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 26, 2009

Kewaunee Scientific Corporation

(Exact name of registrant as specified in its charter)

Delaware	0-5286	38-0715562
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

2700 West Front Street Statesville, North Carolina (Address of principal executive offices) 28677 (Zip Code)

Registrant’s telephone number, including area code    704-873-7202

N/A

(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:

¨ 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 Conditions

On February 26, 2009, Kewaunee Scientific Corporation issued a press release announcing its financial results for the third quarter ended January 31, 2009.  A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item  9.01   Financial Statements and Exhibits

(d) Exhibits:

Exhibit No.

      99.1 Press Release of Kewaunee Scientific Corporation dated February 26, 2009.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, 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.

	(Registrant)
	Kewaunee Scientific Corporation
Date:  February 26, 2009	/s/ D. Michael Parker
	D. Michael Parker Senior Vice President, Finance
	Chief Financial Officer

EX-99.1

Kewaunee Scientific Announces

Higher Third Quarter Sales and Earnings

and Quarterly Dividend

Exchange:        NASDAQ (KEQU)	Contact:      D. Michael Parker
	704/871-3290

STATESVILLE, NC, February 26, 2009—Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced results for its third quarter ended January 31, 2009.

Net earnings for the quarter increased to $882,000, or $0.35 per diluted share, up 10% from $802,000, or $0.31 per diluted share, in the same period last year. Earnings benefited from the higher sales volume, solid operational performances throughout the Company, and the stabilization of costs for key raw materials and energy. Net earnings for the nine months ended January 31, 2009 were $3,327,000, or $1.30 per diluted share, up 24% from net earnings of $2,688,000, or $1.05 per diluted share, in the same period last year.

Sales for the quarter were $26,023,000, up 19% over sales of $21,883,000 in the same period last year. Sales benefited from continuing higher levels of new orders and the record order backlog.  Sales for the nine months ended January 31, 2009 were $79,150,000, up 17% from sales of $67,394,000 in the same period last year.

Sales from domestic operations during the quarter were $22,498,000, up 27% from the same period last year. Domestic sales for the nine months ended January 31, 2009 were $67,296,000, an increase of 21% from the same period last year. Sales from international operations were $3,525,000, down 17% from the same period last year. The decline resulted primarily from a softer Singapore laboratory furniture market. International sales for the nine months ended January 31, 2009 were $11,854,000, up 2% from the same period last year.

The order backlog at January 31, 2009 was $60.7 million, up from $58.8 million at January 31, 2008, and down slightly from $61.6 million at the end of the previous quarter.  The domestic marketplace for laboratory furniture products provided an extremely high number of opportunities during the quarter, and the Company had one of the strongest quarters of quotation activity in its history. Although some slowing of activity in the Asian laboratory marketplace was noted during the quarter, the Company closed two significant orders in Asia that added to the order backlog.

The Company's financial condition continues to be strong. Bank borrowings and capital lease obligations were $6,318,000 at January 31, 2009, up from $4,243,000 at January 31, 2008, with the increase primarily the result of receivables associated with the increase in sales. Cash on hand was $3,089,000, as compared to $2,882,000 at the end of the same period last year. Working capital was $17,749,000 at the end of the quarter, up from $14,671,000 at the end of the same period last year.

“I am pleased with the Company’s strong performance during the third quarter,” said William A. Shumaker, President and Chief Executive Officer.  “Our strategic efforts over the past several years to make Kewaunee a more efficient Company are working well.  We have not yet noticed any significant impact from the global economic slowdown on our business or opportunities in the domestic laboratory furniture marketplace, but we remain keenly aware of this serious situation.   We are diligently pursuing a number of strategies that will help position the Company in case of an economic downturn in our industry and, at the same time, make the Company even stronger when the economy rebounds.

“We believe the Company is on track for a good fourth quarter.  Sales should benefit from our strong order backlog, and earnings should benefit from lower costs for some of our key raw materials and our on-going cost reduction activities. We expect aggressive competitive pricing will continue, and probably accelerate, in the coming months.”

The Company also announced today that its Board of Directors approved a cash dividend of eight cents per outstanding share to stockholders of record at the close of business on March 12, 2009, payable on March 26, 2009.

Kewaunee Scientific Corporation is a recognized leader in the design, manufacture, and installation of scientific and technical furniture. The Company's corporate headquarters and domestic manufacturing facilities are located in Statesville, North Carolina.  The Company has subsidiaries in Singapore and Bangalore, India that serve the Asian and Middle East markets.  Kewaunee Scientific's website is located at http://www.kewaunee.com.

Certain statements in this release constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, economic, competitive, governmental, and technological factors affecting the Company’s operations, markets, products, services, and prices.

Consolidated Statements of Operations

(in thousands, except per share data)

(Unaudited)

	Three Months Ended						Nine Months Ended
	January 31						January 31
	2009			2008			2009			2008
Net sales	$	26,023		$	21,883		$	79,150		$	67,394
Cost of products sold		21,089			17,064			62,846			52,759
Gross profit		4,934			4,819			16,304			14,635
Operating expenses		3,440			3,293			10,884			9,811
Operating earnings		1,494			1,526			5,420			4,824
Other income (expense)		3			(6	)		(36	)		(2	)
Interest expense		(49	)		(86	)		(231	)		(302	)
Earnings before income taxes		1,448			1,434			5,153			4,520
Income tax expense		488			421			1,595			1,391
Earnings before minority interests		960			1,013			3,558			3,129
Minority interests		78			211			231			441
Net earnings	$	882		$	802		$	3,327		$	2,688
Net earnings per share
Basic	$	0.35		$	0.32		$	1.30		$	1.07
Diluted	$	0.35		$	0.31		$	1.30		$	1.05
Weighted average number of common shares outstanding (in thousands)
Basic		2,556			2,543			2,554			2,523
Diluted		2,556			2,576			2,563			2,551

Condensed Consolidated Balance Sheets

(in thousands)

	January 31		April 30
	2009		2008
	(unaudited)
Assets
Cash and cash equivalents	$	2,691	$	3,784
Restricted cash		398		480
Receivables, less allowances		24,723		20,087
Inventories		7,678		6,984
Prepaid expenses and other current assets		1,359		1,847
Total current assets		36,849		33,182
Net property, plant and equipment		11,601		11,825
Other assets		5,064		5,599
Total Assets	$	53,514	$	50,606
Liabilities and Stockholders’ Equity
Short-term borrowings	$	5,815	$	4,551
Current obligations under capital leases		268		323
Accounts payable		8,211		8,929
Other current liabilities		4,806		3,459
Total current liabilities		19,100		17,262
Other non-current liabilities		5,295		6,397
Total stockholders’ equity		29,119		26,947
Total Liabilities and Stockholders’ Equity	$	53,514	$	50,606