0000926044-01-500125.txt : 20011107
0000926044-01-500125.hdr.sgml : 20011107
ACCESSION NUMBER: 0000926044-01-500125
CONFORMED SUBMISSION TYPE: 10-Q
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20010929
FILED AS OF DATE: 20011102
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: KNAPE & VOGT MANUFACTURING CO
CENTRAL INDEX KEY: 0000056362
STANDARD INDUSTRIAL CLASSIFICATION: PARTITIONS, SHELVING, LOCKERS & OFFICE AND STORE FIXTURES [2540]
IRS NUMBER: 380722920
STATE OF INCORPORATION: MI
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: 10-Q
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-01859
FILM NUMBER: 1773842
BUSINESS ADDRESS:
STREET 1: 2700 OAK INDUSTRIAL DR NE
CITY: GRAND RAPIDS
STATE: MI
ZIP: 49505
BUSINESS PHONE: 6164593311
MAIL ADDRESS:
STREET 1: 2700 OAK INDUSTRIAL DRIVE, NE
CITY: GRAND RAPIDS
STATE: MI
ZIP: 49505
10-Q
1
knape10q.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 29, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period From ____________________To ____________________
Commission File Number 2-18868
KNAPE & VOGT MANUFACTURING COMPANY
(Exact name of registrant as specified in its charter)
Michigan 38-0722920
(State of Incorporation) (IRS Employer Identification No.)
2700 Oak Industrial Drive, NE
Grand Rapids, Michigan 49505
(Address of principal executive offices) (Zip Code)
(616) 459-3311
(Telephone Number)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
YES X NO ______
2,271,717 common shares were outstanding as of October 26, 2001.
2,330,841 Class B common shares were outstanding as of October 26, 2001.
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
INDEX
Page No.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
Condensed Consolidated Balance Sheets
--September 29, 2001 and June 30, 2001.........................2
Condensed Consolidated Statements of Income
--Three Months Ended September 29, 2001 and
September 30, 2000...........................................3
Condensed Consolidated Statements of Cash Flows
--Three Months Ended September 29, 2001 and
September 30, 2000...........................................4
Notes to Condensed Consolidated Financial
Statements................................................5-7
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations.......................8-9
Item 3. Quantitative and Qualitative Disclosures About
Market Risk................................................10
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K..............................11
SIGNATURES ..............................................................12
1
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
PART I. FINANCIAL INFORMATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (Audited)
Sept. 29, 2001 June 30, 2001
-------------------- -----------------
Assets
Current assets
Cash and equivalents $ 2,835,766 $ 2,113,940
Accounts receivable - net 16,772,554 17,822,214
Inventories 14,491,120 14,290,096
Prepaid expenses and other 2,672,533 3,271,460
-------------------- -----------------
Total current assets 36,771,973 37,497,710
-------------------- -----------------
Property, plant and equipment 80,683,626 79,549,733
Less accumulated depreciation 40,060,073 38,524,582
-------------------- -----------------
Net property, plant and equipment 40,623,553 41,025,151
-------------------- -----------------
Goodwill 5,046,482 5,137,697
Other assets 6,082,415 6,142,835
-------------------- -----------------
$ 88,524,423 $ 89,803,393
==================== =================
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $ 10,494,991 $ 10,366,596
Other accrued liabilities 8,695,439 8,665,511
-------------------- -----------------
Total current liabilities 19,190,430 19,032,107
-------------------- -----------------
Long-term debt 22,280,000 23,750,000
Deferred income taxes and other long-term liabilities 10,612,489 9,888,589
-------------------- -----------------
Total liabilities 52,082,919 52,670,696
-------------------- -----------------
Stockholders' Equity
Common stock (Common - 2,282,017 and 2,277,921 shares issued,
Class B common - 2,330,841 and 2,339,920 shares issued,
Preferred - unissued) 9,225,716 9,235,682
Additional paid-in capital 8,457,132 8,502,727
Unearned stock grant (94,500) (94,500)
Accumulated other comprehensive income:
Foreign currency translation adjustment (185,380) (86,729)
Derivative adjustment (1,070,443) (353,301)
Minimum supplemental executive retirement plan
liability adjustment (1,034,984) (1,036,062)
Retained earnings 21,143,963 20,964,880
-------------------- -----------------
Total stockholders' equity 36,441,504 37,132,697
-------------------- -----------------
$ 88,524,423 $ 89,803,393
==================== =================
See accompanying notes.
