EACO Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2017
January 04, 2018 at 04:01 pm EST
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EACO Corporation reported unaudited consolidated earnings results for the first quarter ended November 30, 2017. For the quarter, the company reported, revenues of $42,171,000, income from operations of $1,839,000, income before income taxes of $1,941,000, net income attributable to common shareholders of $1,176,000, compared to revenues of $37,207,000, income from operations of $1,169,000, income before income taxes of $1,063,000, net income attributable to common shareholders of $642,000, for the same period a year ago. Basic and diluted earnings per share were $0.24 against $0.13 a year ago. Net cash from operating activities was $113,000 against net cash used in operating activities of $3,925,000 a year ago. Purchase of property, equipment and leasehold improvements was $849,000 against $585,000 a year ago.
EACO Corporation is a holding company, primarily comprised of its subsidiary, Bisco Industries, Inc. (Bisco) and Bisco's Canadian subsidiary, Bisco Industries Limited. Bisco is a distributor of electronic components and fasteners. Bisco supplies parts used in the manufacture of products in a broad range of industries, including the aerospace, circuit board, communication, computer, fabrication, instrumentation, industrial equipment and marine industries. Its divisions include Bisco Industries, National-Precision and Fast-Cor. Bisco's products include electronic components, such as spacers and standoffs, card guides and ejectors, component holders and fuses, circuit board connectors, and cable components, as well as a variety of fasteners and hardware. Bisco provides customized services and solutions for a wide range of production needs, including special packaging, bin stocking, kitting and assembly, bar coding, electronic requisitioning, and integrated supply programs, among others.