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":"\n \n EACO Corporation (OTCQB:EACO) today reported the results for its year \n ended August 31, 2018.\n \n \n Net sales, net income and earnings per share were as follows for the \n three months and year ended August 31, 2018 (dollars in thousands, \n except per share information):\n \n \n \n \n \n \n  \n \n \n Three Months Ended August 31,\n \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 \n (unaudited)\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 Net sales\n \n \n \n \n $54,349\n \n \n \n \n $42,181\n \n \n \n \n 28.8%\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 $2,181\n \n \n \n \n $1,364\n \n \n \n \n 59.9%\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 $0.44\n \n \n \n \n $0.28\n \n \n \n \n 57.1%\n \n \n \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n \n \n \n \n Year Ended August 31,\n \n \n \n \n \n %\n \n \n \n \n \n \n \n \n \n 2018\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 \n \n \n  \n \n \n \n \n Net sales\n \n \n \n \n $193,284\n \n \n \n \n $156,954\n \n \n \n \n 23.1%\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 $6,949\n \n \n \n \n $4,051\n \n \n \n \n 71.5%\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 $1.41\n \n \n \n \n $0.82\n \n \n \n \n 71.9%\n \n \n \n \n  \n \n \n \n \n \n * Derived from the Company’s audited financial statements included \n in its Form 10-K for the year ended August 31, 2017 filed with the \n U.S. Securities and Exchange Commission on November 22, 2017.\n \n \n \n \n \n The Company had 336 sales employees at August 31, 2018, an increase of \n 20 from the prior year quarter. The Company’s sales force is divided \n into sales focus teams (SFTs). The Company had 96 SFTs as of August 31, \n 2018, an increase of 2 from the prior year quarter. Management \n anticipates continued growth in both our headcount and SFTs in fiscal \n year 2019. The Company beli...