-----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, LtsmgSKh1a7Q5dDqk/Elcv3XQwXYn4lfd0JAkRs8d1oWPlI3GvtezOcx0Ezai4d0 YQoQ3DG3xC0oMGU30cUNrg== 0001005477-99-004992.txt : 19991108 0001005477-99-004992.hdr.sgml : 19991108 ACCESSION NUMBER: 0001005477-99-004992 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991105 FILED AS OF DATE: 19991105 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: 99742385 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 November 5, 1999 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 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 12g3-2(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 November 4, 1999. 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: November 5, 1999 By: /s/ Erez Shachar ---------------------------- Name: Erez Shachar Title: Chief Executive Officer EX-99.1 2 RECORD REVENUES AND EARNINGS NUR MACROPRINTERS LTD. NUR Macroprinters Ltd. Reports Tenth Consecutive Quarter of Record Revenues and Earnings Quarterly Revenues From Continuing Operations Increased by 75.5%; Earnings At All Time High Magshimim, Israel, November 4, 1999 - NUR Macroprinters Ltd. (NASDAQ: NURM), a leading manufacturer and marketer of wide-format digital inkjet printing systems and consumables, today announced record revenues and record profits for the third quarter ended September 30, 1999. This marks the tenth consecutive quarter of record revenues and earnings growth for the company. Revenues for the third quarter increased 49.5% to $15.1 million, compared to $10.1 million for the same quarter in 1998. Gross profit increased 54.3% to $7.1 million versus $4.6 million for the comparable period last year. Excluding M. NUR Marketing & Communication GmbH's results from the third quarter of 1998 (an operation that was sold during the third quarter of 1999), revenues for the third quarter increased 75.5% from $8.6 million in the third quarter of 1998 and gross profit increased 71.1% from $4.2 million for the comparable period last year. Net income was a record $2.1 million, or $0.16 per share on a diluted basis, for the three months ended September 30, 1999 compared to a loss of $0.7 million, or approximately $(0.06) per share, for the comparable period last year. Excluding a $1.6 million one-time charge related to the acquisition of Meital Technologies reported in September 1998, the net income for the three months ended September 30, 1998 was $0.9 million, or $0.08 per share. Revenues, gross profits and net income were all the highest in the company's history. Revenues for the nine months ended September 30, 1999 were $40.1 million, an increase of 54.8%, compared to $25.9 million for the same period the previous year. Gross profit increased to $19.7 million from $12.6 million for the comparable period last year, an increase of 56.3%. Excluding M. NUR Marketing & Communication GmbH's results from the nine months ended September 30, 1998 (an operation that was sold during the third quarter of 1999), revenues for the nine months ended September 30, 1999 were $37.6 million, an increase of 64.9%, compared to $22.8 million for the same period the previous year and gross profit increased to $18.6 million from $11.5 million for the comparable period last year, an increase of 61.7%. Net income was $4.8 million, or $0.39 per share on a fully diluted basis, for the nine months ended September 30, 1999 compared to $0.3 million or $0.03 per share for the comparable period last year. Excluding a $1.6 million one-time charge related to the acquisition of Meital Technologies reported in September 1998, the net income for the nine months ended September 30, 1998 was $1.9 million, or $0.17 per share. Commenting on the results, Erez Shachar, NUR Macroprinters' President and CEO, said, "We are pleased with our continuing record revenues and earnings performance. The NUR Blueboard HiQ, the latest model in the company's line of superwide format digital printing systems, has made significant inroads into the market and we are reaping the rewards now." "A $3.3 million investment in the company by Isal Amlat Investments Ltd. (1993) and Dovrat & Co. Ltd. this quarter shows us that members of the financial community are also confident of the continuing positive performance of the company," continued Mr. Shachar. "With the sale of our interest in M. NUR Marketing & Communication GmbH this quarter, we have squarely focused our attention on NUR's core business, the manufacture and marketing of wide-format digital printing equipment and consumables. Growth in these markets continues to be strong." Commenting on developments concerning the NUR Fresco screenless wide format production press, Mr. Shachar continued, "We are pleased to report that our NUR Fresco beta program is now in full swing. Machines have been installed