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): March 7, 2003
ADDvantage Technologies Group, Inc.
(Exact name of Registrant as specified in its charter)
Oklahoma 1-10799 73-1351610
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(State or other (Commission (I.R.S.
jurisdiction of File Employer
incorporation) Number) Identification
No.)
1605 E. Iola
Broken Arrow, Oklahoma
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(Address of principal executive offices)
74012
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(Zip code)
(918) 251-9121
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(Registrant's telephone number, including area code)
Item 7. Financial Statements And Exhibits
(c) Exhibits
99.1 Press Release Announcing Voting Results and Management Comments
at Annual Meeting.
Item 9. Regulation FD Disclosure
On March 7, 2003, ADDvantage Technologies Group, Inc. issued
a press release announcing the results of the voting at its
annual meeting of shareholders and summarizing comments made
by its President and Chief Executive Officer and by its
Chairman. A copy of the press release is filed as an exhibit
to this report and is incorporated by reference herein.
SIGNATURES
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 thereunto duly
authorized.
ADDvantage Technologies Group, Inc.
Dated: March 7, 2003 By: /s/ Kenneth A. Chymiak
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Kenneth A. Chymiak, President
FD DISCLOSURE SCHEDULE
ADDvantage Technologies Group, Inc.
Projects Solid Growth in Revenues and Profits for 2003
Broken Arrow, Oklahoma, March 6, 2003-- ADDvantage
Technologies, Inc. (OTCBB:ADDM) held its annual shareholders
meeting on March 4th in Broken Arrow, Oklahoma at its corporate
offices.
Kenneth Chymiak, President and CEO of ADDvantage, told
shareholders that "fiscal year 2003 looks to be promising as we
strengthen our distributor relationship with Scientific-Atlanta
and Motorola and sell equipment to the larger multiple system
operators. Such cable operations include Cox Communications and
Comcast." Continuing his comments to the Company's shareholders,
Mr. Chymiak said, "With sales continuing to improve and the
positive impact from the synergies created from our network of
companies, we expect to increase sales over 10%, to the $28-30
million range. For the first two months of the second quarter
2003, we have seen revenues rise to $5.3 million, or 33.5% over
the same period last year. This growth is primarily due to the
positive results of marketing to the large cable multiple system
operators and the new, expanded distributor relationships our
subsidiaries have created with Scientific-Atlanta, Motorola and
various other manufacturers. We expect this trend to continue
for the remainder of the year, with a targeted 10-15% annual
sales growth and a 45% operating margin."
David Chymiak, Chairman of ADDvantage added, " As we
continue to enhance our relationships with our suppliers,
optimize our status as a distributor for Scientific-Atlanta and
continue to increase repair services for out-of-warranty
products, we should be able to continue the growth in sales and
service revenues for the remainder of the year."
At the meeting, shareholders approved the election of the
Company's slate of incumbent directors and ratified the selection
of Tullius, Taylor, Sartain & Sartain as the Company's
independent auditors for fiscal 2003.
ADDVANTAGE TECHNOLOGIES GROUP, INC. and its subsidiaries, TULSAT,
LEE CATV Corporation, NCS Industries, Comtech Services, TULSAT -
Texas, and TULSAT-Atlanta comprise an organization involved in
the re-manufacture, repair and sale of previously owned cable
television ("CATV") equipment and the distribution of new and
surplus equipment to CATV operators for manufacturers such as
Scientific-Atlanta and Motorola. For more information, please
visit the corporate web site at www.addvantagetech.com or contact
the company directly at 918-251-9121.
The information in this announcement may include forward-looking
statements. All statements, other statements of historical
facts, which address activities, events or developments that the
Company expects or anticipates will or may occur in the future
are forward-looking statements.
These statements are subject to risks and uncertainties, which
could cause actual results and developments to differ materially
from these statements. A complete discussion of these risks and
uncertainties is contained in the Company's reports and documents
filed from time to time with the Securities and Exchange
Commission.
For further information:
Company Contact:
Ken Chymiak (9l8) 25l-2887
David Chymiak (9l8) 25l-2887
Adam Havig (9l8) 25l-9l2l