California
|
0-16438
|
95-4134955
|
||
(State or Other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
24007 Ventura Boulevard, Suite 200
Calabasas, California
|
91302
|
|
(Address of Principal Executive Offices)
|
Zip Code
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
(d)
|
Exhibits
|
Press release dated June 11, 2013
|
Press release dated June 4, 2013
|
Date: June 11, 2013
|
National Technical Systems, Inc.
|
By:
|
/s/ Michael El-Hillow
|
||
Name: Michael El-Hillow
|
|||
Title: Sr. Vice President, CFO
|
![]() |
www.nts.com
|
Contact: Allen & Caron Inc
|
National Technical Systems
|
Jill Bertotti (investors)
|
Michael El-Hillow, CFO
|
jill@allencaron.com
|
mike.el-hillow@nts.com
|
Len Hall (media)
|
Aaron Cohen, Vice Chairman
|
len@allencaron.com
|
aaron.cohen@nts.com
|
(949) 474-4300
|
(818) 591-0776
|
National Technical Systems, Inc. Corporate Headquarters
|
|
|
|
24007 Ventura Boulevard, Suite 200, Calabasas, CA 91302
|
Main: 818-591-0776 Fax: 818-591-0899
|
|
Three Months Ended
|
|||||||||||
|
April 30,
|
January 31,
|
April 30,
|
|||||||||
|
2013
|
2013
|
2012
|
|||||||||
|
||||||||||||
Net revenues
|
$
|
45,017,000
|
$
|
43,844,000
|
$
|
43,453,000
|
||||||
Cost of sales
|
31,487,000
|
33,244,000
|
32,132,000
|
|||||||||
Gross profit
|
13,530,000
|
10,600,000
|
11,321,000
|
|||||||||
|
||||||||||||
Selling, general and administrative expense
|
10,039,000
|
9,406,000
|
8,412,000
|
|||||||||
Equity loss from non-consolidated subsidiary
|
32,000
|
20,000
|
13,000
|
|||||||||
Operating income
|
3,459,000
|
1,174,000
|
2,896,000
|
|||||||||
Other income (expense):
|
||||||||||||
Interest expense, net
|
(791,000
|
)
|
(826,000
|
)
|
(877,000
|
)
|
||||||
Other income, net
|
14,000
|
200,000
|
28,000
|
|||||||||
Total other income (expense), net
|
(777,000
|
)
|
(626,000
|
)
|
(849,000
|
)
|
||||||
|
||||||||||||
Income before income taxes and noncontrolling interests
|
2,682,000
|
548,000
|
2,047,000
|
|||||||||
Income taxes
|
1,066,000
|
678,000
|
833,000
|
|||||||||
|
||||||||||||
Net income (loss) from continuing operations
|
1,616,000
|
(130,000
|
)
|
1,214,000
|
||||||||
Income from discontinued operations, net of tax
|
-
|
-
|
8,000
|
|||||||||
Net income (loss)
|
1,616,000
|
(130,000
|
)
|
1,222,000
|
||||||||
|
||||||||||||
Net income attributable to noncontrolling interests
