-----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, VzSPuCc8AvJXhIUL8qYe4Ko6LFLZ6lrFxK2pCAQ3HK9rYQn5qLcUerHdc27/8hrv 5LW1u/k83+3Bt41RF5xL8A== 0000950117-04-002882.txt : 20040809 0000950117-04-002882.hdr.sgml : 20040809 20040809161521 ACCESSION NUMBER: 0000950117-04-002882 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040809 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040809 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: 04961536 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 a38192.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 9, 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 August 9, 2004 relating to its second quarter operating 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 9, 2004 relating to its first quarter operating 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 9, 2004 EMPIRE RESOURCES, INC. By: /s/ Sandra Kahn ----------------------- Sandra Kahn Chief Financial Officer EXHIBIT INDEX 99.1 Press release of the Company dated August 9, 2004 EX-99 2 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 OPERATING RESULTS FORT LEE, NJ, August 09, 2004- 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, 2004 of $1,064,000 and $2,199,000 as compared to $990,000 and $1,860,000 for the same periods in 2003. Net income for the three and six months ended June 30, 2004 increased to $0.11 and $.22 per share on a fully diluted basis, as compared to $0.10 and $.19 per share on a fully diluted basis for the same period in 2003. Net sales for the three and six months were $51,605,000 and $105,790,000 as compared to $46,873,000 and $91,810,000 for the same periods in 2003. Net sales increased 10% for the three month period and 15% for the six month period as compared to the prior year. 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
Three Months Ended Six Months Ended June 30, June 30, ------------------ ------------------ 2004 2003 2004 2003 ---- ---- ---- ---- Net sales $51,605 46,873 $105,790 91,810 Cost of goods sold 47,782 43,556 98,131 85,297 ------- ------ -------- ------ Gross profit 3,823 3,317 7,659 6,513 Selling, general and administrative expenses 1,829 1,489 3,520 3,011 ------- ------ -------- ------ Operating income 1,994 1,828 4,139 3,502 Interest expense 274 249 573 475 ------- ------ -------- ------ Income before income taxes 1,720 1,579 3,566 3,027 Income taxes 656 589 1,367 1,167 ------- ------ -------- ------ Net income $1,064 990 $2,199 1,860 ======= ====== ======== ====== Weighted average shares outstanding: Basic 9,553 9,432 9,549 9,433 ======= ====== ======== ====== Diluted 9,903 9,587 9,902 9,564 ======= ====== ======== ====== Earnings per share: Basic $0.11 $0.10 $0.23 $0.20 ======= ====== ======== ====== Diluted $0.11 $0.10 $0.22 $0.19 ======= ====== ======== ======
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