-----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, HoGc6Ks3tShyp85kqQd7rdkK1OM/PXtUGSfurR67YqTOIrRML9QvZ/kvgS3kg9HK LsmDIrgApL5R+aMjO4gvCA== 0000006176-04-000005.txt : 20040720 0000006176-04-000005.hdr.sgml : 20040720 20040720164202 ACCESSION NUMBER: 0000006176-04-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040630 ITEM INFORMATION: Other events FILED AS OF DATE: 20040720 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMPCO PITTSBURGH CORP CENTRAL INDEX KEY: 0000006176 STANDARD INDUSTRIAL CLASSIFICATION: PUMPS & PUMPING EQUIPMENT [3561] IRS NUMBER: 251117717 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00898 FILM NUMBER: 04922480 BUSINESS ADDRESS: STREET 1: 600 GRANT ST STE 4600 CITY: PITTSBURGH STATE: PA ZIP: 15219 BUSINESS PHONE: 4124564400 FORMER COMPANY: FORMER CONFORMED NAME: SCREW & BOLT CORP OF AMERICA DATE OF NAME CHANGE: 19710518 8-K 1 june048k.txt 8-K FOR JULY 20, 2004 PRESS RELEASE 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 or earliest event reported) July 20, 2004 AMPCO-PITTSBURGH CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 1-898 25-1117717 (State or other (Commission file number) (I.R.S. Employer jurisdiction Identification of incorporation) Number) 600 Grant Street Pittsburgh, PA 15219 (Address of principal (Zip Code) executive offices) Registrant's telephone number, including area code: (412) 456- 4400 Item 12. Disclosure of Results of Operations and Financial Condition. On July 20, 2004, Ampco-Pittsburgh Corporation issued a press release announcing its results for the three and six months ended June 30, 2004. A copy of the press release is attached hereto and is being furnished to the SEC. 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 hereunto duly authorized. AMPCO-PITTSBURGH CORPORATION Date: July 20, 2004 By: s/Ernest G. Siddons Ernest G. Siddons President EX-1 2 june2004release.txt EARNINGS FOR SECOND QUARTER 2004 CONTACT: Ronald W. Hasek (412) 456-4459 FOR IMMEDIATE RELEASE PITTSBURGH, PA July 20, 2004. . . . . Ampco-Pittsburgh Corporation (NYSE: AP) had sales of $53,646,000 and $100,432,000 for the three and six months ended June 30, 2004, respectively, against sales of $45,495,000 and $89,025,000 for the comparable prior year periods. Net income for the three months ended June 30, 2004 and 2003 was $840,000 or $0.09 per share and $391,000 or $0.04 per share and for the six months ended June 30, 2004 and 2003 was $2,048,000 or $0.21 per share and $588,000 or $0.06 per share, respectively. Income from operations approximated $1,571,000 and $3,193,000 for the three and six months ended June 30, 2004 against $1,507,000 and $2,197,000 for the comparable prior year periods. Amounts for 2003 are after the reclassification of results for the Plastics Processing Machinery segment to discontinued operations, which was sold in August 2003. During the three and six months of 2004, the Corporation incurred pre-tax legal costs of approximately $223,000 and $728,000, respectively, for case management and insurance recovery relating to lawsuits filed in connection with asbestos-containing products manufactured decades ago in comparison to $669,000 and $1,273,000 for the same periods of the prior year. Although sales improved significantly in the quarter, margins of the Forged and Cast Rolls segment were adversely impacted by unprecedented increases in the cost of steel scrap, alloys and natural gas. Selling price surcharges have been imposed on incoming orders; however, the level of order backlog is such that it will be towards year end before the escalation in costs will begin to be recovered. In addition, the U.K. operation was further impacted by one-time operational problems resulting in losses for the quarter. Despite increased sales, the results of the Air and Liquid Processing segment, after adjustment for the reduction in the asbestos-related costs mentioned above, were close to flat with those of the same quarter in 2003 and are reflective of competitive pressures on prices as demand in the construction and energy sectors remains weak. The outlook for the balance of the year is for continued weakness in both segments. The financial condition of the Corporation remains strong. # # # AMPCO-PITTSBURGH CORPORATION FINANCIAL SUMMARY Three Months Ended June 30, Six Months Ended June 30, 2004 2003 2004 2003 Sales $53,646,000 $45,495,000 $100,432,000 $ 89,025,000 Income from operations 1,571,000 1,507,000 3,193,000 2,197,000 Other income (expense)-net 86,000 (155,000) 268,000 (401,000) Income before income taxes 1,657,000 1,352,000 3,461,000 1,796,000 Income tax provision 817,000 777,000 1,413,000 1,069,000 Net income from continuing operations 840,000 575,000 2,048,000 727,000 Discontinued operations: Loss from operations - (271,000) - (189,000) Income tax benefit - (87,000) - (50,000) - (184,000) - (139,000) Net income $ 840,000 $ 391,000 $ 2,048,000 $ 588,000 Basic and diluted earnings per share: Net income from continuing operations $ 0.09 $ 0.06 $ 0.21 $ 0.08 Net loss from dis- continued operations $ - $ (0.02) $ - $ (0.02) Net income $ 0.09 $ 0.04 $ 0.21 $ 0.06
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