2
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Months Ended
Sept. 29, 2001 Sept. 30, 2000
----------------- ----------------
Net sales $ 33,089,191 $ 37,769,452
Cost of sales 25,478,571 27,969,204
------------------- -------------------
Gross profit 7,610,620 9,800,248
Selling and administrative expenses 5,774,022 5,992,668
------------------- -------------------
Operating income 1,836,598 3,807,580
Other expenses 441,970 436,685
------------------- -------------------
Income before income taxes 1,394,628 3,370,895
Income taxes 489,000 1,190,000
------------------- -------------------
Net income $ 905,628 $ 2,180,895
=================== ===================
Basic earnings per share:
Net income per share $ 0.20 $ 0.47
=================== ===================
Weighted average shares outstanding 4,616,964 4,615,000
Diluted earnings per share:
Net income per share $ 0.20 $ 0.47
=================== ===================
Weighted average shares outstanding 4,616,964 4,619,016
Cash dividend - common stock $ .165 $ .165
Cash dividend - Class B common stock $ .15 $ .15
See accompanying notes.
3
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Three Months Ended
Sept. 29, 2001 Sept. 30, 2000
------------------ ------------------
Operating Activities:
Net income $ 905,628 $ 2,180,895
Non-cash items:
Depreciation and amortization 1,891,440 1,538,556
Deferred income taxes (72,000) (70,000)
Other long-term liabilities 134,622 100,932
Loss on disposal of fixed assets 68,232 -
Changes in operating assets and liabilities:
Accounts receivable 996,733 1,787,816
Inventories (201,024) (1,580,171)
Other current assets 509,431 63,185
Accounts payable and accrued expenses 226,854 (1,721,769)
------------------- ------------------
Net cash provided by operating activities 4,459,916 2,299,444
------------------- ------------------
Investing Activities:
Additions to property, plant and equipment (1,488,032) (2,195,587)
Proceeds from sales of property, plant and equipment 105,705 -
Payments for other non-current assets (8,891) (1,059)
------------------- ------------------
Net cash used for investing activities (1,391,218) (2,196,646)
------------------- ------------------
Financing Activities:
Cash dividends paid (726,545) (725,707)
Proceeds from issuance of common stock - 3,903
Repurchase and retirement of common stock (66,174) (20,537)
Borrowings on long-term debt 9,510,000 14,790,000
Payments on long-term debt (10,980,000) (14,270,000)
------------------- ------------------
Net cash used for financing activities (2,262,719) (222,341)
------------------- ------------------
Effect of Exchange Rate Changes on Cash (84,153) (18,894)
------------------- ------------------
Net Increase (Decrease) in Cash and Equivalents 721,826 (138,437)
Cash and equivalents, beginning of year 2,113,940 2,351,622
------------------- ------------------
Cash and equivalents, end of period $ 2,835,766 $ 2,213,185
=================== ==================
Cash Paid During the Period - interest $ 407,403 $ 372,418
- income taxes $ 20,000 $ 285,000
See accompanying notes.
