8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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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 7, 2014 (August 6, 2014)

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MOCON, INC.

(Exact name of registrant as specified in its charter)

Minnesota	000-09273	41-0903312
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

7500 Mendelssohn Avenue North Minneapolis, MN	55428
(Address of Principal Executive Offices)	(Zip Code)

(763) 493-6370

(Registrant’s telephone number, including area code)

Not Applicable

(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))

Section 2 – Financial Information

Item 2.02     Results of Operations and Financial Condition.

On August 6, 2014, MOCON, Inc. issued a press release announcing its results of operations and financial condition for its second quarter ended June 30, 2014. A copy of this press release is attached hereto as Exhibit 99.1.

The information contained in this Item 2.02 and the exhibit to this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any filings made by MOCON, Inc. under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

Section 9 – Financial Statements and Exhibits

Item 9.01     Financial Statements and Exhibits.

(d)     Exhibits.

Exhibit No.	Description
99.1	Press Release issued August 6, 2014

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MOCON, INC.
Dated: August 7, 2014	By:	/s/ Darrell B. Lee
		Darrell B. Lee
		Vice President, Chief Financial Officer, Treasurer and Secretary

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MOCON, INC.

CURRENT REPORT ON FORM 8-K

INDEX TO EXHIBITS

Exhibit No.	Description	Method of Filing
99.1	Press Release issued August 6, 2014	Furnished herewith

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EX-99

Exhibit 99.1

FOR IMMEDIATE RELEASE	For More Information Contact
	Darrell Lee, CFO/VP
August 6, 2014	763-493-6370 / www.mocon.com

MOCON Announces Record Revenues for the Second Quarter 2014

MINNEAPOLIS, MN, August 6, 2014 – MOCON, Inc. (NASDAQ: MOCO) today reported sales of $15.6 million for the second quarter ended June 30, 2014, an increase of 14 percent compared to $13.7 million for the same quarter in 2013, and a new quarterly record for the Company. Net income for the second quarter 2014 was $1.2 million, or $0.20 per diluted share, an increase of 45 percent compared to net income of $802,000 or $0.14 per diluted share, in the second quarter 2013. Sales totaled $30.9 million for the six-month period ended June 30, 2014, an increase of 10 percent compared to $28.1 million during the first six months of 2013. Net income and diluted earnings per share were $1.9 million and $0.33, respectively, for the first half of 2014, an increase of 14 percent compared to $1.7 million and $0.29 for the same period in 2013.

The sales growth for the current quarter was attributable to our Industrial Analyzer and Other segment which recorded a 27 percent increase in revenues, which was driven by continued strong demand in the oil and gas exploration and environmental monitoring markets. In addition, sales in our Package Testing segment increased in the current quarter by 22 percent due primarily to improved shipments of headspace analyzers to service the order backlog which was created in the fourth quarter 2013 due to a sensor warranty issue. Sales in our permeation segment were down slightly in the current quarter due mainly to a soft domestic market for both instruments and consulting services. In the second quarter 2014, the Company began shipments of the OX-TRAN™ Model 2/22, its new generation of oxygen permeation instruments, which was not a significant contributor to revenue in the period.

The Company-wide gross margin was consistent at 56 percent for each of the second quarters ended June 30, 2014 and 2013. The current year margin was slightly lower than plan due primarily to the lower than expected domestic sales of permeation instruments. Selling, general and administrative expenses were slightly higher in the second quarter and six-months ended June 30, 2014 compared to the same periods last year due primarily to increased commissions and headcount, as well as higher audit and SOX consulting fees. As a percentage of revenues, selling, general and administrative expenses decreased for both the quarter ended and six-months ended June 30, 2014 compared to the same periods last year.

“We are pleased to report a 14 percent growth in revenues and a 45 percent increase in net income for the quarter as our Industrial Analyzer and Package Testing groups showed strong growth in their respective markets,” said Robert L. Demorest, MOCON President and CEO. “We are encouraged by the fact that we see significant growth drivers in all our major business segments, ranging from intensified oil and gas exploration, growing environmental initiatives for cleaner water and air, and regulatory requirements for improved food and beverage consumer safety.”

About MOCON

MOCON is a leading provider of detectors, instruments, systems and consulting services to research laboratories, production facilities, and quality control and safety departments in the medical, pharmaceutical, food and beverage, packaging, environmental, oil and gas and other industries worldwide. See www.mocon.com for more information.

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements that can be identified by words such as “will,” “may,” “expect,” “believe,” “anticipate,” “estimate,” “continue,” or other similar expressions. All forward-looking statements speak only as of the date of this press release. MOCON undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. In addition to the risks and uncertainties of ordinary business operations and conditions in the general economy and the markets in which the company competes, there are important factors that could cause actual results to differ materially from those anticipated by the forward-looking statements made in this press release. These factors include, but are not limited to, the integration and performance of Dansensor, the terms of our credit agreement including financial covenants included therein, competition and technological change, setbacks in product development programs, order cancellations, dependence on certain key industries, and other factors set forth in the company’s Annual Report on Form 10-K for the year ended December 31, 2013 and other documents MOCON files with or furnishes to the Securities and Exchange Commission.

MOCON's shares are traded on the NASDAQ Global Market System under the symbol MOCO.

MOCON is a registered trademark of MOCON, Inc.; other trademarks are those of their respective holders.

MOCON, INC.

SUMMARY CONSOLIDATED FINANCIAL DATA

(in Thousands, Except Per Share Data)

INCOME STATEMENT DATA: (unaudited)

	Quarters Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Sales
Products	$	14,869		$	12,947		$	29,511		$	26,688
Consulting services		705			741			1,377			1,447
Total sales		15,574			13,688			30,888			28,135
Cost of sales
Products		6,344			5,606			12,811			11,613
Consulting services		508			426			966			888
Total cost of sales		6,852			6,032			13,777			12,501
Gross profit		8,722			7,656			17,111			15,634
Selling, general and administrative expenses		5,947			5,668			12,090			11,271
Research and development expenses		989			1,079			2,114			2,198
Operating income		1,786			909			2,907			2,165
Other income (expense), net		(94	)		(86	)		(151	)		(191	)
Income before income taxes		1,692			823			2,756			1,974
Income tax expense		527			21			861			306
NET INCOME	$	1,165		$	802		$	1,895		$	1,668
Net income per common share:
Basic	$	0.21		$	0.14		$	0.34		$	0.30
Diluted	$	0.20		$	0.14		$	0.33		$	0.29
Weighted average common shares outstanding:
Basic		5,655			5,538			5,648			5,529
Diluted		5,775			5,672			5,770			5,669

BALANCE SHEET DATA: (unaudited)

	June 30, 2014		December 31, 2013
Assets:
Cash and marketable securities	$	5,453	$	4,338
Accounts receivable, net		10,887		12,609
Inventories		8,498		7,471
Other current assets		2,840		3,151
Total current assets		27,678		27,569
Property, plant and equipment, net		5,912		5,727
Investment in affiliated company		3,411		3,442
Goodwill, intangibles and other assets		21,500		21,966
Total assets	$	58,501	$	58,704
Liabilities and Stockholders’ Equity:
Revolving lines of credit	$	4,849	$	4,264
Notes payable, current		1,893		2,698
Other current liabilities		10,069		9,973
Total noncurrent liabilities		3,357		4,300
Stockholders’ equity		38,333		37,469
Total liabilities and stockholders’ equity	$	58,501	$	58,704