-----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, KiR8oZ2Zl/+rsy3EE+coqXOqjWMcOG0YmHcIKDqvzI9NoPOuwYLl7n2TtfGpXpLK bqeOwvVEAm87vxl757HdvA== 0000950131-03-002672.txt : 20030508 0000950131-03-002672.hdr.sgml : 20030508 20030507175551 ACCESSION NUMBER: 0000950131-03-002672 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030507 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLIANT CORP CENTRAL INDEX KEY: 0001049442 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, FOIL & COATED PAPER BAGS [2673] IRS NUMBER: 870496065 STATE OF INCORPORATION: UT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-40067 FILM NUMBER: 03686937 BUSINESS ADDRESS: STREET 1: 1475 WOODFIELD ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 BUSINESS PHONE: 8479693300 MAIL ADDRESS: STREET 1: 1475 WOODFIELD ROAD CITY: SCHAUMBURG STATE: IL ZIP: 60173 FORMER COMPANY: FORMER CONFORMED NAME: HUNTSMAN PACKAGING CORP DATE OF NAME CHANGE: 19971110 8-K 1 d8k.txt FORM 8-K ================================================================================ 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 May 7, 2003 --------------------------------- (Date of earliest event reported) PLIANT CORPORATION ------------------ (Exact name of registrant as specified in its charter) Utah 333-40067 87-0496065 - ------------------------------- --------------------- ------------------- (State or other jurisdiction of (Commission File No.) (I.R.S. Employer incorporation or organization) Identification No.) 1475 Woodfield Road, Suite 700 Schaumburg, IL 60173 (847) 969-3300 ------------------------------------------------------------- (Address of principal executive offices and telephone number, including area code) ================================================================================ ITEMS 9 AND 12. REGULATION FD DISCLOSURE AND RESULTS OF OPERATIONS AND FINANCIAL CONDITION On May 7, 2003, we filed our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2003. As previously announced, we will hold a conference call to discuss our operating results for the quarterly period ended March 31, 2003 and to answer questions about the business. The call will take place at 10:00 a.m. Eastern Daylight Savings Time on Thursday, May 8, 2003. Our press release containing information on how to access the conference call is filed herewith as Exhibit 99.1. In addition to the financial results reported in our Form 10-Q, our management will discuss certain quarterly financial information relating to the First Quarter 2003, including certain quarterly EBITDA amounts, as well as projected EBITDA and projected cash interest expense for future periods in 2003. The information required by Regulation G under the Securities Exchange Act of 1934 with respect to these amounts is filed herewith as Exhibit 99.2. The estimated amounts for future periods in 2003 contained in Exhibit 99.2 to this report constitute "forward-looking statements" within the meaning of the federal securities laws. There can be no assurance that these estimates will be achieved. There are a number of risks and uncertainties that could cause our actual results to differ materially from our estimates. These risks include, but are not limited to: general economic and business conditions, particularly a continuing economic downturn; industry trends; increases in our leverage; interest rate increases; changes in our ownership structure; raw material costs, availability and terms, particularly resin; competition; the loss of any of our significant customers; changes in the demand for our products; new technologies; the availability and associated cost of insurance coverage; changes in distribution channels or competitive conditions in the markets or countries in which we operate; costs of integrating any recent or future acquisitions; loss of our intellectual property rights; foreign currency fluctuations and devaluations and political instability in our foreign markets; changes in our business strategy or development plans; availability, terms and deployment of capital; availability of qualified personnel; and increases in the cost of compliance with laws and regulations, including environmental laws and regulations. These risks and certain other uncertainties are discussed in more detail in our Annual Report on Form 10-K for the year ended December 31, 2002 and in our Registration Statement on Form S-4 (file no. 333-86532), as amended, filed with the Securities and Exchange Commission. 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 thereunto duly authorized. PLIANT CORPORATION /s/ Brian E. Johnson ---------------------------------------------------- Brian E. Johnson Executive Vice President and Chief Financial Officer Date: May 7, 2003 INDEX TO EXHIBITS Exhibits -------- 99.1 Press Release dated May 5, 2003. 99.2 Pliant Corporation Adjusted EBITDA Reconciliation. EX-99.1 3 dex991.txt PRESS RELEASE DATED 5/5/03 Ex-99.1 May 5, 2003 FOR IMMEDIATE RELEASE Pliant Corporation to Hold Conference Call First Quarter 2003 Financial Results SCHAUMBURG, IL -- Pliant Corporation announced today that Brian Johnson, Executive Vice President and Chief Financial Officer, will host a conference call to discuss the Company's First Quarter 2003 operating results and to answer questions about the business. The call will take place at 10:00 a.m. Eastern Daylight Savings Time on Thursday, May 8, 2003. This is a change from the previously announced date of Thursday, May 15, 2003. Participants in the United States can access the conference call by calling 888-455-9649, using the access code Pliant, or internationally by calling 773-756-4818 and using the same access code (Pliant). Participants are encouraged to dial-in at least ten minutes prior to the start of the teleconference. Following the call's completion, the replay will be available through 5:00 p.m. Eastern Daylight Savings Time on Friday, May 16, 2003. Telephone numbers to access the replay are as follows: United States 800-677-5886, International 402-998-1184. No access code required for the replay. Pliant Corporation is a leading producer of value-added film and flexible packaging products for personal care, medical, food, industrial and agricultural markets. The Company operates 26 manufacturing and research and development facilities around the world, and employs approximately 3,250 people. # # # CONTACTS: John C. McCurdy Director of Corporate Communications Voice: 330.896.6732 Fax: 330.896.6733 E-mail: john.mccurdy@pliantcorp.com Brian Johnson EVP and Chief Financial Officer E-mail: brian.johnson@pliantcorp.com Voice: 847.969.3319 Company Web Site: www.pliantcorp.com EX-99.2 4 dex992.txt PLIANT CORPORATION ADJUSTED EBITDA RECONCILIATION Ex-99.2 PLIANT CORPORATION Adjusted EBITDA Reconciliation ($ Millions)
3 months 3 months 3 months 3 months 12 months ended ended ended ended estimated 3/31/03 12/31/02 9/30/02 3/31/02 12/31/03 --------- ---------- --------- --------- ---------- 2002 Net Income (loss) $(43.4) 2002 Q3 YTD Net Income (loss) (7.6) ---------- Net Income (loss) (7.3) (35.8) (7.5) 2.6 (1.5) Adjustments: Income tax expense (benefit) 2.0 (1.3) (1.9) 2.0 - Interest expense 19.9 20.2 19.1 16.9 82.3 Depreciation and amortization 11.2 11.9 12.0 11.3 43.2 Restructuring and other costs 6.1 31.2 5.8 3.3 8.0 Other non-cash charges and net adjustments for certain unusual items 0.2 - 0.3 - - --------- ----------- --------- --------- ----------- Adjusted EBITDA 32.1 26.2 27.8 36.1 132.0 ========= =========== ========= ========= =========== Interest Expense Reconciliation ($ Millions) Interest Expense $82.3 Amortization of bank fees (4.0) ----------- Cash interest expense $78.3 ===========
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