-----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, KJTTjSAGeFXFTTew6byXc8/1FB66+DxHyUkNzLJatM6+fw5PMJrC2G24nFi3f1c1 oRd+Ge0V7T1e8CVoqYgSRw== 0001157523-05-002796.txt : 20050324 0001157523-05-002796.hdr.sgml : 20050324 20050324080023 ACCESSION NUMBER: 0001157523-05-002796 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050323 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year FILED AS OF DATE: 20050324 DATE AS OF CHANGE: 20050324 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERON INTERNATIONAL CORP CENTRAL INDEX KEY: 0000790730 STANDARD INDUSTRIAL CLASSIFICATION: CONCRETE GYPSUM PLASTER PRODUCTS [3270] IRS NUMBER: 770100596 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09102 FILM NUMBER: 05700299 BUSINESS ADDRESS: STREET 1: 245 S LOS ROBLES AVE CITY: PASADENA STATE: CA ZIP: 91101 BUSINESS PHONE: 6266834000 MAIL ADDRESS: STREET 1: 245 S LOS ROBLES AVE CITY: PASADENA STATE: CA ZIP: 91101 FORMER COMPANY: FORMER CONFORMED NAME: AMERON INC/DE DATE OF NAME CHANGE: 19920703 8-K 1 a4849283.txt AMERON 8-K 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): 3-23-05 AMERON INTERNATIONAL CORPORATION (Exact name of Registrant as Specified in its Charter) Delaware 1-9102 77-0100596 (State or other jurisdiction (Commission (IRS Employer of Incorporation) File No.) Identification Nol.) 245 South Los Robles Ave., Pasadena, California 91101 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (626) 683-4000 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: / / Written communications pursuant to Rule 425 under the Securities Act (17 CFG 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 CFT240.14d-2(b)) / / Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e4(c)) Item 5.02(b) - Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. 1. Director John F. King retired effective March 23, 2004. 2. Director Thomas L. Lee did not stand for re-election. Item 5.03 - Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Effective March 23, 2005 Ameron International Cororation (the "Company") amended the By-laws to reduce the number of directors to seven (7) from (9). Item 2.02 - Results of Operations and Financial Condition On March 23, 2005, the Company issued a press release regarding the Company's results of operations for the first quarter ended February 27, 2005. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this report, including the exhibit attached hereto, is being furnished pursuant to Item 2.02 and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities thereunder. The information in this report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD OR Item 12. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Cautionary statement for purposes of the 'Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995: Any statements in this report that refer to the exhibit attached hereto, that refer to the estimated or anticipated future results of the Registrant are forwarded-looking and reflect the Registrant's current analysis of existing trends and information. Actual results may differ from current expectations based on a number of factors affecting the Registrant's businesses, including competitive conditions and changing market situations. Matters affecting the economy generally, including the state of economies worldwide, can also affect the Registrant's results. Forward-looking statements represent the Registrant's judgment only as of the date of this report. Since actual results could differ materially from such statements, the reader is cautioned not to rely on these forward-looking statements. Moreover, the Registrant disclaims any intent or obligation to update these forward-looking statements. 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 thereunto duly authorized. AMERON INTERNATIONAL CORPORATION Date: March 23, 2005 By: /s/ Javier Solis ---------------- Javier Solis Senior Vice President & Secretary EX-99.1 2 a4849283ex99.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 Ameron Reports First-Quarter Improvement PASADENA, Calif.--(BUSINESS WIRE)--March 23, 2005--Ameron International Corporation (NYSE:AMN) today reported earnings of $.06 per diluted share on sales of $138.8 million for the first quarter ended February 27, 2005. Ameron lost $.34 per diluted share on sales of $129.7 million in the quarter ended February 29, 2004. Significant profit improvements by the Water Transmission and Infrastructure Products Groups were partially offset by lower profits from the Fiberglass-Composite Pipe Group and a larger loss from the Performance Coatings & Finishes Group. Income from TAMCO, Ameron's 50%-owned steel mill in California, was slightly higher in the first quarter of 2005. "The first quarter of 2005 was substantially improved over last year when labor disputes disrupted operations," commented James S. Marlen, Ameron's Chairman, President and Chief Executive Officer. "Both the Water Transmission and Infrastructure Products Groups started the year strongly in spite of record wet weather in Southern California. The Fiberglass-Composite Pipe Group also continued to perform well in the first quarter." Although wet weather slowed operations, the Water Transmission Group returned to a traditional level of sales and