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<SEC-DOCUMENT>0001144204-07-046039.txt : 20070823
<SEC-HEADER>0001144204-07-046039.hdr.sgml : 20070823
<ACCEPTANCE-DATETIME>20070823135735
ACCESSION NUMBER:		0001144204-07-046039
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070822
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070823
DATE AS OF CHANGE:		20070823

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:		071075195

	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>v085742_8k.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 22, 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 August 22, 2007, Kewaunee Scientific Corporation issued a press release
announcing its financial results for the first quarter ended July 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

(c)   Exhibits:

            Exhibit No.

            99.1           Press Release of Kewaunee Scientific Corporation
                           dated August 22, 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.

                                    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.

                                                           (Registrant)
                                                 Kewaunee Scientific Corporation


Date: August 22, 2007                            /s/ D. Michael Parker
                                                 -------------------------------
                                                 Senior Vice President, Finance
                                                 Senior Vice President, Finance
                                                 Chief Financial Officer
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v085742_ex99-1.txt
<TEXT>

                          Kewaunee Scientific Announces
                              First Quarter Results
                             and Quarterly Dividend


Exchange:   NASDAQ (KEQU)                             Contact: D. Michael Parker
                                                      704/871-3290

STATESVILLE, N.C. August 22, 2007 -- Kewaunee Scientific Corporation (Nasdaq:
KEQU - news) today announced results for its first quarter ended July 31, 2007
and the declaration of its quarterly dividend.

Net earnings for the quarter were $674,000, or $0.27 per diluted share, as
compared to net earnings of $133,000, or $0.05 per diluted share, for the first
quarter of the prior year. Earnings continued to benefit from improved profit
margins, increased manufacturing efficiencies, savings from alternate sources
for raw materials and components, and other cost improvement initiatives.

Sales for the quarter were $20,784,000, an increase of 7.7% from sales of
$19,294,000 in the prior year. Sales from domestic operations were $18,014,000,
an increase of 8.0% from the prior year period. The domestic marketplace for
laboratory products continued to be healthy during the quarter, particularly in
the educational research market and for the larger laboratory projects. The
marketplace for small and mid-size laboratory projects showed signs of
improvement during the quarter, although it remains very price competitive.
Sales from international operations were $2,770,000, an increase of 5.7% from
the prior year period.

Incoming orders remained strong during the quarter. The order backlog increased
to a record $54.7 million at July 31, 2007, up from $51.1 million at April 30,
2007, and $36.5 million at July 31, 2006.

"Our strategic efforts over the past several years to make Kewaunee a more
efficient company are working well," said William A. Shumaker, President and
Chief Executive Officer. "On-going investments in modern, computerized
equipment, the implementation of "Lean" manufacturing techniques, and the
continuous pursuit of cost improvements are significantly reducing our costs and
increasing profit margins. Our lower costs make us more competitive in the
marketplace and strengthen our market position.

"We continue to have high expectations for growth in sales and profitability of
our international operations. Although this business experienced somewhat modest
sales growth in the first quarter, we expect our international operations to
have a much better second quarter, as several significant international projects
are scheduled for delivery and installation."
<PAGE>

The Company's balance sheet remains strong. Bank borrowings and capital lease
obligations totaled $5.3 million at July 31, 2007, down from $9.4 million at
July 31, 2006. The debt-to-equity ratio was .21-to-1 at the end of the quarter,
down from .37-to-1 at the end of the prior year period. Cash on hand was $2.2
million at the end of the quarter, as compared to $2.5 million at the end of the
prior year period. Working capital was $13.0 million at July 31, 2007, up from
$11.0 million at the end of the prior year period.

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 4, 2007, payable on September 18, 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 domestic 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.


                   [see financial information on back of page]
<PAGE>

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


                                                       Three Months Ended
                                                   ----------------------------
                                                     July 31,        July 31,
                                                       2007            2006
                                                   ------------    ------------

Net sales                                          $     20,784    $     19,294
Cost of products sold                                    16,521          16,166
                                                   ------------    ------------

Gross profit                                              4,263           3,128
Operating expenses                                        3,148           2,637
                                                   ------------    ------------

Operating earnings                                        1,115             491
Other income                                                  3              18
Interest expense                                           (110)           (187)
                                                   ------------    ------------

Earnings before income taxes                              1,008             322
Income tax expense                                          312              78
                                                   ------------    ------------

Earnings before minority interests                          696             244
Minority interests in subsidiaries                           22             111
                                                   ------------    ------------
Net earnings                                       $        674    $        133
                                                   ============    ============

Net earnings per share
      Basic                                        $       0.27    $       0.05
      Diluted                                      $       0.27    $       0.05

Weighted average number of common
  shares outstanding (in thousands)
      Basic                                               2,502           2,492
      Diluted                                             2,521           2,493
<PAGE>

                      Condensed Consolidated Balance Sheets
                                 (in thousands)

                                                     July 31,        April 30,
                                                       2007            2007
                                                   ------------    ------------
                                                    [unaudited]
Assets

Cash and cash equivalents                          $      1,791    $      2,231
Restricted cash                                             396             372
Receivables, less allowances                             18,868          19,061
Inventories                                               5,694           5,869
Prepaid expenses and other current assets                 1,368             981
                                                   ------------    ------------
   Total current assets                                  28,117          28,514
Net property, plant and equipment                        11,196          11,255
Other assets                                              5,586           5,471
                                                   ------------    ------------
Total Assets                                       $     44,899    $     45,240
                                                   ============    ============

Liabilities and Stockholders' Equity

Short-term borrowings                              $      4,556    $      3,489
Current obligations under capital leases                    369             360
Accounts payable                                          7,107           8,437
Other current liabilities                                 3,134           3,897
                                                   ------------    ------------
   Total current liabilities                             15,166          16,183
Other non-current liabilities                             4,943           5,009
Total stockholders' equity                               24,790          24,048
                                                   ------------    ------------
Total Liabilities and Stockholders' Equity         $     44,899    $     45,240
                                                   ============    ============
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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