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): December 21, 1998
National Technical Systems, Inc.
(Exact name of registrant as specified in charter)
California 0-16438 95-4134955
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification no.)
24007 Ventura Boulevard, Suite 200, Calabasas, California 91302
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (818) 591-0776
(Former name or former address, if changed since last report)
Item 5. OTHER EVENTS.
The information set forth in the attached exhibit reflects the
Registrant's report of the unaudited consolidated results of its operations for
the month ended November 30, 1998, the first month since it completed its merger
and acquisition of XXCAL, Inc. and XXCAL Limited effective on October 30, 1998.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibit A - Unaudited condensed consolidated statement of income
for the Registrant for the month ended November 30, 1998
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
December 22, 1998 NATIONAL TECHNICAL SYSTEMS, INC.
By /s/ Lloyd Blonder
-----------------------------
Lloyd Blonder
Senior Vice President / CFO
<PAGE>
EXHIBIT A
Unaudited Condensed Consolidated Statement of Income
Month Ended November 30, 1998 (1)
Revenues $ 7,008,000
Cost of sales 4,868,000
---------------
Gross profit 2,140,000
Selling, general and administrative expense 1,509,000
---------------
Operating income 631,000
Other income (expense):
Interest expense, net (103,000)
Other (2,000)
---------------
Total other expense (105,000)
---------------
Income before income taxes and minority interest 526,000
Income taxes 210,000
---------------
Income before minority interest 316,000
Minority interest (4,000)
---------------
Net income $ 312,000
===============
Basic earnings per common share: $ 0.04
===============
Diluted earnings per common share: $ 0.04
===============
Weighted average common shares outstanding 8,312,000
Dilutive effect of stock options 321,000
---------------
Weighted average common shares outstanding, assuming dilution 8,633,000
===============
(1) The results of operations for the month ended November 30, 1998 are not
necessarily indicative of the results expected for the full year.
