-----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, DtlBK3kxMTHOK18ffqjfzyty8IPoZJ3Tawhj+rHx/3AfdTruCYXa/hwJW2GEkIUy wGzPtORGA8umr9sNW3rfIA== 0001193125-09-155758.txt : 20090727 0001193125-09-155758.hdr.sgml : 20090727 20090727153627 ACCESSION NUMBER: 0001193125-09-155758 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090724 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090727 DATE AS OF CHANGE: 20090727 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN VANGUARD CORP CENTRAL INDEX KEY: 0000005981 STANDARD INDUSTRIAL CLASSIFICATION: AGRICULTURE CHEMICALS [2870] IRS NUMBER: 952588080 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13795 FILM NUMBER: 09964507 BUSINESS ADDRESS: STREET 1: 4695 MACARTHUR COURT CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 9492601200 MAIL ADDRESS: STREET 1: 4695 MACARTHUR COURT CITY: NEWPORT BEACH STATE: CA ZIP: 92660 FORMER COMPANY: FORMER CONFORMED NAME: AEROCON INC DATE OF NAME CHANGE: 19720620 8-K 1 d8k.htm FORM 8-K Form 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): July 24, 2009

 

 

AMERICAN VANGUARD CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-13795   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

 

 

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))

 

 

 


Item 2.02 Results of Operations and Financial Condition

On July 24, 2009 American Vanguard Corporation issued a press release announcing preliminary financial results for the quarter ended June 30, 2009. The full text of that press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained in this Current Report on Form 8-K, including the Exhibit attached hereto, is being furnished under Items 2.02 and 9.01 and 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.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 99.1    Press release dated July 24, 2009 of American Vanguard Corporation.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, American Vanguard Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  AMERICAN VANGUARD CORPORATION
Date: July 27, 2009    
  By:  

/s/    Timothy J. Donnelly

    Timothy J. Donnelly
    Vice President, General Counsel & Secretary


INDEX TO EXHIBITS

 

Exhibit No.

 

Description

Exhibit 99.1

  Press release of American Vanguard Corporation dated July 24, 2009.
EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

LOGO

FOR IMMEDIATE RELEASE

American Vanguard Corporation Announces Lower than Expected Sales and Earnings for the Second Quarter 2009

Newport Beach, CA – July 24, 2009 – American Vanguard Corporation (NYSE:AVD) announced today that its second quarter operating and financial performance has been negatively impacted by recent adverse agricultural industry trends. Delayed and reduced order placement from growers has caused many retail and distributor channels to embrace strict inventory control and adopt a “buy-only-as-needed” purchasing practice. This shrinkage of demand in the distribution inventory pipeline has been the most significant factor influencing American Vanguard’s second quarter sales volumes.

The Company’s sales were also affected by the second consecutive year of poor Midwest corn planting weather. Quarterly earnings were adversely impacted by both the start-up costs of a new manufacturing process and a production scale-back done for the purpose of inventory management which resulted in a lower absorption of overhead costs. As a result of these factors, American Vanguard’s sales for the second quarter will be below those for the second quarter of 2008, and initial analysis indicates an earnings level near “break-even”.

While the Company is not providing guidance for the balance of 2009, it should be noted that the product mix of its business changes in the second half of the year to an emphasis on soil fumigants, foliar insecticides and non-agricultural uses such as mosquito control. American Vanguard is a well-positioned market leader in these applications and will continue to pursue important initiatives in corn yield enhancement, professional pest management and international expansion.

American Vanguard expects to release its quarterly results on Thursday, August 6, 2009. Eric Wintemute, President and CEO, Trevor Thorley, EVP & COO and David T. Johnson, CFO, will be conducting a conference call that day to elaborate on the details of the Company’s performance. At that time the Company will discuss its cost reduction programs, a continuing Sales & Marketing reorganization, current product development pursuits, and new manufacturing efficiency improvements.

Conference call information:

 

Date:    Thursday, August 6, 2009
Time:    12:00 pm EDT / 9:00 am PDT
Dial-in number:    706-679-3155 (please call in 10 minutes before the call is scheduled to begin)
Conference call ID:    22123273
Webcast:    www.american-vanguard.com


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. American Vanguard is included on the Russell 2000® & Russell 3000® Indexes and the Standard & Poors 600 Index. 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 the conference call referenced 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:   
American Vanguard Corporation    The Equity Group Inc.
William A. Kuser, Director of Investor Relations    www.theequitygroup.com
(949) 260-1200    Lena Cati (212) 836-9611
williamk@amvac-chemical.com    Lcati@equityny.com
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