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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): January 29,
1996
NYCOR, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
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<S> <C>
0-15299 22-2748564
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(Commission File Number) (IRS Employer Identification Number)
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<S> <C>
287 Childs Road
Basking Ridge, New Jersey 07920
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (908) 953-8200
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Item 5. Other Events
On January 29, 1996, the announced its financial
results for the year ended December 31, 1995.
In accordance with General Instruction F to Form
8-K, a copy of the Registrant's Press Release
dated January 29, 1996 is attached hereto as
Exhibit 20 and is incorporated herein by
reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
20 News Release dated January 29, 1996.
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SIGNATURE
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.
NYCOR, INC.
BY: /s/ Kent E. Hansen
Vice President-Finance
and General Counsel
Date: March 27, 1996 Signing both in his capacity as
Vice President of the Registrant
and as Chief Financial Officer of
the Registrant
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ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 20
NYCOR Reports 1995 Loss; Declares Regular Quarterly Dividend on
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Preferred Stock
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Basking Ridge, NJ -- January 29, 1996 -- NYCOR, Inc. (NASDAQ:
NYCOA) reported a loss of $4.1 million, or 79 cents per share, on
revenues of $78.9 million, for the year ending December 31, 1995.
In 1994 the company earned $0.64 million, or a loss of 17 cents
per share, after giving effect to Preferred Stock dividends, on
revenues of $75 million.
In the fourth quarter, NYCOR had a loss of $0.95 million, or 19
cents per share, on revenues of $22.3. Fourth quarter earnings
in 1994 were $0.06 million, or a loss of 5 cents per share, after
giving effect to Preferred Stock dividends, on revenues of $19
million.
The company stated that its earnings continue to be impacted by
manufacturing inefficiencies at its compressor operations as
efforts to operate an automated assembly system delivered in the
third quarter of 1995 continue. The company continues to expect
that in 1996 there will be a strong demand for rotary air
conditioner compressors as a result of the global shortage of
compressors and that the investments made in 1995 to improve
efficiency at its compressor operations will favorably impact
1996 results. The company also stated that it believes
management at its Melcor operation, which produces thermoelectric
heating and cooling modules, is positioning Melcor to take
advantage of opportunities in the markets it serves.
The company has previously announced its agreement to merge with
Fedders Corporation, subject to approval of the stockholders of
both companies.
The company also announced that the Board of Directors has
declared a dividend of $0.425 per share of its $1.70 Convertible
Exchangeable Preferred Stock, to be paid March 15, 1996 to
stockholders of record on March 1, 1996. The company's preferred
stock will be exchanged on March 15, 1996 for 8 1/2% Convertible
Subordinated Debentures due 2012.
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NYCOR, Inc.
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Results of the year ended December 31,1995
(Amounts in Thousands, Except Per Share Data)
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Twelve Months
Ended Dec. 31
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1995 1994
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Net Sales $78,867 $75,237
Net Income (loss) $(4,061) $ 635
Net income (loss) per share $ (0.79) $(0.17)
Weighted average shares 7,580 7,583
Preferred stock dividends $ 1,955 $ 1,955
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Fourth Quarter
Ended Dec. 31
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1995 1994
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Net Sales $22,280 $19,122
Net Income (loss) $ (947) $ 60
Net income (loss) per share $(0.19) $(0.05)
Weighted average shares 7,580 7,580
Preferred stock dividends $ 489 $ 489
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