Michigan
|
0-20206
|
38-2381442
|
(State
or Other Jurisdiction
|
(Commission
|
(IRS
Employer
|
of
Incorporation)
|
File
Number)
|
Identification
No.)
|
|
|
|
47827
Halyard Drive, Plymouth, MI
|
48170-2461
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
o
|
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o
|
Pre-commencement
communication pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b)
|
o
|
Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
PERCEPTRON,
INC. AND SUBSIDIARIES
|
||||||||||
CONSOLIDATED
STATEMENTS OF INCOME
|
||||||||||
Reconciliation
of Non-U.S. GAAP Statements of Income with U.S.
GAAP
|
||||||||||
(UNAUDITED)
|
||||||||||
Three
Months Ended
|
||||||||||
December
31, 2007
|
||||||||||
In
Accordance
|
Non-U.S.
GAAP
|
Non-U.S.
GAAP,
|
||||||||
(In
Thousands, Except Per Share Amounts)
|
with
U.S. GAAP
|
Adjustment
|
Before
Impairment
|
|||||||
Net
Sales
|
$
|
19,117
|
$
|
-
|
$
|
19,117
|
||||
Cost
of Sales
|
10,276
|
84
|
(1)
|
10,360
|
||||||
Gross
Profit
|
8,841
|
8,757
|
||||||||
Operating
Expenses
|
||||||||||
Selling,
general and administrative
|
4,609
|
210
|
(1)
|
4,819
|
||||||
Engineering,
research and development
|
2,202
|
99
|
(1)
|
2,301
|
||||||
Total
operating expenses
|
6,811
|
309
|
7,120
|
|||||||
Operating
Income (Loss)
|
2,030
|
(393
|
)
|
1,637
|
||||||
Other
Income and (Expenses)
|
||||||||||
Interest
income, net
|
329
|
-
|
329
|
|||||||
Foreign
currency gain (loss)
|
50
|
-
|
50
|
|||||||
Impairment
on long-term investment
|
(2,614
|
)
|
2,614
|
(2)
|
-
|
|||||
Other
|
5
|
-
|
5
|
|||||||
Total
other income (expenses)
|
(2,230
|
)
|
2,614
|
384
|
||||||
Income
(Loss) Before Income Taxes
|
(200
|
)
|
2,221
|
2,021
|
||||||
Income
Tax Expense (Benefit)
|
(12
|
)
|
755
|
(3)
|
743
|
|||||
Net
Income (Loss)
|
$
|
(188
|
)
|
$
|
1,466
|
$
|
1,278
|
|||
Earnings
(Loss) Per Common Share
|
||||||||||
Basic
|
($0.02
|
)
|
$
|
0.17
|
$
|
0.15
|
||||
Diluted
|
($0.02
|
)
|
$
|
0.16
|
$
|
0.14
|
||||
Weighted
Average Common Shares Outstanding
|
||||||||||
Basic
|
8,405
|
8,405
|
8,405
|
|||||||
Dilutive
effect of stock options
|
-
|
604
|
604
|
|||||||
Diluted
|
8,405
|
9,009
|
9,009
|
(1)
|
Adjustments
to reflect reduced state taxes and employee profit sharing payments
as a
result of the Impairment charge.
|
|||
(2)
|
Adjustment
to reflect the reversal of the Impairment charge.
|
|||
(3)
|
Adjustments
to reflect the U.S. income tax impact of the non-U.S. GAAP
adjustments.
|
PERCEPTRON,
INC.
(Registrant)
|
|
Date: February 15, 2008 | /s/ John H. Lowry, III |
By:
John H. Lowry, III
Title:
Chief Financial Officer
|