-----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,
UfFD6Xg7bENEZ1ao+TO5VrCSz8ObW/uVtYr/Oi8VNU8eOawU6qC10ExFDJNS3Zlw
MOW37jFltUItQ+1uLbZz+Q==
0000950159-05-000879.txt : 20050802
0000950159-05-000879.hdr.sgml : 20050802
20050802132536
ACCESSION NUMBER: 0000950159-05-000879
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 3
CONFORMED PERIOD OF REPORT: 20050801
ITEM INFORMATION: Results of Operations and Financial Condition
FILED AS OF DATE: 20050802
DATE AS OF CHANGE: 20050802
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: 05991060
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.htm
K-TRON 8-K
K-Tron 8-K
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): August
1, 2005
K-TRON
INTERNATIONAL, INC.
(Exact
Name of Registrant Specified in Charter)
New
Jersey
|
0-9576
|
22-1759452
|
(State
or Other Jurisdiction of Incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
|
|
|
|
|
|
|
|
|
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)
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
communications 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 Results of Operations and Financial Condition.
On
August
1, 2005, K-Tron International, Inc. issued a press release announcing its second
quarter 2005 financial results. The press release is being furnished with this
Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by
reference.
The
information in this Form 8-K and the exhibit attached hereto shall not be deemed
“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor
shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, except as shall be expressly set forth by specific reference in
such filing.
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
EDWARD B. CLOUES, II |
|
Edward
B. Cloues, II |
|
Chairman
of the Board and Chief Executive Officer |
Dated:
August 2, 2005 |
|
Exhibit
Index
Exhibit
99.1
Press Release, dated August 1, 2005 issued by K-Tron International,
Inc.
GRAPHIC
2
header.jpg
PRESS RELEASE HEADER
begin 644 header.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`"@`HT#`2(``A$!`Q$!_\0`
M'``!``(#`0$!``````````````@)!PH+!@,%_\0`3A```@("`@$#`P$""0@$
M"PD`!@<%"``$`PD"`146"A07&!,9.5=9>)B9L;C8&B4F)S%QB-<2)#=8$2@S
M-38X29>HN<@A(RDR05%U=H'_Q``4`0$`````````````````````_\0`%!$!
M`````````````````````/_:``P#`0`"$0,1`#\`W^,8Q@,8Q@,8Q@,8Q@,8
MQ@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8
MQ@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,IA4-(J7V4MIVI
M'5BZB5@?QM$W?5PG%F+K02I:A5&BNCUA]=$QHC,>0G0G/2^F/Z&S([G+S7/9`"F__K%=L7\_]K+^33H!_0
MWKK_`,NK+^33H!_0WKK_P`N<\_VZ0'/N=;=T3J'-W`NC9&U@L8]UB8I
M1Y.5"E4"S%FAF5,!JP01`5HFU+.O3I"KCX+#FAOM+?R72P[5V.-R^
MLX!N7J";!PBSM3E4J:UHYOD0\1,K+^33H!_0WKK_`,N<
M?NG>K+^33H!_0WKK_P`NPC1MS,+].+9#V_4!`\:_LAESS7\O"FV_,4M
M]E.V>DM*-L(*\KU=&ZK+`?DU=3D4"*S_HQ.?K@63^U6:QU\5'95:^.2JI24#:5A+$7&Y$^LB>$`18H^P:LZ]AUW,^9[Z!)_P#=.]67\FG0#^AO77_ESC]T[U9?
MR:=`/Z&]=?\`ESD((ZV$C'/WK#;B(B;OO%'6EZH'D9J6GT;,"ID5;TC$FG70
M<@;4;9^W&)##?@X(E-M0OA3UO6JMK+"O)(Q'&$*@KVWB\9**?T_PBWE>&_95
M+KP"W7!/FQS6"PCD%9WQ@6V%)J,"UT[T6H&Z`L>`*N43%O*SX$UI2!$B!7E`
M/,/VKW/!,X,9NDB]EF>HTU0\_P#NG>K+^33H!_0WKK_RYQ^Z=ZLOY-.@']#>
MNO\`RYQU[6V;MNUTS"QMUK8"`W0FP%EE;!2!3()/9'#"'4=IWVE(R"B-56V&
M>I!PL!9#ZM'QEZ29+K"@(1-/9FYE%2!NLMF/E=&N`RL+SH%YS9Z%P0E\&7
MV/IY*[%.YEEN4Y0W'0QSW"4].U0R1.M?)-$ZN7B?*JW2B\L)LW*#/`8\-'LD
M(2:LI:[8_?)6)0N1"Q_]T[U9?R:=`/Z&]=?^7./W3O5E_)IT`_H;UU_YG:H9(G6ODFB=7+Q/E
M5;I1>6$V;E!G@,>&CV2$)-64M=L?ODK$H7(WO-(-(V`"3HB)MA@(X@E_;/;V
MDK8U62YV+_83$?)[7L4>ZUHX%EL>]Z6ELCLG\F71%^RAY>0YX;V@@XHJ=C`B
M!^Z=ZLOY-.@']#>NO_+G'[IWJR_DTZ`?T-ZZ_P#+G/0=9)85'O6WU\G1T3$!
MH;&E(*H%AB8EDS(D946%1&A@&8(28F(9C9W)>>()V7W-R4F9F4W-J1E)':V=
M[>V>?9Y^7E\IOX%0(E4ZK%7^TVK_`.FBM-?Z[_.*`=B/S7\%IM=*3YA\9L5U
M:?'/E/P`<'_D'Q_Y!/>R>[?=^U>]R_V'V_N6[^VM^R`#&_A3:;_S`.RS^\5U
M.Y/_``&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,
M8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,8P&,
M8P&,8P&,8P&,8P&,8P&0`IO_`.L5VQ?S_P!)5?M%V30S
M;5UO_P#6A;];M)>D"MH3>*P`(8`G[NVARQYIV"8Z!KRS5_N_9,!9'@G)QG&3
M>\14P,R&M)1^I_U?RY@E_>^O33ME5APUH5K;7Z6_/*_8*=8IJ?IDC=_[%6-%
M=&``7:H4.#KO1'L#`X_D+#AA.SQ>.1?M6[H2:]G_=N#:M
MNY=?Y[2!E^TN)7@"?J"Z$J",'`%K/K3W;^LT@>J_5H_P`Q[I:E?^,C
M78<43![PG\E-:;-6";-5^_>65U_BYO\`_P!4[VF_X-\?O+*Z_P`7-_\`^J=[
M3?\`!O@8?1%(;H(TW_``;X&'U=
MU^OU'IJB\&L+.)_QL'2&L!=3*'9Y[5@T*4TP4$62HX^,]#M549`7=#RI065KHVEXZA_D5*83]N00^!
MCU1R)*Y76S+O.\)LK85Y23H&6T`K8#(#%[*\'.^,($JS\:]'.";;8F&0`P+%
M*TBTMZ#]Y977^+F__P#5.]IO^#?'[RRNO\7-_P#^J=[3?\&^!D"H]:CNM.JZ
M(8F=WY0$F!8"P;C7`='K:'7\.KH>P%CG79D@BI.1\IXS+6$P/,M>TW_!
MOC]Y977^+F__`/5.]IO^#?`S!2E!E55*CURK&8L(?:TO7I/@Z4TV&,KZ15L<
M4BJPA-4,!9#9!Y1AM39B2#P"88>U"S:XC;?CI\JUIDBAXH4B);1$H.3^0`_>
M65U_BYO_`/U3O:;_`(-\?O+*Z_Q0V22
M2GB"4@)8A3L:4U887W)F1UXX1E=[?UM36\.'EYK7\!C&,!C&,!FH#VC_`%6O
MKUKWL>=*?T&>CH_"_P",O]9?ZHOQU\D_(J=7S9_]#?T['?L_L_SOV#_TJE?<
M/:O=?^H_?>VZ>W]G(%^J._AU[S?\,W]SRON!?[_ESGK_`"7?I_38]?\`"1F?
MZG_64^MH+35JK3^[D]`?]0[_`$VC/FOZO?4F^'_EIBC@#\H^.?I?'_D'Q_Y!
M[M[)[]">Z_:?8>[QOW'WG#SA*7.!M^_P"7.>O\EWZ?
