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): December 11, 2008

	Innovex, Inc.
(Exact name of Registrant as Specified in its Charter)

	Minnesota
(State Or Other Jurisdiction Of Incorporation)

000-13143	41-1223933
(Commission File Number)	(I.R.S. Employer Identification No.)

3033 Campus Drive, Suite E180 Plymouth, MN	55441
(Address Of Principal Executive Offices)	(Zip Code)

	(763) 383-4000
Registrant’s Telephone Number, Including Area Code

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 (see General Instruction A.2. below):

⃞ 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))

Items under Sections 1, 3 through 6, and 8 are not applicable and therefore omitted.

ITEM 2.02 Results of Operations and Financial Condition
ITEM 7.01 Regulation FD Disclosure

Innovex, Inc. (the “Company”) hereby furnishes a press release issued on December 11, 2008 disclosing updated guidance for first quarter of fiscal year 2009 that will end December 27, 2008, which update contains material non-public information regarding its first quarter of fiscal year 2009. Any preliminary results for the quarter are subject to the Company’s management and independent auditors’ customary quarterly review procedures.  The Company intends to issue a press release reporting final results of operations for the first quarter of fiscal year 2009 following the end of the quarter on December 27, 2008.

ITEM 9.01 Financial Statements and Exhibits

Exhibit No.	Description
99.1	Press Release issued on December 11, 2008.

SIGNATURE

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, thereunto duly authorized.

		INNOVEX, INC.
		By:	/s/ Terry M. Dauenhauer
		Terry M. Dauenhauer
		Chief Executive Officer
Date:	December 11, 2008

EX-99.1

Exhibit 99.1

Innovex Provides Update for 1QFY09

PLYMOUTH, Minn.--(BUSINESS WIRE)--December 11, 2008--Innovex (Pink Sheets: INVX) today provided an update for the first quarter of fiscal year 2009. Due to a significant, immediate short term reduction in the demand from several of the Company’s major customers experienced during the month of November, the revenue and revenue excluding pass through component projection for the first quarter of fiscal year 2009 has been lowered and will result in the first quarter revenue being significantly lower than the fourth quarter of fiscal year 2008.

“In the Company’s earnings release for fourth quarter fiscal year 2008 we had indicated that we were encouraged by the new business growth experienced during fourth quarter fiscal 2008,” commented Terry Dauenhauer, Innovex’s President and Chief Executive Officer. “We also indicated that recent weakness in demand from our major customers as a result of the difficult world economic situation was tempering any additional quarter to quarter growth expectation for the first quarter of fiscal year 2009, but that we were continuing to aggressively pursue getting additional new customers into production to offset the potential risk of lower demand from our current major customers. The recent, significant reductions in demand from some of our major customers, as well as their reduced work schedules and projected shutdown of operations near the end of the year now make it impossible to offset this demand reduction with new business, and in fact new business releases to production have also been hampered by the worldwide economic down turn as companies are more conservative releasing new products.”

“While we are doing everything possible to align costs with the reduced demand, the lower revenue levels and resultant lower capacity utilization is expected to more than offset the operational improvements realized thus far in the first quarter of fiscal year 2009, resulting in reduced gross margins,” stated Mr. Randy Acres, Innovex’s Chief Financial Officer. “This will create additional unanticipated working capital requirements over the short term for which we are evaluating alternatives.”

About Innovex, Inc.

Innovex, Inc. is a leading manufacturer of high-density flexible circuit-based electronic interconnect solutions. Innovex’s products enable the miniaturization and increasing functionality of high technology electronic devices. Applications for Innovex’s products include data storage devices such as hard disk drives and tape drives, liquid crystal displays for mobile telecommunication devices and printers. Innovex is known worldwide for its advanced technology and world class manufacturing.

Safe Harbor for Forward Looking Statements

Except for historical information contained herein, the matters discussed in this press release are forward looking statements that involve risks and uncertainties, including the timely availability and acceptance of new products, impact of restructuring charges, changes in product mix, the impact of competitive products and pricing, effect of world-wide economic conditions on flexible circuit demand, changes in manufacturing efficiencies, the Company’s ability to qualify and ramp for new products, fluctuations in financial results, continued cash availability under Company credit facilities, fluctuations in currency rates and other risks detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.

CONTACT:
Innovex, Inc.
Randy Acres, CFO, 763-383-4035
http://www.innovexinc.com