4
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Note 1 - Summary of Significant Accounting Policies
The accompanying unaudited condensed consolidated financial statements and
related notes have been prepared pursuant to the rules and regulations of the
Securities and Exchange Commission. The information furnished reflects all
adjustments, which are, in the opinion of management, necessary for a fair
statement of the results of operations and consist of only normal recurring
adjustments. Interim results are not necessarily indicative of the results for
the year-end and are subject to year-end adjustments, and audit by independent
public accountants. The balance sheet at June 30, 2001, has been taken from the
audited financial statements at that date. The condensed consolidated financial
statements and notes should be read in conjunction with the Company's 2001
annual report.
The Company utilizes a 52- or 53-week fiscal year, which ends on the Saturday
nearest the end of June. The fiscal years ending June 30, 2001 and June 29, 2002
each contain 52 weeks.
The Company uses an interest rate swap agreement to modify a portion of the
variable rate revolving line of credit to a fixed rate obligation, thereby
reducing the exposure to market rate fluctuations. The interest rate swap
agreement is designated as a hedge, and effectiveness is determined by matching
the principal balance and terms with that specific obligation. Amounts currently
due to or from interest-rate-swap-counter parties are recorded in interest
expense in the period in which they accrue. The derivative was recognized as a
liability on the balance sheet at its fair value of $1,647,443 at September 29,
2001 and $543,301 at June 30, 2001 and as an asset on the balance sheet of
$375,019 at September 30, 2000.
In accordance with the Emerging Issues Task Force ("EITF") No. 00-10,
"Accounting for Shipping and Handling Fees and Costs," certain shipping costs
have been reclassified from sales to cost of goods sold. Certain handling costs
as defined by the EITF are classified as operating expenses and amounted to
$1,219,243 and $1,229,489 for the quarters ended September 29, 2001 and
September 30, 2000, respectively.
In addition, EITF No. 00-22, "Accounting for Certain `Points' and Other
Time-Based Sales Incentive Offers, and Offers for Free Products or Services to
be Delivered in the Future," resulted in certain rebate offers that are
delivered subsequent to a single exchange transaction being recognized when
incurred and reported as a reduction of revenue.
In May 2001, the EITF issued EITF No. 00-25, "Vendor Income Statement
Characterization of Consideration Paid to a Reseller of the Vendor's Products."
EITF No. 00-25 requires that certain amounts paid to customers under cooperative
advertising and buydown programs be recognized when incurred and reported as a
reduction of revenue.
EITF Nos. 00-22 and 00-25 resulted in certain costs having been reclassified
from operating expenses to net sales, however, they did not have any impact on
operating or net income. Accordingly, certain prior year information has been
reclassified to conform to the current year presentation.
Note 2 - New Accounting Standards
In June 2001, the Financial Accounting Standards Board finalized Statements No.
141, Business Combinations (SFAS 141), and No. 142, Goodwill and Other
Intangible Assets (SFAS 142). SFAS 141 requires the use of the purchase method
of accounting and prohibits the use of the pooling-of-interest method of
accounting for business combinations. SFAS 141 also requires that the Company
recognize acquired intangible assets apart from goodwill if the acquired
intangible assets meet certain criteria. SFAS 141 applies to all business
combinations initiated after June 30, 2001 and for purchase business
combinations completed on or after July 1, 2001. It also requires, upon adoption
of SFAS 142, that the Company reclassify the carrying amounts of intangible
assets and goodwill based on the criteria in SFAS 141.
5
SFAS 142 requires, among other things, that companies no longer amortize
goodwill, but instead test goodwill for impairment at least annually. In
addition, SFAS 142 requires that the Company identify reporting units for the
purposes of assessing potential future impairments of goodwill, reassess the
useful lives of other existing recognized intangible assets, and cease
amortization of intangible assets with an indefinite useful life. An intangible
asset with an indefinite useful life should be tested for impairment in
accordance with the guidance in SFAS 142. SFAS 142 is required to be applied in
fiscal years beginning after December 15, 2001 to all goodwill and other
intangible assets recognized at that date, regardless of when those assets were
initially recognized. SFAS 142 requires the Company to complete a transitional
goodwill impairment test six months from the date of adoption. The Company is
also required to reassess the useful lives of other intangible assets within the
first interim quarter after adoption of SFAS 142.
