SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2002
ROBOMATIX TECHNOLOGIES LTD.
1 Azrieli Center
Tel Aviv, 67021
Israel
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F___X___ | Form 40-F______ |
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(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): 82-___________
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Robomatix Technologies Announces Financial Results for the
Three Months Ended March 31, 2002
TEL AVIV, Israel, December 4 /PRNewswire/ -- Robomatix Technologies Ltd. (OTC Bulletin Board: RBMXF), a holding company, announced today its financial results for the first quarter of year 2002. As used herein, "Robomatix" or "Company" refers to Robomatix Technologies Ltd. and its consolidated subsidiaries, unless the context suggests otherwise or when we refer to a specific subsidiary.
Robomatix currently holds, through a wholly owned subsidiary, all of the outstanding share capital of Franz Kalff GmbH, a German company engaged in the business of manufacturing through contractors, marketing and sale of first aid kits primarily for the automotive industry. Additionally, Robomatix holds indirect interests in eLady Ltd., a Japanese Internet commerce portal for women, and direct interests in Leader Tech Ltd., an Israeli company that purchases and invests in companies in the field of venture capital and technology. The Company's principal objective is the acquisition of substantial interests in, and the promotion of, technology-based, Internet, communication and other operating businesses or companies. Robomatix's holdings in non-technology-based companies, such as Franz Kalff, allow it to diversify the Company's business activities and thereby lessen its reliance on any particular industry sector. Due to the current market conditions, the Company's ability to successfully achieve its goals is dependent on its ability to raise or borrow additional funds.
Sales for the first quarter of 2002 were $3.3 million, compared to sales of $4.3 million in the first quarter of 2001. Gross margins for the first quarter of 2002 were 19.9%, compared to 19.9% for the first quarter of 2001.
Selling, general and administrative expenses in the first three months of 2002 decreased to $0.46 million from $0.61 million in the first three months of 2001.
The Company reported a net income for the first quarter of 2002 of $0.19 million, or $0.01 per share. This compares to a net loss of $0.055 million, or $0.005 per share in the first quarter of 2001.
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Forward Looking Statements
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Statements containing terms like "believes," "does not believe," "plans," "expects," "intends," "estimates," "anticipates" and other phrases of similar meaning are considered to imply uncertainty and are forward-looking statements.
Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
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CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
March 31, December 31, 2002 2001 Unaudited ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,249 $ 327 Trade receivables (net of allowance for doubtful accounts of $58 and $61 at March 31, 2002 and December 31, 2001, respectively) 1,593 1,252 Other accounts receivable and prepaid expenses 119 201 Inventories 1,110 2,255 -------- -------- Total current assets 4,071 4,035 -------- -------- LONG-TERM INVESTMENTS 2,881 2,881 -------- -------- PROPERTY, PLANT AND EQUIPMENT, NET 3,429 3,494 -------- -------- DEFERRED TAXES 2,417 2,516 -------- -------- Total assets $ 12,798 $ 12,926 ======== ========
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March 31, December 31, 2002 2001 Unaudited LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Short-term bank credit $ - $ 319 Current maturities of long-term loan 596 577 Trade payables 950 930 Other accounts payable and accrued expenses 1,408 1,337 -------- -------- Total current liabilities 2,954 3,163 -------- -------- LONG-TERM LIABILITIES: Long-term loan, net of current maturities 3,865 3,936 Accrued severance pay 472 477 -------- -------- 4,337 4,413 -------- -------- SHAREHOLDERS' EQUITY: Share capital - Ordinary shares of NIS 1.46 par value: Authorized: 30,000,000 shares at June 30, 2002 and December 31, 2001; Issued and outstanding: 13,599,626 shares at June 30, 2002 and December 31, 2001 5,649 5,649 Additional paid-in capital 29,524 29,524 Accumulated other comprehensive loss (105) (69) Accumulated deficit (29,561) (29,754) -------- -------- Total shareholders' equity 5,507 5,350 -------- -------- Total liabilities and shareholders' equity $ 12,798 $ 12,926 ======== ========
