-----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, CbXwL4oAa7UeekCHD+vP0IY1TPk1sYKEWFPZU2v3jaaUJM2VO+gapCUimQ6L5hcP oXTHuxcNz4oE7vuW4aMivQ== 0001157523-06-009403.txt : 20060922 0001157523-06-009403.hdr.sgml : 20060922 20060922164439 ACCESSION NUMBER: 0001157523-06-009403 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060920 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20060922 DATE AS OF CHANGE: 20060922 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: 061104768 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 a5234011.txt AMERON INTERNATIONAL CORP. 8K 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): 9-20-06 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 No.) 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 2.02 Results of Operations and Financial Condition On September 22, 2006, the Company issued a press release regarding the Company's results of operations for the third quarter ended September 3, 2006. 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: September 22, 2006 By: /s/ Javier Solis ----------------------------------- Javier Solis Senior Vice President & Secretary EX-99.1 2 a5234011ex991.txt EXHIBIT 99.1 Exhibit 99.1 Ameron's Record 2006 Performance Continues with Higher Third-Quarter Results PASADENA, Calif.--(BUSINESS WIRE)--Sept. 22, 2006--Ameron International Corporation (NYSE:AMN) reported earnings of $2.02 per diluted share in the third quarter ended September 3, 2006, compared to $1.58 per diluted share in the third quarter ended August 28, 2005. As previously reported, on August 1, 2006, the Company completed the divestiture of its worldwide coatings and finishes business. Diluted earnings per share from continuing operations, excluding results of the coatings and finishes business, were $1.91 in the third quarter of 2006, compared to $1.35 in the third quarter of 2005. Without coatings and finishes, sales totaled $139.9 million in the third quarter of 2006, compared to $136.6 million in the same period of 2005. Sales of continuing operations totaled $398.6 million in the first nine months of 2006. Comparable sales totaled $355.6 million in 2005. Earnings per diluted share were $4.55 and earnings per diluted share from continuing operations were $4.29 for the first nine months of 2006, compared to $2.26 and $2.16, respectively, in 2005. Earnings from discontinued operations, which consisted of the coatings and finishes business, were $.11 per diluted share in the third quarter and $.26 per diluted share in the first nine months of 2006, compared to $.23 and $.10, respectively, in 2005. Included in the 2006 results from discontinued operations was a pretax gain on the sale of the coatings and finishes business of $1.2 million. The third-quarter results of Ameron's ongoing operations were consistent with the first half of 2006, as the Fiberglass-Composite Pipe and Infrastructure Products Groups and TAMCO, Ameron's 50%-owned steel mini-mill, generated record sales and profits. The Water Transmission Group continued to experience weak market conditions, and, as a result, sales and earnings declined compared to 2005. "We remain very pleased with the outstanding third-quarter and nine-month performances of Fiberglass-Composite Pipe, Infrastructure Products and TAMCO," stated James Marlen, Ameron's Chairman, President and Chief Executive Officer. "Business and market conditions were favorable for most of our operations." The Fiberglass-Composite Pipe Group's sales rose 30% in the third quarter of 2006, compared to the same period of 2005, while segment income increased 76% due to the sales growth and higher productivity. The sales increase was broad-based across most markets served worldwide. The demand for onshore oilfield piping remained robust, chemical and industrial demand remained steady, and fuel-handling piping sales in the U.S. improved. The marine and offshore market, served primarily from Ameron's operations in Singapore and Malaysia, remained strong. The outlook for the Fiberglass-Composite Pipe Group remains positive. The business should continue to operate at record levels, based on the current order backlog, high oil prices and generally favorable market conditions throughout the world. The Water Transmission Group had significantly lower sales and segment income in the third quarter of 2006, compared to the same period of 2005. The anticipated decline was caused by soft market conditions and the lack of new water piping projects in the western U.S. The Water Transmission Group entered the wind-energy market by fabricating large towers for wind-turbine manufacturers. This rapidly growing market in the Southwest and western U.S. provides an excellent growth and diversification opportunity for the Water Transmission Group, and it will counterbalance the cyclical lull in the water infrastructure market. The soft pipe market is expected to continue through late 2007. Longer term, the outlook is positive, based on the projected timing of pipe projects and the need to expand and upgrade water infrastructure throughout the western U.S. The Infrastructure Products Group's sales rose 25%, and segment income rose 46%, in the third quarter of 2006, compared to the same period in 2005. Ameron's Hawaiian and Pole Products operations both had improved results. The increase in segment income resulted from higher sales and improved selling prices. The Hawaiian operation continued to benefit from a solid construction market, primarily residential construction, on Oahu and Maui. Pole Products continued to achieve market penetration gains in the southeastern U.S., while sales in the western U.S., primarily California, remained solid due to demand for decorative concrete lighting poles. While residential construction is slowing somewhat, the outlook for the Infrastructure Products Group remains positive due to demand from commercial and governmental construction sectors. TAMCO had higher net income in the third quarter of 2006, compared to the same period of 2005. Demand for steel rebar is strong in the western states served by TAMCO, and steel prices are firm. The outlook for TAMCO remains favorable. James Marlen continued, "The year-to-date record performance was achieved as our businesses operated efficiently and benefited from favorable market conditions. We expect this performance to continue into 2007. With the divestiture of the coatings business, the Company has become more streamlined with a solid focus on energy and infrastructure-related products. We are optimistic about the future and foresee strong growth opportunities for the Company." 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; 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 and Asia. It also participates in several joint-venture companies in the U.S. and the Middle East. 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. CONTACT: Ameron International Corporation James S. Marlen, Gary Wagner, or James R. McLaughlin 626-683-4000 -----END PRIVACY-ENHANCED MESSAGE-----