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Hammond Manufacturing Company Limited Announces Financial Results for the First Quarter Ended March 30, 2012

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May 03, 2012 12:18 ET

Hammond Manufacturing Company Limited Announces Financial Results for the First Quarter Ended March 30, 2012

GUELPH, ONTARIO--(Marketwire - May 3, 2012) -HAMMOND MANUFACTURING COMPANY LIMITED (TSX:HMM.A) announces financial results for the first quarter ended March 30, 2012:

Three months ending:
March 30, 2012April 1, 2011
Net Sales$23,714,000$21,731,000
Earnings from operating activities(*)803,0001,558,000
Income for Period520,000972,000
Earnings per share
Basic$0.05$0.09
Diluted$0.05$0.09
(*) Earnings from operations is before interest, foreign exchange, equity interest, other income and taxes
NOTE: The interim financial results have not been reviewed by an auditor

To all employees and shareholders:

Sales growth continues with pressures from a high Canadian dollar and a large volume of low margin work.

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.