-----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, Bly9M2Brb/8JgDnQ69S0knxbT8q7m57M4oKwU7ub9vcXYzOqAU9xOeZdCWAOui/m dDIEQblrksGUd8uPinmJ3Q== 0001193125-06-232541.txt : 20061113 0001193125-06-232541.hdr.sgml : 20061110 20061113135611 ACCESSION NUMBER: 0001193125-06-232541 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20061113 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061113 DATE AS OF CHANGE: 20061113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROVENA FOODS INC CENTRAL INDEX KEY: 0000814139 STANDARD INDUSTRIAL CLASSIFICATION: SAUSAGE, OTHER PREPARED MEAT PRODUCTS [2013] IRS NUMBER: 952782215 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10741 FILM NUMBER: 061207712 BUSINESS ADDRESS: STREET 1: 5010 EUCALYPTUS AVE CITY: CHINO STATE: CA ZIP: 91710 BUSINESS PHONE: 7146271082 MAIL ADDRESS: STREET 1: 5010 EUCALYPTUS AVENUE CITY: CHINO STATE: CA ZIP: 91710 8-K 1 d8k.htm FORM 8-K 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) NOVEMBER 13, 2006

 

PROVENA FOODS INC.

(Exact name of registrant as specified in its charter)

 

California   1-10741   95-2782215
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS employer Identification No.)

 

5010 Eucalyptus Avenue, Chino, California   91710
(Address of principal executive offices)   (Zip Code)

 

(909) 627-1082

(Registrant’s telephone number, including area code)

 

Check the appropriate box below it the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 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 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



SECTION 2 — FINANCIAL INFORMATION

 

Item 2.02 Results of Operations and Financial Condition

 

The following is the text of a press release including registrant’s results for the 3rd quarter of 2006 which registrant intends to have published on November 13, 2006:

 

FOR IMMEDIATE RELEASE — November 13, 2006 — CHINO, CA

 

PROVENA FOODS INC.(“PZA” — AMEX) REPORTS THIRD QUARTER RESULTS

 

CHINO, Calif., Provena Foods Inc. (AMEX: PZA) had net earnings of $202,406 for the 3rd quarter and $641,750 for the 1st nine months of 2006 compared to net losses of $532,351 and $211,060 a year ago. The Company’s sales were up 8.6% in the 3rd quarter and up 6% in the 1st nine months of 2006 compared to the same periods of 2005. The meat division provided the increases in earnings and sales in both periods.

 

CONDENSED STATEMENT

OF OPERATIONS

   Three Months Ended
September 30,


    Nine Months Ended
September 30,


 
(Unaudited)    2006

    2005

    2006

    2005

 

Net Sales

   $ 15,162,399     $ 13,965,713     45,697,422     43,126,885  

Cost of Sales

     13,801,327       13,401,238     41,588,529     40,916,460  
    


 


 

 

Gross profit

     1,361,072       564,475     4,108,893     2,210,425  

Operating Expenses:

                            

Distribution

     371,255       408,222     1,230,622     1,249,070  

General and administrative

     635,321       489,691     1,844,947     1,538,313  
    


 


 

 

Operating loss

     354,496       (333,438 )   1,033,324     (576,958 )

Interest expense and other financing costs, net

     (142,471 )     (164,372 )   (400,918 )   (625,918 )

Other Income, net

     125,285       147,605     453,622     360,480  
    


 


 

 

Loss before income taxes

     337,310       (350,205 )   1,086,028     (842,396 )

Income tax benefit

     (134,904 )     139,145     (444,278 )   310,045  
    


 


 

 

Net loss

     202,406       (211,060 )   641,750     (532,351 )
    


 


 

 

Loss per share:

                            

Basic and diluted

     0.06       (0.06 )   0.18     (0.16 )
    


 


 

 

Shares used in computing loss per share.

                            

Basic and diluted:

     3,514,685       3,412,842     3,495,337     3,382,503  
    


 


 

 


SECTION 8 — OTHER EVENTS

 

Item 8.01 Other Events

 

On September 6, 2006 the Company announced that it had entered into a definitive merger agreement with Hormel Foods Corporation (NYSE:HRL) whereby, subject to customary conditions and approval of the Company’s shareholders, Hormel Foods will acquire the Company for 0.08 shares of Hormel Foods common stock for each share of Company common stock. Provena shareholders of record at the close of business on Monday, October 23, 2006 will be entitled to notice of, and to vote at, the special meeting, which will be held at 11:00 a.m. local time on Thursday, December 14, 2006 at 5010 Eucalyptus Avenue, Chino, California.

 

SECTION 9 — FINANCIAL STATEMENTS AND EXHIBITS

 

Item 9.01 Financial Statements and Exhibits

 

No financial reports or exhibits are filed with this report.

 

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.

 

Date: November 13, 2006       PROVENA FOODS INC.
            By   /s/    THOMAS J. MULRONEY        
                Thomas J. Mulroney
                Vice President and Chief Financial Officer
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