MTV/7_"1C_+G/7^2[]/Z;'K_A(R/OUDU3ZLU?_=R?IIK4@*\?./U>_-?P8FUT
MI?F'QG]+_P`<^4?`1P?^0?'_`)!/>R>[?=^U>]R_V'V_N6Y^VA#5"O:"(_I0
MNS2Q9"CU!.V#`KO`0F"O:96@7*.0+%=PRZ^M7;&A-G[T+SFPX/[6L:&.OLPT
M/.:<=S\!82\/+K>7'.RGCM!;!_ESGK_)=^G]-CU_PD9<[TF_4="_<(_&O73<
MJ;/UQ-@!0Y5RII<4((^78(+L#6KHP9='$<
M=L%G-*2HGLCL/IEW-EK8^P114WOB!FM$E_9'=?\`^GM=`-J3[3F.']%IW';S
M9+M/G"B(<'-<@TF`X!^$(Y(<'=-M+Z')_P`,;G(?"+L64(:KO;G]T,TL!+X3
M%]J]0UHE_7NXS/J!)+JG$&US@!9&!TU,+'D9M0
M4A]977/SH]&6.&JS^DC9F.?\$GV/3(BL%JBLQ!@A4)M$M'WTNFGXIN<_*R_\
M/@,,(%VIK+45F`$[*N"(+.&.A9%8DK6B[;^O7/TF_3*O*A-V;!J!\6#LZW]_
M9KHF=4AX&K)]9;\"^E>/@[_*
M49\*_*/JV_=/C2Z51]\H^1_CM9?9?>_DWVGV3V';^V]D^_\`=^?W+[/0N!]/
M_M]/3U__`']/3-/[Z*S^"S?G\_YI_P!W6JV;@/C_`+/3_=Z?V8$07!>ZLZ&L
M@K-<)(6\CC&81_DX-R(`R"1$R&49U9[*U\CO4J@2H
MP!2L9']ZP:D5^L8D`&;`):',>^6>D5N51'D/'>L.R^Y':>W1#W:)%V6.[)
M^I()2D];]'?&5_V(B)OL4Q;9"PB21I%,,F`6Q`OQ_Y`P!^5@S?
MGCSD).U.";?(R=IBU_\`OP1U0T_^O2VUA'A3:3&H*B?Z=[-5G^*IC@23:6]F
M*,TV8PX,[W`*CK,JLGK"^&SX;&OP^?E>XNA,/,)89V3.P&V6V(_,?`
MF`F"HK?`F.SN8KN=G"V?8C'@PY6J5+=%@)UXJIUFBXXKY7B0>9BL
M$?X2\H/BP^B%^A""@S";$=X[TH'++EV8(LAQK'_<0MWZVNU#IMXJ^2MGT
MW+JT?OQK$=ODW3TTL:O:VE5F$L.*9`3)]OS:=8:)E!\G9(K(CS0&2*8AI$*6
M>[NF)66)*(FQ!N1H7?INZ%8'TFCY_KMOC_HJ5&0-`3O\):K@`INMMG5^TV%7$E]WXQUT(M2,5.";-L4OYW=AN:&B)]"B;(
MU9$CDQ89U/7E(#,1C9O7A'J,/VUOT_U\:7#Z%<"K[/78X)^QUR("R4(:`XJ\
MKA>%LH5@'Y>GW;LJ-:U.+A]W!U=8[R5,16N3ED8LHXE5L&R&5Z>4S-NPMF^;
M&)C>CLGZS;K`E;;?IU"];-?[F/&S,E96J+V3IWYD=L4+J+0/KDD5/(A$FS;&
MV`!=T*GY]DQJ-%#M6:D/[#%!#7.SHQ#@V?"?ZZ[DNO%P5QY[:*1PL!HH76L`
M.U<3!N==#*,DV;Q?*-U@`0R.DW('>(=-G9L(KR-(=
MDZ)(8=W9`6RO=6>D'XA_4@4,`5_/+`UU.I/A2`L([_F;3D?M/CZTT_P4K&5]
M@P#'[KD^`!LQ[<1L+VHC^$1L_P#%27VG6A'*#OV"2'37;:MJW<$"2&(_TL4[
M[2*SEB9-%=-Z8K2ZRM=CB(MP3+4[F&W#E8[/*
MN/,H68CY#8P^;=V_7`NEG!N8S;#@A%3/)];/[P8/)2Z[^X*P":<[".58F6$>
MRT=7/%9..B5>U#.;(E#(`NJR,0=CZ@=DO]*@E:OCB&L`9V-**@=:2MTD:`(AN
ML!IQ!VM]FNIV?P1J$!09/$"[^&CZP-?`CDS_`$1J'B".,TPO,'Z`Y[9J-K!!,FSC*/'`O$VFG!!HAOS
M1S4&XPD5*EF$X6$L$:BV2K)]!Q[6!A\A%F6N=N#/R@)BU[+2)^$CN@4[!(50
M43OUP=]?H8N]6=3$@F@:W^_]AV?U&M@1ER+I^]F4TT,B5J.&G.:MTI76[7UF
M?CU@+W\F"4G"*1W*W:,9\CU9>"\U`8_#C\=BL`=IN^R;!?3ONBKZO6=_[)NT
M2_1Q52#,F+2.V(D[+9G:=DZO.%DV,X%.;!Q`[1]?D$8/GW@1,YR:,%#[C=$B
MX+TBPMDY0&FST+GMKMFHW$QSKW"@\<`%+UZ3\585K+YG5!N,K7+#(*4*I`*V
M'B/HUB(,8_HL=EKD%+`M5\&MY2C*FA2(\N/>\_0+SM`I8VP2I;.
M5[%8#`7]XV`8JVLQ8(UML[/0YP=K^8)H8P@B+9CDYL?B3V3X.?$'/)N3Q7\/
ML`B[8K'TI#97Z_,2:$UP6DN78/D?$@T3.?
M\G3-IK/MLIC:>L@ZP).C%V[`&UNK,K^861&O=6JMIQ?K>M,H0]J\:WD>4'(%
M3^LP?=.YX60\FDC^)B^%CE>$:+,:<:4,`.6'`%[VR_DUJOV&JURL(?\`*PGK"^&SX;&OPZ\-LAFSI6]E#W8J=36`F
MS-%=G^N'1M:_#KDNG*7ZUJ.Z0=J5N;"\34LR]*&!9VO]BD*)R5O!(99=:$^)
M(!T68=P<&VT'+&[!D-MRQ_N_F"!F"O3F8K)-6?9D0)]K]+;DG&FN*D6@/2I=
M5X44<5RC#,6<"B2BF#99D$!K,47XO%6'H\.MN8D?(@AX$%E)<+,]&`"?Z([9
MJ-V4?L75Y1'C@EGM+#Y^6<8$65!N,J^>-%56:%*R8A,33S7082+"`^(-8)*D
M_,S)5.0T=KN6&V5#Z;/FR?/7%^;T#N[1Z)US:9:G7`\_C!:M?PU^8Y?063B,
M597W]0A'YBR6_4N]`=?$B2K1^0Y/TX=J!_/3!77_`$AS?B3#;^U$IF*F]R`'
MV)C_`)35^2_Q%8#\2_N@/TN?FS].CV_!/YV_4]^I+X-^OP&RWE6R-RL)(287_3/8
MW3TC^R6`JIF4R\XN.-!73!R9A[A,)M3>6O`FR,?U1L+,>
M+9F8=@[D=P%0F3`/+L^)Y`R@WJY`3=R:\/1-'U@PXQ(!I-JP@:`RQ3IY*QMU
MFC@V12?/NZ+@V9_3L>"JF7T!]82\20CIV6BIXMSQ7C!!6L4K-BM(!&R`&*1EM;"V]`MO.W\]UG56JS81'L!*VGN_?^
MUDA9[PA*L6`L/7M"0^YV$6'M`P(QZ!:KWI$?+J@6;(/$$JM+P1Y9`&!&=6>S
M92V_%I'J8`F)O;X7/.3L;IZ@:C@-[6FS2"$J>RQ]7E@NWX9,O,YCN,5<\)I3
MZR)BP:`EJ3FR\'RK6E(6-UIE@C(Q':)40C(3+;,>8DL#!2,OQ,FCC05&3&'U
MB#3B"P?AB:+TRP3*@(JU8Z=CM:4T=8F!3J&'#8+(.#6VN+BF1,Q'H(J')'QV
M8*()K=L':4Q(%XFXD@@1F=.H96
M-MJ1PS(D_/RZ,!LEFFH`4]EQ,?E)?QU1W6+"2.BQ7U*ID9%/.9\"0J&HN5P_
M&=H%+)&V*MHULL5@"MK72OX]I+%/,6MMG5=,%0)(K:=;'C.\$VQTX*B4=[<)
M"I9JD49,D$=,"IV(%RI)H^):8J0!L=6!WH'$Q>CZ?SZ#V3&D'68R:O6XW:HOU7R*,LK7=WW0>D&;*]D
MMY6@,0..!;1%G$S&GP,,'@`[_$5/G(HXZ<`S8*<',M0L_C>QNGNY6!MW,F&:
M0+JMR-(#T39S#=:9>:%YX$J69!QAAH,QX.ZEJ!,0L((MB>?*J-6A.?D9YR
MZ,JFQ[6E6C#RHEIY`0=R:\69*F$!*(Q(-]B*,?7Q,V5J5%$&)E4#$E6VO=D)9OI#>*[9ZT*"[7!+*W7S9G5+05
MT-:M9!JVCIIW/'_:!;6JBYB?/U9A$*A=][F,EN"%6A.:)):(9Y!OQ#6US9(0
M'(T>>.;J]UM'G7;`/)PC"-0TN^)[M+,76;[M\OJ4W?:FR!CZ8!ISP!J1L(!M
M`].#S81''1"V6R9?<2D[!L(?07(TY9H3DY-"$2FH4?:)MN*PV,3:&=HP&A8_
MC&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!C&,!
