-----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, N/+zhn5bOm9ztjEKEdt+SMpVZGlPys0hR/ki2XOh0Kf4rY+Qku/uKKizvsdEqFFz ry1o1FMKhF64CTbT0SnL4Q== 0001019687-06-001317.txt : 20060524 0001019687-06-001317.hdr.sgml : 20060524 20060524165422 ACCESSION NUMBER: 0001019687-06-001317 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060524 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060524 DATE AS OF CHANGE: 20060524 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: 06864715 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-052306.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: May 24, 2006 Date of earliest event reported: May 22, 2006 - -------------------------------------------------------------------------------- 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, CA 92078-2698 (Address of principal executive offices) AREA CODE (760) 471-1700 (Registrant's telephone number, including area code) ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On May 22, 2006, Amistar Corporation issued a press release announcing its financial results for the first quarter of 2006. A copy of the press release is furnished as Exhibit 99 to this report and is incorporated herein by reference. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS Exhibit 99-Press Release of Amistar Corporation dated May 22, 2006, reporting Amistar's financial results for the first quarter 2006. 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: May 24, 2006 Amistar Corporation By: /s/ Gregory D. Leiser --------------------- Gregory D. Leiser Vice President Finance and Chief Financial Officer EX-99 2 amistar_8k-ex99.txt Exhibit 99-Press Release of Amistar Corporation dated May 22, 2006, reporting Amistar's financial results for the first quarter 2006. AMISTAR REPORTS FIRST QUARTER 2006 FINANCIAL RESULTS SAN MARCOS, CALIFORNIA, May 22, 2006 /PRIMEZONE/ -- Amistar Corporation (OTC Bulletin Board-AMTA.OB) today reported sales and results for the three months ended March 31, 2006. The Condensed Consolidated Statements of Operations included in this release reflect the AMS operating results presented as a discontinued operation. Net sales for the three months ended March 31, 2006 decreased $410,000 or 36% to $721,000, compared to $1,131,000 for the same quarter in 2005. There was a net loss from continuing operations for the three months ended March 31, 2006 of $1,005,000 or $0.32 per share compared to a net loss from continuing operations of $608,000 or $0.20 per share for the same quarter in 2005. The income from discontinued operations was $87,000 for the three months ended March 31, 2006 compared to a $46,000 loss during the same period in 2005. The operating loss from continuing operations for the three months ended March 31, of 2006 and 2005, respectively, includes: o $337,000 and $248,000, for start-up and machine development costs related to the new Distributed Delivery Networks venture to provide automated equipment and systems to the retail and other pharmacy markets. o $83,000 and $296,000, related to litigation defense and counter-suit costs for the lawsuit (now settled) with Asteres, Inc. The income from discontinued operations for the three months ended March 31, 2006 increased over the loss from discontinued operations during the same period in 2005, due primarily to an $16,000 gain on sale of equipment and due to lower personnel and facility costs in the three months ended March 31, 2006. "The first quarter sales and gross margin were lower than our expectation due primarily because two large orders for distributed and custom factory automation machinery were not completed in the first quarter and are now expected to be completed in the second quarter of 2006." "The Company, working jointly with our majority-owned subsidiary Distributed Delivery Networks, has reached further milestones in our effort to enter the emerging market for point-of-sale automation. During the first quarter we 1) continued to make machine hardware and software improvements to the APM(TM) resulting from data gathered during our beta tests in community and chain retail pharmacies, and 2) made machine hardware and software enhancements allowing us to offer the APM for use in an alternative market", stated Stuart Baker, Amistar's President. Condensed Consolidated Statements of Operations Three Months Ended March 31, 2006 2005 ----------- ----------- Net sales $ 721,000 $ 1,131,000 Cost of sales 628,000 737,000 ----------- ----------- Gross profit 93,000 394,000 Operating expenses 1,224,000 1,117,000 ----------- ----------- Loss from continuing operations (1,131,000) (723,000) Other income 127,000 116,000 ----------- ----------- Loss from continuing operations before income taxes (1,004,000) (607,000) Income taxes 1,000 1,000 ----------- ----------- Net loss from continuing operations (1,005,000) (608,000) Income (loss) from discontinued operations, net of income taxes 87,000 (46,000) ----------- ----------- Net loss $ (918,000) $ (654,000) =========== =========== Loss per common share on continuing operations-basic and diluted $ (0.32) $ (0.20) =========== =========== Income (loss) per common share on discontinued operations-basic and diluted $ 0.03 $ (0.01) =========== =========== Loss per common share-basic and diluted $ (0.29) $ (0.21) =========== =========== Shares used In per share calculation- basic and diluted 3,169,982 3,142,732 =========== ===========
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 Part 1 of the Company's Annual Report on Form 10-KSB. Actual results may differ materially from anticipated results. Amistar Corporation provides automation solutions primarily for the industrial and retail markets. 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. Through its majority-owned subsidiary, Distributed Delivery Networks Corporation, the Company provides automated point-of-sale machines that control the dispensing of securely stored items such as consumer products and prescriptions to retail and other customers. Additional information about Amistar is available at www.amistar.com and Distributed Delivery Networks Corporation at www.rx-apm.com Contact: Gregory Leiser Vice-President Finance and CFO 760-471-3967 gregL@amistar.com -----END PRIVACY-ENHANCED MESSAGE-----