~~Historical~~UNITED Pro Forma Isco, Inc. Adjustments Pro Forma July 28 for July 28 2000 Geomation (1) 2000 -------- --------- -------- Net sales $ 55,183 $ 1,435 $ 53,748 Cost of sales 25,776 559 25,217 -------- -------- -------- 29,407 876 28,531 -------- -------- -------- Expenses: Selling, general, and administrative 20,960 1,158 19,802 Research and engineering 5,532 551 4,981 Loss on impairments and sale of Geomation 2,056 2,056 -- Write-off of ERP operating system 2,448 -- 2,448 -------- -------- -------- Total operating expenses 30,996 3,765 27,231 -------- -------- -------- Operating income (loss) (1,589) (2,889) 1,300 -------- -------- -------- Non-operating income: Investment income 490 28 462 Interest expense (400) -- (400) Other 424 -- 424 -------- -------- -------- 514 28 486 -------- -------- -------- Earnings (loss) before income taxes (1,075) (2,861) 1,786 Income tax expense (benefit) (123) (552) 429 -------- -------- -------- Net earnings (loss) $ (952) $ (2,309) $ 1,357 ======== ======== ======== Basic earnings (loss) per share $ (.17) $ (.41) $ .24 ======== ======== ======== Weighted average number of shares outstanding 5,644 5,644 5,644 ======== ======== ========STATES

~~Historical~~SECURITIES ~~Pro~~AND ~~Forma~~EXCHANGE Isco, Inc. Adjustments Pro Forma July 28 for July 28 2000 Geomation (2) 2000 -------- --------- -------- Assets Current assets: Cash and Cash equivalents $ 1,589 $ 50 $ 1,639 Short-term investments 1,981 -- 1,981 Accounts receivable 9,934 -- 9,934 Inventory 9,059 -- 9,059 Refundable income taxes 498 -- 498 Deferred income taxes 1,569 -- 1,569 Other current assets 538 50 488 ------- ------- ------- Total current assets 25,168 -- 25,168 ------- ------- ------- Property, plant, and equipment, net 16,389 -- 16,389 Long-term investments 3,728 -- 3,728 Deferred income taxes 317 -- 317 Other assets 4,840 -- 4,840 ------- ------- ------- Total assets $50,442 $ -- $50,442 ======= ======= ======= Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 782 $ -- $ 782 Accrued expenses 3,167 -- 3,167 Short-term borrowing 1,815 -- 1,815 Current portion of long-term debt 993 -- 993 ------- ------- ------- Total current liabilities 6,757 -- 6,757 ------- ------- ------- Long-term debt 3,164 -- 3,164 Commitments and contingencies Shareholder's equity Preferred stock, $.10 par value, authorized 5,000,000 Shares; issued none Common stock, $.10 par value, authorized 15,000,000 Shares; issued and outstanding 5,643,992 shares 564 -- 564 Additional paid-in capital 37,697 -- 7,697 Retained earnings 2,200 -- 2,200 Accumulated other comprehensive income 60 -- 60 ------- ------- ------- Total shareholders' equity 40,521 -- 40,521 ------- ------- ------- Total liabilities and shareholders' equity $50,442 $ -- $50,442 ======= ======= =======COMMISSION

Washington, DC 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): June 5, 2003

Isco, Inc.
(Exact name of registrant as specified in its charter)

Nebraska	0-4429	47-0461807
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

4700 Superior Street, Lincoln, NE 68504
(Address of Principal Executive Offices and Zip Code)

(402) 464-0231
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Item 7. Financial Statements and Exhibits

(c) Exhibits – The following exhibit is provided as part of the information furnished under Item 9 and Item 12 of third Current Report on Form 8-K:

Exhibit No.		Description

99.1		Press release – “Isco Reports Third Quarter Fiscal 2003 Results

Item 9. Regulation FD Disclosure

On June 5, 2003, Isco, Inc. issued a press release announcing earnings for the third fiscal quarter and nine months ended April 25, 2003. A copy of the news release is furnished herewith as Exhibit 99.1 and incorporated by reference herein. This Current Report on Form 8-K and the press release attached hereto are being furnished by Isco, Inc. pursuant to Item 9 and Item 12 of Form 8-K.

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 hereunto duly authorized.

		Isco, Inc.

Date: June 5, 2003		BY: /s/ Vicki L. Benne
		Vicki L. Benne
		Chief Financial Officer and Treasurer

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