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<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended April 1, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 0-9576
K-TRON INTERNATIONAL, INC.
(Exact Name of Registrant as Specified in Its Charter)
New Jersey 22-1759452
(State or Other Jurisdiction of (I.R.S. Employer Identification #)
Incorporation or Organization)
ROUTES 55 & 553, P.O. BOX 888, PITMAN, NEW JERSEY 08071-0888
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (856) 589-0500
NOT APPLICABLE
(Former Name, Former Address and Formal Fiscal Year, if Changed Since Last
Report)
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
The Registrant had 2,421,405 shares of Common Stock outstanding as of April 1,
2000.
<PAGE> 2
K-TRON INTERNATIONAL, INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in Thousands)
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended
------------------
April 1, April 3,
2000 1999
---- ----
OPERATING ACTIVITIES:
<S> <C> <C>
Net income $ 1,373 $ 1,360
Adjustment to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization 784 803
Amortization of deferred gain on sale/leaseback transaction (85) (96)
Changes in assets and liabilities:
Accounts receivable, net 4,400 1,935
Inventories (907) (1,421)
Prepaid expenses and other current assets 194 (624)
Other assets (103) (7)
Accounts payable (753) 241
Accrued expenses and other current liabilities (1,724) (858)
Accrued warranty (39) (19)
Income taxes payable 446 194
------- -------
Net cash provided by operating activities 3,586 1,508
------- -------
INVESTING ACTIVITIES:
Capital expenditures (856) (902)
Investment in patents (23) (40)
------- -------
Net cash used in investing activities (879) (942)
------- -------
FINANCING ACTIVITIES:
Net repayments under notes payable to banks (2,493) (244)
Proceeds from issuance of long-term debt 7,950 1,500
Principal payments on long-term debt (629) (421)
Purchase of treasury stock (9,244) (1,812)
Proceeds from issuance of common stock 25 194
------- -------
Net cash used in financing activities (4,391) (783)
------- -------
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS (45) (140)
------- -------
NET DECREASE IN CASH AND CASH EQUIVALENTS (1,729) (357)
------- -------
CASH AND CASH EQUIVALENTS
Beginning of period 3,093 3,220
------- -------
End of period $ 1,364 $ 2,863
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</TABLE>
See Notes to Consolidated Financial Statements
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