-----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, LO+AvrvaFVxiDBcdJVXYPoAxbZVtuaBG+r56Mb3+z+0hJVJuZWM9QMzc3Dge7Itd l7A4mygM/aP+v28OH1nObw== 0000276747-97-000007.txt : 19970515 0000276747-97-000007.hdr.sgml : 19970515 ACCESSION NUMBER: 0000276747-97-000007 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970331 FILED AS OF DATE: 19970514 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROBINSON NUGENT INC CENTRAL INDEX KEY: 0000276747 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC CONNECTORS [3678] IRS NUMBER: 350957603 STATE OF INCORPORATION: IN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-09010 FILM NUMBER: 97604831 BUSINESS ADDRESS: STREET 1: 800 E EIGHTH ST STREET 2: PO BOX 1208 CITY: NEW ALBANY STATE: IN ZIP: 47151-1208 BUSINESS PHONE: 8129450211 MAIL ADDRESS: STREET 1: PO BOX 1208 STREET 2: 800 E EIGHTH ST CITY: NEW ALBANY STATE: IN ZIP: 47151-1208 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended MARCH 31, 1997 -------------------------- OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to -------------- ----------------- Commission File Number 0-9010 -------------------------------------------------- ROBINSON NUGENT, INC. (Exact name of registrant as specified in its charter) - ----------------------------------------------------------------------- INDIANA 35-0957603 - ----------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 800 East Eighth Street, New Albany, Indiana 47151-1208 - ----------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (812) 945-0211 ---------------- Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ---- ---- Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practical date: As of April 30 1997, the registrant had outstanding 4,891,765 common shares without par value. The Index to Exhibits is located at page 13 in the sequential numbering system. Total pages: 15. ROBINSON NUGENT, INC. AND SUBSIDIARIES INDEX Page No. -------- PART I. Financial Information: Item 1. Financial Statements (Unaudited) Consolidated condensed balance sheets at March 31,1997, March 31, 1996 and June 30, 1996 .......3 Consolidated condensed statements of income for the three and nine months ended March 31, 1997 and March 31, 1996......5 Consolidated condensed statements of cash flows for the nine months ended March 31, 1997 and March 31,1996 ..... 6 Notes to consolidated condensed financial statements .......7 Item 2. Management's discussion and analysis of financial condition and results of operations .......8 PART II. Other Information ..... 11 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (IN THOUSANDS, EXCEPT SHARE DATA)
March 31 June 30 ------------------ ------- ASSETS 1997 1996 1996 ------- ------- ------- Current assets: Cash and cash equivalents $ 2,027 $ 2,024 $ 2,368 Accounts receivable, net 13,729 12,280 10,433 Inventories: Raw materials 1,722 2,263 1,899 Work in process 6,163 6,977 7,021 Finished goods 3,811 4,169 4,526 ------- ------- ------- Total inventories 11,696 13,409 13,446 Other current assets 1,638 1,747 1,532 ------- ------- ------- Total current assets 29,090 29,460 27,779 ------- ------- ------- Property, plant & equipment, net 21,267 25,588 23,618 Other assets 63 692 69 ------- ------- ------- Total assets $50,420 $55,740 $51,466 ======= ======= =======
See accompanying notes to consolidated condensed financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (IN THOUSANDS, EXCEPT SHARE DATA)
March 31 June 30 ------------------ ------- LIABILITIES AND SHAREHOLDERS' EQUITY 1997 1996 1996 ------- ------- ------- Current liabilities: Current installments of long-term debt $ 752 $ 522 $ 713 Short-term bank borrowings -- 2,520 6,400 Accounts payable 4,005 6,022 5,692 Accrued expenses 5,167 4,752 4,557 Income taxes 1,029 578 89 ------- ------- ------- Total current liabilities 10,953 14,394 17,451 ------- ------- ------- Long-term debt, excluding current installments 8,030 3,428 3,036 Deferred income taxes 980 1,047 1,011 ------- ------- ------- Total liabilities 19,963 18,869 21,498 ------- ------- ------- Shareholders' equity: Common shares without par value Authorized shares: 15,000,000; Issued shares: 6,851,250 20,950 20,955 20,950 Retained earnings 20,560 22,921 19,521 Equity adjustment from foreign currency translation 2,130 3,108 2,847 Employee stock purchase plan loans and deferred compensation (187) (489) (354) Less treasury shares: 1,959,485 shares at March 31, 1997 and June 30, 1996, and 1,459,642 shares at March 31, 1996 (12,996) (9,624) (12,996) ------- ------- ------- Total shareholders' equity 30,457 36,871 29,968 ------- ------- ------- Total liabilities and shareholders' equity $50,420 $55,740 $51,466 ======= ======= =======
