-----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, JvJiBYCH7Hz+8qR/L7cNqOMdYOyyH596OHVukiOcwBWarV0qYKHFqxKwSh8hwFdR LUgzkHeVjx0xoG4LpB6TvQ== 0000912057-97-017729.txt : 19970520 0000912057-97-017729.hdr.sgml : 19970520 ACCESSION NUMBER: 0000912057-97-017729 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970514 ITEM INFORMATION: Other events FILED AS OF DATE: 19970515 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOPRO INC CENTRAL INDEX KEY: 0000874263 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] IRS NUMBER: 841042227 STATE OF INCORPORATION: CO FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19167 FILM NUMBER: 97605890 BUSINESS ADDRESS: STREET 1: 2525 W EVANS AVE CITY: DENVER STATE: CO ZIP: 80219 BUSINESS PHONE: 3039351221 MAIL ADDRESS: STREET 1: 2525 W EVANS AVE CITY: DENVER STATE: CO ZIP: 80219 FORMER COMPANY: FORMER CONFORMED NAME: ENTERINVESTMENT CORP DATE OF NAME CHANGE: 19600201 8-K 1 8K 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 May 14, 1997 --------------- Date of Report (Date of Earliest Event Reported) TOPRO, INC. ----------------------------------------------------- (Exact name of Registrant as specified in its charter) Colorado 0-19167 84-1042227 - --------------------------------- ------------ ----------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation or organization) File No.) I.D. Number 2525 West Evans Avenue, Denver, Colorado 80219 - ----------------------------------------- ----------- (Address of principal executive offices) (zip code) (303) 935-1221 ---------------------------------------------------- (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS. After market close on May 14, 1997 the Company announced results of operations for the quarter and nine month period ended March 31, 1997. The Company's Press Release dated May 14, 1997, which is filed as Exhibit 20.1 hereto, is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Not applicable (b) Not applicable (c) Exhibits. The following exhibit is filed with this Report: 20.1 Press Release dated May 14, 1997 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Topro, Inc. Date: May 14, 1997 By: /s/ John Jenkins ----------------------------- John Jenkins President and CEO EX-20.1 2 EXHIBIT 20.1 EXHIBIT 20.1 PRESS RELEASE TOPRO, INC. Topro, Inc. 2525 W. Evans Ave. Denver, CO 80219 TOPRO, INC. REPORTS RECORD THIRD QUARTER & NINE-MONTH RESULTS REVENUE UP 90% AND RECORD $493,000 NET PROFIT FOR THIRD-QUARTER May 14, 1997 - DENVER, CO - Topro Inc. (Nasdaq-TPRO), a leading provider of automation and information technology solutions to industry, today announced results for the third quarter and nine-month period ending March 31, 1997. Third quarter revenues were up 90% to $11,183,000 from $5,859,000 in the same quarter last year. The company reported a net profit of $493,000, or $0.05 per share compared to a net loss of $1,054,000 the prior year period. Through nine months, Topro, Inc. reported a 143% increase in revenue to $27,287,000 versus $11,236,000 for the previous year period. Through nine months for fiscal 1997 the company reported a net profit of $489,000 or $0.05 per share versus a net loss of $1,676,000 for the same period last year. "The March 31 results represent the first full quarter of consolidated operations in the company's 12-month acquisition program designed to establish Topro as a leading nationwide provider of automation and information technology services," said John Jenkins, CEO. Jenkins also noted that revenue and gross margins were solid as a result of a good product mix across most of the organization, and that semiconductor application projects for IBM and Matsushista contributed significantly to revenues. Gross margins, as a percentage of sales, reached 37% for the quarter, and operating income (EBITDA) exceeded 9% of sales, or more than $1,000,000. "We are pleased with the progress of our financial performance," reports Jenkins. "Most importantly, while we have yet to fully leverage the combined strengths of our new organization, we have a plan and are executing it well. Additionally, we have completed a warrant exercise and a private placement of preferred equity in the month following the close of the quarter, which has had a significant positive impact on the balance sheet." Jenkins further noted that during the quarter, the company made significant progress in developing major new strategic alliances in addition to a very successful roll-out of its new Line-One-TM- product for the beverage packaging industry. Statements made in this news release that are not historical facts may be forward looking statements. Actual events may differ materially from those projected in any forward looking statement. There are a number of important factors beyond the control of the Company that could cause actual events to differ materially from those anticipated by any forward looking information. A description of risks and uncertainties attendant to Topro, Inc. and its industry and other factors which could affect the Company's financial results are included in the Company's Securities and Exchange Commission Filings. EARNINGS RECAP: 3 MONTHS ENDING 9 MONTHS ENDING --------------- --------------- 3/31/97 3/31/96 3/31/97 3/31/96 ------- ------- ------- ------- Revenues 11,183,000 5,859,000 27,287,000 11,236,000 Cost of Sales 7,049,000 4,852,000 17,730,000 8,552,000 - ------------- ---------- --------- ---------- ---------- Gross Profit 4,134,000 1,007,000 9,557,000 2,684,000 Expenses 3,133,000 1,396,000 8,023,000 3,299,000 - -------- ---------- --------- ---------- --------- Operating Income 1,001,000 (389,000) 1,534,000 (615,000) - ---------------- Gain/Loss on Sale 0 6,000 7,000 85,345 Interest Expense (402,000) (53,000) (780,000) (148,000) Goodwill Amortization (152,000) 0 (326,000) 0 Other Income 46,000 47,000 54,000 53,000 ---------- --------- ---------- ---------- Total Other Income/Expenses (508,000) 0 (1,045,000) (10,000) - --------------------------- Net Income (Loss) Before Taxes 493,000 (389,000) 489,000 (625,000) - ---------------------------------------- --------- ---------- ---------- Discontinued Operations (Loss) 0 (665,000) 0 (1,051,000) - ------------------------------ Net Income/(Loss) 493,000 (1,054,000) 489,000 (1,676,000) Primary Earnings Per Share $0.05 ($0.26) $0.05 ($0.42) Weighted Average Shares Outstanding 10,750,000 4,016,000 9,131,000 4,016,000 Contacts: Topro, Inc. Pacific Consulting Group, Inc. John Jenkins Scott Liolios (303) 935-1221 (714) 574-3860 -----END PRIVACY-ENHANCED MESSAGE-----