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<SEC-DOCUMENT>0000891092-04-004256.txt : 20040826
<SEC-HEADER>0000891092-04-004256.hdr.sgml : 20040826
<ACCEPTANCE-DATETIME>20040826094253
ACCESSION NUMBER:		0000891092-04-004256
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040825
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20040826
DATE AS OF CHANGE:		20040826

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KEWAUNEE SCIENTIFIC CORP /DE/
		CENTRAL INDEX KEY:			0000055529
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY APPARATUS & FURNITURE [3821]
		IRS NUMBER:				380715562
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05286
		FILM NUMBER:		04997585

	BUSINESS ADDRESS:	
		STREET 1:		2700 W FRONT ST
		CITY:			STATESVILLE
		STATE:			NC
		ZIP:			28677
		BUSINESS PHONE:		7048737202

	MAIL ADDRESS:	
		STREET 1:		P O BOX 1842
		CITY:			STATESVILLE
		STATE:			NC
		ZIP:			28687-1842

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEWAUNEE SCIENTIFIC EQUIPMENT CORP /DE/
		DATE OF NAME CHANGE:	19861216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEWAUNEE MANUFACTURING CO
		DATE OF NAME CHANGE:	19680108
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e18933_8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>

================================================================================

                                  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) August 25, 2004

                         Kewaunee Scientific Corporation
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                        0-5286                 38-0715562
- ----------------------------         ----------------        -------------------
(State or other jurisdiction         (Commission File           (IRS Employer
     of incorporation)                    Number)            Identification No.)

2700 West Front Street
Statesville, North Carolina                                         28677
- ----------------------------------------                          ----------
(Address of principal executive offices)                          (Zip Code)

        Registrant's telephone number, including area code 704-873-7202

                                       N/A
          ------------------------------------------------------------
          (Former name or former address if changed since last report)

================================================================================


<PAGE>

Item 9.01         Financial Statements and Exhibits
- ---------         ---------------------------------

(c)               Exhibits.

Exhibit No.       Subject Matter
- -----------       --------------

99.1              Press Release dated August 25, 2004, of Kewaunee Scientific
                  Corporation, announcing its first quarter earnings.

Item 2.02         Results of Operations and Financial Condition.
- ---------         ----------------------------------------------

                  On August 25, 2004 Kewaunee Scientific Corporation (the
                  "Company") issued a Press Release announcing its first quarter
                  earnings. The Press Release is incorporated herein by
                  reference, and is included as Exhibit 99.1 to this Current
                  Report on Form 8-K.

                  This information shall not be deemed "filed" for purposes of
                  Section 18 of the Securities Exchange Act of 1934 (the
                  "Exchange Act"), or otherwise subject to the liability of that
                  section, nor shall it be deemed incorporated by reference in
                  any filing under the Securities Act of 1933 or the Exchange
                  Act, except as expressly set forth by specific reference in
                  such filing.


                                       2
<PAGE>

                                   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.

                                                      (Registrant)
                                             Kewaunee Scientific Corporation

           Date: August 25, 2004             By: /s/ D. Michael Parker
                                                 ------------------------------
                                                 Senior Vice President,
                                                 Finance Chief Financial Officer


                                       3

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e18933ex99_1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>

                                                                    Exhibit 99.1

             Kewaunee Scientific Reports Results for First Quarter

    STATESVILLE, N.C., Aug. 25 /PRNewswire-FirstCall/ -- Kewaunee Scientific
Corporation (Nasdaq: KEQU) today reported results for its first quarter ended
July 31, 2004.

    Sales for the quarter were $20,288,000, as compared to sales of
$24,213,000 in the same period last year.  Net earnings for the quarter were
$193,000, or $0.08 per diluted share, as compared to net earnings of $461,000,
or $0.19 per diluted share, in the same quarter last year.  Net earnings for
the prior year were increased by $189,000, or $.08 per diluted share,
associated with the resolution during the quarter of an old disputed claim for
laboratory furniture.

