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): August 14 , 1997
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ANTENNAS AMERICA, INC.
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(Exact name of registrant as specified in its charter)
Utah 0-18122 87-0454148
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(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation) Number) Identification No.)
4860 Robb Street, Suite 101, Wheat Ridge, Colorado 80033-2163
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 421-4063
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Item 5. Other Events.
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Press Release. The press release of the Registrant dated August 14, 1997,
which is filed as an exhibit hereto, is incorporated herein by reference.
Item 7. Financial Statements And Exhibits.
(c) Exhibits.
Exhibit Index
Exhibit
Number Description
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99.1 Press release dated August 14, 1997.
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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.
Date: August 14, 1997 ANTENNAS AMERICA, INC.
By: /S/ RANDALL P. MARX
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Randall P. Marx
Chief Executive Officer
EXHIBIT 99.1
On August 14, 1997, the Registrant issued the following press release:
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NEWS RELEASE
Antennas America, Inc., announces increase in earnings
for the second quarter of 1997.
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WHEAT RIDGE, COLORADO, August 14, 1997 - Antennas America, Inc. (OTC:
BB:ANTM) Antennas America, Inc. reported record sales of $744,606 for the
quarter ended June 30, 1997, an increase of 67% from the $445,541 in sales
reported for the same quarter in 1996. For the first half of 1997, Antennas
America, Inc. sales increased 41% from the same period last year. Net income for
the second quarter of 1997 increased to $37,749 from $4,149 for the same period
in 1996. In addition, Gross Profit Margin (gross profit divided by net sales)
increased 9% as compared to the same period last year and Selling General, and
Administrative expenses increased 43%. The increase in SG&A expenses is a result
of the increased marketing, advertising and personnel expenses associated with
the sales of the new Freedom(TM) and Walldo(TM) antenna systems.
Randall P. Marx, Chief Executive Officer of Antennas America, Inc. stated "We
are pleased with the progress thus far in 1997 in terms of growth in both sales
and earnings. Sales of the new Freedom(TM) and Walldo(TM) antenna systems are on
track, and sales of the Company's patented mobile antenna line were
significantly stronger than anticipated, with a larger portion of these sales to
new international customers. During the second quarter, orders for flat panel
antennas also increased creating a backlog for deliveries in September and O.E.
(Original Equipment) sales also increased.
"The primary strength of Antennas America is its diversification. The Company
manufactures and markets several different products for various wireless
technologies. The Company's licensing agreement with DIRECTV(R) to use the
DSS(R) trademark has supported our marketing efforts of the Freedom(TM) antenna.
The sales of the Freedom(TM) and Walldo(TM) antennas are evident in the increase
in revenues in the second quarter. Due to the projected increase in these and
other flat panel antenna products currently in production, we have made an
investment in new equipment and machinery to further support the increase in
production."
"Another notable event that occurred during the quarter was the securing of the
$500,000 credit facility with Norwest Business Credit, Inc., a subsidiary of
Norwest Bank, Minneapolis, Minnesota. The use of this line of credit will enable
the Company to better pursue our planned growth and new product development."
"It is hoped that these factors strengthen shareholder value and will contribute
to Antennas America, Inc.'s future growth."
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This report contains forward looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Although the Company believes that the expectations reflected in the
forward-looking statements and the assumptions upon which the forward-looking
statements are based are reasonable it can give no assurance that such
expectations and assumptions will prove to have been correct. See the Company's
Annual Report on Form 10-KSB for additional statements concerning important
factors, such as demand for products, manufacturing costs, and competition, that
could cause actual results to differ materially from the Company's expectations.
Antennas America, Inc., using technology developed by the Company, designs,
develops and manufacturers a complete line of antenna and related systems for
the wireless communications industry. These products include several planar
array flat antennas for indoor and outdoor use as well as conformal antennas
designed for smaller applications such as radios and computer devices. The
Company also provides custom antenna designs and manufacturing for Original
Equipment Manufacturers (O.E.M.) and for emerging wireless communications
markets.
For more
information contact:
Randall P. Marx or
Richard L. (Andy) Anderson
303-421-4063
Email: [email protected]
