-----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, FmyAl7ZXB0ssXYZ9xyX3TS+jgb4caKTKyNvBUbnGr4F7y+847H8m5QugM3CUYLUM GPTixAdgY5maryqaukA2MQ== 0001299933-06-003188.txt : 20060505 0001299933-06-003188.hdr.sgml : 20060505 20060505105240 ACCESSION NUMBER: 0001299933-06-003188 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060504 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060505 DATE AS OF CHANGE: 20060505 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORE MOLDING TECHNOLOGIES INC CENTRAL INDEX KEY: 0001026655 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 311481870 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12505 FILM NUMBER: 06811157 BUSINESS ADDRESS: STREET 1: 800 MANOR PARK DRIVE STREET 2: P O BOX 28183 CITY: COLUMBUS STATE: OH ZIP: 43228 BUSINESS PHONE: 8006666960 MAIL ADDRESS: STREET 1: 800 MANOR PARK DR STREET 2: P O BOX 28183 CITY: COLUMBUS STATE: OH ZIP: 43228 FORMER COMPANY: FORMER CONFORMED NAME: CORE MATERIALS CORP DATE OF NAME CHANGE: 19961107 8-K 1 htm_12205.htm LIVE FILING CORE MOLDING TECHNOLOGIES, INC. (Form: 8-K)  

 


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 4, 2006

CORE MOLDING TECHNOLOGIES, INC.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 001-12505 31-1481870
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
800 MANOR PARK DRIVE, P.O.BOX 28183, COLUMBUS, Ohio   43228-0183
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   614-870-5000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

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:

[  ]  Written communications 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.

On May 4, 2006, Core Molding Technologies, Inc. announced earnings for the first quarter ending March 31, 2006. A copy of the press release announcing this event is included in this form 8-K as exhibit 99(a).





Item 9.01 Financial Statements and Exhibits.

Exhibit 99(a)

Press release announcing earnings for Core Molding Technologies, Inc. for the first quarter ending March 31, 2006.






SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    CORE MOLDING TECHNOLOGIES, INC.
          
May 4, 2006   By:   /s/ Herman F. Dick, Jr.
       
        Name: Herman F. Dick, Jr.
        Title: Treasurer, Chief Financial Officer and Secretary


Exhibit Index


     
Exhibit No.   Description

 
99.(a)
  Press Release
EX-99.(A) 2 exhibit1.htm EX-99.(A) EX-99.(a)

\

     
FOR IMMEDIATE RELEASE
  CONTACT:
 
  Herman F. Dick, Jr.
(614) 870-5604

CORE MOLDING TECHNOLOGIES REPORTS FIRST QUARTER 2006 RESULTS

COLUMBUS, Ohio – May 4, 2006 – Core Molding Technologies, Inc. (AMEX: CMT) today announced results for the first quarter ended March 31, 2006.

Net income for the quarter was $2,282,000, or $.23 per basic and $.22 per diluted share, compared with net income of $1,956,000, or $.20 per basic share and diluted share, in the first quarter of 2005. Total net sales for the first quarter of 2006 were $36,502,000, compared with $32,517,000 in the same quarter of 2005. The Company’s product sales increased 17% to $35,355,000, from $30,217,000, for the similar period in 2005 primarily due to the addition of the Batavia, Ohio operation, which was acquired in August 2005.

“We are pleased with the results of our first quarter,” said James L. Simonton, president and chief executive officer. “We have continued to focus on improving our operations and moving forward our strategic initiatives for growth. Our Batavia operation is beginning to show improvement and we will continue to focus on this operation over the balance of the year. We are also on plan with our previously announced $4.6 million expansion of our Columbus facility in preparation for new products, which are expected to launch in 2007.”

Core Molding Technologies, Inc. is a compounder of sheet molding composites (SMC) and molder of fiberglass reinforced plastics. The Company’s processing capabilities include the compression molding of SMC, resin transfer molding, multiple insert tooling (MIT), resin transfer molding, spray up and hand lay up processes. The Company produces high quality fiberglass reinforced, molded products and SMC materials for varied markets, including light, medium and heavy-duty trucks, automobiles, automobile aftermarket, personal watercraft and other commercial products. Core Molding Technologies, with its headquarters in Columbus, Ohio, operates plants in Columbus, Batavia, Ohio, Gaffney, South Carolina, and Matamoros, Mexico.

