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| Press Release - April 22, 2005 |
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Hammond Manufacturing Company Limited,
394 Edinburgh Road North,
GUELPH , Ontario N1H 1E5.
Tel # ( 519 ) 822 - 2960
Fax # ( 519 ) 822 - 8987 |
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| TSE: HMM.SV.A |
Financial Results for the Year
and First Quarter Ended April 1, 2005. |
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Apr 1/05 |
Apr 2/04 |
Change |
| Net Sales |
16,480,000 |
15,403,000 |
+7.0% |
| Earnings from operations |
327,000 |
632,000 |
-48.3% |
| Net earnings |
51,000 |
192,000 |
-73.4% |
| Earnings per share |
$0.00 |
$0.02 |
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| Shares outstanding |
11,307,300 |
11,302,300 |
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| Net book value per share |
$1.85 |
$1.84 |
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First quarter net sales reported in Canadian dollars are up
7.0% compared to the first quarter of 2004, up 11.8% when compared in underlying source
currencies.
Rising material and freight costs, as well as continuing currency impacts, have tightened margins.
Volume growth continues to offset these factors, and the Company continues to focus on expanding
market share.
The balance sheet remains strong, net book value per share ending the quarter at $1.85.
Hammond Manufacturing Company Limited manufactures a broad range of products for the
electronic and electrical products industry, including metallic and non-metallic enclosures, racks,
small cases, outlet strips, surge suppressors and electronic transformers.
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| Information Contacts:
Robert F. Hammond, Chairman and CEO
Tel: (519) 822.2960
Fax: (519) 822.8987
Email: ir@hammfg.com |
| Guelph, Ontario, April 22, 2005 |
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