-----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, TBF7x65ByH22HQSTqtPsGeVQoTECX2dmwpHpACOTgOTYGfVYrL9sAvSNEVl0HXwq ZAnRwEbkhEMXnarPwY59mA== 0000276747-98-000012.txt : 19981118 0000276747-98-000012.hdr.sgml : 19981118 ACCESSION NUMBER: 0000276747-98-000012 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19981116 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: SEC FILE NUMBER: 000-09010 FILM NUMBER: 98750547 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 September 30, 1998 --------------------------------- 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 October 31, 1998, the registrant had outstanding 4,891,765 common shares without par value. The Index to Exhibits is located at page 15 in the sequential numbering system. Total pages: 17. ROBINSON NUGENT, INC. AND SUBSIDIARIES INDEX Page No. -------- PART I. Financial Information: Item 1. Financial Statements Consolidated balance sheets at September 30, 1998, September 30, 1997 and June 30, 1998 ......3 Consolidated statements of operations for the three months ended September 30, 1998 and September 30, 1997 . .....5 Consolidated statements of cash flows for the three months ended September 30, 1998 and September 30,1997...6 Notes to consolidated financial statements ......7 Item 2. Management's discussion and analysis of financial condition and results of operations ......8 PART II. Other Information .....13 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (IN THOUSANDS)
September 30 June 30 ---------------------- ------- ASSETS 1998 1997 1998 ------- ------- ------- (Unaudited) Current assets: Cash and cash equivalents $ 1,035 $ 3,262 $ 959 Accounts receivable, net 8,472 11,006 9,274 Inventories: Raw materials 990 1,184 1,497 Work in process 5,818 6,729 5,595 Finished goods 4,224 3,716 2,970 ------- ------- ------- Total inventories 11,032 11,629 10,062 Other current assets 2,069 1,538 2,012 ------- ------- ------- Total current assets 22,608 27,435 22,307 Property, plant & equipment, net 20,200 21,188 19,424 Other assets 517 147 571 ------- ------- ------- Total assets $43,325 $48,770 $42,302 ======= ======= =======
See accompanying notes to the consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT SHARE DATA)
September 30 June 30 -------------------- ------- LIABILITIES AND SHAREHOLDERS' EQUITY 1998 1997 1998 ------- ------- ------- (Unaudited) Current liabilities: Current installments of long-term debt $ 379 $ 376 $ 367 Short-term bank borrowings -- -- 570 Accounts payable 5,294 4,888 5,147 Accrued expenses 5,268 4,603 5,483 Income taxes -- 953 -- ------- ------- ------- Total current liabilities 10,941 10,820 11,567 Long-term debt, excluding current installments 9,228 6,845 7,607 Other liabilities 980 -- -- Deferred income taxes -- 830 -- ------- ------- ------- Total liabilities 21,149 18,495 19,174 ------- ------- ------- Shareholders' equity: Common shares without par value Authorized shares 15,000,000; issued 6,851,250 shares 20,950 20,950 20,950 Retained earnings 13,246 21,011 14,563 Equity adjustment from foreign currency translation 1,067 1,471 713 Employee stock purchase plan loans and deferred compensation (95) (161) (106) Less 1,959,485 treasury shares (12,992) (12,996) (12,992) ------- ------- ------- Total shareholders' equity 22,176 30,275 23,128 ------- ------- ------- Total liabilities and shareholders' equity $43,325 $48,770 $42,302 ======= ======= =======
See accompanying notes to the consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended September 30 -------------------- 1998 1997 ------- ------- (Unaudited) Net sales $14,914 $18,543 Cost of sales 12,086 15,157 ------- ------- Gross profit 2,828 3,386 Selling, general and administrative expenses 3,418 3,650 Restructuring and unusual expenses 798 -- ------- ------- Operating loss (1,388) (264) ------- ------- Other income (expense): Interest income 13 31 Interest expense (164) (134) Royalty income -- 1 Currency gain (loss) (67) 156 ------- ------- (218) 54 Loss before income taxes (1,606) (210) Income taxes (289) (78) ------- ------- Net loss $(1,317) $ (132) ======= ======= Per Share Data: Basic net loss per common share $ (.27) $ (.03) ======= ======= Weighted average number of common shares outstanding 4,892 4,892 ======= ======= Diluted net loss per common share $ (.27) $ (.03) ======= ======= Adjusted weighted average number of common shares, assuming dilution 4,892 4,892 ======= ======= Dividends per common share $ -- $ .03 ======= =======
See accompanying notes to the consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS)