The Company's previous business combinations were accounted for using the
purchase method. As of September 29, 2001, the net carrying amount of goodwill
is $5,046,482. Currently, the Company is assessing but has not yet determined
how the adoption of SFAS 141 and SFAS 142 will impact its financial position and
results of operation.
Note 3 - Common Stock and Per Share Information
Common stock is $2 par - shares authorized 6,000,000 of common stock and
4,000,000 of Class B common stock.
The following table reconciles the numerators and denominators used in the
calculations of basic and diluted EPS for each of the periods presented:
Sept. 29, 2001 Sept. 30, 2000
--------------------- --------------------
Numerators:
Numerator for both basic and
diluted EPS, net income $905,628 $2,180,895
===================== ====================
Denominators:
Denominator for basic EPS,
weighted-average common shares
outstanding 4,616,964 4,615,000
Potentially dilutive shares
resulting from stock option plans - 4,016
--------------------- --------------------
Denominator for diluted EPS 4,616,964 4,619,016
===================== ====================
The following exercisable stock options were not included in the computation of
diluted EPS because the option prices were greater than average quarterly market
prices.
Sept. 29, 2001 Sept. 30, 2000
--------------------- --------------------
Exercise Price
$12.58 4,995 -
$13.64 20,410 -
$14.09 20,350 -
$16.74 10,594 11,192
$18.18 9,625 10,450
$26.54 62,432 -
Note 4 - Inventories
Inventories are valued at the lower of FIFO (first-in, first-out) cost or
market. Inventories are summarized as follows:
Sept. 29, 2001 June 30, 2001
-------------- --------------
Finished products $ 10,065,277 $ 9,916,080
Work in process 1,792,344 1,608,544
Raw materials 2,633,499 2,765,472
-------------- --------------
Total $ 14,491,120 $ 14,290,096
============== ==============
6
Note 5 - Comprehensive Income
Comprehensive income is comprised of net income and all changes to stockholders'
equity, except those due to investments by owners and distributions to owners.
Comprehensive income and its components consist of the following:
Three months ended Sept. 29, 2001 Sept. 30, 2000
--------------------------------------------- ----------------- -- ----------------
Net income $905,628 $ 2,180,895
Other comprehensive income:
Foreign currency translation adjustment (98,651) (33,287)
Derivative adjustment (717,142) 244,019
Minimum SERP liability adjustment 1,078 757
----------------- ----------------
Comprehensive income $ 90,913 $ 2,392,384
================= ================
Other comprehensive income (loss) related to the interest rate swap agreement
consisted of the following components:
Sept. 29, 2001 Sept. 30, 2000
-------------------- -------------------- ------------------ -------------------
Pre-Tax After-Tax Pre-Tax After-Tax
-------------------- -------------------- ------------------ -------------------
Cumulative effect of a change in
accounting principle, as of July 1, 2000 $ - $ - $ 797,871 $ 518,616
Change in fair value of interest rate swap (981,225) (637,225) (449,607) (292,352)
Settlement to interest expense (122,917) (79,917) 26,755 17,755
-------------------- -------------------- ------------------ -------------------
Other comprehensive income (loss) $(1,104,142) $ (717,142) $ 375,019 $ 244,019
==================== ==================== ================== ===================
Note 6 - Assets Held for Sale
During fiscal 2000, the Company offered its former powder coat facility for
sale. As a result of this decision, the related assets of $1,779,405 were
transferred to the category "Net Assets Held for Sale" and a loss of $105,000
was recorded in the fourth quarter of fiscal 2000 based upon the buy/sell
agreement. The purchaser was unable to close the transaction and the building
remains listed with a real estate broker. In addition, the Company has listed a
former facility in Muncie, Indiana for sale. Based upon new information obtained
during the third quarter of fiscal 2001 regarding the current fair market value
of the facilities held for sale, the Company recorded an additional impairment
loss of $300,000 pre-tax.
