-----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, KFdDcTlnV/lsZkU4Rg0RueLzccYIzLo6D5uxlXEAO07KZt5h5p4qiDJ+MYHx2JMA BlXtdlkKCZidImzbq1pqEw== 0001019687-04-000420.txt : 20040302 0001019687-04-000420.hdr.sgml : 20040302 20040302115903 ACCESSION NUMBER: 0001019687-04-000420 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040227 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040302 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMISTAR CORP CENTRAL INDEX KEY: 0000741559 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 952747332 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13403 FILM NUMBER: 04641621 BUSINESS ADDRESS: STREET 1: 237 VIA VERA CRUZ CITY: SAN MARCOS STATE: CA ZIP: 92069 BUSINESS PHONE: 6194713967 MAIL ADDRESS: STREET 1: 237 VIA VERA CRUZ CITY: SAN MARCOS STATE: CA ZIP: 92069 8-K 1 amistar_8k-030204.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURTIES AND EXCHANGE ACT OF 1934 Date of Report: March 2, 2004 Date of earliest event reported: February 27, 2004 - -------------------------------------------------------------------------------- AMISTAR CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its Charter) CALIFORNIA 0-13403 95-2747332 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) file number) Identification No.) 237 VIA VERA CRUZ SAN MARCOS, CA92069-2698 (Address of principal executive offices) AREA CODE (760) 471-1700 (Registrant's telephone number, including area code) 1 ITEM 7 (c). EXHIBITS Exhibit 99-Press Release of Amistar Corporation dated February 27, 2004, reporting Amistar's financial results for the fourth quarter 2003. ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On February 27, 2004, Amistar Corporation issued a press release announcing its financial results for the fourth quarter of 2003. A copy of the press release is furnished as Exhibit 99 to this report and is incorporated herein by reference. SIGNATURE 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. Date: March 2, 2004 Amistar Corporation By: /s/ Gregory D. Leiser ----------------------- Gregory D. Leiser Vice President Finance and Chief Financial Officer Exhibit 99-Press Release of Amistar Corporation dated February 27, 2004, reporting Amistar's financial results for the fourth quarter 2003. 2 EX-99 3 amistar_8kex-99.txt EXHIBIT 99 AMISTAR REPORTS FOURTH QUARTER 2003 FINANCIAL RESULTS SAN MARCOS, CALIFORNIA, February 27, 2004 /PR Newswire-First Call/ -- Amistar Corporation (Nasdaq:-AMTA) today reported sales and results for the three months and twelve months ended December 31, 2003. Net sales for the three months ended December 31, 2003 were $3,537,000 compared to $2,767,000 for the same quarter in 2002, a growth of 28%. Net sales for the twelve months ended December 31, 2003 were $12,083,000 compared to $11,079,000 for the comparable period in 2002, a growth of 9%. There was a net loss for the three months ended December 31, 2003 of $89,000 or $0.03 per share compared to a net loss of $166,000 or $0.05 per share in the fourth quarter of 2002. There was a net loss of $349,000 or $0.11 per share for the twelve months ended December 31, 2003 compared to a net loss of $1,099,000 or $0.36 per share for the comparable period in 2002.
Condensed Statements of Operations Three Months Ended Twelve Months Ended December 31, December 31, 2003 2002 2003 2002 -------------------------------- -------------------------------- Net Sales $ 3,537,000 $ 2,767,000 $ 12,083,000 $ 11,079,000 Cost of Sales 2,969,000 2,297,000 9,856,000 9,903,000 ------------- ------------- ------------- ------------- Gross Profit 568,000 470,000 2,227,000 1,176,000 Operating Expenses 657,000 634,000 2,564,000 2,695,000 ------------- ------------- ------------- ------------- Operating Loss (89,000) (164,000) (337,000) (1,519,000) Other Income (Expense) 1,000 (2,000) (8,000) 26,000 ------------- ------------- ------------- ------------- Loss Before Income Taxes (88,000) (166,000) (345,000) (1,493,000) Income Tax Expense (Benefit) 1,000 -- 4,000 (394,000) ------------- ------------- ------------- ------------- Net Loss $ (89,000) $ (166,000) $ (349,000) $ (1,099,000) ============= ============= ============= ============= Earnings (Loss) Per Share- Basic and Diluted $ (0.03) $ (0.05) $ (0.11) $ (0.36) ============= ============= ============= ============= Shares Used In Per Share Calculation- Basic and Diluted 3,078,857 3,083,675 3,080,401 3,085,375 ============= ============= ============= =============
3 After adding back depreciation expense of $87,000 and $354,000 to the net loss of $89,000 and $349,000, the Company generated operating cash flows of ($2,000) and $5,000 during the fourth quarter and year of 2003, respectively. The Company narrowed its net loss during the quarter and twelve months ended December 31, 2003 compared to the same periods in 2002, primarily due an increase in custom factory automation equipment sales, an increase in spare parts and accessories distributed from the Company's off-shore supplier, an increase in the billable portion of the engineering staff's time, the effects of cost cutting primarily during 2002, and due to increased manufacturing efficiencies in the Amistar Manufacturing Services division. The net loss for the twelve months ended December 31, 2003 was also narrowed compared to the same period in 2002 due to an increase in DataPlace(R) label placement machine sales. Statements contained in this release, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties such as those described in the Company's Annual Report on Form 10-K. Actual results may differ materially from anticipated results. The above press release makes reference to certain non-GAAP measures such as "Operating Cash Flow". OPERATING CASH FLOW represents net loss plus depreciation and amortization. Management believes that this non-GAAP measure provides useful information to investors and interested parties as indicators of our operating performance. Amistar Corporation provides industrial automation solutions and contract-manufacturing services. The Company designs, develops, manufactures, markets and services a variety of automated equipment used to assemble electronic components and product identification media to printed circuit boards and other assemblies. In addition, the Company provides design and manufacturing resources to create customized factory automation equipment and other products according to customers' specification in a broad range of industries. The Company also provides contract-manufacturing services to companies who outsource the manufacturing of their electronic products. Additional information about Amistar is available at www.amistar.com. Gregory Leiser Vice President Finance and CFO 760 471-1700 GREGL@amistar.com - ----------------- 4 -----END PRIVACY-ENHANCED MESSAGE-----