-----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, B0Hbno0MQBELuj/AbdVqUba0Gpe08WfIsnfP5EnLtN1FSnbSCcAC7P24Nmboxkm2 otmKB3OOgOAIDT/UwgaTwA== 0001104659-10-034380.txt : 20100617 0001104659-10-034380.hdr.sgml : 20100617 20100617162755 ACCESSION NUMBER: 0001104659-10-034380 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100616 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100617 DATE AS OF CHANGE: 20100617 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARDINGE INC CENTRAL INDEX KEY: 0000313716 STANDARD INDUSTRIAL CLASSIFICATION: MACHINE TOOLS, METAL CUTTING TYPES [3541] IRS NUMBER: 160470200 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34639 FILM NUMBER: 10903477 BUSINESS ADDRESS: STREET 1: ONE HARDING DRIVE CITY: ELMIRA STATE: NY ZIP: 14902 BUSINESS PHONE: 6077342281 MAIL ADDRESS: STREET 1: ONE HARDINGE DRIVE CITY: ELMIRA STATE: NY ZIP: 14902 FORMER COMPANY: FORMER CONFORMED NAME: HARDINGE BROTHERS INC DATE OF NAME CHANGE: 19920703 8-K 1 a10-10531_38k.htm 8-K

 

 

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): June 16, 2010

 

Hardinge Inc.

(Exact name of Registrant as specified in its charter)

 

New York

 

000-15760

 

16-0470200

(State or other jurisdiction of

 

Commission file number

 

(I.R.S. Employer

incorporation or organization)

 

 

 

Identification No.)

 

One Hardinge Drive Elmira, NY 14902

(Address of principal executive offices)  (Zip code)

 

(607) 734-2281

(Registrant’s telephone number including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

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:

 

o            Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 8.01  Other Events

 

On June 16, 2010 Hardinge Inc. (“Company”) issued a press release announcing that the Company had revised its guidance on orders for the quarter ending June 30, 2010. The Company is now forecasting second quarter order volume of more than $80 million. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01  Financial Statements and Exhibits

 

99.1   Press release issued by registrant on June 16, 2010.

 

2



 

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.

 

 

Hardinge Inc.

 

 

 

 

 

 

Date:

By:

/s/ Edward J. Gaio

June 17, 2010

Edward J. Gaio

 

Vice President and Chief Financial Officer

 

3


 

EX-99.1 2 a10-10531_3ex99d1.htm EX-99.1

EXHIBIT 99.1

 

GRAPHIC

 

Hardinge Inc.

 

Contact:

One Hardinge Drive

 

Edward Gaio

Elmira, N.Y. 14902

 

Vice President and CFO

 

 

(607) 378-4207

 

Hardinge Inc. Increases Order Guidance for Second Quarter 2010

 

ELMIRA, N.Y. — June 16, 2010Hardinge Inc. (NASDAQ: HDNG), a leading international provider of advanced metal-cutting solutions, today announced revised order guidance for the quarter ending June 30, 2010. The Company previously provided order guidance of $60 million - $65 million.  The Company is now forecasting second quarter order volume of more than $80 million.

 

During the second quarter, Hardinge has received approximately $23 million in orders from the China-based consumer electronics company mentioned in the Company’s first quarter earnings press release.  The total second quarter orders from this customer are approximately $10 million above earlier projections.

 

“Broad based order activity in Asia and the U.S. is contributing to the more positive outlook for the quarter,” said Richard L. Simons, President and Chief Executive Officer.  “While margins on the large order will be below traditional margins because of the highly competitive environment that still exists for machine tools, landing this order demonstrates the strength of Hardinge’s reputation in the Asian markets, as well as the Company’s ability to design and deliver special purpose machine solutions for demanding industries.  We expect the sales revenue from this order will be recognized over the last three quarters of this year.”

 

Second quarter sales are expected to be approximately $55 million, slightly below previous guidance, reflecting ongoing delivery difficulties within the machine tool industry supply chain which is struggling to respond to the sudden and extraordinary demand growth in the Asian markets.  Hardinge’s EBITDA (earnings before interest, taxes and depreciation), excluding the costs of advisory fees related to Industrias Romi S.A.’s unsolicited tender offer, is still forecasted to be at or near breakeven for the second quarter.

 

Hardinge plans to release its complete second quarter results and hold its quarterly investor conference call on August 6, 2010.

 

-MORE-

 



 

Hardinge is a global designer, manufacturer and distributor of machine tools, specializing in SUPER PRECISION™ and precision CNC Lathes, high performance Machining Centers, high-end cylindrical and jig Grinding Machines, and technologically advanced Workholding & Rotary Products. The Company’s products are distributed to most of the industrialized markets around the world with approximately 70% of the 2009 sales outside of North America. Hardinge has a very diverse international customer base and serves a wide variety of end-user markets. This customer base includes metalworking manufacturers which make parts for a variety of industries, as well as a wide range of end users in the aerospace, agricultural, transportation, basic consumer goods, communications and electronics, construction, defense, energy, pharmaceutical and medical equipment, and recreation industries, among others.. The Company has manufacturing operations in the United States, Switzerland, Taiwan, and China. Hardinge’s common stock trades on NASDAQ Global Select Market under the symbol, “HDNG.” For more information, please visit http://www.hardinge.com.

 

This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management’s current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as “may,” “will,” “should,” “estimates,” “predicts,” “potential,” “continue,” “strategy,” “believes,” “anticipates,” “plans,” “expects,” “intends,” and similar expressions are intended to identify forward-looking statements. The company’s actual results or outcomes and the timing of certai n events may differ significantly from those discussed in any forward-looking statements. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise

 


 

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