Note 7 - Stock Repurchase
At the August 20, 1999 Board of Directors meeting, the Board approved 440,000
shares for the stock repurchase program. Utilizing this Board authorization, the
Company has purchased 5,800 shares during the first quarter of fiscal 2002 for
$66,176 with the price per share ranging from approximately $11 to $12. Since
the beginning of the stock repurchase program in fiscal 1999, the Company has
purchased 1,994,812 shares for approximately $35.8 million.
7
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Certain matters discussed in this section include forward-looking statements
involving risks and uncertainties. When used in this document, the words
"believes," "expects," "anticipates," "goal," "think," "forecast," "project,"
and similar expressions identify forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning future revenue
and net income growth. Such statements are subject to certain risks and
uncertainties, which would cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Readers are cautioned
not to place undue reliance on those forward-looking statements that speak only
as of the date of this report.
RESULTS OF OPERATIONS
As discussed in Note 1, certain reclassifications are reflected in the amounts
discussed below.
Net Sales
Net sales for the first quarter of fiscal 2002 were $33.1 million compared to
$37.8 million for the same period in the prior year. The decline in net sales of
12.4% reflects the overall sluggish U.S. and Canadian economies. The largest
portion of the Company's sales are to the office furniture industry, which for
the months of July and August of 2001 reported a sales decline of approximately
20%. This downturn is expected to continue through the end of the calendar year.
BIFMA, the office furniture market's association, has revised its sales forecast
for calendar 2001 down to a net decline of 16%.
The Company's ability to out perform the office furniture industry as a whole
was due to its sales to other markets, including retail and distribution. In
addition, the Idea@Work product line continued to show sales growth in the first
quarter. The increased sales growth of this key product line reflected a gain in
market share, along with sales from new products, such as the desk and task
lighting line, introduced during the fourth quarter of fiscal 2001.
Gross Profit
Gross profit, as a percentage of net sales, was 23.0% for the first quarter of
fiscal 2002 compared to 25.9% for the same period in the prior year. The lower
sales volumes in the first quarter of fiscal 2002 made it more difficult for the
Company to fully leverage its fixed overhead costs, which resulted in lower
gross margins. In order to reduce the impact of the lower sales volumes, the
Company has continued its focus on lean manufacturing combined with better
utilization of the investments made over the past few years to help increase
productivity.
Operating Expenses
Selling and administrative expenses, as a percentage of net sales, for the first
quarter ended September 29, 2001, were 17.4% compared to 15.9% in the same
period in the prior year. The increase from the prior year was due to the higher
operating costs associated with the ergonomic product line combined with the
Company's continued investment to launch its new products into the market.
Other Expenses
Interest expense was $400,535 for the first quarter of fiscal 2002, compared to
$381,393 for the same period in the prior year. The increase in interest expense
was attributable to the higher level of borrowings partially offset by lower
interest rates during the first quarter of fiscal 2002.
Other miscellaneous expense was $41,435 for the first quarter of fiscal 2002,
compared to $55,292 in the prior year. The expense in fiscal 2002 reflects the
loss incurred on the disposal of certain manufacturing assets.
8
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
(Continued)
Income Taxes
The effective tax rate for the quarter ended September 29, 2001, was 35.1%
compared with the rate of 35.3% for the same period in the prior year.
Net Income
For the quarter ended September 29, 2001, net income was $905,628 or $0.20 per
diluted share compared to $2,180,895 or $0.47 per diluted share for the first
quarter of last year. The decrease in net income in the first quarter of fiscal
2002 was primarily attributable to the lower sales volume.
Liquidity and Capital Resources
Net cash from operating activities for the first three months of fiscal 2002
provided $4,459,916 as compared to $2,299,444 for the first three months of
fiscal 2001. The reduced level of working capital reflected the Company's focus
on reducing inventory levels and higher accounts payable primarily due to timing
of the quarter-end cutoff.
