-----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, IJ5Kp5PGFEKCWoUzzF5hRIBWL+fjweKHWBwPMSPCj9i+HOY1ztykoUUx/gIlnc53 b5kthebQWKZPge+HjYsW2w== 0000047307-06-000007.txt : 20060511 0000047307-06-000007.hdr.sgml : 20060511 20060511135523 ACCESSION NUMBER: 0000047307-06-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060331 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060511 DATE AS OF CHANGE: 20060511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HICKOK INC CENTRAL INDEX KEY: 0000047307 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 340288470 STATE OF INCORPORATION: OH FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-00147 FILM NUMBER: 06829291 BUSINESS ADDRESS: STREET 1: 10514 DUPONT AVE CITY: CLEVELAND STATE: OH ZIP: 44108 BUSINESS PHONE: 2165418060 MAIL ADDRESS: STREET 1: 10514 DUPONT AVE CITY: CLEVELAND STATE: OH ZIP: 44108 FORMER COMPANY: FORMER CONFORMED NAME: HICKOK ELECTRICAL INSTRUMENT CO DATE OF NAME CHANGE: 19920703 8-K 1 r8kfy06q2.htm HICKOK INC FORM 8-K FY 2006 QTR 2 Hickok 8-K
UNITED STATES
SECURITIES AND EXCHANGE  COMMISSION
WASHINGTON, DC 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)      May 11, 2006                                                  


                                                 HICKOK INCORPORATED                                                        
(Exact name of registrant as specified in its charter)


                 Ohio              
(State or other jurisdiction
of incorporation)
                  0-147                
 (Commission
 File Number)
          34-0288470      
(IRS Employer
Identification No.)


    10514 Dupont Avenue      Cleveland, Ohio                                                                                44108
    (Address of principal executive offices)                                                                             (Zip Code)


Registrant's telephone number, including area code         (216) 541-8060                                              


                                                                                                                                                                    
(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:

[  ] 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 Operation and Financial Condition
              
             On May 11, 2006,  Hickok Incorporated issued a news release announcing results for its fiscal 2006 second quarter and six months ended March 31, 2006. The news release is furnished herewith as Exhibit 99.1.

Item 9.01   Financial Statements and Exhibits
              
              99.1  News Release, dated May 11, 2006



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.


HICKOK INCORPORATED                    

By:  /s/ Robert L. Bauman                        
Robert L. Bauman                            
   President and CEO                          

Date:    May 11, 2006

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated May 11, 2006











 EX-99.1 CHARTER 2 pr_991.htm NEWS RELEASE News Release:
Exhibit 99.1
Contact: Robert L. Bauman
HICKOK INCORPORATED
10514 Dupont Avenue
Cleveland, Ohio 44108
216/541-8060
 

May 11, 2006
FOR IMMEDIATE RELEASE

HICKOK INCORPORATED REPORTS SECOND QUARTER
AND FISCAL FIRST HALF RESULTS

CLEVELAND, OH, May 11  Hickok Incorporated (OTC Bulletin Board: HICKA.OB), a Cleveland based supplier of products and services for the automotive, locomotive, and aircraft industries, today reported results for the second quarter and six months ended March 31, 2006. 

For the quarter ended March 31, 2006, the Company recorded a net loss of $105,972 or 9 cents per share, compared with net loss of $255,610 or 21 cents per share, in the same period a year ago. Sales in the second quarter were $3,613,401, up 27% from $2,842,081 a year ago.

In the first fiscal half, the Company reported a net loss of $1,469 or 0 cents per share, compared with  net loss of $739,368 or 61 cents per share, in the same period a year ago. Sales were $6,316,625 up 29%, compared to $4,906,972 in last year's first half.

Robert L. Bauman, President and CEO, said that the first half operating results were in line with Company expectations. He also stated the increase in backlog at March 2006 was due to receipt of a large order for an automotive diagnostic product for an OEM. This order is expected to increase revenues and operating results significantly for the third and fourth quarter of the current fiscal year. He further stated, our other businesses continue to show solid improvement but the Company still relies on these large orders to provide positive results. We continue to commit resources to a large emissions program for the State of California and expanding the penetration for the “large order” product with other OEMs. We are cautiously optimistic these commitments will result in revenues next fiscal year.

Backlog at March 31, 2006 was $6,585,000, an increase of 415% from the backlog of $1,586,000 a year earlier. The increase was due primarily to increased orders in automotive diagnostic products of approximately $5,200,000, specifically,  a single order for approximately $5,000,000 for a proprietary tool program to a large OEM customer and $208,000 for other OEM and aftermarket products, offset in part by a decrease in fastening systems products of approximately $115,000. The Company anticipates that most of the current backlog will be shipped in the last half of fiscal 2006.

The Company's financial position remains strong, with current assets of $8,099,908 that are 4.1 times current liabilities, and no long-term debt. Working capital at March 31, 2006 totaled $6,102,225 and shareholder's equity was $8,443,962 or $6.97 per share.

Hickok provides products and services primarily for the automotive, locomotive, and aircraft industries. Offerings include the development, manufacture and marketing of electronic and non-electronic automotive diagnostic products used for repair, emission testing, and nut-running electronic controls used in manufacturing processes. The Company also develops and manufactures indicating instruments for aircraft, locomotive and general industrial applications and provides repair training programs.

Certain statements in this news release, including discussions of management's expectations for fiscal 2006, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those anticipated as a result of risks and uncertainties which include, but are not limited to, Hickok's ability to effectively develop and market new products serving customers in the automotive aftermarket, overall market and industry conditions, the Company's ability to capitalize on market opportunities as well as the risks described from time to time in Hickok's reports as filed with the Securities and Exchange Commission.

HICKOK INCORPORATED
Consolidated Income Statement (Unaudited) 


3 MONTHS 6 MONTHS
Period ended March 31  2006 2005 2006 2005
Net sales $3,613,401 $2,842,081 $6,316,625 $4,906,972
Income (loss) before Income tax (160,472) (387,510) (2,169) (1,120,368)
Income (recovery of) taxes (54,500) (131,900) (700) (381,000)
Net income (loss) (105,972) (255,610)  (1,469) (739,368)
Basic income (loss) per share (.09) (.21) (.00) (.61)
Diluted income (loss) per share (.09) (.21) (.00) (.61)
Weighted average shares outstanding 1,211,245 1,211,246 1,211,245 1,212,169

 
 
 
 
 
 
 



















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