<PAGE>
Form 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 12a-16 or 15d-16 of
the Securities Exchange Act of 1934
May 11, 2000
Commission File No 0-26498
NUR MACROPRINTERS LTD.
(Exact Name of Registrant as specified in its Charter)
Not Applicable
(Translation of Registrant's Name into English)
6 David Navon Street
Moshav Magshimim
56910 Israel
(Address and principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-f or Form 40-f.
Form 20-F /X/ Form 40-F / /
Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-b(b) under the Securities Exchange Act of
1934.
Yes / / No /X/
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b).
<PAGE>
Attached hereto and incorporated by reference herein is a press release
of the registrant dated May 11, 2000.
<PAGE>
NUR MACROPRINTERS LTD. REPORTS 12TH CONSECUTIVE RECORD QUARTER IN REVENUES AND
PROFITS
QUARTERLY REVENUES FROM CONTINUING OPERATIONS INCREASED BY 102.9%;
QUARTERLY EARNINGS DOUBLED
MAGSHIMIM, Israel, May 11 /PRNewswire/ -- NUR Macroprinters Ltd. (Nasdaq: NURM
News), a leading manufacturer and marketer of wide and superwide format digital
inkjet printers and consumables, today announced record revenues and record
profits for the first quarter ended March 31, 2000. This marks the twelfth
consecutive quarter of record revenues and earnings growth for the company.
Revenues for the first quarter of 2000 increased 85.40% to $21.47 million,
compared to $11.58 million for the same quarter last year. Gross profit
increased 75.13% to $9.97 million versus $5.69 million for the comparable period
last year. Total operating expenses increased 62.38% to $7.08 million in the
first quarter of 2000 from $4.36 million in the first quarter of 1999, due
primarily to increases in research and development and selling expenses. Net
income increased by 99.45% to $2.54 million from $1.27 million for the
comparable period last year. Earnings per share increased by 68.28% to $0.18 per
share on a fully diluted basis, as compared to $0.11 per share for the
comparable period last year.
Excluding M. NUR Marketing & Communication GmbH's ("NUR Germany") results from
the first quarter of 1999 (an operation that was sold during the third quarter
of 1999), revenues for the first quarter increased 102.9% from $10.58 million in
the first quarter of 1999. Gross profit increased 89.6% from $5.26 million for
the comparable period last year.
Mr. Erez Shachar, President and CEO remarked, "We've started the year positively
with our twelfth consecutive quarter of revenues and earnings growth. We believe
the strong revenue performance reflects strong initial market acceptance and
ensuing orders for the NUR Fresco(TM) wide-format screenless production press.
Production units of this pioneering product began shipping in January and we are
already starting to see rewarding results from units installed in the United
States, Europe and Asia."
"Demonstrating our commitment to introduce the NUR Fresco to the screen printing
industry as a digital alternative to conventional methods of production of
wide-format graphics for out-of-home advertising, in the first quarter of 2000
we've already begun developing strategic partnerships with leading players in
the screen printing market who are working together with us to usher in the
digital revolution to this huge potential market."
"We also attribute our continuing success to the strong market position of the
NUR Blueboard(TM) family of superwide printing systems," continued Mr. Shachar.
"On April 27th we introduced the newest model in the NUR Blueboard series, NUR
Blueboard HiQ+, at the International Sign Association exposition in Orlando,
Florida and, as a result, we have already generated initial sales of the new
product. We also expect our existing customer base will be very interested in
purchasing the HiQ+ upgrade kit for their installed machines."
"NUR Macroprinters takes a total solution approach to wide-format digital
printing," added Mr. Shachar. "Working closely with our customers, we are
succeeding in developing new applications for superwide printing which in turn,
we
<PAGE>
believe, will generate continuing growth in a market that is become increasingly
competitive."
About NUR Macroprinters Ltd.
NUR Macroprinters Ltd. is a world leader in the development, manufacturing,
marketing and servicing of wide and superwide format inkjet printing systems and
consumables for out-of-home advertising applications. The company's printers are
marketed principally to commercial printers, media companies, and screen
printers for a variety of large format applications. Common applications include
fleet graphics, billboards, exhibition and trade show displays, informational
murals and outdoor signage, frontlit and backlit displays for retail and
point-of-purchase windows, airports, hospitals, shopping centers, courtroom
exhibits, sporting events and cinema houses, decorative construction scaffolding
covers, scenery backdrops for theater, television and film studios and more. NUR
printers are installed in over 250 sites throughout Europe, North and South
America, Africa and Asia.
