-----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, RK3M0QNMQ5NO/bCRhEedhO5hXAbgz4jSzYjNeDVa9RliIoNJ25hB1BAXwIvbwrg+ KKULRftAYL+r3FNYKHaSvQ== 0001305014-06-000209.txt : 20060728 0001305014-06-000209.hdr.sgml : 20060728 20060728172534 ACCESSION NUMBER: 0001305014-06-000209 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20060726 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060728 DATE AS OF CHANGE: 20060728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASHLAND INC. CENTRAL INDEX KEY: 0001305014 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-CHEMICALS & ALLIED PRODUCTS [5160] IRS NUMBER: 200865835 STATE OF INCORPORATION: KY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32532 FILM NUMBER: 06988936 BUSINESS ADDRESS: STREET 1: 50 EAST RIVERCENTER BLVD., 16TH FLOOR CITY: COVINGTON STATE: KY ZIP: 41012 BUSINESS PHONE: 859-815-3483 MAIL ADDRESS: STREET 1: 50 EAST RIVERCENTER BLVD., 16TH FLOOR CITY: COVINGTON STATE: KY ZIP: 41012 FORMER COMPANY: FORMER CONFORMED NAME: New EXM Inc. DATE OF NAME CHANGE: 20041004 8-K 1 form8k.txt 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): July 26, 2006 ASHLAND INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Kentucky (State or other jurisdiction of incorporation) 1-32532 20-0865835 (Commission File Number) (I.R.S. Employer Identification No.) 50 E. RIVERCENTER BOULEVARD, COVINGTON, KENTUCKY 41011 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) P.O. BOX 391, COVINGTON, KENTUCKY 41012-0391 (MAILING ADDRESS) (ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (859) 815-3333 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 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)) -1- ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On July 26, 2006, Ashland Inc. ("Ashland") posted the information contained in Exhibits 99.l and 99.2 on the "Investor Relations" section of its website located at www.ashland.com. Exhibits 99.1 and 99.2 include tables from a corporate fact sheet and a five year summary of operating and net income, each updated to reflect Ashland's financial results for the quarter ended June 30, 2006. On July 28, 2006, Ashland posted the information contained in Exhibit 99.3 on the "Investor Relations" section of its website revising the "Operating Information" table in its corporate fact sheet posted to the website on July 26, 2006. The information furnished gives historical data for Ashland's newly identified segments, Ashland Performance Materials and Ashland Water Technologies, which were previously reported together as a single segment, the former Ashland Specialty Chemical. The information in this report, being furnished pursuant to Item 2.02 of Form 8-K, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and is not incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 99.1 Tables from the Ashland Inc. Fact Sheet as of June 30, 2006, posted to website on July 26, 2006. 99.2 Five Year Operating and Net Income Summary posted to website on July 26, 2006. 99.3 Tables from the Ashland Inc. Fact Sheet as of June 30, 2006, posted to website on July 28, 2006. -2- 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. ASHLAND INC. ---------------------------------------- (Registrant) July 28, 2006 /s/ J. Marvin Quin ---------------------------------------- J. Marvin Quin Senior Vice President and Chief Financial Officer -3- EXHIBIT INDEX 99.1 Tables from the Ashland Inc. Fact Sheet as of June 30, 2006, posted to website on July 26, 2006. 99.2 Five Year Operating and Net Income Summary posted to website on July 26, 2006. 99.3 Tables from the Ashland Inc. Fact Sheet as of June 30, 2006, posted to website on July 28, 2006. -4- EX-99 2 ex99-1.txt EXHIBIT 99.1 EXHIBIT 99.1 (Tables from the Ashland Inc. Fact Sheet as of June 30, 2006, posted to Ashland Inc.'s website on July 26, 2006)
