-----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, OArc0oveMa1FXSeN+cZKyYgCi6fkHJwJ09SXpGaHNFSb4jS/Jbkd7r5TQJZQroS7 x0RVsWiSTvppY07orHHLKw== 0000912057-00-023777.txt : 20000515 0000912057-00-023777.hdr.sgml : 20000515 ACCESSION NUMBER: 0000912057-00-023777 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000512 FILED AS OF DATE: 20000512 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NUR MACROPRINTERS LTD CENTRAL INDEX KEY: 0000946394 STANDARD INDUSTRIAL CLASSIFICATION: PRINTING TRADES MACHINERY & EQUIPMENT [3555] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: SEC FILE NUMBER: 000-26498 FILM NUMBER: 628235 BUSINESS ADDRESS: STREET 1: 5 DAVID NAVON STREET STREET 2: MOSHAV MAGSHIMIM CITY: PETAH-TIKVA ISRAEL STATE: L3 BUSINESS PHONE: 01197239087676 MAIL ADDRESS: STREET 1: P O BOX 8440 STREET 2: MOSHAV MAGSHIMIM CITY: ISRAEL STATE: L3 FORMER COMPANY: FORMER CONFORMED NAME: NUR ADVANCED TECHNOLOGIES LTD DATE OF NAME CHANGE: 19950607 6-K 1 FORM 6-K Form 6-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 12a-16 or 15d-16 of the Securities Exchange Act of 1934 May 11, 2000 Commission File No 0-26498 NUR MACROPRINTERS LTD. (Exact Name of Registrant as specified in its Charter) Not Applicable (Translation of Registrant's Name into English) 6 David Navon Street Moshav Magshimim 56910 Israel (Address and principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-f or Form 40-f. Form 20-F /X/ Form 40-F / / Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-b(b) under the Securities Exchange Act of 1934. Yes / / No /X/ If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b). Attached hereto and incorporated by reference herein is a press release of the registrant dated May 11, 2000. NUR MACROPRINTERS LTD. REPORTS 12TH CONSECUTIVE RECORD QUARTER IN REVENUES AND PROFITS QUARTERLY REVENUES FROM CONTINUING OPERATIONS INCREASED BY 102.9%; QUARTERLY EARNINGS DOUBLED MAGSHIMIM, Israel, May 11 /PRNewswire/ -- NUR Macroprinters Ltd. (Nasdaq: NURM News), a leading manufacturer and marketer of wide and superwide format digital inkjet printers and consumables, today announced record revenues and record profits for the first quarter ended March 31, 2000. This marks the twelfth consecutive quarter of record revenues and earnings growth for the company. Revenues for the first quarter of 2000 increased 85.40% to $21.47 million, compared to $11.58 million for the same quarter last year. Gross profit increased 75.13% to $9.97 million versus $5.69 million for the comparable period last year. Total operating expenses increased 62.38% to $7.08 million in the first quarter of 2000 from $4.36 million in the first quarter of 1999, due primarily to increases in research and development and selling expenses. Net income increased by 99.45% to $2.54 million from $1.27 million for the comparable period last year. Earnings per share increased by 68.28% to $0.18 per share on a fully diluted basis, as compared to $0.11 per share for the comparable period last year. Excluding M. NUR Marketing & Communication GmbH's ("NUR Germany") results from the first quarter of 1999 (an operation that was sold during the third quarter of 1999), revenues for the first quarter increased 102.9% from $10.58 million in the first quarter of 1999. Gross profit increased 89.6% from $5.26 million for the comparable period last year. Mr. Erez Shachar, President and CEO remarked, "We've started the year positively with our twelfth consecutive quarter of revenues and earnings growth. We believe the strong revenue performance reflects strong initial market acceptance and ensuing orders for the NUR Fresco(TM) wide-format screenless production press. Production units of this pioneering product began shipping in January and we are already starting to see rewarding results from units installed in the United States, Europe and Asia." "Demonstrating our commitment to introduce the NUR Fresco to the screen printing industry as a digital alternative to conventional methods of production of wide-format graphics for out-of-home advertising, in the first quarter of 2000 we've already begun developing strategic partnerships with leading players in the screen printing market who are working together with us to usher in the digital revolution to this huge potential market." "We also attribute our continuing success to the strong market position of the NUR Blueboard(TM) family of superwide printing systems," continued Mr. Shachar. "On April 27th we introduced the newest model in the NUR Blueboard series, NUR Blueboard HiQ+, at the International Sign Association exposition in Orlando, Florida and, as a result, we have already generated initial sales of the new product. We also expect our existing customer