-----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, MsPFOahlFS+gotDS+ujkikwCENqFEbHPpgIgpklRa9VTJOu4iUdNokRMVaGB2fei LjJyDQKLGlA0/Xz6AysTsQ== 0001110550-05-000164.txt : 20051115 0001110550-05-000164.hdr.sgml : 20051115 20051115153442 ACCESSION NUMBER: 0001110550-05-000164 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051114 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051115 DATE AS OF CHANGE: 20051115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SERVOTRONICS INC /DE/ CENTRAL INDEX KEY: 0000089140 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] IRS NUMBER: 160837866 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07109 FILM NUMBER: 051206462 BUSINESS ADDRESS: STREET 1: 1110 MAPLE ST CITY: ELMA STATE: NY ZIP: 14059 BUSINESS PHONE: 7166335990 MAIL ADDRESS: STREET 1: P O BOX 300 STREET 2: ELMA STATE: NY ZIP: 14059-0300 8-K 1 eightk.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 Securities Exchange Act of 1934 Date of Report (date of earliest event reported): November 14, 2005 SERVOTRONICS, INC. ------------------ (Exact Name of Registrant as Specified in its Charter) Delaware 1-07109 16-0837866 -------- ------- ---------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 1110 Maple Street, Elma, New York 14059-0300 -------------------------------------------- (Address of Principal Executive Offices, including zip code) 716-655-5990 ------------ (Registrant's telephone number, including area code) Not Applicable -------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): 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)) Page 1 of 3 Pages ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On November 14, 2005 Servotronics, Inc. issued a press release announcing its financial results for the period ended September 30, 2005. The press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The information set forth in Items 2.02 and 9.01 of this Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of Servotronics, Inc., whether made before or after the date hereof, regardless of any general incorporation language in such filing. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. 99.1 Servotronics, Inc. Press Release issued on November 14, 2005. 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. Date: November 14, 2005 SERVOTRONICS, INC. By: /s/ Cari L. Jaroslawsky --------------------------------- Cari L. Jaroslawsky Chief Financial Officer Page 2 of 3 Pages Exhibit Index Exhibit No. Description - ----------- ----------- 99.1 Servotronics, Inc. Press Release issued on November 14, 2005. EX-99.1 2 exnn.txt Exhibit 99.1 November 14, 2005 SERVOTRONICS, INC. (AMEX- SVT) ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS FOR 2005 Elma, NY -- Servotronics, Inc. (Amex - SVT) announced a 63% increase in net income to $252,000 (or $0.12 per share - Basic and Diluted) on revenues of $5,826,000 for the third quarter ended September 30, 2005 as compared to net income of $154,000 (or $0.08 per share Basic and $0.07 per share Diluted) on revenues of $5,383,000 for the same quarter ended September 30, 2004. Net income for the nine month period ended September 30, 2005 was $581,000 (or $0.28 per share - Basic and $0.27 per share - Diluted) on revenues of $17,645,000 as compared to 2004's nine-month net income of $527,000 (or $0.26 per share - Basic and $0.25 per share - Diluted) on revenues of $16,351,000. The Increase in net income is attributable to increased shipments, product mix and price increases at the Company's Advanced Technology Group partially offset by a decrease in shipments at the Company's Consumer Products Group due to the scheduled completion of a significant government contract. Servotronics' expanded marketing efforts in foreign countries are continuing to be successful. Control components for foreign aerospace and industrial applications have been introduced and purchase orders received. These applications for our control components include foreign manufacturing equipment and jet engine controls. The Company has also been successful in becoming the exclusive supplier of certain control components to major domestic customers based on multi-year contracts. The press announcements of current and future production increases in the manufacture of commercial airliners by both Boeing and Airbus are, and will be, benefiting the Company. The Advanced Technology Group is forecasting continued sales increases in 2006. The Consumer Products Group working with its customers, is developing new items for both military and commercial applications. Military and government sales at the Consumer Products Group have a certain volatility that is traditionally characteristic of government procurements. The Consumer Products Group is currently supplying the U. S. government with a significant number of different types of bayonets and other military cutlery items. The Company is composed of two groups - the Advanced Technology Group and the Consumer Products Group. The Advanced Technology Group designs, develops and manufactures servo control and other components for various commercial and government applications (i.e., aircraft, jet engines, missiles, satellite launch vehicles, etc.). This group is currently providing products for a significant number of aerospace programs such as the F/A-18 E/F Super Hornet and other jet fighters; the Bell/Boeing MV-22 Osprey Tiltrotor Joint Service Aircraft, the Blackhawk, Apache, A-10 and other helicopters, the Standard Missile, numerous business and regional jet aircraft, Raytheon's Hawker Horizon Aircraft, Embraer TwinTurbo Fan aircraft, the Airbus 300 series and Boeing 700 series commercial aircraft, DeHavilland DHC8-40 and various other programs. Servotronics' Consumer Products Group designs and manufactures cutlery, bayonets, machetes and combat, survival, sporting, agricultural, and pocket knives for both commercial and government applications. FORWARD-LOOKING STATEMENTS Certain paragraphs of this release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, such as those pertaining to the Company's expectation of new business and success in its entry into new product programs. Forward-looking statements involve numerous risks and uncertainties. The Company derives a material portion of its revenue from contracts with agencies of the U.S. Government or their prime contractors. The Company's business is performed under fixed price contracts and the following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: uncertainties in today's global economy and global competition, difficulty in predicting defense appropriations, the vitality and ability of the commercial aviation industry to purchase new aircraft, the willingness and ability of the Company's customers to fund long-term purchase programs, and market demand and acceptance both for the Company's products and its customers' products which incorporate Company-made components. The success of the Company also depends upon the trends that affect the national economy. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's analysis only as of the date hereof. The Company assumes no obligation to update forward-looking statements. 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