Michigan | 0-20206 | 38-2381442 |
(State or Other Jurisdiction | (Commission | (IRS Employer |
of Incorporation) | File Number) | Identification No.) |
47827 Halyard Drive, Plymouth, MI | 48170-2461 | |
(Address of Principal Executive Offices) | (Zip Code) | |
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
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Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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99.1
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Press Release dated August 24, 2011 announcing the Company’s financial and operating results for the fourth quarter and fiscal year ended June 30, 2011.
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PERCEPTRON, INC.
(Registrant)
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Date: August 24, 2011 |
/s/ John H. Lowry III
By: John H. Lowry III
Title: Chief Financial Officer
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99.1
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Press release dated August 24, 2011 announcing the Company’s financial results for the fourth quarter and fiscal year ended June 30, 2011.
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By Segment
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Fourth Quarter Ending June 30
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Twelve months Ending June 30
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Fiscal 2011
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Fiscal 2010
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Change
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Fiscal 2011
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Fiscal 2010
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Change
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IBU
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$ | 14.1 | $ | 12.0 | $ | 2.1 | $ | 50.9 | $ | 40.2 | $ | 10.7 | ||||||||||||
CBU
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1.9 | 4.0 | (2.1 | ) | 8.4 | 11.9 | (3.5 | ) | ||||||||||||||||
Total Sales
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$ | 16.0 | $ | 16.0 | $ | 0.0 | $ | 59.3 | $ | 52.1 | $ | 7.2 | ||||||||||||
By Location
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Americas
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$ | 7.9 | $ | 9.5 | $ | (1.6 | ) | $ | 28.8 | $ | 26.2 | $ | 2.6 | |||||||||||
Europe
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5.8 | 3.8 | 2.0 | 22.7 | 20.3 | 2.4 | ||||||||||||||||||
Asia
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2.3 | 2.7 | (0.4 | ) | 7.8 | 5.6 | 2.2 | |||||||||||||||||
Total Sales
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$ | 16.0 | $ | 16.0 | $ | 0.0 | $ | 59.3 | $ | 52.1 | $ | 7.2 |
By Segment
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Fourth Quarter Ending June 30
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Twelve months Ending June 30
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Fiscal 2011
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Fiscal 2010
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Change
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Fiscal 2011
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Fiscal 2010
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Change
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IBU
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$ | 12.4 | $ | 12.0 | $ | 0.4 | $ | 58.0 | $ | 41.5 | $ | 16.5 | ||||||||||||
CBU
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2.1 | 3.5 | (1.4 | ) | 7.7 | 13.2 | (5.5 | ) | ||||||||||||||||
Total Bookings
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$ | 14.5 | $ | 15.5 | $ | (1.0 | ) | $ | 65.7 | $ | 54.7 | $ | 11.0 | |||||||||||
By Location
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Americas
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$ | 4.8 | $ | 8.3 | $ | (3.5 | ) | $ | 30.3 | $ | 29.2 | $ | 1.1 | |||||||||||
Europe
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5.1 | 5.0 | 0.1 | 23.1 | 17.3 | 5.8 | ||||||||||||||||||
Asia
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4.6 | 2.2 | 2.4 | 12.3 | 8.2 | 4.1 | ||||||||||||||||||
Total Bookings
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$ | 14.5 | $ | 15.5 | $ | (1.0 | ) | $ | 65.7 | $ | 54.7 | $ | 11.0 |
By Segment
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Fourth Quarter Ending June 30
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Fiscal 2011
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Fiscal 2010
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Change
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IBU
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$ | 23.9 | $ | 16.8 | $ | 7.1 | ||||||
CBU
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2.5 | 3.2 | (0.7 | ) | ||||||||
Total Backlog
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$ | 26.4 | $ | 20.0 | $ | 6.4 | ||||||
By Location
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Americas
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$ | 10.1 | $ | 8.6 | $ | 1.5 | ||||||
Europe
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8.6 | 8.2 | 0.4 | |||||||||
Asia
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7.7 | 3.2 | 4.5 | |||||||||
Total Backlog
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$ | 26.4 | $ | 20.0 | $ | 6.4 |
Webcast
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http://www.visualwebcaster.com/event.asp?id=81932
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Conference Call
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888 539-3686 (domestic callers) or
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Conference ID
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5493185
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Rebroadcast
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888 203-1112 (domestic callers) or
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Passcode
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5493185
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PERCEPTRON, INC.
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SELECTED FINANCIAL DATA
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(In Thousands Except Per Share Amounts)
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Condensed Operating Statements
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Three Months Ended
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Twelve Months Ended
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June 30,
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June 30,
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2011
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2010
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2011
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2010
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Net Sales
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$ | 16,043 | $ | 16,033 | $ | 59,271 | $ | 52,141 | ||||||||
Cost of Sales
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9,129 | 10,996 | 34,056 | 33,374 | ||||||||||||
Gross Profit
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6,914 | 5,037 | 25,215 | 18,767 | ||||||||||||
Selling, General and Administrative Expense
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4,348 | 3,681 | 14,906 | 14,902 | ||||||||||||
Engineering, Research and Development Expense
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1,941 | 2,259 | 8,165 | 7,304 | ||||||||||||
Operating Income (Loss)
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625 | (903 | ) | 2,144 | (3,439 | ) | ||||||||||
Interest Income, net
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73 | 52 | 233 | 228 | ||||||||||||
Foreign Currency and Other
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230 | 53 | 484 | 214 | ||||||||||||
Income (Loss) Before Income Taxes
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928 | (798 | ) | 2,861 | (2,997 | ) | ||||||||||
Income Tax Benefit (Expense)
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(383 | ) | 1,351 | (1,035 | ) | 2,192 | ||||||||||
Net Income (Loss)
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$ | 545 | $ | 553 | $ | 1,826 | $ | (805 | ) | |||||||
Income (Loss) Per Share
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Basic
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$ | 0.06 | $ | 0.06 | $ | 0.21 | $ | (0.09 | ) | |||||||
Diluted
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$ | 0.06 | $ | 0.06 | $ | 0.20 | $ | (0.09 | ) | |||||||
Weighted Average Common Shares Outstanding
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Basic
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8,657 | 8,954 | 8,879 | 8,923 | ||||||||||||
Diluted
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8,838 | 9,073 | 9,050 | 8,923 |
Condensed Balance Sheets
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June 30,
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June 30,
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||||||
2011 | 2010 | |||||||
Cash and Cash Equivalents
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$ | 12,105 | $ | 9,789 | ||||
Short-term Investments
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12,697 | 10,278 | ||||||
Receivables, net
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17,548 | 16,739 | ||||||
Inventories, net
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6,773 | 6,551 | ||||||
Other Current Assets
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5,064 | 4,165 | ||||||
Total Current Assets
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54,187 | 47,522 | ||||||
Property and Equipment, net
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6,233 | 5,931 | ||||||
Long-term Investments
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2,192 | 2,192 | ||||||
Deferred Tax Asset
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7,379 | 9,008 | ||||||
Total Non-Current Assets
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15,804 | 17,131 | ||||||
Total Assets
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$ | 69,991 | $ | 64,653 | ||||
Current Liabilities
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$ | 14,511 | $ | 11,177 | ||||
Shareholders' Equity
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55,480 | 53,476 | ||||||
Total Liabilities and Shareholders' Equity
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$ | 69,991 | $ | 64,653 |
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