Shopsmith Inc. (SHPS.OB)

Shopsmith, Inc. engages in the production and marketing of power woodworking tools, designed primarily for the home workshop. The company’s product line includes Shopsmith MARK V, a power woodworking tool that performs the functions of five separate tools: a table saw, a wood lathe, a disc sander, a horizontal boring machine, and a vertical drill press. Its other products include MARK V accessories, such as a lathe duplicator, which allows a woodworker to duplicate original turnings; and a dust collector. The company also offers a line of accessories to its power tool line, which include casters, custom saw blades, and molding attachments. It distributes its products directly to consumers through demonstration programs, telephone sales solicitation, Internet, and mail order. The company was founded in 1946 and is headquartered in Dayton, Ohio.

For the six months ended 1 October 2005, Shopsmith Inc.'s net sales fell 13% to $5M. Net loss rose 10% to $518K. Revenues reflect decreased sales throught demonstration within Lowe's stores. Higher net loss reflects lower gross margin and inclusion of non recurring expenses from going private transaction. The Company is engaged in the marketing and selling of quality woodworking products in the U.S. through demonstrations.