-----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, UY3lZ7iiwahmnxaunGYlmVsu04/IVCw/ELj9zbkdC23iXK3NoOf60uf3TaHcs6rq zQeZ938kjsdHgsGiqm6j4w== 0001275287-06-005278.txt : 20061020 0001275287-06-005278.hdr.sgml : 20061020 20061020085613 ACCESSION NUMBER: 0001275287-06-005278 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061020 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061020 DATE AS OF CHANGE: 20061020 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMCOL INTERNATIONAL CORP CENTRAL INDEX KEY: 0000813621 STANDARD INDUSTRIAL CLASSIFICATION: MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400] IRS NUMBER: 360724340 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14447 FILM NUMBER: 061154416 BUSINESS ADDRESS: STREET 1: 1500 W SHURE DR CITY: ARLINGTON HEIGHTS STATE: IL ZIP: 60004-7803 BUSINESS PHONE: 8473948730 MAIL ADDRESS: STREET 1: 1500 W SHURE DR CITY: ARLINGTON HEIGHTS STATE: IL ZIP: 60004-7803 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN COLLOID CO DATE OF NAME CHANGE: 19920703 8-K 1 ai7546.txt FORM 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): October 20, 2006 ---------- AMCOL INTERNATIONAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 0-15661 36-0724340 State of Other Jurisdiction Commission I.R.S. Employer of Incorporation File Number Identification Number One North Arlington, 1500 West Shure Drive, Suite 500 Arlington Heights, IL 60004-7803 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (847) 394-8730 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intened to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.): [ ] Written communications pursuant to Rule 45 under the Securities Act (17 CFR 230.425) [ ] Soliciting materials 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 CFR 240. 14d-2 (b)) [ ] Pre-commencement communications pursuant to Rule 13e - 4 (c) under the Exchange Act (17 CFR 240.13e-4 (c)) ================================================================================ ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION The information in this item is being furnished to, but not filed with, the Securities and Exchange Commission solely under Item 12 of Form 8-K, "Results of Operations and Financial Condition," pursuant to interim procedures promulgated by the Securities and Exchange Commission in Release 33-8216 issued March 27, 2003. On Oct. 20, 2006, the registrant issued a press release to report results for its third quarter ended Sept. 30, 2006. That press release, dated Oct. 20, 2006 and titled "AMCOL International Reports Increase in Diluted Earnings Per Share From Continuing Operations Over 2005 Third Quarter" is attached hereto as Exhibit 99.1. ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) The following exhibit is furnished with this document: Number Exhibit ------ ----------------------------------------------------------- 99.1 Press Release titled "AMCOL International Reports Increase in Diluted Earnings Per Share from Continuing Operations Over 2005 Third Quarter" dated Oct. 20, 2006. 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. AMCOL INTERNATIONAL CORPORATION Date: Oct. 20, 2006 By: /s/ Lawrence E. Washow ------------------------- Lawrence E. Washow President and Chief Executive Officer EX-99.1 2 ai7546ex991.txt EXHIBIT 99.1 Exhibit 99.1 AMCOL INTERNATIONAL (NYSE: ACO) REPORTS INCREASE IN DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS OVER 2005 THIRD QUARTER ARLINGTON HEIGHTS, Ill., Oct. 20 /PRNewswire-FirstCall/ -- AMCOL International Corporation (NYSE: ACO) today reported 2006 third quarter income from continuing operations of $16.0 million or $0.52 per diluted share, compared with $11.4 million or $0.37 per diluted share in the same prior-year period. The 2006 third quarter income from continuing operations includes a $0.09 per diluted share net benefit resulting from income tax refunds. Net income for the quarter ended September 30, 2006 was $16.6 million, or $0.54 per diluted share, compared with $11.4 million, or $0.37 per diluted share, in the prior-year period. Net income for the quarter ended September 30, 2006 includes a $0.6 million, or $0.02 per diluted share, benefit from discontinued operations, reflecting income tax refunds associated with the absorbent polymers segment that was sold in the second quarter of 2000. Net sales from continuing operations rose 12 percent to $160.2 million for the quarter ended September 30, 2006, compared with $142.9 million for the period in 2005. Operating profit from continuing operations grew over the 2005 third quarter by 3 percent to $16.4 million. Current period operating profit includes a $0.7 million expense for professional fees relating to the aforementioned amended tax returns, and prior period gross profit and operating profit includes a $0.2 million reduction in mining-related taxes due to legislative changes