-----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, NqslX6+A7iAhKnqZZJL4vytVuzyrrZNqrrLUR+6eLzM4RgW7B8zBWgecZc2zGjdA ggvPxF4Go+4Yhj4qJCuNtw== 0000356446-03-000014.txt : 20030717 0000356446-03-000014.hdr.sgml : 20030717 20030717155752 ACCESSION NUMBER: 0000356446-03-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030717 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PURE WORLD INC CENTRAL INDEX KEY: 0000356446 STANDARD INDUSTRIAL CLASSIFICATION: INVESTORS, NEC [6799] IRS NUMBER: 953419191 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-10566 FILM NUMBER: 03791340 BUSINESS ADDRESS: STREET 1: P O BOX 74 STREET 2: 376 MAIN ST CITY: BEDMINSTER STATE: NJ ZIP: 07921 BUSINESS PHONE: 9082349220 MAIL ADDRESS: STREET 1: P O BOX 74 STREET 2: 376 MAIN STREET CITY: BEDMINSTER STATE: NJ ZIP: 07921 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN HOLDINGS INC /DE/ DATE OF NAME CHANGE: 19940411 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER MEMORIES INC /DE/ DATE OF NAME CHANGE: 19940411 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER MEMORIES INC DATE OF NAME CHANGE: 19920908 8-K 1 purw8k2nd03.txt 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 17, 2003 Pure World, Inc. ---------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware -------------------------------------------------- (State or other jurisdiction of Incorporation) 0-10566 95-3419191 ----------- ----------------- (Commission File Number) (IRS Employer Identification Number) 376 Main Street, P.O. Box 74, Bedminster, New Jersey 07921 ---------------------------------------------------------------- (Address of Principal Executive Offices, Zip Code) 908-234-9220 --------------------------------------------------- (Registrant's Telephone Number, including area code) Not Applicable --------------------------------------- (Former name of former addresses, if changed since last report) Item 7. Financial Statements and Exhibits (c) Exhibits Exhibit No. Exhibit ----------- ------- 99.1 Press Release of Pure World, Inc. dated July 17, 2003. Item 9. Regulation FD Disclosure (including Item 12. Results of Operations and Financial Condition). On July 17,2003, Pure World, Inc. issued a press release reporting earnings and other financial results for its second quarter of 2003, which ended June 30, 2003. A copy of the press release is attached as Exhibit 99.1. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Pure World, Inc. July 17, 2003 /s/ Sue Ann Merrill ---------------------------- Sue Ann Merrill Vice President (Principal Financial and Accounting Officer) EX-99 3 prerel2nd03.txt Exhibit 99.1 July 17, 2003 Direct Inquiries To: Paul O. Koether, Chairman (908) 234-9220 PURE WORLD ANNOUNCES SECOND QUARTER RESULTS ------------------------------------------- BEDMINSTER, NEW JERSEY - PURE WORLD, INC., (PURW - NASDAQ) today announced that revenues for the quarter ended June 30, 2003 were $4,493,000 with a net loss of $383,000 ($.05 per share) compared to revenues of $4,299,000 with a net loss of $485,000 ($.06 per share) for the quarter ended June 30, 2002. For the six months ended June 30, 2003, revenues were $12,066,000 with net income of $309,000 ($.04 per share) compared to revenues of $7,931,000 and a net loss of $1,079,000 ($.13 per share) for the six months ended June 30, 2002. Paul Koether, Pure World's Chairman, described the second quarter as disappointing. One of Pure World's customers is no longer manufacturing a product containing Pure World extracts. A significant purchase of another product has been deferred until the fall and several customers have deferred purchases because of excess inventories. Pure World continues to pick up new customers but that process generally entails some delay while samples are being approved. Pure World has 7,513,624 shares of common stock outstanding. This Press Release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Pure World cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date. The per share earnings in the text of this news release are diluted earnings per share. PURE WORLD, INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2003 AND 2002 (in thousands, except per share data) (UNAUDITED) Three Months Ended Six Months Ended June 30, June 30, --------------------- --------------------- 2003 2002 2003 2002 -------- -------- -------- -------- Revenues: Sales $ 4,488 $ 4,285 $ 11,954 $ 7,875 Net gains on marketable securities - - - 28 Interest and other income 5 14 112 28 -------- -------- -------- -------- Total revenues 4,493 4,299 12,066 7,931 -------- -------- -------- -------- Expenses: Cost of goods sold 3,797 3,755 9,223 6,876 Selling, general and administrative 1,115 1,029 2,431 2,134 -------- -------- -------- -------- Total expenses 4,912 4,784 11,654 9,010 -------- -------- -------- -------- Income (loss) before income taxes ( 419) ( 485) 412 ( 1,079) Provision (benefit) for income taxes ( 36) - 103 - -------- -------- -------- -------- Net income (loss) ($ 383) ($ 485) $ 309 ($ 1,079) ======== ======== ======== ======== Basic and diluted net income (loss) per share ($ .05) ($ .06) $ .04 ($ .13) ======== ======== ======== ========
CONSOLIDATED CONDENSED BALANCE SHEET June 30, 2003 (in thousands) (UNAUDITED) Cash and cash equivalents $ 1,413 Accounts receivable, net 2,648 Inventories 7,605 Other 594 -------- Total current assets 12,260 Plant and equipment, net 7,588 Investment in unaffiliated natural products company 1,510 Goodwill 1,144 Other assets 660 -------- Total assets $ 23,162 ======== Current liabilities $ 5,495 Long-term debt 1,439 -------- Total liabilities 6,934 Stockholders' equity 16,228 -------- Total liabilities and stockholders' equity $ 23,162 ======== -----END PRIVACY-ENHANCED MESSAGE-----