-----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, ANRfjvmPEOe/EZ16a3dFUyqNdUZxGCT10ReKWoz5i5aw7vuQ42JNhn67hro4YAsJ an1l1QQRT9I/VflNHlRIug== 0000098618-10-000022.txt : 20100427 0000098618-10-000022.hdr.sgml : 20100427 20100426185031 ACCESSION NUMBER: 0000098618-10-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100427 DATE AS OF CHANGE: 20100426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALANCO TECHNOLOGIES INC CENTRAL INDEX KEY: 0000098618 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] IRS NUMBER: 860220694 STATE OF INCORPORATION: AZ FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09347 FILM NUMBER: 10771416 BUSINESS ADDRESS: STREET 1: 15575 N 83RD WAY STREET 2: SUITE 3 CITY: SCOTTSDALE STATE: AZ ZIP: 85260 BUSINESS PHONE: 4806071010 MAIL ADDRESS: STREET 1: 15575 N 83RD WAY STREET 2: SUITE 3 CITY: SCOTTSDALE STATE: AZ ZIP: 85260 FORMER COMPANY: FORMER CONFORMED NAME: ALANCO ENVIRONMENTAL RESOURCES CORP DATE OF NAME CHANGE: 19930708 FORMER COMPANY: FORMER CONFORMED NAME: ALANCO RESOURCES CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ALANCO LTD DATE OF NAME CHANGE: 19901004 8-K 1 k8042610q3prelim.txt Q3 PRELIMINARY RESULTS PR SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Purusant to Section 13 or 15(d) of The Securities Exchange Act of 1934 APRIL 26, 2010 ---------------- (Date of Report) ALANCO TECHNOLOGIES, INC. ------------------------- (Exact name of Registrant as specified in its charter) 0-9437 -------- (Commission File No.) ARIZONA 86-0220694 ---------------------------- -------------------------------- (State of other jurisdiction) (IRS Employer Identification No.) 15575 N 83RD WAY, SUITE 3, SCOTTSDALE, ARIZONA 85260 -------------------------------------------------------- (Address of Principal Executive Office) (Zip Code) (480) 607-1010 ---------------------------------------------------- (Registrant's telephone number, including area code) 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 communication 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)) Item 2.02. Preliminary Results of Operations and Financial Condition On April 26, 2010, Alanco Technologies, Inc. issued a press release reporting preliminary financial results for fiscal year 2010 third quarter, ended March 31, 2010. A copy of the press release is attached hereto as Exhibit 99.1, and is hereby incorporated by reference in this Item 2.02. Item 9.01 Financial Statements and Exhibits Exhibit 99.1 Press release from Alanco Technologies, Inc., dated April 26, 2010, titled "Alanco Announces Preliminary Fiscal Year 2010 Third Quarter Results" SIGNATURES Date: April 26, 2010 By: /s/John A Carlson ----------------------- Chief Financial Officer EX-99 2 pr042610q3prlim.txt Q3 PRELIM RESULTS PR EXHIBIT 99.1 FOR IMMEDIATE RELEASE CONTACTS: Investor Relations John Carlson Exec VP & CFO (480)505-4869 www.alanco.com Alanco Announces Preliminary Fiscal Year 2010 Third Quarter Results -------------------------------------------- (Scottsdale, AZ - April 26, 2010) - Alanco Technologies, Inc. (NASDAQ: ALAN), today announced preliminary, unaudited financial guidance for its fiscal third quarter ended March 31, 2010. Alanco's continuing operations are expected to report a record gross profit for the third quarter ended March 31, 2010 of approximately $1.64 million compared to $1,127,900 reported in the third quarter of the prior year. Third quarter sales are expected to increase about 6% over the second quarter ending December 31, 2009 to $3,826,000, which is less than the $4 million plus anticipated, primarily due to limited availability of a critical manufacturing component, which constricted March 2010 product shipments. Third quarter gross margin is expected to increase to approximately 42%, compared to 30% for the previous year third quarter. Alanco's EBITDA (Loss) for the quarter is expected to improve almost 90% to close to breakeven, or about ($50,000) compared to ($517,100), incurred in the prior year third quarter. These preliminary unaudited results reflect the Company's continuing operations only, which include StarTrak Systems and corporate staff expenses, but excludes losses associated with business assets held for sale (primarily, the Company's TSI PRISM subsidiary.) Robert R. Kauffman, Chairman and CEO, commented, "We are pleased to again report substantial quarterly progress towards our 2010 profitability turnaround with this third quarter's record gross profit and near breakeven EBITDA. Current order backlog and pipeline sales activity also indicate a strong fourth quarter finish with significant positive cash flow and EBITDA results, which should complete our profitability turnaround." Alanco Technologies, Inc. provides wireless monitoring and asset management solutions through its StarTrak Systems subsidiary. StarTrak Systems is the dominant provider of tracking, monitoring and control services to the refrigerated or "Reefer" segment of the transportation marketplace, enabling customers to increase efficiency and reduce costs of the refrigerated supply chain. For more information, visit the Alanco website at www.alanco.com or StarTrak Systems at www.startrak.com. EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL SUCH FORWARD-LOOKING STATEMENTS ARE SUBJECT TO, AND ARE QUALIFIED BY, RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THOSE STATEMENTS. THESE RISKS AND UNCERTAINTIES INCLUDE, BUT ARE NOT LIMITED TO, REDUCED DEMAND FOR INFORMATION TECHNOLOGY EQUIPMENT; COMPETITIVE PRICING AND DIFFICULTY MANAGING PRODUCT COSTS; DEVELOPMENT OF NEW TECHNOLOGIES THAT MAKE THE COMPANY'S PRODUCTS OBSOLETE; RAPID INDUSTRY CHANGES; FAILURE OF AN ACQUIRED BUSINESS TO FURTHER THE COMPANY'S STRATEGIES; THE ABILITY TO MAINTAIN SATISFACTORY RELATIONSHIPS WITH LENDERS AND REMAIN IN COMPLIANCE WITH FINANCIAL LOAN COVENANTS AND OTHER REQUIREMENTS UNDER CURRENT BANKING AGREEMENTS; AND THE ABILITY TO SECURE AND MAINTAIN KEY CONTRACTS AND RELATIONSHIPS. Alanco Technologies, Inc. Preliminary, Unaudited 3 months ended 3/31/2010 3/31/2009 ---------------------------- Net Sales $3,826,000 $3,758,000 Cost of Goods Sold 2,186,000 2,630,100 ---------------------------- Gross Profit 1,640,000 1,127,900 Gross Margin 42.86% 29.98% Selling, General & Administrative (1,435,000) (1,335,900) Corporate Expense (250,000) (309,100) Amortization of stock-based compensation (72,000) (113,100) Depreciation and amortization (133,000) (129,500) ---------------------------- Total Expense (1,890,000) (1,887,600) ---------------------------- Operating Loss ($250,000) ($759,700) ---------------------------- ---------------------------- Preliminary, Unaudited 3 months ended 3/31/2010 3/31/2009 ---------------------------- EBITDA (Loss) Reconciliation Operating Loss ($250,000) ($759,700) Stock based compensation 72,000 113,100 Depreciation & Amortization 133,000 129,500 ---------------------------- EBITDA ($45,000) ($517,100) ---------------------------- ---------------------------- # # # -----END PRIVACY-ENHANCED MESSAGE-----