Net Sales$63,477,000$59,317,000$21,011,000$19,726,000
Earnings from operating activities(*)2,225,0003,066,000430,0001,247,000
Profit for Period1,171,0001,781,000103,000853,000
Total comprehensive income for the period1,848,0001,568,000971,000596,000
Earnings per share
Basic$0.10$0.16$0.01$0.08
Diluted$0.10$0.16$0.01$0.08
Shares outstanding11,334,30011,334,30011,334,30011,334,300
Net Book value per share$2.59$2.42$2.59$2.42
(*) 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:

New orders in Q3 exceeded our forecasts and taxed our capacity in our Guelph factory.

Operating earnings reflect the costs of responding to this surge in backlog level with increased staffing and capacity. Moreover, production was disrupted by a very hot July and August that resulted in lower outputs.

Our focus for Q4/11 is on the recovery of our service levels at normalized productivity levels.

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.




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