UNITED STATES
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): February 7, 2003
ADDvantage Technologies Group, Inc.
(Exact name of Registrant as specified in its charter)
Oklahoma 1-10799 73-1351610
(State or other (Commission (I.R.S.
jurisdiction of File Employer
incorporation) Number) Identification
No.)
1605 E. Iola
Broken Arrow, Oklahoma
(Address of principal executive offices)
74012
(Zip code)
(918) 251-9121
(Registrant's telephone number, including area code)
Item 7. Financial Statements And Exhibits
(c) Exhibits
99.1 Press Release Announcing 1st Quarter 2003 Financial Results
Item 9. Regulation FD Disclosure
On February 7, ADDvantage Technologies Group, Inc. issued a press release
announcing the financial results for the first quarter of fiscal year 2003.
A copy of the press release is filed as an exhibit to this report and is
incorporated by reference herein.
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.
ADDvantage Technologies Group, Inc.
Dated: February 7, 2003 By: /s/ Kenneth A. Chymiak
------------------------------
Kenneth A. Chymiak, President
FD DISCLOSURE SCHEDULE
ADDvantage Technologies Group, Inc.
Reports First Quarter 2003 Results
Broken Arrow, Oklahoma, February 7, 2003--ADDvantage Technologies
Group, Inc. (OTCBB:ADDM) today announced its financial results for the
first quarter ended December 31, 2002.
Revenues for the first quarter of fiscal 2003 rose 37.8% to $7.7
million from $5.6 million for the same quarter of fiscal 2002, primarily
due to the positive results of marketing to the large cable multiple
system operators and the distributor relationships we have established
with Scientific Atlanta, Motorola and various other manufacturers within
the last two years. Net income applicable to Common Stock for the current
quarter increased 100% to $704,000, or $.07 per share, as compared to
$352,000, or $.04 per share in the prior year.
"We are pleased with our strong results despite challenging market
conditions," said Ken Chymiak, President of ADDvantage Technologies Group.
"Our strategic relationship with Scientific Atlanta, a large inventory of
both new and refurbished products and aggressive marketing at all of our
divisions were the primary drivers of our performance."
ADDVANTAGE TECHNOLOGIES GROUP, INC. and its subsidiaries, TULSAT, LEE
CATV Corporation, NCS Industries, Comtech Services, TULSAT - Texas,
and TULSAT-Atlanta comprise an organization involved in the re-
manufacture, repair and sale of previously owned cable television
("CATV") equipment and the distribution of new and surplus equipment
to CATV operators. For more information, please visit the corporate
web site at www.addvantagetech.com or contact the company directly at
918-251-9121.
The information in this announcement may include forward-looking
statements. All statements, other statements of historical facts,
which address activities, events or developments that the Company expects
or anticipates will or may occur in the future are forward-looking statements.
These statements are subject to risks and uncertainties which could cause
actual results and developments to differ materially from these statements.
A complete discussion of these risks and uncertainties is contained in the
Company's reports and documents filed from time to time with the Securities
and Exchange Commission.
ADDvantage Technologies Group, Inc.
Statement of Operations
(Unaudited)
ADDvantage Technologies Group, Inc.
Statement of Operations
(Unaudited)
Three Months Ended
December 31
2002 2001
Revenues $ 7,696,978 $ 5,584,729
Operating Income $ 1,648,604 $ 1,075,628
Net Income Applicable
to Common Stock $ 704,175 $ 351,780
Net Income Per Share
of Common Stock
Basic $ .07 $ .04
Diluted $ .07 $ .04
Shares Used in Computing
Net Income Per Share:
Basic and Diluted 10,004,181 9,991,716
For further information:
Company Contact:
Ken Chymiak (9l8) 25l-2887
David Chymiak (9l8) 25l-2887
Adam Havig (9l8) 25l-9l2l