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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended MARCH 31, 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 0-9010
------------
ROBINSON NUGENT, INC.
------------------------------------
(Exact name of registrant as specified in its charter)
INDIANA 35-0957603
- -------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification
No.)
800 East Eighth Street, New Albany, Indiana 47151-1208
- -------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (812) 945-0211
--------------
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
----- -----
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practical date: As of
December 31, 1999, the registrant had outstanding 5,085,948 common shares
without par value.
The Index to Exhibits is located at page 15 in the sequential
numbering system. Total pages: 17.
<PAGE>
ROBINSON NUGENT, INC. AND SUBSIDIARIES
INDEX
Page No.
--------
PART I. Financial Information:
Item 1. Financial Statements
Consolidated balance sheets at March 31, 2000,
March 31, 1999 and June 30, 1999........... 3
Consolidated statements of operations and
comprehensive income for the three and nine
months ended March 31, 2000 and March 31, 1999.......... 5
Consolidated statements of cash flows for the nine
months ended March 31, 2000 and March 31,1999........... 6
Notes to consolidated financial statements.............. 7
Item 2. Management's discussion and analysis of financial
condition and results of operations................. 9
PART II. Other Information................................... 13
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
ROBINSON NUGENT, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
<TABLE>
<CAPTION>
March 31 June 30
------------------ -------
ASSETS 2000 1999 1999
------- ------- -------
(Unaudited)
<S> <S> <S> <S>
Current assets:
Cash and cash equivalents $ 1,237 $ 1,435 $ 845
Accounts receivable, net 16,407 10,466 13,159
Inventories:
Raw materials 1,007 771 971
Work in process 8,162 5,336 5,569
Finished goods 8,106 3,965 4,092
------- ------- -------
Total inventories 17,275 10,072 10,632
Other current assets 2,713 2,153 3,313
------- ------- -------
Total current assets 37,632 24,126 27,949
------- ------- -------
Property, plant & equipment, net 16,784 18,557 18,539
Other assets 118 470 138
------- ------- -------
Total assets $54,534 $43,153 $46,626
======= ======= =======
</TABLE>
See accompanying notes to consolidated financial statements.
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (CONTINUED)
ROBINSON NUGENT, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE DATA)
<TABLE>
<CAPTION>
March 31 June 30
------------------ -------
LIABILITIES AND SHAREHOLDERS' EQUITY 2000 1999 1999
------- ------- -------
(Unaudited)
<S> <S> <S>
Current liabilities:
Current installments of long-term
debt $ 501 $ 455 $ 449
Accounts payable 8,865 5,913 7,441
Accrued expenses 5,392 4,724 5,369
------- ------- -------
Total current liabilities 14,758 11,092 13,259
------- ------- -------
Long-term debt, excluding current
installments 11,317 8,583 9,016
Other liabilities 971 1,050 901
------- ------- ------
Total liabilities 27,046 20,725 23,176
------- ------- -------
Commitments and contingencies -- -- --
------- ------- -------
Shareholders' equity:
Common shares without par value
Authorized shares: 15,000,000; issued
6,980,192 shares at March 31, 2000,
6,851,250 shares at March 31, 1999
and June 30, 1999 21,443 20,950 20,950
Retained earnings 17,793 13,713 14,847
Equity adjustment from foreign
currency translation 827 641 492
Employee stock purchase plan loans
and deferred compensation (27) (82) (77)
Less cost of common shares in treasury;
1,894,246 shares at March 31, 2000,
1,930,064 shares at March 31, 1999,
1,925,668 shares at June 30, 1999 (12,548) (12,794) (12,762)
------- ------- -------
Total shareholders' equity 27,488 22,428 23,450
------- ------- -------
Total liabilities and shareholders'
equity $54,534 $43,153 $46,626
======= ======= =======
</TABLE>
See accompanying notes to consolidated financial statements.