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Three months ended Year ended March 31, December 31, 2002 2001 2001 Unaudited Sales Cost of sales $ 3,378 $ *) 4,256 $ *) 8,226 2,707 3,475 6,322 ---------- ---------- ---------- Gross profit 671 781 1,904 Selling and marketing expenses 129 *) 176 *) 566 General and administrative expenses 332 435 1,762 ---------- ---------- ---------- Operating income (loss) 210 170 (424) Impairment of long-term investments - - (1,390) Other income (expenses) 72 (13) 362 Financial expenses, net (24) (63) (284) ---------- ---------- ---------- Income (loss) from continuing operations before taxes on income 258 94 (1,736) Taxes on income 65 149 88 ---------- ---------- ---------- Net income (loss) $ 193 $ (55) $ (1,824) ========== ========== ========== Basic and diluted net earnings (loss) per share (in U.S. dollars) $ 0.01 $ (0.005) $ (0.13) ========== ========== ========== Weighted average number of shares used in computing basic earnings (loss) per share 13,599,626 12,741,798 13,520,722 ========== ========== ========== Weighted average number of shares used in computing diluted earnings (loss) per share 13,599,626 12,741,798 13,587,389 ========== ========== ==========
*) Reclassified.
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Robomatix Technologies Announces Financial Results for the Six Months Ended
June 30, 2002
TEL AVIV, Israel, December 4 /PRNewswire/ -- Robomatix Technologies Ltd. (OTC Bulletin Board: RBMXF), a holding company, announced today its financial results for the second quarter of year 2002. As used herein, "Robomatix" or "Company" refers to Robomatix Technologies Ltd. and its consolidated subsidiaries, unless the context suggests otherwise or when we refer to a specific subsidiary.
Robomatix currently holds, through a wholly owned subsidiary, all of the outstanding share capital of Franz Kalff GmbH, a German company engaged in the business of manufacturing through contractors, marketing and sale of first aid kits primarily for the automotive industry. Additionally, Robomatix holds indirect interests in eLady Ltd., a Japanese Internet commerce portal for women, and direct interests in Leader Tech Ltd., an Israeli company that purchases and invests in companies in the field of venture capital and technology. The Company's principal objective is the acquisition of substantial interests in, and the promotion of, technology-based, Internet, communication and other operating businesses or companies. Robomatix's holdings in non-technology-based companies, such as Franz Kalff, allow it to diversify the Company's business activities and thereby lessen its reliance on any particular industry sector. Due to the current market conditions, the Company's ability to successfully achieve its goals is dependent on its ability to raise or borrow additional funds.
Sales for the second quarter of 2002 were $1.8 million, compared to sales of $3.3 million in the first quarter of 2002 and $1.4 million in the second quarter of 2001. Gross margins for the second quarter of 2002 were 24.6%, compared to 19.9% for the first quarter of 2002 and 24.2% for the second quarter of 2001.
The Company reported a net loss for the second quarter of 2002 of $(0.17) million, or $(0.01) per share. This compares to a net income of $0.19 million, or $0.14 per share in the first quarter of 2002, and a net loss of $(0.11) million, or $(0.01) per share, for the second quarter of 2001.
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Sales for the first six months of 2002 were $5.1 million, compared to sales of $5.6 million for the first six months of 2001. Gross margins were 21.5% for the first six months of 2002, and 19.8% for the first six months of 2001. Selling, general and administrative expenses in the first six months of 2002 decreased to $0.97 million from $1.2 million in the first six months of 2001. The Company reported a net income for the first six months of 2002 of $0.03 million, or $0.00 per share, compared to a net loss of $(0.17) million, or $(0.01) per share in the first six months of 2001.
