-----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, QTXNt9+F7IMrOe2HjTOwql91lVv/IypbhBLpRRTzFRMI0AJbLaKsTkKFZZiQk/MS Yp2w3NWGWKUZ82MByqAptA== 0000950134-03-010771.txt : 20030731 0000950134-03-010771.hdr.sgml : 20030731 20030731152827 ACCESSION NUMBER: 0000950134-03-010771 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030729 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED STATES LIME & MINERALS INC CENTRAL INDEX KEY: 0000082020 STANDARD INDUSTRIAL CLASSIFICATION: MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400] IRS NUMBER: 750789226 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-04197 FILM NUMBER: 03814534 BUSINESS ADDRESS: STREET 1: 13800 MONTFORT DR STREET 2: SUITE 330 CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 9729918400 MAIL ADDRESS: STREET 1: 13800 MONTDORT DR STREET 2: SUITE 330 CITY: DALLAS STATE: TX ZIP: 75240 FORMER COMPANY: FORMER CONFORMED NAME: SCOTTISH HERITABLE INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: RANGAIRE CORP DATE OF NAME CHANGE: 19900405 FORMER COMPANY: FORMER CONFORMED NAME: ROBERTS MANUFACTURING CO INC DATE OF NAME CHANGE: 19690311 8-K 1 d07856e8vk.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 Date of Report (Date of earliest event reported) July 29, 2003 UNITED STATES LIME & MINERALS, INC. (Exact Name of Registrant as Specified in Charter) TEXAS 0-4197 75-0789226 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation or organization) Identification No.) 13800 MONTFORT DRIVE, SUITE 330, DALLAS, TEXAS 75240 (Address of principal executive offices) (Zip Code) (972) 991-8400 (Registrant's Telephone Number, Including Area Code) (Former Name or Former Address, if Changed Since Last Report) ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits EXHIBIT NUMBER EXHIBIT 99.1 News Release of United States Lime & Minerals, Inc. dated May 1, 2003 ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On July 29, 2003, United States Lime & Minerals, Inc. issued a News Release announcing the financial results for the quarter and six months ended June 30, 2003. A copy of the News Release is attached hereto as Exhibit 99.1. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, United States Lime & Minerals, Inc. has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: July 31, 2003 UNITED STATES LIME & MINERALS, INC. By: /s/ M. Michael Owens ---------------------------------------- M. Michael Owens, Vice President and Chief Financial Officer 1 EXHIBIT INDEX
EXHIBIT NUMBER EXHIBIT - ------ ------- 99.1 News Release of United States Lime & Minerals, Inc. dated July 29, 2003
EX-99.1 3 d07856exv99w1.txt NEWS RELEASE (UNITED STATES LIME & MINERALS, INC. LOGO) UNITED STATES LIME & MINERALS, INC. - NEWS RELEASE FOR IMMEDIATE RELEASE Contact: Timothy W. Byrne (972) 991-8400 UNITED STATES LIME & MINERALS REPORTS SECOND QUARTER 2003 RESULTS Dallas, Texas, July 29, 2003 - United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported second quarter 2003 results: Revenues increased by 5.2% to $11,529,000 over the prior year period revenues of $10,961,000. The Company reported net income of $1,813,000 ($0.31 per share) in the second quarter 2003, an increase of $1,297,000, compared to net income of $516,000 ($0.09 per share) in the second quarter 2002. For the six months ended June 30, 2003, revenues were $21,085,000, a 5.8% increase compared to the same period 2002 revenues of $19,938,000, while net income increased $1,495,000 to $1,541,000 ($0.27 per share), compared to net income of $46,000 ($0.01 per share) for the prior year period. Second quarter 2003 net income included embezzlement-related recoveries of $691,000 ($0.12 per share), net of income taxes, and the first half 2003 included $776,000 of such recoveries ($0.13 per share), net of income taxes. The Company's gross profit was $3,459,000 for the second quarter 2003, compared to $2,981,000 for the second quarter 2002, a 16.0% increase. For the first half 2003, gross profit was $5,208,000, compared to $4,818,000 for the first half 2002, an increase of 8.1%. "The increase in revenues in the second quarter 2003 primarily resulted from increased pulverized limestone ("PLS") sales at our Texas plant as well as the natural gas surcharge that we are assessing on our PLS products to help compensate for the elevated cost of natural gas," Timothy W. Byrne, President and Chief Executive Officer, commented. "Our increase in gross profit in the second quarter is primarily a function of the disappointing operating results that we experienced during the second quarter 2002 when we encountered several operational problems," Mr. Byrne continued. United States Lime & Minerals, Inc. is a Nasdaq-listed public company with headquarters in Dallas, Texas, supplying lime and limestone products primarily to the steel, paper, agriculture, environmental protection and construction industries from plants situated in Texas, Arkansas and Colorado. Any statements contained in this news release that are not statements of historical fact are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to publicly update or revise any forward-looking statements, and investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from expectations, including without limitation those risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission. (Tables Follow) UNITED STATES LIME & MINERALS, INC. CONDENSED CONSOLIDATED FINANCIAL DATA (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED)
QUARTER ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ---------------------- ---------------------- INCOME STATEMENTS 2003 2002 2003 2002 -------- -------- -------- -------- Revenues $ 11,529 $ 10,961 $ 21,085 $ 19,938 -------- -------- -------- -------- Gross profit $ 3,459 $ 2,981 $ 5,208 $ 4,818 -------- -------- -------- -------- Operating profit $ 2,472 $ 1,966 $ 3,161 $ 2,845 Interest expense 1,038 1,102 2,059 2,215 Other (income) expense, net (699) 195 (711) 573 Income tax expense 320 153 272 11 -------- -------- -------- -------- Net income $ 1,813 $ 516 $ 1,541 $ 46 ======== ======== ======== ======== Income per share of common stock: Basic $ 0.31 $ 0.09 $ 0.27 $ 0.01 Diluted $ 0.31 $ 0.09 $ 0.27 $ 0.01 Weighted average shares outstanding: Basic 5,800 5,800 5,800 5,800 Diluted 5,800 5,800 5,800 5,800
JUNE 30, DECEMBER 31, 2003 2002 -------- ------------ BALANCE SHEETS ASSETS: Current assets $13,261 $10,472 Property, plant and equipment, net 69,626 70,406 Deferred tax assets, net 2,359 2,359 Other assets 1,286 1,282 ------- ------- Total assets $86,532 $84,519 ======= ======= LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities $10,513 $ 7,958 Long-term debt, excluding current installments 35,833 37,500 Other liabilities 629 755 Stockholders' equity 39,557 38,306 ------- ------- Total liabilities and stockholders' equity $86,532 $84,519 ======= =======
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