-----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, LB7Q4nnBpcYMarMB8MTIa9aKXTAmsP4TwoR7JoRdJbFLsVAiM83NV9lsftbcIgem mXrOC6l2obUZVdqMmAXMSg== 0000891092-08-002515.txt : 20080509 0000891092-08-002515.hdr.sgml : 20080509 20080509171836 ACCESSION NUMBER: 0000891092-08-002515 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080509 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080509 DATE AS OF CHANGE: 20080509 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALBANY INTERNATIONAL CORP /DE/ CENTRAL INDEX KEY: 0000819793 STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221] IRS NUMBER: 140462060 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10026 FILM NUMBER: 08819706 BUSINESS ADDRESS: STREET 1: 1373 BROADWAY CITY: ALBANY STATE: NY ZIP: 12204 BUSINESS PHONE: 5184452200 MAIL ADDRESS: STREET 1: 1373 BROADWAY CITY: ALBANY STATE: NY ZIP: 12204 FORMER COMPANY: FORMER CONFORMED NAME: ALBINT INC DATE OF NAME CHANGE: 19870924 8-K 1 e31554_8k.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) May 9, 2008 ALBANY INTERNATIONAL CORP. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 1-10026 14-0462060 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 1373 Broadway, Albany, New York 12204 --------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (518) 445-2200 None -------------------------------------------------------------- (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: |_| 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 240.13a-4(c)) 2.02. Results of Operations and Financial Condition On May 4, 2008, Albany International Corp. (the "Company") announced that it had entered into an agreement to sell its Filtration Technologies business, and accordingly, has reported the activities of that business as a discontinued operation. Additionally, the Company has modified its reportable segments to be consistent with changes in the Company's organizational structure. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 99.1 Schedules showing the effect on net sales and operating income of changes in reportable segments for quarterly periods of 2007, full year 2007, and full year 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. ALBANY INTERNATIONAL CORP. By: /s/ Michael C. Nahl ------------------------------------ Name: Michael C. Nahl Title: Executive Vice President and Chief Financial Officer Date: May 9, 2008 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Schedules showing the effect on net sales and operating income of changes in reportable segments for quarterly periods of 2007, full year 2007, and full year 2006. EX-99.1 2 e31554ex99_1.txt SCHEDULE ON NET SALES AND OPERATING INCOME Exhibit 99.1 Schedules showing the effect on net sales and operating income of changes in reportable segments for quarterly periods of 2007, full year 2007, and full year 2006. - --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------- Segment net sales reclassification Filtration Technologies Effect of Quarter ended Reclassified to change in Segment totals March 31, 2007 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - --------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 182,306 (3,675) 178,631 Albany Door Systems 34,494 34,494 Applied Technologies 40,938 (7,124) (33,814) -- Engineered Fabrics 25,531 25,531 Engineered Composites 7,775 7,775 PrimaLoft(R) Products 4,183 4,183 - --------------------------------------------------------------------------------------------------------------- Total 257,738 (7,124) -- 250,614 - ---------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Segment operating Filtration Included operating income reclassification Technologies Effect of costs for Quarter ended Reclassified to change in Segment totals restructuring and March 31, 2007 As previously Discontinued Reportable based on 2008 performance USD 000's reported Operations Segments classification improvement initiatives - ------------------------------------------------------------------------------------------------------------------------------ Paper Machine Clothing 27,078 (536) 26,542 6,846 Albany Door Systems 1,732 1,732 -- Applied Technologies 4,321 (538) (3,783) -- -- Engineered Fabrics 4,424 4,424 -- Engineered Composites (615) (615) -- PrimaLoft(R) Products 510 510 -- Research expenses (5,012) (5,012) -- Unallocated expenses (12,060) (12,060) 2,469 - ------------------------------------------------------------------------------------------------------------------------------ Total 16,059 (538) -- 15,521 9,315 - ------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------- Segment net sales reclassification Filtration Technologies Effect of Quarter ended Reclassified to change in Segment