Three Months Ended September 30 -------------------- 1998 1997 ----- ----- (Unaudited) Cash flows from operating activities: Net loss $(1,317) $ (132) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 1,035 1,466 Disposal of capital assets 8 2 Changes in assets and liabilities Receivables 802 778 Inventories (970) (529) Other assets (256) (198) Accounts payable and accrued expenses 912 (334) Income taxes (321) (628) Deferred income taxes (9) (6) ------- ------- Net cash provided by (used in) operating activities (116) 419 ------- ------- Cash flows from investing activities: Capital expenditures (1,351) (1,881) ------- ------- Net cash used in investing activities (1,351) (1,881) ------- ------- Cash flows from financing activities: Proceeds from long-term debt 1,500 1,000 Repayments of long-term debt (41) (37) Cash dividends paid -- (147) Repayments of employee stock purchase plan loans 10 14 ------- ------- Net cash provided by financing activities 1,469 830 ------- ------- Effect of exchange rate changes on cash 74 (224) ------- ------- Decrease in cash and cash equivalents 76 (856) Cash and cash equivalents at beginning of period 959 4,118 ------- ------- Cash and cash equivalents at end of period $ 1,035 $ 3,262 ======= =======
See accompanying notes to the consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 1998 AND 1997, AND JUNE 30, 1998 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. The results of operations for the interim period are not necessarily an indication of results to be expected for the entire year. 2. 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, 1998, and management's discussion and analysis included in Part I, Item 2 in this report. 3. The Company recorded restructuring and unusual expenses of $798,000, before taxes, in the quarter. This is presented separately as a component of the operating loss in the consolidated statements of operations. These expenses include $532,000 of restructuring expenses related to the move of the Company's cable assembly operations from North Carolina to Reynosa, Mexico. Also included are $266,000 of personnel costs incurred to design and implement a new worldwide information system that satisfies year 2000 requirements. PART I. FINANCIAL INFORMATION ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS - --------------------- Customer orders for the first quarter ended September 30, 1998, amounted to $16.8 million, up 28% from orders of $13.1 million in the fourth quarter of the prior year. This increase reflected a 35% increase in the United States, a 12% increase in Europe and a 24% increase in Asia. In addition, the Company increased its backlog of unshipped orders in the quarter by $2.1 million or 21%, to $12.3 million. The Company increased its backlog in every geographic region it serves. The backlog in the United States was up $1.5 million or 22%, while Europe and Asia were up $.4 million (17%) and $.2 million (18%) respectively. Customer orders were $18.1 million in the first quarter of the prior year, and the backlog of unshipped orders at September 30, 1997, was $14.1 million. Based on the improved incoming order activity and a higher backlog of unshipped orders, management anticipates higher sales levels as the year progresses. Net sales for the quarter were $14.9 million compared to $16.4 million in the fourth quarter of the prior year, and $18.5 million in the same period a year ago. Customer sales in the United States were $10.1 million compared to $11.8 million in the prior year, and $11.0 million in the prior quarter. The Company continues to experience a decline in the sales of older, more mature products, such as stamped and screw machine sockets, as well as older versions of backpanel connectors and high-density sockets. But it has experienced higher levels of incoming orders and sales activity on its more profitable METPAK 2 connectors, and its high-density, surface mount, fine pitch board-to-board interconnect systems. These types of connectors are used in high-speed routers, computer workstations, high- end servers and other communication and networking components. European customer sales were $3.5 million compared to $4.7 million in the first quarter of the prior year, and $4.0 million in the prior quarter. This sales decline is due primarily to a reduction in sales of screw machine and stamped sockets. The European sales team has refocused its sales effort on more profitable business niches. The lower sales of these older, more mature connectors has been