    Sales of laboratory products to industrial research customers slowed
during the quarter, as the number of opportunities in this marketplace
declined and a number of announced projects were delayed.  The demand for
technical products in the high-tech marketplace also softened further during
the quarter.  The educational marketplace for laboratory products remained
firm.  The order backlog at July 31, 2004 was $39.6 million.  This compares to
a backlog of $43.1 million at April 30, 2004 and  $50.7 million at July 31,
2003.

    Earnings for the quarter were unfavorably impacted by the lower sales and
production volumes and significantly higher costs of steel, wood, and other
raw materials, as well as higher energy costs.  The impact of these factors
was partially offset by lower manufacturing costs.

    "The lower sales volumes, combined with higher costs for raw materials and
energy, resulted in a challenging, as well as disappointing, quarter," said
William A. Shumaker, President and Chief Executive Officer of Kewaunee.  "We
are aggressively taking actions to reduce costs until our markets improve.
These include a recent significant workforce reduction in Statesville, tight
controls over spending, and the implementation of a number of strategies to
further reduce our costs.

    "We are excited about a number of activities currently underway to
increase sales," Mr. Shumaker continued.  "We are pursuing sales opportunities
for our products in several new markets through potential strategic
partnerships with well-established companies.  We have also increased our
emphasis on opportunities in the rapidly-growing Asian laboratory research
market."

    Kewaunee Scientific Corporation is a recognized leader in the design,
manufacture, and installation of scientific and technical furniture.  The
Company's corporate headquarters and manufacturing facilities are located in
Statesville, North Carolina. Kewaunee Scientific's website is located
at http://www.kewaunee.com .


    Certain statements in this release constitute "forward-looking" statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that could significantly impact results or achievements
expressed or implied by such forward-looking statements. These factors
include, but are not limited to, economic, competitive, governmental, and


technological factors affecting the Company's operations, markets, products,
services, and prices.



         Condensed Consolidated Statements of Operations [unaudited]
                    (in thousands, except per share data)

                                                       Three Months Ended
                                                            July 31
                                                      2004           2003

    Net sales                                        $20,288        $24,213
    Cost of products sold                             16,912         20,610

    Gross profit                                       3,376          3,603
    Operating expenses                                 3,046          3,001

    Operating earnings                                   330            602
    Interest expense                                     (86)           (78)
    Other income, net                                     49            196

    Earnings before income taxes                         293            720
    Income tax expense                                   100            259

    Net earnings                                        $193           $461*

    Net earnings per share
      Basic                                            $0.08          $0.19
      Diluted                                          $0.08          $0.19

    Weighted average number of common
    shares outstanding (in thousands)
      Basic                                            2,490          2,485
      Diluted                                          2,500          2,489

    * Includes an after-tax gain of $189,000, or $.08 per diluted share,
      associated with the resolution during the quarter of an old disputed
      claim for laboratory furniture.


                    Condensed Consolidated Balance Sheets
                    (in thousands, except per share data)

                                                   July 31         April 30
                                                     2004            2004
                                                 [unaudited]

    Assets
    Cash and cash equivalents                         $1,125         $1,167
    Receivables, less allowances                      24,444         24,987
    Inventories                                        3,867          4,285
    Prepaid expenses and other current assets          1,186          1,097
      Total current assets                            30,622         31,536
    Net property, plant and equipment                 11,005         11,362
    Other assets                                       7,370          7,563
    Total Assets                                     $48,997        $50,461

    Liabilities and Stockholders' Equity
    Short-term borrowings                             $7,987         $6,996
    Current portion of long-term debt                  1,118          1,118
    Accounts payable                                   5,605          6,924
    Other current liabilities                          3,019          3,881
      Total current liabilities                       17,729         18,919
    Long-term debt                                       652            931
    Other non-current liabilities                      3,809          3,820
    Total stockholders' equity                        26,807         26,791
    Total Liabilities and Stockholders' Equity       $48,997        $50,461

     Contact:  D. Michael Parker
               704/871-3290



SOURCE  Kewaunee Scientific Corporation
    -0-                             08/25/2004
    /CONTACT:  D. Michael Parker of Kewaunee Scientific Corporation,
+1-704-871-3290/
    /Web site:  http://www.kewaunee.com /
    (KEQU)

CO:  Kewaunee Scientific Corporation
ST:  North Carolina
IN:  CPR
SU:  ERN

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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