|
(185,000
|
)
|
(168,000
|
)
|
(268,000
|
)
|
||||||
|
||||||||||||
Net income (loss) attributable to NTS
|
$
|
1,431,000
|
$
|
(298,000
|
)
|
$
|
954,000
|
|||||
|
||||||||||||
Net income (loss) from continuing operations attributable to NTS
|
$
|
1,431,000
|
$
|
(298,000
|
)
|
$
|
946,000
|
|||||
Net income from discontinued operations attributable to NTS
|
$
|
-
|
$
|
-
|
$
|
8,000
|
||||||
|
||||||||||||
Basic earnings attributable to NTS per common share:
|
||||||||||||
Net income (loss) from continuing operations
|
$
|
0.12
|
$
|
(0.03
|
)
|
$
|
0.08
|
|||||
Net income (loss) from discontinued operations
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Net income (loss) attributable to NTS
|
$
|
0.12
|
$
|
(0.03
|
)
|
$
|
0.08
|
|||||
|
||||||||||||
Diluted earnings attributable to NTS per common share:
|
||||||||||||
Net income (loss) from continuing operations
|
$
|
0.12
|
$
|
(0.03
|
)
|
$
|
0.08
|
|||||
Net income (loss) from discontinued operations
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Net income (loss) attributable to NTS
|
$
|
0.12
|
$
|
(0.03
|
)
|
$
|
0.08
|
|||||
|
||||||||||||
Weighted average common shares outstanding
|
11,490,000
|
11,459,000
|
11,320,000
|
|||||||||
Dilutive effect of stock options, nonvested shares and warrants
|
604,000
|
596,000
|
506,000
|
|||||||||
Weighted average common shares outstanding, assuming dilution
|
12,094,000
|
12,055,000
|
11,826,000
|
|
Three months ended
|
|||||||||||
|
April 30,
|
January 31,
|
April 30,
|
|||||||||
|
2013
|
2013
|
2012
|
|||||||||
|
||||||||||||
Net Income
|
$
|
1,616,000
|
$
|
(130,000
|
)
|
$
|
1,222,000
|
|||||
Add
|
||||||||||||
Interest
|
791,000
|
826,000
|
877,000
|
|||||||||
Taxes
|
1,066,000
|
678,000
|
833,000
|
|||||||||
Depreciation
|
2,088,000
|
2,002,000
|
1,931,000
|
|||||||||
Amortization
|
510,000
|
529,000
|
503,000
|
|||||||||
EBITDA
|
6,071,000
|
3,905,000
|
5,366,000
|
|||||||||
Add
|
||||||||||||
Share based compensation
|
588,000
|
129,000
|
152,000
|
|||||||||
Impairment loss
|
-
|
-
|
-
|
|||||||||
Adjusted EBITDA
|
$
|
6,659,000
|
$
|
4,034,000
|
$
|
5,518,000
|
![]() |
www.nts.com
|
National Technical Systems, Inc. Corporate Headquarters
|
|
|
|
|
|
24007 Ventura Boulevard, Suite 200, Calabasas, CA 91302
|
Main: 818-591-0776
|
Fax: 818-591-0899
|
