The Eastern pany(EML) - 2024 Q2 - Quarterly Results

EX-99.1 2 eml_ex991.htm EX-99.1 EXHIBIT 99.1 THE EASTERN COMPANY REPORTS SECOND QUARTER 2024 RESULTS Second Quarter and Six Months 2024 Financial Results FOR IMMEDIATE RELEASE · Net income for Q2 2024 rises to $3.5 million, or$0.56 per diluted share, compared to net income of $1.4 million, or$0.22 per diluted share, for Q2 2023. · Gross margin increases to 25% in Q2 2024 compared to 22% in Q1 2023. · Backlog as of June 29, 2024 rises 43% to $107.3 million from$75.3 million as of July 1, 2023. SHELTON, CT ...