-----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, NYMSz8+YTcRJVqDhyR87SeJ8SHt/N7ZEQ/aBks4+wDRgWPlMSxeXiBAFD8FuvaTs 7/D8Rb+HsC173mUrsHXhTQ== 0000950146-98-001333.txt : 19980812 0000950146-98-001333.hdr.sgml : 19980812 ACCESSION NUMBER: 0000950146-98-001333 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980630 FILED AS OF DATE: 19980811 SROS: NONE 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: 98682099 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 NUR MACROPRINTERS LTD. 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 August 11, 1998 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) 5 David Navon Street Moshav Magshimim Petah-Tikvah, 49001, 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 12g3-2(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 August 6, 1998 announcing the registrant's financial results for the quarter ended June 30, 1998, including the registrant's consolidated statements of operations for the quarters ended June 30, 1998 and June 30, 1997 and condensed balance sheets at June 30, 1998 and December 31, 1997. Page 2 of 7 COMPANY CONTACT: Erez Shachar, President and Chief Executive Officer CONTACT: Eitan Padan, Chief Financial Officer Jody Burfening (Ext. 304) NUR Macroprinters LTD. Lippert/Heilshorn & Assoc. 011-972-3-908-7676 212-838-3777 E-mail: ir@nur.com jody@lhai.com
NUR MACROPRINTERS LTD. REPORTS RECORD SECOND QUARTER RESULTS - Record Revenues and Profits - - Revenues Increase 66%; 5th Consecutive Quarter of Profitability - Magshimim, Israel, August 6, 1998 - NUR Macroprinters Ltd. (NASDAQ-NM Symbol: NURTF) today announced record revenues and record profits for the second quarter and six months ended June 30, 1998. Revenues for the second quarter ended June 30, 1998 increased 66% to $8.37 million, compared to $5.05 million for the same quarter the previous year. Gross profit increased 71% to $4.14 million versus $2.42 million for the comparable period last year. Net income was a record $639,000, or $0.06 per share, for the three months ended June 30, 1998 compared to $48,000, or approximately $0.01 per share, for the comparable period last year. Revenues, gross profits and net income were all the highest in the Company's history. Revenues for the six months ended June 30, 1998 were $15.85 million, an increase of 72%, compared to $9.21 million for the same period the previous year. Gross profit increased to $8.0 million from $4.29 million for the comparable period last year, an increase of 86%. Net income was $981,000, or $0.09 per share, for the six months ended June 30, 1998 compared to a net loss of $(278,000) or $(0.04) per share for the comparable period last year. -More- 3 of 7 NUR MACROPRINTERS LTD. PAGE TWO Commenting on the results Mr. Erez Shachar, President and CEO, said, "We are extremely pleased with the strong results this quarter. Our superb revenue growth reflects increased demand for the super-wide Blueboard printer as well as consumables sales to our expanding installed base. In addition, we received significant orders for our new Blueboard*2 printer reflecting rapid acceptance in the marketplace for this new product." "We believe that the company has successfully completed its turn-around, generating exceptional revenue growth each quarter and five consecutive quarters of profitability. We have concluded major investments in our sales and service infrastructures in Nur Europe and Nur America, and we now believe that we have the organization in place to meet the growing demand for our products, and provide our customers with the highest levels of service in our industry. We believe that the increasing market demand for super-wide printers continues to provide excellent growth opportunities for NUR and that we are developing the right products to take advantage of these opportunities." NUR Macroprinters Ltd. is a world leader in the development, manufacturing, marketing and servicing of wide-format ink-jet printing systems and consumables. The company's printers are marketed principally to commercial printers, media companies, and screen printers for a variety of large format applications, such as billboards, posters, banners and point of purchase displays for advertising as well as decorations and backdrops for show rooms, fleet graphics, trade shows, museums and exhibits. NUR printers are installed in over 130 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 the Company 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 to the Company's products, inability to timely develop and introduce new technologies, products and applications and loss of market share and pressure on prices resulting from completion. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission. -Tables to follow- 4 of 7 NUR MACROPRINTERS LTD. Consolidated Statements of Operations U.S. $ in thousands, except per share data
