AP NEWS

EACO Corporation Reports Record 1st Quarter Net Sales and Record 1st Quarter Net Income

January 7, 2019

ANAHEIM, Calif.--(BUSINESS WIRE)--Jan 7, 2019--EACO Corporation (OTCQB:EACO) today reported the results for its quarter ended November 30, 2018.

Net sales, net income and earnings per share were as follows for the three months ended November 30, 2018 (dollars in thousands, except per share information):

The Company had 336 sales employees at November 30, 2018, an increase of 8 from the prior year quarter. The Company’s sales force is divided into Sales Focus Teams (SFTs). The Company had 96 SFTs as of November 30, 2018 the same number from the prior year quarter. Management anticipates continued growth in both our headcount and SFTs in fiscal year 2019. The Company believes it continues to gain market share through its local presence business model, increasing net sales by 20% and bookings by 18% when compared to the prior year quarter.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation, statements related to our headcount expansion, market share, and future growth are forward-looking statements. These forward-looking statements are based on our current expectations and are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The potential risks and uncertainties include, but are not limited to, our ability to hire and retain additional qualified employees, our ability to open additional sales offices, and to gain market acceptance for our products, the pricing and availability of our products, the success of our sales and marketing programs, and the impact of products offered by our competitors from time to time. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in EACO’s most recent Form 10-K and all subsequent Form 10-Q reports filed by us with the SEC. The forward-looking statements included in this release speak only as of the date hereof, and EACO does not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190107005957/en/

CONTACT: Marta Arciniega

EACO Corporation

(714) 876-2490

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY

SOURCE: EACO Corporation

Copyright Business Wire 2019.

PUB: 01/07/2019 04:01 PM/DISC: 01/07/2019 04:01 PM

http://www.businesswire.com/news/home/20190107005957/en

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