-----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, JY3swfK7cKILNJMBGt5utPN6R7ubo7HZAGpVng5cEBErTXqXoXmfLE4QXaO9ScGp wDjQDCB0mDuBcdGAYoPGQQ== 0000083125-05-000034.txt : 20050804 0000083125-05-000034.hdr.sgml : 20050804 20050804105801 ACCESSION NUMBER: 0000083125-05-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050803 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050804 DATE AS OF CHANGE: 20050804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST MONTAUK FINANCIAL CORP CENTRAL INDEX KEY: 0000083125 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 221737915 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-06729 FILM NUMBER: 05998065 BUSINESS ADDRESS: STREET 1: 328 NEWMAN SPRINGS RD STREET 2: PKWY 109 OFFICE CTR CITY: RED BANK STATE: NJ ZIP: 07701 BUSINESS PHONE: 7328424700 MAIL ADDRESS: STREET 1: 328 NEWMAN SPRINGS RD STREET 2: PKWY 109 OFFICE CTR CITY: RED BANK STATE: NJ ZIP: 07701 FORMER COMPANY: FORMER CONFORMED NAME: MCC PRESIDENTIAL INC DATE OF NAME CHANGE: 19871203 FORMER COMPANY: FORMER CONFORMED NAME: RENAULT WINERY INC DATE OF NAME CHANGE: 19740725 FORMER COMPANY: FORMER CONFORMED NAME: PRESIDENTIAL APARTMENTS INC DATE OF NAME CHANGE: 19740327 8-K 1 form8k2qtraug2005.txt FORM 8-K DATE OF REPORT 8/4/05 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): August 4, 2005 FIRST MONTAUK FINANCIAL CORP. ----------------------------- (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER: 0-6729 ------ NEW JERSEY 22-1737915 ---------- ---------- (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) Parkway 109 Office Center 328 Newman Springs Road Red Bank, NJ 07701 (Address and zip code of principal executive offices) (732) 842-4700 (Registrant's telephone number, including area code) 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 240.13e-4(c)) 1 of 2 Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On August 3, 2005, First Montauk Financial Corp. (the "Registrant") issued a press release announcing results for the fiscal quarter ended June 30, 2005. A copy of the press release is attached as exhibit 99.1. The information in this report shall not be deemed to be "filed" for purposes of Section 18 of, or otherwise regarded as filed under, the Securities Exchange Act of 1934, as amended. Unless expressly incorporated into a filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, made after the date hereof, the information contained herein shall not be incorporated by reference into any filing of the Registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing. Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS Exhibit Press Release of First Montauk Financial Corp. 99.1 dated August 3, 2005. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. FIRST MONTAUK FINANCIAL CORP. By: /s/ Victor K. Kurylak ------------------------------ Name: Victor K. Kurylak Title: Chief Executive Officer Date: August 4, 2005 EXHIBIT INDEX Exhibit Description Number ------ 99.1 Press Release of First Montauk Financial Corp. dated August 3, 2005. Exhibit 99.1 [GRAPHIC OMITTED] FIRST MONTAUK ANNOUNCES SECOND QUARTER AND SIX MONTH EARNINGS FOR 2005 Red Bank, NJ - August 3, 2005 - First Montauk Financial Corp. (OTC/BB: FMFK), a nationwide provider of investment services through independent financial professionals, today announced financial results for the second quarter and six months ended June 30, 2005. Revenues for the second quarter of 2005 increased 16% to $16.6 million, compared to $14.2 million for the second quarter of 2004. Included in the total revenue for the second quarter of 2005 is a one-time recognition of deferred revenue of $4.9 million in connection with the termination of Montauk's financial agreement with Fiserv Securities, Inc., our prior clearing firm. The Company also reported an increase in net income applicable to common stockholders of $3,989,000, or $0.28 per basic share and $0.20 per diluted share for the second quarter. This compares to $2,000 or $0.00 per basic and diluted share for the second quarter of 2004. The Company's revenues for the first half of 2005 decreased 3% to $32.1 million, compared to $33 million for the same six-month period in 2004. The Company reported a net income applicable to common stockholders of $3,578,000, or $0.27 per basic share and $0.19 per diluted share during the first six months of 2004. This compares to a net income applicable to common stockholders of $217,000, or $.02 per basic and diluted share during the same period in 2004. Victor K. Kurylak, President and CEO of Montauk Financial Group, commented, "Despite investor uncertainties about rising interest rates and higher oil prices, our performance for the second quarter and first half of 2005 continues to reflect positively on our efforts to return Montauk Financial Group to sustained profitability. We continue to focus on cost containment, business risk management and alternative revenue streams while we expand our efforts to attract new affiliates to our brokerage network. We have seen dramatic improvement in our financial condition during 2005 resulting from our core profitability, reduction in our outstanding debt and conversion to our new clearing firm." Montauk Financial Group is a service mark of First Montauk Securities Corp., Member NASD/SIPC. First Montauk Financial Corp. is the parent company of First Montauk Securities Corp., a registered securities broker/dealer headquartered in Red Bank, NJ, with approximately 60,000 retail and institutional accounts. The Company's ability to offer quality support services, research advanced networked information systems and a competitive commission payout structure has attracted approximately 330 independent, professional registered representatives across the country. Additional information is available at the Company's website at www.montaukfinancial.com. Statements contained in this news release regarding expected financial results of the Company and First Montauk Securities Corp., are forward-looking statements, subject to uncertainties and risks, many of which are beyond the Company's control, including, but not limited to, market conditions, interest rate and currency fluctuations, dependence on key personnel, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Factors Affecting Forward Looking Statements" in the Company's Form 10-Q for the first quarter ended June 30, 2005 as filed with the Securities and Exchange Commission. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance. FIRST MONTAUK FINANCIAL CORP. AND SUBSIDIARIES SELECTED FINANCIAL DATA In 000's (except for per share amounts) Six months Three months Ended June 30, Ended June 30, 2005 2004 2005 2004 (unaudited) (unaudited) (unaudited) (unaudited) Revenues $32,146 $33,063 $16,581 $14,242 ------- ------ ------ ------ Expenses 28,306 32,778 12,028 14,221 ------ ------ ------ ------ Net income $ 3,821 $ 263 $ 4,197 $ 25 ====== ====== ====== ====== Net income $ 3,578 $ 217 $ 3,989 $ 2 ====== ====== ====== ====== applicable to common stockholders Per share of common stock: Basic $ 0.27 $ 0.02 $ 0.28 $ (0.00) ====== ====== ====== ====== Diluted $ 0.19 $ 0.02 $ 0.20 $ (0.00) ====== ====== ====== ====== Number of common shares used net income per share: Basic 13,421,349 9,598,100 14,411,053 9,587,133 ========== ========= ========== ========= Diluted 20,251,184 16,048,897 21,251,791 9,738,345 ========== ========== ========== =========
Contacts: Montauk Financial Group Montauk Financial Group Victor K. Kurylak Katy Paul President and CEO Corporate Communications 732-842-4700, ext. 4230 732-842-4700, ext. 4220 info@montaukfinancial.com -----END PRIVACY-ENHANCED MESSAGE-----