(State of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of Principal Executive Offices) | (Zip Code) |
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)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Exhibit No. | Description | Method of Filing | ||||||||||||
Press Release, dated October 21, 2020, announcing financial results of Hawkins, Inc. for its fiscal 2021 second quarter ended September 27, 2020. | Filed Electronically | |||||||||||||
104 | Cover Page Interactive Data File (embedded within the inline XBRL document) | Filed Electronically |
HAWKINS, INC. | ||||||||||||||
Date: October 21, 2020 | By: | /s/ Jeffrey P. Oldenkamp | ||||||||||||
Jeffrey P. Oldenkamp | ||||||||||||||
Vice President, Chief Financial Officer, and Treasurer |
Exhibit 99.1 | |||||||||||
FOR IMMEDIATE RELEASE | Contacts: | Jeffrey P. Oldenkamp | |||||||||
October 21, 2020 | Chief Financial Officer | ||||||||||
Hawkins, Inc. | 612/331-6910 | ||||||||||
2381 Rosegate | Jeff.Oldenkamp@HawkinsInc.com | ||||||||||
Roseville, MN 55113 | |||||||||||
Adjusted EBITDA | Three Months Ended | Six months ended | |||||||||||||||||||||
(In thousands) | September 27, 2020 | September 29, 2019 | September 27, 2020 | September 29, 2019 | |||||||||||||||||||
Net Income (GAAP) | $ | 12,190 | $ | 9,250 | $ | 23,978 | $ | 19,057 | |||||||||||||||
Interest expense, net | 339 | 666 | 719 | 1,429 | |||||||||||||||||||
Income tax expense | 4,374 | 3,287 | 8,621 | 6,795 | |||||||||||||||||||
Amortization of intangibles | 1,447 | 1,269 | 2,715 | 2,537 | |||||||||||||||||||
Depreciation expense | 4,134 | 4,117 | 8,350 | 8,202 | |||||||||||||||||||
Non-cash compensation expense | 686 | 636 | 1,386 | 1,145 | |||||||||||||||||||
Non-recurring acquisition expenses | 265 | — | 265 | — | |||||||||||||||||||
Adjusted EBITDA | $ | 23,435 | $ | 19,225 | $ | 46,034 | $ | 39,165 |
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
September 27, 2020 | September 29, 2019 | September 27, 2020 | September 29, 2019 | |||||||||||||||||||||||
Sales | $ | 147,801 | $ | 140,043 | $ | 290,973 | $ | 287,379 | ||||||||||||||||||
Cost of sales | (115,004) | (112,049) | (227,200) | (230,588) | ||||||||||||||||||||||
Gross profit | 32,797 | 27,994 | 63,773 | 56,791 | ||||||||||||||||||||||
Selling, general and administrative expenses | (16,221) | (14,817) | (31,259) | (29,653) | ||||||||||||||||||||||
Operating income | 16,576 | 13,177 | 32,514 | 27,138 | ||||||||||||||||||||||
Interest expense, net | (339) | (666) | (719) | (1,429) | ||||||||||||||||||||||
Other income | 327 | 26 | 804 | 143 | ||||||||||||||||||||||
Income before income taxes | 16,564 | 12,537 | 32,599 | 25,852 | ||||||||||||||||||||||
Income tax expense | (4,374) | (3,287) | (8,621) | (6,795) | ||||||||||||||||||||||
Net income | $ | 12,190 | $ | 9,250 | $ | 23,978 | $ | 19,057 | ||||||||||||||||||
Weighted average number of shares outstanding - basic | 10,527,891 | 10,575,538 | 10,526,511 | 10,589,922 | ||||||||||||||||||||||
Weighted average number of shares outstanding - diluted | 10,622,881 | 10,633,117 | 10,634,281 | 10,663,864 | ||||||||||||||||||||||
Basic earnings per share | $ | 1.16 | $ | 0.87 | $ | 2.28 | $ | 1.80 | ||||||||||||||||||
Diluted earnings per share | $ | 1.15 | $ | 0.87 | $ | 2.25 | $ | 1.79 | ||||||||||||||||||
Cash dividends declared per common share | $ | 0.2325 | $ | 0.23 | $ | 0.465 | $ | 0.46 |
Cover |
Oct. 21, 2020 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Oct. 21, 2020 |
Entity Registrant Name | Hawkins, Inc. |
Entity Incorporation, State or Country Code | MN |
Entity File Number | 0-7647 |
Entity Tax Identification Number | 41-0771293 |
Entity Address, Address Line One | 2381 Rosegate, |
Entity Address, City or Town | Roseville, |
Entity Address, State or Province | MN |
Entity Address, Postal Zip Code | 55113 |
City Area Code | 612 |
Local Phone Number | 331-6910 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, par value $.05 per share |
Trading Symbol | HWKN |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0000046250 |
Amendment Flag | false |
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