|
Quotes & Info
|
| KTII > SEC Filings for KTII > Form 8-K on 12-Mar-2009 | All Recent SEC Filings |
12-Mar-2009
Results of Operations and Financial Condition
On March 9, 2009, K-Tron International, Inc. issued a press release announcing its fourth quarter and full year 2008 financial results. The press release is being furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
The press release furnished with this report contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The Company is providing cash per common share as of the year ended January 3, 2009 and improvement in net debt from the end of fiscal year 2007 (December 29, 2007) to the end of fiscal year 2008 (January 3, 2009). Cash per common share of approximately $15.00 at the end of the 2008 fiscal year was calculated by dividing cash of $42.153 million by the total number of common shares outstanding of 2,791,947. Net debt improvement of $24.569 million in fiscal 2008 is the difference between (i) debt in excess of cash of $6.078 million at the end of fiscal 2007 (calculated by subtracting cash of $32.036 million from debt of $38.114 million) and (ii) cash in excess of debt of $18.491 million at the end of fiscal 2008 (calculated by subtracting debt of $23.662 million from cash of $42.153 million). K-Tron believes that these non-GAAP financial measures will be useful to investors concerned about liquidity. These measures should be considered in addition to, not as a substitute for, measures of financial performance prepared in accordance with GAAP.
The information in this Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
|
|