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EACO Corporation, through its wholly owned subsidiary, Bisco Industries, Inc., is a prominent distributor and seller of electronic components and fasteners, primarily operating in the United States and Canada. The company offers a wide range of electronic components such as spacers, standoffs, card guides, ejectors, component holders, fuses, circuit board connectors, and cable components. Additionally, EACO specializes in various fasteners and hardware products.
Beyond mere distribution, EACO provides customized services and solutions tailored to meet diverse production needs. These services include special packaging, bin stocking, kitting and assembly, barcoding, electronic requisitioning, and integrated supply programs. This comprehensive suite of services ensures that clients receive not only the parts they need but also efficient and effective supply chain solutions.
Serving a variety of industries, including aerospace, circuit board manufacturing, communication, computer fabrication, instrumentation, industrial equipment, and marine sectors, EACO Corporation supplies essential parts used in the manufacturing of diverse products. Their primary customer base comprises original equipment manufacturers (OEMs), who benefit from EACO's extensive network of sales representatives and distribution centers.
Recent achievements and ongoing projects at EACO demonstrate their commitment to innovation and customer satisfaction. The company's financial condition remains robust, supported by strategic partnerships and a steady flow of new and repeat orders from its diverse clientele. EACO's dedicated team continues to explore new opportunities and expand its reach within the market, ensuring sustained growth and relevance in the ever-evolving electronics and fasteners industry.
EACO reported strong financial results for the first quarter ended November 30, 2024. The company achieved record net sales of $93.92 million, representing a 17% increase from $80.26 million in the same quarter last year. Net income surged by 287.2% to $6.89 million, compared to $1.78 million in Q1 2023.
The significant increase in net income reflects both the strong sales growth and the absence of a $3.9 million impairment expense recorded in the previous year's quarter. Earnings per share rose to $1.41, up 291.7% from $0.36 in the prior year period.
The company expanded its workforce to 426 sales employees, a 3% increase year-over-year, and grew its Sales Focus Teams (SFTs) to 112, adding 3 new teams. Management expects continued growth in both headcount and SFTs throughout fiscal year 2025, attributing market share gains to their local presence business model.
EACO reported financial results for fiscal year 2024, showing mixed performance. Q4 demonstrated strong growth with net sales reaching $96,520,000 (up 12.4%) and net income of $6,546,000 (up 8.1%). However, while annual net sales increased 11.5% to $356,231,000, annual net income decreased 29.2% to $15,007,000. The company expanded its workforce to 427 sales employees (up 8%) and increased Sales Focus Teams to 111. The annual performance was impacted by $7.6 million in employee class action settlement expenses and a $3.9 million lease termination impairment loss.
EACO (OTCMKTS:EACO) reported its financial results for the quarter ended May 31, 2024, showcasing a 19.8% increase in net sales to $96.1 million compared to the same period in 2023. However, net income dropped significantly by 77.7% to $1.18 million, and earnings per share fell by 78% to $0.24. The company expanded its sales team by 8.5% to 413 employees and now has 110 sales focus teams, an increase of two teams from the previous year. EACO's management anticipates further growth in headcount and sales teams for the rest of 2024, attributing their market share gains to their local presence business model.
EACO Corporation (OTCMKTS:EACO) announced its financial results for the quarter ending February 28, 2023. The company reported net sales of $76,925,000, a 15.5% increase from $66,587,000 in the same quarter of 2022. Net income rose to $5,100,000, reflecting a 49.7% growth compared to $3,407,000 last year. Earnings per share saw a boost of 50%, reaching $1.05, up from $0.70. The company increased its sales staff by 9.5% to 370 employees and anticipates ongoing growth in both headcount and sales focus teams (SFTs), having added three more SFTs to a total of 105.
EACO Corporation (OTC Pink:EACO) reported its Q4 results for the period ending November 30, 2022. Net sales increased by 19.6% to $76,319 thousand compared to $63,822 thousand in 2021. However, net income dropped 30.6% to $4,711 thousand, with earnings per share declining 30.2% to $0.97.
Despite the decline in profitability, the company expanded its sales workforce by 12%, now employing 366 individuals, maintaining 101 sales focus teams. Management expects to grow both headcount and teams in fiscal year 2023.
EACO Corporation (OTC Pink:EACO) announced substantial growth in its financial performance for the year ended August 31, 2022. The company reported net sales of $292,562,000, a 22.9% increase from the previous year, alongside a significant rise in net income to $21,308,000, marking a 154.1% growth. Earnings per share also surged by 155.6% to $4.37. Despite a modest increase in sales staff to 345, EACO anticipates further growth in fiscal year 2023, aiming to enhance its market presence.
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