GUELPH, ONTARIO--(Marketwire - May 6, 2009) - Hammond Manufacturing Company Limited (TSX:HMM.A)
Three months ending: 4/3/09 3/28/08 Net Sales $ 19,760,000 $ 18,508,000 Earnings from operations $ 932,000 $ 382,000 Net Earnings $ 438,000 $ 2,034,000 Earnings per share $ 0.04 $ 0.18 Average Shares outstanding 11,334,300 11,334,300 Net Book value per share $ 2.40 $ 2.11
We are beginning to feel the impact of the slowing economy in the first quarter of 2009. Sales are down 4.3% from the fourth quarter of 2008 and we have taken short-term actions to adjust our capacity levels in line with the decline in sales.
We will continue to monitor the situation closely and manage for the long-term needs of our business.
Our continued success is due to the combined outputs of many individuals. We remain dedicated to our long-term plan of supplying high value products to a global market from a secure and profitable organization.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Hammond Manufacturing Company Limited
Robert F. Hammond
Chairman and CEO
(519) 822-7289 (FAX)