MC&,!C&,!C&,!C&,!C&,!C&,!C&,!G(%^J._AU[S?\,W]SRON=?K.0+]4=_#K
MWF_X9O[GE?<"@')_=3_\*9UJ?S_J;_WBESD`*7.!V<
MWG4^K-H/B_ZEJU("P_P?WOX5^T?(_B_SX<(/C_P`@^/P/O?M/
MVGNOLD1]_P#<>VZ?['S\-2.F`XFRRN@]42L$%7P](-8L.D3#()4Q:;-"K3YQ
MK:U"4L6&B)\`21D&KLA8=L:TS,0>Y(\'.)C7-Q;/CR047Y:LG\K"[6^UNN/4
MM7':=3JVOE+`*O=X)!(*"E]6..W@=QVKK.F>F[/F3ZE-0/+2L3[/!#E/0%`(X3_6"
M=J[>\2@*CS48TP'8']U?I\@F],L(VB:C1)#I_P!YT]D"((*7T]24
MAIF+W-61BY'5UM[1V>#9X.+E\=:.]%Z+'=BUCC.S]GS/Y4P"K]E&0T-&<6U'
M`BQ!([:WMD:5RN&MG>D?BJ_%?<=[SCX_SWI&8F9B1G30TG2I@%1863L0<#=9
M=7U7M,+*%4>=6+Z`:P/TVB1_5$XLQ=3;5+4*HT5T9&5F-$:CR$ZHY.R^F/Z<
MO.SDIJPVON<<=KR,S*[W#K>&S([G+S>?(OJD*#%X(NE<6?3N5`*%DG_EWXE7
M1$PDQ-@BN_($QP$1Y^.A&2HGLCX3\V(-;6G2[XU'QGR28U^"3F?O=WBX^?QT
MQLZ._P!-Y]-Y^`/@783V%`7^O_\`S:85IK281O\`V`?^2WX%Q.*!W^+_`+?_
M`/R$FOE])\'^H#_JI45:OY_]IB4`&RWU6QDCXU('#&4ZXU!U8[+4(-]D\545
M1MBOG(Q<=-0@Y&PYLX88.22+B`UOE$1"Z/%-@^V/3Q4)BL2&PYU.0QMKD*X`
MK)?'_9Z?[O3^S/AGW\?]GI_N]/[,"N&U_9"/U4M!66H_+5NS[V:UOA]I3*'Y
M4IS5?UA4ID4@/[!BVQ.0F'E9M)[(T0`X3ZPY=M;)#&1PK/QQ)%1@<3$A3JD(
M]!Y@IA=967A!&:7+B`8`,0(ZP#:JX\E:THHX?8KU93P*J[/Z-?$`/W
M*AGE:&LEB%)7YF)N1MHKX)0KXL5LYO/@`[NF+Z
M(R]>28-4_P`D(-7KJO9M=;%;*JF--/<6;77L_1MH^PN,@F\G2P$[B%9"/IFR
M#C.8^=;UC)X@?;`9P_H)1T-(9[!?6MPY,S$-&0`(/06DO016B8;?N8_,FD"+
M\C4XF73OM!`\6!)*U6Q_MDQO_*#N(5C+=J_H\&F"N!]Z70ZQ;OU[LLPQ758@.0.73K5
M!.DQ*B2M*4;K4G!-=^1`!+N41L!*@.\WPI(;G!7V/@@H^)XX&5/K/5P+KI3[
M#N&N/3Z'\E'OQ[8VI"_[9D#6Y=,
M-9=*UB@OKMUD;^`[_CA`R&!3`P=:9@G[U9$`)%6$K/5UM0\JXH^ENUZ"=,K%
M5`G7E#5YX9K._0OHYV:\GO7DGSQXF
MX^623*ZY*;6?-*=)K:X+!V:F66QE('/S?9,QLK,?@`EBSTFTP(78LNFB/GBC
MI%++DDD<1#$-SAG\$[914BK`\K7LJC?8_6D)31`$`T"OK#5GCA)^V#9C)((`
M*`EM7Q&B['-F(7D!>Q#9G">&"%[+FA_&1N@;;&L+,W>`Y@5#LM(VT36D
MYMZM-GZJ:TL03T-#K6WH"*JMR[T=`<_%H/CV7$Q^4E_&4CH'6.O,6
M*IC@AN4GTQGS"9P.*";7!T>G@52Z"=X.N>LJS[;I?;VS]6I8EZI)7L>CEB55
MT%4Z%L:,;]K=HT@K-\2I8Y`QRGB6NW'U-W[/L^.)I%=I1M$[[$)&-@$Q4ZY[
MJ9H[^@6N)NIH;C8`8LCNP#+>*4K@Q65^7IBH"L9&J,7!NLU[';H_(6<=`>@(.T!!05N&;47@$'!/RZ'(*I@UB'
M-#0`7Q)I%LR\,WZC%4UL6>$\P(-R&)`WB22"876G$NGFFO0;G8HSN-$V!HB*
M/Y$*E!:.R`)4A$G+^8L.P"@?#/C,9'A*G")AD--C';`,1Y;*U6K0&@N/RW21
M@-%FEXBO0V/Y]B,A_4C)8WF(IT?'^*3G(_3B&>MCN+Y2#9;#>1S@G;8^1`6*
MFX#^4UFZ_"?G:]2;EH)F=`+RT(88-8BM#)KSV/H%$O!P5_0`_:%=Z=>/&AD7
MOH")5
M=4&]T\"J]020JZQNLJS]YJ7E-G[36=&JW178]'!!5UE"IN%KG24"7U1F=LW7
M]4V?("`I_)1)(<^@V)".K-(LEUC@PX++2,_/O:R.0&]U^W:C>NH,Z9X)76?9
M:[\JP%<>#W_5U]@<3X$ZY3EH-2)7E1[(!A;)IADV"I`E4260"M
MFHN/XU!2,"8D>ZD#9=4[2!'BK%HZU;._*%DX%^&M)=$WMDQ"?(@1@#D:6"
M,[[,11\001'NX_+Q\A[9.Q49,:'W'VLG'Z6[Q<^MQ5`JWO=KVP#N"$2RM%OT
MS0AY"3U49.QZ4M`X&;L>][NEK#L8S1E=$2=XI
MB7C^>98,0/\`%*SL9)^BK\L^7&C?JO:5>C^^Q*>I^E(^?6Q`F"/EB]LZ_6L@
MN$RL+XQH4,KP$UD@0+TVT=69Y%B2:T2:;ZS::D:_FN%ZNV>M/DE8'55UBR/B
MY;H/:^%/7``&TIVOOOL(J/!MNQ8JPTU%QSEX-O76QKR5T1=I6Y7S6L^G./R*
M/*291JL-@J$^)_F?W+RH&869/(F2:T837,9AA+V8,6(!+LL
M'XM=^>\QN'FTSSCYR@5B]CC!='IJB$EI9>RORL[EZ3I^LGZE!+M7L!
M8UZ)RU.@Z$ZIE8C_`-X2.::E=(M9<%."KF=L/^DV,B^9C0,VA5W87]10YO1,
M/J1"B+>65@X:QY_539BSZ36%0M,CY!91K#W7!S4A7VL,^J]6DBQ2K8KYKUSB
M3C9X6FS1P)"Q_@V=KP8!9'2+(DI&'%8^9CQCR.2GAA8.?!7_`++/UTV>P5/FKKIB5.O1KQ+BKV%0!>A;=(H^/]*]V+?!2NB#B5)S''NKJN87
M6T=M1T?*P/A*^AMQQXK(VOYIA(_JR[!(?:J=S5R2]@*,NT'Z@+046M]8VS]Q
MQAMPYV=D=<0`;JT&50WUK:&Y3(0*_4UQ]#??T-RJI>UGAP0$A)+7&]'8D]Z-
M54QX"M72G9C>I1;FL-C:/>U+^U'[KM1I92?E"O?-^C:PB7J(+(JY/;'\?7CN
M_'__`&@>Y,3V94,#>LQG]2+"8<]*@U0NMUPN?IF:UJ"I"4):[W$:]6WG",.^:A>?
M$U6_(5'V8(LLQ$)M/S<1,V=.UUM,4]2WF+6XM=P-$5BEUK#D`:(,-CX@[Q*U
M!,BS5NPTK9\"M&L[/U3J'S4^F1Y(3#E+W+=@5]3FMND)GX0^BRIWB/GH=%G!
