-----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, HxVH+x855EInZY2FO8O8YB1ce7/O3vcW3REuO7oCIqL140N85Wr/W2GdNVPO/4s3 SXA6gH5RG0zvcewlHVxGPA== 0000914317-04-003231.txt : 20040824 0000914317-04-003231.hdr.sgml : 20040824 20040824164900 ACCESSION NUMBER: 0000914317-04-003231 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040823 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040824 DATE AS OF CHANGE: 20040824 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ESPEY MFG & ELECTRONICS CORP CENTRAL INDEX KEY: 0000033533 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 141387171 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04383 FILM NUMBER: 04994562 BUSINESS ADDRESS: STREET 1: 233 BALLSTON AVE STREET 2: COR. CONGRESS & BALLSTON AVES. CITY: SARATOGA SPRINGS STATE: NY ZIP: 12866 BUSINESS PHONE: 5185844100 MAIL ADDRESS: STREET 1: 233 BALLSTON AVE CITY: SARATOGA SPRINGS STATE: NY ZIP: 12866 FORMER COMPANY: FORMER CONFORMED NAME: ESPEY MANUFACTURING & ELECTRONICS CORP DATE OF NAME CHANGE: 19920703 8-K 1 form8k-62550_espey.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 August 23, 2004 ------------------------------------------------------------------------------- Date of Report (Date of earliest event reported) ESPEY MFG & ELECTRONICS CORP. -------------------------------------------------------- (Exact name of registrant as specified in its charter) New York 1-4383 14-1387171 ----------------- ------------- ------------------- (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 233 Ballston Avenue, Saratoga Springs, New York 12866 ---------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code): (518) 584-4100 -------------- Item 2.02 Results of Operations and Financial Condition On August 23, 2004, Espey Mfg. & Electronics Corp. issued a press release announcing its financial results for the fiscal year ended June 30, 2004. A copy of the press release is furnished as Exhibit 99.1 to this report. The information in this report shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act), as amended, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits Exhibit No. Document - ----------- ------------ 99.1 Press Release dated August 23, 2004 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 hereunto duly authorized. ESPEY MFG. & ELECTRONICS CORP. /s/ David A. O'Neil ---------------------------------------- David A. O'Neil, Treasurer and Principal Financial Officer Dated: August 23, 2004 EX-99.1 2 exhibit99-1.txt FOR IMMEDIATE RELEASE - --------------------- Espey sets new sales record in 2004... Revenues increase by 14 % to $22.5 million. Saratoga Springs, NY, August 23, 2004- Espey Mfg. & Electronics Corp. (AMEX:ESP) announces year-end results for its fiscal twelve-months and the fourth quarter ended June 30, 2004. For the fiscal year 2003-2004, the Company reported a $2.7 million, 14% increase, in net sales over the prior fiscal year. Net sales rose to a new Company high of $22.5 million in fiscal 2004 as compared with $19.8 million in fiscal 2003. Net income was $960,826, $ .95 per basic share, for the fiscal year ended June 30, 2004, compared with a net income of $964,700, $.94 per basic share, for the fiscal year ended June 30, 2003. For the fourth quarter ended June 30, 2004, net sales grew by 29% to $5.4 million, compared with last year's fourth quarter net sales of $4.2 million. Net income for the period increased to $564,423, $ .56 per basic share, compared with a net income of $499,903, $0.49 per basic share, for the corresponding period last year. The Board of Directors is pleased to announce it has declared a cash dividend of $ .15 per share for the first quarter of fiscal 2005, payable on September 30, 2004 to all shareholders of record as at September 15, 2004. "Espey achieved a new sales record for fiscal year 2004, which represents an important milestone for our Company and another solid financial performance for our shareholders," said Mr. Howard Pinsley, Espey President and CEO. Espey's primary business is the development, design, and production of specialized military and industrial power supplies/transformers. The Company can be found on the Internet at www.espey.com. For further information, contact Mr. ------------- David O'Neil at (518) 245-4400. This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Espey Mfg. & Electronics Corp. comparative unaudited three-month and twelve-month figures for the periods ended June 30, 2004 and 2003.
Three Months Twelve Months 2004 2003 2004 2003 ------------------------------------------------------------------------ Net Sales: $ 5,423,986 4,200,093 $22,507,199 $19,773,411 Net Income: 564,423 499,903 960,826 964,700 Income per share: Basic .56 .49 .95 .94 Diluted .55 .49 .94 .94 Weighted average number of shares outstanding: Basic 1,014,020 1,019,946 1,013,663 1,025,200 Diluted 1,022,987 1,021,195 1,022,344 1,027,686
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