0000047307-15-000006.txt : 20150213 0000047307-15-000006.hdr.sgml : 20150213 20150213132846 ACCESSION NUMBER: 0000047307-15-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20141231 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150213 DATE AS OF CHANGE: 20150213 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: 15612072 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 r8ky15q1.htm FORM 8-K 1ST QUARTER 2015 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 13, 2015                                                  


                                                 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 13, 2015, Hickok Incorporated issued a news release announcing results for its fiscal 2015 first quarter ended December 31, 2014. The news release is furnished herewith as Exhibit 99.1.


Item 9.01    Financial Statements and Exhibits.
     
            99.1 News Release, dated February 13, 2015


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 13, 2015

EXHIBIT  INDEX

            Exhibit                Description of Exhibit
           
            99.1                    News Release, dated February 13, 2015




















 EX-99 2 prfy15q1.htm EXHIBIT 99.1 NEWS RELEASE 1ST QUARTER 2015 News Release:

Exhibit 99.1

Contact:

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




February 13, 2015
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS FIRST QUARTER
OPERATING RESULTS

CLEVELAND, OH, February 13 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 its fiscal 2015 first quarter ended December 31, 2014.

For the quarter ended December 31, 2014, the Company recorded a net loss of $270,656 or 17 cents per share, compared with a net loss of $320,287 or 20 cents per share, in the same period a year ago. Sales in the first quarter were $1,162,218, up 11% from $1,050,242 a year ago.

Robert L. Bauman, President and CEO, said, "The Company's first quarter was an improvement over last year but our first quarter is normally weak. We have significant opportunities in both OEM and Aftermarkets that we are optimistic will result in improved results the remainder of the year." In addition, he said, "What is most gratifying is that the opportunities are for products we developed as part of our strategy implemented in early 2011."

Backlog at December 31, 2014 was $469,000 versus backlog of $713,000 a year earlier. The $244,000 decrease was due primarily to decreased orders for automotive diagnostic products and indicator products. Specifically, orders for indicator products decreased by approximately $113,000 and orders for OEM and aftermarket products which include emissions products decreased by approximately $51,000 and $22,000 respectively.  In addition, orders for parts and service decreased by approximately $58,000. The Company anticipates that most of the current backlog will be shipped in fiscal 2015.

The Company's current assets at December 31, 2014 of $2,968,277 are 4.8 times current liabilities and working capital is $2,346,023. These compare to December 31, 2013 current assets of $2,852,708 that were 3.8 times current liabilities and working capital of $2,099,627. At December 31, 2014 shareholder's equity was $2,488,911 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 2015, 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

2014

2013

Net sales

$1,162,218

$1,050,242

Income (loss) before Income tax

(270,656)

(320,287)

Income (recovery of) taxes

-

-

Net income (loss)

(270,656)

(320,287)




Basic income (loss) per share

(.17)

(.20)

Diluted income (loss) per share

(.17)

(.20)




Weighted average shares outstanding

1,638,215

1,638,215