Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

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FORM 8-K

 

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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 21, 2024

 

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National Presto Industries, Inc.

(Exact name of registrant as specified in this chapter)

 

Wisconsin		1-2451		39-0494170
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

3925 North Hastings Way Eau Claire, Wisconsin		54703-3703
(Address of principal executive office)		(Zip Code)

 

Registrant’s telephone number, including area code: 715-839-2121

N/A

(Former name or former address, if changed since last report)

 

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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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $1.00 par value	NPK	New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

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Item 8.01 Other Events

 

On August 23, 2024, the Registrant announced that the U.S. Army awarded AMTEC Corporation, its wholly-owned subsidiary, an option award totaling $52.0 million under year three (Government Fiscal Year (FY) 2024) of AMTEC’s current five-year 40mm systems contract. 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 August 23, 2024
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: August 26, 2024	By:	/s/ Maryjo Cohen
		(Signature) Maryjo Cohen, President and Chief Executive Officer

 

 

Exhibit 99.1

 

 

NEWS RELEASE	CONTACT: David Peuse
FOR IMMEDIATE RELEASE	[phone]

 

 

 

NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES DEFENSE SEGMENT AWARD

 

Eau Claire, Wisconsin (August 23, 2024) – National Presto Industries, Inc. (NYSE: NPK) announced today that on August 21, 2024, the U.S. Army awarded AMTEC Corporation, its wholly-owned subsidiary, an option award totaling $52.0 million under year three (Government Fiscal Year (FY) 2024) of AMTEC’s current five-year 40mm systems contract. Deliveries under the option award are scheduled to commence in mid-2026. Combined with prior Government FY22, FY23 and FY24 awards, the total value of the current five-year 40mm systems contract is $401.7 million.

 

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, cartridge cases, and metal parts. The Safety segment offers carbon monoxide detectors, and 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.

 

Document And Entity Information	Aug. 21, 2024
Document Information [Line Items]
Entity, Registrant Name	National Presto Industries, Inc.
Document, Type	8-K
Document, Period End Date	Aug. 21, 2024
Entity, Incorporation, State or Country Code	WI
Entity, File Number	1-2451
Entity, Tax Identification Number	39-0494170
Entity, Address, Address Line One	3925 North Hastings Way
Entity, Address, City or Town	Eau Claire
Entity, Address, State or Province	WI
Entity, Address, Postal Zip Code	54703-3703
City Area Code	715
Local Phone Number	839-2121
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	NPK
Security Exchange Name	NYSE
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0000080172

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