M!LSQ;903X!#@71-'&?%`3DLOXHVE_5RU*"['DT\]/171!Q1`$X'G2^T5?'\(
MARQ>2!V,;!O,:#WO\`NDZM]L:KU.9*OM9,
M,#=^]M_:1BUX@W8;K9FV.%*XLUD[AL+\%G62H^287YW8`[8$PS7(PB(?/F;J
M\VTS=32]"[2^R]`8-"W[&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#
M&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#.0+]
M4=_#KWF_X9O[GE?B]%<>NFN)G9^SYG\57XK^
MRC(:&C.+5D3MG'Q@4)?+>>"TO?\`:WVMV.[:;';3J=6U\67XK[O!()!0
M4OM2((CP21VM;FV(^/Y^;6COE3`*O;HJ0:+1D(J.F#R8CHS5U8P57XJO5Z$U
MA8#&,W6?IE_IZ!6V<<%]D-V8@?+*U:9!-?`3?\`I:^@X$B013=J]O!_
MY4P"K_PFU/4J4C4Q'0ZNAXZ8W-48L@:111%1WRI@%7MW$95YY-+6D001!)$4
M>,%,%+`*@202V]QC&`S[^/\`L]/]WI_9GPS[^/\`L]/]WI_9@5PVO[(1^JEH
M*RU'Y:MV?>S6M\/M*90_*E.:K^L*E,BD!_8,6V)R$P\K-I/9&B`'"?6'+MK9
M(8R.%9^.)(J,#B8D*=4A'H-7/LZ35LA6BS$0"BL^Q53>\?=4R/-V'3?/ZK.N
M4BAX[:]#$3M@5UH.S_J,/QVO]@#"LM8OU8_J'V3$1]N=HYIF24:4%]K.Q\9N\OQ=
MFK\N&?<^#6Y8>;]H]Y'9"7']^,E=W(&:,:8Z;+5<'75TPU:+^O(@7%@ZR]K^
M@_K=.T3;%404J'*\UQ-O5D:BZWAL
M:XUQKBN4N:1_I[TK=EU;0'QBR6B!`V)=D=,-F*F'8`67OB059QMAR7L+;=CA
M-8$Q*I;11;)%4^PT2,`&G,KNN.\-*1M,)J;(*ZBM6Q#8LPZ@H.@YC-&,QZSN
MQ]A]+G8=14MZ^R"4J4#.6ZK6B*G#X=
M$"KP%)51@AP5<\#SV@CQH/*&P-D[R.!:Q^I$);'ISJ=W$&TE31@-F3VNS]NV
M0J>&EUI5MOS%L%%8]DJ=/+N''6Q,,%[NV>L!R1@YQSG`$-L&VW8^3LQ72V`N
M-E.T_EH2#"SZ\':RD^OQV(!2/M26`^)6`^PY]:R8I$J+;KBG(?\`+JO2Q876
M',"9RBA:GE^N2UX)CD-&*1@7P3QU6@+1HP1$Q;[R,1$H$-9W@?#,M.LM=+N!
M9[-4'!%I0H*F/SIKE%6(53"]%&[H2"Q]%JX&.4\H_P`JI8ZI/?+:8@NNI'BC
MF
)M`,85!HOV=1Q&^[Q*$1.:VL!C5%+Z`7VJX_FE'G"L&P30_5N6U9
MD^`&DX_A=@C8WQ]Q#*R&P[.DRV74A[#,-%6\\&0^7#Z,*=6,`*A5<[/^LVO;
MF`$T#+^TGL?9^JOC<29$P!QM-K=1X-6>J]:`K\3[^D0UB4L7;]5J51"05)?F
M[=7`1/D:H99'Y_/ODH!/'P3_`*S]K*3L4K+O.N=4E@*WK+KW8#>5MD29Z1*B
ME?9CNO(Y(%C^@A:&KLY7^0%?XC']:,D)N3CXKQARSY'$:JMD#_=UB'6@HP;"C5$KBI8^J%=3G%H0@)6
ML3K\"\@YVE"?((6188_/3^I%A,.>E0;C^J77C9_SZ].ZA1,05'TNUNT:S_:$
MZTP!'YB/SLBJQ6W@#XK)31[WGD]MM0)B2#PV8;C*BG55!4WHZ&%9B+]->5DB
MGPEQ>)J!9_49V<6*2!7Q0%9Q]*&RO^GAJ9U90H39(TJV><[N?J@LJNW0T]M/
M\"^.+%+N`'^==K"='E2U&_,)8T$7*8JTQ&O0!V1R6:*U"][]^[7O]3'Z$_TT
M6_\`W@_Y`^&_HA]GK/\`E/XY^GO]3'Y8_+WZH/TN%6MXS_2^K(HQ9
M:ZW):SA$1EX8OU[_`-!@(RP`MQ[\*:&`YS?@Q@%?%/>:_P"8*+C"H&MO59V'
M5;[,4G=5?5IL!/\`7Q7"P#QW$721EV"J4?WL7`X]^O<'KA+D<:;3=@.1)3E?
MP&35"=0:G"C"ZA&TP9.J8-^U`-O8Y"DJ);7J$]>-GT/TZ=?O70W14?X"3=<$
M9)7(\H`Q'R@572"VK`M&Z)^I#>#V=N)B'B/O&(B16@SR`A63(POECK"G9?Z\
MC?387-QAR$_^3LM7L78?K]K68U_L^NC;L>3YFV$O(GX@LQN.`I%9J3G1#RD&Y`04U`"]".LPP.WKIPL(L:VL!C(6H/ZQ/SNUX(XKW!PXO\`JW4\
M4DA;V\5/W8&,TE_&^Z/^1XTOCX)(?L@25C/%[W%X^4N3"05'!D`?[Q*U&TBLENO$K9\]M&S+/VLJ'PT^AAY(0[E
M$'+2<5]#FR6D6'YN^A.IWD/@0=*`Y!K3PE90LX"_@8HS'!G%/SD2P(H)C^'?
M4S]>C(69@]EL'6?.*^)4?K-,VQ=\:N`&&%:AR-IF%(K,*$VV(&3:&'(PR`5)
M(O:\CW9JHL+'"NI'>G'M"9,8]O\`VK7U
M*TQ7IP5B!NQROD/9Y6"`Y2EK+=]S[1$T^$L!..!31K=/`5:6W*026E-Q$S!D
M'.K=`Y486D/UOT:=S@F.192:!'[*\\8O^K8?IU9E`,ZJ@*B:Z@E7FGPR).BN
MR0/V.8((+.?A0?`*\'^F2BB(N=,3IC7))18LVS47#=P.F0VOOWU=6/SM^(O@
M-@/Q_P#K_P#W7'ZH_BJZ_!/Z[/AWR;\&?'ORK^IK_P`]?ZN_R;^G3\._,?\`
MKWY!_'_^G.6_9IQ#/4_?T&[4-FT"^7!`O#:;[GBRTAU8X(8E=!VDK+ZT2=+3
M(QI@IW771G/!K2EWQ,6/7DE(!FZ-68N6D#BQ[R89K8(NV2J+=H]N.X#&,8#&
M,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&,8#&
M,UP?J@;ZVQZ[:"J)UTZ:WX?9I1;\!5LZ3?!5LP/O@2;2[_+)."]F:0<;#^M]
MR0!(Q(>YZ<5KS'#[9]KKR'%I;LAK;8;'V,T'/IO/J(K
M09S>==B?F7"H77D+M$!X)X?*1-N?CYMR3L):1VCJ"WA=:MG?B[-3]0++-)=$WMD/-_'3M?I?6Y0E_C-0+Z4KM'O9V4?KS_`%K/
M/\T?A?\`2Y^-/]62=7/QK\C?J*^9?]DR^!/>/>/@@I_Y_P#=?;_:O\U?8_?2
M7WE0'?5WU=L-+NV*UE:*T6L_&J26OX,^%!7X,K:8^R_,:VIT_(_](S].E1;(
M^XEI5/2W^=I[?^S^_P#L-#[6,U=+2UPZ/F,Y@G[RSZR3^+F__P#5.@W^#?)/
MTB[!OJP#2Z%1`ZQ@#=_3KX66?00R]MPLZR0T"%=5-3K6$XMG[),=:M4!S9"Q
M_@"=JMV_H@N*NV7DU
M<@V77D'90O"Q4^6S^_N\7.+Q$Y)Q6P0;/G#\1)&
M^?AJ:4?(QOCR[MM;7%!6'KPB'X+[OC(#CL3JT;$'N^.OS:?KL1;"#88KT^3D
MTMGAU]G1YOV$MX>G/H[6MK;6ES>G)J[.OP<_%R<7@&:L9S4NZGZD;LM2G9E:
M1&TNM+!K>OR1+HI4C\%"IE`'_GS&`:+PL>U]N8)V8L3F>VIC6:GH90?+J:LG
MI149I0VA'<,9X[VM(2,CO@]8EJ-J[77U42TDO*0X/#X.$\@3JEY;*QDGQDDY*14U"`H9MR^@/:<,026N0
M0HJ&Z-C.8SM]T'U8@_(;3VG$C8[43NAH;I%O#TUUJ#`BD
MM5NQ,W.+@B7?-*QBR=>B/Z^W+S`]$C)3,D4Z*L&"&=3GG=B-\2@BC"J-BB*:
MB^,:XXWQ@?4-M+&,8#&,8#.0+]4=_#KWF_X9O[GE?@JZTBJ7M15>((#2@9H0<''O:/)SR)&55+*B.1X].+`SR4W.3103]3=I4VO;!5]80^U$XU!_A)04Z&N;G\XZ7CO/GV-'<
MUMG4WN#3EX(@@I?3D!XL$R&/B2H-*HF9%"N&AB2&E(O4R_G'KZ.N\5R=0SDY
M8N4XB!J4P:A!I[3X0^KN<'G(Q4CY\&G$^KJ2OI+;FG$P3?@HC3T=.5BMS>BA
M5R"L5H`IU(0TC#+9DJSK:H)^INTJ;7M@J^L(?:B<:@_PDH*=#7-S^<=+QWGS
M[&CN:VSJ;W!IR\$004OIR`\6"9#'Q)4&E43,BA7#0Q)#2D7J!E_/OX_[/3_=
MZ?V9\,^_C_L]/]WI_9@1!<%Q01!W'UP-UR*0?M8,NAIVQ)+(N(+[U@/7]4URL"P.-:3CIKE;/]9ZBKP1E.K#
MQ2VDGZXPE%+]/BZ_Y7!&,VNCD;`^>E*L33LUTI$^AD=!C6.3A&0`8?0[,;OQ
MZQ=>U;4"J-C8B_\`U]77DZEITF.XBFTW#T#_`"L+P0#JMF/24*0!K`:H^[3L
MV,&F!U&&@37WHA?+ORK_`"YGI-*TK@C_`&MZV+'176Q02NXN*XMDQ])J'JA]?J)3O5F&6/\])
M%^4EM=E_05BOQ3IF[,.\788P_8*=KB$7G!0T-7U>9`2NS^/A)ZH'R/B+A8Z4
M!-]NL[06*]+C82WEZX659]V$U@:=BCNM,@)TWZP+D+)?_F7\MB/83#$?$=PW
MRN'"N`"_32Q8U!V1'U[[B00FS)N7Y,K9WY9#BX5!0WMF[Z\A%!:\)C]+2VQ+
MG.@!"M-/[@W/D%-C:KUHBYG6'73]ZJRI..5IM"P\'3%:144X)=@)]@2[@/3E
M5K8[N"M9$?-)@:E6BWQ[]+O_`(LO[W_]RI^7?S;_
M`*]OU3_#OOOGWZ=/Q'^/_P!/_P"0/]&?E7ZH_P`B_#O].?Q5[U_J[R;]T+X%
M5<+#T@J*H$J/N2P=[""P.LN>-DMR11B:$16LZD]6NRIDV8@NI7\;<9!O:TB-
M0P,,P2>F8Z;Y]V]CVL&<7.
