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The Eastern Company Reports First Quarter 2021 Results Net Sales Increase 12% to a New Record $73.1 Million; First Quarter 2021 Earnings More Than Doubled to $0.93 per Diluted Share

The Eastern Company Reports Results for the Fourth Quarter Fiscal 2020


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A Rebound in Sales to $60.4 Million and Backlog to $85.0 Million, as Many Markets Return to Pre-Pandemic Demand
NAUGATUCK, CT / ACCESSWIRE / March 15, 2021 / The Eastern Company ( Eastern or the Company ) (NASDAQ:EML), a manufacturer of unique engineered solutions serving industrial markets, today announced the results of operations for the fourth quarter and fiscal year ended January 2, 2021.
Eastern s comprehensive program to maintain the health and safety of employees resulted in no closures and no interruption of operations related to the COVID-19 pandemic at any of its 21 facilities during the fourth quarter of fiscal 2020.
Net sales were $60.4 million in the fourth quarter of fiscal 2020. The Company experienced a sharp recovery in demand to pre-pandemic levels across most of its end-markets. However, the divestiture of our composite panel businesses, delays in new automotive launches, and lower sales to mining customers caused fourth quarter sales t ....

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