in Montana. Excluding the effect of these one-time items, operating profit increased 8.5 percent or $1.3 million over the prior year period. For the nine-month period ended September 30, 2006, income from continuing operations was $37.7 million, or $1.22 per diluted share, compared with $27.9 million, or $0.91 per diluted share in the same period of 2005. As previously mentioned in this release, the current-year period includes a $0.09 per share net benefit from income tax refunds. Net income was $38.2 million, or $1.24 per diluted share, compared with $32.7 million, or $1.06 per diluted share, in the same period of 2005. Net income for the nine months ended September 30, 2006 and 2005 includes a gain from discontinued operations of $0.02 and $0.15 per diluted share, respectively. Net sales from continuing operations were $455.6 million for the nine- month period ended September 30, 2006, compared with $401.3 million in the prior-year period, or an increase of 13.5 percent. Operating profit for the period was $43.3 million compared with $37.7 million in 2005, or an increase of 15 percent. The current period operating profit includes a $0.7 million expense for professional fees relating to amended tax returns, and prior period gross profit and operating profit benefited from a $2.1 million reduction in mining-related taxes due to legislative changes in Montana. Excluding the effect of these one-time items, operating profit increased 23.6 percent or $8.4 million over the prior year period. This release should be read in conjunction with the attached unaudited condensed consolidated financial statements. Further discussion of items and events impacting earnings are included in the financial overview. In the third quarter of 2006, we began capturing discrete financial information for our Oilfield services business and reporting it separately. In accordance with generally accepted accounting principles, we have revised our segment reporting to reflect the way we now manage and view our business - with Oilfield services segment reported separately from our Environmental segment. We have also recast the segment information for prior periods to conform to this new presentation. Larry Washow, AMCOL president and chief executive officer said, "Overall we had a productive quarter, both operationally and financially, with diluted earnings per share up over the third quarter of 2005 and several targeted investments completed. Our worldwide operations reported strong results, benefiting from our Asian mineral groups and our European environmental groups. The U.S. metalcasting market has shown a flattening, but oil drilling continues to be strong." Washow continued, "We have provided detailed information on our Oilfield Services segment which has built a unique platform and our third quarter results highlight the effectiveness of this segment. I am particularly pleased with our portfolio evolution, demonstrating the attractiveness of our product offering to customers." "Compared to the strong third quarter the Environmental segment had in 2005, the segment again had strong sales, offset by weaker than expected margins. We experienced margin pressure from our newest group, Contracting Services, which contributed to the segment's sales but is not yet adding to the bottom line. This Group is working to attain the profit margins we had expected for this business," Washow commented. Washow added that the Environmental segment's third quarter general, selling and administrative expenses were impacted by increased staffing needs to meet the sales demands but has remained constant at about 19 percent of sales. FINANCIAL OVERVIEW Third-Quarter Operating Results The Environmental segment accounted for approximately 54 percent of the sales growth in the third quarter. The Minerals segment contributed 29 percent and the Oilfield Services segment contributed 17 percent, while the Transportation segment was flat. Gross margin for the quarter was 26.4 percent compared with 26.7 percent in the prior-year third quarter. The Oilfield Services segment's gross margin for the quarter increased 340 basis points while the Environmental and Minerals segments' gross margin declined by 230 and 30 basis points, respectively. The Transportation segment's gross margins decreased by 20 basis points. General, selling and administrative expenses were $25.8 million in the 2006 third quarter, an increase of $3.7 million or 17 percent over the 2005 period. Higher personnel-related costs in the Environmental and Oilfield Services segments were the primary causes for the increase. Professional fees related to the amended income tax returns accounted for approximately $0.7 million of the increase. Research and development expenses remained constant at $1.5 million in the third quarter of 2006 versus the third quarter of 2005. The nanocomposites business, which