at several European locations. In addition, the machine has been shown recently at the SGIA exhibition in Las Vegas and the Viscom Europe show in Germany and received a very good response at both locations. We believe that, with the commercial release of the product, NUR will be offering the most productive and reliable wide format production press in the industry." NUR Macroprinters Ltd. is a world leader in the development, manufacturing, marketing and servicing of wide-format inkjet printing systems and consumables. NUR's printers are marketed principally to commercial printers, media companies, and screen printers for a variety of large format applications, including billboard advertising, fleet graphics, exhibition and trade show displays, building murals and outdoor signage, point-of-purchase displays, decorative scaffolding covers, scenery backdrops for theater, television and film studios and more. NUR printers are installed in over 200 sites around the world. 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. # # # Contacts: Erez Sachar NUR Macroprinters Ltd. Tel: 972-3-908-7676 Ayelet Shaked The Anne McBride Co. Tel: 212-983-1702 NUR MACROPRINTERS LTD. Consolidated Statements Of Operations U.S. $ in thousands, except per share data
Nine months ended Percent Three months ended 9/30/99 9/30/98 Change 9/30/99 9/30/98 ------------ ------------ -------- ------------ ------------ Revenues Sales of printers and related products $ 37,678 $ 22,824 65.08% $ 15,078 $ 8,592 Sales of printed materials* 2,460 3,110 -20.90% 1,488 ------------ ------------ -------- ------------ ------------ 40,138 25,934 54.77% 15,078 10,080 ------------ ------------ -------- ------------ ------------ Cost of revenues Cost of sales of printers and related products 19,048 11,283 68.82% 7,940 4,421 Cost of sales of printed materials* 1,344 2,036 -33.99% 1,043 ------------ ------------ -------- ------------ ------------ 20,392 13,319 53.10% 7,940 5,464 ------------ ------------ -------- ------------ ------------ Gross profit 19,746 12,615 56.53% 7,138 4,616 ------------ ------------ -------- ------------ ------------ 49.20% 48.64% 1.14% 47.34% 45.79% Research & Development expenses** 3,695 3,965 (**) -6.81% 1,281 2,468 (**) Less-Grants (451) (480) (175) ------------ ------------ -------- ------------ ------------ Research & Development expenses, net 3,244 3,485 -6.92% 1,106 2,298 Selling expenses, net 6,320 4,347 45.39% 1,810 1,407 General and administrative expenses 4,344 3,753 15.75% 1,612 1,395 ------------ ------------ -------- ------------ ------------ 10,664 8,100 31.65% 3,422 2,802 Operating income (loss) 5,838 1,030 466.80% 2,610 (484) Financial expenses net (596) (433) 37.64% (259) (113) Other income net 174 (36) 106 Taxes on income (554) (227) 144.05% (368) (115) Minority interest (29) (30) -3.33% (16) ------------ ------------ -------- ------------ ------------ Net income for the period $ 4,833 $ 304 1489.80% $ 2,089 $ (673) ============ ============ ======== ============ ============ 12.04% 1.17% 927.20% 13.85% -6.68% Earning per share $ 0.44 $ 0.03 $ 0.19 $ (0.06) ============ ============ ============ ============ Dilluted earnings per share $ 0.39 $ 0.03 $ 0.16 $ (0.06) ============ ============ ============ ============ Weighted average number of shares outstanding during the period 11,004,666 10,880,000 11,209,306 10,880,000 ============ ============ ============ ============ Weighted average number of shares outstanding during the period used for diluted earnings per share 12,472,727 11,436,171 13,059,116 11,424,942 ============ ============ ============ ============ Percent Change -------- Revenues Sales of printers and related products 75.49% Sales of printed materials* -100.00% -------- 49.58% -------- Cost of revenues Cost of sales of printers and related products 79.60% Cost of sales of printed materials* -100.00% -------- 45.31% -------- Gross profit 54.64% -------- 3.38% Research & Development expenses** -48.10% Less-Grants (170) -------- Research & Development expenses, net -51.87% Selling expenses, net 28.64% General and administrative expenses 15.56% -------- 22.13% Operating income (loss) -639.26% Financial expenses net 129.20% Other income net 55 Taxes on income 220.00% Minority interest -100.00% -------- Net income for the period -410.40% ======== -307.51% Earning per share Dilluted earnings per share Weighted average number of shares outstanding during the period Weighted average number of shares outstanding during the period used for diluted earnings per share
(*) Represents operations of M. NUR Marketing & Communication GmbH which was sold during the third quarter of 1999 (**) Including $1.6 million one-time charge related to the acquisition of Meital Technologies reported in September 1998 -----END PRIVACY-ENHANCED MESSAGE-----