-----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, S9736fhRvc93iAc1Kzrn3Yl2ivxGOQj2f8rV0xVbQF07vGCaChFlMe8WiT0paouQ mJ4eDJEUiXBXqp0GpIhQ9w== 0001336618-06-000041.txt : 20060208 0001336618-06-000041.hdr.sgml : 20060208 20060208172446 ACCESSION NUMBER: 0001336618-06-000041 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060208 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060208 DATE AS OF CHANGE: 20060208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADDVANTAGE TECHNOLOGIES GROUP INC CENTRAL INDEX KEY: 0000874292 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DURABLE GOODS [5000] IRS NUMBER: 731351610 STATE OF INCORPORATION: OK FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10799 FILM NUMBER: 06590025 BUSINESS ADDRESS: STREET 1: 1605 EAST JOLA CITY: BROKEN ARROW STATE: OK ZIP: 74012 BUSINESS PHONE: 9182519121 MAIL ADDRESS: STREET 1: 1605 E IOLA CITY: BROKEN ARROW STATE: OK ZIP: 74012 FORMER COMPANY: FORMER CONFORMED NAME: ADDVANTAGE MEDIA GROUP INC /OK DATE OF NAME CHANGE: 19930328 8-K 1 r8k020806ex991.txt FORM 8-K FIRST QUARTER 2006 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): February 8, 2006 ADDVANTAGE TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in its charter) Oklahoma 1-10799 73-1351610 (State or other jurisdiction (Commission (IRS Employer of incorporated) File Number) Identification No.) 1605 E. Iola Broken Arrow, Oklahoma 74012 (Address of principal executive office) (Zip Code) (918) 251-9121 (Registrants telephone number, including area code) Check the appropriate box below if the Form 8K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] 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 February 8, 2006, ADDvantage Technologies Group, Inc. (the "Company") issued a press release announcing its financial results for its first quarter of fiscal 2006 that ended December 31, 2005. A copy of the press release is furnished as Exhibit 99.1 to this Current Report and is incorporated herein by reference. The information disclosed in this report, including Exhibit 99.1 hereto, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. ITEM 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibit is furnished herewith: 99.1 Press Release dated February 8, 2006, issued by the Company. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ADDVANTAGE TECHNOLOGIES GROUP, INC. Date: February 8, 2006 By: /s/ Ken Chymiak Ken Chymiak President and Chief Executive Officer Exhibit Index Exhibit Number Description 99.1 Press Release dated February 8, 2006, issued by the Company EX-99 2 r8kpressrelease020806.txt PRESS RELEASE EXHIBIT 99.1 Exhibit 99.1 ADDvantage Technologies Reports Record First Quarter Results Revenue Increases 20%; Net Income Climbs 15% BROKEN ARROW, Oklahoma, February 8, 2006 - ADDvantage Technologies Group, Inc. (AMEX: AEY), today announced the financial results for its fiscal 2006 first quarter ended December 31, 2005. Revenue for the 2006 first quarter increased 20% to $14.8 million from $12.3 million in the first quarter of 2005. Net income attributable to common stockholders in first quarter of 2006 rose 15% to $1.5 million, or $0.15 per diluted share, from $1.3 million, or $0.13 per diluted share, in the year-earlier period. David Chymiak, ADDvantage Technologies Group Chairman of the Board, commented, "We are pleased with our first quarter results. Maintaining our status as the cable television (CATV) industry's leading distributor of new and refurbished equipment, we continue to see room to expand our operations. Our success is a result of a fundamentally sound, multi-faceted business model that emphasizes a commitment to our existing business while exploring possible new spaces within the industry that may provide us with increased long-term growth potential." Ken Chymiak, ADDvantage Technologies Group President and CEO, commented, "Our strong revenue and net income growth demonstrates our ability to leverage our various resources as we continue to expand our business. First quarter results reflect new business agreements, including our exclusive distributorship for Scientific-Atlanta's System Amplifier III RF platform throughout the United States and Latin America, as well as the first full quarterly contribution from our acquisition of Jones Broadband International (JBI), a leading provider of television cable equipment and services. We believe our strategic relationships with blue chip product manufacturers, such as Scientific-Atlanta and Motorola, and unique ability to meet the needs of our customers swiftly by having product in stock will continue to drive future results." "As we maintain our strong performance in equipment sales, we remain focused on expanding our equipment repair and service business. Our strategy to offer products and services that complement our existing capabilities enables us to strengthen customer relationships and increase our competitive advantage. The August 2005 acquisition of JBI has enhanced our equipment repair and service capabilities throughout the west coast and we expect this acquisition to be accretive to earnings in the current fiscal year." About ADDvantage Technologies Group, Inc. ADDvantage Technologies Group, Inc. supplies the cable television (CATV) industry with a comprehensive line of new and used system-critical network equipment and hardware from leading manufacturers, including Scientific-Atlanta and Motorola, as well as operating a national network of technical repair centers. The equipment and hardware ADDvantage distributes is used to acquire, distribute, and protect the broad range of communications signals carried on fiber optic, coaxial cable and wireless distribution systems, including television programming, high-speed data (Internet) and telephony. ADDvantage operates through its subsidiaries, Tulsat, Tulsat-Atlanta, Tulsat-Nebraska, Tulsat-Texas, NCS Industries, ComTech Services and Jones Broadband International. For more information, please visit the corporate web site at www.addvantagetech.com. The information in this announcement may include forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future, are forward-looking statements. These statements are subject to risks and uncertainties, which could cause actual results and developments to differ materially from these statements. A complete discussion of these risks and uncertainties is contained in the Company's reports and documents filed from time to time with the Securities and Exchange Commission. (Tables follow) ADDvantage Technologies Group, Inc. Statement of Operations Three Months December 31, 2005 2004 ---- ---- Revenues $14,753,611 $12,261,125 Operating Income $ 2,893,518 $ 2,488,841 Net Income $ 1,741,594 $ 1,514,687 Preferred Stock Dividends $ 210,000 $ 210,000 Net Income Applicable To Common Stock $ 1,531,594 $ 1,304,687 Net Income Per Share of Common Stock Basic $ 0.15 $ 0.13 Diluted $ 0.15 $ 0.13 Shares Used in Computing Net Income Per Share: Basic 10,073,297 10,061,756 Diluted 10,116,782 10,117,873 For further information: KCSA Worldwide Company Contact: Michael Cimini / Garth Russell Ken Chymiak (9l8) 25l-2887 (212) 896-1233 / (212) 896-1250 David Chymiak (9l8) 25l-2887 mcimini@kcsa.com / grussell@kcsa.com -----END PRIVACY-ENHANCED MESSAGE-----