-----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, Mc25YU2mALlipSAAigk98riR/Fscd2I6f8H9DagQq5m2cl08JXiBhLdnUnVpAOSu oRG93nzCrAVoHHjru6qZtQ== 0000276747-00-000004.txt : 20000502 0000276747-00-000004.hdr.sgml : 20000502 ACCESSION NUMBER: 0000276747-00-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000331 FILED AS OF DATE: 20000501 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: 615602 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, 2000 --------------- 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 December 31, 1999, the registrant had outstanding 5,085,948 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 March 31, 2000, March 31, 1999 and June 30, 1999........... 3 Consolidated statements of operations and comprehensive income for the three and nine months ended March 31, 2000 and March 31, 1999.......... 5 Consolidated statements of cash flows for the nine months ended March 31, 2000 and March 31,1999........... 6 Notes to consolidated financial statements.............. 7 Item 2. Management's discussion and analysis of financial condition and results of operations................. 9 PART II. Other Information................................... 13 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (IN THOUSANDS)
March 31 June 30 ------------------ ------- ASSETS 2000 1999 1999 ------- ------- ------- (Unaudited) Current assets: Cash and cash equivalents $ 1,237 $ 1,435 $ 845 Accounts receivable, net 16,407 10,466 13,159 Inventories: Raw materials 1,007 771 971 Work in process 8,162 5,336 5,569 Finished goods 8,106 3,965 4,092 ------- ------- ------- Total inventories 17,275 10,072 10,632 Other current assets 2,713 2,153 3,313 ------- ------- ------- Total current assets 37,632 24,126 27,949 ------- ------- ------- Property, plant & equipment, net 16,784 18,557 18,539 Other assets 118 470 138 ------- ------- ------- Total assets $54,534 $43,153 $46,626 ======= ======= =======
See accompanying notes to 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)
March 31 June 30 ------------------ ------- LIABILITIES AND SHAREHOLDERS' EQUITY 2000 1999 1999 ------- ------- ------- (Unaudited) Current liabilities: Current installments of long-term debt $ 501 $ 455 $ 449 Accounts payable 8,865 5,913 7,441 Accrued expenses 5,392 4,724 5,369 ------- ------- ------- Total current liabilities 14,758 11,092 13,259 ------- ------- ------- Long-term debt, excluding current installments 11,317 8,583 9,016 Other liabilities 971 1,050 901 ------- ------- ------ Total liabilities 27,046 20,725 23,176 ------- ------- ------- Commitments and contingencies -- -- -- ------- ------- ------- Shareholders' equity: Common shares without par value Authorized shares: 15,000,000; issued 6,980,192 shares at March 31, 2000, 6,851,250 shares at March 31, 1999 and June 30, 1999 21,443 20,950 20,950 Retained earnings 17,793 13,713 14,847 Equity adjustment from foreign currency translation 827 641 492 Employee stock purchase plan loans and deferred compensation (27) (82) (77) Less cost of common shares in treasury; 1,894,246 shares at March 31, 2000, 1,930,064 shares at March 31, 1999, 1,925,668 shares at June 30, 1999 (12,548) (12,794) (12,762) ------- ------- ------- Total shareholders' equity 27,488 22,428 23,450 ------- ------- ------- Total liabilities and shareholders' equity $54,534 $43,153 $46,626 ======= ======= =======
See accompanying notes to consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended Nine Months Ended March 31 March 31 ----------------- ----------------- 2000 1999 2000 1999 ------- ------- ------- ------- (Unaudited) (Unaudited) Net sales $23,985 $18,657 $67,713 $51,073 Cost of sales 17,017 13,849 48,714 39,560 ------- ------- ------- ------- Gross profit 6,968 4,808 18,999 11,513 Selling, general and administrative expenses 4,890 3,598 13,396 10,296 Special and unusual expenses 151 335 757 1,426 ------- ------- ------- ------- Operating income (loss) 1,927 875 4,846 (209) ------- ------- ------- ------- Other income (expense): Interest income 12 14 37 45 Interest expense (272) (216) (651) (576) Royalty income 11 21 11 21 Currency gains (losses) 12 (54) (256) (118) ------- ------- ------- ------- Total other income (expense) (237) 235 (859) (628) ------- ------- ------- ------- Income (loss) before income taxes 1,690 640 3,987 (837) Income taxes 464 132 1,097 (67) ------- ------- ------- ------- Net income (loss) $ 1,226 $ 508 2,890 $ (770) ------- ------- ------- ------- Other comprehensive income (loss): Foreign currency translation adjustments (175) (400) 335 (132) ------- ------- ------- ------- Comprehensive income (loss) $ 1,051 $ 108 $ 3,225 $ (902) ======= ======= ======= ======= PER SHARE DATA: Basic net income (loss) per common share $ .24 $ .10 $ .58 $ (.16) ======= ======= ======= ======= Weighted average number of common shares outstanding 5,013 4,912 4,962 4,901 ======= ======= ======= ======= Diluted net income (loss) per common share $ .23 $ .10 $ .56 $ (.16) ======= ======= ======= ======= Adjusted weighted average number of common Shares, assuming dilution 5,399 4,915 5,202 4,901 ======= ======= ======= ======= Dividends per common share $ -- $ -- $ -- $ -- ======= ======= ======= =======
See accompanying notes to consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS)
