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): April 25, 2007

BOLT TECHNOLOGY CORPORATION

(Exact name of registrant as specified in its charter)

Connecticut	0-10723	06-0773922
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Four Duke Place, Norwalk, Connecticut	06854
(Address of principal executive office)	(Zip Code)

Registrant’s telephone number, including area code (203) 853-0700

Not applicable

(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 (see General Instruction A.2. below):

¨ Written communication 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))

Section 2—Financial Information

Item 2.02. Results of Operations and Financial Condition.

On April 25, 2007, Bolt Technology Corporation (the “Company”) issued a press release announcing the Company’s results of operations for the third quarter and the first nine months of fiscal year 2007. A copy of this press release is furnished with this report as Exhibit 99.1 and shall be deemed provided under this Item 2.02 of Form 8-K.

The information in this report, including the exhibit attached hereto, is being furnished solely pursuant to Item 2.02 of this Form 8-K. Consequently, it shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (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 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Section 9—Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibit is furnished pursuant to Item 2.02.

Exhibit No.	Description
99.1	Press release issued April 25, 2007.

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.

BOLT TECHNOLOGY CORPORATION
By:	/s/ Raymond M. Soto
	Raymond M. Soto
	(Chairman of the Board, President and Chief Executive Officer)

Dated: April 25, 2007

Exhibit Index

Exhibit No.	Description
99.1	Press release issued April 25, 2007.

EX-99.1

Exhibit 99.1

EARNINGS RELEASE

For Immediate Release

Contact: Joseph Espeso (203) 853-0700

BOLT TECHNOLOGY REPORTS THIRD QUARTER RESULTS;

RECORD SALES AND EARNINGS CONTINUE FOR THE FIFTH CONSECUTIVE QUARTER.

NORWALK, CT., April 25, 2007 – Bolt Technology Corporation (AMEX:BTJ) today announced financial results for the third quarter and the first nine months of fiscal year 2007.

Sales for the third quarter of fiscal 2007, the three months ended March 31, 2007, increased 51% to $12,728,000 compared to $8,418,000 in last year’s third quarter and net income for the quarter increased 118% to $2,845,000 or $0.50 per diluted share, compared to $1,307,000 or $0.23 per diluted share in last year’s third quarter.

For the nine months ended March 31, 2007, sales increased 52% to $34,996,000 compared to $22,979,000 last year. Net income for the nine months ended March 31, 2007 increased 124% to $7,217,000 or $1.27 per diluted share, compared to $3,224,000 or $0.57 per diluted share last year.

Raymond M. Soto, Bolt’s Chairman, President and CEO, commented, “We are pleased to report that the financial results for the third quarter and the first nine months of fiscal 2007 represent record quarterly and nine month levels for our company. The third quarter results are also the fifth consecutive quarter of record sales and income. During the quarter, sales in our geophysical segment increased 54% and sales in our industrial products segment increased 23% as compared to last year’s third quarter. Based on recent order activity, requests for quotations and indications from our major customers, we believe that the strong levels of business we have experienced during the first three quarters of fiscal 2007 will continue in our fourth quarter.”

Bolt Technology Corporation is a leading worldwide developer and manufacturer of seismic energy sources and underwater connectors used in the offshore seismic exploration for oil and gas. Bolt also designs, manufactures and sells precision miniature industrial clutches, brakes and electric motors.

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words

“estimate,” “project,” “anticipate,” “expect,” “predict,” “believe,” and similar expressions are intended to identify forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, risks associated with decreased demand for the Company’s products due to fluctuation in energy industry activity, reliance on certain significant customers, significant amount of foreign sales and other risks detailed in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements involve a number of risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated.

BOLT TECHNOLOGY CORPORATION

Condensed Consolidated Statements of Operations (Unaudited)

	Three Months Ended March 31,				Nine Months Ended March 31,
	2007		2006		2007		2006
Sales	$	12,728,000	$	8,418,000	$	34,996,000	$	22,979,000
Costs and expenses		8,555,000		6,456,000		24,346,000		18,030,000
Income before income taxes		4,173,000		1,962,000		10,650,000		4,949,000
Provision for income taxes		1,328,000		655,000		3,433,000		1,725,000
Net income	$	2,845,000	$	1,307,000	$	7,217,000	$	3,224,000
Diluted earnings per share	$	0.50	$	0.23	$	1.27	$	0.57
Average diluted shares outstanding		5,688,000		5,621,000		5,680,000		5,619,000

BOLT TECHNOLOGY CORPORATION

Condensed Consolidated Balance Sheets (Unaudited)

	March 31,
	2007		2006
Assets
Current Assets
Cash and cash equivalents	$	6,229,000	$	4,211,000
Accounts receivable, net		10,022,000		6,897,000
Inventories		11,667,000		7,296,000
Other		503,000		422,000
		28,421,000		18,826,000
Property and Equipment		3,100,000		1,913,000
Goodwill		10,967,000		11,010,000
Other		130,000		107,000
	$	42,618,000	$	31,856,000
	March 31,
	2007		2006
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts payable	$	3,178,000	$	2,924,000
Accrued expenses		2,249,000		1,052,000
Income taxes payable		728,000		898,000
Customer deposits		253,000		—
Deferred Income Taxes		6,408,000 512,000		4,874,000 414,000
Total liabilities		6,920,000		5,288,000
Stockholders’ Equity		35,698,000		26,568,000
	$	42,618,000	$	31,856,000

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