10-Q Filing

EASTERN CO CIK: 31107 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000031107-17-000022`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	eml-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 92 Income Statement 26 Cash Flow Statement 52 Comprehensive Income 16

Balance Sheet 92 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.58M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$430.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.73M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$389.00K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$215.92K	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	-	USD	Point-in-time
Accounts receivable, less allowances: $389,000 - 2017; $430,000 - 2016	`AccountsReceivableNetCurrent`	$19.96M	USD	Point-in-time
Accounts receivable, less allowances: $389,000 - 2017; $430,000 - 2016	`AccountsReceivableNetCurrent`	$18.14M	USD	Point-in-time
Inventories	`InventoryNet`	$34.03M	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
Inventories	`InventoryNet`	$32.51M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.86M	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.98M	USD	Point-in-time
Voting Preferred Stock, shares authorized (in shares)	`VotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$78.24M	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$76.75M	USD	Point-in-time
Nonvoting Preferred Stock, no par value (in dollars per share)	`NonvotingPreferredStockNoParValue`	-	USD	Point-in-time
Nonvoting Preferred Stock, shares authorized (in shares)	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$65.44M	USD	Point-in-time
Nonvoting Preferred Stock, shares authorized (in shares)	`NonvotingPreferredStockSharesAuthorizedInShares`	1.00M	shares	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$64.91M	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$39.64M	USD	Point-in-time
Common Stock, no par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$38.75M	USD	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$26.17M	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
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$25.80M	USD	Point-in-time
Goodwill	`Goodwill`	$14.83M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.95M	shares	Point-in-time
Goodwill	`Goodwill`	$14.82M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.95M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$170.04K	USD	Point-in-time
Common Stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.26M	shares	Point-in-time
Common Stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.26M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$166.31K	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
Patents, technology, and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.69M	USD	Point-in-time
Patents, technology, and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$1.76M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$4.42M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$4.53M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$21.10M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$21.28M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$125.15M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$124.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.05M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$3.11M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.82M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.14M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.81M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$892.86K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$714.28K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.64M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.87M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$288.81K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$288.81K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$714.29K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$892.86K	USD	Point-in-time
Accrued other postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$1.05M	USD	Point-in-time
Accrued other postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$1.05M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$26.63M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$26.45M	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: 8,952,961 shares in 2017 and 8,950,827 shares in 2016 Outstanding: 6,258,233 shares in 2017 and 6,256,098 shares in 2016	`CommonStockValue`	$29.19M	USD	Point-in-time
Common Stock, no par value: Authorized: 50,000,000 shares Issued: 8,952,961 shares in 2017 and 8,950,827 shares in 2016 Outstanding: 6,258,233 shares in 2017 and 6,256,098 shares in 2016	`CommonStockValue`	$29.15M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2017 and 2016	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2017 and 2016	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$96.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$95.63M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.69M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-2.17M	USD	Point-in-time
Marketable securities, net of tax	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.45K	USD	Point-in-time
Marketable securities, net of tax	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	Point-in-time
Unrecognized net pension and other postretirement benefit costs, net of taxes	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$21.04M	USD	Point-in-time
Unrecognized net pension and other postretirement benefit costs, net of taxes	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$20.83M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-22.53M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.20M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$84.02M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$82.47M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$124.20M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$125.15M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$36.04M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$33.10M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$27.76M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$26.68M	USD	1 Quarter
Gross margin	`GrossProfit`	$6.42M	USD	1 Quarter
Gross margin	`GrossProfit`	$8.29M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.46M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.05M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$960.86K	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$2.24M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.02K	USD	1 Quarter
Interest expense	`InterestExpense`	$36.28K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$19.65K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$21.37K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.23M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$945.95K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$717.69K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$297.88K	USD	1 Quarter
Net income	`NetIncomeLoss`	$648.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.52M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	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`	$0.11	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$648.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$955.61K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$928.14K	USD	1 Quarter
Unrecognized pension & other postretirement benefits	`UnrecognizedPensionAndPostretirementBenefits`	$851.93K	USD	1 Quarter
Unrecognized pension & other postretirement benefits	`UnrecognizedPensionAndPostretirementBenefits`	$127.93K	USD	1 Quarter
(Gain)/loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-33.10K	USD	1 Quarter
(Gain)/loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-19.78K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$6.38K	USD	1 Quarter
Issuance of common stock for directors' fees	`StockIssuedDuringPeriodValueIssuedForDirectorsServices`	$41.51K	USD	1 Quarter
Issuance of common stock for directors' fees	`StockIssuedDuringPeriodValueIssuedForDirectorsServices`	$39.60K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$339.04K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.72M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.69M	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`	$84.75K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$35.21K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$19.98K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$901.50K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.34M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.10M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.32M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-161.98K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$279.73K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.39M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$657.73K	USD	1 Quarter
Marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Marketable securities	`PaymentsToAcquireMarketableSecurities`	$215.92K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$487.17K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$338.27K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-703.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-338.27K	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`	$688.34K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$687.44K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.40M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.05M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.64K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$212.90K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$855.92K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.09M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.58M	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`	$22.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.58M	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`	$22.73M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$648.07K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.52M	USD	1 Quarter
Change in marketable securities, income taxes expense (benefit)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	-	USD	1 Quarter
Change in marketable securities, income taxes expense (benefit)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$-792.00	USD	1 Quarter
Change in pension and postretirement benefit costs, income taxes (expense)/benefit	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$112.86K	USD	1 Quarter
Change in pension and postretirement benefit costs, income taxes (expense)/benefit	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$233.17K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$471.97K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$177.79K	USD	1 Quarter
Change in marketable securities, net of tax benefit of: 2017 - ($792) 2016 - $ -	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Change in marketable securities, net of tax benefit of: 2017 - ($792) 2016 - $ -	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.45K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of tax expense of: 2017 - $112,864 2016 - $233,167	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-424.53K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of tax expense of: 2017 - $112,864 2016 - $233,167	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-206.68K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$602.32K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$677.20K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.19M	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.