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): August 5, 2004

AMERICAN VANGUARD CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	0-6354	95-2588080
(State or other jurisdiction of incorporation)	Commission File Number	(I.R.S. Employer Identification No.)

4695 MacArthur Court

Newport Beach, California 92660

(Address of principal executive offices)

Registrant’s telephone number: (949) 260-1200

Item 7. Exhibits

Exhibit 99.1 Press release issued August 5, 2004 of American Vanguard Corporation announcing its financial results for the three and six months ended June 30, 2004.

Item 12.

The following information is intended to be furnished under Item 12 of Form 8-K, “Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On August 5, 2004, American Vanguard Corporation issued a press release regarding its financial results for the period ended June 30, 2004. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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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.

AMERICAN VANGUARD CORPORATION
	(Registrant)
By:	/s / James A. Barry
	James A. Barry
	Senior Vice President
	Chief Financial Officer

Date: August 5, 2004

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INDEX TO EXHIBITS

Exhibit No.	Description
99.1	Press release dated August 5, 2004, of American Vanguard Corporation announcing its financial results for the period ended June 30, 2004.

4

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

AMERICAN VANGUARD POSTS 21^ST CONSECUTIVE QUARTER OF COMPARABLE PERIOD GROWTH WITH

SECOND QUARTER NET INCOME UP 39% ON 21% SALES INCREASE

Newport Beach, CA – August 5, 2004 – American Vanguard Corporation (AMEX: AVD), today announced financial results for the second quarter and six-month period ended June 30, 2004.

Second Quarter Financial Highlights – versus fiscal 2003 second quarter

• Net sales increased 21% to $31.5 million.

• Operating income rose 79% to $4.3 million.

• Net income grew 39% to $2.4 million (or $.25 per diluted share). Net income of $.19 per diluted share for last year’s period included a non-recurring $.03 from income taxes receivable from the filing of amended tax returns.

First Half Financial Highlights – versus fiscal 2003 first half

• Net sales rose 23% to $65.7 million.

• Operating income grew 83% to $8.2 million.

• Net income increased 56% to $4.6 million (or $.48 per diluted share).

Eric Wintemute, President and CEO of American Vanguard, stated, “The key drivers of our strong results for the quarter were our cotton products, as well as Bifenthrin, the generic pyrethroid product we launched during the first quarter of this year. Based on our initial success with Bifenthrin, we continue to be very optimistic about our prospects for this widely used insecticide.”

James Barry, Senior Vice President and CFO of American Vanguard, commented, “Our operating expenses for the second quarter were slightly lower than in last year’s period, down to 30% of sales from 37% last year. As a result, net income increased at almost twice the growth rate of sales, despite the aforementioned recognition of income taxes receivable in last year’s period. In addition to focusing on controlling costs, we continue to maintain a strong balance sheet. At quarter-end the Company had $44.3 million in working capital, total debt of $37.3 million (including current installments), and shareholders’ equity of $54.0 million, providing a solid support for future growth.”

Mr. Wintemute concluded, “We are extremely proud of the Company’s continued growth, and are confident that we will comfortably achieve our previously announced goal of double-digit sales and net income growth this year. We are also optimistic about American Vanguard’s outlook for 2005 and beyond, based on the diversity and recent performance of our product portfolio, the attractive landscape for acquisition and licensing opportunities, and the manufacturing capacity and financial position we have in place to support future growth.”

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American Vanguard Corporation News Release	Page 2
August 5, 2004

Conference Call

Eric G. Wintemute, President & CEO, and James A. Barry, Senior Vice President & CFO, will conduct a conference call focusing on the financial results at 9:00 am ET on Thursday, August 5, 2004. Interested parties may participate in the call by dialing 913-905-3158 approximately 10 minutes before the call is scheduled to begin. The conference call will also be broadcast live over the Internet via the Investors section of the Company’s web site at www.american-vanguard.com. To listen to the live call please go to the website at least 15 minutes early to register, download and install any necessary audio software. If you are unable to listen live, the conference call will be archived on the Company’s web site.

About American Vanguard

American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection and management, turf and ornamentals management and public and animal health. The Company’s basic strategy is to acquire brand name, niche product lines from larger companies that divest mature products to focus on newly discovered molecules. During 2004, American Vanguard has been recognized as one of BusinessWeek’s Hot Growth Companies (#93) and Fortune Small Business’ America’s 100 Fastest Growing Small Companies (#26). American Vanguard is included on the Russell 2000^® and Russell^® 3000 Indexes. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com.

The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.

