-----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, KPtEeBXi69okCq2GnEUgYKiNc1Dq29LkT1HhlKieJfO7x11aFPVGA2Hgr8zj4bFl nqcBqWhMAItbR2sJap5+bQ== 0000950159-04-000455.txt : 20040429 0000950159-04-000455.hdr.sgml : 20040429 20040429134636 ACCESSION NUMBER: 0000950159-04-000455 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040427 ITEM INFORMATION: FILED AS OF DATE: 20040429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: K TRON INTERNATIONAL INC CENTRAL INDEX KEY: 0000000020 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 221759452 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09576 FILM NUMBER: 04763924 BUSINESS ADDRESS: STREET 1: ROUTE 55 & 553 STREET 2: BOX 888 CITY: PITMAN STATE: NJ ZIP: 08071-0888 BUSINESS PHONE: 8562563318 MAIL ADDRESS: STREET 1: ROUTE 55 & 553 STREET 2: P O BOX 888 CITY: PITMAN STATE: NJ ZIP: 08071-0888 8-K 1 ktron8k.txt 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): April 27, 2004 -------------- K-TRON INTERNATIONAL, INC. -------------------------- (Exact Name of Registrant Specified in Charter) New Jersey 0-9576 22-1759452 -------------- -------------- -------------- (State or Other (Commission File (I.R.S. Employer Jurisdiction of Number) Identification No.) Incorporation) Routes 55 & 553 P.O. Box 888 Pitman, New Jersey 08071-0888 - ---------------------------------------------- ------------------ (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (856) 589-0500 -------------- Not Applicable --------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 12. Results of Operations and Financial Condition. On April 27, 2004, K-Tron International, Inc. issued a press release announcing its first quarter 2004 financial results. The press release is being furnished with this Current Report on Form 8-K as Exhibit 99.1 and is hereby incorporated herein by reference. - 2 - SIGNATURE 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. K-TRON INTERNATIONAL, INC. By /s/ Edward B. Cloues, II ---------------------------------- Edward B. Cloues, II Chairman of the Board and Chief Executive Officer Dated: April 29, 2004 - 3 - Exhibit Index ------------- Exhibit ------- 99.1 Press Release, dated April 27, 2004, issued by K-Tron International, Inc. EX-99 2 exhibit99.txt Exhibit 99.1 - -------------------------------------------------------------------------------- [GRAPHIC OMITTED] K-TRON INTERNATIONAL, INC. ==== Routes 55 & 553, PO Box 888 NEWS Pitman, NJ 08071-0888 (856) 589-0500 FAX (856) 582-7968 www.ktron.com E-mail: ktii@ktron.com For Release: Immediately Contact: Ronald Remick, Senior Vice President and Chief Financial Officer Tel: (856) 256-3311 E-mail: remick@ktron.com K-TRON REPORTS $0.55 PER SHARE FIRST QUARTER EARNINGS Pitman, New Jersey - - April 27, 2004 - - K-Tron International, Inc. (NASDAQ-KTII) today reported first quarter 2004 net income of $1.422 million, or $0.55 per share (diluted), on revenues of $26.32 million compared to net income of $835 thousand, or $0.34 per share (diluted), on revenues of $23.40 million for the same period in 2003. In announcing the above results, the Company pointed out that if the average foreign currency exchange rates for the first quarter of 2003 were applied to the first quarter of 2004, the Company's revenues would have increased approximately 8.4 percent instead of almost 12.5 percent, and the gains in its net income and earnings per share in the first quarter of 2004 over the corresponding numbers in 2003 would have been lower than reported. This is due in each case to a significantly weaker U.S. dollar in the first quarter of 2004 compared to the same period in 2003 against the Swiss franc, the euro and other relevant foreign currencies. Commenting on the Company's results, K-Tron Chairman and Chief Executive Officer Edward B. Cloues, II said, "K-Tron reported strong first quarter revenues and earnings compared to a year ago, reflecting an improved business environment. First quarter revenues were up more than $2.9 million, or about 12.5 percent, versus last year's first quarter, while income before income taxes increased by $936 thousand, or 83.2 percent, including a $164 thousand gain on the sale of a small office building in England formerly occupied by the Company. Net income for the period was up $587 thousand, or 70.3 percent, while earnings per share (diluted) were almost 62 percent higher." In reviewing other first quarter highlights, Mr. Cloues noted that bookings were up versus the first quarter of 2003, reflecting a continuation of the better business conditions that the Company first began to experience in the fourth quarter of 2003. He also pointed out that cash increased by $1.3 million in the first quarter, from $4.5 million at the end of fiscal 2003 to $5.8 million at the end of the first quarter, while debt was reduced by approximately $240 thousand. About $1 million of the $1.3 million cash increase represented the proceeds from the sale of the office building in England. Foreign exchange was not a significant factor in any of these changes. K-Tron International, Inc. and its subsidiaries design, produce, market and service material handling equipment and systems for a wide variety of industrial markets. The Company has manufacturing facilities in the United States, Switzerland, the United Kingdom and Canada, and its equipment is sold throughout the world. * * * * * (Financial Data Follows) -2- K-TRON INTERNATIONAL, INC. & SUBSIDIARIES FINANCIAL SUMMARY (Unaudited) (Dollars in thousands, except share data) Three Months Ended ------------------------- April 3, March 29, 2004 2003 Revenues $ 26,321 $ 23,398 Operating income $ 2,263 $ 1,505 Interest expense 366 380 Gain on sale of office building 164 -- ---------- ---------- Income before income taxes 2,061 1,125 Income taxes 639 290 ---------- ---------- Net income $ 1,422 $ 835 ========== ========== Basic earnings per share $ 0.58 $ 0.34 ========== ========== Diluted earnings per share $ 0.55 $ 0.34 ========== ========== Average number of common shares outstanding (basic) 2,461,000 2,432,000 ========== ========== Average number of common & common equivalent 2,583,000 2,484,000 shares outstanding (diluted) ========== ========== -3- -----END PRIVACY-ENHANCED MESSAGE-----