See accompanying notes to consolidated condensed financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF INCOME (UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended Nine Months Ended March 31 March 31 ----------------- ----------------- 1997 1996 1997 1996 ------- ------- ------- ------- Net sales $21,651 $21,178 $62,874 $61,725 Cost of sales 16,474 16,434 48,722 47,448 ------- ------- ------- ------- Gross profit 5,177 4,744 14,152 14,277 Selling, general and administrative expenses 3,786 3,952 11,464 11,738 ------- ------- ------- ------- Operating income 1,391 792 2,688 2,539 ------- ------- ------- ------- Other income (expense): Interest income 53 34 95 92 Interest expense (164) (142) (538) (375) Royalty income 5 95 55 155 Currency gain (loss) 133 17 308 (84) Other expense -- -- -- (122) ------- ------- ------- ------- 27 4 (80) (334) ------- ------- -------- ------- Income before income taxes 1,418 796 2,608 2,205 Income taxes 479 464 1,129 1,129 ------- ------- ------- ------- Net income $ 939 $ 332 $ 1,479 $ 1,076 ======= ======= ======= ======= Net income per common share $ .19 $ .06 $ .30 $ .20 ======= ======= ======= ======= Dividends per common share $ .03 $ .03 $ .09 $ .09 ======= ======= ======= ======= Weighted average number of common shares outstanding and common share equivalents 4,903 5,414 4,906 5,433 ======= ======= ======= =======
See accompanying notes to consolidated condensed financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (IN THOUSANDS)
Nine Months Ended March 31 ------------------ 1997 1996 ------- ------- Cash flows from operating activities: Net income $ 1,479 $ 1,076 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,989 3,972 (Gains) losses from disposition of capital assets (8) 258 Increase in receivables (3,296) (71) (Increase) decrease in inventories 1,750 (2,131) Decrease in other current assets 41 400 Increase (decrease) in accounts payable and accrued expenses (1,077) 187 Increase in income taxes 762 399 ------- ------- Net cash provided by operating activities 3,640 4,090 ------- ------- Cash flows from investing activities: Capital expenditures (2,325) (5,467) Proceeds from the sale of capital assets 146 -- Decrease in other assets 6 75 ------- ------- Net cash used in investing activities (2,173) (5,392) ------- ------- Cash flows from financing activities: Proceeds from short-term bank borrowings -- 2,230 Repayments of short-term bank borrowings (300) (239) Proceeds from long-term debt -- 193 Repayments of long-term debt (749) (644) Cash dividends paid (440) (484) Repayments of employee stock purchase plan loans 119 182 Issuance of common stock -- 5 Stock options exercised -- 3 ------- ------- Net cash provided by (used in) financing activities (1,370) 1,246 ------- ------- Effect of exchange rate changes on cash (438) (380) ------- ------- Decrease in cash and cash equivalents (341) (436) Cash and cash equivalents at beginning of period 2,368 2,460 ------- ------- Cash and cash equivalents at end of period $ 2,027 $ 2,024 ======= =======
See accompanying notes to consolidated condensed financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 1997 AND 1996, AND JUNE 30, 1996 1. In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments necessary (all of which are normal and recurring) to present fairly the financial position of the Company and its subsidiaries, results of operations, and cash flows in conformity with generally accepted accounting principles. 2. Earnings per common share are based upon the weighted average number of shares outstanding during each period, plus common share equivalents resulting from dilutive stock options. 3. The income tax expense for the quarter and the nine months ended March 31, 1997 were provided using the appropriate effective tax rates for each of the tax jurisdictions in which the Company operates. A provision for income tax expense has been accrued for profits generated in the United States, Switzerland and Netherlands, but no tax benefit has been recognized on the pretax losses incurred in Singapore and Malaysia. The income tax expense for profits generated in Scotland and Japan were offset by the partial reversal of valuation allowances for tax benefits of prior period net operating losses. At such time as management is able to project the probable utilization of all or part of the net operating loss carryforward provisions in Scotland, Singapore, Malaysia and Japan, the valuation allowance for these deferred tax assets will be reversed. 4. During February 1997 the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 128, "Earnings Per Share" ("SFAS No. 128"). The Company will adopt SFAS No. 128 during the second quarter of 1998 as required and does not expect it to have a material impact on the calculation of net income per share. 