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Stock impact report

The Eastern Company Reports First Quarter 2020 Results; Net Sales Increase 7% to $65.3 Million; First Quarter 2020 Earnings Grow 84% to $0.46 Per Share

Eastern Company (The) (EML) 
US:NASDAQ Investor Relations: easterncompany.com
Company Research Source: Business Wire
  NAUGATUCK, Conn.--(BUSINESS WIRE)--The Eastern Company (“Eastern”) (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving niche industrial markets, today announced the results of operations for the first quarter ended March 28, 2020 and its response to the current COVID-19 pandemic.President and CEO August Vlak commented, “Sales in the first quarter of 2020 increased 7% compared to the first quarter of 2019, driven by the acquisition of Big 3 Precision in August 2019. The acquisition was an important step toward the achievement of our long-term vision of building a larger and stronger company with a more significant presence with key customers. Sales growth due to the inclusion of Big 3 Precision was partly offset by a decline in sales across nearly all businesses during the second half of March, which was precipitated by customer shutdowns and temporary closures of four of our facilities in response to the COVID-19 pandemic, as well as considerable weakn Show less Read more
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