0000047307-15-000014.txt : 20150813 0000047307-15-000014.hdr.sgml : 20150813 20150813131839 ACCESSION NUMBER: 0000047307-15-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150630 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150813 DATE AS OF CHANGE: 20150813 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: 151049854 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 r8kfy15q3.htm FORM 8-K 3RD QUARTER 2015 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, 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 August 13, 2015,  Hickok Incorporated issued a news release announcing results for its fiscal 2015 third quarter and nine months ended June 30, 2015. The news release is furnished herewith as Exhibit 99.1.

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

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

Date:    August 13, 2015

EXHIBIT  INDEX

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















 EX-99 2 pr991.htm EXHIBIT 99.1 NEWS RELEASE 3RD QUARTER 2015 News Release:
Exhibit 99.1

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


August 13, 2015
FOR IMMEDIATE RELEASE


HICKOK INCORPORATED REPORTS THIRD QUARTER
AND NINE MONTH RESULTS
CLEVELAND, OH, August 13 Hickok Incorporated (Pink Sheets: HICKA), 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, 2015.

For the quarter ended June 30, 2015, the Company recorded net income of $109,631 or 07 cents per share, compared with net income of $386,911 or 24 cents per share, in the same period a year ago. Sales in the third quarter were $1,804,614, compared with $2,130,412 a year ago. The current year third quarter benefited from two moderate size orders while the prior year third quarter benefited from a very large single order.

In the first nine months, the Company reported a net loss of $437,688 or 27 cents per share, compared with a net loss of $231,031 or 14 cents per share, in the same period a year ago. Sales were $4,058,014, compared to $4,297,121 a year ago.

Robert L. Bauman, President and CEO, said, “Our third quarter was strong and our fourth quarter is expected to be even stronger thanks to additional OEM tool orders and the success of new products for the aftermarket. Our Indicator products have been underperforming primarily because certain military items have not met forecast.” He also added, “Assuming we meet our fourth quarter forecast, fiscal 2015 operating results are expected to be positive.”

Backlog at June 30, 2015 was $1,391,000 versus a backlog of $1,349,000 a year earlier. The $42,000 increase was due primarily to increased orders for diagnostic products to automotive OEM's of approximately $32,000 and indicator products of approximately $34,000, offset in part by a decrease in orders for aftermarket product of approximately $24,000. The Company anticipates that approximately 86% of the current backlog will be shipped in the last quarter of fiscal 2015. The current order backlog continues to be strong due to the large order for a Tier 1 Supplier received in late June 2015.

The Company's current assets at June 30, 2015 of  $2,868,975 are 3.1 times current liabilities, there is no long-term debt and working capital is $1,934,888. These compare to June 30, 2014 current assets of $3,837,570 that were 2.3 times current liabilities, no long-term debt and working capital of $2,151,941. At June 30, 2015 shareholder's equity was $2,321,879 or $1.42 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 9 MONTHS
Period ended June 30
2015
 2014
 2015
 2014
Net sales
 $1,804,614
 $2,130,412
 $4,058,014
 $4,297,121
Income (loss) before Income tax
 109,631
 386,911
 (437,688)
 (231,031)
Income (recovery of) taxes
 -0-
 -0-
 -0-
 -0-
Net income (loss)
 109,631
 386,911
 (437,688)
 (231,031)





Basic income (loss) per share .07
 .24
 (.27)
 (.14)
Diluted income (loss) per share
 .07
 .23
 (.27)
 (.14)





Weighted average shares outstanding
 1,638,215
 1,638,215
 1,638,215
 1,638,215