5. In February, 1997 the Company entered into a $9.0 million unsecured revolving credit agreement with one of its banks. This agreement expires on December 31, 1999. The weighted average interest rate on the $6.0 million outstanding balance as of March 31, 1997 was 7.2%. Proceeds from this agreement were used to repay $6.4 million of short-term borrowings. 6. Reference is directed to the Company's consolidated financial statements (Form 10-K), including references to the Annual Report, for the year ended June 30, 1996 and management's discussion and analysis included in Part I, Item 2 in this report. PART I. FINANCIAL INFORMATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This discussion and analysis contains both historical and forward looking information. The forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements may be significantly impacted by certain risks and uncertainties described herein, and in the Company's annual report on Form 10-K for the year ended June 30, 1996. MATERIAL CHANGES IN RESULTS OF OPERATIONS Net sales for the quarter ended March 31, 1997 were $21,651,000, compared to sales of $21,178,000 in the same period a year ago. The sales growth in the quarter reflects an increase in sales in Europe and Asia, partially offset by lower customer sales in the United States. Customer sales in Europe were $5,661,000 compared to $5,595,000 in the same period a year ago as higher sales of "Smart Card" and PCMCIA connectors were partially offset by lower export sales from Europe to Asia. Customer sales in the United States decreased 4% compared to prior year. Higher sales of PC Board connectors, newer 2.0 mm back plane connectors and cable assemblies where offset primarily by lower sales of high density sockets. Net sales for the nine months ended March 31, 1997 were $62,874,000, up 2 percent over sales of $61,725,000 for the same period a year ago. Customer sales were higher in Europe and Asia, partially offset by slightly lower customer sales in the United States. Customer sales in the United States decreased slightly compared to the prior year due primarily to the assignment of Asian customer sales to our Asia Pacific division. European sales increased 5% due to higher domestic sales, partially offset by lower exports to Asia.
Comparative sales by geographic territory for the respective periods follows: Three Months Ended Nine Months Ended ($000 omitted) March 31 March 31 ------------------ ----------------- 1997 1996 1997 1996 ------- -------- ------- ------- United States: Domestic $13,124 $13,602 $39,211 $39,630 Export: Europe 18 11 49 48 Asia 8 168 192 1,152 Rest of world 498 505 1,646 1,062 ------- ------- ------- ------- Total export sales 524 684 1,887 2,262 ------- ------- ------- ------- Total sales to customers 13,648 14,286 41,098 41,892 Intercompany 2,345 2,026 6,386 5,172 ------- ------- ------- ------- Total United States 15,993 16,312 47,484 47,064 ------- ------- ------- ------- Europe: Domestic 5,661 5,271 16,243 14,738 Export to Asia -- 324 422 1,352 ------- ------- ------- ------- Total sales to customers 5,661 5,595 16,665 16,090 Intercompany 1,188 867 3,036 2,600 ------- ------- ------- ------- Total Europe 6,849 6,462 19,701 18,690 ------- ------- ------- ------- Asia: Domestic 2,342 1,297 5,016 3,743 Export to Europe -- -- 95 -- ------- ------- ------- ------- Total sales to customers 2,342 1,297 5,111 3,743 Intercompany 555 514 2,174 2,096 ------- ------- ------- ------- Total Asia 2,897 1,811 7,285 5,839 ------- ------- ------- ------- Eliminations (4,088 (3,407) (11,596) (9,868) ------- ------- ------- ------- Consolidated $21,651 $21,178 $62,874 $61,725 ======= ======= ======= =======
Incoming customer orders for the quarter ended March 31, 1997 were $21.7 million, compared to orders of $22.3 million in the same quarter a year ago. Customer orders for the nine months ended March 31,1997 were $63.0 million compared to $63.4 million in the prior year. The Company ended the quarter with a backlog of unshipped orders of $16.1 million compared to $16.9 million a year ago. Gross profits in the quarter ended March 31, 1997 amounted to $5,177,000 or 23.9 percent of net sales, compared to $4,744,000 or 22.4 percent of net sales in the prior year. Gross profits are net of engineering charges associated with new product development which amounted to $892,000 or 4.1 percent of net sales in the current quarter compared to $1,013,000 or 4.8 percent of net sales in the prior year. The gross profits in the quarter reflect continued competitive price pressures, partially offset by lower manufacturing costs and higher gross profits from recently developed products. Gross profits for the nine months ended March 