M('&0+#]<]L=FS'75D-#$)LA%\Y^HS'^*DM"K5J"K`^2&U
MY!]Y$VDK+$7KB.K$<02B>&MZV)?DU%BQZ0>+6+!K448G!">@5,=9^I
M0R)^&6^R(R(9RY`$^]ZTD0
MDHRI9BNX$+%E8(MK>6X%PS/E'4%M:=7O!K,[>K\.$FURJ/3C`CNB=V*:L];:
M9-*M?4!<59"-0#A.,6P[]`V['6G43L=EA'8W"Z52I0.@4D0'U?T@/N20X5P#
MP37J`W64Q?&9.HQTUDW9C@]8OS]>OIZ7[6O@1]4P5G)^6I>@>YY:=L8<\2PT
M--ZT$D*JM-0HF/5L)D%#I6!5.X0;A3!:<#,O>+L1#1VP/\FR?Z*.CI'SXEAP
MA-^F/>=^K)IT.B).KOXW279S^NC]'3!T';\Z:?#^AHCD-4G_`%+IW8480)*'
MYX)04[-P/XM>EB_:R/BB1:0_;1DEN&$/?]FL%0'I4M/6-I]5D0TCZO\`N)+J
M-_>4_CI@@!4Q2%IVF_7&1S6J(_-4Z1*H+$JV_!Q(FD)LC]B>ED/OB.)TQ:,_
MZ49+\YA#[/N`QC&`QC&`QC&`QC&`QC&`QC&`QC&`QC&`QC&`QC&`QC&`QC&`
MQC&`QC&`QC&`QC&`QC&`QC&`QC&`S4"^M6_@LD'_`#_U9_=UM5FW[FH%]:M_
M!9(/^?\`JS^[K:K`T\&]2`WK_P!5?4;W&5P]-T8*=7/(:$7N;FN.%^G)ZD1
M+L21:7%ZQ\MJ6T%M:5V='6D
M.03*_2W]@)$&.X[7V^'8X?>04ST8(MA^3UXO+RXY&'U_+T__`%]/74\ZP+<,
M*@"[[L^H6S?CS"?HT:=7TCAJ'W_3GX]$8M,HZVM")G=".Y/.'X.7GBV\OA[S
M\8^=D-[4CY+G!0#6@]7GYROQ\^8+<_H8_P#VHO\`P3?_`%<90#]4=_#KWF_X
M9O[GE?,2?[:8V(_7VOLM+EV9#4R!_DN/11_W&?\`XF;A_P"(
M+)`5IZESV!K+UHJG^-7:M?DWPHU_.=DC'V7YB'$(`1_Z.'[B*A*1]Q$B
MJ>B?\[0._P#9_?\`W^A]K)ZNENZX:\'UO*'UY5!T@L[P\G/Q;8&WV`AY'B\.
M/C]=;>UVT%\;!AN39Y?7T_;>'/%Z<'&_3UJ*QC7DM#4AJBI5\0I[N:&M(;/AHAE9I@ZYH'Q\H[5]9*5V93Q
M5,&*>NQI1_'L;4K)\GGY1$?Q>F]IQO%FWZDY"O!X3*O%1Q]Q7
M/S\'KS^G#PIDNA#4J]./T].7B]>+GVP*/+8_BY_3R\_3A\]ST\_+BY?#T\N/
MRT`J;=BL8B?I\.SZGT=/R(ZRW!9U#Q0AY!K[''-#+]&_MVOHZ?CZ^6UY:^
MOY+2JI,-%&_NZ.MKZ_`/Y8AC;,)X2/)
M&[I+Q\.R']&)9SQ9O7LXJTRLKHT%@[XWY=!<^[X>?/
MR^O/]VR(=M^O%M%K\/IP^/!K>7%Y'B=4JL
M?X%%ES7RT_#RV.*9U6OO>/@N]F0Y=CBX_+9V>1*0JVUM[@]>#QUM78X]C1X?
M+;X>'[_\QI5Z:,MZ1+X%']37W/`@VTP.2MJJW:\;
MO;6MH>,80?@3A+X6&TI"7AA[:G2STA=K;VY'U']GP"(:TTMKL:^JS\?*?Y^#
M8BYGL?.2;6]8G@]?/@WUE4:8(R@8T.;PV_*1\>7TDUHC(F/G-KQ]/'7YO+9D
M-S4X([7\^#@U?.]W23=G6#WMS5KBL0EF`'&5JX"]:,F#OSWMX.9VC%L^#:4Z
MKN0@]([PT_32`BGC]5Y)"^M]Y)BH+RAG-M\/)HS<+M2$O_HN4+OG78B]'WL:
MVAS#2#K5*0GCS\WGR>LCJ'CE,!^)&?/2X?3A]>'[;E#1!G\._M>>SQ\W#Y^>
MEK\.KL\>[L<^EMI3OM0R]-.QY0SV-.K;R!&[7$GU5O%,`*TYZ3
M]-6=YG0,#/E%3OA-C'+`#6S$16U.>A?M1&KI>.KY<_KNZX0KJ[]9)UK->+C-
M.R(6[JIE_I%Q_-/;6Z*\CD67'+\OCZ^,AI#Y*M?#=/Y+5U.;Q]?/BVI=40'K
MSZW)Q^OIQ_M_3DX?']JAW2ATPN&V<9V>T!NNZ3XN$K!RSUXA%3-6O6\JPJ>*
M9[<+I11S2U\Z\<;!!@'=@2;:$/`0FIJ$-HT)D>/7T"31FN/5G>'(-D/I$>I-
MU^._OK&!':V/'9UHH7
MW!?UU/'7X-'1VM6.\/M/71;WX]Y?3X=U'F`K1QSC'(:UL]50II.K2`\H/\])
MYEC2X9!2KY-?2$U/Z6QYEX<5ZPYN"^_.2OI"G.A'S8_.Z9$/CY%'AV,<8Q@,
M8Q@,UOK[_3`T&[$;9->XKJ;MOQ=FN#X+\E@E)B$!-'\?K4.5T-[%&%B`-B
M#6^Y'PF*W)/W`GD_VTQL2&QJ_9:7+K1^IL@Y\?/_`/-Z_P#^?V>F!J!_Y%9U
M9_Q^7^_]Z==?\*V9?KW](OUNUK?B/L6"NR[TJ;()OK1U!T66,A#[PK)%2K-(
M4Z'H\ET8>M<%+[@_N2\%J:\SJQ?+!,5/
M14E!3H:'S0)-!^9$S$.+(:.(Q4L%2..V8F-;+R]!C`Y57U"_P!/05=:15+VHJO$$!I0,T(.#CWM'DYY
M$C*JEE1'(\>G%@9Y*;G)N2\ZH)V7W-:&4K:F=G:D=61VHU4->2YS[G!3IW:L
MF=]`L$Q4]%24%.AH?-`DT'YD3,0XLAHXC%2P5(X[9AR$:)1Z8UMR(G1^=B-S
M;BYF&E-/:CI2.VMG1WM;GUN?EXO+F$]BGTG/8H"6W;'%0I%C[TJ>6$$J=IW>
MAG$KP*15XJ43'`/:QOP3!E''PKXC1C(3\68S16"
MAP:DN;/?TZ'?7^ZP.Y6M]A]'W>C+Q8'B8%A%!#_WYW7YIRT./".RXH_@AM+E
M(&`OY,?%Q>':*^]..6(HZ''8PV4>KRE$02KIR8`_R73O5_[C7_Q,T\_Q!8_R
M73O5_P"XU_\`$S3S_$%@==03+!4]%1HZ!24?-`DT'X8L#C$3F8XC%2P5(X[6
MF!XE&B&'V=R(G1^=B-S4E(:9B]S:CI2.VM;>T=GGUN?BY?+T_C_L]/\`=Z?V
M9I/_`$]"*[_^M(JB*KVHIB0&E`S0@Y^31WN.R53B,JJ65$`<7IOW<
MEYU03LON;,RVE+#:VU(ZLCM2375$;SGW.=`KNW8/'_9Z?[O3^S`H"[<.SEV=
M?EL:.KC6=U0$%66T:_MK.LYR600#=;TPG)BJ*VTFAY2$/I+BU"/_`"-^8?E0
MFL0A6PP_P'?B=\?'XC,FR9HX'P&(D_;>U-T*:4,F"R172?M/V($Y`W0&NRE1
M`BUA59O$J'_!RMP-W8L#FB)@GD>0"E/%,3O$_3?@S]V18C"7A2@DRT)0O.E?
