0000047307-13-000010.txt : 20130813 0000047307-13-000010.hdr.sgml : 20130813 20130813135957 ACCESSION NUMBER: 0000047307-13-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130630 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130813 DATE AS OF CHANGE: 20130813 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: 131032505 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 r8kfy13q3.htm FORM 8-K 3RD QUARTER 2013 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, 2013                                                  


                                                 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, 2013,  Hickok Incorporated issued a news release announcing results for its fiscal 2013 third quarter and nine months ended June 30, 2013. The news release is furnished herewith as Exhibit 99.1.

Item 9.01   Financial Statements and Exhibits.
              
              99.1  News Release, dated August 13, 2013



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, 2013

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated August 13, 2013















 EX-99 2 pr991.htm EXHIBIT 99.1 NEWS RELEASE 3RD QUARTER 2013 News Release:
Exhibit 99.1

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


August 13, 2013
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS THIRD QUARTER
AND NINE MONTH RESULTS

CLEVELAND, OH, August 13 Hickok Incorporated (OTC QB: HICKA.PK), 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, 2013.

For the quarter ended June 30, 2013, the Company recorded a net loss of $133,777 or 8 cents per share, compared with a net loss of $170,975 or 12 cents per share, in the same period a year ago. Sales in the third quarter were $1,339,931, compared with $1,271,803 a year ago.

In the first nine months, the Company reported net income of $129,458 or 8 cents per share, compared with a net loss of $578,896 or 43 cents per share, in the same period a year ago. Sales were $5,043,172, up 39%, compared to $3,631,842 a year ago.

Robert L. Bauman, President and CEO, said, "Third quarter revenues were improved over last years third quarter and the nine month revenues and results were vastly improved over last year. Several newly introduced products have been well received by our customers and our markets seem to be improving.”

Backlog at June 30, 2013 was $652,000, an increase of 14% from the backlog of $574,000 a year earlier. The increase was due to increased orders in automotive diagnostic products of $23,000, specifically, $82,000 for emissions products offset in part by a decrease of $59,000 for OEM products. In addition, indicators and gauges increased by approximately $55,000. The Company estimates that approximately 83% of the current backlog will be shipped in the last quarter of fiscal 2013.

The Company's current assets at June 30, 2013 of  $3,126,016 are 4.3 times current liabilities, there is no long-term debt and working capital is $2,396,782. These compare to June 30, 2012 current assets of $2,853,421 that were 3.1 times current liabilities, no long-term debt and working capital of $1,923,219. At June 30, 2013 shareholder's equity was $2,714,506 or $1.66 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 (Unaudited)


 3 MONTHS 9 MONTHS
Period ended June 30
2013
 2012
 2013
 2012
Net sales
 $1,339,931
 $1,271,803
 $5,043,172
 $3,631,842
Income (loss) before Income tax
 (133,777)
 (170,975)
 129,458
 (578,896)
Income (recovery of) taxes
 -0-
 -0-
 -0-
 -0-
Net income (loss)
 (133,777)
 (170,975)
 129,458
 (578,896)





Basic income (loss) per share (.08)
 (.12)
 .08
 (.43)
Diluted income (loss) per share
 (.08)
 (.12)
 .08
 (.43)





Weighted average shares outstanding
 1,638,215
 1,394,278
 1,601,256
 1,346,261