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<SEC-DOCUMENT>0001275287-05-003352.txt : 20050825
<SEC-HEADER>0001275287-05-003352.hdr.sgml : 20050825
<ACCEPTANCE-DATETIME>20050825130033
ACCESSION NUMBER:		0001275287-05-003352
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050824
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050825
DATE AS OF CHANGE:		20050825

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:		051048157

	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>ks3465.txt
<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 24, 2005

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

           Delaware                      0-5286                38-0715562
 ----------------------------         ------------         -------------------
 (State or other jurisdiction         (Commission           (I.R.S. Employer
      of incorporation)               File 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.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities
     Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
     Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13a-4(c))

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

<PAGE>

ITEM  2.02     RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS

On August 24, 2005, Kewaunee Scientific Corporation issued a press release
announcing its financial results for the first quarter ended July 31, 2005. A
copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on
Form 8-K.

ITEM  9.01     FINANCIAL STATEMENTS AND EXHIBITS

     (C)   EXHIBITS:

     EXHIBIT NO.
        99.1        Press Release of Kewaunee Scientific Corporation dated
                    August 24, 2005

In accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or otherwise subject to the liabilities of that section,
and shall not be incorporated by reference into any registration statement or
other document filed under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific reference in
such filing.

<PAGE>

                                    SIGNATURE

        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.

                                               Kewaunee Scientific Corporation
                                               (Registrant)

Date:  August 25, 2005                         /s/ D. MICHAEL PARKER
                                               ---------------------------------
                                               Senior Vice President, Finance
                                               Chief Financial Officer
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ks3465ex991.txt
<TEXT>
                                                                    Exhibit 99.1

              KEWAUNEE SCIENTIFIC REPORTS RESULTS FOR FIRST QUARTER

    STATESVILLE, N.C., Aug. 24 /PRNewswire-FirstCall/ -- Kewaunee Scientific
Corporation (Nasdaq: KEQU) today reported results for its first quarter ended
July 31, 2005.

    Net earnings for the quarter were $763,000, or $0.31 per diluted share.
Excluding a gain on the sale of property, net earnings for the quarter were
$223,000, or $0.09 per diluted share, as compared to net earnings of $193,000,
or $0.08 per diluted share, in the same quarter last year. The previously
reported sale of the Company's plant site in Lockhart, Texas resulted in an
after-tax gain of $540,000, or $0.22 per diluted share.

    Sales for the quarter were $20,308,000, slightly above sales of $20,288,000
in the same period last year, and 5.7% above the previous quarter. The
laboratory furniture marketplace continued its improvement during the quarter.
The favorable impact of this improved marketplace on sales and earnings was
partially offset by a softer marketplace for technical furniture. Order activity
continued to improve, as in-coming orders of $20.4 million were the highest
level in the past five quarters. The order backlog at July 31, 2005 increased to
$40.7 million, as compared to $39.6 million at July 31, 2004, and was up
slightly from April 30, 2005.

    The Company's balance sheet remains strong. Total debt at July 31, 2005 was
$6.1 million, down from $9.8 million at July 31, 2004, while cash on hand at the
end of the quarter was $1.0 million. Book value per share was $10.66 at July 31,
2005.

    "The laboratory furniture marketplace continues to improve," said William A.
Shumaker, President and Chief Executive Officer. "Our recent quoting activity
for projects over $1 million is the highest in several years. Although larger
projects have delivery dates usually between 6-18 months from the order award
date, this increased activity bodes well for the long-term. Our efforts to
reduce raw material costs have been successful in obtaining more competitive
pricing from new and existing suppliers, and we are aggressively expanding this
effort.

    "Looking forward," Mr. Shumaker continued, "We expect progress to continue
in most of our markets for the remainder of the fiscal year. The gradual
improvement of the laboratory furniture market is projected to continue, but we
do not yet see a strong improvement in sales for our technical furniture
business. Our subsidiaries in India and Singapore continue to grow and
contribute nicely, though modestly, to our sales and profits. We are
particularly pleased to see improvement in the Singapore marketplace, which has
been soft the past year."

    The Company also announced today that its Board of Directors approved a cash
dividend of seven cents per outstanding share to stockholders of record at the
close of business on September 8, 2005, payable on September 23, 2005.

    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. The Company also has subsidiaries in Singapore and
Bangalore, India that serve the Asian markets. 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.

     Contact:  D. Michael Parker
               704/871-3290

<PAGE>

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

                                                     Three Months Ended
                                                ---------------------------
                                                   July 31        July 31
                                                    2005           2004
                                                ------------   ------------
Net sales                                       $     20,308   $     20,288
Cost of products sold                                 16,922         16,912

Gross profit                                           3,386          3,376
Operating expenses                                     2,920          3,046

Operating earnings                                       466            330
Other income                                             879             46
Interest expense                                         (87)           (86)

Earnings before income taxes                           1,258            290
Income tax expense                                       457            100

Earnings before minority interests                       801            190
Minority interests                                        38             (3)
Net earnings                                    $        763*  $        193

Net earnings per share
      Basic                                     $       0.31   $       0.08
      Diluted                                   $       0.31   $       0.08

Weighted average number of common
 shares outstanding (in thousands)
      Basic                                            2,492          2,490
      Diluted                                          2,492          2,500

     *    Includes a non-recurring after-tax gain on the sale of property in the
amount of $540,000, or $.22 per diluted share.

<PAGE>

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

                                                  July 31        April 30
                                                    2005           2005
                                                ------------   ------------
                                                 [unaudited]
Assets

Cash and cash equivalents                       $        646   $        225
Restricted cash                                          373            379
Receivables, less allowances                          21,231         21,683
Inventories                                            4,938          3,542
Prepaid expenses and other current assets              1,237            951
   Total current assets                               28,425         26,780
Net property, plant and equipment                     11,140         10,730
Other assets                                           7,328          8,702
Total Assets                                    $     46,893   $     46,212

Liabilities and Stockholders' Equity
Short-term borrowings                           $      5,038   $      3,778
Current portion of long-term debt                        652            931
Current obligations under capital leases                 114            111
Accounts payable                                       7,443          8,558
Other current liabilities                              3,219          3,021
   Total current liabilities                          16,466         16,399
Other non-current liabilities                          3,852          3,824
Total stockholders' equity                            26,575         25,989
Total Liabilities and Stockholders' Equity      $     46,893   $     46,212

CONTACT:  D. Michael Parker of Kewaunee Scientific Corporation,
+1-704-871-3290/ http://www.kewaunee.com /
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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