-----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, OFL37pJPQuUBW//BeU0vImPkf2Vdl2ZmB1O6MSoTX4insRFS1KsNc0n1d7kz5s1t cNJHW/bxa5NZBAhaiICsUQ== 0000047307-10-000006.txt : 20100813 0000047307-10-000006.hdr.sgml : 20100813 20100813134721 ACCESSION NUMBER: 0000047307-10-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100630 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100813 DATE AS OF CHANGE: 20100813 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: 101014494 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 r8kfy10q3.htm HICKOK INC FORM 8-K FY 2010 QTR 3 Hickok 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)      August 13, 2010                                                  


                                                 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 August 13, 2010,  Hickok Incorporated issued a news release announcing results for its fiscal 2010 third quarter and nine months ended June 30, 2010. The news release is furnished herewith as Exhibit 99.1.

Item 9.01   Financial Statements and Exhibits.
              
              99.1  News Release, dated August 13, 2010



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 13, 2010

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated August 13, 2010















 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 13, 2010
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS THIRD QUARTER
AND NINE MONTH RESULTS

CLEVELAND, OH, August 13 Hickok Incorporated (OTC Bulletin Board: HICKA.OB), a Cleveland based supplier of products and services for the automotive, emissions testing, locomotive, and aircraft industries, today reported operating results for the third quarter and nine months ended June 30, 2010.

For the quarter ended June 30, 2010, the Company recorded a net loss of $151,479 or 12 cents per share, compared with  a net loss of $234,861 or 19 cents per share, in the same period a year ago. Sales in the third quarter were $1,390,355, down 9% from $1,521,033 a year ago. The loss reduction was due primarily to the continuation of cost cutting measures implemented in fiscal 2009.

In the first nine months, the Company reported a net loss of $422,312 or 34 cents per share, compared with a net loss of $3,625,467 or $2.90 per share, in the same period a year ago. Sales were $4,421,132, up 10%, compared to $4,015,152 a year ago. The current year benefited primarily from the continuation of cost cutting measures implemented in fiscal 2009. The prior year nine month results benefited from the cost cutting measures implemented in January and May 2009 offset by a valuation allowance of $1,845,200 recorded against the deferred tax assets.

Robert L. Bauman, President and CEO, said "The third quarter and first nine months operating results are a significant improvement over the past couple years even though our markets are still depressed. Because of the cost cutting measures we implemented in fiscal 2009 we have been able to survive.” He further stated, “Our markets seem to have stabilized and we have recently introduced several exciting new products that we expect to contribute to revenues in the late fourth quarter and next fiscal year.”

Backlog at June 30, 2010 was $256,000, a decrease of 82% from the backlog of $1,450,000 a year earlier. The decrease was due primarily to decreased orders in automotive diagnostic products of $1,151,000, specifically, $1,131,000 for emissions products and $20,000 for non-emission aftermarket products. In addition, indicators and gauges decreased by approximately $43,000. The prior year backlog included an order for an emissions program in the State of New Jersey of approximately $1,100,000 with no similar order during the current year. The Company estimates that approximately 70% of the current backlog will be shipped in the last quarter of fiscal 2010.

The Company's financial position remains strong, with current assets of $3,831,080 that are 6.9 times current liabilities, and no long-term debt. Working capital at June 30, 2010 totaled $3,273,882 and shareholder's equity was $3,803,893 or $3.05 per share.

Hickok provides products and services primarily for 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 and emission testing. 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 2010, 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, the Company's ability to obtain cost effective financing 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
2010
 2009
 2010
 2009
Net sales
 $1,390,355
 $1,521,033
 $4,421,132
 $4,015,152
Income (loss) before Income tax
 (151,479)
 (234,861)
 (422,312)
 (1,780,267)
Income (recovery of) taxes
 -0-
 -0-
 -0-
 1,845,200
Net income (loss)
 (151,479)
 (234,861)
 (422,312)
 (3,625,467)





Basic income (loss) per share (.12)
 (.19)
 (.34)
 (2.90)
Diluted income (loss) per share
 (.12)
 (.19)
 (.34)
 (2.90)





Weighted average shares outstanding
 1,248,095
 1,248,095
 1,248,095
 1,248,095




































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