Business
EACO Corporation Reports All Time Record Quarter Net Sales
EACO Corporation Reports All Time Record Quarter Net Sales.
About this update from Eaco Corp.
[{"type":"text","content":"\n \n EACO Corporation (OTCQB:EACO) today reported the results for its quarter \n ended May 31, 2018, reporting an increase in the Company’s net income by \n 76% over the prior year quarter.\n \n \n Net sales, net income and earnings per share were as follows for the \n three months ended May 31, 2018 (dollars in thousands, except per share \n information):\n \n \n \n \n  \n \n \n \n \n \n \n  \n \n \n Three Months Ended\n \n \n  \n \n \n \n \n \n \n \n \n \n \n May 31,\n \n \n \n \n \n %\n \n \n \n \n \n \n \n \n \n 2018\n \n \n  \n \n \n 2017\n \n \n \n \n \n Change\n \n \n \n \n \n \n \n \n \n (unaudited)\n \n \n \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n Net sales\n \n \n \n \n $51,723\n \n \n \n \n $40,282\n \n \n \n \n 28.4%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n Net income\n \n \n \n \n $2,253\n \n \n \n \n $1,278\n \n \n \n \n 76.3%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n Basic and diluted earnings per common share\n \n \n \n \n $0.46\n \n \n \n \n $0.26\n \n \n \n \n 76.9%\n \n \n \n \n  \n \n \n \n \n The Company had 328 sales employees at May 31, 2018, an increase of 8 \n from the prior year quarter. The Company’s sales force is divided into \n Sales Focus Teams (SFTs). The Company had 96 SFTs as of May 31, 2018, an \n increase of 2 from the prior year quarter. Management anticipates \n continued growth in both our headcount and SFTs in fiscal year 2018 and \n through fiscal year 2019. The Company believes it continues to gain \n market share through its local presence business model, increasing net \n sales by 28.4% and bookings by 30% when comparing to the prior year \n quarter.\n \n \n Safe Harbor Statement under the Private Securities Litigation Reform \n Act of 1995:\n \n \n Any statements set forth in this news release that are not entirely \n historical and factual in nature, including without limitation, \n statements related to our headcount expansion and future growth are \n forward-looking statements. These forward-looking statements are based \n on our current expectations and are inherently subject to risks and \n uncertainties that could cause actual results to differ materially from \n those expressed in the forward-looking statements. The potential risks \n and uncertainties include, but are not ...