-----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, RjBkhrc7ERcmj96y8/KALy+2ONMfz5ou6F34/3UG3daeKer3gX+42pSzEqhAeSSk E1+IAaq0i7U6h+aN22+HQA== 0001193125-07-005915.txt : 20070112 0001193125-07-005915.hdr.sgml : 20070112 20070112134854 ACCESSION NUMBER: 0001193125-07-005915 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070111 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20070112 DATE AS OF CHANGE: 20070112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERIGON INC CENTRAL INDEX KEY: 0000903129 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 954318554 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21810 FILM NUMBER: 07528161 BUSINESS ADDRESS: STREET 1: 21680 HAGGERTY ROAD CITY: NORTHVILLE STATE: MI ZIP: 48167-8994 BUSINESS PHONE: 248-504-0500 MAIL ADDRESS: STREET 1: 21680 HAGGERTY ROAD CITY: NORTHVILLE STATE: MI ZIP: 48167-8994 8-K 1 d8k.htm FORM 8-K Form 8-K

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): January 11, 2007

 


AMERIGON INCORPORATED

(Exact name of registrant as specified in its charter)

 


 

Michigan   0-21810   95-4318554

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(I.R.S. Employer

Identification No.)

   

 

21680 Haggerty Road, Ste. 101, Northville, MI   48167
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (248) 504-0500

 


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 follow 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 250.13e-4(c))

 



Section 1. Not applicable.

Section 2. Financial Information

Item 2.02 Results of Operations and Financial Condition

On January 11, 2007, Amerigon Incorporated (the “Company”) publicly announced certain information concerning the results of its operations for 2006. A copy of the Company news release is filed as Exhibit 99.1 to this report and is incorporated in this report by reference. The information in this Section 2, Item 2.02 and the attached exhibit shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly stated by specific reference in such filing.

Section 3 - 9. Not applicable.

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.

 

AMERIGON INCORPORATED
By:  

/s/ BARRY G. STEELE

  Barry G. Steele,
  Chief Financial Officer

Date: January 11, 2007

Exhibit Index

99.1   Company news release dated January 11, 2007.
EX-99.1 2 dex991.htm COMPANY NEWS RELEASE Company news release

EXHIBIT 99.1

NEWS RELEASE for January 11, 2007 at 7:30 AM EDT

Contact:  Allen & Caron Inc

                Jill Bertotti (investors)

                jill@allencaron.com

                Len Hall (media)

                len@allencaron.com

                (949) 474-4300

AMERIGON EXPECTS TO REPORT 2006 REVENUE OF APPROXIMATELY $50 MILLION, UP

MORE THAN 40% FROM 2005 REVENUE WITH STRONG GROWTH IN PROFITABILITY

Year-over-Year Increase Exceeds Earlier Revenue Guidance for 2006

NORTHVILLE, MI (January 11, 2007) . . . Amerigon Incorporated (Nasdaq:ARGN), a leader in developing products based on advanced thermoelectric (TE) technologies for a wide range of global markets and applications, today announced, that on a preliminary, unaudited basis, it expects to report revenue of approximately $50 million for the year ended December 31, 2006, up more than 40 percent year-over-year, with strong year-over-year growth in profitability. President and CEO Daniel R. Coker said that 2006 revenues exceed the Company’s earlier revenue guidance of a 30 percent increase over 2005. He also said that the Company expects 2007 revenue for its proprietary Climate Control Seat™ (CCS™) system to grow 15 to 20 percent over 2006 with continued growth in profitability.

The Company also announced that under terms of its 1997 Stock Incentive Plan and its 2006 Equity Incentive Plan it granted options to eligible executive officers and employees on December 29, 2006 to purchase 386,000 shares of Company common stock at the market price on the date of grant. The Company has estimated that the total accounting charges of the awards over the four year vesting period will be approximately $1.7 million, including a non-cash charge to earnings of $419,000 that will be included in the 2006 fourth quarter.

“Overall revenue growth in 2006 accelerated faster than originally anticipated due to fourth quarter increases in startup demand for CCS in a number of our new vehicle programs in Asia, as well as the US and Europe,” Coker said. “While some of the fourth quarter increase relates to CCS units originally scheduled to be shipped in the 2007 first quarter, we expect that 2007 will be another banner year with an overall year-to-year increase in revenue of 15 to 20 percent.

“We expect to report strong growth in profitability in 2006, including after the fourth quarter charge for the stock options granted to eligible officers and employees in recognition of a job well done,” Coker added. “We are extremely pleased with the progress we made in 2006 and believe the Company has exceptional opportunities for growth in 2007, 2008 and beyond.”

Coker noted that there are a number of macro economic and geopolitical issues outside the Company’s control, such as the effects of gas price increases and the uncertainty of the situations in the Middle East and the Gulf Region that could negatively impact the automotive industry, the overall economy and Amerigon’s results.


About Amerigon

Amerigon (Nasdaq: ARGN) develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications. The Company’s current principal product is its proprietary Climate Control Seat (CCS™) system, a solid-state, TE-based system that permits drivers and passengers of vehicles to individually and actively control the heating and cooling of their respective seats to ensure maximum year-round comfort. CCS, which is the only system of its type on the market today, uses no CFCs or other environmentally sensitive coolants. Amerigon maintains sales and technical support centers in Los Angeles, Detroit, Japan, Germany and England.

Certain matters discussed in this release are forward-looking statements that involve risks and uncertainties, and actual results may be different. Important factors that could cause the Company’s actual results to differ materially from its expectations in this release are risks that sales may not significantly increase, additional financing, if necessary, may not be available, new competitors may arise and adverse conditions in the automotive industry may negatively affect its results. The liquidity and trading price of its common stock may be negatively affected by these and other factors. Please also refer to Amerigon’s Securities and Exchange Commission filings and reports, including but not limited to its Form 10-Q for the period ending September 30, 2006 and its Form 10-K for the year ended December 31, 2005.

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