-----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, Dm7+JP747/hE/9M1SbVGx5FQnyG+hYXsoIVYpEd0fVmKZmYQfM7d7IzwIjrCxW/d CGa4bh8gs44PgSEDxH7wrg== 0000950134-03-011723.txt : 20030814 0000950134-03-011723.hdr.sgml : 20030814 20030814082825 ACCESSION NUMBER: 0000950134-03-011723 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030814 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KONTRON MOBILE COMPUTING INC CENTRAL INDEX KEY: 0000912643 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 411731723 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-18335 FILM NUMBER: 03843382 BUSINESS ADDRESS: STREET 1: 7631 ANAGRAM DRIVE CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 952.974.7000 MAIL ADDRESS: STREET 1: 7631 ANAGRAM DRIVE CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 FORMER COMPANY: FORMER CONFORMED NAME: FIELDWORKS INC DATE OF NAME CHANGE: 19960729 8-K 1 c78985e8vk.txt FORM 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): August 14, 2003 KONTRON MOBILE COMPUTING, INC. (Exact name of registrant as specified in its charter) Minnesota 000-22221 41-1731723 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 7631 Anagram Drive Eden Prairie, Minnesota 55344 (Address of principal executive offices) (Zip Code) (952) 974-7000 (Registrant's telephone number, including area code) - -------------------------------------------------------------------------------- ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. 99.1 Press release of Kontron Mobile Computing, Inc., issued on August 14, 2003. ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On August 14, 2003, Kontron Mobile Computing, Inc. issued a press release announcing financial results for the second quarter ended June 30, 2003. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference. The information in this Form 8-K, including the exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. -2- 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 hereunto duly authorized. KONTRON MOBILE COMPUTING, INC. Date: August 14, 2003 /s/ Thomas Sparrvik ---------------------------------------- Thomas Sparrvik, Chief Executive Officer (as authorized officer and principal executive officer) -3- EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press Release, dated August 14, 2003, issued by Kontron Mobile Computing, Inc. -4- EX-99.1 3 c78985exv99w1.txt PRESS RELEASE FOR IMMEDIATE RELEASE Investor Contact: RoseMary Luebke Controller 952.974.7000 rosie.luebke@kontronmobile.com Media contact: Gary Hornseth Public Relations Consultant 651.699.0759 gary.hornseth@kontronmobile.com KONTRON MOBILE COMPUTING ANNOUNCES RESULTS FOR SECOND QUARTER 2003 EDEN PRAIRIE, Minn. -- (August 14, 2003) -- Kontron Mobile Computing, Inc. (OTC BB: KMBC), today announced results for the second quarter of 2003. For the quarter, the company reported operating income of $232,275, compared to operating income of $33,168 for second quarter 2002. Net income was $87,275, or $0.01 per share, on revenue of $2.9 million, compared to net loss of $211,144, or $(0.01) per share, on revenue of $2.3 million during the same period in 2002. "I'm pleased to report a profitable quarter and a 35 percent revenue increase compared to the first quarter of 2003," said Thomas Sparrvik, CEO. "Despite this increase, however, second quarter revenue was below expectations and revenue growth continues to be our primary objective for the balance of 2003. Sales of our newest product, the ReVolution, are gathering momentum and we expect it to contribute to this goal. Looking longer term, our development team achieved a defense-related design-in win during the first quarter. This was another affirmation of our demonstrated ability to develop new products to meet customer needs." ABOUT KONTRON MOBILE COMPUTING, INC. A Minnesota corporation, Kontron Mobile Computing, Inc., has designed, manufactured and marketed rugged computers for a variety of industries and applications worldwide since 1992. It also provides product customization, integration and support services. The company is headquartered in Eden Prairie, Minn., with sales, service and manufacturing locations worldwide. It is traded on the U.S. Over the Counter Bulletin Board under the ticker symbol KMBC. Kontron Mobile Computing is the mobile computing affiliate of Kontron AG, Munich, Germany. For more information, visit Kontron Mobile Computing online at www.kontronmobile.com, or phone the company toll-free at 1-888-343-5396. Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the marketplace, other risk factors inherent in the computer industry and other factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. # # # KONTRON MOBILE COMPUTING, INC. BALANCE SHEETS
