10-Q Filing

EASTERN CO CIK: 31107 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000031107-12-000015`
Period End Date	20120331
Filing Date	20120430
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	eml-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 26 Cash Flow Statement 60 Comprehensive Income 12

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$423.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$464.00K	USD	Point-in-time
Accounts receivable, less allowances: $464,000 - 2012; $423,000 - 2011	`AccountsReceivableNetCurrent`	$18.63M	USD	Point-in-time
Accounts receivable, less allowances: $464,000 - 2012; $423,000 - 2011	`AccountsReceivableNetCurrent`	$20.74M	USD	Point-in-time
Inventories	`InventoryNet`	$30.16M	USD	Point-in-time
Inventories	`InventoryNet`	$29.79M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.31M	USD	Point-in-time
Voting Preferred Stock No Par Value	`VotingPreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.07M	USD	Point-in-time
Voting Preferred Stock No Par Value	`VotingPreferredStockNoParValue`	-	USD	Point-in-time
Recoverable income taxes receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Voting Preferred Stock Shares Authorized In Shares	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Recoverable income taxes receivable	`IncomeTaxesReceivable`	$647.95K	USD	Point-in-time
Voting Preferred Stock Shares Authorized In Shares	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.88M	USD	Point-in-time
Nonvoting Preferred Stock No Par Value	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Nonvoting Preferred Stock No Par Value	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Nonvoting Preferred Stock Shares Authorized In Shares	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$68.80M	USD	Point-in-time
Nonvoting Preferred Stock Shares Authorized In Shares	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$65.42M	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$54.86M	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$56.51M	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$31.05M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$30.23M	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$24.63M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.91M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$25.46M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.91M	shares	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Goodwill	`Goodwill`	$13.91M	USD	Point-in-time
Goodwill	`Goodwill`	$13.93M	USD	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$152.45K	USD	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$155.34K	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.77M	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.74M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$723.40K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$821.49K	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$16.54M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$16.65M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$106.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$110.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.41M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$3.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.90M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.07M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.71M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$14.19M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$16.19M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$655.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$655.00K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$3.04M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$7.14M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$1.87M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$1.85M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$15.71M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$15.81M	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,908,928 shares in 2012 and 8,908,607 shares in 2011	`CommonStockValue`	$28.51M	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,908,928 shares in 2012 and 8,908,607 shares in 2011	`CommonStockValue`	$28.50M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2012 and 2011	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2012 and 2011	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$74.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$73.20M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$2.57M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$2.11M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$15.36M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$15.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.44M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.79M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$69.16M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$71.23M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$110.81M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$106.70M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$40.50M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$33.19M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$32.31M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$26.87M	USD	1 Quarter
Gross margin	`GrossProfit`	$8.18M	USD	1 Quarter
Gross margin	`GrossProfit`	$6.32M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.02M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.60M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$3.17M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.72M	USD	1 Quarter
Interest expense	`InterestExpense`	$67.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$89.24K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$6.14K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$6.45K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.66M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.09M	USD	1 Quarter
Income taxes	`CurrentIncomeTaxExpenseBenefit`	$560.32K	USD	1 Quarter
Income taxes	`CurrentIncomeTaxExpenseBenefit`	$1.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.10M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.09	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$907.73K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$817.56K	USD	1 Quarter
Loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-14.05K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$37.86K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$6.23K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$6.16K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$6.15K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.79M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.98M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$161.27K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$651.04K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$374.21K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$425.50K	USD	1 Quarter
Prepaid pension cost	`IncreaseDecreaseInPrepaidPensionCosts`	$-186.61K	USD	1 Quarter
Prepaid pension cost	`IncreaseDecreaseInPrepaidPensionCosts`	$-261.20K	USD	1 Quarter
Recoverable taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Recoverable taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-647.95K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$21.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$16.26K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$300.85K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$188.90K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.53M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.10M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.64M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$477.81K	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.47M	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.05M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.54M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$813.66K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-813.66K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.54M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$357.14K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$178.57K	USD	1 Quarter
Principal payments on revolving credit loan	`RepaymentsOfLinesOfCredit`	$3.00M	USD	1 Quarter
Principal payments on revolving credit loan	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.00M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from sales of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$52.59K	USD	1 Quarter
Proceeds from sales of Common Stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Tax Benefit from disqualifying disposition of incentive stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$16.45K	USD	1 Quarter
Tax Benefit from disqualifying disposition of incentive stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$554.72K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$621.39K	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.20M	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-842.82K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-14.27K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$95.93K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.14M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.81M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.10M	USD	1 Quarter
Change in pension and postretirement benefit costs, taxes	`OtherComprehensiveIncomeDefinedBenefitPlansTax`	$98.08K	USD	1 Quarter
Change in pension and postretirement benefit costs, taxes	`OtherComprehensiveIncomeDefinedBenefitPlansTax`	$93.38K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$303.19K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$462.88K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2012 - $98,085 2011 - $93,381	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease`	$172.77K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2012 - $98,085 2011 - $93,381	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease`	$180.17K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$475.96K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$643.06K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.69M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.57M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.