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Micron Solutions, Inc. (MICR)

by:Mingquan Machinery     2019-12-04
Washington, D. C. Securities and Exchange CommissionC. 20549 ufeff FORM 8-
K current report submitted under section 13th or 15 (d)
Date of report of the Securities Trading Act of 1934 (
Date of reporting the earliest event)
: August 11, 2017 Meiguang Solution Co. , Ltd. (
The exact name of the registrant specified in the articles of association)ufeff Delaware (
State or other jurisdiction registered or organized)1-9731 (
Commission file number)72-0925679 (I. R. S.
Employer identification number)
Ma 01420 Sawyer pasway Fort Fitchburg No. 25 (
Address and postal code of main administrative office)ufeff (978)345-5000 (
Registrant phone number, including area code)
ufeff _______________________________________________________________(
Previous name, previous address and previous fiscal year (if different from last report)
If form 8-, please check the appropriate box below
K. filing is intended to simultaneously satisfy the registrant\'s filing obligations under any of the following terms (
Please see general instructions. 2. below): ufeff []
Written communications under article 425th of the Securities Law (17 CFR 230. 425)[]
Collection of materials according to Article 14a
12 according to the Transaction Act (17 CFR 240. 14a-12)[]Pre-
According to Rule 14-2(b)
Under the transaction act (17 CFR 240. 14d-2(b))[]Pre-
According to Rule 13e-4(c)
Under the transaction act (17 CFR 240. 13e-4(c))
Indicate whether the registrant is an emerging growth company as specified in Rule 405 of the Securities Act of 1933 (§230.
This Chapter 405)or Rule 12b-
Article 2 of the securities trading Law of 1934 (§240. 12b-
2 of this chapter).
Emerging growth companies☐If an emerging growth company, please indicate by check mark whether the registrant chooses not to use the extended transition period to comply with any new or revised financial accounting standards provided under section 13th (a)
The Trading Act. ☐ ufeff ufeff Item 2.
02 results of operations and financial position August 11, Micron Solutions, Inc. 201(the \"Company\")
Announced financial results for the second quarter ended June 30, 2017.
The full text of the press release relating to the announcement is contained in Annex 99.
Current Report on Table 8 01-K. ufeff ufeff ufeff Item 9.
01 financial statements and exhibits. ufeff (d)Exhibits.
Exhibition number.
Description 201799.
Press Release of August 11, 2017.
According to the requirements of the Securities Trading Act of 1934, the registrant has officially authorized the signatory to sign the report on its behalf, at 01:07 on the 11 th of August 20.
Meiguang Solutions Co. , Ltd.
By:/s/DerekT. Welch ufeff DerekT.
Vail Kiki in base Fenner Western Asia officer
Principal alandaccounting officer)
Click to enlarge the press release 25 Sawyer Passway ● Fitchburg, Exhibit 99, 01420, Massachusetts.
01 solution for immediate release of Micron Limited
On August 11, 2017, mafichburg reported the second quarter results of 201-Meiguang solution company(
New York Stock Exchange(the “Company”)
This is all through it
Subsidiaries of Meiguang Products Co. , Ltd.
A diversified contract manufacturing organization with high production
Engineering innovative medical device components requiring precision processing and injection molding announced second-quarter results as of June 30, 2017.
N et sales increased by 5, the company reported.
Compared with the same period of the previous year, 2017 was 1% per cent.
Net sales growth in the second quarter came from net sales of sensors and tools, excluding deferred revenue.
This increase was partially offset by a decline in net sales of thermoplastic injection molding products and net sales of plastic surgery implant components and devices.
The second quarter of 201, second quarter of 2017, third quarter of 2016, net sales, gross profit margin, net income (loss)
Diluted income $ (loss)
During this period, the company incurred extraordinary expenses related to starting a business.
Number of new customers.
To meet the customer\'s delivery requirements, these costs include increased scrap, tools, labor, rework, accelerated costs for suppliers, shift insurance premiums and overtime.
The company has also made a strategic sales decision to take large orders at aggressive initial prices in order to track
Orders with lower material cost.
The company successfully booked the following items
On orders with lower material costs, additional costs are reduced from the start
The new products, \"said Emma Jr, El Salvador.
President and CEO of the company.
Compared with the same period of the previous year, G ross\'s profit fell in 2017.
The decrease in gross profit mainly comes from plastic surgery implant components and instruments and thermoplastic injection molding, partially offset by the increase in gross profit of the sensor. EBITDA (1)(
Continuing Operating income adjusted to income tax, other income and expenses, interest, depreciation and amortization, and share
Based on compensation costs)
In the second quarter of 201 ($ 1 0 )
In contrast, the same period in 501,000 was $201. (1)
For other important disclosures of the company\'s use of EBITDA, as well as reconciliation of net income, see attached table (loss)
From continuous operation to EBITDA. -MORE-
Meiguang Solutions Co. , Ltd.
August 11 second quarter results report 20172017 2017 pages 2017 reviews In the first six months of 2016 thousands $ In thousands YTD $ Change % Change Net sales $ gross profit $ diluted loss per share $6 net monthly sales rose 2017 from the same period last year, this is due to net sales of sensors, thermoplastic injection molding and tools, net deferred revenue.
This increase was partially offset by a decline in net sales of plastic surgery implant components and devices.
The lower gross profit mainly comes from orthopedic implant components and devices.
