-----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, C9AOLSduw7r9fB8hOV9Cc3p/7gmv8nwhxwRmKUH++ZZGvcXI2LI++LqaA3OfbNUG 9ndvsqgKuapSmLTAXJ1kiQ== 0000950117-05-001965.txt : 20050517 0000950117-05-001965.hdr.sgml : 20050517 20050517155913 ACCESSION NUMBER: 0000950117-05-001965 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050516 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050517 DATE AS OF CHANGE: 20050517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMPIRE RESOURCES INC /NEW/ CENTRAL INDEX KEY: 0001019272 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-METALS SERVICE CENTERS & OFFICES [5051] 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: 05838772 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 a39831.txt EMPIRE RESOURCES UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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): May 16, 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02. 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 May 16, 2005 relating to its first quarter operating results. The information in this Form 8-K and the exhibit attached hereto shall not be deemed "filed" for purposes of section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference to any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing. Item 9.01. Financial Statements and Exhibits. Exhibits. --------- 99.1 Press Release of the Company dated May 16, 2005 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: May 17, 2005 EMPIRE RESOURCES, INC. By: /s/ Sandra Kahn ----------------------- Sandra Kahn Chief Financial Officer EXHIBIT INDEX 99.1 Press release of the Company dated May 16, 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 FIRST QUARTER OPERATING RESULTS; POSTS INCREASED NET INCOME FORT LEE, NJ, May 16, 2005- Empire Resources, Inc. (AMEX:ERS), a distributor of value added, semi-finished aluminum products, today announced net income of $2,224,000 for the first quarter of 2005, compared to net income of $1,135,000 for the first quarter of 2004, or an increase of 96% over the prior year's results. Net income for the quarter increased to $0.23 per share on a fully diluted basis, as compared to net income for the same period in 2004 of $0.11 per share on a fully diluted basis. Compared with the same period last year the Company reported a 48% increase in revenues from $54,185,000 in 2004 to $80,014,000 in 2005 as well as a 53% increase in gross profit from $3,836,000 in 2004 to $5,874,000 in 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) In thousands, except per share amounts
Three Months Ended March 31, ----------------------- 2005 2004 -------- --------- Net sales $ 80,014 $ 54,185 Cost of goods sold 74,140 50,349 -------- --------- Gross profit 5,874 3,836 Selling, general and administrative expenses 1,756 1,691 -------- --------- Operating income 4,118 2,145 Interest expense 564 299 -------- --------- Income before income taxes 3,554 1,846 Income taxes 1,330 711 -------- --------- Net income $ 2,224 $ 1,135 ===== ===== Weighted average shares outstanding: Basic 9,599 9,530 ===== ===== Diluted 9,848 9,885 ===== ===== Earnings per share: Basic $0.23 $0.12 ===== ===== Diluted $0.23 $0.11 ===== =====
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