Three months ended Six months ended ------------------------------ ------------------------------ 06/30/98 06/30/97 06/30/98 06/30/97 ------------ ----------- ----------- ---------- (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues Sales of printers and related products $7,512 $4,441 $14,233 $7,909 Sales of printed materials 857 608 1,621 1,304 ---------- --------- ---------- --------- 8,369 5,049 $15,854 9,213 ---------- --------- ---------- --------- Cost of revenues Cost of sales of printers and related 3,659 2,262 6,862 4,213 products Cost of sales of printed materials 572 364 993 711 ---------- --------- ---------- --------- 4,231 2,626 7,855 4,924 ---------- --------- ---------- --------- Gross profit 4,138 2,423 7,999 4,289 ---------- --------- ---------- --------- Research & development expenses 838 345 1,591 756 Less-royalty-bearing grants (310) (34) (310) 127 ---------- --------- ---------- --------- Research and development expenses, net 528 311 1,281 629 Selling expenses, net 1,424 1,030 2,844 1,891 General and administrative expenses 1,173 845 2,358 1,662 Write-off of debts of related parties 0 0 0 99 ---------- --------- ---------- --------- 2,597 2,186 5,202 4,281 ---------- --------- ---------- --------- Operating income (loss) 1,013 237 1,281 8 Financial income (expenses) net (183) (189) (320) (286) Other income, (loss) net (91) 0 (91) 0 ---------- --------- ---------- --------- Income (loss) before taxes on income 739 48 1,105 (278) Taxes on income 88 0 (112) 0 ---------- --------- ---------- --------- Income after taxes on income 651 48 993 (278) Minority interest (12) 0 (12) 0 Net income (loss) for the period $639 $48 $981 $(278) ---------- --------- ---------- --------- Earning (losses) per share $0.06 $0.01 $0.09 $(0.04) Weighted average number of shares outstanding during the period 10,880,000 6,880,000 10,880,000 6,880,000 ========== ========= ========== =========
5 of 7 NUR MACROPRINTERS LTD. Condensed Balance Sheets U.S. $ in thousands
6/30/98 12/31/97 ----------- --------- (Unaudited) (Audited) Current Assets Cash and cash equivalents $2,082 $1,234 Marketable securities 63 0 Accounts receivable--trade 6,823 5,981 Other receivables and prepaid expenses 1,572 1,696 Inventories 3,049 2,252 -------- -------- Total Current Assets $13,589 $11,163 -------- -------- Investments Long-term bank deposit 382 150 Severance pay funds 315 262 Prepaid expenses 84 186 -------- -------- Long-term accounts receivable - trade 0 0 -------- -------- 781 598 -------- -------- Equipment Cost 3,207 2,250 Less accumulated depreciation 887 609 -------- -------- 2,320 1,641 -------- -------- Other assets 307 381 -------- -------- Total assets 16,997 13,783 ======== ======== Liabilities and Shareholders' Equity Current Liabilities: Short-term bank credit $530 $518 Current maturities of long-term loans 462 261 Trade payables 5,175 3,216 Accrued expenses and other liabilities 2,664 2,127 Advances from customers 0 17 -------- -------- Total Current Liabilities: 8,831 6,139 -------- -------- Long-Term Liabilities: Long-term liabilities 1,080 1,476 Long-term debt, net 0 0 Accrued severance pay 438 358 -------- -------- Total Long-Term Liabilities: 1,518 1,834 -------- -------- Minority Interest 39 26 Shareholders' Equity: Share capital 2,729 2,729 Capital surplus 14,350 14,383 Cumulative translation adjustment (151) (30) Deficit (10,319) (11,298) Total Shareholders' Equity 6,609 5,784 -------- -------- Total Liabilities and Shareholders' Equity 16,997 13,783 ======== ========
Page 6 of 7 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: August 11, 1998 By: /s/ Erez Shachar --------------------------- Name: Erez Shachar Title: Chief Executive Officer Page 7 of 7 -----END PRIVACY-ENHANCED MESSAGE-----