-----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, RUNpk3l1d09Z/QH/m0zH1o6q4nRaTBy/Hyl/9GnzWwco33LxmGsfJi1IiAEElGm/ 14bMW3JsyGGDPdpgw/7Cbw== 0000950116-06-000617.txt : 20060221 0000950116-06-000617.hdr.sgml : 20060220 20060221162240 ACCESSION NUMBER: 0000950116-06-000617 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060221 ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060221 DATE AS OF CHANGE: 20060221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERMAGNETICS GENERAL CORP CENTRAL INDEX KEY: 0000351012 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FABRICATED METAL PRODUCTS [3490] IRS NUMBER: 141537454 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11344 FILM NUMBER: 06633243 BUSINESS ADDRESS: STREET 1: 450 OLD NISKAYUNA RD STREET 2: PO BOX 461 CITY: LATHAM STATE: NY ZIP: 12110-0461 BUSINESS PHONE: 5187821122 MAIL ADDRESS: STREET 1: 450 OLD NISKAYUNA ROAD STREET 2: PO BOX 461 CITY: LATHAM STATE: NY ZIP: 12110-0461 8-K 1 eight-k.txt 8-K UNITED STATES 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): February 21, 2006 ______________ INTERMAGNETICS GENERAL CORPORATION (Exact name of registrant as specified in its charter)
DELAWARE 001-11344 14-1537454 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer Identification No.) incorporation or organization)
450 OLD NISKAYUNA ROAD LATHAM, NEW YORK 12110 (Address of principal executive offices) (Zip Code) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (518) 782-1122 (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)) SECTION 9 -- FINANCIAL STATEMENTS AND EXHIBITS ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibit The following Exhibits are filed or furnished with this Form 8-K. ----------- ----------------------------------------------------------- EXHIBIT NO. DESCRIPTION ----------- ----------- ----------- ----------------------------------------------------------- 99.1 Selected Financial Data adjusted to reflect 50% stock dividend paid February 21, 2006 to Stockholders of record on February 6, 2006. ----------- ----------------------------------------------------------- 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. INTERMAGNETICS GENERAL CORPORATION Date: February 21, 2006 By: /s/Michael K. Burke ------------------------------- Michael K. Burke Executive Vice President and Chief Financial Officer EX-99 2 ex99-1.txt EXHIBIT 99.1 EXHIBIT 99.1 ------------ SUMMARY CONSOLIDATED FINANCIAL DATA The following table sets forth our summary consolidated financial data for the periods presented below and our earnings per share as adjusted for the stock split described below. The summary consolidated financial data for each of the five fiscal years in the five year period ended May 29, 2005 and at the end of each of those fiscal years, have been derived from our audited consolidated financial statements. The summary consolidated financial data as of and for the three months ended August 28, 2005 and August 29, 2004 and the three and six months ended November 27, 2005 and November 28, 2004 have been derived from our unaudited consolidated financial statements. Our unaudited consolidated financial statements include all adjustments, which include only normal and recurring adjustments, necessary to state fairly the data included therein. The per share amounts shown below have been retroactively adjusted to reflect a three-for-two stock split in the form of a 50% stock dividend which was paid on February 21, 2006 to stockholders of record on February 6, 2006 (See Footnote "c" below). Our historical results are not necessarily indicative of the results of operations for future periods, and our results of operations for the six-month period ended November 27, 2005 are not necessarily indicative of the results that may be expected for the full year ending May 28, 2006. You should read the following summary consolidated financial data in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended May 29, 2005 and in our Quarterly Report on Form 10-Q for the fiscal period ended November 27, 2005.
(Dollars in Thousands Except Per Share Amounts) For the Three Months Ended For the Six Months Ended ---------------------------------------------------------- --------------------------- 27-Nov-05 28-Nov-04 28-Aug-05 29-Aug-04 27-Nov-05 28-Nov-04 ---------- ---------- ---------- ---------- ---------- ---------- Net Revenues (d) $ 78,112 $ 66,175 $ 71,016 $ 51,524 $ 149,128 $ 117,699 Gross Margin (d) 35,160 31,229 31,146 23,116 66,306 54,345 Income before Income taxes (d) 10,408 3,301 7,738 5,249 18,146 8,550 Income from continuing operations 6,838 2,367 5,084 3,427 11,922 5,794 Per common share (a) (c): Basic: Continuing operations $ 0.16 $ 0.06 $ 0.12 $ 0.09 $ 0.28 $ 0.14 Discontinued operations - 0.04 - 0.05 - 0.09 ---------- ---------- ---------- ---------- ---------- ---------- $ 0.16 $ 0.10 $ 0.12 $ 0.14 $ 0.28 $ 0.23 Diluted: Continuing operations $ 0.16 $ 0.06 $ 0.12 $ 0.08 $ 0.28 $ 0.14 Discontinued operations - 0.04 - 0.05 - 0.09 ---------- ---------- ---------- ---------- ---------- ---------- $ 0.16 $ 0.10 $ 0.12 $ 0.13 $ 0.28 $ 0.23 For the Fiscal Year Ended --------------------------------------------------------------------------- 29-May-05 30-May-04 25-May-03 26-May-02 27-May-01 ---------- ---------- ---------- ---------- ---------- Net Revenues (d) $ 264,759 $ 139,739 $ 126,841 $ 135,152 $ 112,057 Gross Margin (d) 120,185 59,261 50,498 55,522 46,296 Income before Income taxes (d) 19,922 18,194 20,723 29,729 12,203 Income from continuing operations 14,017 11,881 13,532 20,218 7,492 Per common share (a) (c): Basic: Continuing operations $ 0.34 $ 0.32 $ 0.36 $ 0.55 $ 0.22 Discontinued operations 0.56 0.08 0.04 0.01 0.10 ---------- ---------- ---------- ---------- ---------- $ 0.90 $ 0.40 $ 0.40 $ 0.56 $ 0.32 Diluted: Continuing operations $ 0.33 $ 0.31 $ 0.35 $ 0.52 $ 0.20 Discontinued operations 0.56 0.08 0.04 0.01 0.10 ---------- ---------- ---------- ---------- ---------- $ 0.89 $ 0.39 $ 0.39 $ 0.53 $ 0.30 27-Nov-05 29-May-05 30-May-04 25-May-03 26-May-02 27-May-01 ---------- ---------- ---------- ---------- ---------- ---------- Working Capital $ 105,265 $ 51,551 $ 52,020 $ 109,865 $ 93,113 $ 60,370 Total Assets 418,567 389,648 284,935 185,055 177,225 152,158 Long-Term debt (net of current maturities) 58,559 19,885 57,635 4,384 4,668 6,185 Retained Earnings / (accumulated deficit) 93,112 81,190 43,644 28,784 13,867 (6,722) Stockholders' Equity 287,957 275,006 175,569 154,504 147,394 115,015
- ------------------- (a) Income (loss) per common share has been computed during each period based on the weighted average number of shares of Common Stock outstanding plus dilutive potential common shares (where applicable). (b) The Company did not pay a cash dividend on its Common Stock during any of the periods indicated. (c) Net income per common share has been restated to give effect to the three for two stock split in the form of a 50% stock dividend to stockholders' of record on February 6, 2006. The distribution date was February 21, 2006. (d) Net revenues, gross margin, and income before income taxes were restated in 2005 to exclude amounts associated with IGC-Polycold Systems, Inc. ("Polycold"), the Company's wholly-owned subsidiary, which was sold on February 15, 2005. -----END PRIVACY-ENHANCED MESSAGE-----