-----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, LzpJvliLw+ewFk9SF7xM2eyifrJzjs5zkBBjaNOCb+4TPTDYMJPn5307Dt3AE+yO fEbjRbWoijVKTMzJe/jMjA== 0000079225-04-000002.txt : 20040211 0000079225-04-000002.hdr.sgml : 20040211 20040211141947 ACCESSION NUMBER: 0000079225-04-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031128 ITEM INFORMATION: FILED AS OF DATE: 20040211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLYMOUTH RUBBER CO INC CENTRAL INDEX KEY: 0000079225 STANDARD INDUSTRIAL CLASSIFICATION: FABRICATED RUBBER PRODUCTS, NEC [3060] IRS NUMBER: 041733970 STATE OF INCORPORATION: MA FISCAL YEAR END: 1127 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05197 FILM NUMBER: 04585579 BUSINESS ADDRESS: STREET 1: 104 REVERE ST CITY: CANTON STATE: MA ZIP: 02021 BUSINESS PHONE: 6178280220 MAIL ADDRESS: STREET 1: PLYMOUTH RUBBER CO INC STREET 2: 104 REVERE ST CITY: CANTON STATE: MA ZIP: 02021 8-K 1 form8k.txt FORM 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 February 10, 2004 Date of Report (Date of earliest event reported) Plymouth Rubber Company, Inc. (Exact name of registrant as specified in its charter) Massachusetts 1-5197 04-1733970 (State or other jurisdiction) (Commission (IRS Employer of incorporation File Number) Identification No.) 104 Revere Street, Canton, Massachusetts 02021 (Address of principal executive offices) (Zip Code) (781) 828-0220 Registrant's Telephone Number, including area code None (Former Name or Former Address, if changed since last report ) Item 7. Exhibits (c) Exhibits: Exhibit No. Description 99.1 Press release issued by Plymouth Rubber Company, Inc. on February 10, 2004 reporting financial results for the fourth quarter of fiscal 2003. Item 12. Results of Operations and Financial Condition. The Company is furnishing a press release that was issued on February 10, 2004 reporting financial results for the fourth quarter of fiscal 2003, a copy of which is attached hereto as Exhibit 99.1. 2 SIGNATURES Pursuant to the provisions 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 PLYMOUTH RUBBER COMPANY, INC. (Registrant) Date: February 11, 2004 By /s/Joseph J. Berns Joseph J. Berns Vice President-Finance and Treasurer 3 EX-99 3 press_release.txt Q4 EARNINGS RELEASE Exhibit 99.1 Press Release PLYMOUTH RUBBER COMPANY, INC. REPORTS IMPROVED RESULTS FOR THE FOURTH QUARTER OF 2003 CANTON, Mass., February 10, 2004 -- Plymouth Rubber Company, Inc. (Amex: PLR.A - News, PLR.B - News) announced today financial results for the fourth quarter and fiscal year ended November 28, 2003. Plymouth's fourth quarter 2003 sales increased 10% to $18,073,000, from $16,403,000 last year. Loss from continuing operations for the fourth quarter decreased to a loss of $133,000, or a loss of $0.07 diluted earnings per share, from a loss of $999,000, or a loss of $0.49 diluted earnings per share last year. The fourth quarter income from discontinued operations was $511,000, or income of $0.25 diluted earnings per share, due to a reduction in product warranty reserves for the discontinued roofing business. The fourth quarter 2003 net income was $378,000, or income of $0.18 diluted earnings per share, compared to a loss of $999,000, or a loss of $0.49 diluted earnings per share last year. For fiscal 2003, sales increased 1% to $65,873,000, from $65,259,000 last year. Loss from continuing operations for fiscal 2003 was $2,815,000, or a loss of $1.37 diluted earnings per share, from a profit of $101,000, or a profit of $0.05 diluted earnings per share last year. Fiscal 2003 income from discontinued operations was $511,000, or income of $0.25 diluted earnings per share, and the fiscal 2003 net loss was $2,304,000, or a loss of $1.12 diluted earnings per share, compared to a profit of $101,000, or a profit of $0.05 diluted earnings per share last year. "Although the first nine months of 2003 were extremely difficult, we were pleased by the improvement shown in the fourth quarter, as our sales strengthened significantly over both the first three quarters of 2003 and the previous year's fourth quarter" stated Maurice J. Hamilburg, Plymouth's President and Co-CEO. "Continued higher sales are planned for 2004 which, combined with recently completed expense reductions, should produce considerable further improvement in the new year." Plymouth Rubber Company, Inc. manufactures and distributes plastic and rubber products, including automotive tapes, insulating tapes, and other industrial tapes and films. The Company's tape products are used by the electrical supply industry, electric utilities, and automotive and other original equipment manufacturers. Through its Brite-Line Technologies subsidiary, Plymouth manufactures and supplies highway marking products. This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The Company's actual results could differ materially from those set forth in the forward-looking statements as a result of various factors, including those referenced in the "Management's Discussion and Analysis" section of the Company's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K which are on file with the SEC. Contact: Joseph J. Berns Vice President -- Finance (781) 828-0220 Ext. 1377 Source: Plymouth Rubber Company, Inc << Table Follows >> Plymouth Rubber Company, Inc. Reports Improved Results for the Fourth Quarter Of 2004 (Continued) (In Thousands Except Share and Per Share Amounts) Fourth Quarter Ended Year Ended Nov. 28, Nov. 29, Nov. 28, Nov. 29, 2003 2002 2003 2002 ---------- ---------- ---------- ---------- Net Sales $ 18,073 $ 16,403 $ 65,873 $ 65,259 Income (loss) from continuing operations (133) (999) (2,815) 101 Income from discontinued operations 511 -- 511 -- ---------- ---------- ---------- ---------- Net Income (loss) $ 378 $ (999) $ (2,304) $ 101 ========== ========== ========== ========== Per Share Data: Basic Earnings Per Share: Income (loss) from continuing operations $ (0.07) $ (0.49) $ (1.37) $ 0.05 Income from discontinued operations 0.25 -- 0.25 -- ---------- ---------- ---------- ---------- Net Income $ 0.18 $ (0.49) $ (1.12) $ 0.05 ========== ========== ========== ========== Weighted average number of shares outstanding 2,058,976 2,058,976 2,058,976 2,058,976 ========== ========== ========== ========== Diluted Earnings Per Share Income (loss) from continuing operations $ (0.07) $ (0.49) $ (1.37) $ 0.05 Income from discontinued operations 0.25 -- 0.25 -- ---------- ---------- ---------- ---------- Net Income $ 0.18 $ (0.49) $ (1.12) $ 0.05 ========== ========== ========== ========== Weighted average number of shares outstanding 2,058,976 2,058,976 2,058,976 2,105,857 ========== ========== ========== ========== -----END PRIVACY-ENHANCED MESSAGE-----