-----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, RpgbzGqE5NpVUg9abpSDZp3eSvyjEpRooD2yaAqV3wR20PWg53RiPuZJUWDzkoc8 RHcrefYmUd22Utuehv8Kgw== 0000914260-06-000054.txt : 20060321 0000914260-06-000054.hdr.sgml : 20060321 20060321160542 ACCESSION NUMBER: 0000914260-06-000054 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20060321 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060321 DATE AS OF CHANGE: 20060321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASTRO MED INC /NEW/ CENTRAL INDEX KEY: 0000008146 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 050318215 STATE OF INCORPORATION: RI FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13200 FILM NUMBER: 06701406 BUSINESS ADDRESS: STREET 1: 600 E GREENWICH AVE CITY: WEST WARWICK STATE: RI ZIP: 02893 BUSINESS PHONE: 4018284000 MAIL ADDRESS: STREET 1: 600 E GREENWICH AVENUE CITY: WEST WARWICK STATE: RI ZIP: 02893 FORMER COMPANY: FORMER CONFORMED NAME: ATLAN TOL INDUSTRIES INC DATE OF NAME CHANGE: 19850220 8-K 1 form8kearn321.htm FORM 8-K EARNINGS

 


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)

March 21, 2006


ASTRO-MED, INC

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


COMMISSION FILE NUMBER                0-13200

 

RHODE ISLAND

05-0318215

 

(STATE OR OTHER JURISDICTION OF

(IRS EMPLOYER IDENTIFICATION

INCORPORATION OR ORGANIZATION)

NUMBER)

 

600 EAST GREENWICH AVENUE, WEST WARWICK, RI 02893

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

(401-828-4000)

(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)

 


 

 

 



 

 

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On March 21, 2006, Astro-Med, Inc. (the “Company”) issued a press release in which it disclosed unaudited financial information related to fourth quarter and twelve month consolidated earnings.   A copy of the press release relating to such announcement, dated March 21, 2006, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(c)

Exhibit

 

Exhibit no.

Exhibit

99.1

Press Release dated March 21, 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

 

DATE: March 21, 2006

ASTRO-MED, INC.

 

 

By:

s/      Joseph P. O’Connell

 

 

Joseph P. O’Connell

 

 

Vice President, Treasurer and

 

Chief Financial Officer

 

 

 

 



 

 

INDEX TO EXHIBITS

 

Exhibit No.

Exhibit

 

 

99.1

Press Release Dated March 21, 2006

 

 

 

 

 

 

EX-99 2 pressreleaseearn321.htm EXHIBIT 99.1 PRESS RELEASE

Exhibit 99.1

 

PRESS RELEASE

 


 

600 East Greenwich Avenue

West Warwick, Rhode Island 02893

 

For Immediate Release

 

Contact:

Albert W. Ondis

March 21, 2006

 

Joseph P. O’Connell

 

 

Astro-Med, Inc.

 

 

(401) 828-4000

 

 

www.astro-medinc.com

 

 

Astro-Med Reports Record Fourth Quarter and Annual Sales;

Directors Increase Regular Cash Dividend

 

West Warwick, RI, March 21, 2006 -- Astro-Med, Inc. (NASDAQ:ALOT) reports net income of $856,000, equal to $0.15 per diluted share, on record sales of $16,005,000 for the Fourth Quarter ended January 31, 2006. During the corresponding period of the previous year, the Company reported net income of $458,000, equal to $0.08 per diluted share, on sales of $14,497,000.

 

During the twelve-month period of the fiscal year, net income was $2,551,000, equal to $0.44 per diluted share, on sales of $59,301,000. Net income in the twelve-month period includes $361,000, equal to $0.06 per diluted share for a tax-related benefit related to the favorable resolution of certain income tax examinations reported in the Third Quarter. Excluding the tax related benefit, earnings were $2,190,000, or $0.38 per diluted share. For the corresponding period last year, the Company reported net income of $2,709,000, equal to $0.47 per diluted share, on sales of $55,974,000. Net income in the prior fiscal year includes $939,000, equal to $0.16 per diluted share, in tax benefits. The tax benefits stemmed from the release of the valuation allowance on the net deferred tax asset reported in the First Quarter of the prior fiscal year. Excluding the tax related benefit, earnings in the previous year were $1,770,000, or $0.31 per diluted share.