totals June 30, 2007 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - --------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 188,667 (4,268) 184,399 Albany Door Systems 33,324 33,324 Applied Technologies 45,278 (10,590) (34,688) -- Engineered Fabrics 25,842 25,842 Engineered Composites 7,143 7,143 PrimaLoft(R) Products 5,971 5,971 - --------------------------------------------------------------------------------------------------------------- Total 267,269 (10,590) -- 256,679 - ---------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Segment operating Filtration Included operating income reclassification Technologies Effect of costs for Quarter ended Reclassified to change in Segment totals restructuring and June 30, 2007 As previously Discontinued Reportable based on 2008 performance USD 000's reported Operations Segments classification improvement initiatives - ------------------------------------------------------------------------------------------------------------------------------ Paper Machine Clothing 24,279 (687) 23,592 5,049 Albany Door Systems (2,189) (2,189) 2,224 Applied Technologies 4,617 (995) (3,622) -- -- Engineered Fabrics 4,429 4,429 -- Engineered Composites (1,697) (1,697) -- PrimaLoft(R) Products 1,577 1,577 -- Research expenses (5,705) (5,705) -- Unallocated expenses (14,100) (14,100) 4,782 - ------------------------------------------------------------------------------------------------------------------------------ Total 6,902 (995) -- 5,907 12,055 - ------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------- Segment net sales reclassification Filtration Technologies Effect of Quarter ended Reclassified to change in Segment totals September 31, 2007 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - --------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 193,377 (4,300) 189,077 Albany Door Systems 37,363 37,363 Applied Technologies 45,512 (11,292) (34,220) -- Engineered Fabrics 25,219 25,219 Engineered Composites 9,341 9,341 PrimaLoft(R) Products 3,960 3,960 - --------------------------------------------------------------------------------------------------------------- Total 276,252 (11,292) -- 264,960 - ---------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Segment operating Filtration Included operating income reclassification Technologies Effect of costs for Quarter ended Reclassified to change in Segment totals restructuring and September 30, 2007 As previously Discontinued Reportable based on 2008 performance USD 000's reported Operations Segments classification improvement initiatives - ------------------------------------------------------------------------------------------------------------------------------ Paper Machine Clothing 16,776 (890) 15,886 18,195 Albany Door Systems (99) (99) 1,085 Applied Technologies 3,701 (1,167) (2,534) -- -- Engineered Fabrics 4,429 4,429 452 Engineered Composites (1,309) (1,309) -- PrimaLoft(R) Products 304 304 -- Research expenses (5,892) (5,892) 308 Unallocated expenses (12,277) (12,277) 2,328 - ------------------------------------------------------------------------------------------------------------------------------ Total 2,209 (1,167) -- 1,042 22,368 - ------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------- Segment net sales reclassification Filtration Technologies Effect of Quarter ended Reclassified to change in Segment totals December 31, 2007 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - --------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 199,172 (4,000) 195,172 Albany Door Systems 47,771 47,771 Applied Technologies 44,775 (12,067) (32,708) -- Engineered Fabrics 24,914 24,914 Engineered Composites 8,696 8,696 PrimaLoft(R) Products 3,098 3,098 - --------------------------------------------------------------------------------------------------------------- Total 291,718 (12,067) -- 279,651 - ---------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Segment operating Filtration Included operating income reclassification Technologies Effect of costs for Quarter ended Reclassified to change in Segment totals restructuring and December 31, 2007 As previously Discontinued Reportable based on 2008 performance USD 000's reported Operations Segments classification improvement initiatives - ------------------------------------------------------------------------------------------------------------------------------ Paper Machine Clothing 22,416 (462) 21,954 8,753 Albany Door Systems 5,489 5,489 23 Applied Technologies 1,668 (1,552) (116) -- -- Engineered Fabrics 2,952 2,952 290 Engineered Composites (2,662) (2,662) -- PrimaLoft(R) Products 288 288 -- Research expenses (6,728) (6,728) -- Unallocated expenses (10,566) (10,566) 1,061 - ------------------------------------------------------------------------------------------------------------------------------ Total 12,279 (1,552) -- 10,727 10,127 - ------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------- Segment net sales reclassification Filtration Technologies Effect of Year ended Reclassified to change in Segment totals December 31, 2007 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - ---------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 763,522 (16,243) 747,279 Albany Door Systems 152,952 152,952 Applied Technologies 176,503 (41,073) (135,430) -- Engineered Fabrics 101,506 101,506 Engineered Composites 32,955 32,955 PrimaLoft(R) Products 17,212 17,212 - ---------------------------------------------------------------------------------------------------------------- Total 1,092,977 (41,073) -- 1,051,904 - ----------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Segment operating Filtration Included operating income reclassification Technologies Effect of costs for year ended Reclassified to change in Segment totals restructuring and December 31, 2007 As previously Discontinued Reportable based on 2008 performance USD 000's reported Operations Segments classification improvement initiatives - ------------------------------------------------------------------------------------------------------------------------------ Paper Machine Clothing 90,549 (2,575) 87,974 38,843 Albany Door Systems 4,933 4,933 3,332 Applied Technologies 14,307 (4,252) (10,055) -- -- Engineered Fabrics 16,234 16,234 742 Engineered Composites (6,283) (6,283) -- PrimaLoft(R) Products 2,679 2,679 -- Research expenses (23,337) (23,337) 308 Unallocated expenses (49,003) (49,003) 10,640 - ------------------------------------------------------------------------------------------------------------------------------ Total 37,449 (4,252) -- 33,197 53,865 - ------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------- Segment net sales reclassification Filtration Technologies Effect of Year ended Reclassified to change in Segment totals December 31, 2006 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - ---------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 737,070 (15,832) 721,238 Albany Door Systems 124,646 124,646 Applied Technologies 149,742 (24,631) (125,111) -- Engineered Fabrics 97,638 97,638 Engineered Composites 25,898 25,898 PrimaLoft(R) Products 17,407 17,407 - ---------------------------------------------------------------------------------------------------------------- Total 1,011,458 (24,631) -- 986,827 - ----------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------ Segment operating Filtration Included operating income reclassification Technologies Effect of costs for year ended Reclassified to change in Segment totals restructuring and December 31, 2006 As previously Discontinued Reportable based on 2008 performance USD 000's reported Operations Segments classification improvement initiatives - ------------------------------------------------------------------------------------------------------------------------------ Paper Machine Clothing 130,330 (2,997) 127,333 5,026 Albany Door Systems 5,931 5,931 -- Applied Technologies 15,299 34 (15,333) -- -- Engineered Fabrics 18,182 18,182 -- Engineered Composites (3,142) (3,142) -- PrimaLoft(R) Products 3,290 3,290 -- Research expenses (21,628) (21,628) -- Unallocated expenses (39,645) (39,645) 1,397 - ------------------------------------------------------------------------------------------------------------------------------ Total 90,287 34 -- 90,321 6,423 - ------------------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------- Operating assets Filtration reclassification Technologies Effect of As of Reclassified to change in Segment totals December 31, 2007 As previously Discontinued Reportable based on 2008 USD 000's reported Operations Segments classification - ---------------------------------------------------------------------------------------------------------------- Paper Machine Clothing 1,632,968 (23,710) 1,609,258 Albany Door Systems 110,319 110,319 Applied Technologies 260,429 (48,707) (211,722) -- Engineered Fabrics 159,012 159,012 Engineered Composites 64,539 64,539 PrimaLoft(R) Products 11,881 11,881 Assets of discontinued operations 48,707 48,707 Reconciling items (476,739) (476,739) - ---------------------------------------------------------------------------------------------------------------- Total 1,526,977 -- -- 1,526,977 - ----------------------------------------------------------------------------------------------------------------
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