In addition, the gross profit of the sensor and thermoplastic injection molding has also decreased. EBITDA (1)(
Continuing Operating income adjusted to income tax, other income and expenses, interest, depreciation and amortization, and share
Based on compensation costs)
In the first half of 2017, it was $42,000, compared to $576,000 in the same period in 2016. (1)
For other important disclosures of the company\'s use of EBITDA, as well as reconciliation of net income, see attached table (loss)
From continuous operation to EBITDA.
On June 2017, the company\'s revolver was extended for 90 days until September 30, 2017.
The company is discussing with the bank to extend the revolver beyond September 30, 2017.
Recent achievements: successful negotiations, then exclusive, multi-
Signing annual manufacturing agreement with safety equipment International Co. , Ltd.
A company that provides less servicethan-Fatal products;
One of the fastest
In the growing sector in the military, law enforcement and corrections markets, the company has successfully designed and manufactured a new low cost non-
The design of lethal projectiles for military and law enforcement is currently working together to develop a variety of new and innovative products, vertically integrating and verifying heat treatment capabilities, save time and reduce costs for orthopedic device customers the company has won and shipped the first large production order for machin ed orthopedic hip handle for hip replacement surgery, which will extend to the second half of 2017, and successfully helped 2018 top-
5 orthopedic OEMs by meeting the very demanding qualifications and deadlines for the launch of new robotic assisted surgical instruments in the customer market, the company hired Bonifacio Consulting Services Co. , Ltd. , a manufacturing consulting company, is an expert in plastic injection molding of medical components and equipment, consulting on business development and operational efficiency, successfully launched a project aimed at increasing profit and labor efficiency by more than $1
In the next 12 months, EBITDA has 5 million-MORE-
Meiguang Solutions Co. , Ltd.
Report 2017 Second quarter August 11, 2017 performance 4 page 3 of Outloo k: \"Starting from the second half of 2017, cost-
Cuts and productivity increases are expected to increase gross margin and reduce operating costs.
These measures include the more efficient use of labor by modifying production plans, as well as the improvement of new processes.
In addition, the company has increased the production of raw materials and vertically integrated previously outsourced services such as heat treatment by increasing more processing capacity.
He concluded: \"indirect expenses have also been partially reduced, and the reduction in total labor expenditure, including senior management, will help speed up the company\'s return to profitability . \"Emma.
Meiguang Solutions Co. , Ltd.
Meiguang Solutions Co. , Ltd.
Through all of it
Subsidiaries of Meiguang Products Co. , Ltd.
Is a diversified contract manufacturing organization with high production
Design innovative medical device components requiring precision machining and injection molding.
The company also produces components, devices and equipment for military, law enforcement, industrial and automotive applications.
In addition, the company is a market leader in the production and sale of Silver/silver chloride coatings and conductive resin sensors for the manufacture of consumable components that integrate disposable Electrophysiological sensors.
The company\'s growth strategy is to build one of the bestin-
Focus on plastic injection molding and height-
Engineering medical equipment and components that require precision processing.
The company regularly publishes news and other important information on its website: The Safe Harbor Statement
The forward-looking statements made in this article are based on the current expectations of Micron Solutions, Inc. (
\"Our\" or \"Company \")
This involves many risks and uncertainties and should not be seen as a guarantee of future performance.
Factors that may lead to significant differences in actual results include our ability to obtain and retain orders from customers who account for a large proportion of net sales;
We are able to maintain our pricing model to offset higher costs as prices rise and/or sales costs decrease;
Variability of customer delivery requirements;
The level and ability to create high-margin sales of products and services;
Our ability to update credit facilities and manage debt levels, as well as the terms in the debt agreement, may make companies sensitive to the impact of the recession, and limit our ability to respond to economic change, our economy or our industry;
Failure to comply with the financial and other covenants in our credit services;
Dependent on export earnings and the impact on financial results due to economic uncertainty or downturn in foreign markets;
Fluctuations in commodity and energy prices, and our ability to offset higher costs as prices rise;
Continuously supply supplies or materials for manufacture at competitive prices;
Changes in sales portfolio;
Continuously supply supplies or materials for manufacture at competitive prices;
Amount and time of investment in capital equipment, sales and marketing, engineering and information technology resources.
More information on factors that may affect the Company\'s financial results is included in the Company\'s Annual Report on Form 10
K and other documents submitted to the Securities and Exchange Commission.
For more information, please contact: Derek T.
Welch chief financial officer 978. 345. 5000 ufeff -MORE-
Meiguang Solutions Co. , Ltd.
August 11, 2017 second quarter results report 2017 Pages 4 micron solutions
EBITDA Reconciliation (1)(Thousands of dollars)
ufeff Three a month end of the first half of ufeff June 30 June 30 ufeff 2017 2016 network (loss)$ $ $ $ Other (income)expense —
Depreciation and amortization of interest expenses-
Base compensation EBITDA $ EBITDA margin %-0. 2% ufeff (1)Non-
S. GAAP financial measures in addition to reported net incomeS.
Principles of recognized accounting (“GAAP”)
Measures, this press release contains information about EBITDA (
Continuing Operating income adjusted to income tax, other income and expenses, interest, depreciation and amortization, and share
Based on compensation costs)
This is a nonGAAP measure. Share-
Basic compensation includes fees paid by directors through stock grants and cash.
The Company believes that EBITDA allows investors to view their performance in a way similar to the approach used by management and provides additional insight into the results of their operations.
EBITDA is not calculated by the application of GAAP.
Therefore, it should not be considered as a substitute for the GAAP measure of net income, and therefore, it should not be used separately, but with the GAAP measure.
Use any non
The GAAP metric may produce results that are different from the GAAP metric and may not be able to work with non-defined
GAAP measures used by other companies. ufeff ufeff ufeff -END-
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