partially offset by an increase in sales of newer, more profitable smart card reader and PCMCIA connectors. These connectors are currently in demand by major communication and satellite broadcasting companies in Europe. Based on higher incoming order activity and an increase in the backlog of unshipped orders in these product categories, management anticipates improved performance in this region as the year progresses. Customer sales in Asia, which includes sales generated from operations in Japan, Malaysia and Singapore, were $1.3 million in the quarter compared to $2.1 million in the first quarter of the prior year, and $1.4 million in the prior quarter. The Company expects sales to improve in this region due to the introduction of a new product line consisting of small outline memory module connectors. The economic and social conditions in the region and the instability of the Japanese yen and other Asian currencies had some impact on sales in the quarter. The continuing strength of the dollar and the pound sterling against these currencies has perpetuated the high relative cost of products produced in North America and Europe, compared to products produced locally in the region. The recent strengthening of the Japanese yen should help provide some relief. Comparative sales by geographic territory for the respective periods follows:
Three Months Ended ($000 omitted) September 30 ------------------- 1998 1997 -------- ------- United States: Domestic $ 9,800 $11,372 Export: Europe -- 21 Asia -- 7 Rest of world 339 356 ------- ------- Total export sales 339 384 ------- ------- Total sales to customers 10,139 11,756 Intercompany 872 2,238 ------- ------- Total United States 11,011 13,994 ------- ------- Europe: Domestic 3,475 4,672 Export to Asia -- -- ------- ------- Total sales to customers 3,475 4,672 Intercompany 558 1,081 ------- ------- Total Europe 4,033 5,753 ------- ------- Asia: Domestic 1,300 2,115 Rest of world -- -- ------- ------- Total sales to customers 1,300 2,115 Intercompany 891 847 ------- ------- Total Asia 2,191 2,962 ------- ------- Eliminations (2,321) (4,166) ------- ------- Consolidated $14,914 $18,543 ======= =======
Gross profits in the quarter ended September 30, 1998, amounted to $2,828,000 or 19.0 percent of net sales, compared to $3,386,000 or 18.3 percent of net sales in the prior year. Gross profits are net of engineering charges associated with new product development, which amounted to $793,000 or 5.3 percent of net sales in the current quarter compared to $987,000 or 5.3 percent of net sales in the prior year. The reduction in gross profits in the quarter compared to the prior year reflects lower sales, continued competitive price pressures worldwide, and lower plant utilization as a result of the lower sales volumes. Gross profits were favorably impacted by the effect of manufacturing cost reduction programs. Selling, general and administrative expenses of $3,418,000 for the three months ended September 30, 1998 decreased 6.4% compared to expenses of $3,650,000 in the prior year. Lower sales and marketing expenses in the United States and Europe, coupled with lower administrative expenses in Asia, were partially offset by an increase in administrative, recruiting and compensation expenses in the United States. The Company recorded restructuring and unusual expenses of $798,000, before taxes, in the quarter. These expenses include $532,000 of restructuring expenses related to the move of the Company's cable assembly operations from North Carolina to Reynosa, Mexico. The new facility started operations in September 1998. The North Carolina facility will be closed by the end of December 1998. Most of the costs related to this project were incurred and expensed in the current and previous quarters. The restructuring and unusual expenses also include $266,000 of personnel costs incurred to design and implement a new worldwide information system that satisfies year 2000 requirements. Other income and expense for the three months ended September 30, 1998, reflect other expenses of $218,000 compared to other income of $54,000 for the comparable three-month period in the prior year. Other income and expense reflected a currency loss in the current quarter, compared to a currency gain in the prior period, combined with higher interest expense. Interest expense increased from $134,000 in the prior period to $164,000 in the current period due primarily to an increase in short- term and long-term debt. Currency losses in the quarter totaled $67,000 compared to a