-----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, MzRh2ev07+ly9w9/IPMoVifIv0hUCLt7KqtaaiYU5Gn7KUnuJkw2gwg+ne5eEvew Rkgk5V1M3tZkk6ZmPEvwxw== 0000047307-08-000002.txt : 20080211 0000047307-08-000002.hdr.sgml : 20080211 20080211152844 ACCESSION NUMBER: 0000047307-08-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080211 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080211 DATE AS OF CHANGE: 20080211 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: 08593260 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 r8ky08q1.htm HICKOK INC FORM 8-K FY 2008 QTR 1 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)      February 11, 2008                                                  


                                                 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 Operations and Financial Condition

            On February 11, 2008, Hickok Incorporated issued a news release announcing results for its fiscal 2008 first quarter ended December 31, 2007. The news release is furnished herewith as Exhibit 99.1.

Item 9.01    Financial Statements and Exhibits
     
            99.1 News Release, dated February 11, 2008


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:    February 11, 2008

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated February 11, 2008




















 EX-99.1 CHARTER 2 prfy08q1.htm PRESS RELEASE 8-K News Release:
Exhibit 99.1

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


February 11, 2008
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS FIRST QUARTER
OPERATING RESULTS

CLEVELAND, OH, February 11 Hickok Incorporated (OTC Bulletin Board: HICKA.OB), a Cleveland based supplier of products and services for automotive, emissions testing, locomotive, and aircraft industries, today reported operating results for its fiscal 2008 first quarter ended December 31, 2007.

For the quarter ended December 31, 2007, the Company recorded net income of $1,108,889 or 90 cents per share, compared with a net loss of $390,744 or 32 cents per share, in the same period a year ago. Sales in the first quarter were $7,241,412, up 230% from $2,191,630 a year ago.

Robert L. Bauman, President and CEO said the first quarter results were unusually strong due to shipments of equipment to customers participating in the California Evaporative Emissions Testing Program that the state implemented December 1, 2007. Although the program is largely behind us we are hopeful that the success of the program will encourage other states to consider such programs, he said. He also said that automotive aftermarket sales were weak in the quarter and that he expects the weakness to continue in the second quarter, however, the Company expects the market to get stronger as the year progresses. He added that a project for testing diesel engine fuel injectors is progressing well and the Company believes it will result in substantial orders later this year.

Backlog at December 31, 2007 was $885,000 a slight increase from the backlog of $880,000 a year earlier. The increase was due primarily to increased orders for automotive diagnostic products to automotive OEM's and aftermarket products which include emissions products of $17,000 and $67,000 respectively. These increases were offset in part by a decrease in indicator products of approximately $79,000. These lower levels of backlog are more typical for the Company versus the large backlog level at September 30, 2007 of $5,756,000. The Company anticipates that most of the current backlog will be shipped in fiscal 2008.

The Company's financial position remains strong, with current assets of $8,718,219 that are 10.1 times current liabilities, and no long-term debt, and working capital of  $7,856,399.  At December 31, 2007 shareholder's equity was $9,667,613 or $7.82 per share.

Hickok provides products and services primarily for the automotive, emissions testing,  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 2008, 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
Period ended December 31
2007
 2006
Net sales
 $7,241,412
 $2,191,630
Income (loss) before Income tax
 1,753,889
 (568,881)
Income (recovery of) taxes
 645,000
 (193,000)
Income (loss) before cumulative effect  of
change in accounting principle, net of tax
 1,108,889
 (375,881)
Cumulative effect of change in accounting  for
stock based compensation, net of tax of $8,000
 -
 14,863
Net income (loss)
 1,108,889
 (390,744)



Basic income (loss) per share before cumulative effect of accounting change
 .90
 (.31)
Basic income (loss) per share
 .90
 (.32)
Diluted income (loss) per share before
cumulative effect of accounting change
 .85
 (.31)
Diluted income (loss) per share
 .85
 (.32)



Weighted average shares outstanding
 1,226,437
 1,211,245


















































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