Eastern Co FY2021 sales +25% to $246.5M; EPS $2.58; CFO transition announced

EASTERN CO

Full-year net sales from continuing operations $246.5M, up 25% YoY; backlog grew to $82.8M from $64.7M.
Diluted EPS from continuing operations $2.58, up 47% YoY; adjusted EPS $2.44, up 17%.
Gross margin 23% (vs 24% in 2020); unrecovered raw material cost increases ~$5.5M pre-tax ($0.75/share after-tax).
CFO John Sullivan III retiring; Peter O'Hara named as successor.

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