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (CONTINUED)
ROBINSON NUGENT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME
(IN THOUSANDS, EXCEPT PER SHARE DATA)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
March 31 March 31
----------------- -----------------
2000 1999 2000 1999
------- ------- ------- -------
(Unaudited) (Unaudited)
<S> <S> <S> <S> <S>
Net sales $23,985 $18,657 $67,713 $51,073
Cost of sales 17,017 13,849 48,714 39,560
------- ------- ------- -------
Gross profit 6,968 4,808 18,999 11,513
Selling, general and administrative
expenses 4,890 3,598 13,396 10,296
Special and unusual expenses 151 335 757 1,426
------- ------- ------- -------
Operating income (loss) 1,927 875 4,846 (209)
------- ------- ------- -------
Other income (expense):
Interest income 12 14 37 45
Interest expense (272) (216) (651) (576)
Royalty income 11 21 11 21
Currency gains (losses) 12 (54) (256) (118)
------- ------- ------- -------
Total other income (expense) (237) 235 (859) (628)
------- ------- ------- -------
Income (loss) before income taxes 1,690 640 3,987 (837)
Income taxes 464 132 1,097 (67)
------- ------- ------- -------
Net income (loss) $ 1,226 $ 508 2,890 $ (770)
------- ------- ------- -------
Other comprehensive income (loss):
Foreign currency translation
adjustments (175) (400) 335 (132)
------- ------- ------- -------
Comprehensive income (loss) $ 1,051 $ 108 $ 3,225 $ (902)
======= ======= ======= =======
PER SHARE DATA:
Basic net income (loss) per
common share $ .24 $ .10 $ .58 $ (.16)
======= ======= ======= =======
Weighted average number of
common shares outstanding 5,013 4,912 4,962 4,901
======= ======= ======= =======
Diluted net income (loss) per
common share $ .23 $ .10 $ .56 $ (.16)
======= ======= ======= =======
Adjusted weighted average number
of common
Shares, assuming dilution 5,399 4,915 5,202 4,901
======= ======= ======= =======
Dividends per common share $ -- $ -- $ -- $ --
======= ======= ======= =======
</TABLE>
See accompanying notes to consolidated financial statements.
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (CONTINUED)
ROBINSON NUGENT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
<TABLE>
<CAPTION>
Nine Months Ended
March 31
------------------
2000 1999
------- -------
(Unaudited)
<S> <S> <S>
Cash flows from operating activities:
Net income (loss) $2,890 $ (770)
Adjustments to reconcile net income (loss)
to net cash provided by (used in) operating
activities:
Depreciation and amortization 3,654 3,225
Deferred income taxes 1,036 --
Disposal of capital assets 27 (83)
Issuance of treasury shares as
compensation 143 --
Change in assets and liabilities:
Receivables (4,545)
(1,192)
Inventories (6,643) (10)
Other assets 583 (639)
Accounts payable and accrued expenses 1,775 1,057
------ ------
Net cash provided by (used in) operating
activities (1,080) 1,588
------ ------
Cash flows from investing activities:
Capital expenditures (4,506) (4,361)
Proceeds from sales of fixed assets 2,526 2,126
------ ------
Net cash used in investing activities (1,980) (2,235)
------ ------
Cash flows from financing activities
Proceeds from short-term bank borrowings -- 250
Repayments of short-term bank borrowings -- (250)
Proceeds from long-term debt 5,141 4,420
Repayments of long-term debt (2,693) (3,424)
Repayments of employee stock purchase plan
loans 49 20
Proceeds from exercised stock options 788 --
Repurchase of common shares (295) --
Grants of treasury shares -- 118
Proceeds from sale of treasury shares 127 --
------ ------
Net cash provided by financing activities 3,117 1,134
------ ------
Effect of exchange rate changes on cash 335 (11)
------ ------
Increase in cash and cash equivalents 392 476
Cash and cash equivalents at beginning of
period 845 959
------ ------
Cash and cash equivalents at end of period $1,237 $1,435
====== ======
</TABLE>
See accompanying notes to consolidated financial statements.
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS (CONTINUED)
ROBINSON NUGENT, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
MARCH 31, 2000 AND 1999, AND JUNE 30, 1999
1. In the opinion of management, the accompanying unaudited consolidated
financial statements contain all adjustments necessary (all of which
are normal and recurring) to present fairly the financial position of
the Company and its subsidiaries, results of operations, and cash
flows in conformity with generally accepted accounting principles.
The results of operations for the interim period are not necessarily
an indicator of results to be expected for the entire year.
2. Reference is directed to the Company's consolidated financial
statements (Form 10-K), including references to the Annual Report,
for the year ended June 30, 1999 and management's discussion and
analysis included in Part I, Item 2 in this report.
