-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K+NYCg9Z+/LnUfK0CK873Uq7/g9UxHkwmhlmIjw3Jb5lpoR1//5NJ+rFBgcSq85t 4QM4xQgUfBG4Y3URIr4Dig== 0001137403-05-000002.txt : 20050125 0001137403-05-000002.hdr.sgml : 20050125 20050125122335 ACCESSION NUMBER: 0001137403-05-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050124 ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Other Events FILED AS OF DATE: 20050125 DATE AS OF CHANGE: 20050125 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SENTRY TECHNOLOGY CORP CENTRAL INDEX KEY: 0001030708 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 113349733 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12727 FILM NUMBER: 05546503 BUSINESS ADDRESS: STREET 1: 350 WIRELESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 5142322100 MAIL ADDRESS: STREET 1: 350 WIRELESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 8-K 1 doc1.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 January 24, 2005 Date of Report (Date of earliest reported event) Sentry Technology Corporation (Exact name of registrant as specified in its chapter) Delaware 1-12727 96-11-3349733 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification number) incorporation) 1881 Lakeland Avenue, Ronkonkoma, New York 11779 (Address of principal executive offices) (Zip Code) 631-232-2100 Registrant's telephone number, including area code None (Former name or former address, if changed since last report ) INFORMATION TO BE INCLUDED IN THE REPORT Item 1.02 Termination of a Material Definitive Agreement (a)(1) Lowe's Home Centers, the Company's largest customer, terminated its CCTV equipment maintenance agreement with the Company on January 21, 2005. (a)(2) The Lowe's maintenance agreement was approximately $850,000 of Sentry's total revenue in 2004. (a)(3) Lowe's Home Centers has selected one of the Company's competitors as the single vendor to service CCTV equipment installed in its stores. Sentry expects to continue as a Lowe's supplier, selling its SentryVision SmartTrack traveling camera system. (a)(4) No material early termination penalties were incurred by the registrant. A copy of the Company's News Release issued on January 24, 2005 is filed as an exhibit to this report and is incorporated in this report by reference. Item 7. Financial Statements and Exhibits. Exhibit 99.1 Company News Release dated January 24, 2005. Item 8.01 Other Items. On January 24, 2005, the Company issued a News release announcing a change in the name of three of its wholly owned subsidiaries. A copy of the News release is attached hereto as Exhibit 99.1. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Sentry Technology Corporation Date: 1/24/05 /s/ Peter J. Mundy - -------------- ----------------------------------- Peter J. Mundy, VP and CFO EXHIBIT INDEX 99.1 Company News Release dated January 24, 2005. [GRAPHIC OMITED] [GRAPHIC OMITED] News Release FOR IMMEDIATE RELEASE CONTACT: Peter Murdoch - ----------------------- President & CEO (631) 739-2000 ID SYSTEMS & KNOGO NORTH AMERICA CHANGE NAMES TO SENTRY TECHNOLOGY RONKONKOMA, January 24, 2005 -- Sentry Technology Corporation (OTC Bulletin Board: SKVY) announced today the change in the name of three of its wholly owned subsidiaries, ID Systems USA Inc., ID Security Systems Canada Inc. and Knogo North America Inc., to Sentry Technology USA Inc., Sentry Technology Canada Inc. and Sentry Technology Corporation, respectively. As part of an ongoing effort to consolidate operations and to better focus market presence, all ID Systems, Knogo and Sentry product lines will be sold under the Sentry Technology name and corporate logo. "Following the acquisition of the ID Systems group by Sentry Technology Corporation in 2004, sales representatives have been trained on the product lines of all companies," said Peter L. Murdoch, President and CEO of Sentry Technology Corporation. "We have chosen Sentry Technology as the single trade name to grow the combined businesses and believe we can build better market recognition by concentrating on a single brand strategy." In other business, Lowe's Home Centers, Sentry's largest customer, has selected one of the Company's competitors as the single vendor to service CCTV equipment installed in its stores. Sentry expects to continue as a Lowe's supplier, selling its SentryVision SmartTrack traveling camera system. The Lowe's maintenance agreement was approximately $850,000 of Sentry's total revenue in 2004. Sentry Technology Corporation designs, manufactures, sells and installs a complete line of Radio Frequency (RF) and Electro-Magnetic (EM) EAS systems and Closed Circuit Television (CCTV) solutions. The CCTV product line features the proprietary SentryVision SmartTrack patented traveling Surveillance System. The Company's products are used by retailers to deter shoplifting and internal theft and by industrial and institutional customers to protect assets and people. The Company's acquisition of ID Systems expands the Company's product offering to include proximity Access Control and Radio Frequency Identification (RFID) solutions. For further information, please visit our website at www.sentrytechnology.com. # # # This press release may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the Company's Securities and Exchange Commission filings. -----END PRIVACY-ENHANCED MESSAGE-----