Global Fastener News

FIN Store
End of 2009 Stock Report: H. PAULIN

END of 2009 RESULTS
H. Paulin reported sales decreased 10% to CAD 123.1 million during 2009, while operating income rose 20% to CAD 3.4 million and net income rose to CAD 2.4 million compared to a CAD 700,000 loss the previous year. 

Fourth quarter sales slipped 3% to CAD 29.42 million, while Q4 income declined to a loss of CAD 2.6 million, compared to a CAD 535,000 loss during the final quarter of 2008. 

Paulin reported net sales dropped 23% to CAD 26.22 million (US$22.3 million) in the first quarter of 2009, resulting in a net loss of CAD 192,000 compared with a $6,000 profit during the opening quarter of 2008. The board of directors did not declare a dividend for the period. 

In 2008 Paulin appointed Murray Mateyk, 48, to the newly created position of CFO. Mateyk, a chartered accountant, reports to company president Richard Paulin. 

2008
Despite the automotive downturn, H. Paulin reported sales rose 2% to CAD 138.2 million during 2008, though the Canadian fastener manufacturer tallied a yearly net loss of CAD 729,000 compared with a CAD 1.8 million profit for 2007. 

Paulin recorded charges of $3.1 million in the fourth quarter “due to the significant downturn in the automotive sector.”

Fourth quarter sales slipped 3% to CAD 29.42 million, while Q4 income declined to a loss of CAD 2.6 million, compared to a CAD 535,000 loss during the final quarter of 2007. 

In 2008 Paulin appointed Murray Mateyk, 48, to the newly created position of CFO. Mateyk, a chartered accountant, reports to company president Richard Paulin. 

HISTORY
Founded in 1920, Paulin supplies 41,000 standard fasteners and manufactures custom cold-headed products, metal stampings, screw machine products, self-locking fasteners and custom parts for the automotive, agricultural, electronics and appliance industries. Paulin also produces stainless and nonferrous fasteners. 

Manufacturing processes include cold heading, nut forming, metal stamping, screw machine, adhesive coating and packaging. 

Distribution facilities are located in Vancouver, Edmonton, Winnipeg, Toronto, Montreal, Moncton and Cleveland, Ohio. 

Divisions include Jeyco Machine Products, Precision Fasteners, Long-Lok Canada, Capital Metal Industries, Dominion Fittings, Paulin Industries and Pro-Tip. 

Trademarks include Paulin, Papco, Easy-Spot, Work Savers, Loxxon, Pie-a-Pae, Uni-Bolt, Uni-Nut, Pro-Tip, Contractor Quality and Dominion. 

Corporate Office: 55 Milne Ave., Toronto, Ontario M1L 4N3 Canada. 
Tel: 416 694-3351 Fax 416 694-1869
Web: hpaulin.com
CEO: Richard Paulin
Employees: Over 600
©2010 GlobalFastenerNews.com