3. The Company recorded special and unusual charges of $151,000, before
taxes, in the quarter and $757,000 year to date. These expenses are
presented separately as a component of the operating income in the
consolidated statements of operations. These expenses are personnel
costs incurred to design and implement a new information and
enterprise resource planning system for North American and European
operations. This new system was designed and implemented to satisfy
year 2000 requirements, enhance management and control systems and
improve customer service and vendor communications.
4. The Financial Accounting Standards Board has issued SFAS No. 133,
"Accounting for Derivative Instruments and Hedging Activities", which
establishes accounting and reporting standards for hedging activities
and for derivative instruments, including certain derivative
instruments embedded in other contracts (collectively referred to as
derivatives). It requires that an entity recognize all derivatives
as either assets or liabilities in the statement of financial
position and measure those instruments at fair value. Robinson
Nugent will adopt the new standard in fiscal 2001. Robinson Nugent
does not expect adoption of this standard will have a material impact
on its financial statements.
<PAGE>
5. The following tables present the Company's revenues and income
(loss)
before income taxes by geographic segment:
<TABLE>
<CAPTION>
NET SALES
Three Months Ended Nine Months Ended
March 31 March 31
------------------ -----------------
2000 1999 2000 1999
-------- -------- ------- -------
<S> <S> <S> <S> <S>
United States:
Domestic $13,931 $11,227 $40,959 $31,985
Export to rest of world 639 854 1,954 1,859
------- ------- ------- -------
Total sales to
customers 14,570 12,081 42,913 33,844
Intercompany 2,406 1,426 5,721 3,680
------- ------- ------- -------
Total United States 16,976 13,507 48,634 37,524
------- ------- ------- -------
Europe:
Total sales to
domestic customers 6,997 4,994 18,767 12,815
Intercompany 1,653 978 3,819 2,005
------- ------- ------- -------
Total Europe 8,650 5,972 22,586 14,820
------- ------- ------- -------
Asia:
Total sales to
domestic customers 2,418 1,582 6,033 4,414
Intercompany 3,486 946 6,999 2,864
------- ------- ------- -------
Total Asia 5,904 2,528 13,032 7,278
------- ------- ------- -------
Eliminations (7,545) (3,350) (16,539) (8,549)
------- ------- ------- -------
Consolidated $23,985 $18,657 $67,713 $51,073
======= ======= ======= =======
INCOME (L0SS) BEFORE INCOME TAXES:
Three Months Ended Nine Months Ended
March 31 March 31
------------------- ------------------
2000 1999 2000 1999
-------- -------- ------- -------
United States(1) $ 754 $ 296 $2,449 $ (484)
Europe 531 316 912 (269)
Asia 405 28 626 (84)
------- ------- ------ -------
Consolidated $ 1,690 $ 640 $3,987 $ (837)
======= ======= ====== =======
</TABLE>
(1) United States income (loss) before income taxes includes all of the
special and unusual charges presented separately as a component of
operating income (loss) in the consolidated statements of operations
as well as corporate expenses.
<PAGE>
PART I. FINANCIAL INFORMATION
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS
Customer orders for the third quarter ended March 31, 2000, amounted to
$25.3 million, up 25 percent from orders of $20.3 million in the same
quarter of the prior year. Growth trends in the Company's target market
segments, including Internet equipment related applications and satellite
communications interfaces, as well as the general connector market,
continue to be strong. Customer orders for the nine months ended March
31, 2000 amounted to 76.1 million, up 38 percent from orders of $55.1
million in the prior year. This increase in customer orders for the
first nine months of the year reflected a 24 percent increase in the
United States, a 63 percent increase in Europe and a 75 percent increase
in Asia. The Company increased its backlog of unshipped orders to $21.4
million, an increase of 43 percent compared to $15.0 million at March 31,
1999, and 65 percent compared to $13 million at June 30, 1999. The
Company's backlog in the United States has increased 26 percent due
primarily to increased orders of connectors for Internet related
applications such as servers, routers, hubs and other telecommunication
equipment. The European backlog increased 86 percent, primarily due to
an increase in customer orders of smart card reader connectors used in
digital satellite receivers and television set top boxes. Based on the
improved incoming order activity and a higher backlog of unshipped
orders, management anticipates a continuation of the Company's improved
performance as Robinson Nugent enters the final quarter of the fiscal
year.