is included in the Corporate segment, benefited from one-time adjustments totaling approximately $0.2 million related to depreciation and obsolete inventory reserves. Operating margin for the quarter was 10.2 percent compared with 11.2 percent in the prior-year period. The margin decline was principally impacted by higher general, selling and administrative expenses. Interest expense increased by approximately $0.4 million over the prior- year quarter due to higher average debt levels and increased interest rates. Other expense for the period was $0.3 million compared with income of $0.2 million in 2005. The change was primarily attributed to foreign exchange losses incurred at the European subsidiaries. The Company's effective tax rate was 8.0 percent for the third quarter of 2006 versus 33.1 percent for the same period in 2005. The 2006 period benefited from favorable tax reductions of approximately $3.4 million relating to amended tax returns, while the 2005 period included a charge of $1.5 million for write-off of tax receivables. Excluding the effect of both of these adjustments, the comparative third quarter effective tax rates for 2006 and 2005 were 29 percent and 23.9 percent, respectively. Income from affiliates and joint ventures contributed approximately $0.06 per diluted share in the 2006 third quarter compared with $0.03 per diluted share in the prior-year period. Higher profits earned at the Company's Indian-based investments led to the increase. The weighted average number of common and common equivalent shares was constant at 30.8 million for the quarter ended September 30, 2006 and 2005. Financial Position Long-term debt increased to $60.1 million at September 30, 2006 compared to $34.8 million at December 31, 2005. The increase was primarily due to greater working capital levels, capital expenditures and acquisitions. Debt represented 18 percent of total capitalization at September 30, 2006, compared with 12 percent at December 31, 2005. Cash and cash equivalents were $15.3 million at September 30, 2006 compared with $16.0 million at the end of 2005. Working capital increased to $167.9 million at September 30, 2006 from $147.9 million at December 31, 2005; our current ratio remained relatively constant. Cash flow provided by operating activities was $29.0 million for the year- to-date nine months ended September 30, 2006 as compared with $17.4 million in the prior-year period. Higher net income and a lower increase in working capital contributed to the improvement over the 2005 period. Capital expenditures amounted to $30.0 million for the year-to-date nine months ended September 30, 2006, compared with $20.0 million for the same period in 2005. The increase is primarily due to investments within the Minerals segment manufacturing plants. The Company expended $11.7 million for acquisitions in the 2006 period, including approximately $10.5 million in the third quarter for a business included in the Oilfield Services segment. During the first nine months of 2006, the Company repurchased 220 thousand shares of its common stock for $5.6 million, or an average price of $25.24 per share. The stock repurchase program approved by the Board of Directors in May 2004 expired in the third quarter of 2006. This release contains certain forward-looking statements regarding AMCOL's expected performance for future periods and actual results for such periods might materially differ. Such forward-looking statements are subject to uncertainties, which include, but are not limited to, actual growth in AMCOL's various markets, utilization of AMCOL's plants, currency exchange rates, currency devaluation, delays in development, production and marketing of new products, integration of acquired businesses, and other factors detailed from time to time in AMCOL's annual report and other reports filed with the Securities and Exchange Commission. AMCOL International, headquartered in Arlington Heights, Ill., produces and markets a wide range of specialty mineral products used for industrial, environmental and consumer-related applications. AMCOL is the parent of American Colloid Co., CETCO (Colloid Environmental Technologies Co.), Volclay International, Nanocor and the transportation operations, Ameri-co Carriers, Inc. and Ameri-co Logistics, Inc. AMCOL's common stock is traded on the New York Stock Exchange under the symbol ACO. AMCOL's web address is www.amcol.com. AMCOL's third quarter conference call will be available live today at 11 a.m. EDT on the AMCOL website. AMCOL INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (In thousands, except per share data)