profits in the first quarter of 2005. The Group had a slight loss on lower sales in the first quarter of 2004 due to strikes at two plants in Southern California. The Water Transmission Group entered 2005 with a relatively large backlog, and the forecast remains positive due to the backlog of orders. The Fiberglass-Composite Pipe Group's sales and segment income declined in the first quarter of 2005 due to the timing of projects and mixed market conditions. Sales of piping for industrial and fuel-handling applications, supplied by Ameron's operations in the U.S. and Europe, were lower. Partially offsetting the decline were higher sales of onshore oilfield piping and marine piping supplied by Asian operations. Profits declined due to lower sales. The backlog is robust, and the forecast for the Fiberglass-Composite Pipe Group remains positive, driven by high oil prices, the strength of marine and offshore markets and the high cost of competitive steel tubing. The Performance Coatings & Finishes Group had a larger loss in the first quarter of 2005 than in the first quarter of 2004, on lower sales. Sales of industrial and marine coatings into U.S. and European markets declined due to continued sluggish demand. Additionally, the increasing strength of the euro and the British pound impacted the competitiveness of Ameron's operations in the Netherlands and the U.K., reducing sales into dollar-based markets in the Middle East, North Africa and Eastern Europe. Sales in the U.S. were down due in part to the loss of a contract to supply coatings to the U.S. Navy. Losses increased due to lower sales, higher raw material costs and plant inefficiencies. The outlook for this business is uncertain as chemical and industrial markets served by the Group have not shown signs of recovery. The Infrastructure Products Group had significantly higher sales and profits in the first quarter of 2005, compared to the same period in 2004. The improvement came from Hawaiian operations, which were disrupted by a strike in the first quarter of 2004. Sales of poles declined in the first quarter as the wet weather in Southern California affected construction projects and pole installations. The forecast for the Infrastructure Products Group remains positive due to the favorable level of residential, commercial and government construction. TAMCO's first-quarter profits were similar in 2005 and 2004. Shipments of construction rebar slowed in the fourth quarter of 2004 and the first quarter of 2005 as customers adjusted inventory levels and imports increased. In spite of wet weather which reduced construction in the first quarter, shipments began to increase in January as customers' inventory levels returned to traditional levels. TAMCO is forecasting a strong performance for the remainder of 2005, based on expected demand and current steel prices. James Marlen continued, "The first quarter is seasonally Ameron's slowest quarter. We are pleased with the performance of most of our operations and are taking steps to improve those that are underperforming. Overall, we continue to forecast a solid improvement in 2005." Ameron International Corporation is a multinational manufacturer of highly-engineered products and materials for the chemical, industrial, energy, transportation and infrastructure markets. Traded on the New York Stock Exchange (AMN), Ameron is a leading producer of water transmission lines; high-performance coatings and finishes for the protection of metals and structures; fiberglass-composite pipe for transporting oil, chemicals and corrosive fluids and specialized materials and products used in infrastructure projects. The Company operates businesses in North America, South America, Europe, Australasia and Asia. It also participates in several joint-venture companies in the U.S., Saudi Arabia, Kuwait and Egypt. Cautionary statement for purposes of the "Safe Harbor" provisions of The Private Securities Litigation Reform Act of 1995: Any statements in this report that refer to the forecasted, estimated or anticipated future results of Ameron International Corporation ("Ameron" or the "Company") are forward-looking and reflect the Company's current analysis of existing trends and information. Actual results may differ from current expectations based on a number of factors affecting Ameron's businesses, including competitive conditions and changing market situations. Matters affecting the economy generally, including the state of economies worldwide, can affect Ameron's results. Forward-looking statements represent the Company's judgment only as of the date of this report. Since actual results could differ materially, the reader is cautioned not to rely on these forward-looking statements. Moreover, Ameron disclaims any intent or obligation to update these forward-looking statements. Ameron International Corporation Condensed Consolidated Statements of Income Three Months Ended (In thousands, except per share data) (Unaudited) February 27, February 29, 2005 2004 Sales $138,812 $129,668 Net Income/(Loss) $ 481 $ (2,753) Net Income/(Loss) Per Diluted Share $ .06 $ (.34) CONTACT: Ameron International Corporation James S. Marlen/Gary Wagner, 626-683-4000 -----END PRIVACY-ENHANCED MESSAGE-----