-----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, Db2uwfacTThJqXwPrbcp5oTfxQ5TgCFybsVF6RyNny3qMzSL23v6bOFeEu1uKk/L tVRsLY2aJNffMzPtK1EIIQ== 0000025793-11-000002.txt : 20110111 0000025793-11-000002.hdr.sgml : 20110111 20110111121730 ACCESSION NUMBER: 0000025793-11-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110110 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20110111 DATE AS OF CHANGE: 20110111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CROSS A T CO CENTRAL INDEX KEY: 0000025793 STANDARD INDUSTRIAL CLASSIFICATION: PENS, PENCILS & OTHER ARTISTS' MATERIALS [3950] IRS NUMBER: 050126220 STATE OF INCORPORATION: RI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06720 FILM NUMBER: 11522007 BUSINESS ADDRESS: STREET 1: ONE ALBION RD CITY: LINCOLN STATE: RI ZIP: 02865 BUSINESS PHONE: 4013331200 MAIL ADDRESS: STREET 1: ONE ALBION ROAD CITY: LINCOLN STATE: RI ZIP: 02865 8-K 1 form8kjan102011.htm FORM 8-K ITEM 2.02 JAN 10 2011 form8kjan102011.htm
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)  January 10, 2011
 
A. T. CROSS COMPANY
(Exact name of registrant as specified in its charter)


Rhode Island
(State or other jurisdiction
of incorporation)
1-6720
(Commission
File Number)
05-0126220
(IRS Employer
Identification No.)
One Albion Road, Lincoln, Rhode Island
(Address of principal executive offices)
02865
(Zip Code)
Registrant's telephone number, including area code  (401) 333 1200
 
N/A
(Former name or former address if changed since last report.)

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:

o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
     
o
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
     
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 
 

 

Section 2 - Financial Information

Item 2.02 - Results of Operations and Financial Condition.

On January 10, 2011, A.T. Cross Company issued a News Release to announce preliminary 2010 financial results and certain forward looking financial information.  A copy of the News Release is attached hereto as Exhibit 99, which is incorporated herein by reference.

Section 9 - Financial Statements and Exhibits

Item 9.01 - Financial Statements and Exhibits

(d) Exhibits

Exhibit No.
Exhibit
99
Press Release


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.

 
A. T. CROSS COMPANY
(Registrant)
Date:  January 11, 2011
KEVIN F. MAHONEY
(Kevin F. Mahoney)
Senior Vice President, Finance
Chief Financial Officer


EX-99 2 exhibit99.htm FORM 8-K ITEM 9.01 (C) EXHIBIT 99 exhibit99.htm
Exhibit 99

C R O S S
 
News Release
Company Contact:
Kevin F. Mahoney
Senior Vice President, Finance and
Chief Financial Officer
401-335-8470
 
Investor Relations:
Dave Mossberg
Three Part Advisors, LLC
817-310-0051


FOR IMMEDIATE RELEASE

A.T. CROSS COMPANY ANNOUNCES PRELIMINARY 2010 FINANCIAL
RESULTS AND 2011 EPS GUIDANCE

·  
Expects to exceed 2010 EPS guidance of $0.45
·  
2010 Revenue Growth 12%
·  
2011 EPS guidance of between $0.55 and $0.59


LINCOLN, Rhode Island, January 10, 2011 – A.T. Cross Company (NASDAQ: ATX) today announced that it will modestly exceed its previously released 2010 earnings per share guidance of $0.45.  The company earned $0.13 per share in 2009.  Preliminary results also showed sales growth in 2010 was 12%, with the Cross Optical Group growing 19% and the Cross Accessory Division growing 8%.  Complete 2010 results will be released on February 23, 2011.

The Company is providing earnings per share guidance for 2011 of between $0.55 and $0.59.

Commenting on a successful 2010 and the positive outlook, David G. Whalen, President and Chief Executive Officer of A.T. Cross said, “Both of our operating segments finished the year with momentum.  We were highly focused in 2010 on continuing to invest in Costa, whose growth demonstrates the great potential of the brand: and shaping the Native Eyewear brand to set it up to build scale.  In addition, we restored revenue growth to the Cross brand and are benefitting from the operating leverage provided by its reduced cost structure.  We have managed our balance sheet very well which allowed us to repurchase 19% of our outstanding shares between December 2009 and December 2010.  I am very confident that we have growth strategies in place that will continue to reward our shareholders.”

The Company’s preliminary 2010 results and certain forward looking information will be presented at the following January 2011 investor conferences:

·  
Cowen and Company 9th Annual Consumer Conference in New York on Tuesday, January 11, 2011 at 1:00 pm EST
·  
13th Annual Needham Growth Conference in New York on Thursday, January 13, 2011 at 2:50 pm EST

The presentations will be webcast live and may be accessed under the investor relations section of the Company’s website, www.cross.com.  The webcasts can also be found on the Cowen and Company website, www.cowen.com and the Needham Company website, www.needhamco.com.

About A.T. Cross Company

Building on the rich tradition of its award-winning writing instruments and reputation for innovation and craftsmanship, A.T. Cross Company is a designer and marketer of branded personal and business accessories. A.T. Cross provides a range of distinctive products that appeal to a growing market of consumers seeking to enhance their image and facilitate their lifestyle. A.T. Cross products, including award-winning quality writing instruments, timepieces, business accessories and Costa and Native Eyewear premium sports sunglasses, are distributed in retail and corporate gift channels worldwide. For more information, visit the A.T. Cross website at www.cross.com, the Costa website at www.costadelmar.com and the Native Eyewear website at www.nativeyewear.com.

Statements contained in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (including but not limited to statements relating to the expected sales and adjusted earnings performance for 2010 as well as initial guidance for 2011).  In addition, words such as "believes," "anticipates," "expects," and similar expressions are intended to identify forward-looking statements.  These forward-looking statements are subject to risks and uncertainties, including but not limited to the possibility that unexpected factors relating to 2010 are discovered and the ability of the Company to deliver on 2011 expectations and are not guarantees since there are inherent difficulties in predicting fu ture results.  Actual results could differ materially from those expressed or implied in the forward-looking statements.  The information contained in this document is as of January 7, 2010.  The Company assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments.  Additional discussion of factors that could cause actual results to differ materially from management's expectations is contained in the Company's filings under the Securities Exchange Act of 1934.

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