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):  June 23, 2004

Summa Industries

(Exact name of registrant as specified in its charter)

Delaware	1-7755	95-1240978
(State or other jurisdiction of incorporation)	(Commission file number)	(I.R.S. employer identification number)
21250 Hawthorne Boulevard, Suite 500, Torrance, California 90503
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code:  (310) 792-7024
Not Applicable
(Former name or former address, if changed since last report)

Item 12.Results of Operations and Financial Condition.

On June 23, 2004, Summa Industries (the “Company”) issued a news release reporting the financial results of the Company for its fiscal third quarter ended May 31, 2004.  A copy of the news release is attached to this Current Report as Exhibit 99.1.

The information in this Current Report, including the exhibit attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section.  The information in this Current Report, including the exhibit attached hereto, shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 7.Exhibits.

(c)Exhibits.

Exhibit	Description
99.1	News Release of the Company Regarding Third Quarter Financial Results

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.

	SUMMA INDUSTRIES,
	a Delaware corporation
Date:  June 23, 2004	By:	/s/ James R. Swartwout
		James R. Swartwout
		President

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EX-99.1

EXHIBIT 99.1

NEWS RELEASE

June 23, 2004

Torrance, California

Summa Reports 3^rd Quarter Earnings

Summa Industries (Nasdaq NM:SUMX) reports net income of $1,390,000, or $.30 per share, on sales of $33,160,000 for the three months ended May 31, 2004, versus net income of $768,000, or $.13 per share, on sales of $28,342,000 for the three months ended May 31, 2003.

	Three months ended
	May 31, 2004		May 31, 2003
Sales	$	33,160,000	$	28,342,000
Net income	$	1,390,000	$	768,000
Diluted earnings per share	$	.30	$	.13

A conference call to discuss the results will be held at 9:00 a.m., Pacific Time, Wednesday, June 23.  The call-in number is (800) 838-4403.  The conference call will also be simulcast and archived by www.vcall.com.

Summa Industries manufactures proprietary engineered plastic products for a broad spectrum of industrial and commercial markets.  The Company has manufacturing facilities across North America.  Products, many of which are unique or patented, are shipped to customers worldwide.

For further information, contact Jim Swartwout, (310) 792-7024; Fax (310) 792-7079; www.summaindustries.com; or ir@summaindustries.com.

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Summa Industries

CONDENSED CONSOLIDATED BALANCE SHEETS

	May 31, 2003		August 31, 2003		May 31, 2004
ASSETS
Current assets:
Cash and cash equivalents	$	52,000	$	380,000	$	680,000
Accounts receivable	17,222,000		15,729,000		19,895,000
Inventories	12,572,000		11,645,000		13,306,000
Prepaid expenses and other	2,825,000		2,710,000		3,098,000
Total current assets	32,671,000		30,464,000		36,979,000
Property, plant and equipment, net	26,647,000		26,112,000		28,474,000
Goodwill and other assets, net	12,463,000		11,940,000		11,818,000
Total assets	$	71,781,000	$	68,516,000	$	77,271,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	6,491,000	$	5,302,000	$	7,365,000
Accrued liabilities	5,680,000		5,015,000		5,769,000
Current maturities of long-term debt	4,133,000		3,896,000		1,957,000
Total current liabilities	16,304,000		14,213,000		15,091,000
Long-term debt, net of current maturities	18,284,000		16,219,000		30,337,000
Other long-term liabilities	2,635,000		2,601,000		2,577,000
Manditorily redeemable convertible preferred stock	5,919,000		6,103,000		—
Minority interest in subsidiary	—		—		205,000
Total stockholders’ equity	28,639,000		29,380,000		29,061,000
Total	$	71,781,000	$	68,516,000	$	77,271,000

Summa Industries

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Three months ended				Nine months ended
	May 31, 2003		May 31, 2004		May 31, 2003			May 31, 2004
Net sales	$	28,342,000	$	33,160,000	$	84,452,000		$	85,631,000
Cost of sales	21,339,000		25,096,000		63,296,000			64,907,000
Gross profit	7,003,000		8,064,000		21,156,000			20,724,000
Selling, general, administrative and other expenses	5,481,000		5,609,000		16,094,000			15,467,000
Operating income	1,522,000		2,455,000		5,062,000			5,257,000
Interest expense	389,000		321,000		1,167,000			1,210,000
Income before income taxes and cumulative effect of a change in accounting principle	1,133,000		2,134,000		3,895,000			4,047,000
Provision for income taxes	365,000		744,000		1,285,000			1,374,000
Income before cumulative effect of a change in accounting principle	768,000		1,390,000		2,610,000			2,673,000
Cumulative effect of a change in accounting principle	—		—		(22,343,000		)	—
Net income (loss)	$	768,000	$	1,390,000	$	(19,733,000	)	$	2,673,000
Preferred stock accretion	$	184,000	$	81,000	$	553,000		$	450,000
Net income (loss) available to common stockholders:
before cumulative effect of a change in accounting principle	$	584,000	$	1,309,000	$	2,057,000		$	2,223,000
after cumulative effect of a change in accounting principle	$	584,000	$	1,309,000	$	(20,286,000	)	$	2,223,000
Earnings per common share before cumulative effect of a change in accounting principle
Basic	$	.14	$	.31	$	.47		$	.52
Diluted	$	.13	$	.30	$	.46		$	.51
Earnings (loss) per common share after cumulative effect of a change in accounting principle
Basic	$	.14	$	.31	$	(4.61	)	$	.52
Diluted	$	.13	$	.30	$	(4.61	)	$	.51
Weighted average common shares outstanding
Basic	4,304,000		4,234,000		4,397,000			4,297,000
Diluted	4,379,000		4,310,000		4,495,000			4,372,000

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