-----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, OuHuf87JCbjIokSSXu+OvXjya2Y4CP/gXygjT02O37ClgYqMlkszwLQOzuz3miaF rTifo5MQPNaSXMT3Y0eGig== 0001049606-00-000010.txt : 20000419 0001049606-00-000010.hdr.sgml : 20000419 ACCESSION NUMBER: 0001049606-00-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000418 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000418 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPX INTERNATIONAL INC CENTRAL INDEX KEY: 0001049606 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FABRICATED METAL PRODUCTS [3490] IRS NUMBER: 570981653 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13905 FILM NUMBER: 603752 BUSINESS ADDRESS: STREET 1: 16825 NORTHCHASE DRIVE STREET 2: SUITE 1200 CITY: HOUSTON STATE: TX ZIP: 77060 BUSINESS PHONE: 2814233377 MAIL ADDRESS: STREET 1: 16825 NORTHCHASE DRIVE STREET 2: SUITE 1200 CITY: HOUSTON STATE: TX ZIP: 77060 8-K 1 COMPX FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 April 18, 2000 (Date of Report, date of earliest event reported) COMPX INTERNATIONAL INC. (Exact name of registrant as specified in its charter) Delaware 1-13905 57-0981653 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation) No.) 16825 Northchase Drive, Suite 1200, Houston, Texas 77060 (Address of principal executive offices) (Zip Code) (281) 423-3377 (Registrant's telephone number, including area code) (Former name or address, if changed since last report) Item 5: Other Events On April 18, 2000, the registrant, CompX International Inc., issued the press release attached hereto as Exhibit 99.1, which is incorporated herein by reference. Item 7: Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibit Item No. Exhibit Index ---------- ------------------------------------------ 99.1 Press release dated April 18, 2000 issued by CompX International Inc. 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. COMPX INTERNATIONAL INC. (Registrant) By: /s/ Andrew Louis ----------------------- Andrew Louis, Secretary Date: April 18, 2000 EX-99.1 2 COMPX PRESS RELEASE 4/18/00 [LOGO GOES HERE] - ------------------------------------------------------------------------------- PRESS RELEASE - ------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE: CONTACT: CompX International Inc. John A. Miller 16825 Northchase Drive Chief Financial Officer Houston, Texas 77060 Tel. 281-423-3391 COMPX REPORTS INCREASED SALES AND OPERATING INCOME HOUSTON, TEXAS . . . April 18, 2000 . . . CompX International Inc. (NYSE: CIX) announced its first quarter 2000 results and reported a 20% increase in net sales and an 11% increase in operating income from the same quarter a year ago. Net sales increased to $66.1 million in the first quarter of 2000 compared to $55.2 million in the first quarter of 1999. Operating income increased to $10.7 million in the first quarter of 2000 compared to $9.6 million in the first quarter of 1999. Net income in the first quarter of 2000 was $6.6 million, or $.41 per diluted share, compared to net income of $5.9 million, or $.37 per diluted share, for the same quarter a year ago. The increase in net sales for the first quarter versus a year ago is due to increased demand for the Company's office furniture products, market share gains in slide products, and acquisitions. Excluding the effect of acquisitions, net sales increased 7% from the first quarter of 1999 with net sales of slides increasing 13%, ergonomics net sales increasing 7%, and security products net sales remaining essentially flat. During the first quarter of 2000 weakness in the Euro negatively impacted net sales and operating income. Excluding the effect of currency and acquisitions, net sales increased 9% over the first quarter of 1999. "Our sales growth rate continued to exceed the BIFMA growth rate and we have continued to improve the operating performance of our recent acquisitions," said Joseph S. Compofelice, Chairman and Chief Executive Officer. Mr. Compofelice added that "Our current backlog, inquiry rate, and feedback from our major customers all suggest a strong and improving level of activity for the rest of 2000." CompX is a leading manufacturer of ergonomic computer support systems, precision ball bearing slides and security products. Statements in this release relating to matters that are not historical facts are forward-looking statements based on management's belief and assumptions using currently available information. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that these expectations will prove to be correct. Such statements, by their nature, involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those described in such forward-looking statements. While it is not possible to identify all factors, the Company continues to face many risks and uncertainties. Among the factors that could cause actual future results to differ materially include, but are not limited to, general economic and political conditions, demand for office furniture, service industry employment levels, competitive products and prices, the introduction of tariff or non-tariff trade barriers, potential difficulties in integrating completed acquisitions and other risks and uncertainties detailed in the Company's Security and Exchange Commission filings. Should one or more of these risks materialize (or the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecast or expected. The Company disclaims any intention or obligation to update publicly or revise such statements whether as a result of new information, future events or otherwise. ******** COMPX INTERNATIONAL INC. SUMMARY OF CONSOLIDATED OPERATIONS (In millions, except per share amounts) (Unaudited) Three months ended ----------------------------- March 31, ----------------------------- 1999 2000 -------------- -------------- Total net sales $ 55.2 $ 66.1 Cost of sales 39.1 48.6 -------------- -------------- Gross profit 16.1 17.5 Selling, general and administrative 6.5 6.8 -------------- -------------- Operating income 9.6 10.7 Interest expense .4 .5 Interest income .2 .1 Other income (expense) (.1) .2 -------------- -------------- Income before income taxes 9.3 10.5 Income tax expense 3.4 3.9 -------------- -------------- Net income $ 5.9 $ 6.6 ============== ============== Net income per diluted common share $0.37 $0.41 ============== ============== Weighted average diluted common shares outstanding 16.1 16.2 ============== ============== -----END PRIVACY-ENHANCED MESSAGE-----