10-Q Filing

EASTERN CO CIK: 31107 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000031107-14-000014`
Period End Date	20140331
Filing Date	20140425
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	eml-20140329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 26 Cash Flow Statement 52 Comprehensive Income 12

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.99M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$436.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.48M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$410.00K	USD	Point-in-time
Accounts receivable, less allowances: $436,000 - 2014; $410,000 - 2013	`AccountsReceivableNetCurrent`	$16.28M	USD	Point-in-time
Accounts receivable, less allowances: $436,000 - 2014; $410,000 - 2013	`AccountsReceivableNetCurrent`	$18.18M	USD	Point-in-time
Inventories	`InventoryNet`	$30.27M	USD	Point-in-time
Inventories	`InventoryNet`	$30.66M	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`	$3.42M	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`	$3.24M	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$818.66K	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$818.66K	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$71.20M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$70.99M	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$62.14M	USD	Point-in-time
Nonvoting Preferred Stock, shares authorized (in shares)	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Nonvoting Preferred Stock, shares authorized (in shares)	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$61.85M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.96M	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.46M	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$27.39M	USD	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$27.18M	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.92M	shares	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.92M	shares	Point-in-time
Goodwill	`Goodwill`	$13.80M	USD	Point-in-time
Goodwill	`Goodwill`	$13.84M	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$173.18K	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$174.66K	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.46M	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.43M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$15.47M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$15.41M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$113.79M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$113.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.30M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$3.01M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.56M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.20M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.79M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.79M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.85M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$13.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.21M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$248.42K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$248.42K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$3.93M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$4.29M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$2.23M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$2.29M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$11.11M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$10.86M	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: 8,917,354 shares in 2014 and 8,916,897 shares in 2013	`CommonStockValue`	$28.63M	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,917,354 shares in 2014 and 8,916,897 shares in 2013	`CommonStockValue`	$28.62M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2014 and 2013	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2014 and 2013	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$83.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$83.83M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.62M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.98M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$12.82M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$13.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.02M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$82.15M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$81.50M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$113.86M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$113.79M	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`	$35.85M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$28.34M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$28.43M	USD	1 Quarter
Gross margin	`GrossProfit`	$7.51M	USD	1 Quarter
Gross margin	`GrossProfit`	$6.27M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.22M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.68M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.59M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$2.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$68.57K	USD	1 Quarter
Interest expense	`InterestExpense`	$86.08K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$8.59K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$7.28K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.24M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.51M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$732.95K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$502.55K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Cash dividends per share: (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.11	USD	1 Quarter
Cash dividends per share: (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$949.55K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$823.32K	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`	$-85.62K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$24.16K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$27.37K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$4.61K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$7.49K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$77.54K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.99M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$370.92K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-299.77K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$307.03K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$176.41K	USD	1 Quarter
Prepaid pension cost	`IncreaseDecreaseInPrepaidPensionCosts`	$-664.77K	USD	1 Quarter
Prepaid pension cost	`IncreaseDecreaseInPrepaidPensionCosts`	$-539.85K	USD	1 Quarter
Recoverable taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Recoverable taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-750.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$47.06K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$48.59K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.05M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.41K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.64M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.04M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-62.85K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$136.84K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$413.30K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$706.03K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.26M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$690.04K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.26M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-690.04K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$357.14K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$357.14K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$684.44K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$621.98K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-979.12K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.04M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-60.49K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-151.71K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.59M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.47M	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`	$18.52M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.99M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.48M	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`	$18.52M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.48M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.01M	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`	$100.35K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-366.53K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-101.08K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2014 - $100,350; 2013 - $146,916	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-269.04K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2014 - $100,350; 2013 - $146,916	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-184.33K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-182.20K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$167.96K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.17M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.32M	USD	1 Quarter

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