SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report: July 8, 1999
-------------------------------
Date of earliest event reported
YOCREAM INTERNATIONAL, INC.
----------------------------------------------------
Exact name of registrant as specified in its Charter
OR 0-16787 91-0989395
------------- ----------- --------------
State of Commission IRS Employer
Incorporation File Number Identification
Number
5858 N.E. 87th Avenue, Portland, Oregon 97220
------------------------------------------------------------------------
Address of principal executive office Zip Code
Registrant's telephone number, including area code: (503) 256-3754
INTERNATIONAL YOGURT COMPANY
---------------------------------
Former name or former address
if changed since last report
This filing contains 4 pages
1
<PAGE>
Item 5. Other Events.
On June 29, 1999 the Board of Directors of the Registrant approved a
stock buy back plan for up to 50,000 of the Registrant's common shares. The
Registrant's common stock is quoted on the Nasdaq Small Cap market under the
trading symbol YOCM. These repurchases may occur from time-to-time in the
discretion of management in open market transactions over the next several
months. The Registrant will cancel all shares repurchased in this manner.
The Registrant also issued a press release concerning this stock buy back
plan, a copy of which is attached hereto as Exhibit 7(c)(i).
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
(i) Exhibit 99 Press Release dated as of July 8, 1999.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this reported to be signed on its behalf of
the undersigned hereunto duly authorized.
YOCREAM INTERNATIONAL, INC.
(Registrant)
Date: July 8, 1999 By: /s/ John N. Hanna
----------------------------------------
John N. Hanna, Chief Executive Officer
2
<PAGE>
EXHIBIT INDEX
EXHIBIT
99 Press Release dated July 8, 1999
3
<PAGE>
FOR IMMEDIATE RELEASE
For More Information Contact:
Terry Lusetti Dolores Chenoweth
Investor Relations in.ves'com
503-256-3754 503-469-0338
YOCREAM INTERNATIONAL, INC. ANNOUNCES
STOCK BUY BACK PLAN
PORTLAND, OR - July 8, 1999 - YOCREAM International, Inc. (Nasdaq: YOCM), a
manufacturer and wholesaler of frozen desserts and smoothies, announced today
that its board of directors has approved a stock buy back plan for up to
50,000 common shares. The shares earmarked for buy back plan for
approximately 2 percent of the company's outstanding 2,372,761 common stock
(diluted).
"At the current market price, the company believes that buying the
stock back is an appropriate use of the company's capital resources and in
the best interest of shareholders," said John Hanna, chief executive officer
of YOCREAM. The company plans to purchase the shares in open market
transactions over the next several months.
YOCREAM International, Inc. (formerly International Yogurt Company)
makes, markets and sells frozen desserts, snacks and smoothies throughout the
United States and in several foreign countries. For the fiscal year ended
October 31, 1998, the company reported sales of $10.2 million, up 18 percent
from the prior year. Sales for the six months ended April 30, 1999 increased
52 percent to $5.8 million, operating income rose 179 percent to $542,583 and
net income improved 92 percent to $357,666 or $0.15 per share (basic and
diluted).
1
<PAGE>
