0000792987-14-000027.txt : 20140519 0000792987-14-000027.hdr.sgml : 20140519 20140519103457 ACCESSION NUMBER: 0000792987-14-000027 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140519 ITEM INFORMATION: Other Events FILED AS OF DATE: 20140519 DATE AS OF CHANGE: 20140519 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASTEC INDUSTRIES INC CENTRAL INDEX KEY: 0000792987 STANDARD INDUSTRIAL CLASSIFICATION: CONSTRUCTION MACHINERY & EQUIP [3531] IRS NUMBER: 620873631 STATE OF INCORPORATION: TN FISCAL YEAR END: 0723 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11595 FILM NUMBER: 14853505 BUSINESS ADDRESS: STREET 1: 1725 SHEPHERD ROAD CITY: CHATTANOOGA STATE: TN ZIP: 37421 BUSINESS PHONE: 4238995898 MAIL ADDRESS: STREET 1: 1725 SHEPHERD ROAD CITY: CHATTANOOGA STATE: TN ZIP: 37421 8-K 1 f8k-051914.htm SEGMENT REVISIONS f8k-051914.htm
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): May 19, 2014
 
Astec Industries, Inc.
 (Exact name of registrant as specified in its charter)
         
Tennessee
 
001-11595
 
62-0873631
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)

1725 Shepherd Road
Chattanooga, Tennessee 37421
(Address of principal executive offices) (Zip Code)
 
Registrant’s telephone number, including area code: (423) 899-5898
 
N/A
(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.2. below):
 
o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 

 
 
Item 7.01.  Regulation FD Disclosures
   
    Astec Industries, Inc. ("the Company") periodically prepares slide presentations for use in various investor forums. As previously announced, the Company recently completed a realignment of its operating segments for financial reporting purposes.  Attached as Exhibit 99.1 is a slide presentation depicting the Company’s historical segment information for 2011, 2012 and 2013 using the new segment structure.
 
    The information contained in the attached exhibit is summary information that is intended to be considered in the context of the Company's SEC filings and other public announcements.  The Company undertakes no duty or obligation to publicly update or revise this information, although it may do so from time to time.
      
    The information in this Current Report on Form 8-K, including the exhibit furnished pursuant to Item 9.01, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities under that Section.  Furthermore, the information in this Current Report on Form 8-K, including the exhibit furnished pursuant to Item 9.01, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933.

 
Item 9.01. Financial Statements and Exhibits.
 
(c) Exhibits. The following exhibits are furnished herewith:
 
Exhibit No.
 
Exhibit Description
 
99.1
 
Revised Segment Information
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
Date: May 19, 2014
ASTEC INDUSTRIES, INC.
 
 
By: /s/ David C. Silvious                     
David C. Silvious
Chief Financial Officer and Treasurer
(Principal Financial Officer)
 


EX-99.1 2 ex99-1.htm INVESTOR SLIDE PRESENTATION ex99-1.htm
Exhibit 99.1
 
Astec Industries, Inc.
Segment Information-Annual
(in thousands)
(unaudited)

   
Infrastructure
Group
   
Aggregate
and Mining
Group
   
Energy
Group
   
Corporate
   
Total
 
2013 Revenues-$
    398,399       350,514       184,085       -       932,998  
2012 Revenues-$
    390,752       355,428       190,093       -       936,273  
2011 Revenues-$
    422,272       333,278       153,091       -       908,641  
                                         
2013 Gross Profit-$
    85,428       87,849       33,925       (83 )     207,119  
2013 Gross Profit %
    21.4 %     25.1 %     18.4 %     -       22.2 %
2012 Gross Profit-$
    79,372       90,554       37,215       810       207,951  
2012 Gross Profit %
    20.3 %     25.5 %     19.6 %     -       22.2 %
2011 Gross Profit-$
    97,382       83,389       30,733       29       211,533  
2011 Gross Profit %
    23.1 %     25.0 %     20.1 %     -       23.3 %
                                         
2013 Profit (Loss)-$
    32,814       33,031       4,005       (30,367 )     39,483  
2012 Profit (Loss)-$
    26,917       34,687       6,149       (33,024 )     34,729  
2011 Profit (Loss)-$
    46,569       31,493       4,316       (39,992 )     42,386  
 
Segment revenues are reported net of intersegment revenues.  Segment gross profit is net of profit on intersegment revenues. A reconciliation of total segment profits to the Company's net income attributable to controlling interest is as follows (in thousands):
 
   
Year Ended December 31
 
   
2013
   
2012
   
2011
 
Total profit for all segments
  $ 39,483     $ 34,729     $ 42,386  
Elimination of intersegment profit
    (269 )     (519 )     (1,946 )
Net income attributable to non-controlling interest
    (172 )     (161 )     (102 )
Discontinued operations
    -       6,779       225  
Net income attributable to controlling interest
  $ 39,042     $ 40,828     $ 40,563  
                         

Astec Industries, Inc.
Backlog by Segment
(in thousands)
(Unaudited)

   
Infrastructure
Group
   
Aggregate
and Mining
Group
   
Energy
Group
   
Total
 
December 31, 2013
    137,119       105,022       48,101       290,242  
December 31, 2012
    124,210       88,123       51,458       263,791  
December 31, 2011
    111,307       98,262       59,049       268,618