Eternal Image, Inc., upon filing their 10-K report with the Security and Exchange Commission (SEC), has announced the results of their 2009 filing. Overall sales increased 32% when compared to 2008. For the first time in the company’s brief history, Eternal Image, established in 2006, posted a positive gross profit of more than $100,000 for the year. Eternal Image is a marketer of licensed brand image funerary products, including caskets and urns that are endorsed by such companies as Major League Baseball and the Vatican Observatory Foundation, to name but a couple.
Eternal Image Chief Executive Officer, Clint Mytych, was quoted in the press release as saying, “The 2009 10-K is further evidence that we are moving in the right direction,” said Clint Mytych, CEO of Eternal Image, Inc. “And with the announcements earlier this year of our new globally exclusive Vatican Observatory agreement, our new industry partnership, and our forthcoming new division, 2010 is on track to be an even better year of performance and growth for us.”
The “new industry partnership” that Mr. Mytych is referencing is with Matthews International. Matthews is a designer, manufacturer and marketer of memorialization products and brand solutions. Matthews trades on the NASDAQ market under the ticker “MATW”. Eternal Image and Matthews entered into a binding letter of understanding (LOU) on February 17, 2010. At this point, Matthews has not permitted the information to be issued in a press release. The information is available through a Form 8-K filed by Eternal Image with the SEC in February 2010.