 

Commenting on the results, Albert W. Ondis, Chief Executive Officer stated: “It was an outstanding Fourth Quarter for Astro-Med as we reported record sales and new orders leading to strong earnings and cash flow. New orders reached $17,347,000 in the quarter, a 23% increase over the prior year as demand from our domestic and international customers rose more than 20% above the prior year. Sales were also strong, reaching $16,005,000, representing an increase of 10% over the prior year. All three product groups, Test & Measurement (T&M), QuickLabel® Systems (QLS) and Grass-Telefactor® (G-T) reported sales increases.

 

 



 

 

“We are also pleased with the Company’s results for the year, as new orders reached $61,928,000, a record for Astro-Med, representing a 10% increase over the previous year. We received a strong demand for all products. The Company’s sales of $59,301,000 reached a record level and all product groups experienced growth from the prior year. As a result of our sales growth and improved margins, Astro-Med had a 23% increase in operating income.

 

“Our balance sheet remains solid with a current ratio of 4.7 to 1, we retain $14,725,000 in cash and marketable securities and a 10.4% return on shareholders equity excluding cash and marketable securities. We remain optimistic that with a continuous flow of new products together with the continued expansion of marketing initiatives globally, we will realize our planned growth and profitability goals.”

 

As previously reported, on March 20, 2006, the Directors of Astro-Med declared an increase to the quarterly cash dividend from $0.04 per share to $0.05 per share payable on April 3, 2006 to shareholders of record on March 24, 2006.

 

The Fourth Quarter conference call will be held today, Tuesday, March 21, 2006 at 5:00 PM EST. It will be broadcast in real time on the Internet through the Investor Relations portion of our website at www.astro-medinc.com. We invite you to log on and listen, or access the broadcast any time for up to 5 days following the event.

 

Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific, and medical applications.

 

ASTRO-MED, INC.

 

Consolidated Statement of Operations

In Thousands Except for Per Share Data

 

 

Three-Months Ended

Twelve-Months Ended

 

January 31, 2006

 

January 31, 2005

January 31, 2006

 

January 31, 2005

 

Net Sales

$16,005

 

$14,497

$59,301

 

$55,974

 

 

 

 

 

 

 

 

 

Gross Profit

6,855

 

6,180

24,658

 

23,046

 

 

42.8%

 

42.6%

41.6%

 

41.2%

 

Operating Expenses:

 

 

 

 

 

 

 

Selling, General & Administrative

4,489

 

4,416

17,460

 

16,430

 

Research & Development

1,111

 

1,054

4,043

 

4,047

 

 

5,600

 

5,470

21,503

 

20,477

 

 

 

 

 

 

 

 

 

Operating Income

1,255

 

710

3,155

 

2,569

 

 

7.8%

 

4.9%

5.3%

 

4.6%

 

 

 

 

 

 

 

 

 

Other, Net

31

 

2

247

 

197

 

 

 

 

 

 

 

 

 

Income Before Taxes

1,286

 

712

3,402

 

2,766

 

 

 

 

 

 

 

 

 

Income Tax Benefit (Provision)

(430)

 

(254)

(851)

(1)

( 57)

(2)

 

 

 

 

 

 

 

 

Net Income

$856

 

$458

$2,551

 

$2,709

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Net Income Per Share - Basic

$0.16

 

$0.09

$0.48

 

$0.51

 

Net Income Per Share - Diluted

$0.15

 

$0.08

$0.44

 

$0.47

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares - Basic

 

5,314

 

 

5,296

 

5,291

 

 

5,290

 

Weighted Average Number of Common Shares - Diluted

 

5,836

 

 

5,687

 

5,786

 

 

5,781

 

 

 

 

 

 

 

 

 

Dividends Declared Per Common Share

 

$0.05

 

 

$0.04

 

$0.17

 

 

$0.16

 

 

(1)

Includes $361,000 in tax benefits resulting from the favorable resolution of certain income tax examinations.

(2)

Includes $939,000 in tax benefits resulting from the release of the valuation allowance on the net deferred tax asset reported in the first quarter of FY 2005.

 

Selected Balance Sheet Data

In Thousands

 

 

 

 

As of

January 31, 2006

 

As of

January 31,  

2005

Cash & Marketable Securities

$14,725

$13,983

 

 

 

Current Assets

39,662

36,726

 

 

 

Total Assets

49,647

47,039

 

 

 

Current Liabilities

8,440

7,458

 

 

 

Shareholders’ Equity

$40,302

$38,408

 

 

 

 

Safe Harbor Statement

This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med’s FY2005 annual report and its annual and quarterly filings with the Securities and Exchange Commission.

 

 

 

 

 

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