M9AXZU6"=V?[+(+5"W'R1J$7CMP`?QK-0I5))1#5'77_QV\53S,UK'I]K'GA5 MA+''N6)JWHWQ[U^WG7^U;*RO(,_,$4Q/^!R1^E9/P>'@*0747C50+UG_`'#S MLRP[,=,J>&SGD\=*Z+Q1\'8M9U7[5\/[_3)-+>,,T;W9?8^3D`@-QC'4^M4U M23Y9*P:GM_@OQ5IOB_1DU'2I#MSLEB?AXG_NL/Z]ZWJ\B^"WP_\`$/@G5[]] M4FLGL;J$*5@E9CYBM\IP5'8M^=>NUQ5%%2M%Z%(J7:,;B-^D2J=^>X]*S_"= M[9ZA8?:=+=/L!"QQQ*`OD[>"A`Z4SQI%K,FC/_PCC6_V[H%N&VH01CDX->?? M!3PQXK\*2^(#XAB$JW!@:W*S*RG!<.``>.".U4DG"]]2->;R/7Z*1&W(&P5R M,X/44M9%D-ZCRV<\<+;9&C95;.,$C@UY;XV=-0TS4+;0'B:_MRMQJ"I$%:\4 M*%\S(^]MQT_'TKNO$S7]SI6JVFGVLK.;218W#!2\A&`%R1ZGFO$]"\/?$.S\ M1P:G=)H]F(2`/M-\H8IW#;-V<@G-=5!*/O-ZG/5O+1+0XV_UNXL+=IXV595^ MY\O\7:O.-?FU/5;@W%]>37C=0)&^[]!T'X5]$>-?AWH-WJT5[<>(H=/TVZ=O M)MX8O,S(/OJKD@#'8'M65JVG_#SP+I_VR\L+G4Y^D27DO,C>@1<`CZ\"NN51 M36B(H15):[L[3]EU'3X7+O!&;V8C/I\O]C?]>C?^AFN*E[U70ZF9_A>Z@\1/JGAGP+9OI$+6,D@N'?==7C*5PDC_ M`,*G)&U>.>]>?^%- UU*!66:VD(DB;C 02L'D=AP" M2:^O?@7_`,DMT3Z2_P#HUZ^/Z^P/@7_R2W1/I+_Z->HQ7P($ OJ^C3QVNJ,H$J2@^7-@8!R.0V,#O MFO6'&Y2N2,C&17QKXCU[Q=H>NWVF7FO:NDUM*T9S=2#(SP1ST(P1]:Y:$9-W MB[#9%K_P[\5:&6-]HUR8E_Y:P+YJ8] ,(TY)&,@=A@\GGFNR,Y\W+)?,D]`^!_P`4-0U75HO#WB*;[3)*I^S7 M3??W`9V,>_`.#UX[YKW>OD7X$:5<:E\2--EA1C#9[KB9^R@*0/S)`KZZKDQ, M5&>A2&3Q+/"\;YVL,'!P1]/>O+- ='5PQ]]H M&/H:]6JM=V-M=RPR7$2N\);8QZC $^`OB)XQ\3>(Y+>W MTRVN-+M/W-W?2N8HE4?>+8&"W7`'/X9KLO%^H7ITB7_A$I&N+>-B;L+(QG7' M3@\[,>GX]ZX/XD^*/$'@@C3SX3CMM!C8BWDM)3Y#<]20O#'ONYKS[3OBK>#5 M/MEI9K:7*]-DQ.1^7Z5VPC&3YO\`AC"<)VLEI^)WFA^(-5U#1?&M_>RO&D1M M;.T16.!EB[M[D@"J]OXP@%L+>[N(XK\_*@9L!_?V/M73WS6WBKX;V,UU);^' M+[5IVN?,CCS%(R90&3^[N'?\:\1\;>!=?T*WE?4K)Y+ EW"?-A?W#C^N#6 MD))7[W(='G=K[(];TVT7Q)H&J>&;C#27*&YLBW\-P@R,?[PR#7`?!OP/=^-? M'*7.J"5]&TAE,QE)(9ARL(SZGDCT^HK9^`OA+QK=:K8ZBY>ST*"19-]XI)D` M.<1`\\^O3Z]*^G=,TVSTNV:#3K:.WA:1I66,8R['+,?4DFL*]9:J/4WHPE37 M*RW7F_Q3^&1\=:E978U067V>$Q;?(\S=ELYSN%>D45R1DXNZ-3ROX:_"4^"_ M$9U4ZP+S]RT/E_9]G4CG.X^E=]XKT*U\2^'[S2;X?N;A-H8#)1NJL/<'!K6H MIRG*3YGN!X!_PSPW_0QC_P``_P#[.O8?`GAX^%?"MEHYN?M/V8,/-V;-V6+= M,GU]:WJ* 9NR,8QD5PN@_`AM)US M3M1_M\2_9+B.?9]DQNVL&QG?QG%>X441JSBN5/0+!7&^/OAUHGC1%DOT>WOT M7:EW#@/CT;LP^OX$5V5%1&3B[H9\Y7W[/FJ+*?L.M64L>>#-&R'\ANJSI7[/ M=P95.K:Y"L0ZK;1%B?Q;&/R-?0E%;?6:G<5D8/@_PGI/A'3?L>C6_EACF25S MNDE/JQ_ITK>HHK%MMW8PHHHI`-FBCFB:.9%DC<89'&01Z$5P.M_![P1J\QFD MT6.UG)SOLW:'G_=!V_I1133:V`MZ[\-M&UFST^SN+C4HK*RA2&*WM[CRU(7H M6P,D_C6SX8\+:5X9M'MM*BF6*3[XFN'EW?\`?1./PHHIN 1110`4444`%%%%`!1110`4444`%%%%`!1110!__9 ` end