-----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, Ly4nG13Sc8hYpYn4IDdkMNUywPJWoSBtFdfWXN0N8x6Lo5/6odv3ACMzAwe9JKUj R1ssxZCpTN9whaJniwET4w== 0001049606-98-000008.txt : 19980422 0001049606-98-000008.hdr.sgml : 19980422 ACCESSION NUMBER: 0001049606-98-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980421 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980421 SROS: NONE 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: 98597820 BUSINESS ADDRESS: STREET 1: 200 OLD MILL RD CITY: MAULDIN STATE: SC ZIP: 29662 BUSINESS PHONE: 8642976655 MAIL ADDRESS: STREET 1: 5430 LBJ FREEWAY STREET 2: SUITE 1700 CITY: DALLAS STATE: TX ZIP: 75240-2697 8-K 1 COMPX INTERNATIONAL INC. 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 21, 1998 (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.) 200 Old Mill Road, Mauldin, SC 29662 (Address of principal executive offices) (Zip Code) (864) 297-6655 (Registrant's telephone number, including area code) Not applicable (Former name or address, if changed since last report) Item 5: Other Events On April 21, 1998, the Registrant 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 21, 1998 issued by the Registrant 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. VALHI, INC. (Registrant) By: /s/ Bobby D. O'Brien Bobby D. O'Brien Vice President & Treasurer Date: April 21, 1998 EX-99.1 2 PRESS RELEASE FOR IMMEDIATE RELEASE: CONTACT: CompX International Inc. Joseph S. Compofelice 200 Old Mill Road Chief Executive Officer Mauldin, South Carolina (281) 423-3303 COMPX REPORTS FIRST QUARTER 1998 RESULTS MAULDIN, SOUTH CAROLINA _ April 21, 1998 _ CompX International Inc. (NYSE: CIX) reported net income for the first quarter of 1998 of $2.2 million, or $.18 per diluted share, compared to net income of $3.7 million, or $.37 per diluted share, for the first quarter of 1997. The Company's results for the first quarter of 1998 include a non-recurring charge of $3.3 million ($2.3 million after tax, or $.20 per diluted share) related to shares of the Company's Class A common stock awarded to key individuals in connection with the Company's recently completed initial public offering. Excluding the charge associated with the stock award, the Company's first quarter of 1998 operating results improved compared to first quarter of 1997 on record sales resulting primarily from increased sales volume in locks, precision ball bearing slides and ergonomic products. Excluding the stock award charge discussed above, operating income in the first quarter of 1998 increased to $7.6 million from $6.3 million in the first quarter of 1997. Excluding the effect of the stock award charge, operating income margins remained strong at approximately 24% in both periods, and excluding the effect of the Fort Lock operations acquired in early March 1998, increased by approximately 1% in the first quarter of 1998 compared to the first quarter of 1997. Net sales increased 24% from $25.8 million in the first quarter of 1997 to $32.1 million in the first quarter of 1998. Approximately one-third of the increase in net sales results from the Fort Lock acquisition. Sales volumes continue to benefit from continued strong demand in the office furniture market and new product introductions in the slide and ergonomic products areas. "With strong economic conditions in our major markets and good office furniture products demand, our plants are running very efficiently. Our continued emphasis on new product introductions and cost containment should enable us to record excellent earnings growth in 1998," said Joseph S. Compofelice, Chairman and Chief Executive Officer. CompX is a leading manufacturer of ergonomic computer support systems, precision ball bearing slides and locking systems. Statements in this release relating to matters that are not historical facts are forward-looking statements that involve risks and uncertainties, including, but not limited to, general economic and political conditions, demand for office furniture, service industry employment levels, competitive products and prices and other risks and uncertainties detailed in the Company's Securities and Exchange Commission filings. Actual results could differ materially from those forecast or expected. The Company assumes no duty to publicly update such statements. ******* COMPX INTERNATIONAL INC. SUMMARY OF CONSOLIDATED OPERATIONS (In millions, except per share data) (Unaudited) Quarters ended March 31, 1997 1998 Net sales $ 25.8 $ 32.1 Operating income $ 6.3 $ 4.3 General corporate expense (0.2) - Interest expense - (0.7) Income before income taxes 6.1 3.6 Income tax expense 2.4 1.4 Net income $ 3.7 $ 2.2 Net income per diluted common share $ 0.37 $ 0.18 Weighted average diluted common shares outstanding 10.0 11.8 -----END PRIVACY-ENHANCED MESSAGE-----