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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
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 29, 2003
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PRAB, INC.
(Exact name of registrant as specified in its charter)
MICHIGAN 0-10187 38-1654849
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation) Identification No.)
5944 EAST KILGORE ROAD, P.O. BOX 2121, KALAMAZOO, MICHIGAN 49003
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (269) 382-8200
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ITEM 9. REGULATION FD DISCLOSURE.
On January 29, 2003, the Company released its fourth quarter and year end
results. The press release is attached to this Item 9 as Exhibit A.
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Exhibit A
PRAB, INC. For Additional Information Contact:
For Immediate Release Robert Klinge, CFO
January 29, 2003 (269) 382-8200
PRAB REPORTS 2002 RESULTS
KALAMAZOO, MICHIGAN...PRAB, INC. reports sales of $12,942,000 and a net profit
of $146,000 for the year ended October 31, 2002. These results compare with
sales of $14,847,000 and a net profit of $542,000 in the same period a year ago.
The order backlog of $2,899,000 at October 31, 2002 compares with $2,573,000 at
the end of the previous quarter ended July 31, 2002 and $2,995,000 at October
31, 2001.
Prab, Inc., operating under two divisions, Prab Conveyors and Hapman Conveyors,
designs and manufactures conveyors, metal scrap reclamation systems, and bulk
material handling equipment and systems for a wide variety of industrial markets
throughout the world.
PRAB, INC.
Summary of Financial Results
(in thousands of dollars except per share data)
FOURTH QUARTER ENDED YEAR ENDED
OCTOBER 31, OCTOBER 31,
2002 2001 2002 2001
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Sales $ 3,323 $ 3,623 $ 12,942 $ 14,847
Net Income (58) 320 146 542
Per Share $ (0.04) $ 0.17 $ 0.08 $ 0.30
SAFE HARBOR STATEMENT
As with any statements other than those reflecting historical facts,
forward-looking statements contained in this announcement involve risk, and, as
such, future financial performance may differ from current expectations due to a
variety of marketplace factors. These factors include, without limitation, those
disclosed in Prab Inc.'s 2002 Form 10-KSB filing with the Securities and
Exchange Commission.
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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 hereunto duly authorized.
PRAB, INC.
(Registrant)
Date: January 29, 2003 /s/ Gary A. Herder
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Gary A. Herder, Chief Executive Officer
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