0000047307-13-000012.txt : 20131216 0000047307-13-000012.hdr.sgml : 20131216 20131216152620 ACCESSION NUMBER: 0000047307-13-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130930 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131216 DATE AS OF CHANGE: 20131216 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: 131278872 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 r8kfy13q4.htm FORM 8-K 4TH QUARTER 2013 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 16, 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 December 16, 2013, Hickok Incorporated issued a news release announcing results for the fourth quarter and its fiscal year ended September 30, 2013. The news release is furnished herewith as Exhibit 99.1.

Item 9.01    Financial Statements and Exhibits
     
            99.1 News Release, dated December 16, 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:    December 16, 2013

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated December 16, 2013



 EX-99 2 pr991.htm EXHIBIT 99.1 NEWS RELEASE 4TH QUARTER 2013 News Release:
Exhibit 99.1

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


December 16, 2013
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS FOURTH QUARTER
AND FISCAL 2013 OPERATING RESULTS

CLEVELAND, OH, December 16 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, 2013.

For the quarter ended September 30, 2013, the Company recorded net income of $9,347 or $.01 per share, compared with a net loss of $205,070 or $.14 per share, in the same period a year ago. Sales in the fourth quarter were $1,423,000, up 26% from $1,129,447 a year ago.

For the 2013 fiscal year the Company reported net income of $138,805 or $.09 per share, compared with a net loss of $783,966 or $.57 per share, in the same prior year period. Sales were $6,466,172, up 36% compared to $4,761,289 a year ago.

Robert L. Bauman, President and CEO, said, "Operating results for the fourth quarter and the fiscal year were a significant improvement compared to the prior years. The large order for an OEM dealer service unit awarded and completed during the year provided the Company with its first profitable year since 2006."  He also said, "We are optimistic the strategy we have been executing is working and we expect continued improvement in 2014 results."

Backlog at September 30, 2013 was $631,000, a decrease of 11% from the backlog of $707,000 a year earlier. The decrease was due primarily to decreased orders for indicators and gauges of approximately $36,000. In addition, automotive diagnostic products orders to OEM's and emission products decreased by approximately $56,000 and $2,000 respectively, offset by an increase of $18,000 for non-emission aftermarket products.

At September 30, 2013, the Company had current assets of $3,199,326 (4.2 times current liabilities), and working capital of  $2,442,454. These compare to September 30, 2012 current assets of $2,823,971 (3.2 times current liabilities), and working capital of $1,935,875. At September 30, 2013 shareholder's equity was $2,747,811 or $1.68 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 2014, 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 2013
 2012
 2013
 2012
Net sales
 $1,423,000
 $1,129,447
 $6,466,172
 $4,761,289
Income (loss) before Income tax
 9,347
 (205,070)
 138,805
 (783,966)
Income (recovery of) taxes
 -0-
 -0-
 -0-
 -0-
Net income (loss)
 9,347
 (205,070)
 138,805
 (783,966)





Basic income (loss) per share
 .01
 (.14)
 .09
 (.57)
Diluted income (loss) per share .01
 (.14)
 .08
 (.57)





Weighted average shares outstanding
 1,638,215
 1,451,884
 1,610,571
 1,372,812