Nine Months Ended March 31 ------------------ 2000 1999 ------- ------- (Unaudited) Cash flows from operating activities: Net income (loss) $2,890 $ (770) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 3,654 3,225 Deferred income taxes 1,036 -- Disposal of capital assets 27 (83) Issuance of treasury shares as compensation 143 -- Change in assets and liabilities: Receivables (4,545) (1,192) Inventories (6,643) (10) Other assets 583 (639) Accounts payable and accrued expenses 1,775 1,057 ------ ------ Net cash provided by (used in) operating activities (1,080) 1,588 ------ ------ Cash flows from investing activities: Capital expenditures (4,506) (4,361) Proceeds from sales of fixed assets 2,526 2,126 ------ ------ Net cash used in investing activities (1,980) (2,235) ------ ------ Cash flows from financing activities Proceeds from short-term bank borrowings -- 250 Repayments of short-term bank borrowings -- (250) Proceeds from long-term debt 5,141 4,420 Repayments of long-term debt (2,693) (3,424) Repayments of employee stock purchase plan loans 49 20 Proceeds from exercised stock options 788 -- Repurchase of common shares (295) -- Grants of treasury shares -- 118 Proceeds from sale of treasury shares 127 -- ------ ------ Net cash provided by financing activities 3,117 1,134 ------ ------ Effect of exchange rate changes on cash 335 (11) ------ ------ Increase in cash and cash equivalents 392 476 Cash and cash equivalents at beginning of period 845 959 ------ ------ Cash and cash equivalents at end of period $1,237 $1,435 ====== ======
See accompanying notes to consolidated financial statements. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS (CONTINUED) ROBINSON NUGENT, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2000 AND 1999, AND JUNE 30, 1999 1. In the opinion of management, the accompanying unaudited consolidated 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 indicator 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, 1999 and management's discussion and analysis included in Part I, Item 2 in this report. 3. The Company recorded special and unusual charges of $151,000, before taxes, in the quarter and $757,000 year to date. These expenses are presented separately as a component of the operating income in the consolidated statements of operations. These expenses are personnel costs incurred to design and implement a new information and enterprise resource planning system for North American and European operations. This new system was designed and implemented to satisfy year 2000 requirements, enhance management and control systems and improve customer service and vendor communications. 4. The Financial Accounting Standards Board has issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities", which establishes accounting and reporting standards for hedging activities and for derivative instruments, including certain derivative instruments embedded in other contracts (collectively referred to as derivatives). It requires that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. Robinson Nugent will adopt the new standard in fiscal 2001. Robinson Nugent does not expect adoption of this standard will have a material impact on its financial statements. 5. The following tables present the Company's revenues and income (loss) before income taxes by geographic segment:
NET SALES Three Months Ended Nine Months Ended March 31 March 31 ------------------ ----------------- 2000 1999 2000 1999 -------- -------- ------- ------- United States: Domestic $13,931 $11,227 $40,959 $31,985 Export to rest of world 639 854 1,954 1,859 ------- ------- ------- ------- Total sales to customers 14,570 12,081 42,913 33,844 Intercompany 2,406 1,426 5,721 3,680 ------- ------- ------- ------- Total United States 16,976 13,507 48,634 37,524 ------- ------- ------- ------- Europe: Total sales to domestic customers 6,997 4,994 18,767 12,815 Intercompany 1,653 978 3,819 2,005 ------- ------- ------- ------- Total Europe 8,650 5,972 22,586 14,820 ------- ------- ------- ------- Asia: Total sales to domestic customers 2,418 1,582 6,033 4,414 Intercompany 3,486 946 6,999 2,864 ------- ------- ------- ------- Total Asia 5,904 2,528 13,032 7,278 ------- ------- ------- ------- Eliminations (7,545) (3,350) (16,539) (8,549) ------- ------- ------- ------- Consolidated $23,985 $18,657 $67,713 $51,073 ======= ======= ======= ======= INCOME (L0SS) BEFORE INCOME TAXES: Three Months Ended Nine Months Ended March 31 March 31 ------------------- ------------------ 2000 1999 2000 1999 -------- -------- ------- ------- United States(1) $ 754 $ 296 $2,449 $ (484) Europe 531 316 912 (269) Asia 405 28 626 (84) ------- ------- ------ ------- Consolidated $ 1,690 $ 640 $3,987 $ (837) ======= ======= ====== =======
(1) United States income (loss) before income taxes includes all of the special and unusual charges presented separately as a component of operating income (loss) in the consolidated statements of operations as well as corporate expenses. 