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<SEC-DOCUMENT>0001275287-07-001081.txt : 20070301
<SEC-HEADER>0001275287-07-001081.hdr.sgml : 20070301
<ACCEPTANCE-DATETIME>20070301130048
ACCESSION NUMBER:		0001275287-07-001081
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070228
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070301
DATE AS OF CHANGE:		20070301

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:		07661754

	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>ks9113.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) February 28, 2007

                         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 February 28, 2007, Kewaunee Scientific Corporation issued a press release
announcing its financial results for the third quarter ended January 31, 2007. 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

   (d)      Exhibits:

   EXHIBIT NO.
   -----------
      99.1         Press Release of Kewaunee Scientific Corporation dated
                   February 28, 2007

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: February 28, 2007                          /s/ D. Michael Parker
                                                 -------------------------------
                                                 Senior Vice President, Finance
                                                 Chief Financial Officer
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ks9113ex991.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1

   KEWAUNEE SCIENTIFIC ANNOUNCES THIRD QUARTER RESULTS AND QUARTERLY DIVIDEND

    STATESVILLE, N.C., Feb. 28 /PRNewswire-FirstCall/ -- Kewaunee Scientific
Corporation (Nasdaq: KEQU) today reported results for its third quarter ended
January 31, 2007.

    Net earnings for the quarter were $321,000, or $0.13 per diluted share, as
compared to a net loss of $555,000, or $0.22 per diluted share, in the same
period last year. Earnings for the quarter benefited from significantly improved
manufacturing efficiencies, cost improvement initiatives, and lower operating
expenses.

    Sales for the quarter were $18,041,000, an increase of 2% over sales of
$17,724,000 in the same period last year. Modestly lower domestic sales were
offset by increased sales to international customers. Incoming orders were
strong during the quarter. The order backlog increased to $48.6 million at
January 31, 2007, up from $34.3 million at October 31, 2006 and $36.4 million at
April 30, 2006.

    "This quarter was an outstanding quarter for incoming orders," said William
A. Shumaker, President and Chief Executive Officer. "Our order backlog increased
by $14.3 million during the quarter and included several prestigious laboratory
furniture projects. This improved backlog will contribute nicely to our sales
and earnings going forward.

    "I continue to be pleased with the improved performance of our manufacturing
operations, as we are achieving much-improved manufacturing efficiencies and
lower manufacturing costs," Mr. Shumaker continued. "These improvements,
combined with lower operating expenses, the continued strengthening of our
international business, and the growth in our domestic order backlog, have the
Company on a solid track for continued success and profitability."

    The Company's financial condition remains strong. Cash on hand at the end of
the quarter was $1.9 million, up from $1.3 million at April 30, 2006. Working
capital was $11.3 million, up from $11.0 million at April 30, 2006. Total bank
debt and capital lease obligations at January 31, 2007 were $7.0 million, down
from $9.1 million at April 30, 2006, resulting in a debt to equity ratio of
..27-to-1 at the end of the quarter.

    Net earnings for the nine months ended January 31, 2007 were $1,023,000, or
$0.41 per diluted share. Net earnings for the comparable period of the prior
year, which benefited from an after-tax gain of $540,000 related to the sale of
the Company's property in Texas, were $447,000, or $0.18 per diluted share.
Excluding this gain on the sale of property, the net loss in the prior year
period was $93,000, or $0.04 per diluted share. Sales for the nine months ended
January 31, 2007 were $58,720,000, a decrease of 3% from sales of $60,351,000 in
the same period last year. Lower domestic sales were partially offset by
increased sales to international customers.

    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 March 9, 2007, payable on March 23, 2007.

    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>

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

<TABLE>
<CAPTION>
                                             3 Months Ended                  9 Months Ended
                                               January 31                      January 31
                                      ----------------------------    ----------------------------
                                          2007            2006            2007            2006
                                      ------------    ------------    ------------    ------------
<S>                                   <C>             <C>             <C>             <C>
Net sales                             $     18,041    $     17,724    $     58,720    $     60,351
Cost of products sold                       14,417          15,278          47,888          51,034
Gross profit                                 3,624           2,446          10,832           9,317
Other operating income                          --              --              --             884*
Operating expenses                           2,829           3,079           8,365           8,952
Operating earnings (loss)                      795            (633)          2,467           1,249
Other income (expense)                         (11)              3              33              (1)
Interest expense                              (142)           (112)           (524)           (317)
Earnings (loss) before income taxes            642            (742)          1,976             931
Income tax expense (benefit)                   207            (268)            613             326
Earnings (loss) before minority
 interests                                     435            (474)          1,363             605
Minority interests                             114              81             340             158
Net earnings (loss)                   $        321    $       (555)   $      1,023    $        447*

Net earnings (loss) per share
    Basic                             $       0.13    $      (0.22)   $       0.41    $       0.18
    Diluted                           $       0.13    $      (0.22)   $       0.41    $       0.18
Weighted average number of common
 shares outstanding (in thousands)
    Basic                                    2,492           2,492           2,492           2,492
    Diluted                                  2,493           2,494           2,493           2,493
</TABLE>

*   Includes a non-recurring pretax gain of $884,000 and an after-tax gain of
    $540,000, or $.22 per diluted share, on the sale of property.

<PAGE>

                      Condensed Consolidated Balance Sheets
                                (in thousands)

                                             January 31    April 30
                                                2007         2006
                                            -----------   ----------
Assets                                      (unaudited)
Cash and cash equivalents                   $     1,466   $      929
Restricted cash                                     413          399
Receivables, less allowances                     18,474       23,199
Inventories                                       5,997        5,860
Prepaid expenses and other current assets         1,029        1,011
  Total current assets                           27,379       31,398
Net property, plant and equipment                11,451       11,163
Other assets                                      8,278        7,911
Total Assets                                $    47,108   $   50,472

Liabilities and Stockholders' Equity
Short-term borrowings                       $     6,047   $    8,216
Current obligations under capital leases            352          260
Accounts payable                                  6,032        9,074
Other current liabilities                         3,605        2,823
  Total current liabilities                      16,036       20,373
Other non-current liabilities                     4,992        4,553
Total stockholders' equity                       26,080       25,546
Total Liabilities and Stockholders' Equity  $    47,108   $   50,472

SOURCE  Kewaunee Scientific Corporation
    -0-                             02/28/2007
    /CONTACT:  D. Michael Parker of Kewaunee Scientific Corporation,
+1-704-871-3290/
    /Web site:  http://www.kewaunee.com/
    (KEQU)
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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