-----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, B8pKTrt2+4g3TRDmtmMDQ60bsb5WaU+OHkp4Au3eW+KoSbwtzadLF8y/7NF8xfNP AR4bru5wns/FVmliy5U7ZA== 0000047307-06-000009.txt : 20060814 0000047307-06-000009.hdr.sgml : 20060814 20060814132957 ACCESSION NUMBER: 0000047307-06-000009 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060630 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060814 DATE AS OF CHANGE: 20060814 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: 061028626 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 r8kfy06q3.htm HICKOK INC FORM 8-K FY2006 QTR03 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)      August 14, 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 August 14, 2006,  Hickok Incorporated issued a news release announcing results for its fiscal 2006 third quarter and nine months ended June 30, 2006. The news release is furnished herewith as Exhibit 99.1.

Item 9.01   Financial Statements and Exhibits
              
              99.1  News Release, dated August 14, 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:    August 14, 2006


EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated August 14, 2006















EX-99.1 CHARTER 2 pr991.htm PRESS RELEASE News Release:
Exhibit 99.1

Contact:
Robert L. Bauman
HICKOK INCORPORATED
10514 Dupont Avenue
Cleveland, Ohio 44108
216/541-8060



August 14, 2006
FOR IMMEDIATE RELEASE



HICKOK INCORPORATED REPORTS THIRD QUARTER

AND NINE MONTH RESULTS

CLEVELAND, OH, August 14 Hickok Incorporated (OTC Bulletin Board: HICKA.OB), a Cleveland based supplier of products and services for automotive, locomotive, and aircraft industries, today reported results for the third quarter and nine months ended June 30, 2006.

For the quarter ended June 30, 2006, the Company recorded net income of $293,975 or 24 cents per share, compared with a net loss of $342,537 or 28 cents per share, in the same period a year ago. Sales in the third quarter were $4,221,159, up 53% from $2,761,122 a year ago.

In the first nine months, the Company reported net income of $292,506 or 24 cents per share, compared with a net loss of $1,081,905 or 89 cents per share, in the same period a year ago. Sales were $10,537,784, up 37%, compared to $7,668,094 a year ago.

Robert L. Bauman, President and CEO, said that the improved operating results were a result of higher sales of automotive diagnostic equipment. The increase was primarily the result of initial shipments of a large order for a proprietary diagnostic product to the dealership network of a major vehicle OEM. He also stated that the remaining backlog relating to the order would increase revenues and operating results in the fourth quarter significantly.  He further stated, the Company is optimistic that the product would find application in other OEMs and markets. He cautioned that while the Company's other businesses continue to show some improvement the Company continues to rely on large orders to provide positive operating results. He then went on to say that the Company continues to invest in a large emissions program with the State of California that could contribute significantly to fiscal 2007 revenues and operating results.

Backlog at June 30, 2006 was $4,746,000 an increase of 454% from the backlog of $1,046,000 a year earlier. The increase was due primarily to increased orders in automotive diagnostic products of $3,562,000, specifically, $3,857,000 for large OEM customers, offset in part by decreases of approximately $31,000 for  non-emission aftermarket products, $148,000 for emission products and $116,000 for fastening products. Also contributing to the increase was $132,000 for indicators and gauges. The Company estimates that approximately 95% of the current backlog will be shipped in the last quarter of  fiscal 2006.

The Company's financial position remains strong, with current assets of $9,227,149 that are 3.4 times current liabilities, and no long-term debt. Working capital at June 30, 2006 totaled $6,546,727 and shareholder's equity was $8,726,277 or $7.20 per share.

Hickok provides products and services primarily for 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.

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 9 MONTHS
Period ended June 30
2006
2005
2006
2005
Net sales
$4,221,159
$2,761,122
$10,537,784
$7,668,094
Income (loss) before Income tax
445,475
(519,537)
443,306
(1,639,905)
Income (recovery of) taxes
151,500
(177,000)
150,800
(558,000)
Net income (loss)
293,975
(342,537)
292,506
(1,081,905)





Basic income (loss) per share
.24
(.28)
.24
(.89)
Diluted income (loss) per share
.24
(.28)
.24
(.89)





Weighted average shares outstanding
1,211,245
1,211,245
1,211,245
1,211,757
































-----END PRIVACY-ENHANCED MESSAGE-----