10-Q Filing

EASTERN CO CIK: 31107 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000031107-18-000019`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	eml-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 28 Cash Flow Statement 54 Comprehensive Income 19

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.58M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$389.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.73M	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$477.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.28M	USD	Point-in-time
Accounts receivable, less allowances: $477,000 - 2018; $389,000 - 2017	`AccountsReceivableNetCurrent`	$30.30M	USD	Point-in-time
Accounts receivable, less allowances: $477,000 - 2018; $389,000 - 2017	`AccountsReceivableNetCurrent`	$27.12M	USD	Point-in-time
Inventories	`InventoryNet`	$48.98M	USD	Point-in-time
Inventories	`InventoryNet`	$47.27M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.62M	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.40M	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$99.26M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$100.07M	USD	Point-in-time
Preferred Stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred Stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$70.11M	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$70.88M	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, 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`	$41.08M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.01M	USD	Point-in-time
Common Stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$28.87M	USD	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.96M	shares	Point-in-time
Common Stock, shares issued (in shares)	`CommonStockSharesIssued`	8.96M	shares	Point-in-time
Property, Plant and Equipment, Net	`PropertyPlantAndEquipmentNet`	$29.03M	USD	Point-in-time
Goodwill	`Goodwill`	$32.20M	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Goodwill	`Goodwill`	$32.23M	USD	Point-in-time
Treasury Stock, shares (in shares)	`TreasuryStockShares`	2.69M	shares	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$3.69M	USD	Point-in-time
Trademarks	`IndefiniteLivedTrademarks`	$3.69M	USD	Point-in-time
Patents and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$9.85M	USD	Point-in-time
Patents and other intangibles net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$9.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$2.01M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.90M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$47.36M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$47.64M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$176.46M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$175.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.71M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$4.38M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$2.39M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.61M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.66M	USD	Point-in-time
Contingent liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.07M	USD	Point-in-time
Contingent liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.07M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$6.55M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.55M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$31.31M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$27.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.72M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.72M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$358.98K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$358.98K	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$28.68M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$28.29M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$1.03M	USD	Point-in-time
Accrued postretirement benefits	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$1.02M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$26.42M	USD	Point-in-time
Accrued pension cost	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$26.34M	USD	Point-in-time
Preferred Stock, no par value: Authorized and unissued: 2,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, no par value: Authorized and unissued: 2,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 8,959,729 shares in 2018 and 8,957,974 shares in 2017	`CommonStockValue`	$29.50M	USD	Point-in-time
Common Stock, no par value, Authorized: 50,000,000 shares Issued: 8,959,729 shares in 2018 and 8,957,974 shares in 2017	`CommonStockValue`	$29.61M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2018 and 2017	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Treasury Stock: 2,694,729 shares in 2018 and 2017	`TreasuryStockValue`	$19.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$100.31M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$97.92M	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-943.19K	USD	Point-in-time
Foreign currency translation	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-334.26K	USD	Point-in-time
Unrealized gain on interest rate swap, net of tax	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$207.60K	USD	Point-in-time
Unrealized gain on interest rate swap, net of tax	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$41.76K	USD	Point-in-time
Unrecognized net pension and other postretirement benefit costs, net of taxes	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$20.26M	USD	Point-in-time
Unrecognized net pension and other postretirement benefit costs, net of taxes	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$20.49M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.39M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$90.42M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$86.93M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$175.77M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$176.46M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$59.44M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$36.04M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$27.36M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$44.72M	USD	1 Quarter
Gross margin	`GrossProfit`	$8.68M	USD	1 Quarter
Gross margin	`GrossProfit`	$14.72M	USD	1 Quarter
Engineering expenses	`EngineeringExpenses`	$1.39M	USD	1 Quarter
Engineering expenses	`EngineeringExpenses`	$630.41K	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.88M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.16M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$2.18M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$4.17M	USD	1 Quarter
Interest expense	`InterestExpense`	$21.02K	USD	1 Quarter
Interest expense	`InterestExpense`	$296.33K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$218.73K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$80.18K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.09M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.23M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$994.09K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$717.69K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.10M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.49	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 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$955.61K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.15M	USD	1 Quarter
Unrecognized pension and postretirement benefits	`UnrecognizedPensionAndPostretirementBenefits`	$191.34K	USD	1 Quarter
Unrecognized pension and postretirement benefits	`UnrecognizedPensionAndPostretirementBenefits`	$127.93K	USD	1 Quarter
(Gain)/loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-21.02K	USD	1 Quarter
(Gain)/loss on sale of equipment and other assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-33.10K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$9.14K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$6.38K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`ShareBasedCompensation`	$41.51K	USD	1 Quarter
Issuance of Common Stock for directors' fees	`ShareBasedCompensation`	$107.10K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.51M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.54M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.69M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$84.75K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$144.76K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$35.21K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$90.07K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$901.50K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.26M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.32M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.01M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$562.70K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$279.73K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$95.88K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.39M	USD	1 Quarter
Marketable securities	`PaymentsToAcquireMarketableSecurities`	$215.92K	USD	1 Quarter
Marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	-	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	$733.84K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$487.17K	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$605.65K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-703.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.34M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$357.14K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$4.39M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$689.13K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$688.34K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.05M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.08M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$212.90K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$406.59K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.91M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$855.92K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.28M	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`	$22.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.28M	USD	Point-in-time

Comprehensive Income 19 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.10M	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 foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$471.97K	USD	1 Quarter
Change in foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$608.93K	USD	1 Quarter
Change in pension and postretirement benefit costs, income taxes (expense)/benefit	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$-65.84K	USD	1 Quarter
Change in fair value of interest rate swap, income taxes expense/(benefit)	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	$-65.56K	USD	1 Quarter
Change in marketable securities, net of tax benefit of: 2018 - 0 and 2017 - ($792)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.45K	USD	1 Quarter
Change in marketable securities, net of tax benefit of: 2018 - 0 and 2017 - ($792)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	-	USD	1 Quarter
Change in pension and postretirement benefit costs, net of tax expense of: 2018 - $65,842 and 2017 - $112,864	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-222.72K	USD	1 Quarter
Change in pension and postretirement benefit costs, net of tax expense of: 2018 - $65,842 and 2017 - $112,864	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-206.68K	USD	1 Quarter
Change in fair value of interest rate swap, net of tax benefit of: 2018 - ($65,557)	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Change in fair value of interest rate swap, net of tax benefit of: 2018 - ($65,557)	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$165.84K	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$997.46K	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`	$4.10M	USD	1 Quarter

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