10-Q Filing

EASTERN CO CIK: 31107 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000031107-16-000082`
Period End Date	20160331
Filing Date	20160429
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	eml-20160402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 26 Cash Flow Statement 50 Comprehensive Income 12

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.83M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$450.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.73M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$461.00K	USD	Point-in-time
Accounts receivable, less allowances: $461,000 - 2016; $450,000 - 2015	`AccountsReceivableNetCurrent`	$17.86M	USD	Point-in-time
Accounts receivable, less allowances: $461,000 - 2016; $450,000 - 2015	`AccountsReceivableNetCurrent`	$17.50M	USD	Point-in-time
Inventories	`InventoryNet`	$36.84M	USD	Point-in-time
Inventories	`InventoryNet`	$35.68M	USD	Point-in-time
Voting Preferred Stock, no par value (in dollars per share)	`VotingPreferredStockNoParValue`	-	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`	$2.25M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$986.17K	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$986.17K	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$75.27M	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$73.51M	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$63.44M	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`	$63.81M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$37.47M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$36.64M	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
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$26.80M	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Net Property, Plant and Equipment	`PropertyPlantAndEquipmentNet`	$26.35M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.94M	shares	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.94M	shares	Point-in-time
Goodwill	`Goodwill`	$14.79M	USD	Point-in-time
Goodwill	`Goodwill`	$14.85M	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$164.96K	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$169.84K	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$2.11M	USD	Point-in-time
Patents, technology and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$2.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.37M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$19.42M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$19.67M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$119.28M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$121.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.11M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.81M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$2.87M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.59M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.25M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.44M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$15.16M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$286.92K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$286.92K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$1.79M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$1.25M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$744.47K	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$793.05K	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$24.55M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$24.30M	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: 8,944,936 shares in 2016 and 8,942,461 shares in 2015	`CommonStockValue`	$29.04M	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,944,936 shares in 2016 and 8,942,461 shares in 2015	`CommonStockValue`	$29.00M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2016 and 2015	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2016 and 2015	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$90.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$90.56M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-976.31K	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.15M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$19.93M	USD	Point-in-time
Unrecognized net pension and postretirement benefit costs, net of tax	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$19.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.48M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$79.41M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$80.01M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$121.74M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$119.28M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$33.10M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$36.88M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$29.54M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$26.68M	USD	1 Quarter
Gross margin	`GrossProfit`	$7.34M	USD	1 Quarter
Gross margin	`GrossProfit`	$6.42M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.96M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.46M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.37M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$960.86K	USD	1 Quarter
Interest expense	`InterestExpense`	$36.28K	USD	1 Quarter
Interest expense	`InterestExpense`	$52.83K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$7.01K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$21.37K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$945.95K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.33M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$451.71K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$297.88K	USD	1 Quarter
Net income	`NetIncomeLoss`	$873.95K	USD	1 Quarter
Net income	`NetIncomeLoss`	$648.07K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	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`	$0.11	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$873.95K	USD	1 Quarter
Net income	`NetIncomeLoss`	$648.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$928.14K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$959.86K	USD	1 Quarter
Unrecognized pension & postretirement benefits	`UnrecognizedPensionAndPostretirementBenefits`	$848.17K	USD	1 Quarter
Unrecognized pension & postretirement benefits	`UnrecognizedPensionAndPostretirementBenefits`	$851.93K	USD	1 Quarter
Loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-19.78K	USD	1 Quarter
Loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$39.60K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`OtherNoncashExpense`	$7.50K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.32M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$339.04K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-33.40K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.25M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$127.99K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$140.97K	USD	1 Quarter
Recoverable income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-380.00K	USD	1 Quarter
Recoverable income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-57.21K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$19.98K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.34M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.30K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.35M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.10M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-161.98K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$989.38K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$326.87K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$657.73K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$338.27K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$820.16K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-338.27K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-820.16K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$714.28K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$357.14K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$686.84K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$687.44K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.04M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.40M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-161.88K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.64K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.09M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.83M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.83M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.73M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$873.95K	USD	1 Quarter
Net income	`NetIncomeLoss`	$648.07K	USD	1 Quarter
Change in pension and postretirement benefit costs, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$233.17K	USD	1 Quarter
Change in pension and postretirement benefit costs, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$186.51K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-594.33K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$177.79K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2016 - $233,167 2015 - $186,514	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-339.59K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of taxes of: 2016 - $233,167 2015 - $186,514	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-424.53K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$602.32K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-254.74K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$619.21K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.25M	USD	1 Quarter

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