JUNE 30, DECEMBER 31, 2003 2002 ---- ---- (UNAUDITED) ASSETS CURRENT ASSETS: Cash and cash equivalents ............................................................. $ 1,281,949 $ 2,031,285 Accounts receivable, net of allowance for doubtful accounts of $156,500 and $127,200... 1,750,148 3,015,258 Accounts receivable, related parties .................................................. 28,703 119,919 Inventories ........................................................................... 1,406,001 975,263 Prepaid expenses and other ............................................................ 108,393 54,269 ------------ ------------ Total current assets ................................................ 4,575,194 6,195,994 ------------ ------------ Property and Equipment: Computers and equipment ........................................................... 1,172,885 1,163,624 Furniture and fixtures ............................................................ 800,706 800,706 Leasehold improvements ............................................................ 346,099 346,099 Less: Accumulated depreciation and amortization ................................... (2,185,401) (2,129,623) ------------ ------------ Property and equipment, net ................................................ 134,289 180,806 Deposits and Other Assets, net ........................................................ 6,557 39,398 ------------ ------------ TOTAL ASSETS .......................................................................... $ 4,716,040 $ 6,416,198 ============ ============ LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES: Accounts payable ...................................................................... $ 252,873 $ 401,845 Accounts payable, related parties ..................................................... 489,201 412,425 Accrued warranty ...................................................................... 283,000 332,169 Accrued compensation and benefits ..................................................... 112,549 272,312 Other accrued liabilities ............................................................. 233,473 340,174 Deferred revenue, short-term .......................................................... 783,306 797,658 ------------ ------------ Total current liabilities .................................................. 2,154,402 2,556,583 ------------ ------------ LONG TERM LIABILITIES: Notes payable to Kontron AG ........................................................... 6,562,410 7,462,071 Deferred revenue, long-term ........................................................... 82,046 266,634 ------------ ------------ Total long term liabilities ................................................ 6,644,456 7,728,705 ------------ ------------ Total Liabilities ..................................................................... 8,798,858 10,285,288 ------------ ------------ SHAREHOLDERS' EQUITY (DEFICIT): Series B Convertible Preferred Stock, $.001 par value, 4,250,000 shares authorized; 4,250,000 issued and outstanding for both periods ................................. 4,250 4,250 Series C Convertible Preferred Stock, $.001 par value, 500,000 shares authorized; 500,000 issued and outstanding for both periods ................................... 500 500 Common stock, $.001 par value, 30,000,000 shares authorized; 14,952,926 issued and outstanding for both periods ................................ 14,953 14,953 Additional paid-in capital ............................................................ 32,551,972 32,551,972 Accumulated deficit ................................................................... (36,654,493) (36,440,765) ------------ ------------ Total shareholders' equity (deficit) ................................ (4,082,818) (3,869,090) ------------ ------------ TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) .................................. $ 4,716,040 $ 6,416,198 ============ ============
KONTRON MOBILE COMPUTING, INC. STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED JUNE 30, JUNE 30, 2003 2002 2003 2002 ---- ---- ---- ---- Net Sales ......................................... $ 2,863,672 $ 2,344,689 $ 4,990,382 $ 5,501,060 Cost of Sales ..................................... 1,497,541 1,415,547 2,700,217 3,080,393 ------------ ------------ ------------ ------------ Gross profit .............................. 1,366,131 929,142 2,290,165 2,420,667 ------------ ------------ ------------ ------------ Operating Expenses: Sales and marketing ....................... 517,371 490,834 959,280 1,073,456 General and administrative ................ 350,829 148,933 631,151 453,967 Research and development .................. 265,656 256,207 556,493 476,534 ------------ ------------ ------------ ------------ Total operating expenses .......... 1,133,856 895,974 2,146,924 2,003,957 ------------ ------------ ------------ ------------ Operating income .................. 232,275 33,168 143,241 416,710 Loss on foreign currency .......................... (25,324) (78,553) (79,329) (105,179) Interest expense, net ............................. (119,676) (165,759) (277,640) (349,070) ------------ ------------ ------------ ------------ Net income (loss) applicable to common $ 87,275 $ (211,144) $ (213,728) $ (37,539) shareholders....................................... ============ ============ ============ ============ Basic and Diluted Income (Loss) Per Common Share: Net income (loss) per common share ................ $ .01 $ (.01) $ (.01) $ -- ------------ ------------ ------------ ------------ Basic and diluted weighted average common shares outstanding ......................... 14,952,926 14,952,926 14,952,926 14,952,926 ============ ============ ============ ============
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