M)2ZZ'6T57`NU2"T*R&V`KM(0BA192\A7@O(Q@$8MDQ;5
M*?3A=VMN``8_/[3V.M9UQA5R>H;SK^P&:R%^..!:+BR^CM$`X=0_+%[OD9(6
M6(%.\!`?5U@!L@\=H.W]N:.B@$%VF&3RL.^8:TI.29P!Y^E]M+*W4*E`SE]X
MCXU4X;3^Z+VFXGA35WUV?LK=H8D9@.8RC34.<6-G-8.'U";QLM%/;TF@MS@Z
M]-!/B2JLL/9`QFW`0U9C`DNI2\5;NOMK]?J![,%^EA(J8!5*I%DK>E!;''=5
ME$T2[%3#R+`X^$X*BV651LD9`5&ZT
M6G3>V)>XDV]Z_JVK#=7X%H.NAR*I^1J9)SKV$%M$".U:H['Z_L`M((
M?2U2"!`5[Y!Q6HHL:#VA$LISC9/U"/_99W$-.N7ZYA*E*"_4&P.MZOX2Y[
M:R93!$>V'!A&_O9X]#+.(@AH@'V`0?'U^0%=TGHT("'G%8&(E`3:9E2@28#I
MYVE7*,'KWU,(/I??>STP0('3$FS&,%BYVO1X(6C$53&VH?W]O.HHJ?\`:#M+7!T1
M$&G6[NM3]5..)>2X@)&=*JFV?Z]A^+WEL!,Y?>D'-Q!.GW/$#6XR/%MRAPIQ
M_P`9$$(*S[TD&-%K(Z`\4C9+EG^'=H4<'1W7BQ&2U4_9FKG8P0:B
M!5UNJS*4J5(6*VX*BHJW$NO3%/&S\>S6CA]WBVK+*B1X?3C\YNM+]09AKOC8
MBX-V<$+7'SY/TW_8-ZLEM4<[5^K[FHVP%KK+L,XG:W_)JXO%IW;28\DWY+2%
M;5ZZ$J0`WV8^!+3@5N_"OF2(^/5$9,EL+/65>3"8+Q(HO\7445+Y9]-768F"
M(@GTWUO6?`.QVP-L6/`2,)P3I4NF$TS(422Q"H^#UA8K(+"M9I-G;\HR(:DQ
M(U(32X'Y1P[;`)&8G?RX#LZ[N""K786HJ**BR77!7K6YA]-S+V9MSHVT#7D8
MB1>9]/0.D)C0O6[5&EVIR!3KL:AFR7;-J'HGQ4R%7@K);6)E\$PY,>[?X`CW
M5VG-NR$ZTS>]LK:3705K,WE('`I#XVL^L%1-[6H.W^O;`VG7[/ZZ[!_B
MK3F:7D520[D.P(<7"[Q,.+JT6LR-?=TOS`S83@,"XU+DZ9--:0_)P:M7C^
MOC5@1-V#T(-GH%%=RT$,VMQ^C^TFQSM?)NW\>$]FO,=SV@@GZ:#XGMF*;AK5
M\K3\A:+K`6-8"!3LF7FC6?@-)X?"Q,3E&9M$@Y#LG3#,$#=3LU%^S^M='H.U.QO:]7Z.(SVB2JI!M)M3I_0-#`JMH2.`A83_
M`'*:%1&*@E7ZM*)'[\%+[C@W)>!"1<7T3J>X.!ZLRQBF62M\.$D'"WTW*NR$M;%')]'
M&,MPFPX!!#1]N+)&3;/.P.0E)+#O8L/;/VC6:.8XK6]:>AB0:RI1K@3[.+14
MLD2IEE3CCJ]1T@5(\?)FZ8&&TT>`@"[(CB'L+,L>6)BLJ94BF=D!9/D4"S2.
M_7<#7AM-W5WZK'^\(ER(!J!N?NC5_P!4GZIU["BKH(?U3-.\?Q3:>'Z?W%O-
M4+_3:OP?Y-SPBI_(J+L@1[WM/$4EW_2]W\P^'R^HN]T@L\S'8<5Z&Q_RKX,)
M^RIE1E",2NEH(2T';L0537I?+MB;J8[=WP'$2%C_``,G:`0P43PRO+66@D!\
M:9Y:RU.F.3RTX,8G!;+J*5E\;DJ&PEO.&O[122!^WEETC]"K`Y$-,Z(XG1U/
M,1@;+VG(F`;EK>K^!ELZUSR!K0$@B65A61GD3XNK0;D8(<^B40?6OTXPK`BM
M?T4S;9$!G5RH:?[,TI6L2!$['+=^Z8KV3P(&.U%VTB!;KLZ*(P(
MV@*N"-CMPT]8`NGHK;@XJ1!)X,@=,O;(_>QIA><.0R%8'4J?2D"$L6PVM7(3
M-$K(U=L^SF8V5X24F:JK:CU>!LP2#AUE08F(VWX?B6(_\5#]`AY1*9%G4J23
M8V'LI!Z[NF_]%%CH.T9Z[5^TV:%4`2'76)_A^M_ZK^UTMW6Y^76Q^K)
MZ:'8S+#+"]%-*^M-VS+CC.);V(!D8L2UEE6D;!43X_!FE(#(`-S
M=>U^GCW.7):24H];]P+(H_3S\98JMK2Z&`"$7LE5$:.S/L1<)A4N/R_M!!$2
ML%)^WR&Q]A,1DA&;7[+=TMG@XNIWC`Y@G[RSZR3^+F__`/5.@W^#?'[RSZR3
M^+F__P#5.@W^#?.GWC`QPXUF/.I1-1-EVCIR8HVEN<+,GC9#@\=K0D!X\&)0
M6FM'>UO+T]?'8T]N-E=G7V>#R]/7QY>'D\^/U]/7T\O7TSC0+SI2[1C!V@R<
M):%W+7^J4-,96D^R9BKKCW5V$Z\V6Z0M*G$J9ZPQQ!FV%C?'M<\]O$^N4\8Q
ML0>ERRO%/^$5Y^,CZ=J;&!Y0$#(%<`X:O172X8T7`Q0=#!N.U^/QXN#0@1>(
MTX.'TN#B\/3T\.+AU8_1U^#CX_#T]/'P\./Q\?'T]/3T],YY_P!6?U6V<:-^
M%I9^J%6G:^8QWI")A&MR(!%,1H[T0RE)(\@UJSA_O+T:G^/2V"%;R:_'QKDF
MO76W-O1`M_5U?+8U(GQ\-;HMXP-1SZ0BBKCJ34"S!]8E$,I!MUU6`CX77&6^
M`D*Y/9)7*L$A_(3F.<;+8R)(M2#YS%@,O5B_+?T=;QV^72W=W5X^33Y];:V*
MV^]#Z8RT!3:8SO5UB:.J8E!\4WO4I5A-%^7CR1NOM\'/LV*DD-+0NSR>FKZ\7AND.XSN7EXI+[C2D9/P
MF/3;U_2674-]-C>IL7/@[Y]MOA+BFJ%,N+;_`!`YRPHA@NA[LN!W8X@&IDSW
MQ,@)-$7`XJ;U-7DDX^?G]4IEO8^$:XQ'2%-WCE?/H;8P&,8P&,8P&4>M3L1W
MI?LGGNN)*]A%0%_8S8]K^-5G:/6G*5/
MXSV^)%_:(?=CP7:][,HS9V9>\+-9[9ZCKY1?>]:+LA65AU`FJWVJ4`BE2HA!