Forward Looking Statements
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Statements containing terms like "believes," "does not believe," "plans," "expects," "intends," "estimates," "anticipates" and other phrases of similar meaning are considered to imply uncertainty and are forward-looking statements.
Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.
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CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
June 30, December 31, 2002 2001 Unaudited ASSETS CURRENT ASSETS: Cash and cash equivalents 1,097 327 Trade receivables (net of allowance for doubtful accounts of $ 56 and $ 61 at June 30, 2002 and December 31, 2001, respectively) 1,402 1,252 Other accounts receivable and prepaid expenses 196 201 Inventories 1,421 2,255 ------ ------ Total current assets 4,116 4,035 ------ ------ LONG-TERM INVESTMENTS 2,903 2,881 ------ ------ PROPERTY, PLANT AND EQUIPMENT, NET 3,651 3,494 ------ ------ DEFERRED TAXES 2,736 2,516 ------ ------ Total assets 13,406 12,926 ====== ======
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June 30, December 31, 2002 2001 Unaudited LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Short-term banks credit - 319 Current maturities of short-term loan 589 577 Trade payables 666 930 Other accounts payable and accrued expenses 1,554 1,337 ------- ------- Total current liabilities 2,809 3,163 ------- ------- LONG-TERM LIABILITIES: Long-term loans net of current maturities 4,452 3,936 Accrued severance pay 532 477 ------- ------- 4,984 4,413 ------- ------- SHAREHOLDERS' EQUITY: Share capital - Ordinary shares of NIS 1.46 par value: Authorized: 30,000,000 shares at June 30, 2002 and December 31, 2001; Issued and outstanding: 13,599,626 shares at June 30, 2002 and December 31, 2001 5,649 5,649 Additional paid-in capital 29,524 29,524 Accumulated other comprehensive loss 167 (69) Accumulated deficit (29,727) (29,754) ------- ------- 5,613 5,350 ------- ------- Total liabilities and shareholders' equity 13,406 12,926 ======= =======
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Six months ended Three months ended Year ended June 30, June 30, December 31, 2002 2001 2002 2001 2001 Unaudited Sales 5,145 *) 5,640 1,767 *) 1,384 *) 8,226 Cost of sales 4,040 4,524 1,333 1,049 6,322 ---------- ---------- ---------- ---------- ---------- Gross profit 1,105 1,116 434 335 1,904 ---------- ---------- ---------- ---------- ---------- Sales and marketing expenses 276 *) 291 147 *) 115 *) 566 General and administrative expenses 698 894 366 459 1,762 ---------- ---------- ---------- ---------- ---------- 974 1,185 513 574 2,328 ---------- ---------- ---------- ---------- ---------- Operating profit (loss) 131 (69) (79) (239) (424) Impairment of long-term investments - - - - (1,390) Other income (expenses), net 151 132 79 145 362 Financial income (expenses), net (172) (141) (148) (78) (284) ---------- ---------- ---------- ---------- ---------- Income (loss) before taxes on income 110 (78) (148) (172) (1,736) Taxes on income 83 88 18 (61) 88 ---------- ---------- ---------- ---------- ---------- Net income (loss) 27 (166) (166) (111) (1,824) ========== ========== ========== ========== ========== Basic and diluted net earnings (loss) per share (U.S. dollars) - (0.01) (0.01) (0.01) 0.13 ========== ========== ========== ========== ========== Weighted average number of shares used in computing basic and diluted earning (loss) per share 13,599,626 13,440,510 13,666,293 13,599,626 13,520,722 ========== ========== ========== ========== ========== Weighted average number of shares used in computing diluted earnings (loss) per share 13,599,626 13,599,626 13,599,626 13,599,626 13,587,389 ========== ========== ========== ========== ==========
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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.
ROBOMATIX TECHNOLOGIES LTD. By:________/s/___________ Zvika Barinboim Chairman of the Board of Directors |
Date: December 4, 2002
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