GUELPH, ONTARIO–(Marketwired – March 7, 2014) – Hammond Manufacturing Company Limited (TSX:HMM.A) –
| Year ending: | Three months ending: | ||||||||
| 12/31/13 | 12/31/12 | 12/31/13 | 12/31/12 | ||||||
| Net Product Sales | $ | 92,314,000 | $ | 92,425,000 | $ | 22,969,000 | $ | 21,556,000 | |
| Income from operating activities(*) | 3,757,000 | 2,792,000 | $ | 857,000 | $ | 407,000 | |||
| Net Income for Period | 2,258,000 | 1,662,000 | $ | 755,000 | $ | 264,000 | |||
| Earnings per share | |||||||||
| Basic | $ | 0.20 | $ | 0.15 | $ | 0.07 | $ | 0.02 | |
| Diluted | $ | 0.20 | $ | 0.15 | $ | 0.07 | $ | 0.02 | |
(*) Earnings from operations is before interest, foreign exchange, equity interest, other income and taxes
NOTE: The interim financial results have not been reviewed by an auditor.
To all employees and shareholders:
Net product sales for 2013 were flat over 2012 despite a positive impact from foreign exchange. Net income of $2,258,000 for 2013 benefited from the positive impact of foreign exchange and improved shop efficiencies.
Hammond Manufacturing Company Limited manufactures a broad range of products for the electronic and electrical products industry, including metallic and non-metallic enclosures, racks, small cases, outlet strips, surge suppressors and electronic transformers.
Robert F. Hammond
Chairman and CEO
(519) 822-2960
(519) 822-7289 (FAX)
ir@hammfg.com
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