Business
Eaco Corporation Reports Record Annual Net Sales, Annual Net Income, Quarterly Net Sales and 4th Quarter Net Income
Eaco Corporation Reports Record Annual Net Sales, Annual Net Income, Quarterly Net Sales and 4th Quarter Net Income.
About this update from Eaco Corp.
[{"type":"text","content":"\nEACO Corporation (OTCQB:EACO) today reported the results for its year ended August 31, 2019.\n\n\nNet sales, net income and earnings per share were as follows for the three months and year ended August 31, 2019 (dollars in thousands, except per share information):\n\n\n\n\n \n\n\n\nThree Months Ended August 31,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(unaudited) \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 \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n$60,056\n\n\n\n \n\n\n\n$54,349\n\n\n\n \n\n\n\n10.5%\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\n\n\n\n\nNet income\n\n\n\n$2,602\n\n\n\n \n\n\n\n$2,181\n\n\n\n \n\n\n\n19.3%\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\nBasic and diluted earnings per common share\n\n\n\n$0.53\n\n\n\n \n\n\n\n$0.44\n\n\n\n \n\n\n\n20.5%\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\n\n \n\n\n\nYear Ended August 31,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018*\n\n\n\n \n\n\n\nChange\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\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\nNet sales\n\n\n\n$221,241\n\n\n\n \n\n\n\n$193,284\n\n\n\n \n\n\n\n14.5%\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\n\n\n\n\nNet income\n\n\n\n$9,432\n\n\n\n \n\n\n\n$6,949\n\n\n\n \n\n\n\n35.7%\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\n\n\n\n\nBasic and diluted earnings per common share\n\n\n\n$1.92\n\n\n\n \n\n\n\n$1.41\n\n\n\n \n\n\n\n36.2%\n\n\n\n\n\n* Derived from the Company’s audited financial statements included in its Form 10-K for the year ended August 31, 2018 filed with the U.S. Securities and Exchange Commission on November 28, 2018.\n\n\nThe Company had 347 sales employees at August 31, 2019, an increase of 11 or 3%, from the prior year quarter. The Company’s sales force is divided into sale...