Net sales increased 29 percent in the quarter to $24.0 million compared
to $18.7 million in the third quarter of the prior year, and increased 5
percent compared to $22.8 million in the second quarter of the year.
Customer sales in the United States increased 24 percent to $13.9 million
compared to $11.2 million in the third quarter of the prior year. Year-
to-date customer sales in the United States increased 28 percent to $41.0
million compared to $32.0 million in the first nine months of the prior
year. The Company continues to experience higher levels of incoming
orders and sales activity of its higher margin backplane connectors, and
its high-density, surface mount, fine pitch board-to-board interconnect
systems. Both types of connectors are used in communication and
networking components utilized to support the infrastructure of the
Internet. Profit margins remain strong in the United States operations
due to the Company's focus on this highly technical and rapidly expanding
market segment. United States operations have also experienced a
resurgence of growth of a number of its more mature product lines.
European customer sales increased 40 percent to $7.0 million compared to
$5.0 million in the third quarter of the prior year, and increased 46
percent to $18.8 million in the first nine months of the year compared to
$12.8 million in the prior year. This sales growth is due primarily to
an increase in customer orders and sales of next-generation, value added
smart card readers with integrated printed circuits, as well as standard
single and double smart card reader connectors. These connectors are
currently in demand by major communication and digital satellite receiver
manufacturing companies in Europe. The European management team will
continue to focus its engineering and sales effort on this growing
business niche. Based on the strong incoming order activity and an
increase in the backlog of unshipped orders in these product categories,
management anticipates a continuation of this growing sales trend in this
geographic region in future quarters. Profits in Europe continue to be
adversely affected by the weakening of the Euro when compared to the
pound sterling and the U.S. dollar. Management will continue to pursue
and utilize cost effective measures to mitigate currency rate exposure
risk.
<PAGE>
Customer sales in Asia were $2.4 million in the quarter compared to $1.6
million in the third quarter of the prior year, and $6.0 million year to
date compared to $4.4 million in the prior year.
Gross profits continued to improve in the quarter ended March 31, 2000
amounting to $7.0 million, or 29.1 percent, compared to $4.8 million or
25.7 percent in the prior year and $6.5 million or 28.4 percent in the
prior quarter. Gross profits for the nine months amounted to $19 million
or 28.1 percent compared to $11.5 million or 22.5 percent in the first
nine months of the prior. Gross profits are net of engineering charges
associated with new product development, which amounted to $1.1 million
or 4.4 percent of net sales in the current quarter compared to $0.9
million or 4.8 percent in the prior year. Year-to-date engineering
charges were $3.4 million or 5.0 percent compared to $2.4 million or 4.8
percent in the prior year. It is anticipated that the higher level of
research and development expenditures will continue in future quarters to
support an increase in new product development in the United States and
Europe. The increase in gross profits in the quarter compared to the
prior year reflects product mix, overall cost reductions, improved
manufacturing efficiencies, and better plant utilization. Gross profits
continue to be favorably impacted by the increase in sales of newer, high-
value products for high-end computer work-stations, servers, and
telecommunication equipment providers.
Selling, general and administrative expenses for the first nine months of
the year were $13.4 million compared to $10.3 million in the prior year.
Selling, general and administrative expenses of $4.9 million for the
three months ended March 31, 2000 increased 36 percent compared to
expenses of $3.6 million in the third quarter of the prior year. This
increase was due primarily to higher sales commission expenses and
operating expenses related to the new information system in Europe and
the United States.
The Company recorded special and unusual expenses of $0.2 million before
taxes, in the quarter. These expenses include personnel costs incurred to
design and implement the new information and enterprise resource planning
system in North America and Europe. This system is operational for all
of the Company's connector and cable assembly operations in the United
States, Mexico and Europe. This system was designed and implemented to
satisfy Y2K requirements, enhance management and control systems, and
improve customer services and vendor communications.
Other income and expense for the three months ended March 31, 2000,
reflect expenses of $237,000 compared to income of $235,000 for the
comparable three-month period in the prior year and expense of $859,000
compared to expense of $628,000 for the comparable nine-month period.
