-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CkhX+2z8NxOoozQnxfcI+LeKTickr7U4gLdEQamWF+ysueSJu9h2Z3ctPKDPDaiN BhQsH2lrI6NLMCcMqTZ8HQ== 0000071241-06-000005.txt : 20060509 0000071241-06-000005.hdr.sgml : 20060509 20060509103504 ACCESSION NUMBER: 0000071241-06-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060401 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060509 DATE AS OF CHANGE: 20060509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW BRUNSWICK SCIENTIFIC CO INC CENTRAL INDEX KEY: 0000071241 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY APPARATUS & FURNITURE [3821] IRS NUMBER: 221630072 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-06994 FILM NUMBER: 06819092 BUSINESS ADDRESS: STREET 1: 44 TALMADGE RD STREET 2: PO BOX 4005 CITY: EDISON STATE: NJ ZIP: 08818-4005 BUSINESS PHONE: 9082871200 MAIL ADDRESS: STREET 1: 44 TALMADGE ROAD STREET 2: PO BOX 4005 CITY: EDISON STATE: NJ ZIP: 08818-4005 8-K 1 nbscform8k1q06.txt NBSC FORM 8-K 1Q06 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): MAY 9, 2006 NEW BRUNSWICK SCIENTIFIC CO., INC. ---------------------------------- (Exact name of registrant as specified in its charter) NEW JERSEY 0-6994 22-1630072 ---------- ------ ---------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) P.O. BOX 4005 44 TALMADGE ROAD EDISON, NEW JERSEY 08818-4005 ------------------ ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (732) 287-1200 N/A (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 (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)) ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On May 9, 2006, New Brunswick Scientific Co., Inc. issued a press release entitled "New Brunswick Scientific Reports First-Quarter 2006 Earnings," a copy of which is furnished with this Current Report on Form 8-K as Exhibit 99.1. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) EXHIBITS Exhibit Number Description of the Exhibit - ------- ----------------------------- 99.1 Press release dated May 9, 2006, entitled "New Brunswick Scientific Reports First-Quarter 2006 Earnings" Signatures Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. New Brunswick Scientific Co., Inc. Date: May 9, 2006 By: /s/ Thomas Bocchino -------------------- Thomas Bocchino Vice President, Finance and Chief Financial Officer EX-99.1 2 nbscpressrelease1q06.txt NBSC PRESS RELEASE 1Q06 Exhibit 99.1 NEW BRUNSWICK SCIENTIFIC CO., INC. P.O. Box 4005 - 44 Talmadge Road - Edison, NJ 08818-4005 U.S.A. INVESTOR CONTACTS: Thomas Bocchino Matthew J. Dennis, CFA Vice President, Finance and Treasurer NBS Investor Relations New Brunswick Scientific Co., Inc. Clear Perspective Group, LLC 732.650.2500 440.353.0552 tbocchino@nbsc.com mdennis@cpg-llc.com FOR IMMEDIATE RELEASE --------------------- NEW BRUNSWICK SCIENTIFIC REPORTS FIRST-QUARTER 2006 EARNINGS EDISON, NEW JERSEY, MAY 9, 2006-New Brunswick Scientific Co., Inc. (NBS) (NASDAQ: NBSC), today announced financial results for the 2006 first quarter ended April 1, 2006. Reflecting strength in the international markets, first-quarter 2006 net sales set a new first-quarter record of $17.0 million, exceeding last year's first-quarter record of $16.1 million by five percent. Domestic sales decreased three percent and international sales increased, 11%, during the period. The stronger dollar had a negative impact of approximately $0.6 million on the quarter's sales. Net income for the quarter increased 43% to $583,000 from $407,000 for the comparable year-ago period. Diluted earnings per share were $0.06, up from the $0.05 per share reported for 2005's first quarter. Income from operations for the current quarter increased 55% to $995,000 from $643,000 a year ago. Gross margin expanded during the first quarter of 2006 due primarily to higher absorption of overhead as a result of increased production at our factories, product mix and a greater proportion of direct salesGross margin for the period improved to 40.7% compared with 40.0% in the fourth quarter of 2005 and 39.1% in the first quarter of 2005. First-quarter 2006 selling, general and administrative expenses decreased as a percentage of sales to 27.3% from 28.1% in 2005's first quarter. Research, development and engineering expenses increased 13% to $1.3 million in the 2006 first quarter related to the Company's new-product