The Eastern Company Reports Net Sales of $60.9 Million and Earnings of $0.25 Per Diluted Share for the First Quarter of 2019 - Seite 2

Mr. Vlak stated that “we generated $1.5 million in cash from operations in the first quarter of 2019, an increase of $1.3 million compared the same period in 2018. The increase in cash from operations was primarily the result of our work to reduce inventories."

Mr. Vlak continued that “our backlog is healthy and we expect sales to remain strong for the rest of 2019, due to continued demand for our products in Class 8 trucks, truck accessories, and other core markets, as well as a number of new product launches. We continue to look for opportunities to expand our portfolio through acquisitions. We are confident that our three-part strategy of optimizing our portfolio of businesses, improving execution and building our balance sheet will generate long-term results for our shareholders.”

The Eastern Company will host a conference call to discuss its results for the first quarter of 2019 and other matters on Tuesday May 7, 2019 at 9:00 a.m. Eastern Time. Participants can access the conference call by phone at [phone] (toll free in US & Canada) or [phone] (International). Participants can also join via the web at https://www.webcaster4.com/Webcast/Page/1757/30444.

About The Eastern Company
The Eastern Company is 160-year old manufacturer of industrial hardware, security products and metal castings. It operates 16 locations in the United States, Canada, Mexico, Taiwan and China.

Safe Harbor for Forward-Looking Statements
Statements in this document about our future expectations, beliefs, goals, plans or prospects constitute forward- looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the rules, regulations and releases of the Securities and Exchange Commission. Any statements that are not statements of historical fact, including statements containing the words “believes,” “intends”, “continues,” “reflects,” “plans,” “anticipates,” “expects,” and similar expressions, should also be considered to be forward-looking statements. Readers should not place undue reliance on these forward-looking statements, which are based upon management’s current beliefs and expectations. These forward-looking statements are subject to risks and uncertainties, and actual results might differ materially from those discussed in, or implied by, the forward-looking statements. Among the risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements include, but are not limited to changing customer preferences, lack of success of new products, loss of customers and increased prices for raw materials. There are important, additional factors that could cause actual results or events to differ materially from those indicated by such forward looking statements, including those set forth in our reports and filings with the Securities and Exchange Commission. We undertake no obligation to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise.