-----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, I22z09eedThhTaOUDR6jgN5YitxQdtjJ4zMWFvUAc/MnhrzhtdZt3x1wNgY0pH/J kykWVFIF5bksKtb4Tsz/Pw== 0000310056-07-000001.txt : 20070207 0000310056-07-000001.hdr.sgml : 20070207 20070207142206 ACCESSION NUMBER: 0000310056-07-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061231 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070207 DATE AS OF CHANGE: 20070207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VICON INDUSTRIES INC /NY/ CENTRAL INDEX KEY: 0000310056 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 112160665 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07939 FILM NUMBER: 07587456 BUSINESS ADDRESS: STREET 1: 89 ARKAY DR CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 5169522288 MAIL ADDRESS: STREET 1: 89 ARKAY DR CITY: HAUPPAUGE STATE: NY ZIP: 11788 8-K 1 f8k_020607.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 6, 2007 VICON INDUSTRIES, INC. (Exact name of registrant as specified in its charter) New York 1-7939 11-2160665 (State of Incorporation or (Commission File Number) (IRS Employer Organization) Identification No.) 89 Arkay Drive, Hauppauge, New York 11788 (Address of Principal Executive Offices) (Zip Code) (631) 952-2288 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On February 6, 2007, the Registrant issued a press release announcing its financial results for its quarter ended December 31, 2006. A copy of the press release is attached hereto as Exhibit 99.1. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits The following exhibit is furnished as part of this report: 99.1 Registrant's Press Release dated February 6, 2007 The information in this Current Report on Form 8-K, including the exhibit, is furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. 2 =============================================================================== SIGNATURE 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. Dated: February 7, 2007 VICON INDUSTRIES, INC. (Registrant) By: /s/ John M. Badke ----------------- John M. Badke Senior Vice President, Finance and Chief Financial Officer 3 ============================================================================== EXHIBIT INDEX - ------------- Exhibit Description - ------- ----------- 99.1 Registrant's press release dated February 6, 2007. EX-99 2 f8k_ex99-1.txt EXHIBIT 99.1 FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION: Vicon Industries: Joan Wolf 631/952-2288 Bliss, Gouverneur & Associates: John Bliss 212/840-1661 VICON REPORTS FIRST QUARTER RESULTS HAUPPAUGE, NY, February 6, 2007 - Vicon Industries, Inc. (Amex: VII), a leading designer and producer of video security and surveillance systems, today reported operating results for the first fiscal quarter ended December 31, 2006. The announcement was made by Chairman and CEO Ken Darby who said revenue growth worldwide powered operating results. For the first fiscal quarter net sales were $17.9 million, a 25% increase, compared with $14.3 million in the year ago period. Net income totaled $1,115,000 ($.24 per share diluted), compared with net income of $147,000 ($.03 per share) in the prior year quarter. U.S. sales increased to $9.7 million, up 32%, from $7.4 million while foreign sales totaled $8.2 million, up 19%, from $6.9 million in the year ago period. "Revenue growth was experienced across the board in all our normal markets and through our usual sales channels" said Mr. Darby. Orders for the December quarter were $17.6 million, a 39% increase, compared with $12.6 million in the year ago period. Sales were again paced by the ViconNet(TM)/Kollector (TM) range of digital products which accounted for $6.0 million or 34% of all revenues. Mr. Darby noted that other key product groups such as Vicon's Surveyor(TM) camera dome systems and Nova(TM) telemetry and switching systems also experienced significant growth over the year ago quarter. Gross margins improved to 40.3% from 39.5% due principally to the benefit of higher production to fixed overhead. Operating costs increased $573,000 principally as a result of higher selling costs of $287,000 and $178,000 of increased investment in product development. Next month, Vicon will showcase the next release of ViconNet(TM) (Version 4.0) at a major industry trade show in Las Vegas. ViconNet(TM) is a powerful software application that manages enterprise scale digital video systems. Version 4.0, which is planned for June 2007 delivery, will not only manage digital systems but also hybrid systems deploying both digital and analogue equipment. "There are advantages to each and now our customers have a choice of technology utilizing the power of ViconNet(TM)" said Mr. Darby. Also coming in fiscal 2007 are new Vicon engineered Nova(TM) telemetry and switching systems, and a new line of IP cameras called I-ONYX . There was no change in the status of the patent litigation from that reported in the June 2006 quarter. "We continue to wait for a response by the U.S. Patent and Trademark Office (PTO) to the appeal made by the plaintiff of the PTO's rejection, upon re-examination, of certain claims in their patent" said Mr. Darby. Vicon Industries, Inc. designs, engineers, produces and markets a wide range of video systems and system components used for security, surveillance, safety and communication purposes by a broad group of end users worldwide. This news release contains forward-looking statements that involve risks and uncertainties. Statements that are not historical facts, including statements about the adequacy of reserves, estimated costs, Company intentions, probabilities, beliefs, prospects and strategies and its expectations about expansion into new markets, growth in existing markets, enhanced operating margins or growth in its business, are forward-looking statements that involve risks and uncertainties. Actual results and events may differ significantly from those discussed in the forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statements. (Table of Operations Attached) Page 4 Table of Operations Vicon Industries, Inc. Condensed Statement of Operations (Unaudited) First Quarter Ended December 31, -------------------------------- 2006 2005 ---- ---- Net sales $17,883,000 $14,259,000 Gross profit 7,201,000 5,636,000 Operating income 1,146,000 153,000 Income before income taxes 1,218,000 152,000 Income tax expense 103,000 5,000 --------- --------- Net income $ 1,115,000 $ 147,000 ========= ========= Basic and diluted earnings per share $ .24 $ .03 Shares used in computing earnings per share: Basic 4,616,000 4,570,000 Diluted 4,711,000 4,663,000 -----END PRIVACY-ENHANCED MESSAGE-----