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 third quarter ended March 31, 2000, amounted to $25.3 million, up 25 percent from orders of $20.3 million in the same quarter of the prior year. Growth trends in the Company's target market segments, including Internet equipment related applications and satellite communications interfaces, as well as the general connector market, continue to be strong. Customer orders for the nine months ended March 31, 2000 amounted to 76.1 million, up 38 percent from orders of $55.1 million in the prior year. This increase in customer orders for the first nine months of the year reflected a 24 percent increase in the United States, a 63 percent increase in Europe and a 75 percent increase in Asia. The Company increased its backlog of unshipped orders to $21.4 million, an increase of 43 percent compared to $15.0 million at March 31, 1999, and 65 percent compared to $13 million at June 30, 1999. The Company's backlog in the United States has increased 26 percent due primarily to increased orders of connectors for Internet related applications such as servers, routers, hubs and other telecommunication equipment. The European backlog increased 86 percent, primarily due to an increase in customer orders of smart card reader connectors used in digital satellite receivers and television set top boxes. Based on the improved incoming order activity and a higher backlog of unshipped orders, management anticipates a continuation of the Company's improved performance as Robinson Nugent enters the final quarter of the fiscal year. Net sales increased 29 percent in the quarter to $24.0 million compared to $18.7 million in the third quarter of the prior year, and increased 5 percent compared to $22.8 million in the second quarter of the year. Customer sales in the United States increased 24 percent to $13.9 million compared to $11.2 million in the third quarter of the prior year. Year- to-date customer sales in the United States increased 28 percent to $41.0 million compared to $32.0 million in the first nine months of the prior year. The Company continues to experience higher levels of incoming orders and sales activity of its higher margin backplane connectors, and its high-density, surface mount, fine pitch board-to-board interconnect systems. Both types of connectors are used in communication and networking components utilized to support the infrastructure of the Internet. Profit margins remain strong in the United States operations due to the Company's focus on this highly technical and rapidly expanding market segment. United States operations have also experienced a resurgence of growth of a number of its more mature product lines. European customer sales increased 40 percent to $7.0 million compared to $5.0 million in the third quarter of the prior year, and increased 46 percent to $18.8 million in the first nine months of the year compared to $12.8 million in the prior year. This sales growth is due primarily to an increase in customer orders and sales of next-generation, value added smart card readers with integrated printed circuits, as well as standard single and double smart card reader connectors. These connectors are currently in demand by major communication and digital satellite receiver manufacturing companies in Europe. The European management team will continue to focus its engineering and sales effort on this growing business niche. Based on the strong incoming order activity and an increase in the backlog of unshipped orders in these product categories, management anticipates a continuation of this growing sales trend in this geographic region in future quarters. Profits in Europe continue to be adversely affected by the weakening of the Euro when compared to the pound sterling and the U.S. dollar. Management will continue to pursue and utilize cost effective measures to mitigate currency rate exposure risk. Customer sales in Asia were $2.4 million in the quarter compared to $1.6 million in the third quarter of the prior year, and $6.0 million year to date compared to $4.4 million in the prior year. Gross profits continued to improve in the quarter ended March 31, 2000 amounting to $7.0 million, or 29.1 percent, compared to $4.8 million or 25.7 percent in the prior year and $6.5 million or 28.4 percent in the prior quarter. Gross profits for the nine months amounted to $19 million or 28.1 percent compared to $11.5 million or 22.5 percent in the first nine months of the prior. Gross profits are net of engineering charges associated with new product development, which amounted to $1.1 million or 4.4 percent of net sales in the current quarter compared to $0.9 million or 4.8 percent in the prior year. Year-to-date engineering charges were $3.4 million or 5.0 percent compared to $2.4 million or 4.8 percent in the prior year. It is anticipated that the higher level of research and development expenditures will continue in future quarters to support an increase in new product development in the United States and Europe. The increase in gross profits in the quarter compared to the prior year reflects product mix, overall cost reductions, improved manufacturing efficiencies, and better plant utilization. Gross profits continue to be favorably impacted by the increase in sales of newer, high- value products for high-end computer work-stations, servers, and telecommunication equipment providers. Selling, general and administrative expenses for the first nine months of the year were $13.4 million compared to $10.3 million in the prior year. Selling, general and administrative expenses of $4.9 million for the three months ended March 31, 2000 increased 36 percent compared to expenses of $3.6 million in the third quarter of the prior year. This increase was due primarily to higher sales commission expenses and operating expenses related to the new information system in Europe and the United States. The Company recorded special and unusual expenses of $0.2 million before taxes, in the quarter. These expenses include personnel costs incurred to design and implement the new