Other income and expense reflected a currency gain in the current quarter
of $12,000 compared to a currency loss of $54,000 in the third quarter of
the prior year. Current and prior year-to-date results include currency
losses of $256,000 and $118,000 respectively. There was a small increase
in interest expense in the current quarter and year to date compared to
the prior year due to increased borrowings used to fund new product
development, systems to improve customer service levels and the purchase
of our Scotland facility. The currency gain in the quarter was reported
primarily in Asia and the United States, but were partially offset by
currency losses in Europe.
The provision for income taxes was provided using the appropriate
effective tax rates for each of the tax jurisdictions in which the
Company operates. The Company maintains a valuation allowance for tax
benefits of prior period net operating losses in various jurisdictions.
At such time as management is able to project the probable utilization of
all or part of these net operating loss carryforward provisions, the
valuation allowances for these deferred tax assets will be reversed.
<PAGE>
The net income in the quarter ended March 31, 2000 amounted to $1.2
million or 23 cents per share, compared to $508,000 or 10 cents per share
in the third quarter of the prior year. These results represent the
sixth consecutive quarter of increased profitability from operations.
The net income for the nine months amounted to $2.9 million or 56 cents
per share compared to a net loss of $770,000 or 16 cents per share in the
prior year.
FINANCIAL CONDITION AND LIQUIDITY
Working capital at March 31, 2000 amounted to $22.9 million compared to
$13.0 million at March 31, 1999 and $14.7 million at June 30, 1999. The
current ratio was 2.6 to 1 at March 31, 2000 compared to 2.2 to 1 at
March 31, 1999. The increase in working capital, compared to the prior
year, primarily reflects a $5.9 million increase in accounts receivable
and $7.2 million increase in inventory, partially offset by a $3.0
million increase in accounts payable. The increase in inventory should
improve customer service levels and provide a basis for a continuation of
growth in sales and profits in future periods. Long-term debt excluding
current installments was $11.3 million as of March 31, 2000, and
represented 41 percent of shareholders' equity at March 31, 2000,
compared to $8.6 million or 38 percent of shareholders' equity at March
31, 1999.
In February 2000, the Company sold its facility in New Albany, Indiana,
to a limited liability company owned by two of the Company's principal
shareholders for approximately $2.1 million in cash. This transaction
resulted in a small gain on the sale. This facility was subsequently
leased back by the Company for $220,000 per year, under a two year,
triple-net lease.
The Company believes future working capital and capital expenditure
requirements can be met from cash provided by operating activities,
existing cash balances, and borrowings available under the existing
credit facilities.
INFORMATION SYSTEMS AND YEAR 2000 ISSUES
The Company successfully completed the implementation of its new
worldwide management information system. This new information system
addressed business and system processes including order management,
manufacturing resource planning, finance and accounting. These systems
were implemented at a total cost of approximately $7.0 million. The
Company expects that this new integrated system will increase operational
efficiencies and support future growth. All operations in North America,
Europe and Asia have been converted to Y2K compliant systems. As of this
date, the Company has not experienced any significant adverse
difficulties with any of its systems, its key suppliers, vendors or
customers' systems relative to Y2K. The Company has incurred costs in
the current quarter and year to date of approximately $0.2 million and
$1.4 million respectively. Expenditures in the current quarter is made
up of $0.2 million of personnel costs that are reflected in the special
and unusual expense category of the statement of operations. Funding for
these expenditures was provided by operating activities, existing cash
balances and borrowings available under the existing credit facilities.
Expenses and capital expenditures for this project for the first nine
months of the year were $0.8 million and $0.6 million respectively.
DIVIDEND ACTION
On April 5, 2000 the Board of Directors voted not to declare a cash
dividend in the quarter.
<PAGE>
CAUTIONARY STATEMENTS FOR PURPOSES OF THE SAFE HARBOR
In addition to statements of historical fact, this quarterly report
contains forward-looking statements which are inherently subject to
change, based on known and unknown risks, including but not limited to
changes in the market and industry. Please refer to documents filed with
the Securities and Exchange Commission for additional information on
factors that could materially affect the Company's financial results.
<PAGE>
PART II. OTHER INFORMATION
Item 1. Not applicable.
Item 2. Not applicable.
Item 3. Not applicable.
Item 4. Not applicable.
Item 5. Not applicable.
Item 6. Exhibits and Reports on Form 8-K.
(a) See Index to Exhibits.
(b) No reports or Form 8-K were filed during the quarter ended
March 31, 2000.