Nine Months Ended Three Months Ended September 30, September 30, --------------------------- --------------------------- 2006 2005 2006 2005 ------------ ------------ ------------ ------------ Continuing Operations: Net sales $ 455,637 $ 401,322 $ 160,172 $ 142,928 Cost of sales 337,995 296,977 117,954 104,831 Gross profit 117,642 104,345 42,218 38,097 General, selling and administrative expenses 74,359 66,690 25,810 22,138 Operating profit 43,283 37,655 16,408 15,959 Other income (expense): Interest expense, net (1,835) (1,195) (740) (390) Other, net 259 (831) (273) 160 (1,576) (2,026) (1,013) (230) Income before income taxes and income from affiliates and joint ventures 41,707 35,629 15,395 15,729 Income tax expense (benefit) 8,505 9,659 1,237 5,202 Income before income from affiliates and joint ventures 33,202 25,970 14,158 10,527 Income from affiliates and joint ventures 4,462 1,942 1,876 915 Income from continuing operations 37,664 27,912 16,034 11,442 Discontinued Operations: 585 4,755 585 - Income from discontinued operations 585 4,755 585 - Net income $ 38,249 $ 32,667 $ 16,619 $ 11,442 Weighted average common shares outstanding 29,903 29,489 29,962 29,649 Weighted average common and common equivalent shares outstanding 30,874 30,798 30,825 30,832 Basic earnings per share: Continuing operations $ 1.26 $ 0.95 $ 0.54 $ 0.39 Discontinued operations 0.02 0.16 0.02 - Basic earnings per share $ 1.28 $ 1.11 $ 0.56 $ 0.39 Diluted earnings per share: Continuing operations $ 1.22 $ 0.91 $ 0.52 $ 0.37 Discontinued operations 0.02 0.15 0.02 - Diluted earnings per share $ 1.24 $ 1.06 $ 0.54 $ 0.37 Dividends declared per share $ 0.35 $ 0.28 $ 0.12 $ 0.10
AMCOL INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) September 30, December 31, 2006 2005 ------------- ------------ (unaudited) * ASSETS Current assets: Cash $ 15,319 $ 15,997 Accounts receivable, net 134,145 101,725 Inventories 79,364 75,455 Prepaid expenses 12,110 9,068 Current deferred tax assets 3,866 3,698 Income taxes receivable - 4,864 Other 573 402 Total current assets 245,377 211,209 Investments in and advances to affiliates and joint ventures 29,893 19,730 Property, plant, equipment, mineral rights and reserves: Land and mineral rights 15,856 12,761 Depreciable assets 285,378 252,430 301,234 265,191 Less: accumulated depreciation 179,296 165,127 121,938 100,064 Other assets: Goodwill 26,462 20,644 Intangible assets, net 2,722 3,009 Deferred tax assets 5,275 4,579 Other assets 11,264 9,294 45,723 37,526 $ 442,931 $ 368,529 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 28,766 $ 24,722 Accrued liabilities 48,743 38,547 Total current liabilities 77,509 63,269 Long-term debt 60,100 34,838 Minority interests in subsidiaries 262 259 Deferred compensation 7,823 7,045 Other liabilities 15,186 14,262 23,271 21,566 Stockholders' equity: Common stock 320 320 Additional paid in capital 76,140 72,194 Retained earnings 211,883 184,125 Accumulated other comprehensive income 13,936 8,644 302,279 265,283 Less: Treasury stock 20,228 16,427 282,051 248,856 $ 442,931 $ 368,529 * Condensed from audited financial statements. AMCOL INTERNATIONAL CORPORATION SEGMENT RESULTS (unaudited)
Nine Months Ended September 30, --------------------------------------------------------------------------- Minerals 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 237,463 100.0% $ 222,643 100.0% $ 14,820 6.7% Cost of sales 191,152 80.5% 177,343 79.7% 13,809 7.8% Gross profit 46,311 19.5% 45,300 20.3% 1,011 2.2% General, selling and administrative expenses 18,093 7.6% 17,041 7.7% 1,052 6.2% Operating profit 28,218 11.9% 28,259 12.6% (41) -0.1%
Nine Months Ended September 30, --------------------------------------------------------------------------- Environmental 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 151,996 100.0% $ 128,505 100.0% $ 23,491 18.3% Cost of sales 99,934 65.7% 83,131 64.7% 16,803 20.2% Gross profit 52,062 34.3% 45,374 35.3% 6,688 14.7% General, selling and administrative expenses 30,896 20.3% 26,430 20.6% 4,466 16.9% Operating profit 21,166 14.0% 18,944 14.7% 2,222 11.7%
Nine Months Ended September 30, --------------------------------------------------------------------------- Oilfield services 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 43,270 100.0% $ 28,710 100.0% $ 14,560 50.7% Cost of sales 28,558 66.0% 19,502 67.9% 9,056 46.4% Gross profit 14,712 34.0% 9,208 32.1% 5,504 59.8% General, selling and administrative expenses 7,366 17.0% 5,390 18.8% 1,976 36.7% Operating profit 7,346 17.0% 3,818 13.3% 3,528 92.4%
Nine Months Ended September 30, --------------------------------------------------------------------------- Transportation 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 38,619 100.0% $ 36,804 100.0% $ 1,815 4.9% Cost of sales 34,062 88.2% 32,341 87.9% 1,721 5.3% Gross profit 4,557 11.8% 4,463 12.1% 94 2.1% General, selling and administrative expenses 2,367 6.1% 2,419 6.6% (52) -2.1% Operating profit 2,190 5.7% 2,044 5.5% 146 7.1%