31, 1997 amounted to $14,152,000 or 22.5 percent of net sales, compared to $14,277,000 or 23.1 percent of net sales in the prior year. Engineering expenses for the nine months ended March 31, 1997 amounted to $2,427,000 or 3.8 percent of net sales compared to $2,688,000 or 4.4 percent of net sales in the prior year. The reduction of year-to-date engineering expenses is due primarily to a reduction in outside product evaluation services. Selling, general and administrative expenses of $3,786,000 for the three months ended March 31, 1997 decreased by $166,000 or 4 percent compared to expenses of $3,952,000 in the prior year. Lower expenses in Europe and the United States were partially offset by higher administrative expenses in Asia. The lower expenses in Europe reflect actions taken in prior periods to reduce administrative expenses in this region. Expenses of $11,464,000 for the nine months ended March 31, 1997 decreased by $274,000 or 2.3 percent compared to expenses of $11,738,000 in the prior year. This primarily reflected lower commissions, advertising, travel and administrative expenses. Other income and expense for the three months ended March 31, 1997 reflected a net income of $27,000 compared to $4,000 for the comparable three month period in the prior year. This reflected a currency gain in the quarter, offset by higher interest expense and lower royalty income. Currency gains totaled $133,000 compared to $17,000 in the prior year. The currency gains were generated primarily in Switzerland, and were partially offset by currency losses in Scotland and Japan. Interest expense increased to $164,000 compared to $142,000 in the prior year due to higher bank borrowings. Other income and expense for the nine months ended March 31, 1997 reflected an expense of $80,000 compared to $334,000 for the comparable nine month period in the prior year. Currency gains and the elimination of expenses related to a joint venture, were partially offset by higher interest expense and lower royalty income. Currency gains in the current period of $308,000 where recognized primarily in Scotland and Switzerland. Interest expense increased to $538,000 compared to $375,000 in the prior year period due to an increased borrowing level. Other expense in the prior year includes $122,000 of expenses related to the terminated Isocon L.C. joint venture. The provision for income taxes was provided using the appropriate effective tax rates for each of the tax jurisdictions in which the Company operates. A provision for income tax expense has been accrued for profits generated in the United States, Switzerland and Netherlands, but no tax benefit has been recognized on the pretax losses incurred in Singapore and Malaysia. The income tax expense for profits generated in Scotland and Japan were offset by the partial reversal of a valuation allowance for tax benefits of prior period net operating losses. At such time as management is able to project the probable utilization of all or part of the net operating loss carryforward provisions, in Scotland, Singapore, Malaysia and Japan, the valuation allowance for these deferred tax assets will be reversed. The net income in the quarter ended March 31, 1997 amounted to $939,000 or 19 cents per share, compared to $332,000 or 6 cents per share, a year ago. The net income for the nine months ended March 31, 1997 amounted to $1,479,000 or 30 cents per share compared to $1,076,000 or 20 cents per share a year ago. Year-to-date net income in the United States of $1,651,000 and Europe of $352,000 were partially offset by net losses of $524,000 in Asia. MATERIAL CHANGES IN FINANCIAL CONDITION Net working capital at March 31, 1997 amounted to $18.1 million compared to $15.1 million at March 31, 1996, $11.0 million at December 31, 1996, and $10.3 million at June 30, 1996. The current ratio was 2.7 to 1 compared to 2.0 to 1 in the prior year and 1.7 to 1 at December 31, 1996. The increase in net working capital, compared to the prior year, and the prior quarter, is due primarily to a reduction in short-term bank borrowings. In February 1997, the Company replaced its existing line of credit agreement with a new long-term credit facility. Long-term borrowings under this agreement were $6.0 million as of March 31, 1997. Cash and cash equivalent balances decreased by $341,000 at March 31, 1997 compared to June 30, 1996. The new long- term credit facility described above was the only significant change in long-term debt in the quarter. Long-term debt due after one year represented $8.0 million, or 26 percent of shareholders' equity at the quarter end, compared to $3.4 million or 9 percent of shareholders' equity at the prior year's quarter end. The Company believes working capital and capital expenditure requirements can be met from operations, cash balances, and available credit facilities. