0000047307-12-000006.txt : 20120214 0000047307-12-000006.hdr.sgml : 20120214 20120214131512 ACCESSION NUMBER: 0000047307-12-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111231 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 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: 12606999 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 r8ky12q1.htm FORM 8-K QTR ENDED DEC 31 2011 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 14, 2012                                                  


                                                 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 14, 2012, Hickok Incorporated issued a news release announcing results for its fiscal 2012 first quarter ended December 31, 2011. The news release is furnished herewith as Exhibit 99.1.

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

    (b)          

Mr. William A. Bruner, Senior Vice President, Manufacturing Operations retired from Hickok Incorporated effective January 31, 2012.

Item 9.01    Financial Statements and Exhibits.
     
            99.1 News Release, dated February 14, 2012


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                    


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

Date:    February 14, 2012

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated February 14, 2012




















 EX-99 2 prfy12q1.htm EXHIBIT 99.1 NEWS RELEASE DEC 31 2011 News Release:

Exhibit 99.1

Contact:

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




February 14, 2012
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS FIRST QUARTER
OPERATING RESULTS

CLEVELAND, OH, February 14 Hickok Incorporated (OTC Bulletin Board: HICKA.QB), a Cleveland based supplier of products and services for automotive, emissions testing, locomotive, and aircraft industries, today reported operating results for its fiscal 2012 first quarter ended December 31, 2011.

For the quarter ended December 31, 2011, the Company recorded a net loss of $183,140 or 15 cents per share, compared with a net loss of $317,982 or 25 cents per share, in the same period a year ago. Sales in the first quarter were $1,181,501, up 6% from $1,112,643 a year ago.

Robert L. Bauman, President and CEO, said, “The Company’s first quarter results are a significant improvement compared to the first quarter of fiscal 2011 and are due to the higher sales volume and the additional cost reductions implemented in fiscal 2011." He went on to say, “ Because we were able to conclude additional financing at the end of the first quarter we are going to accelerate product development and promotional activities with the strategic plan we have been implementing for the past year. We expect those efforts to result in revenue and profitability improvements in spite of our markets continuing to be severely depressed. We are also looking forward to using the additional financing to expand our markets when the right opportunity presents itself.”

Backlog at December 31, 2011 was $659,000, an increase from the backlog of $435,000 a year earlier. The increase was due primarily to increased orders for indicator products and diagnostic products to OEM's of $298,000 and $58,000 respectively. Aftermarket products which include emissions products decreased by approximately $132,000. The Company anticipates that most of the current backlog will be shipped in fiscal 2012.

The Company's current assets at December 31, 2011 of $3,318,007 are 3.3 times current liabilities and working capital is $2,306,513. These compare to December 31, 2010 current assets of $2,959,318 that were 5.9 times current liabilities and working capital of $2,457,024.  At December 31, 2011 shareholder's equity was $2,710,972 or $1.94 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 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 2012, 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

Period ended December 31

2011

2010

Net sales

$1,181,501

$1,112,643

Income (loss) before Income tax

(183,140)

(317,982)

Income (recovery of) taxes

-

-

Net income (loss)

(183,140)

(317,982)




Basic income (loss) per share

(.15)

(.25)

Diluted income (loss) per share

(.15)

(.25)




Weighted average shares outstanding

1,251,273

1,248,095