Business
EACO Corporation Reports Q2 Results
EACO Corporation Reports Q2 Results.
About this update from Eaco Corp.
[{"type":"text","content":"\n \n EACO Corporation (OTCQB:EACO) today reported the results for its quarter \n ended February 29, 2016.\n \n \n Net sales, net income and earnings per share were as follows for the \n three months ended February 29, 2016 (dollars in thousands, except per \n share information):\n \n \n \n \n \n \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 February 29, 2016\n \n \n  \n \n \n  \n \n \n February 28, 2015\n \n \n \n \n \n \n Change\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 \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 \n 34,589\n \n \n \n \n \n \n $\n \n \n 34,427\n \n \n \n \n \n \n 0.5\n \n \n %\n \n \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 \n 731\n \n \n \n \n \n \n $\n \n \n 1,119\n \n \n \n \n \n \n (34.7\n \n \n )%\n \n \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 \n 0.15\n \n \n \n \n \n \n $\n \n \n 0.23\n \n \n \n \n \n \n (34.8\n \n \n )%\n \n \n \n \n We had 319 sales employees on February 29, 2016. Our 319 sales employees \n is an increase of 2.2% from the 312 as of February 28, 2015. The sales \n force is divided into Sales focus teams (SFT’s) and we had 95 SFT’s as \n of February 29, 2016 and 91 SFT’s on February 28, 2015. We anticipate \n continued growth in both our headcount and SFT’s in fiscal year 2016. We \n estimate that the annual North American market for our product is \n approximately $7.2 billion and our current market share is 1.9%.\n \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n \n \n \n \n \n EACO Corporation and Subsidiaries\n \n \n Condensed Consolidated Balance Sheets\n \n \n (in thousands, except share information)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n \n \n \n \n February 29, \n\n \n 2016\n \n \n \n \n \n \n \n August 31, \n\n \n 2015\n \n \n \n \n \n \n \n \n \n (unaudited)\n \n \n \n \n \n \n \n \n \n \n ASSETS\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Current Assets:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cash and cash equivalents\n \n \n $\n \n \n 4,374\n \n \n \n \n $\n \n \n 5,269\n \n \n \n \n Restricted cash, current\n \n ...