<PAGE>
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.
Robinson Nugent, Inc.
---------------------
(Registrant)
Date May 1, 2000 /s/ Larry W. Burke
------------- ------------------------
Larry W. Burke
President and Chief Executive Officer
Date May 1, 2000 /s/ Robert L. Knabel
------------- ------------------------
Robert L. Knabel
Vice President, Treasurer and Chief
Financial Officer
<PAGE>
FORM 10-Q
INDEX TO EXHIBITS
Number of Sequential
Item Numbering
Assigned in System
Regulation S-K Page Number
Item 601 Description of Exhibit of Exhibit
- -------------- -------------------------- ------------
(2) Not applicable.
(4) 4.1 Specimen certificate for Common Shares,
without par value. (Incorporated by
reference to Exhibit 4 to Form S-1
Registration Statement No. 2-62521.)
4.2 Rights Agreement dated April 21, 1988
between Robinson Nugent, Inc. and Bank
One, Indianapolis, N.A. (Incorporated
by reference to Exhibit I to Form 8-A
Registration Statement dated May 2,
1988.)
4.3 Amendment No. 1 to Rights Agreement
dated September 26, 1991 between
Robinson Nugent, Inc. and Bank One,
Indianapolis, N.A. (Incorporated by
reference to Exhibit 4.3 to Form 10-K
Report for year ended June 30, 1991.)
4.4 Amendment No. 2 to Rights Agreement
dated June 11, 1992. (Incorporated by
reference to Exhibit 4.4 to Form 8-K
Current Report dated July 6, 1992.)
4.5 Amendment No. 3 to Rights Agreement
dated February 11, 1998.
(10) 10.1 Robinson Nugent, Inc. 1983 Tax-Qualified
Incentive Stock Option Plan.
(Incorporated by reference to Exhibit
10.1 to Form 10-K Report for year ended
June 30, 1983.)
10.2 Robinson Nugent, Inc. 1983 Non Tax-
Qualified Incentive Stock Option Plan.
(Incorporated by reference to Exhibit
10.2 to Form 10-K Report for year ended
June 30, 1983.)
<PAGE>
10.3 1993 Robinson Nugent, Inc. Employee and
Non-Employee Director Stock Option Plan.
(Incorporated by reference to Exhibit
19.1 to Form 10-K Report for year ended
June 30, 1993.)
10.4 Summary of the Robinson Nugent, Inc.
Employee Stock Purchase Plan
(Incorporated by reference to Exhibit
19.2 to Form 10-K Report for year ended
June 30, 1993.)
10.5 Deferred compensation agreement dated
May 10, 1990 between Robinson Nugent,
Inc. and Larry W. Burke, President and
Chief Executive Officer. (Incorporated
by reference to Exhibit 19.1 to Form
10-K Report for year ended June 30, 1990.)
10.6 Rabbi Trust Agreement dated July 1, 1996
between Robinson Nugent, Inc. and Dean
Witter Trust Company, related to the
deferred compensation agreement between
Robinson Nugent, Inc. and Larry W. Burke
President and Chief Executive Officer.
(Incorporated by reference to Exhibit
10.6 to Form 10-K Report for year ended
June 30, 1997.)
10.7 Amendment of the 1993 Robinson Nugent, Inc.
Employee and Non-Employee Director Stock
Option Plan. (Incorporated by reference to
Exhibit 10.7 to Form 10-K Report for year
ended June 30, 1998.)
10.8 Summary of the 1993 Robinson Nugent, Inc.
Employee and Non-Employee Director Stock
Option Plan, as amended. (Incorporated by
Reference to Exhibit 10.8 to Form 10-K Report
for year ended June 30, 1998.)
10.9 Summary of Robinson Nugent, Inc. Bonus
Plan for the fiscal year ended June 30,
1999. (Incorporated by reference to
Exhibit 10.9 to Form 10-K Report for
year ended June 30, 1998.)
(11) Not applicable.
(15) Not applicable.
(18) Not applicable.
(19) Not applicable.
(22) Not applicable.
<PAGE>
(23) Not applicable.
(24) Not applicable.
(27) Financial Data Schedule
(99) Not applicable.
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
EXTRACTED FROM THE ROBINSON
NUGENT, INC. 10-Q FOR THE PERIOD ENDING MARCH 31, 2000 AND
IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
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