-----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, KCSLZfBcTnsUNULEYZyT3cP773CCRaodG7/SMZHAgJklnHuH831sAuBqSCTdvcU+ vzUFXTD+5xcn2cgNpK0oBg== 0000950117-04-001109.txt : 20040324 0000950117-04-001109.hdr.sgml : 20040324 20040324162031 ACCESSION NUMBER: 0000950117-04-001109 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040323 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040324 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: 04687565 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 a37336.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): March 24, 2004 (March 23, 2004) 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 March 23, 2004 relating to its 2003 operating results and dividend for the first quarter of 2004.
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 March 23, 2004 relating to its year end results and dividend for the first quarter of 2004. 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: March 24, 2004 EMPIRE RESOURCES, INC. By: /s/ Sandra Kahn ----------------------- Sandra Kahn Chief Financial Officer EXHIBIT INDEX 99.1 Press release of the Company dated March 23, 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 RESULTS AND DECLARES DIVIDEND FOR FIRST QUARTER OF 2004 FORT LEE, NJ, March 23, 2004- Empire Resources, Inc. (AMEX:ERS), a distributor of value added, semi-finished aluminum products, today announced net income of $3,544,000 for 2003, compared to net income of $2,370,000 for 2002, an increase of 49.5% over the prior year's results. Net income increased to $0.37 per share on a fully diluted basis, as compared to net income in 2002 of $0.23 per share on a fully diluted basis. The Company reported a 16.2% increase in revenues from $158,738,000 in 2002 to $184,416,000 in 2003, as well as a 19.7% increase in gross profit from $11,024,000 million in 2002 to $13,194,000 in 2003. Empire Resources, Inc. also announced that its Board of Directors has declared a cash dividend of $0.04 per share. The dividend is payable April 19, 2004 to stockholders of record at the close of business on April 5, 2004. The Board of Directors intends to review its dividend policy on a quarterly basis and a determination by the Board of Directors will be made subject to profitability, free cash flow and other requirements of the business. 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) Condensed Consolidated Statements of Income In thousands, except per share amounts
Year Ended December 31, ------------------------------------ 2003 2002 2001 --------- --------- -------- Net sales $184,416 $158,738 $143,235 Cost of goods sold 171,222 147,714 133,862 ------- ------- -------- Gross profit 13,194 11,024 9,373 Selling, general and administrative expenses 6,419 6,032 5,290 ------- ------- -------- Operating income 6,775 4,992 4,083 Interest expense 1,013 1,046 2,032 ------- ------- -------- Income before income taxes 5,762 3,946 2,051 Income taxes 2,218 1,576 755 ------- ------- -------- Net income $ 3,544 $ 2,370 $ 1,296 ======= ======= ======== Weighted average shares outstanding: Basic 9,466 10,049 10,956 ===== ====== ====== Diluted 9,702 10,189 11,091 ===== ====== ====== Earnings per share: Basic $.37 $.24 $.12 ==== ==== ==== Diluted $.37 $.23 $.12 ==== ==== ====
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