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<SEC-DOCUMENT>0001144204-08-012488.txt : 20080229
<SEC-HEADER>0001144204-08-012488.hdr.sgml : 20080229
<ACCEPTANCE-DATETIME>20080229105631
ACCESSION NUMBER:		0001144204-08-012488
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080227
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080229
DATE AS OF CHANGE:		20080229

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:		08653356

	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>v105058_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)  February 27, 2008
                                                  -----------------


                         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                             28677
         Statesville, North Carolina                        (Zip Code)
  (Address of principal executive offices)

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 27, 2008, Kewaunee Scientific Corporation issued a press release
announcing its financial results for the third quarter ended January 31, 2008. 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 February 27,
            2008

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:  February 27, 2008              /s/ D. Michael Parker
                                      ------------------------------
                                      Senior Vice President, Finance
                                      Chief Financial Officer


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v105058_ex99-1.txt
<TEXT>

                Kewaunee Scientific Reports Third Quarter Results
                Net Earnings Increase 150%, Revenues Increase 21%
                           Quarterly Dividend Declared

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

STATESVILLE,  NC, February 27,  2008--Kewaunee  Scientific  Corporation (NASDAQ:
KEQU) today reported results for its third quarter ended January 31, 2008.

Net earnings for the quarter increased to $802,000,  or $0.31 per diluted share,
an  increase of 150% over  $321,000,  or $0.13 per  diluted  share,  in the same
period last year. Earnings for the quarter again benefited from continued strong
performance from the Company's domestic operations, improved profit margins, and
continued growth of its international operations.

Sales for the quarter were $21.9 million, an increase of 21% over sales of $18.0
million in the same period last year. Sales from domestic  operations  increased
to  $17.7  million,   up  20%  from  the  same  period  last  year.  Sales  from
international  operations increased to $4.2 million, up 27% from the same period
last year.

Net earnings for the nine months ended  January 31, 2008 were $2.7  million,  or
$1.05 per diluted  share,  an increase  of 163% from net  earnings  for the same
period last year of $1.0 million,  or $0.41 per diluted share.  The gross profit
margin  for the  nine-month  period  increased  to 21.7%  from 18.4% in the same
period last year.  Sales for the nine months  ended  January 31, 2008 were $67.4
million,  an increase of 15% from sales of $58.7 million in the same period last
year.

Incoming  orders  continued to be strong  during the quarter.  The order backlog
increased for the fifth consecutive quarter to a record $58.8 million at January
31, 2008,  up from $54.9  million at the end of the  previous  quarter and $48.6
million at January 31, 2007.

The  Company's  balance  sheet  further  strengthened  during the quarter.  Bank
borrowings and capital lease obligations declined to $4.2 million at January 31,
2008, down from $7.0 million at January 31, 2007. The  debt-to-equity  ratio was
..16-to-1 at the end of the  quarter,  down from  .27-to-1 at the end of the same
period last year.  Cash on hand was $2.9 million at the end of the  quarter,  as
compared  to $1.9  million  at the end of the same  period  last  year.  Working
capital was $14.7  million at January 31, 2008, up from $11.3 million at the end
of the same period last year.

"Our progress  continued nicely in the third quarter," said William A. Shumaker,
President  and  Chief  Executive   Officer.   "Our  domestic  and  international
operations both contributed to our strong top-line and bottom-line  growth.  The
continued growth in sales, order backlog,  and profit margins provides us strong
momentum  as we go  forward,  positioning  us  well  for  continued  growth  and
profitability."

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 10, 2008, payable on March 24, 2008.

<PAGE>

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.


                   [see financial information on back of page]


<PAGE>

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


<TABLE>
<CAPTION>
                                        3 Months Ended           9 Months Ended
                                           January 31              January 31
                                        2008        2007        2008        2007
                                      --------    --------    --------    --------


<S>                                   <C>         <C>         <C>         <C>
Net sales                             $ 21,883    $ 18,041    $ 67,394    $ 58,720

Cost of products sold                   17,064      14,417      52,759      47,888
                                      --------    --------    --------    --------
Gross profit                             4,819       3,624      14,635      10,832

Operating expenses                       3,293       2,829       9,811       8,365
                                      --------    --------    --------    --------

Operating earnings                       1,526         795       4,824       2,467

Other income (expense)                      (6)        (11)         (2)         33

Interest expense                           (86)       (142)       (302)       (524)
                                      --------    --------    --------    --------

Earnings before income taxes             1,434         642       4,520       1,976

Income tax expense                         421         207       1,391         613
                                      --------    --------    --------    --------

Earnings before minority interests       1,013         435       3,129       1,363

Minority interests                         211         114         441         340
                                      --------    --------    --------    --------

Net earnings                          $    802    $    321    $  2,688    $  1,023
                                      ========    ========    ========    ========

Net earnings per share
    Basic                             $   0.32    $   0.13    $   1.07    $   0.41
    Diluted                           $   0.31    $   0.13    $   1.05    $   0.41
Weighted average number of common
  shares outstanding (in thousands)
    Basic                                2,543       2,492       2,523       2,492
    Diluted                              2,576       2,493       2,551       2,493
</TABLE>

<PAGE>


                      Condensed Consolidated Balance Sheets
                                 (in thousands)

                                                     January 31    April 30
                                                        2008         2007
                                                     ----------   ----------
Assets                                               (unaudited)
- ------
Cash and cash equivalents                            $    2,427   $    2,231
Restricted cash                                             455          372
Receivables, less allowances                             19,791       19,061
Inventories                                               6,130        5,869
Prepaid expenses and other current assets                 1,222          981
                                                     ----------   ----------
   Total current assets                                  30,025       28,514
Net property, plant and equipment                        11,568       11,255
Other assets                                              5,965        5,471
                                                     ----------   ----------
Total Assets                                         $   47,558   $   45,240
                                                     ==========   ==========

Liabilities and Stockholders' Equity
- ------------------------------------
Short-term borrowings                                $    3,673   $    3,489
Current obligations under capital leases                    351          360
Accounts payable                                          7,669        8,437
Other current liabilities                                 3,661        3,897
                                                     ----------   ----------
   Total current liabilities                             15,354       16,183
Obligations under capital leases                            219          476
Other non-current liabilities                             5,130        4,533
Total stockholders' equity                               26,855       24,048
                                                     ----------   ----------
Total Liabilities and Stockholders' Equity           $   47,558   $   45,240
                                                     ==========   ==========
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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