Eastern Co. sees uptick in 3Q earnings


NAUGATUCK — The Eastern Co., a Naugatuck-based manufacturer of industrial hardware, security products and metal castings, last week reported slightly higher earnings for the third quarter but lower profits for the first nine months of the year.

Net income for the quarter was $2.5 million, or 41 cents per diluted share, up from $2.4 million, or 39 cents per diluted share, a year ago. The uptick was due to increased sales in Eastern’s industrial hardware segment, the company said.

For the first nine months ended Oct. 3, Eastern posted $4 million, or 64 cents per diluted share, in net income, down from $5.6 million, or 90 cents per diluted share, a year earlier, in part due to expenses related to a proxy contest held earlier this year.