Hickok Incorporated Reports Fourth Quarter and Fiscal 2008 Operating Results
Posted on: Monday, 22 December 2008, 15:06 CST
For the quarter ended
For the 2008 fiscal year the Company reported a net loss of
Backlog at
The Company's financial position remains strong, with current assets of
Hickok provides products and services primarily for the automotive, emissions testing, locomotive, and aircraft industries. Offerings include the development, manufacture and marketing of electronic and non-electronic automotive diagnostic products used for repair, emission testing, and nut- running electronic controls used in manufacturing processes. The Company also develops and manufactures indicating instruments for aircraft, locomotive and general industrial applications.
Certain statements in this news release, including discussions of management's expectations for fiscal 2009, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those anticipated as a result of risks and uncertainties which include, but are not limited to, Hickok's ability to effectively develop and market new products serving customers in the automotive aftermarket, overall market and industry conditions, the Company's ability to capitalize on market opportunities as well as the risks described from time to time in Hickok's reports as filed with the Securities and Exchange Commission.
HICKOK INCORPORATED Consolidated Income Statement 3 Months 12 Months Period ended September 30 2008 2007 2008 2007 Net sales $1,424,630 $5,970,244 $12,070,326 $12,520,061 Income (loss) before Income tax (719,268) 1,019,427 (569,692) (626,549) Income (recovery of) taxes 149,207 568,000 200,007 8,000 Income (loss) before cumulative effect of change in accounting principle, net of tax (868,475) 451,427 (769,669) (634,549) Cumulative effect of change in accounting for stock-based compensation, net of tax of $8,000 - - - 14,863 Net income (loss) (868,475) 451,427 (769,669) (649,412) Basic income (loss) per share before cumulative effect of accounting change (.71) .38 (.62) (.52) Basic income (loss) per share (.71) .38 (.62) (.53) Diluted income (loss) per share before cumulative effect of accounting change (.66) .38 (.62) (.52) Diluted income (loss) per share (.66) .38 (.62) (.53) Weighted average shares outstanding 1,248,095 1,220,875 1,239,449 1,213,984SOURCE Hickok Incorporated
Source: PR Newswire
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