-----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, G2ynIcRL4exVhpIMQYSX/Ixx1n/CymXtr7FRgYBDOHyBtBV7mHX/Pxe3U2qp/xUI gt0yYCeiOsYR8hLs4vPS3Q== 0000950117-05-001312.txt : 20050405 0000950117-05-001312.hdr.sgml : 20050405 20050405140732 ACCESSION NUMBER: 0000950117-05-001312 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050401 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050405 DATE AS OF CHANGE: 20050405 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: 05733352 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 a39550.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): April 1, 2005 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 9.01. Financial Statements, Financial Information and Exhibits. Exhibits. --------- 99.1 Press Release of the Company dated April 1, 2005 relating to its 2004 operating results. Item 2.02. 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 April 1, 2005 relating to its 2004 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: April 5, 2005 EMPIRE RESOURCES, INC. By: /s/ Sandra Kahn ----------------------- Sandra Kahn Chief Financial Officer EXHIBIT INDEX 99.1 Press release of the Company dated April 1, 2005 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 2004 OPERATING RESULTS FORT LEE, NJ, April 1, 2005- Empire Resources, Inc. (AMEX:ERS), a distributor of value added, semi-finished aluminum products, today announced net income of $4,810,000 for 2004 compared to net income of $3,544,000 for 2003, an increase of 36% over the prior year's results. Net income increased to $0.49 per share on a fully diluted basis, as compared to net income in 2003 of $0.37 per share on a fully diluted basis. The Company reported a 15% increase in revenues from $184,416,000 in 2003 to $212,550,000 in 2004, as well as a 23% increase in gross profit from $13,194,000 million in 2003 to $16,284,000 in 2004. The Company also announced that it has purchased a new warehouse and manufacturing facility in Baltimore, Maryland. This building is being upgraded and is expected to be available for occupancy in the third quarter of 2005. The Company also announced that it has purchased an aluminum extrusion press which it intends to install in its new facility. The Company expects to begin manufacturing extrusions during the latter half of 2005. 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)
Year Ended December 31, ---------------------------------------- 2004 2003 2002 ---------------------------------------- Net sales $ 212,550 $ 184,416 $ 158,738 Cost of goods sold 196,266 171,222 147,714 ---------- ---------- ---------- Gross profit 16,284 13,194 11,024 Selling, general and administrative expenses 7,457 6,419 6,032 ---------- ---------- ---------- Operating income 8,827 6,775 4,992 Interest expense 1,140 1,013 1,046 ---------- ---------- ---------- Income before income taxes 7,687 5,762 3,946 Income taxes 2,877 2,218 1,576 ---------- ---------- ---------- Net income $ 4,810 $ 3,544 $ 2,370 ========== ========== ========== Weighted average shares outstanding: Basic 9,574 9,466 10,049 ----- ----- ------ Diluted 9,913 9,702 10,189 ----- ----- ------ Earnings per share: Basic $.50 $.37 $.24 ----- ----- ------ Diluted $.49 $.37 $.23 ----- ----- ------
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