information and enterprise resource planning system in North America and Europe. This system is operational for all of the Company's connector and cable assembly operations in the United States, Mexico and Europe. This system was designed and implemented to satisfy Y2K requirements, enhance management and control systems, and improve customer services and vendor communications. Other income and expense for the three months ended March 31, 2000, reflect expenses of $237,000 compared to income of $235,000 for the comparable three-month period in the prior year and expense of $859,000 compared to expense of $628,000 for the comparable nine-month period. Other income and expense reflected a currency gain in the current quarter of $12,000 compared to a currency loss of $54,000 in the third quarter of the prior year. Current and prior year-to-date results include currency losses of $256,000 and $118,000 respectively. There was a small increase in interest expense in the current quarter and year to date compared to the prior year due to increased borrowings used to fund new product development, systems to improve customer service levels and the purchase of our Scotland facility. The currency gain in the quarter was reported primarily in Asia and the United States, but were partially offset by currency losses in Europe. The provision for income taxes was provided using the appropriate effective tax rates for each of the tax jurisdictions in which the Company operates. 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 income in the quarter ended March 31, 2000 amounted to $1.2 million or 23 cents per share, compared to $508,000 or 10 cents per share in the third quarter of the prior year. These results represent the sixth consecutive quarter of increased profitability from operations. The net income for the nine months amounted to $2.9 million or 56 cents per share compared to a net loss of $770,000 or 16 cents per share in the prior year. FINANCIAL CONDITION AND LIQUIDITY Working capital at March 31, 2000 amounted to $22.9 million compared to $13.0 million at March 31, 1999 and $14.7 million at June 30, 1999. The current ratio was 2.6 to 1 at March 31, 2000 compared to 2.2 to 1 at March 31, 1999. The increase in working capital, compared to the prior year, primarily reflects a $5.9 million increase in accounts receivable and $7.2 million increase in inventory, partially offset by a $3.0 million increase in accounts payable. The increase in inventory should improve customer service levels and provide a basis for a continuation of growth in sales and profits in future periods. Long-term debt excluding current installments was $11.3 million as of March 31, 2000, and represented 41 percent of shareholders' equity at March 31, 2000, compared to $8.6 million or 38 percent of shareholders' equity at March 31, 1999. In February 2000, the Company sold its facility in New Albany, Indiana, to a limited liability company owned by two of the Company's principal shareholders for approximately $2.1 million in cash. This transaction resulted in a small gain on the sale. This facility was subsequently leased back by the Company for $220,000 per year, under a two year, triple-net lease. 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 successfully completed the implementation of its new worldwide management information system. This new information system addressed business and system processes including order management, manufacturing resource planning, finance and accounting. These systems were implemented at a total cost of approximately $7.0 million. The Company expects that this new integrated system will increase operational efficiencies and support future growth. All operations in North America, Europe and Asia have been converted to Y2K compliant systems. As of this date, the Company has not experienced any significant adverse difficulties with any of its systems, its key suppliers, vendors or customers' systems relative to Y2K. The Company has incurred costs in the current quarter and year to date of approximately $0.2 million and $1.4 million respectively. Expenditures in the current quarter is made up of $0.2 million of personnel costs that are reflected in the special and unusual expense category of the statement of operations. Funding for these expenditures was provided by operating activities, existing cash balances and borrowings available under the existing credit facilities. Expenses and capital expenditures for this project for the first nine months of the year were $0.8 million and $0.6 million respectively. DIVIDEND ACTION On April 5, 2000 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 or Form 8-K were filed during the quarter ended March 31, 2000. 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 May 1, 2000 /s/ Larry W. Burke ------------- ------------------------ Larry W. Burke President and Chief Executive Officer Date May 1, 2000 /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, 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.) 4.5 Amendment No. 3 to Rights Agreement dated February 11, 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 MARCH 31, 2000 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 9-MOS JUN-30-2000 JUL-01-1999 MAR-31-2000 1,237 0 16,979 572 17,275 37,632 60,679 43,895 54,534 14,758 0 21,443 0 0 6,045 54,534 67,713 67,713 48,714 48,714 14,153 0 651 3,987 1,097 2,890 0 0 0 2,890 .58 .56
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