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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 14, 1997
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NUKO INFORMATION SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 2-31438 16-0962874
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification No.)
2391 Qume Drive
San Jose, California 95131
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 526-0288
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(Former name or former address,
if changed since last report)
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ITEM 5. OTHER EVENTS
On February 14, 1997 NUKO Information Systems, Inc., a Delaware
corporation (the "Company"), reported preliminary unaudited results for the year
ended December 31, 1996 as set forth below.
NUKO INFORMATION SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands, except per share amounts)
<TABLE>
<CAPTION>
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Three Months Ended Year Ended
December 31, December 31,
1996 1995 1996 1995
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<S> <C> <C> <C> <C>
Net sales $ 4,146 $ 171 $ 11,082 $ 296
Cost of sales 4,809 21 9,260 89
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Gross margin (663) 150 1,822 207
Operating expenses:
Selling, general and administrative 4,524 253 10,043 920
Research and development 1,535 1,005 6,796 1,755
Total operating expenses 6,059 1,258 16,839 2,675
Loss from operations (6,722) (1,108) (15,017) (2,468)
Other income (expense), net (32) (13) 285 (69)
Loss before income taxes (6,754) (1,121) (14,732) (2,537)
Income taxes -- -- -- --
Net loss (6,754) (1,121) (14,732) (2,537)
Net loss per share $ (0.65) $ (0.33) $ (1.52) $ (0.93)
Weighted average shares outstanding 10,465 3,358 9,709 2,716
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</TABLE>
CONSOLIDATED BALANCE SHEETS
(In thousands)
<TABLE>
<CAPTION>
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December 31, December 31,
1996 1995
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<S> <C> <C>
Assets
Current assets:
Cash and cash equivalents $ 2,470 $11,256
Receivables 6,865 490
Inventories 4,829 758
Prepaids and other current assets 565 111
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Total current assets 14,729 12,615
Fixed assets, net 3,446 460
Other assets 6 253
Total assets $18,181 $13,328
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Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 7,217 $ 1,320
Accrued expenses 1,054 109
Note payable 2,160
Current portion of long-term debt 225 95
Total current liabilities 10,656 1,524
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Long-term debt 38 427
Shareholders' equity 7,487 11,377
Total liabilities and shareholders' equity $18,181 $13,328
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</TABLE>
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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 hereunto duly authorized.
NUKO INFORMATION SYSTEMS, INC.
DATE: February 14, 1996 By: /s/ JOHN H. GORMAN
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John H. Gorman
Vice President - Finance,
Chief Financial Officer
and Secretary
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