National Presto Industries Inc 8-K, filed Apr 1, 2021
National Presto Industries Inc (NPK)
About this 8-K
National Presto Industries Inc filed this 8-K on April 1, 2021, reporting on events of March 30, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Item 8.01 Other Events
On April 1, 2021, the Registrant announced that on March 30, 2021 AMTEC Corporation, its wholly-owned subsidiary, received an option award under year five (Government Fiscal Year (FY) 2021) of AMTEC’s current five-year 40mm systems contract with the Department of the Army. A press release describing the award is filed as Exhibit 99.1 to this Form 8-K. Such Exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description |
| 99.1 | Press Release of National Presto Industries, Inc. dated April 1, 2021, |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Forward looking statements in this Form 8-K are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. There are certain important factors that could cause results to differ materially from those anticipated by some of the statements made herein. Investors are cautioned that all forward looking statements involve risks and uncertainty. In addition to the factors discussed above, among the other factors that could cause actual results to differ materially are the following: government defense spending and defense requirements; termination for the convenience of the government; interest rates; continuity of relationships with and purchases by the United States Government and other major customers; unexpected problems or events experienced by subcontractors, team members, or their respective suppliers or subcontractors; product mix; competitive pressure on pricing; increases in material, freight/shipping, labor or other production costs that cannot be recouped through pricing; and such other factors as may be described from time to time in the Registrant’s SEC filings.
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.
| National Presto Industries, Inc. | |||||
| (Registrant) | |||||
| Date: April 1, 2021 | By: | /s/ Maryjo Cohen | |||
| (Signature) Maryjo Cohen, President | |||||
| and Chief Executive Officer | |||||
EHHIBIT 99.1
| NEWS RELEASE | CONTACT: David Peuse |
| FOR IMMEDIATE RELEASE | (715) 839-2146 |
NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES DEFENSE CONTRACT OPTION AWARD
Eau Claire, Wisconsin (April 1, 2021) – National Presto Industries, Inc. (NYSE: NPK) announced today that on March 30, 2021, AMTEC Corporation, its wholly-owned subsidiary, received a $102.1 million option award under year five (Government Fiscal Year (FY) 2021) of AMTEC’s current five-year 40mm systems contract with the Department of the Army. The option award is for high velocity training cartridges, with deliveries scheduled to begin in mid-2021 and continue over multiple years.
National Presto Industries, Inc. operates in three business segments. The Housewares/Small Appliance segment designs and sells small household appliances and pressure cookers under the PRESTO® brand name. The segment is recognized as an innovator of new products. The Defense segment manufactures a variety of products, including medium caliber training and tactical ammunition, energetic ordnance items, fuzes, and cartridge cases. The Safety segment currently consists of two startup companies. The first is Rusoh, Inc., which designs and markets the Rusoh® Eliminator® fire extinguisher, the first owner-maintained fire extinguisher. The second is OneEvent Technologies, Inc. It offers systems that provide early warning of conditions that, if not corrected, would cause significant losses.
This release contains “forward looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. In addition to the factors discussed above, other important risk factors are delineated in the Company’s various SEC filings.