0000047307-12-000025.txt : 20121218 0000047307-12-000025.hdr.sgml : 20121218 20121218110916 ACCESSION NUMBER: 0000047307-12-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120930 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20121218 DATE AS OF CHANGE: 20121218 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: 121270388 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 r8kfy12q4.htm FORM 8-K 4TH QUARTER 2012 Form 8k 011312
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)      December 18, 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 December 18, 2012, Hickok Incorporated issued a news release announcing results for the fourth quarter and its fiscal year ended September 30, 2012. The news release is furnished herewith as Exhibit 99.1.

Item 9.01    Financial Statements and Exhibits
     
            99.1 News Release, dated December 18, 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                    

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

Date:    December 18, 2012

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated December 18, 2012



 EX-99 2 pr991.htm EXHIBIT 99.1 NEWS RELEASE 4TH QUARTER 2012 News Release:
Exhibit 99.1

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


December 18, 2012
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS FOURTH QUARTER
AND FISCAL 2012 OPERATING RESULTS

CLEVELAND, OH, December 18 Hickok Incorporated (OTC QB: HICKA.PK), a Cleveland based supplier of products and services for automotive, emissions testing,  locomotive, and aircraft industries, today reported operating results for the fourth quarter and the fiscal year ended September 30, 2012.

For the quarter ended September 30, 2012, the Company recorded a net loss of $205,070 or $.14 per share, compared with a net loss of $14,923 or $.02 per share, in the same period a year ago. Sales in the fourth quarter were $1,129,447, down 17% from $1,366,530 a year ago.

For the 2012 fiscal year the Company reported a net loss of $783,966 or $.57 per share, compared with a net loss of $672,535 or $.54 per share, in the same prior year period. Sales were $4,761,289, down 6% compared to $5,068,613 a year ago.

Robert L. Bauman, President and CEO, said, "Operating results for the fourth quarter and the fiscal year were disappointing. Several unexpected market factors hurt our results in what was expected to be a better year, however a large order for a OEM dealer service unit awarded in October will bolster the first and second quarter of fiscal 2013." He also said, "We believe the market factors that hurt fiscal 2012 are behind us and we are optimistic the strategy we have been executing is working and we expect a significant improvement in 2013 results."

Backlog at September 30, 2012 was $707,000, an increase of 19% from the backlog of $593,000 a year earlier. The  increase was due primarily to increased orders for indicators and gauges of $147,000. In addition, automotive diagnostic products orders to OEM's increased by approximately $69,000 offset by a decrease of $35,000 for non-emission aftermarket products and $67,000 for emission products.

At September 30, 2012, the Company had current assets of $2,823,971 (3.2 times current liabilities), and working capital of  $1,935,875. These compare to September 30, 2011 current assets of $3,016,871 (5.3 times current liabilities), and working capital of $2,447,080. At September 30, 2012 shareholder's equity was $2,317,875 or $1.52 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 2013, 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


 3 MONTHS 12 MONTHS
Period ended September 30 2012
 2011
 2012
 2011
Net sales
 $1,129,447
 $1,366,530
 $4,761,289
 $5,068,613
Income (loss) before Income tax
 (205,070)
 (14,923)
 (783,966)
 (672,535)
Income (recovery of) taxes
 -0-
 -0-
 -0-
 -0-
Net income (loss)
 (205,070)
 (14,923)
 (783,966)
 (672,535)





Basic income (loss) per share
 (.14)
 (.02)
 (.57)
 (.54)
Diluted income (loss) per share (.14)
 (.02)
 (.57)
 (.54)





Weighted average shares outstanding
 1,451,884
 1,248,095
 1,372,812
 1,248,095