M][SG[@@0J)J"OW%Z2"V#F[75GUIX2"?=-=1>!G-H]\3^.\4:4FVS`Q4&T=@6
MF!,,/-COT6".:;+2K1[D*`B[-3[`,E\CM[Y
ME_:"")D(_P!S@I63A]_[?[J,D-W2Y>#9YO*@5S
M]:NV)]1U\F**Q*;=4BBXM5L(:.EYV,%(2R1\VV;*I'EAN99D)?S^<<=ZTQL<
M'!$0Q)O0T0.Q/ZT;)*#6";06?ZLV3Z-)D\TW(.3C7M-:7OJL3X
M-C9>K9.+Y4R#?*RELQ9T#@X+*`:S*>#7G-/D3#\<8;`_3`WY=@<3A\
M>W:@`/MU0*IJ<1*`@^[??`O
MD:]18EV^=<)5LVJ;\8@D/RC74=?*?CC9R2@K7PQ]%[LS$3V,;<0&D$1$6E2&
MF6<)WO#'`$E13,@IASP9LO62/"'GT_TK6F7_`%M=-%.YD^0&RS>N[L^5UU75
M.QA2Q>8$*%8$OJQ[1E8!72>TJM(@FV!L#[@&M./BBP8"1WEF-&=U]DJU-+6C
MY"3]!U&])K]ZY$O6=4G374#%V5%V/&EW3&9$^0TC>#G%69U8'%1B$'&M.8%O
M'DE"`3L&>[?'#2,IL0$<7)N#UF)O>(>;3'*GH<"3[??"PTBBXM5=OG7#+;-E
M6^Q4$D>4EZCKY+:..W(JQ57&)>O=:89G8P(1$,0>L0ZE7IB?"2;T-P,4J-H8
M%7G.4FWGL#W!Y]*]T478?V;\.]N=`3#Y`_T%5R(__!B[&Q_[MZV@_(_X,!O]
M*+_PGV_SC\2L'_2;:_8APS\?_P!,"`?]UA/KP;)LL..K;>7-4VYMZ"K&VMK5@'!:H3_(?59J>0`.<);7)
M7@K7A!';.N3R@A"%?_2'=ID8E&I6\EL+0&&6318"[>SQSI$+P_C&&PG$$FZ)[2Z8`7>K3OT6#@(I
M(377
M68F_:/9AV/ER#?C(K=R^(=OO@=\]==$7[?.N'?E[9D"Y&J[#VSU'7RARIH2+
M5EBC>8LG[M^N*TQ'9:M(O$:$2`_\`]<"GG-[F
MYK?C3W.;(P&(=GL.A`DF`#_Z;^_,L3TOM&O"B@*_MS3A@`Y\#JX:FW.*4>B/
MV78'V%7F-@H?"8-&G+&+8NEPO\K=9
M*PCZ,4ISA78;0%X+]I_G$U@>%3]=EF!W\L*RI3U!T+9;<6C@ENQT[7\/[.P#
ML<$0T^W!TV'2?Y%&L4!'&FO]#?V^6X3Q_P!GI_N]/[,U/NM+IY[3.M']&,$%
MORH#J$E(P+"CCHX&S.V*Y_A-6;G^[T_LP*8KN=XE:J`MNP2@?"5L_P`LO7RL
M"]MYO$@,/)`B%66FF/8=4U:B]U;>>X^H8D\"")(Y07:-_?G?;DI%QSHW<*J\6?U0FPO8^;]7Z[9.MHUXW17E?H6Y9]#\9?,
MQ.O8OR8D6GRQB`3=T1F?]07G-.*.4!9*%2_%]8C5'JQ\@7JZOT%V"FB@.G,7
MN`9ETJG[K)05UUC/A<-'2`K>]!L'ZGAU?H)_=:,+U7&)>X(VOD$GZ])33,1F?"]-R\@K6N66DP
M"R&R0RB_F0GS();958]QEFUQ+SACM[@W)GQAXJ!Y-C1Y8X(P*+O=KV]ZSL2V
M2IK1;\J4JHJ!O76/^7V>L\&1P"LCK"6+K_N0'LI':"']T8'#^DVP#>]JA=N1
M'.16`/V_$5^;:*@I4D?H$+WB5JLHUA%,J5*V?FC8Q(*+PVGP2`\D(..C8Z^E
M+VC?8%+)60E'UKRM-[_&OET`%?'105]N7\=\5C_CD5._(
MR/3_`&V[[F5S'[3@^WB!0KI4JQUVLE4M)*'U@"@@3]0#JE(SIM(J74W#[RL8
M%L3&XLS/SNN)JH)W=E@:S--I6"C)6/D(PM$3577G;_`&=+L2^>-)6QYENT
M=X2-P5Q":L%CKD)U3[49?OB'U^P(P@*$`32498+9"=7=5F\RX:%C]MFZT%%:
M\@'IT]!U@/BWS6\5_P#_`%?W_F^R%9_=,I$L#\7O;_-'XO#E]^9ZXM#XS7^O
M_P!H1_AU):?^AVI^0##Y_KL#_1?XSA\?Z"48OG*LG,F;AW?2.R@7!:QR5B6H
M!OT]WDU5R1N?P>F@]`%$+EBTZ/8@33\I$>/A'"ROD?.>%0CGY)0G&-*.-B4J
M*)P//A'U%%6&(HJWNT3JO?\`W06W;`XT=7*5D$>NAV'9]F-AV0Z!`]I"L,[-Y])]JI8-S`0]Z-1X>L%#KD0JXL^P
MZ^=@#@@4"NRI<*F$*BI9N6>()H5XUZSE%KGG`Y",@U20+:$)X\-=@!^<$_(J
M\@U@W8)N0I5/HQ0!T=UJ75)411F)=5GY()JA9\6MY5!K3)"D.5RUXA&9*HJ+9'W$M*F7+2XRIYY0
MAWG^4BG0C1Z,C()::0"&?ZQ=D]<;0=?>IV80WBP%?67\?NQI$&RTA?5^=AX)
M7\G80RQYV=$UC-,W[W[+\9$TW&1@G)$TQ*P_M_CK1_O6WY0W#$"`[UDG**P5
M:A%3J_ZVTG`P*4JVK$&Q%$HH3]8IW?86T.I_N-(,+I#29NUX`WIZ!&](2"1J"2U4-.S-WSJKB:'[?@VQ7PGF=)A+1A'Y')19ML0>B(#HOZ#SZ9
MTG(UQ1]=BNR%OS;]*[`JPQ:FMLB.E%PG=:9BF.KO1J`X%T!#B-'ZRD'Q^%(#
M.!+B)O5]9YVUHC4>'K!0ZY$*N+/L.OG8`X(%`KL
MJ7"IA"HJ6;EGB":%>->LY1:YYP.0C(-4D"VA">/#78`?G!/R*O(-8-V";D*5
M3Z,5UX]Z-1^R]MBJ90ZXL^(%)96`QMAHR+K5,(!"OBO0FP^W6N4B8\@TSPCU
MC0@YS;5]9'5F%MX&RSX8[QE1B68D6UA`Z6XOZ#4Z5*L0:)ZZ*T!I]8`(276G
M8`'M&IPJ$*EU)_E=[`9C(G\:!!$N1J>L[!SRV)5QS\<[Z]+OI#<+K]XH>TUGTW5QTI^_A98\)K(B*U.MF$("67)^(>9DR8S'&FA9>CFF8D.RH8.#8K1Y+_`)$`C,6BSBPQNO(@
ML>;19`?[/(WRP(7J\*B$5FV$4SZ[AB8:5$`)KOR(`)=R@JO)DF%1(1CCF1%=
MDX]1,8V2+8@H^(%K^MX?M7:"LMN.6TEGT2UJ@C[2AD/Q)3AJ_LBHM(N\?V`Y
MMEDA#O*LCLV24@.`GTAQ':UB&3D16`CAN*DPX9&RG:(2&L.)W6>N
MA^M!FH9@,)I*VQ%OPY1-9[!)VQFGM-R0G04HC%F(#ZN^-D'B-0P%&*03`8<)
M#EXMAD?C]/2"(+UU@K@8IXZ&9A,,AA[,H/DX2*ZY=#++DC-2T!A'$6M&+NOIH4AK9'ERU?J#ZC[
M%54I=KF0=W]&KC4'Y4R.G3M(:$\U[6L+CK71].=.;=9EHLC<%IX@G6MN;$O%
M)ZN&@^2+\Y+(!CT=UJ8=H#JW!TZK/DS6/;OTVO?(\6R0I
M"+%8MA40'VF'5\6D-#CR%AMGP3\2$M3<$2;3E).59A/'"8G)[S0\2GU*R$JA
M^5_2RT6-J\*&LA18F[\XMD6/M0-67C,FM;IV1$`MO-L,>Q1"">K/5:E!8"(/
M-K">_/;+A7(R'/TO%34F33*;!RB8T"6`2'H.Q:\E@%_:?L$2"GL18!`$%=>D
M%PWD4X1IUZJ`6*PH.U&Q=6?C;$#CR,BAP,W8][W=*2K":UZ9=>!2'Y1R&/V4
M&E$$0;*T.Y.?_7M<\[>*LH\#-)96`*&:X.L"M-SV+;#\2P\)5@B.V`.!4.7+
M+\B#NS$#\18"7()>09/XE@@F,A]!=;'OD9LZ6EQ<$3Q8@?W2V#V/OZ'J;,)?:&;36_90DB*@0%,`E0M)D`G(D^8$#CO
MT*P9FSJK6RK6HEOV`#A+5ADI&-K6C]"8E%%`1\46:Q&6[4X9S`5@6=[.F+2C
MNYVZ],=GL!JUR<%`$F?HVHP_#U8A#LFN2[;SKVH00%(HO._!'$!%]^/\1`R"
M4<9SVFM&`A]AMGGENZ08&P$('X`OEWF.@;'.R\`%TW;^D7Z(E_0OY_8"-3E!
