SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) October 23, 1996
BARRINGER TECHNOLOGIES INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-3207 84-0720473
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) (Identification No.)
219 South Street, New Providence, New Jersey 07974
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (908) 665-8200
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Item 5. Other Events.
On October 23, 1996, Barringer Technologies Inc. (the "Company") announced
its results of operations for the three-month and six-month periods ended
September 30, 1996. A copy of the Company's press release has been filed as an
Exhibit to this Form 8-K.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 28.1 Press release, dated October 23, 1996.
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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.
BARRINGER TECHNOLOGIES INC.
By:/s/ Richard S. Rosenfeld
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Richard S. Rosenfeld,
Chief Financial Officer
Dated: October 23, 1996
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EXHIBIT INDEX
Exhibit
28.1 Press release, dated October 23, 1996.
Exhibit 28.1
For Release: Immediately
Contact: Stanley Binder, CEO
Richard S. Rosenfeld, CFO 908-665-8200
BARRINGER TECHNOLOGIES ANNOUNCES THIRD QUARTER RESULTS
New Providence, New Jersey, October 23, 1996 ... Barringer Technologies, Inc.
(NASDAQ: BARR) today announced its unaudited results for the third quarter
ended September 30, 1996 and for the nine months ended September 30, 1996, (in
000's except per share data).
Three months ended Nine months ended
September 30, September 30,
1996 1995 1996 1995
---- ---- ---- ----
Net Sales $2,340 $1,434 $7,352 $4,544
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Net Income (Loss):*
Continuing operations $ 543 $(302) $1,108 $ (658)
Operation held for sale - 139 - 194
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Net income (loss) $ 543 $(163) $1,108 $(464)
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Preferred Stock Dividend
Requirements $ 11 $ 16 $ 35 $ 67
=============== ================
Primary Per Share Data:**
Continuing operations $ 0.13 $(0.09) $ 0.28 $(0.23)
Operation held for sale - 0.04 - 0.06
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Net income (loss) per share $ 0.13 $(0.05) $ 0.28 $(0.17)
=============== =================
Fully-Diluted Per Share Data:**
Continuing operations $ 0.12 $(0.09) $ 0.26 $(0.23)
Operation held for sale - 0.04 - 0.06
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Net income (loss) per share $ 0.12 $(0.05) $ 0.26 $(0.17)
=============== ================
* The results for the three and nine months ended September 30, 1996 includes
a net Canadian tax credit of $125,000.
** Adjusted to reflect one-for-four reverse stock split effective September
25, 1995
Income from continuing operations for the three months ended September 30, 1996
was $543,000, or $0.13 per share ($0.12 fully-diluted), on sales of $2,340,000
versus a loss from continuing operations of $302,000, or a loss of $0.09 per
share, on sales of $1,434,000 for the same period last year. Net income for the
three months ended September 30, 1996 was $543,000, or $0.13 per share ($0.12
fully-diluted), versus a net loss of $163,000 or $0.05 per share, for the same
period last year.
Income from continuing operations for the nine months ended September 30, 1996
was $1,108,000, or $0.28 per share ($0.26 fully-diluted), on sales of $7,352,000
versus a loss from continuing operations of $658,000, or a loss of $0.23 per
share, on sales of $4,544,000 for the same period last year. Net income for the
nine months ended September 30, 1996 was $1,108,000, or $0.28 per share ($0.26
fully-diluted), versus a net loss of $464,000 or a loss of $0.17 per share, for
the same period last year.
The results for the three and nine months ended September 30, 1996 include a net
Canadian tax credit of $125,000, or $0.03 per share, both primary and
fully-diluted related to a decrease in the deferred tax asset valuation
allowance.
Mr. Stanley Binder, President and Chief Executive Officer of the Company said
"that the increase in sales and earnings is the result of record unit sales of
IONSCANs and we are pleased with our record Ionscan sales achieved in the first
nine months of this year."
Headquartered in New Providence, New Jersey, Barringer Technologies Inc.
through wholly-owned subsidiaries is principally engaged in the development,
manufacture and marketing of specialty analytical instruments for drugs and
explosives detection applications.