Nine Months Ended September 30, ------------------------------------------------- Corporate 2006 2005 2006 vs 2005 - -------------------------------------- ---------- ---------- ----------------------- (Dollars in Thousands) Intersegment shipping sales $ (15,711) $ (15,340) Intersegment shipping costs (15,711) (15,340) Gross profit - - Corporate general, selling and administrative expenses 13,591 12,819 772 6.0% Nanocomposite business development expenses 2,046 2,591 (545) -21.0% Operating loss 15,637 15,410 227 1.5%
AMCOL INTERNATIONAL CORPORATION SEGMENT RESULTS (unaudited)
Three Months Ended September 30, --------------------------------------------------------------------------- Minerals 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 79,274 100.0% $ 74,318 100.0% $ 4,956 6.7% Cost of sales 63,503 80.1% 59,275 79.8% 4,228 7.1% Gross profit 15,771 19.9% 15,043 20.2% 728 4.8% General, selling and administrative expenses 5,791 7.3% 5,244 7.1% 547 10.4% Operating profit 9,980 12.6% 9,799 13.1% 181 1.8%
Three Months Ended September 30, --------------------------------------------------------------------------- Environmental 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 59,120 100.0% $ 49,832 100.0% $ 9,288 18.6% Cost of sales 39,303 66.5% 31,999 64.2% 7,304 22.8% Gross profit 19,817 33.5% 17,833 35.8% 1,984 11.1% General, selling and administrative expenses 10,968 18.6% 9,392 18.8% 1,576 16.8% Operating profit 8,849 14.9% 8,441 17.0% 408 4.8%
Three Months Ended September 30, --------------------------------------------------------------------------- Oilfield services 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 14,157 100.0% $ 11,245 100.0% $ 2,912 25.9% Cost of sales 9,090 64.2% 7,605 67.6% 1,485 19.5% Gross profit 5,067 35.8% 3,640 32.4% 1,427 39.2% General, selling and administrative expenses 2,797 19.8% 1,963 17.5% 834 42.5% Operating profit 2,270 16.0% 1,677 14.9% 593 35.4%
Three Months Ended September 30, --------------------------------------------------------------------------- Transportation 2006 2005 2006 vs 2005 - ------------------------- ----------------------- ----------------------- ----------------------- (Dollars in Thousands) Net sales $ 13,300 100.0% $ 13,224 100.0% $ 76 0.6% Cost of sales 11,737 88.2% 11,643 88.0% 94 0.8% Gross profit 1,563 11.8% 1,581 12.0% (18) -1.1% General, selling and administrative expenses 788 5.9% 830 6.3% (42) -5.1% Operating profit 775 5.9% 751 5.7% 24 3.2%
Three Months Ended September 30, ------------------------------------------------- Corporate 2006 2005 2006 vs 2005 - -------------------------------------- ---------- ---------- ----------------------- (Dollars in Thousands) Intersegment shipping sales $ (5,679) $ (5,691) Intersegment shipping costs (5,679) (5,691) Gross profit - - Corporate general, selling and administrative expenses 5,070 3,786 1,284 33.9% Nanocomposite business development expenses 396 923 (527) -57.1% Operating loss 5,466 4,709 757 16.1%
AMCOL INTERNATIONAL CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (In thousands)
Nine Months Ended September 30, --------------------------- 2006 2005 ------------ ------------ Cash flow from operating activities: Net income $ 38,249 $ 32,667 Adjustments to reconcile net income to net cash: provided by (used in) operating activities: Gain on disposal of discontinued operations (585) (4,755) Depreciation, depletion, and amortization 14,606 14,629 Changes in assets and liabilities, net of effects of acquisitions: Decrease (Increase) in current assets (33,693) (25,748) Decrease (Increase) in noncurrent assets (2,171) (2,190) Increase (decrease) in current liabilities 14,256 210 Increase (decrease) in noncurrent liabilities 1,703 1,358 Other (3,400) 1,276 Net cash provided by (used in) operating activities 28,965 17,447 Cash flow from investing activities: Acquisition of land, mineral rights, and depreciable assets (29,980) (19,988) Acquisitions, net of cash (11,722) (1,997) Investments in and advances to affiliates and joint ventures (5,260) (2,336) Net tax refunds from the sale of discontinued operations 585 7,300 Other 1,226 2,918 Net cash provided by (used in) investing activities (45,151) (14,103) Cash flow from financing activities: Net change in outstanding debt 22,257 6,151 Proceeds from sales of treasury stock 2,350 1,247 Purchases of treasury stock (5,553) (1,946) Dividends paid (10,488) (8,308) Excess tax benefits from stock-based compensation 1,931 - Net cash provided by (used in) financing activities 10,497 (2,856) Effect of foreign currency rate changes on cash 5,011 (2,939) Net increase (decrease) in cash and cash equivalents (678) (2,451) Cash and cash equivalents at beginning of period 15,997 17,594 Cash and cash equivalents at end of period $ 15,319 $ 15,143
SOURCE AMCOL International Corporation -0- 10/20/2006 /CONTACT: Jennifer Melsheimer, Investor Relations Manager for AMCOL International Corporation, +1-847-394-8730/ /Web site: http://www.amcol.com / (ACO) -----END PRIVACY-ENHANCED MESSAGE-----