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): November 25, 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 November 25 ,
1997, which is filed as an exhibit hereto, is incorporated herein by reference.
Item 7. Financial Statements And Exhibits.
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(c) Exhibits.
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Exhibit Index
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Exhibit
Number Description
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99.1 Press release dated November 25, 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: November 25, 1997 ANTENNAS AMERICA, INC.
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By: /s RICHARD L. ANDERSON
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Richard L. Anderson
Vice President
EXHIBIT 99.1
On November 25 , 1997, the Registrant issued the following press release:
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NEWS RELEASE
Antennas America, Inc., announces increase in earnings
for the third quarter of 1997.
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WHEAT RIDGE, COLORADO, November 25, 1997 - Antennas America, Inc. (OTC: BB:ANTM)
reported sales of $695,600 for the quarter ended September 30, 1997, an increase
of 30% from the sales reported for the same quarter in 1996. For the first nine
months of 1997, sales increased 37% from the same period last year. Net income
for the third quarter of 1997 increased to $14,601 from $5,479 for the same
period in 1996. In addition, the Gross Profit Margin (gross profit divided by
net sales) for the nine month period ended September 30, 1997 increased 4% as
compared to the same period last year, while the Selling, General and
Administrative expenses increase 30%. The increase in Selling, General and
Administrative expenses is the result of the increased marketing, advertising
and personnel expenses associated with the sales of the new Freedom(TM) and
Walldo(TM) antenna systems, along with the expenses incurred as the result of
the investment in new equipment for the in-house manufacture of the Company's
primary plastic components for its off-air, MMDS, and panel antenna series.
Compared to December 31, 1996 the Company's total assets as of September 30,
1997 increased $370,589 to $1,314,821, due primarily to the increase in sales,
accounts receivable and inventory. Liabilities increased from $613,775 to
$883,074, due to the ongoing use of the credit facility with Norwest Business
Credit, Inc. Shareholders equity improved from $330,457 to $431,747, which is
primarily a result of year to date net operating income. As of September 30,
1997 the Company continues to operate on a positive cash flow basis from its
operations. The Company has now reported 19 straight quarters of profitability.
Randall P. Marx, Chief Executive Officer of Antennas America, Inc. stated "The
third quarter of 1997 was a very important period for the Company. Going into
the third quarter, we determined that several changes to the Company's
manufacturing plan would need to be made in order for the Company to be capable
of capturing the revenue potential of our new products. After careful review,
the Company purchased additional manufacturing equipment and has successfully
integrated this machinery into its product plan. Not only will these investments
in equipment increase the Company's gross margins, but they will help the
Company to become its own primary supplier of most of the raw materials used in
its products. With over 50 dedicated employees and more control over the
delivery of the Company's products, we look forward not only to increased
revenues in 1998, but increased profits as well."
"Also, so the Company can be more responsive to the increasing demand for
product and shareholder information, the Company has engaged the Internet Stock
Exchange to list certain information about the Company on the Internet. The
Company's new web page, found on the World Wide Web at "www.antennas.com," will
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be incorporated into the Internet Stock Exchange listing to provide information
about products, financial statements, press releases, updates, and general
information about the Company. The Company's web page should be activated by
December 15, 1997. We believe that the web page will, among other things,
increase the investing public's awareness about the Company and will help keep
our current shareholders abreast of the Company's growth and diversified market
potential."
Antennas America, Inc. (the "Company") is a diversified company using its own
technology to design, develop and manufacture unique antenna solutions for the
rapidly expanding 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, and includes the new VHF/UHF off-air Freedom(TM) and Walldo(TM)
antennas. A partial list of the companies that utilize or purchase the Company's
products includes BellSouth, Comtrad, LoJack, Micron Communications, Norand,
Radio Shack, Target Stores, and Wards.
The Company anticipates a steady increase in the sales of its Freedom(TM) and
Walldo(TM) antennas not only as the result of its own marketing efforts but also
because of the growing marketing emphasis for local off-air antenna solutions by
companies selling 18" satellite dish systems, which include DirecTV(R) and USSB
among others, because consumers who purchase 18" diameter satellite dish systems
must use a separate antenna to receive their local television stations' signals.
Management believes that the Company is well positioned to benefit from
marketing efforts due in some measure to the previously announced license
granted to the Company by DirecTV(R) for the Company to use DirecTV's(R) DSS(R)
trademark on the Company's Freedom(TM) antenna.
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 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.
For more information contact:
Randall P. Marx or
Richard L. (Andy) Anderson
303-421-4063
Email: [email protected]
