-----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, SUUHKKNpPqin2cE03LIlaiCjhfUncxwO628kBjXUDVHA7PwjW729qJyYqCbqNuFM c/0UOya12LZehlNnnKsMuQ== 0000006176-06-000001.txt : 20060127 0000006176-06-000001.hdr.sgml : 20060127 20060127151053 ACCESSION NUMBER: 0000006176-06-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051231 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20060127 DATE AS OF CHANGE: 20060127 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: 06557408 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 rel8-k1205.txt 8-K FOR PRESS RELEASE RE 2005 RESULTS 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 or earliest event reported) January 27, 2006 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 (Former name or former address, if changed since last report.) 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 (see General Instruction A.21 below): [ ] 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. Disclosure of Results of Operations and Financial Condition. On January 27, 2006, Ampco-Pittsburgh Corporation issued a press release announcing its results for the three and twelve months ended December 31, 2005. 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: January 27, 2006 By: s/Marliss D. Johnson Marliss D. Johnson Vice President Controller and Treasurer EX-1 2 pressrel1205.txt PRESS RELEASE FOR 2005 RESULTS CONTACT: Dee Ann Johnson (412) 456-4410 FOR IMMEDIATE RELEASE PITTSBURGH, PA January 27, 2006. . . . . Ampco-Pittsburgh Corporation (NYSE: AP) announced sales of $69,126,000 and $246,999,000 for the quarter and year ended December 31, 2005, respectively, against $51,506,000 and $202,861,000 for the same periods of the prior year. Net income for the three and twelve months ended December 31, 2005 approximated $8,277,000 or $0.85 per share and $15,036,000 or $1.54 per share, respectively, in comparison to the flood-impaired results of the prior year of $(3,066,000) or $(0.32) per share and $(2,599,000) or $(0.27) per share for the three and twelve months ended December 31, 2004, respectively. In addition to tax benefits realized during the year, the Corporation released valuation allowances previously provided against deferred tax assets primarily of the United Kingdom operation related to net operating loss carryforwards which reduced the Corporation's tax provision and improved net income by approximately $3,600,000 or $0.37 per share for the three and twelve months ended December 31, 2005. The release is due to expectations that future earnings will be sufficient to utilize such loss carryforwards. Income from operations for the quarter and year ended December 31, 2005 approximated $5,401,000 and $14,701,000, respectively, in comparison to losses of $(3,411,000) and $(2,224,000) for the same periods of the prior year. The improvement in sales and operating income reflects the strength of demand by the steel industry throughout the world for the Corporation's forged and cast rolls. Additionally, the fourth quarter of 2004 was impacted by curtailed operations at the principal forged roll finishing plant as a result of flooding. Operating income for 2005 includes $2,320,000 of proceeds from the flood-related business interruption insurance claim which were received during the second quarter of 2005. Backlog of orders for rolls is at an all-time high and while activity levels of the Air & Liquid Processing group are flat, the Corporations' operating income is expected to further improve in 2006. # # # AMPCO-PITTSBURGH CORPORATION FINANCIAL SUMMARY Three Months Ended Dec 31, Year Ended Dec 31, 2005 2004 2005 2004 Sales $ 69,126,000 $ 51,506,000 $246,999,000 $202,861,000 Income (loss) from operations 5,401,000 (3,411,000) 14,701,000 (2,224,000) Other income (expense) - net 251,000 (603,000) 137,000 (359,000) Income (loss) before income taxes 5,652,000 (4,014,000) 14,838,000 (2,583,000) Income tax (benefit) provision (2,625,000) (948,000) (198,000) 16,000 Net income (loss) $ 8,277,000 $ (3,066,000) $ 15,036,000 $(2,599,000) Earnings per common share: Basic $ 0.85 $ (0.32) $ 1.54 $ (0.27) Diluted $ 0.84 $ (0.32) $ 1.53 $ (0.27)
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