currency gain of $156,000 in the prior period. These currency losses were generated overseas, primarily in Malaysia. The losses in Malaysia were a direct result of a decision by the government of Malaysia to freeze foreign currency exchange rates relative to the Malaysian ringgit. The provision for income taxes was provided using the appropriate effective tax rates for each of the tax jurisdictions in which the Company operates. An income tax benefit has been accrued for losses generated in the United States, but no tax benefit has been recognized on pretax losses incurred in Belgium, Scotland, Malaysia and Japan. The Company maintains a valuation allowance for tax benefits of prior period net operating losses in various jurisdictions. At such time as management is able to project the probable utilization of all or part of these net operating loss carryforward provisions, the valuation allowances for these deferred tax assets will be reversed. The net loss in the quarter ended September 30, 1998, amounted to $1,317,000 or 27 cents per share, including restructuring and unusual expenses of $519,000 (after income taxes) or 11 cents per share, compared to a net loss of $132,000 or 3 cents per share, in the prior period. Operations in the United States, Europe and Asia incurred net losses, after restructuring and unusual expenses, in the quarter of $606,000, $590,000 and $121,000 respectively. Although the Company was not profitable in the quarter, there was a significant improvement in its operating performance over the prior quarter. While sales declined 9% from $16.4 million in the fourth quarter of the prior year to $14.9 million in the current quarter, the Company's pretax loss, excluding restructuring and unusual expenses, improved from $1.8 million to $0.8 million. Management anticipates higher sales levels and a return to profitability as the year progresses. This improved performance in future quarters does not depend solely upon higher revenue levels, as it will be augmented by reductions in manufacturing costs and operating expenses implemented in the current and prior periods. FINANCIAL CONDITION AND LIQUIDITY - ---------------------------------- Working capital at September 30, 1998, amounted to $11.7 million compared to $16.6 million at September 30, 1997 and $10.7 million at June 30, 1998. The current ratio was 2.1 to 1 at September 30, 1998 compared to 2.5 to 1 at September 30, 1997. The decrease in working capital, compared to the prior year, primarily reflects a reduction in accounts receivables and inventory, augmented by increases in accounts payable and accrued expenses. In November 1998, the Company amended its existing credit agreement, and entered into a new term loan agreement with its primary bank. The amendments to the credit agreement primarily reflected the elimination of a scheduled $1.0 million decrease in the credit facility, revised financial covenants, and the pledge of accounts receivable and inventory as collateral for this agreement. This collateral will be released by the bank when the Company achieves certain financial ratio levels. Long term borrowings under this facility were $7.7 million as of September 30, 1998. The new $1.3 million term loan is secured by a mortgage on the facility in Dallas, Texas. Long-term debt excluding current installments, represented $9.2 million, or 42 percent of shareholders' equity at September 30, 1998, compared to $7.6 million or 33 percent of shareholders' equity at June 30, 1998. The Company believes future working capital and capital expenditure requirements can be met from cash provided by operating activities, existing cash balances, and borrowings available under the existing credit facilities. INFORMATION SYSTEMS AND YEAR 2000 ISSUES - ---------------------------------------- The Company is currently in the process of replacing the management information systems of its operations in the United States, Europe and Asia including order management, manufacturing resource planning, finance and accounting. These systems are scheduled to be operational by June 30, 1999 at a total cost of approximately $5.0 million. The implementation program is on schedule. The Company has incurred costs in the current and prior periods of approximately $2.3 million. Expenditures in the quarter include $266,000 of personnel costs reflected in the restructuring and unusual expense category of the statement of operations, and $0.6 million of capital expenditures. Funding for these expenditures has been provided by operating activities, existing