M;)M.M#3LFTR6:W/F2I([\-("W';<%STNX#K9K:X.MA")BK;.62"4J]6#"NI-ZZ/4Q&/
MV93S&=S$92?L4Q"X"=3')V:L=)F5U6?\`&]-8^/,*TKST;F6?8+VM605!9)V2/(>J
M_/KV0KD72%BW*(/]IJJ4$%\TQV[
MU@ZP1#>`_G0`.$:@0UE;N#6P+51["6R)5<(Y8<2(>_6G:FUDQVY]D]%6F1N"
MXVSJN"H0S1"M`%H4O"W+"1S7J&];@6$V8V4,B.IT04I]4Q`="BG(6,$X,"H:
MX.=2#4M,D9L?;L^3Y`BN_8?%4%V*VX=5/+/P5?*-7?B*ARW$+:%7]YF#$CIA
M:G#F3I'\/ZW%E(,J(%Y:,GE1&4GEC)[@K*+UKHB3"^(TY(%\$*\R`:=!*,9A
M59YB,VX=WS=K6M(*QGYDW>;?IZ&,Q=.6G4C!^E=GN@2I7TZ!-E(.!>A.B4*C
M@*0+CBN"87K-86O/1Z"4855?MY488'/
M]0?4>O#")UX[4'=]7;("/CC88TZ>H:$#HX$JJ>,Q"*!:V^DH`G9$0Q")/GC$
ML'`"7&OE^#F-KET5`;;#'96Y7FP#OC7/Z"^O?55CKD=C61=AD9;_`'"!85_!
M;+ZI2K5DNF("'ZL/6Z'(N/EH*;BG#Q;J_P#;&:428M)[]@XA*CFQ,!LA"#T]
M/$!RE(AJ9`M_TJ58O.8@I_8@^L`2%L=7\"JX]):$*ET*_JZ1*\>RVLO$`STT
M(15:L8'??NU:ZYK+DU4M*M!CR_*BDP=8%[4/>&P8A2`Z*K1-+BPZIM+%Z2V\-Q"S))YD$LY%7Z3LY/,DE8_/R1
MQX;0$3Q1$1Q`NJ$!)^[?8HK*0$:*74ZJ[`6"=MDOS7N)Q"UH!QPT:9F.5S5D
MBX'21Q.H<&ZU$M_X<):L9P:`5'EVXTV"1DT".JT`.)/RE>&)C!P]Z-1^"PZH
MK64+BSZ^-F&04R69M(GZIA!B.KK8>_BD.G-6.LCW&-L\\FM%N`L%@+?CBG<7
M*W9:D6!5*18^RFD*[.L1>@YC68"KDSMXK_P#ZFE9\<_#C'Y64B2,<
M2_\`XO>[75T_BE!G%<2NLH;^JB%YHQAV`]O2W_7FF.0I`K?Q9"^ZC,J)NDBF
MQ3;$.MK(3=@/,@&F!4MRD2TDV_O&8(UGM1=;,-356=S2,F+$F5C9Y@+`,8FU
MP2'A%/F`#FM,#\$2NL29!!METD4AA]S?4'U'K]:!C5':R#N_$-99V?KK5N7Y
M1-#0C=%9@@M*/EYBGCH9F$PR&'LR@^3A(KKET,LN2,U+0&$<1:T8NZ^FA2&M
MD>7-C]"KK*SL2J79C]2$!CT=UJ8=H#JW!TZK/DS6/;OTVO?(\
M6R0I"+%8MA40'VF'5\6D-#CR%AMGP3\2$M3<$2;3E).59A/'"8G)[S0\2GU*
MR$JE_P!>-$%[UM5?%:CJ)EN!EJD"(#&9`N5U[BSE"H0CCD@VS&>$X^862O5>
MM+#_`)FTR5%VKLE480E6M(EDK&>A-Y"T>+CP\$W\8Q@,8Q@,8Q@,8Q@,8Q@,
M8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,
M8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,
M8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,
M8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,8Q@,
(8Q@,8Q@?_]D_
`
end
EX-99.1
3
ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
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 RECORD SECOND QUARTER AND FIRST HALF NET INCOME
Pitman,
New Jersey - - August 1, 2005 -
-
K-Tron International, Inc. (NASDAQ-KTII) today reported record second quarter
net income of $1.916 million, 37.9 percent higher than second quarter 2004,
on
an 11.7 percent growth in revenues to $30.22 million. Earnings per share
(diluted) grew 34 percent to $0.71, compared with $0.53 in the second quarter
last year.
K-Tron
also reported record first half net income of $3.559 million, or $1.32 per
share
(diluted), on revenues of $58.78 million compared to net income of $2.811
million, or $1.08 per share (diluted), on revenues of $53.38 million for the
same period in 2004.
In
announcing these results, the Company pointed out that approximately 11.1
percent of the $3.16 million revenue increase in the second quarter of 2005
and
approximately 18.3 percent of the $5.39 million revenue increase for the first
six months of 2005 compared to the same periods in 2004 was from foreign
exchange. The Company also noted that results for the first quarter of last
year
benefited from the sale of a small Company-owned office building in England,
which produced $164 thousand of income before income taxes. Excluding the gain
on that sale, income before income taxes would have increased from $3.849
million in the first half of 2004 to $5.511 million in the first half of 2005,
or 43.2 percent.
Commenting
on the Company’s results, K-Tron Chairman and Chief Executive Officer Edward B.
Cloues, II said, “Our strong financial performance in the second quarter and
first six months of 2005 shows that K-Tron is having an exceptional year so
far.
Our size reduction and feeder business lines were both very busy in the second
quarter, especially in North America, as the demand for our equipment has been
quite robust compared to recent years in many of our markets.”
Mr.
Cloues also highlighted the continued reduction of debt by the Company. Total
debt, all of which was in U.S. dollars, was reduced by $1.79 million in the
second quarter, from $21.33 million to $19.54 million, while cash declined
by
$780 thousand to $10.90 million. The decline in cash was caused by an
unfavorable change in foreign exchange rates in the second quarter since a
significant portion of the Company’s cash is held in Swiss francs by the
Company’s Swiss manufacturing subsidiary. Debt was reduced by $3.24 million in
the first six months of 2005. As a result of debt decreasing more than cash
did,
net debt (debt minus cash) decreased by
$1.02
million in the second quarter to $8.63 million and by $1.71 million in the
first
six months of 2005.
On
another matter, the Company announced that it was recently ranked 69th
on the
fifth annual FORTUNE Small Business list of the 100 fastest growing small
companies in America. The FSB 100 list, which is comprised of public companies,
appears in the July/August issue of FORTUNE Small Business and is also available
at www.fsb.com. To compile the list, FORTUNE Small Business asked financial
research firm Zacks to screen annual reports for public companies with annual
revenue of less than $200 million and a stock price of more than $1. Within
that
group, companies were ranked based on the past three years’ earnings growth,
revenue growth and stock performance. Real estate firms and banks were not
considered for the list this year.
At
the
same time, the Company also announced that it has been included in the Russell
Microcap™ Index. This new Index, which debuted on July 1, is comprised of the
smallest 1,000 securities in the small-cap Russell 2000™ Index along with the
next smallest 1,000 companies, based on a ranking of all U.S. equities by market
capitalization. Russell recently posted the complete index membership list
at
www.Russell.com/US/Indexes.
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)
K-TRON
INTERNATIONAL, INC. & SUBSIDIARIES
FINANCIAL
SUMMARY
(Unaudited)
(Dollars
in thousands, except share data)
|
|
Three
Months Ended
|
|
Six
Months Ended
|
|
|
|
July
2,
2005
|
|
July
3,
2004
|
|
July
2,
2005
|
|
July
3,
2004
|
|
Revenues
|
|
$
|
30,224
|
|
$
|
27,062
|
|
$
|
58,776
|
|
$
|
53,383
|
|
Operating
income
|
|
|
3,242
|
|
$
|
2,300
|
|
$
|
6,033
|
|
$
|
4,563
|
|
Interest
(expense)
|
|
|
(259
|
)
|
|
(348
|
)
|
|
(522
|
)
|
|
(714
|
)
|
Gain
on sale of office building
|
|
|
--
|
|
|
--
|
|
|
--
|
|
|
164
|
|
Income
before income taxes
|
|
|
2,983
|
|
|
1,952
|
|
|
5,511
|
|
|
4,013
|
|
Income
taxes
|
|
|
1,067
|
|
|
563
|
|
|
1,952
|
|
|
1,202
|
|
Net
income
|
|
$
|
1,916
|
|
$
|
1,389
|
|
$
|
3,559
|
|
$
|
2,811
|
|
Basic
earnings per share
|
|
$
|
0.75
|
|
$
|
0.56
|
|
$
|
1.40
|
|
$
|
1.13
|
|
Diluted
earnings per share
|
|
$
|
0.71
|
|
$
|
0.53
|
|
$
|
1.32
|
|
$
|
1.08
|
|
Weighted
average number of
common
shares outstanding
(basic)
|
|
|
2,550,000
|
|
|
2,491,000
|
|
|
2,543,000
|
|
|
2,477,000
|
|
Weighted
average number of
common
and common
equivalent
shares outstanding
(diluted)
|
|
|
2,714,000
|
|
|
2,617,000
|
|
|
2,699,000
|
|
|
2,599,000
|
|
3
-----END PRIVACY-ENHANCED MESSAGE-----