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS During February 1997 the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 128, "Earnings Per Share" ("SFAS No. 128"). The Company will adopt SFAS No. 128 during the second quarter of 1998 as required and does not expect it to have a material impact on the calculation of net income per share. PART II. OTHER INFORMATION Item 1. Not applicable. Item 2. Not applicable. Item 3. Not applicable. Item 4. Not applicable. Item 5. Other information. On January 28, 1997, the Company announced the election of Mr. Donald C. Neel and Mr. Ben M. Streepey to three year terms as members of the Board of Directors of the Company. Mr. Neel is the President and Chief Executive Officer of Health Network International, located in Indianapolis, Indiana. In addition to his regular duties as a member of the Board of Directors, Mr. Neel will serve as a member of the Audit committee. Mr. Streepey is the Vice President - Network Printer division of Lexmark International, located in Lexington, Kentucky. In addition to his regular duties as a member of the Board of Directors, Mr. Streepey will serve as a member of the Compensation committee. Item 6. Exhibits and Reports on Form 8-K. (a) See Index to Exhibits. (b) No reports on Form 8-K were filed during the quarter ended March 31, 1997. 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 thereunto duly authorized. ROBINSON NUGENT, INC. -------------------------------------- (Registrant) Date ----------------------- -------------------------------------- Larry W. Burke President and Chief Executive Officer Date ----------------------- -------------------------------------- Robert L. Knabel Vice President, Treasurer and Chief Financial Officer FORM 10-Q INDEX TO EXHIBITS Number of Sequential Item Numbering Assigned in System Regulation S-K Page Number Item 601 Description of Exhibit of Exhibit - -------------- ------------------------------------- ------------ (2) Not applicable. (4) 4.1 Specimen certificate for Common Shares, without par value. (Incorporated by reference to Exhibit 4 to Form S-1 Registration Statement No. 2-62521.) 4.2 Rights Agreement dated April 21, 1988 between Robinson Nugent, Inc. and Bank One, Indianapolis, N.A. (Incorporated by reference to Exhibit I to Form 8-A Registration Statement dated May 2, 1988.) 4.3 Amendment No. 1 to Rights Agreement dated September 26, 1991 between Robinson Nugent, Inc. and Bank One, Indianapolis, N.A. (Incorporated by reference to Exhibit 4.3 to Form 10-K Report for year ended June 30, 1991.) 4.4 Amendment No. 2 to Rights Agreement dated June 11, 1992. (Incorporated by reference to Exhibit 4.4 to Form 8-K Current Report dated July 6, 1992.) (10) 10.1 Robinson Nugent, Inc. 1983 Tax-Qualified Incentive Stock Option Plan. (Incorporated by reference to Exhibit 10.1 to Form 10-K Report for year ended June 30, 1983.) 10.2 Robinson Nugent, Inc. 1983 Non Tax- Qualified Incentive Stock Option Plan. (Incorporated by reference to Exhibit 10.2 to Form 10-K Report for year ended June 30, 1983.) 10.3 Deferred compensation agreement dated May 10, 1990 between Robinson Nugent, Inc. and Larry W. Burke, President and Chief Executive Officer, and related agreement dated May 10, 1990 between Robinson Nugent, Inc. and PNC Bank, Kentucky, Inc. (formerly Citizens Fidelity Bank and Trust Company of Louisville, Kentucky) as trustee. (Incorporated by reference to Exhibit 19.1 to Form 10-K Report for year ended June 30, 1990.) 10.4 Summary of Robinson Nugent, Inc. Bonus Plan for the fiscal year ended June 30, 1997. (Incorporated by reference to Exhibit 10.7 to Form 10-K Report for year ended June 30, 1996.) 10.5 1993 Robinson Nugent, Inc. Employee and Non-Employee Director Stock Option Plan. (Incorporated by reference to Exhibit 19.1 to Form 10-K Report for year ended June 30, 1993.) 10.6 Summary of the Robinson Nugent, Inc. Employee Stock Purchase Plan (Incorporated by reference to Exhibit 19.2 to Form 10-K Report for year ended June 30, 1993.) (11) Not applicable. (15) Not applicable. (18) Not applicable. (19) Not applicable. (22) Not applicable. (23) Not applicable. (24) Not applicable. (27) Financial Data Schedule (99) Not applicable. EX-27 2
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ROBINSON NUGENT, INC. 10-Q FOR THE PERIOD ENDING MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 9-MOS JUN-30-1997 JUL-01-1996 MAR-31-1997 2,027 0 14,372 643 11,696 29,090 60,738 39,471 50,420 10,953 0 20,950 0 0 9,507 50,420 62,874 62,874 48,722 48,722 11,464 0 538 2,608 1,129 1,479 0 0 0 1,479 .30 .30
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