cash balances and borrowings available under the existing credit facilities. This new information system is currently being tested in a pilot program. While the Company expects that this new integrated system will increase operational efficiencies, support future growth, and address the impact of the year 2000 on current information systems, the Company's future operating results and financial condition could be adversely affected by functional or performance difficulties with the new system during the transition period. The Company does not presently have a contingency plan in the event of failure of these new management information systems, and is uncertain as to the effects of any such failure on the Company's results of operation, liquidity and financial conditions. The Company intends to create a contingency plan during fiscal 1999. In addition, other information and operational systems have to be assessed related to the impact of the year 2000. Plans are being developed to address system modifications required by December 31, 1999. The Company has considered the potential effect of Year 2000 issues on the Company's business, results of operations, and financial condition if key suppliers and vendors do not become year 2000 compliant in a timely manner. Management has taken reasonable steps to verify the year 2000 readiness of its suppliers, vendors and customers. DIVIDEND ACTION - --------------- On July 23, 1998 the Board of Directors voted not to declare a cash dividend in the quarter. CAUTIONARY STATEMENTS FOR PURPOSES OF THE SAFE HARBOR - ----------------------------------------------------- In addition to statements of historical fact, this quarterly report contains forward-looking statements which are inherently subject to change, based on known and unknown risks, including but not limited to changes in the market and industry. Please refer to documents filed with the Securities and Exchange Commission for additional information on factors that could materially affect the Company's financial results. PART II. OTHER INFORMATION Item 1. Not applicable. Item 2. Not applicable. Item 3. Not applicable. Item 4. Not applicable. Item 5. Not applicable. 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 September 30, 1998. 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 11/13/98 /s/ Larry W. Burke -------------------- ------------------------------ Larry W. Burke President and Chief Executive Officer Date 11/13/98 /s/ Robert L. Knabel -------------------- ------------------------------ 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, (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 Report dated July 6, 1992.) 4.5 Amendment No. 3 to Rights Agreement dated February 11, 1998 (Incorporated by reference To Exhibit 4.5 to Form 10-Q Report for the Period ended December 31, 1998.) (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 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.) 10.4 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.) 10.5 Deferred compensation agreement dated May 10, 1990 between Robinson Nugent, Inc. and Larry W. Burke, President and Chief Executive Officer. (Incorporated by reference to Exhibit 19.1 to Form 10-K Report for year ended June 30, 1990.) 10.6 Rabbi Trust Agreement dated July 1, 1996 between Robinson Nugent, Inc. and Dean Witter Trust Company, related to the deferred compensation agreement between Robinson Nugent, Inc. and Larry W. Burke President and Chief Executive Officer. (Incorporated by reference to Exhibit 10.6 to Form 10-K Report for year ended June 30, 1997.) 10.7 Amendment of the 1993 Robinson Nugent, Inc. Employee and Non-Employee Director Stock Option Plan. (Incorporated by reference to Exhibit 10.7 to Form 10-K Report for year ended June 30, 1998.) 10.8 Summary of the 1993 Robinson Nugent, Inc. Employee and Non-Employee Director Stock Option Plan, as amended. (Incorporated by Reference to Exhibit 10.8 to Form 10-K Report for year ended June 30, 1998.) 10.9 Summary of Robinson Nugent, Inc. Bonus Plan for the fiscal year ended June 30, 1999. (Incorporated by reference to Exhibit 10.9 to Form 10-K Report for year ended June 30, 1998.) (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 SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 3-MOS JUN-30-1999 JUL-01-1998 SEP-30-1998 1,035 0 9,064 592 11,032 22,608 65,473 45,273 43,325 10,941 0 20,950 0 0 1,226 43,325 14,914 14,914 12,086 12,086 4,216 0 164 (1,606) (289) (1,317) 0 0 0 (1,317) (.27) (.27)
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