FINANCIAL INFORMATION 2001 2002 2003 2004 2005 YTD-2006 Q3-2006 ------ ------ ------ ------ ------ -------- ------- Sales & Operating Revenues ($, millions) APAC 2,624 2,652 2,400 2,525 2,539 2,053 838 Performance Materials 782 814 875 1,026 1,369 1,068 370 Distribution 2,858 2,541 2,811 3,199 3,810 3,046 1,050 Valvoline 1,064 1,152 1,235 1,297 1,326 1,030 366 Water Technologies 309 316 337 360 394 310 113 Intersegment Sales (93) (85) (92) (106) (168) (129) (46) ------ ------ ------ ------ ------ -------- ------- 7,544 7,390 7,566 8,301 9,270 7,378 2,691 Operating Income ($, millions) APAC 42 111 (57) 94 30 95 68 Performance Materials 5 34 (1) 42 88 94 41 Distribution 17 (15) 12 56 99 95 30 Valvoline 58 56 61 77 59 (6) (10) Water Technologies 7 12 3 14 11 9 9 Refining & Marketing 707 143 263 383 486 - - Unallocated & Other (5) (20) (15) (4) (27) (16) (11) ------ ------ ------ ------ ------ -------- ------- 831 321 266 662 746 271 127
OPERATING INFORMATION 2001 2002 2003 2004 2005 YTD-2006 Q3-2006 ------ ------ ------ ------ ------ -------- ------- APAC Construction backlog ($, millions) 1,629 1,691 1,745 1,746 2,038 1,951 Net construction job revenues ($, millions) 1,547 1,527 1,361 1,433 1,458 1,189 509 Hot-mix asphalt production (million tons) 36.7 36.7 32.5 33.4 31.3 20.7 8.7 Aggregate production (million tons) 28.7 31.0 28.7 29.6 31.4 23.7 8.7 Performance Materials Sales dollars per shipping day ($, millions) 3.1 3.2 3.5 4.0 5.4 5.7 5.9 Pounds sold per shipping day (millions) 4.4 4.7 4.7 5.1 5.4 5.0 5.1 Gross profit as a % of sales 19.5 25.8 22.1 20.4 20.4 23.2 25.0 Distribution Sales dollars per shipping day ($, millions) 11.2 10.1 11.2 12.6 15.1 16.2 16.7 Pounds sold per shipping day (millions) 19.0 17.3 18.2 19.4 19.2 19.0 19.6 Gross profit as a % of sales 8.9 9.7 9.9 9.6 9.7 9.7 9.3 Valvoline Lubricant sales (million gallons) 187.4 199.0 193.5 191.6 175.4 127.8 45.1 Premium lubricants (% of U.S. branded volumes) 11.7 16.1 18.5 21.5 23.4 23.2 22.4 Gross profit as a % of sales 26.5 27.3 27.8 28.2 26.6 21.4 20.2 Water Technologies Sales dollars per shipping day ($, millions) 1.2 1.3 1.3 1.4 1.6 1.6 1.8 Gross profit as a % of sales 55.2 51.2 50.4 49.3 47.8 47.0 45.5
EX-99 3 ex99-2.txt EXHIBIT 99.2 EXHIBIT 99.2
ASHLAND INC. OPERATING AND NET INCOME SUMMARY* (In millions except per share data - unaudited) Operating Income Income ---------------------------------------------------------------------------------------- from Performance Water Refining & Unallocated Continuing Net APAC Materials Distribution Valvoline Technologies Marketing and other Total Operations Income -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- FISCAL 2001 Qtr ended 12/31/00 $ 11 $ 4 $ 6 $ 6 $ 2 $ 109 $ (2) $ 136 $ 54 $ 59 Qtr ended 3/31/01 (41) - 10 13 2 96 (1) 79 21 46 Qtr ended 6/30/01 33 5 8 16 4 302 (2) 366 195 197 Qtr ended 9/30/01 40 (4) (7) 23 - 201 (2) 251 120 116 -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- Year ended 9/30/01 $ 42 $ 5 $ 17 $ 58 $ 7 $ 707 $ (5) $ 831 $ 390 $ 417 ======== =========== ============ ========= ============ =========== =========== ======= ========== ======== FISCAL 2002 Qtr ended 12/31/01 (a) $ 33 $ 7 $ 5 $ 7 $ 3 $ 45 $ (4) $ 96 $ 37 $ 27 Qtr ended 3/31/02 (b) (16) 9 (7) 12 2 - (3) (3) (23) (21) Qtr ended 6/30/02 39 11 (2) 20 3 66 (5) 132 61 65 Qtr ended 9/30/02 55 8 (12) 17 4 33 (9) 96 41 47 -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- Year ended 9/30/02 $ 111 $ 34 $ (15) $ 56 $ 12 $ 143 $ (20) $ 321 $ 115 $ 117 ======== =========== ============ ========= ============ =========== =========== ======= ========== ======== FISCAL 2003 Qtr ended 12/31/02 $ (4) $ 4 $ 3 $ 7 $ 1 $ 24 $ (3) $ 32 $ (1) $ (92) Qtr ended 3/31/03 (59) 1 3 14 - 21 (4) (24) (37) (39) Qtr ended 6/30/03 15 (4) 9 20 2 100 (4) 138 71 70 Qtr ended 9/30/03 (10) (2) (3) 20 - 118 (4) 119 61 137 -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- Year ended 9/30/03 $ (57) $ (1) $ 12 $ 61 $ 3 $ 263 $ (15) $ 266 $ 94 $ 75 ======== =========== ============ ========= ============ =========== =========== ======= ========== ======== FISCAL 2004 Qtr ended 12/31/03 $ 28 $ 13 $ 9 $ 15 $ 4 $ 26 $ (3) $ 92 $ 39 $ 34 Qtr ended 3/31/04 (36) 10 15 20 3 2 (4) 10 (11) (16) Qtr ended 6/30/04 39 9 17 22 4 205 (4) 292 167 161 Qtr ended 9/30/04 64 9 14 20 3 151 7 268 203 200 -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- Year ended 9/30/04 $ 94 $ 42 $ 56 $ 77 $ 14 $ 383 $ (4) $ 662 $ 398 $ 378 ======== =========== ============ ========= ============ =========== =========== ======= ========== ======== FISCAL 2005 Qtr ended 12/31/04 $ 4 $ 12 $ 20 $ 13 $ 4 $ 136 $ (9) $ 180 $ 94 $ 94 Qtr ended 3/31/05 (51) 28 29 17 3 61 (1) 86 33 33 Qtr ended 6/30/05 (c) 41 33 31 19 2 290 (6) 410 1,767 1,767 Qtr ended 9/30/05 36 15 19 10 2 - (12) 70 112 111 -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- Year ended 9/30/05 $ 30 $ 88 $ 99 $ 59 $ 11 $ 486 $ (27) $ 746 $ 2,005 $ 2,004 ======== =========== ============ ========= ============ =========== =========== ======= ========== ======== FISCAL 2006 Qtr ended 12/31/05 $ 39 $ 26 $ 34 $ 1 $ 1 $ - $ (6) $ 95 $ 67 $ 66 Qtr ended 3/31/06 (11) 27 30 2 (1) - 2 49 49 49 Qtr ended 6/30/06 68 41 30 (10) 9 - (11) 127 93 93 Qtr ended 9/30/06 -------- ----------- ------------ --------- ------------ ----------- ----------- ------- ---------- -------- Year-to-date 6/30/06 $ 95 $ 94 $ 95 $ (6) $ 9 $ - $ (16) $ 271 $ 208 $ 207 ======== =========== ============ ========= ============ =========== =========== ======= ========== ========
* Quarterly amounts do not necessarily add to annual amounts due to rounding. - ----------- (a) Includes Ashland's share of a charge ($29 million pretax, $18 million after tax, $.26 per share) for adjustments to MAP's IMV reserve. (b) Includes Ashland's share of income ($29 million pretax, $18 million after tax, $.25 per share) from adjustments to MAP's IMV reserve. (c) Includes a net gain of $1,536 million, or $20.56 per share, from the MAP Transaction and the repayment of most of Ashland's debt with the proceeds.
ASHLAND INC. OPERATING AND NET INCOME SUMMARY* (In millions except per share data - unaudited) Diluted EPS ---------------------------------- Continuing Net Operations Income ---------------- ---------------- Quarter YTD Quarter YTD ------- ------- ------- ------- FISCAL 2001 Quarter ended 12/31/00 $ 0.77 $ 0.77 $ 0.84 $ 0.84 Quarter ended 3/31/01 0.30 1.07 0.66 1.49 Quarter ended 6/30/01 2.76 3.83 2.79 4.28 Quarter ended 9/30/01 1.71 5.54 1.64 5.93 Year ended 9/30/01 - 5.54 - 5.93 FISCAL 2002 Quarter ended 12/31/01 (a) $ 0.52 $ 0.52 $ 0.38 $ 0.38 Quarter ended 3/31/02 (b) (0.33) 0.19 (0.31) 0.08 Quarter ended 6/30/02 0.87 1.06 0.93 1.00 Quarter ended 9/30/02 0.59 1.64 0.68 1.67 Year ended 9/30/02 - 1.64 - 1.67 FISCAL 2003 Quarter ended 12/31/02 $(0.02) $(0.02) $(1.35) $(1.35) Quarter ended 3/31/03 (0.54) (0.56) (0.57) (1.91) Quarter ended 6/30/03 1.03 0.48 1.01 (0.89) Quarter ended 9/30/03 0.89 1.37 1.99 1.10 Year ended 9/30/03 - 1.37 - 1.10 FISCAL 2004 Quarter ended 12/31/03 $ 0.56 $ 0.56 $ 0.49 $ 0.49 Quarter ended 3/31/04 (0.16) 0.39 (0.23) 0.25 Quarter ended 6/30/04 2.35 2.75 2.26 2.53 Quarter ended 9/30/04 2.81 5.59 2.76 5.31 Year ended 9/30/04 - 5.59 - 5.31 FISCAL 2005 Quarter ended 12/31/04 $ 1.28 $ 1.28 $ 1.28 $ 1.28 Quarter ended 3/31/05 0.44 1.72 0.44 1.72 Quarter ended 6/30/05 (c) 23.65 25.48 23.65 25.48 Quarter ended 9/30/05 1.49 26.86 1.48 26.85 Year ended 9/30/05 - 26.86 - 26.85 FISCAL 2006 Quarter ended 12/31/05 $ 0.91 $ 0.91 $ 0.91 $ 0.91 Quarter ended 3/31/06 0.67 1.59 0.67 1.57 Quarter ended 6/30/06 1.29 2.87 1.29 2.86 Quarter ended 9/30/06 Year-to-date 6/30/06 - 2.87 - 2.86
* Quarterly amounts do not necessarily add to annual amounts due to rounding. - ----------- (a) Includes Ashland's share of a charge ($29 million pretax, $18 million after tax, $.26 per share) for adjustments to MAP's IMV reserve. (b) Includes Ashland's share of income ($29 million pretax, $18 million after tax, $.25 per share) from adjustments to MAP's IMV reserve. (c) Includes a net gain of $1,536 million, or $20.56 per share, from the MAP Transaction and the repayment of most of Ashland's debt with the proceeds. EX-99 4 ex99-3.txt EXHIBIT 99.3 EXHIBIT 99.3 (Tables from the Ashland Inc. Fact Sheet as of June 30, 2006, posted to Ashland Inc.'s website on July 28, 2006)
FINANCIAL INFORMATION 2001 2002 2003 2004 2005 YTD-2006 Q3-2006 ------ ------ ------ ------ ------ -------- ------- Sales & Operating Revenues ($, millions) APAC 2,624 2,652 2,400 2,525 2,539 2,053 838 Performance Materials 782 814 875 1,026 1,369 1,068 370 Distribution 2,858 2,541 2,811 3,199 3,810 3,046 1,050 Valvoline 1,064 1,152 1,235 1,297 1,326 1,030 366 Water Technologies 309 316 337 360 394 310 113 Intersegment Sales (93) (85) (92) (106) (168) (129) (46) ------ ------ ------ ------ ------ -------- ------- 7,544 7,390 7,566 8,301 9,270 7,378 2,691 Operating Income ($, millions) APAC 42 111 (57) 94 30 95 68 Performance Materials 5 34 (1) 42 88 94 41 Distribution 17 (15) 12 56 99 95 30 Valvoline 58 56 61 77 59 (6) (10) Water Technologies 7 12 3 14 11 9 9 Refining & Marketing 707 143 263 383 486 - - Unallocated & Other (5) (20) (15) (4) (27) (16) (11) ------ ------ ------ ------ ------ -------- ------- 831 321 266 662 746 271 127
OPERATING INFORMATION 2001 2002 2003 2004 2005 YTD-2006 Q3-2006 ------ ------ ------ ------ ------ -------- ------- APAC Construction backlog ($, millions) 1,629 1,691 1,745 1,746 2,038 1,951 Net construction job revenues ($, millions) 1,547 1,527 1,361 1,433 1,458 1,189 509 Hot-mix asphalt production (million tons) 36.7 36.7 32.5 33.4 31.3 20.7 8.7 Aggregate production (million tons) 28.7 31.0 28.7 29.6 31.4 23.7 8.7 Performance Materials Sales dollars per shipping day ($, millions) 3.1 3.2 3.5 4.0 5.4 5.7 5.9 Pounds sold per shipping day (millions) 4.4 4.7 4.7 5.1 5.4 5.0 5.1 Gross profit as a % of sales 21.8 25.8 22.1 20.4 20.4 23.2 25.0 Distribution Sales dollars per shipping day ($, millions) 11.2 10.1 11.2 12.6 15.1 16.2 16.7 Pounds sold per shipping day (millions) 19.0 17.3 18.2 19.4 19.2 19.0 19.6 Gross profit as a % of sales 8.9 9.7 9.9 9.6 9.7 9.7 9.3 Valvoline Lubricant sales (million gallons) 187.4 199.0 193.5 191.6 175.4 127.8 45.1 Premium lubricants (% of U.S. branded volumes) 11.7 16.1 18.5 21.5 23.4 23.2 22.4 Gross profit as a % of sales 26.5 27.3 27.8 28.2 26.6 21.4 20.2 Water Technologies Sales dollars per shipping day ($, millions) 1.2 1.3 1.3 1.4 1.6 1.6 1.8 Gross profit as a % of sales 49.5 51.2 50.4 49.3 47.8 47.0 45.5
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