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0001102624-07-000145.txt : 20070604
0001102624-07-000145.hdr.sgml : 20070604
20070604101325
ACCESSION NUMBER: 0001102624-07-000145
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20070601
ITEM INFORMATION: Other Events
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20070604
DATE AS OF CHANGE: 20070604
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: FINANCIAL INDUSTRIES CORP
CENTRAL INDEX KEY: 0000035733
STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311]
IRS NUMBER: 742126975
STATE OF INCORPORATION: TX
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-04690
FILM NUMBER: 07895975
BUSINESS ADDRESS:
STREET 1: LEGAL DEPARTMENT
STREET 2: 6500 RIVER PLACE BLVD., BUILDING ONE
CITY: AUSTIN
STATE: TX
ZIP: 78730
BUSINESS PHONE: 512 404-5000
MAIL ADDRESS:
STREET 1: 6500 RIVER PLACE BLVD., BUILDING ONE
STREET 2: LEGAL DEPARTMENT
CITY: AUSTIN
STATE: TX
ZIP: 78730
FORMER COMPANY:
FORMER CONFORMED NAME: GOLDEN UNITED INVESTMENT CO STOCK PLAN
DATE OF NAME CHANGE: 19731128
FORMER COMPANY:
FORMER CONFORMED NAME: ILEX CORP
DATE OF NAME CHANGE: 19730801
FORMER COMPANY:
FORMER CONFORMED NAME: GOLDEN UNITED INVESTMENT CO
DATE OF NAME CHANGE: 19730801
8-K
1
financialindustries.htm
FINANCIAL INDUSTRIES CORPORATION 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.
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Date of Report: June 01, 2007
(Date of earliest event reported)
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Financial Industries Corporation
(Exact name of registrant as specified in its charter)
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TX
(State or other jurisdiction of incorporation)
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0-4690
(Commission File Number)
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74-2126975
(IRS Employer Identification Number)
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6500 River Place Boulevard, Building I
(Address of principal executive offices)
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78730
(Zip Code)
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512-404-5000 (Registrant's telephone number, including area code)
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Not Applicable (Former Name or Former Address, if changed since last report)
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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))
Item 8.01. Other Events
Item 9.01. Financial Statements and Exhibits
(a) Financial statements:
None
(b) Pro forma financial information:
None
(c) Shell company transactions:
None
(d) Exhibits
99.1 Press Release of Financial Industries Corporation dated June 01, 2007
SIGNATURE
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.
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Dated: June 01, 2007
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FINANCIAL INDUSTRIES CORPORATION
By: /s/ William B. Prouty
William B. Prouty
Chief Executive Officer
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Exhibit Index
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Exhibit No. |
Description |
99.1 |
Press Release of Financial Industries Corporation dated June 01, 2007 |
EX-99
2
financialindustriescorp.htm
FINANCIAL INDUSTRIES CORPORATION PRESS RELEASE
Financial Industries Corporation Files 2006 Annual Report, Becomes Current on SEC Form 10-K Submissions
AUSTIN, TX -- 06/01/2007 -- Financial Industries Corporation (PINKSHEETS: FNIN) today announced that it had filed its annual report on Form 10-K for
the year ended Dec. 31, 2006, bringing the company current on its Form 10-K
filings.
"The filing of our 2006 Form 10-K marks the culmination of a multi-year
effort to ensure that FIC's financial results are reported on both an
accurate and timely basis," said Bill Prouty, FIC's chief executive
officer. "With this project complete, our management team can now turn its
full attention to growing and effectively managing our business. We are
excited by the strategic opportunities FIC is pursuing and see tremendous
potential for the company in coming months."
In analyzing the company's results of operations, a separation of results
between continuing and discontinued operations provides a meaningful view.
Net losses for 2006, 2005, and 2004 were $24.8 million, $165,000, and $14.3
million, respectively. In December 2006, FIC sold its Family Life
subsidiary, resulting in a loss from discontinued operations totaling $25.5
million, which consists of a $1.1 million loss on operations during the
year and a $24.4 million loss on the sale. Losses from discontinued
operations were $1.1 million in 2005 and $2.5 million in 2004.
Income from continuing operations totaled $715,000 in 2006 and was $942,000
a year earlier. FIC's loss from continuing operations was $12.1 million in
2004. The company also recorded income resulting from a cumulative effect
of change in accounting principle of $229,000 in 2004.
A summary of the company's results of operations is as follows:
Year Ended December 31,
--------------------------------
2006 2005 2004
--------- --------- ---------
(In millions)
Income (loss) from continuing
operations $ 0.7 $ 0.9 $ (12.1)
Loss from discontinued
operations (1.1) (1.1) (2.5)
Loss from sale of discontinued
operations (24.4) - -
Net loss (24.8) (0.2) (14.3)
This full report can be accessed for free at www.ficgroup.com or
www.sec.gov.
FIC, through its Investors Life Insurance Company of North America
subsidiary, markets and underwrites individual life insurance products. For
more information on FIC, go to http://www.ficgroup.com on the Internet.
Statements in this document relating to future developments, disclosures
and other statements that are not historical facts are forward-looking
statements. Actual results may differ materially from these forward-looking
statements as a result of market conditions, the timing and results of
FIC's audits, reviews and filings with regulatory bodies, the interest of
and actions by third parties engaging in transactions with FIC and other
factors contained in FIC's Form 10-K for the year ended Dec. 31, 2006, and
other filings with the SEC.
Contact Information:
Financial Industries Corporation
Shannon Coffin
Phone: 512-404-5128
E-mail: ir@ficgroup.com
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