This press release contains certain forward-looking statements within the meaning of the federal securities laws. As a general matter, forward-looking statements are those focused upon future plans, objectives or performance as opposed to historical items and include statements of anticipated events or trends and expectations and beliefs relating to matters not historical in nature. Such forward-looking statements involve known and unknown risks and are subject to uncertainties and factors relating to Core Molding Technologies’ operations and business environment, all of which are difficult to predict and many of which are beyond Core Molding Technologies’ control. These uncertainties and factors could cause Core Molding Technologies’ actual results to differ materially from those matters expressed in or implied by such forward-looking statements.

Core Molding Technologies believes that the following factors, among others, could affect its future performance and cause actual results to differ materially from those expressed or implied by forward-looking statements made in this quarterly report: business conditions in the plastics, transportation, watercraft and commercial product industries; general economic conditions in the markets in which Core Molding Technologies operates; dependence upon four major customers as the primary source of Core Molding Technologies’ sales revenues; recent efforts of Core Molding Technologies to expand its customer base; failure of Core Molding Technologies’ suppliers to perform their contractual obligations; the availability of raw materials; inflationary pressures; new technologies; competitive and regulatory matters; labor relations; the loss or inability of Core Molding Technologies to attract key personnel; the availability of capital; the ability of Core Molding Technologies to provide on-time delivery to customers, which may require additional shipping expenses to ensure on-time delivery or otherwise result in late fees; risk of cancellation or rescheduling of orders; management’s decision to pursue new products or businesses which involve additional costs, risks or capital expenditures; and other risks identified from time-to-time in Core Molding Technologies other public documents on file with the Securities and Exchange Commission, including those described in Item 1A of the 2005 Annual Report to Shareholders on Form 10-K.

SEE ATTACHED FINANCIALS

1

CORE MOLDING TECHNOLOGIES, INC.

Condensed Income Statement
(in thousands, except per share data)

                 
    Three Months Ended
    03/31/06   03/31/05
    (Unaudited)   (Unaudited)
Product Sales
  $ 35,355     $ 30,218  
Tooling Sales
    1,147       2,299  
 
               
Net Sales
    36,502       32,517  
Cost of Sales
    29,674       26,116  
 
               
Gross Margin
    6,828       6,401  
Selling, General and Admin. Expense
    3,176       3,086  
 
               
Operating Income
    3,652       3,315  
Interest Expense – Net
    39       173  
 
               
Income before Taxes
    3,613       3,142  
Income Tax Expense
    1,331       1,186  
 
               
Net Income
  $ 2,282     $ 1,956  
 
               
Net Income per Common Share
               
Basic
  $ 0.23     $ 0.20  
 
               
Diluted
  $ 0.22     $ 0.20  
 
               
 
               
Weighted Average Shares Outstanding:
               
Basic
    10,047       9,781  
 
               
Diluted
    10,591       9,853  
 
               
Condensed Balance Sheet (in thousands)
               
 
  As of   As of
 
    03/31/06       12/31/05  
 
               
 
  (Unaudited)        
Assets
               
 
               
Cash
  $ 15,053     $ 9,414  
Accounts Receivable
    24,137       22,280  
Inventories
    7,281       7,295  
Other Current Assets
    4,564       3,913  
Property, Plant & Equipment – net
    24,499       23,670  
Deferred Tax Asset – net
    6,127       6,164  
Other Assets
    1,469       1,485  
 
               
Total Assets
  $ 83,130     $ 74,221  
 
               
Liabilities and Stockholders’ Equity
               
 
               
Current Portion of Long-term Debt
  $ 1,786     $ 1,776  
Current Portion of Graduated lease payments and deferred gain
    567       567  
Accounts Payable
    14,650       10,224  
Accrued Liabilities and Other
    9,678       7,484  
Long-term Debt
    9,144       9,695  
Deferred Long-term Gain and Graduated Lease Payments
    425       567  
Post Retirement Benefits Liability
    10,238       9,767  
Stockholders’ Equity
    36,642       34,141  
 
               
Total Liabilities and Stockholders’ Equity
  $ 83,130     $ 74,221  
 
               

2 -----END PRIVACY-ENHANCED MESSAGE-----