CONTACT:	-OR-	AVD’S INVESTOR RELATIONS FIRM
American Vanguard Corporation		The Equity Group Inc.
Eric G. Wintemute, President & CEO		www.theequitygroup.com
James A. Barry, Senior Vice President & CFO		Lauren Barbera
(949) 260-1200		lbarbera@equityny.com
		(212) 836-9610
		Loren G. Mortman
		(212) 836-9604

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American Vanguard Corporation News Release	Page 3
August 5, 2004

American Vanguard Corporation and Subsidiaries

Consolidated Statements of Income

(Unaudited)

	Three months ended June 30,						Six Months Ended June 30,
	2004			2003			2004			2003
Net sales	$	31,492,000		$	25,944,000		$	65,711,000		$	53,286,000
Cost of sales		17,744,000			13,991,000			36,773,000			29,965,000
Gross profit		13,748,000			11,953,000			28,938,000			23,321,000
Operating expenses		9,497,000			9,574,000			20,778,000			18,865,000
Operating income		4,251,000			2,379,000			8,160,000			4,456,000
Interest expense		328,000			308,000			642,000			575,000
Interest income (1)		0			(304,000	)		(1,000	)		(312,000	)
Interest capitalized		(20,000	)		(148,000	)		(35,000	)		(290,000	)
Income before income taxes		3,943,000			2,523,000			7,554,000			4,483,000
Income taxes		1,538,000			798,000			2,946,000			1,534,000
Net income	$	2,405,000		$	1,725,000		$	4,608,000		$	2,949,000
Earnings per common share – basic (2)	$	.27		$	.20		$	.51		$	.34
Earnings per common share – assuming dilution (2)	$	.25		$	.19		$	.48		$	.32
Weighted average shares outstanding – basic (2)		8,972,000			8,741,000			8,968,000			8,739,000
Weighted average shares outstanding – assuming dilution (2)		9,603,000			9,246,000			9,568,000			9,201,000

(1) The interest income for the three and six months ended June 30, 2003, relates to income taxes receivable from the state of California as result of filing amended tax returns for the years ended December 31, 1995 through 1998. The overall after-tax effect of recording the receivable due from California (franchise tax) generated approximately $.03 per diluted share for the three and six months ended June 30, 2003.

(2) Retroactively restated to reflect a 3-for-2 stock split distributed April 16, 2004, to common stockholders of record as of March 26, 2004.

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American Vanguard Corporation News Release	Page 4
August 5, 2004

American Vanguard Corporation and Subsidiaries

Unaudited Condensed Consolidated Balance Sheets

	June 30, 2004		December 31, 2003
Assets
Current Assets:
Cash	$	1,916,000	$	887,000
Receivables		31,465,000		28,197,000
Inventories		39,794,000		33,389,000
Other current assets		1,524,000		1,197,000
Total current assets		74,699,000		63,670,000
Property, plant, equipment, net		25,098,000		21,677,000
Other assets		20,284,000		21,387,000
Total assets	$	120,081,000	$	106,734,000
Liabilities
Current liabilities:
Current installments of long-term debt	$	3,781,000	$	6,374,000
Accounts payable		7,087,000		13,030,000
Other current liabilities		19,496,000		12,642,000
Total current liabilities		30,364,000		32,046,000
Other long-term debt, excluding current installments		8,527,000		7,942,000
Note payable to bank		25,000,000		14,200,000
Other long-term liabilities		2,212,000		2,212,000
Total liabilities		66,103,000		56,400,000
Total stockholders’ equity		53,978,000		50,334,000
Total liabilities and stockholders’ equity	$	120,081,000	$	106,734,000

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American Vanguard Corporation News Release	Page 5
August 5, 2004

2004 Summary Results of Operations

(Unaudited)

	Three months ended March 31		Three months ended June 30
Net sales	$	34,219,000	$	31,492,000
Gross profit		15,190,000		13,748,000
Operating income		3,909,000		4,251,000
Net income	$	2,203,000	$	2,405,000
EPS – basic	$	.25	$	.27
EPS – diluted	$	.23	$	.25
Weighted average shares outstanding		8,963,000		8,972,000
Weighted average shares outstanding – assuming dilution		9,519,000		9,603,000

2003 Summary Results of Operations

(Quarterly Data – Unaudited)

	Three months ended March 31		Three months ended June 30		Three months ended Sept. 30		Three months ended Dec. 31		Fiscal 2003 (Audited)
Net sales	$	27,342,000	$	25,944,000	$	32,948,000	$	38,629,000	$	124,863,000
Gross profit		11,368,000		11,953,000		14,857,000		20,696,000		58,874,000
Operating income		2,077,000		2,379,000		4,709,000		7,377,000		16,542,000
Net income	$	1,224,000	$	1,725,000	$	2,815,000	$	4,499,000	$	10,263,000
EPS – basic	$	.14	$	.20	$	.32	$	.50	$	1.16
EPS – diluted	$	.13	$	.19	$	.30	$	.48	$	1.10
Weighted average shares outstanding		8,739,000		8,741,000		8,825,000		8,940,000		8,811,000
Weighted average shares outstanding – assuming dilution		9,134,000		9,246,000		9,248,000		9,434,000		9,314,000

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