Certain statements made herein that use the words "estimate," "project,"
"intend," "expect," "believe" and similar expressions are intended to identify
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements involve known
and unknown risks and uncertainties which could cause the actual results,
performance or achievements of NUR Macroprinters Ltd. to be materially different
from those which may be expressed or implied by such statements, including,
among others, changes in general economic and business conditions and
specifically, decline in demand for NUR Macroprinters Ltd.'s products, inability
to timely develop and introduce new technologies, products and applications and
loss of market share and pressure on prices resulting from competition. For
additional information regarding these and other risks and uncertainties
associated with the company's business, reference is made to NUR Macroprinters
Ltd.'s reports filed from time to time with the Securities and Exchange
Commission.
<PAGE>
NUR MACROPRINTERS LTD.
Condensed Balance Sheets, US$ in thousands
March 31, December 31, Percent
2000 1999 Change
Current Assets :
Cash and cash equivalents $ 7,879 $ 9,190 -14%
Accounts receivable - trade 15,800 11,647 36%
Other receivables and prepaid
expenses 4,542 3,673 24%
Inventories 12,565 10,689 18%
Total Current Assets 40,786 35,199 16%
Investments
Investments and
other non-current assets 1,533 1,115 37%
Severance pay funds 557 514 8%
2,090 1,629 28%
Property and Equipment, net 2,595 2,723 -5%
Other assets, net 58 97 -40%
Total assets 45,529 39,648 15%
Liabilities and Shareholders'
Equity
Current Liabilities :
Short - term bank credit 3,265 2,743 19%
Current maturities of
long - term loans 814 832 -2%
Trade payables 9,341 8,243 13%
Accrued expenses and
other liabilities 7,333 5,573 32%
Advances from customers 600 1,791 -66%
Total Current Liabilities 21,353 19,182 11%
Long - Term Liabilities :
Long - Term loans 1,397 1,650 -15%
Long - Term Liabilities 293 293 --
Accrued severance pay 788 660 19%
2,478 2,603 -5%
Shareholders' Equity :
Share capital 2,997 2,940 2%
Capital surplus 19,190 17,702 8%
Cumulative translation
adjustment (369) (114) 224%
Deficit (120) (2,665) -95%
Total Shareholders' Equity 21,698 17,863 21%
Total Liabilities and
Shareholders' Equity 45,529 39,648 15%
<PAGE>
NUR MACROPRINTERS LTD.
Consolidated Statements Of Operations
U.S. $ in thousands, except per share data
3 Months ended Percent
3/31/00 3/31/99 Change
Revenues
Sales of printers and
related products $ 21,469 $ 10,579 102.94%
Sales of printed materials 1,001 -100.00%
21,469 11,580 85.40%
Cost of revenues
Cost of sales of printers
and related products 11,499 5,321 116.11%
Cost of sales of printed
materials 566 -100.00%
11,499 5,887 95.33%
Gross profit 9,970 5,693 75.13%
Research & Development expenses 1,927 1,220 57.95%
Less-Grants (214) (182)
Research & Development
expenses, net 1,713 1,038 65.03%
Selling expenses, net 3,349 2,018 65.96%
General and administrative
expenses 2,019 1,310 54.12%
5,368 3,328 61.30%
Operating income (loss) 2,889 1,327 117.71%
Financial expenses net (253) (91) 178.02%
Other income net 1 67 -98.51%
Taxes on income (278) (22) 1163.64%
Equity in the earnings
of affiliates, net of taxes 186 --
Minority interest (5) -100.00%
Net income for the period $ 2,545 1,276 99.45%
11.85% 11.02% 7.58%
Earning per share $ 0.21 $ 0.12 82.42%
Dilluted earnings per share $ 0.18 $ 0.11 68.28%
Weighted average number
of shares
outstanding during
the period 11,895,573 10,880,000
Weighted average number
of shares outstanding
during the period used
for dilluted earnings
per share 14,072,113 11,872,666
<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.
NUR MACROPRINTERS LTD.
Date: May 12, 2000 By: /s/ Erez Shachar
---------------------------
Name: Erez Shachar
Title: Chief Executive Officer
