Hammond Manufacturing Ltd. reports revenue growth in Q4 2021 earnings
On March 7, 2022, Hammond Manufacturing Ltd. (Hammond) released its Q4 2021 earnings where the company saw its revenue growth in the year. In full-year 2021, the company earned $190.1 million, which is an increase from last year's company revenue of $148.2 million. In the fourth quarter of the year, the company earned $55.3 million, which is an increase from last year of $38.8 million. The economy opening up helped Hammond increase its revenue as other companies during the year can operate again, growing the need for electrical equipment for those companies to go back into full operation again.
COVID|New Activity|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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