Capital expenditures totaled $1,488,032 for the three months ended September 29,
2001, compared to $2,195,587 for the three months ended September 30, 2000. The
fiscal 2002 capital expenditures primarily represented investments in tooling
for new products, including the next generation precision drawer slides. There
were no significant capital expenditure commitments at September 29, 2001.
Capital expenditures are anticipated to remain at approximately the same level
as depreciation.
At the August 20, 1999 Board of Directors meeting, the Board approved 440,000
shares for the stock repurchase program. Utilizing this Board authorization, the
Company has purchased 5,800 shares during the first quarter of fiscal 2002 for
$66,176 with the price per share ranging from approximately $11 to $12. Since
the beginning of the stock repurchase program in fiscal 1999, the Company has
purchased 1,994,812 shares for approximately $35.8 million.
The long-term debt balance decreased to $22,280,000 at September 29, 2001,
compared to $23,750,000 at June 30, 2001 and increased compared to $20,570,000
at September 30, 2000. The decrease from June 30, 2001 reflects better working
capital management along with lower capital expenditures. The increase from the
September 30, 2000, balance reflects funds utilized for capital expenditures,
primarily for capacity and productivity improvements, offset by net income
earned during the period.
Anticipated cash flows from operations and available balances on the revolving
credit line are expected to be adequate to fund working capital, capital
expenditures, stock repurchases and dividend payments.
9
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK
The Company is exposed to market risks, which include changes in the foreign
currency exchange rate as measured against the U.S. dollar and changes in U.S.
interest rates. The Company holds a derivative instrument in the form of an
interest rate swap, which is viewed as a risk management tool and is not used
for trading or speculative purposes. The intent of the interest rate swap is to
effectively fix the interest rate on part of the borrowings under the Company's
variable rate revolving credit agreement.
Quantitative disclosures relating to financial instruments and debt are included
in the tables below.
The following table provides information on the Company's fixed maturity
investments as of September 29, 2001 that are sensitive to changes in interest
rates. The table also presents the corresponding interest rate swap on this
debt. Since the interest rate swap effectively fixes the interest rate on the
notional amount of debt, changes in interest rates have no current effect on the
interest expense recorded by the Company on the portion of the debt covered by
the interest rate swap.
Liability Amount Maturity Date
------------------ --------- -------------
Variable rate revolving credit
agreement $45 million November 1, 2004
First $20,000,000 at an interest rate
of 3.53% plus weighted average
credit spread of .625%
Amounts in excess of $20,000,000 have
an interest rate of approximately 3.3%
Interest Rate Swap
Notional amount $20 million June 1, 2006
Pay fixed/Receive variable - 3.4625%
Pay fixed interest rate - 6.25%
The Company has a sales office located in Canada. Sales are typically
denominated in Canadian dollars, thereby creating exposures to changes in
exchange rates. The changes in the Canadian/U.S. exchange rate may positively or
negatively affect the Company's sales, gross margins and retained earnings. The
Company attempts to minimize currency exposure through working capital
management. The Company does not hedge its exposure to translation gains and
losses relating to foreign currency net asset exposures.
10
KNAPE & VOGT MANUFACTURING COMPANY AND SUBSIDIARIES
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
See Exhibit Index
(b) Reports on Form 8-K
There were no reports on Form 8-K filed for the three months
ended September 29, 2001.
11
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 thereunto duly authorized.
Knape & Vogt Manufacturing Company
----------------------------------
(Registrant)
Date: November 2, 2001 /s/ William R. Dutmers
------------------------ -----------------------------------
William R. Dutmers
Chairman, President and
Chief Executive Officer
Date: November 2, 2001 /s/ Leslie J. Cummings
------------------------ -----------------------------------
Leslie J. Cummings
Vice President of Finance and
Treasurer
12