base will be very interested in purchasing the HiQ+ upgrade kit for their installed machines." "NUR Macroprinters takes a total solution approach to wide-format digital printing," added Mr. Shachar. "Working closely with our customers, we are succeeding in developing new applications for superwide printing which in turn, we believe, will generate continuing growth in a market that is become increasingly competitive." About NUR Macroprinters Ltd. NUR Macroprinters Ltd. is a world leader in the development, manufacturing, marketing and servicing of wide and superwide format inkjet printing systems and consumables for out-of-home advertising applications. The company's printers are marketed principally to commercial printers, media companies, and screen printers for a variety of large format applications. Common applications include fleet graphics, billboards, exhibition and trade show displays, informational murals and outdoor signage, frontlit and backlit displays for retail and point-of-purchase windows, airports, hospitals, shopping centers, courtroom exhibits, sporting events and cinema houses, decorative construction scaffolding covers, scenery backdrops for theater, television and film studios and more. NUR printers are installed in over 250 sites throughout Europe, North and South America, Africa and Asia. Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of NUR Macroprinters Ltd. to be materially different from those which may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in demand for NUR Macroprinters Ltd.'s products, inability to timely develop and introduce new technologies, products and applications and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the company's business, reference is made to NUR Macroprinters Ltd.'s reports filed from time to time with the Securities and Exchange Commission. NUR MACROPRINTERS LTD. Condensed Balance Sheets, US$ in thousands March 31, December 31, Percent 2000 1999 Change Current Assets : Cash and cash equivalents $ 7,879 $ 9,190 -14% Accounts receivable - trade 15,800 11,647 36% Other receivables and prepaid expenses 4,542 3,673 24% Inventories 12,565 10,689 18% Total Current Assets 40,786 35,199 16% Investments Investments and other non-current assets 1,533 1,115 37% Severance pay funds 557 514 8% 2,090 1,629 28% Property and Equipment, net 2,595 2,723 -5% Other assets, net 58 97 -40% Total assets 45,529 39,648 15% Liabilities and Shareholders' Equity Current Liabilities : Short - term bank credit 3,265 2,743 19% Current maturities of long - term loans 814 832 -2% Trade payables 9,341 8,243 13% Accrued expenses and other liabilities 7,333 5,573 32% Advances from customers 600 1,791 -66% Total Current Liabilities 21,353 19,182 11% Long - Term Liabilities : Long - Term loans 1,397 1,650 -15% Long - Term Liabilities 293 293 -- Accrued severance pay 788 660 19% 2,478 2,603 -5% Shareholders' Equity : Share capital 2,997 2,940 2% Capital surplus 19,190 17,702 8% Cumulative translation adjustment (369) (114) 224% Deficit (120) (2,665) -95% Total Shareholders' Equity 21,698 17,863 21% Total Liabilities and Shareholders' Equity 45,529 39,648 15% NUR MACROPRINTERS LTD. Consolidated Statements Of Operations U.S. $ in thousands, except per share data 3 Months ended Percent 3/31/00 3/31/99 Change Revenues Sales of printers and related products $ 21,469 $ 10,579 102.94% Sales of printed materials 1,001 -100.00% 21,469 11,580 85.40% Cost of revenues Cost of sales of printers and related products 11,499 5,321 116.11% Cost of sales of printed materials 566 -100.00% 11,499 5,887 95.33% Gross profit 9,970 5,693 75.13% Research & Development expenses 1,927 1,220 57.95% Less-Grants (214) (182) Research & Development expenses, net 1,713 1,038 65.03% Selling expenses, net 3,349 2,018 65.96% General and administrative expenses 2,019 1,310 54.12% 5,368 3,328 61.30% Operating income (loss) 2,889 1,327 117.71% Financial expenses net (253) (91) 178.02% Other income net 1 67 -98.51% Taxes on income (278) (22) 1163.64% Equity in the earnings of affiliates, net of taxes 186 -- Minority interest (5) -100.00% Net income for the period $ 2,545 1,276 99.45% 11.85% 11.02% 7.58% Earning per share $ 0.21 $ 0.12 82.42% Dilluted earnings per share $ 0.18 $ 0.11 68.28% Weighted average number of shares outstanding during the period 11,895,573 10,880,000 Weighted average number of shares outstanding during the period used for dilluted earnings per share 14,072,113 11,872,666 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, thereunto duly authorized. NUR MACROPRINTERS LTD. Date: May 12, 2000 By: /s/ Erez Shachar --------------------------- Name: Erez Shachar Title: Chief Executive Officer -----END PRIVACY-ENHANCED MESSAGE-----