-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G5HcZ6UsC5T9r91+YNOryXuMlmJ7MVh0ihRpELCkedvzGc2YsN9jUuC4z+22wGPu cT5jotdH9pdePoeKsyqrgA== 0000950117-03-003513.txt : 20030811 0000950117-03-003513.hdr.sgml : 20030811 20030811172031 ACCESSION NUMBER: 0000950117-03-003513 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030808 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMPIRE RESOURCES INC /NEW/ CENTRAL INDEX KEY: 0001019272 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 223136782 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12127 FILM NUMBER: 03835276 BUSINESS ADDRESS: STREET 1: ONE PARKER PLAZA CITY: FORT LEE STATE: NJ ZIP: 07024 BUSINESS PHONE: 201-944-22 MAIL ADDRESS: STREET 1: ONE PARKER PLAZA CITY: FORT LEE STATE: NJ ZIP: 07024 FORMER COMPANY: FORMER CONFORMED NAME: INTEGRATED TECHNOLOGY USA INC DATE OF NAME CHANGE: 19960720 8-K 1 a35962.txt EMPIRE RESOURCES, INC. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Date of Report (Date of earliest event reported): August 11, 2003 (August 8, 2003) EMPIRE RESOURCES, INC. (Exact name of Registrant as specified in charter) DELAWARE (State or other jurisdiction of incorporation) 001-12127 22-3136782 (Commission file number) (IRS employer identification no.) ONE PARKER PLAZA FORT LEE, NJ 07024 (Address of principal executive offices) (201) 944-2200 (Registrant's telephone number, including area code) Item 7. Financial Statements, Financial Information and Exhibits. Exhibits. 99.1 Press Release of the Company dated August 8, 2003 relating to its second quarter results. Item 12. Disclosure of Results of Operations and Financial Condition Attached to this Current Report on Form 8-K as exhibit 99.1 is a copy of the Registrant's press release dated August 8, 2003 relating to its second quarter results. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 11, 2003 EMPIRE RESOURCES, INC. By: /s/ Sandra Kahn ----------------------- Sandra Kahn Chief Financial Officer EXHIBIT INDEX 99.1 Press release of the Company dated August 8, 2003 EX-99 3 ex99-1.txt EXHIBIT 99.1 EXHIBIT 99.1 Empire Resources Inc. One Parker Plaza Fort Lee, NJ 07024 FOR IMMEDIATE RELEASE EMPIRE RESOURCES ANNOUNCES SECOND QUARTER RESULTS FORT LEE, NJ, August 8, 2003 - Empire Resources, Inc. (AMEX:ERS), a distributor of value added, semi-finished aluminum products, today announced net income for the three and six months ended June 30, 2003 of $990,000 and $1,860,000 as compared to $637,000 and $1,371,000 for the same periods in 2002. Net sales for the three and six months were $46,873,000 and $91,810,000 as compared to $37,838,000 and $78,255,000 for the same periods in 2002. Net sales increased 24% for the three month period and 17% for the six month period as compared to the prior year. "Despite the continued weak global economy we were able to achieve increased net sales which resulted in increased net income," said Nathan Kahn, Chief Executive Officer. Empire Resources, Inc. is a distributor of a wide range of semi-finished aluminum products to customers in the transportation, automotive, housing, appliance and packaging industries in the U.S., Canada, Australia and New Zealand. It maintains supply contracts with aluminum mills in various parts of the world. This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, the ability of the company to grow internally or by acquisition and to integrate acquired businesses, not being able to improve operating margins and efficiencies, changing industry and competitive conditions, and other risks referred to in the Company's registration statements and periodic reports filed with the Securities & Exchange Commission Contact: William Spier 212 759-3287 (ext. 101) wspier@empireresources.com (Table Follows)
In thousands, except per share data Three Months Ended June 30, Six Months Ended June 30, ---------------------------- ---------------------------- 2003 2002 2003 2002 ---------------------------- ---------------------------- Net sales $ 46,873 $ 37,838 $ 91,810 $ 78,255 Cost of goods sold 43,556 35,160 85,297 72,739 ----------- ----------- ----------- ----------- Gross profit 3,317 2,678 6,513 5,516 Selling, general and administrative expenses 1,489 1,389 3,011 2,767 ----------- ----------- ----------- ----------- Operating income 1,828 1,289 3,502 2,749 Interest expense 249 260 475 527 ----------- ----------- ----------- ----------- Income before income taxes 1,579 1,029 3,027 2,222 Income taxes 589 392 1,167 851 ----------- ----------- ----------- ----------- Net income $ 990 $ 637 $ 1,860 $ 1,371 ===== ===== ===== ===== Weighted average shares outstanding: Basic 9,432 10,564 9,433 10,564 ===== ====== ===== ====== Diluted 9,587 10,699 9,564 10,697 ===== ====== ===== ====== Earnings per share: Basic $0.10 $0.06 $0.20 $0.13 ===== ===== ===== ===== Diluted $0.10 $0.06 $0.19 $0.13 ===== ===== ===== =====
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