10-Q Filing

EASTERN CO CIK: 31107 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000031107-13-000014`
Period End Date	20130331
Filing Date	20130426
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	eml-20130330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 90 Income Statement 26 Cash Flow Statement 56 Comprehensive Income 12

Balance Sheet 90 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$522.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.96M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$487.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Accounts receivable, less allowances: $522,000 - 2013; $487,000 - 2012	`AccountsReceivableNetCurrent`	$18.37M	USD	Point-in-time
Accounts receivable, less allowances: $522,000 - 2013; $487,000 - 2012	`AccountsReceivableNetCurrent`	$18.37M	USD	Point-in-time
Inventories	`InventoryNet`	$29.38M	USD	Point-in-time
Inventories	`InventoryNet`	$29.79M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.37M	USD	Point-in-time
Voting Preferred Stock, no par value (in dollars per share)	`VotingPreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.14M	USD	Point-in-time
Voting Preferred Stock, no par value (in dollars per share)	`VotingPreferredStockNoParValue`	-	USD	Point-in-time
Recoverable income taxes receivable	`IncomeTaxesReceivable`	$1.16M	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Recoverable income taxes receivable	`IncomeTaxesReceivable`	$408.63K	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.06M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.06M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$71.82M	USD	Point-in-time
Nonvoting Preferred Stock, shares authorized (in shares)	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$69.67M	USD	Point-in-time
Nonvoting Preferred Stock, shares authorized (in shares)	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$59.30M	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$58.13M	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$32.47M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$33.31M	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$25.66M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.91M	shares	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.91M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$25.99M	USD	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`	$171.31K	USD	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$170.51K	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.65M	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.64M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.46M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.61M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$18.37M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$18.18M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$113.83M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$115.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.59M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.40M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$3.45M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.96M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.41M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.43M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.38M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$14.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$607.46K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$607.46K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$6.07M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$5.71M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$2.51M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$2.57M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$20.43M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$20.18M	USD	Point-in-time
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares	`PreferredStockNoParValueVoting`	-	USD	Point-in-time
Voting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares	`PreferredStockNoParValueVoting`	-	USD	Point-in-time
Nonvoting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares	`PreferredStockNoParValueNonvoting`	-	USD	Point-in-time
Nonvoting Preferred Stock, no par value: Authorized and unissued: 1,000,000 shares	`PreferredStockNoParValueNonvoting`	-	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,914,738 shares in 2013 and 8,914,478 shares in 2012	`CommonStockValue`	$28.59M	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,914,738 shares in 2013 and 8,914,478 shares in 2012	`CommonStockValue`	$28.59M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2013 and 2012	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2013 and 2012	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$78.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.10M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$2.64M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$2.54M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$19.26M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$18.99M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.45M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.62M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$71.58M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$72.14M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$115.85M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$113.83M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$34.69M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$40.50M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$32.31M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$28.43M	USD	1 Quarter
Gross margin	`GrossProfit`	$6.27M	USD	1 Quarter
Gross margin	`GrossProfit`	$8.18M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.68M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.02M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.59M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$3.17M	USD	1 Quarter
Interest expense	`InterestExpense`	$89.24K	USD	1 Quarter
Interest expense	`InterestExpense`	$86.08K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$8.59K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$6.14K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.51M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.09M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$502.55K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$1.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$949.55K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$817.56K	USD	1 Quarter
Loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.81K	USD	1 Quarter
Loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-14.05K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$24.16K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$37.86K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$6.15K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$4.61K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$77.54K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.98M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$370.92K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$161.27K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$374.21K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$307.03K	USD	1 Quarter
Prepaid pension cost	`IncreaseDecreaseInPrepaidPensionCosts`	$-186.61K	USD	1 Quarter
Prepaid pension cost	`IncreaseDecreaseInPrepaidPensionCosts`	$-664.77K	USD	1 Quarter
Recoverable taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-750.00K	USD	1 Quarter
Recoverable taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-647.95K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$21.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$47.06K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.41K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$300.85K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.04M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.10M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.64M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$136.84K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.05M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$706.03K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.54M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.26M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.54M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.26M	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`	-	USD	1 Quarter
Principal payments on revolving credit loan	`RepaymentsOfLinesOfCredit`	$3.00M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$621.98K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$621.39K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.20M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-979.12K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$95.93K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-60.49K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.81M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.59M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.48M	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`	$16.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.48M	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`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.05M	USD	1 Quarter
Change in pension and postretirement benefit costs, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$146.92K	USD	1 Quarter
Change in pension and postretirement benefit costs, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$98.08K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-101.08K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$462.88K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2013 - $146,916 2012 - $98,085	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-180.17K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2013 - $146,916 2012 - $98,085	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-269.04K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$643.06K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$167.96K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.69M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.17M	USD	1 Quarter

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