Hammond Manufacturing Company Ltd T.HMM.A

Margins are up

[Marley66]

I did not expect to see higher margin in Q1 as the average Canadian dollar was a bit higher than Q4. 

And yes the Canadian $ finished lower than de US $ as of the 31 first of march.

Earnings are significantly higher than last year! As a Mather of fact it's 45.8 cents instead of 37 cents.

IT look like Q2 should have higher earnings than Q1 because of the lower Canadian $ .

things look good!

a happy shareholder

[HyperCube]

Where did you see earnings of 45.8 cents? I see earnings of 39 cents. 

[HyperCube]

Oh! I think I see what you mean. You are talking about the "Total comprehensive income", not the "Net income".

[Marley66]

Yes , total comprehensive income is more reflective of the real earnings power!

[FormerHedgie]

If you read the SEDAR filing, it says that they were able to pass through a price increase that was accepted by the market and they mention that is directly helped gross margins. I don't think FX rates are necessarily the primary driver of the increases. There is a two way impact of FX.  It makes reveues (on a converted to CDN$ basis) apprear higher but many of their costs, even if the