development program. Commenting on the improved financial results, NBS Chairman David Freedman stated: "We experienced an overall increase in demand for our products during the year's opening three months. For the first quarter of 2006, order intake increased 5.7% versus the year-ago period, and backlog increased 30.5%. Considering the current market environment, combined with continuing positive response to newly introduced products, we are off to what appears to be another good year for NBS." To be added to New Brunswick Scientific's e-mail distribution list, please click on the link below: HTTP://WWW.CLEARPERSPECTIVEGROUP.COM/CLEARSITE/NBSC/EMAILOPTIN.HTML - ------------------------------------------------------------------- ABOUT NEW BRUNSWICK SCIENTIFIC New Brunswick Scientific Co., Inc., is a leading global provider of a comprehensive line of research equipment and scientific instrumentation for use in the life science industry. The Company's products are used in the creation, maintenance and control of physical and biochemical environments required for the growth, detection and storage of microorganisms for medical, biological and chemical applications, as well as environmental research and commercial product development. NBS is a forerunner in the research and development of pioneering equipment to meet the challenges of new areas of advancement in life science. Established in 1946, New Brunswick Scientific is headquartered in Edison, New Jersey, with sales and distribution facilities strategically located in the United States, Europe and Asia. For more information, please visit www.nbsc.com ------------ .. This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of the Company. The forward-looking statements involve a number of risks and uncertainties, including but not limited to, changes in economic conditions, demand for the Company's products, pricing pressures, intense competition in the industries in which the Company operates, the need for the Company to keep pace with technological developments and respond in a timely manner to changes in customer needs, the Company's dependence on third-party suppliers, the effect on foreign sales of currency fluctuations, acceptance of new products, the labor relations of the Company and its customers and other factors identified in the Company's Securities and Exchange Commission filings. Forward-looking statements are based on management's current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially from these expectations and assumptions due to changes in global political, economic, business, competitive, market, regulatory and other factors. The Company undertakes no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise. --FINANCIAL RESULTS FOLLOW- NEW BRUNSWICK SCIENTIFIC CO., INC., AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per-share amounts) (Unaudited) THREE MONTHS ENDED APRIL 1, 2006 APRIL 2, 2005 ------------- ------------- Net sales $16,967 $16,108 Operating costs and expenses: Cost of sales 10,060 9,806 Selling, general and administrative expenses 4,626 4,522 Research, development and engineering expenses 1,286 1,137 ------- ------- Total operating costs and expenses 15,972 15,465 ------- ------ Income from operations 995 643 Other income (expense): Interest income 88 53 Interest expense (90) (36) Other, net (30) 19 ------- ------- (32) 36 ------- ------- Income before income tax expense 963 679 Income tax expense 380 272 ------- ------- Net income $ 583 $ 407 ======= ======= Basic income per share $ 0.06 $ 0.05 ======= ======= Diluted income per share $ 0.06 $ 0.05 ======= ======= Basic weighted average number of shares outstanding 9,050 8,896 ======= ======= Diluted weighted average number of shares outstanding 9,117 8,990 ======= ======= SELECTED CONSOLIDATED BALANCE SHEET ITEMS (Dollars in thousands) (Unaudited) APRIL 1, 2006 DECEMBER 31, 2005 ------------- ----------------- Cash and cash equivalents $ 8,859 $ 11,351 Accounts receivable, net 11,867 11,989 Inventories 14,732 13,155 Property, plant and equipment, net 6,723 6,595 Total assets 54,573 54,966 Accounts payable and accrued expenses 8,834 10,782 Long-term debt, net of current installments 1,280 1,389 Shareholders' equity 38,608 36,718 Working capital 24,299 22,870 Current ratio 2.8 to 1 2.5 to 1 -----END PRIVACY-ENHANCED MESSAGE-----