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A.T. Cross
Type
Private
Industry Accessory, Optical
Founded Providence, RI, United States
1846; 171 years ago (1846)
Founder Richard Cross
Headquarters 229 Promenade Street, Providence, RI, United States
Area served
United States
Europe
Key people
Russell A. Boss
(Chairman)
Robert Baird
(CEO)
Products Writing instruments, Stationery, Accessories
Revenue Increase US$ 158.3 million (2010)
Operating income
Increase US$ 9.32 million (2010)
Net income
Increase US$ 6.37 million (2010)
Total assets Increase US$ 144.63 million (2010)
Total equity Increase US$ 72.47 million (2010)
Number of employees
105 in Rhode Island; 830 worldwide
Website www.cross.com

A. T. Cross is a traded (NASDAQ: ATX) American company that competes in the fine writing instrument and journal businesses.

Cross manufactures and distributes fine writing instruments, journals and accessories worldwide.

The company was founded in 1846 in Providence, Rhode Island, and initially manufactured gold and silver casings for pencils, reflecting the Cross family's history as jewelers. The company was founded by Richard Cross who passed it on to his son Alonzo T. Cross. The company developed many innovative new writing instruments, including forerunners of the modern mechanical pencils, and the earliest stylographic pens.

The company moved its headquarters to a large facility (about 155,000 square feet) in Lincoln, Rhode Island in the 1960s.

After trading on the NASDAQ for five years (under the now-defunct symbol ATX), the company was sold to Clarion Capital Partners LLC in 2013. but retained its headquarters in Lincoln, Rhode Island.

In May 2016, with its headquarters in Lincoln becoming too large, the company accepted a set of tax credits and incentives in exchange for moving its headquarters to Providence, Rhode Island. The new headquarters, measuring about 4200 square feet, is located at The Foundry, the former Brown and Sharpe Manufacturing Company Complex at 299 Promenade Street in Providence. Most employees were moved to the new location by October 2016.

Cross has been an official supplier of pens to the White House since at least the 1970s. The pens used to sign legislation are often given out as souvenirs who attend the bill signings.

While an official Cross-White House program was begun under president Bill Clinton, it is known that the tradition goes back to at least the administration of Gerald Ford. All presidents from Ronald Reagan to Donald Trump signed legislation using Cross pens; it is unknown if earlier presidents did so. Obama, George W. Bush and Clinton favored the Cross Townsend model; Obama later switched to the Century II model in black lacquer, with black medium point refill.

The Trump administration continued the tradition by placing an initial order for 150 Cross Century II pens in January 2017.

Rhode Island Governor Gina Raimondo signs state laws using Cross pens.

Cross is well known for its writing instrument lines, beginning with mechanical pencils and produced the first stylographic (a technological forerunner of the modern ball point pen) pens in 1879. The current product line includes fountain pens, ballpoint pens, gel pens and mechanical pencils. The first Cross fountain pens were likely produced in 1930, but not again until the 1980s.

Cross writing instruments are generally sold in the mid-range of the market, rather than the extreme luxury end. However, they became a "must-have" accessory for the rising professional during the 1970s and 1980s.

Most Cross writing instruments are made in China, although some of the work for customized pens for presidents and politicians is done in New England.

The company also manufactures a range of wristwatches, cufflinks, desk accessories and leather goods such as pen cases, portfolios, and other items often targeted at the gift market.

In late 1997 Cross and IBM teamed up to introduce a digital writing pad, called the CrossPad, which was discontinued in 2004.

News

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2014-01-06 Downgrade DA Davidson Buy to Neutral
2013-11-11 Boost Price Target Roth Capital Neutral $21.50
2013-10-31 Boost Price Target DA Davidson Buy $25.00 to $29.00
1970-01-01
2014-01-06 Downgrade DA Davidson Buy to Neutral
2013-11-11 Boost Price Target Roth Capital Neutral $21.50
2013-10-31 Boost Price Target DA Davidson Buy $25.00 to $29.00
1970-01-01

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In ATX 0 funds of 2183 total. Show all

Fund name Ticker shares

Major Shareholders

Name Relationship Total Shares Holding stocks
Mellen Charles S President, Cross Accessory Div 1.56%  (177428) ATX /
PERREAULT STEPHEN A VP Global Operations 0.08%  (9626) ATX /
Dorman Robin Boss VP, Strategic Initiatives 0.03%  (3726) ATX /

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