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): April 20, 2012

ACME UNITED CORPORATION

(Exact name of registrant as specified in its charter)

__________________

Connecticut	001-07698	06-0236700
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(I.R.S. Employer Identification No.)
60 Round Hill Road, Fairfield, Connecticut		06824
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code:  (203) 254-6060

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))

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ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On April 20, 2012, Acme United Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2012.  A copy of the press release is attached as Exhibit 99.1 to this current report.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(c)           Exhibits

Exhibit Number	Description
99.1	Press release dated April 20, 2012.

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.

ACME UNITED CORPORATION

By	/s/  Walter C. Johnsen
	Walter C. Johnsen Chairman and Chief Executive Officer
Dated:   April 20, 2012
By	/s/  Paul G. Driscoll
	Paul G. Driscoll Vice President and Chief Financial Officer
Dated:   April 20, 2012

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EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release dated April 20, 2012.

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EX-99.1

Exhibit 99.1

ACME UNITED CORPORATION           NEWS RELEASE

CONTACT:	Paul G. Driscoll	Acme United Corporation	60 Round Hill Road	Fairfield, CT  06824
		Phone: (203) 254-6060	FAX: (203) 254-6521

 FOR IMMEDIATE RELEASE   April 20, 2012 

ACME UNITED CORPORATION REPORTS RECORD FIRST QUARTER SALES, EARNINGS PER SHARE DOUBLE

FAIRFIELD, CONN. – April 20, 2012 – Acme United Corporation (NYSE AMEX:ACU) today announced that net sales for the quarter ended March 31, 2012 were $16.9 million, compared to $14.4 million in the first quarter of 2011, an increase of 17%. Excluding the acquisition on February 28, 2011 of the Pac Kit Company, comparable sales increased by 9%.

Net sales for the first quarter of 2012 in the U.S. segment increased 19% compared to the same period in 2011 primarily due to increased sales of the Company’s iPoint pencil sharpeners, Clauss professional cutting tools, and branded first aid products. Net sales in Canada in the first quarter of 2012 decreased 11% in U.S. dollars and 9% in local currency compared to the same period in 2011.  The decrease in Canada was primarily the result of the initial order of a new product line in the first quarter of 2011. European sales in the first quarter of 2012 increased 32% in U.S. dollars and 39% in local currency compared to the first quarter in 2011 due to increased sales in the mass market.

Gross margins were 35.2% in the first quarter of 2012 compared to 36.9% in the first quarter of 2011.  The lower gross margin in the first quarter of 2012 was mainly due to customer and product mix.

Net income was $260,000 or $.08 per diluted share for the quarter ended March 31, 2012 compared to $120,000 or $.04 per diluted share for the comparable period last year.

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Walter C. Johnsen, Chairman and CEO said, “Acme United continued to build its sales and earnings growth in the first quarter. We are now introducing new Westcott cutting tools, Camillus knives, and first aid products which we believe will provide additional platforms for growth.”  Mr. Johnsen added “with our recently established banking relationship at HSBC we are better positioned for acquisitions and other expansion opportunities.”

The Company’s bank debt less cash on March 31, 2012 was $12.8 million compared to $13.2 million on March 31, 2011. During the 12 month period ended March 31, 2012, Acme paid approximately $800,000 in dividends on its common stock and generated $2.2 million in cash flow from operations.

ACME UNITED CORPORATION is a leading worldwide supplier of innovative cutting, measuring and first aid products to the school, home, office, hardware and industrial markets.  Its leading brands include Westcott®, Clauss®, Camillus® PhysiciansCare ® and Pac-Kit ®.

Forward-looking statements in this report, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the following:  (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the impact of current uncertainties in global economic conditions and the ongoing financial crisis affecting the domestic and foreign banking system and financial markets, including the impact on the Company’s suppliers and customers (iii) the Company’s plans and results of operations will be affected by the Company’s ability to manage its growth, and (iv) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

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ACME UNITED CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
FIRST QUARTER REPORT 2012
(unaudited)
	Quarter Ended		Quarter Ended
Amounts in 000's except per share data	March 31, 2012		March 31, 2011
Net sales	$	16,878	$	14,401
Cost of goods sold		10,934		9,093
Gross profit		5,944		5,308
Selling, general, and administrative expenses		5,486		5,125
Income from operations		458		183
Interest expense, net		56		47
Other expense (income), net		42		(24	)
Pre-tax income		360		161
Income tax expense		100		41
Net income	$	260	$	120
Shares outstanding - Basic		3,129		3,075
Shares outstanding - Diluted		3,131		3,105
Earnings per share - basic	$	0.08	$	0.04
Earnings per share - diluted		0.08		0.04

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ACME UNITED CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
FIRST QUARTER REPORT 2012
(Unaudited)
Amounts in $000's
	March 31, 2012		March 31, 2011
Assets
Current assets:
Cash	$	4,078	$	5,102
Accounts receivable, net		14,689		12,711
Inventories		23,634		23,354
Prepaid and other current assets		1,926		1,614
Total current assets		44,327		42,780
Property and equipment, net		2,400		2,376
Long term receivable		1,750		1,825
Intangible assets, less amortization		3,264		3,354
Other assets		1,142		1,032
Total assets	$	52,885	$	51,367
Liabilities and stockholders' equity
Current liabilities
Accounts payable	$	3,541	$	3,379
Other current liabilities		3,437		2,406
Total current liabilities		6,978		5,785
Long-term debt		16,920		18,345
Other non-current liabilities		1,207		1,523
Total liabilities		25,105		25,653
Total stockholders' equity		27,780		25,714
Total liabilities and stockholders' equity	$	52,885	$	51,367

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