-----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, CAClqCmYEj1ranwMk3CpmauWNKjxA+TTPgQ9LazyZIM3b9yY7axM5E4ZQ0O5J1wO rY9zOpJ5lIh+4vzRUC04tg== 0000083125-07-000013.txt : 20070420 0000083125-07-000013.hdr.sgml : 20070420 20070420163115 ACCESSION NUMBER: 0000083125-07-000013 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070418 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070420 DATE AS OF CHANGE: 20070420 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: 07779296 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 form8kapril.txt FORM 8-K FOR DECEMBER 31, 2006 YEAR END RESULTS 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): April 18, 2007 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 April 18, 2007, First Montauk Financial Corp. (the "Registrant") issued a press release announcing results for the fiscal year ended December 31, 2006. 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. dated 99.1 April 18, 2007. 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: April 20, 2007 EXHIBIT INDEX Exhibit Number Description ------- ----------- 99.1 Press Release dated April 18, 2007 EX-99 2 exapril.txt EXHIBIT 99.1 TO FORM 8-K Exhibit 99.1 FIRST MONTAUK ANNOUNCES REVENUE AND EARNINGS FOR 2006 Red Bank, NJ - April 18, 2007 - First Montauk Financial Corp. (OTC/BB: FMFK), a nationwide provider of investment services through independent financial professionals, today announced its financial results for the year ended December 31, 2006. Total revenues for 2006 were $50.9 million compared to $58.1 million in 2005. The 2005 revenues included recognition of $4.9 million of the remaining deferred revenue in connection with the termination of our Financial Agreement with Fiserv Securities, Inc., our prior clearing firm. The Company reported a net loss applicable to common shareholders of $1,005,000 or ($.06) per basic and diluted share for 2006, compared to net income applicable to common shareholders of $2,139,000 or $.15 per basic and $.12 per diluted share for 2005. Victor K. Kurylak, President and CEO of First Montauk Financial Corp., commented, "We saw several financial challenges in 2006, including extraordinary expenses related to our management restructuring and costs incurred in connection with our proposed merger. We also recognize the extraordinary opportunities ahead, and continue our steady and positive progress in improving our infrastructure by providing the highest quality service to our current affiliates. We are also strongly committed to introducing new product offerings in an effort to attract new, highly qualified financial professionals into our network. As we progress into 2007, we continue our focus to empower each of our affiliates to grow and manage a successful independent practice, which is the cornerstone and hallmark of our business strategy." 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 50,000 retail and institutional accounts. The Company's ability to offer quality support services, research, web-based information systems and a competitive commission payout structure has attracted approximately 245 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 in Part I and in Item 1A in the Company's Form 10-K for the year ended December 31, 2006, 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 CONSOLIDATED STATEMENTS OF OPERATIONS In 000's (except per share amounts) Years ended December 31, 2006 2005 ---- ---- Revenues $50,960 $58,084 Expenses 51,770 55,582 -------- ------- Net income (loss) before tax (810) 2,502 Income taxes 27 78 --- -- Net income (loss) $ (837) $ 2,424 ======== ======= Net income (loss) applicable to common stockholders $ (1,005) $ 2,139 ======== ======= Earnings (loss) per share: Basic $ (0.06) $ 0.15 ======== ======= Diluted $ (0.06) $ 0.12 ======== ======= Weighted average number of shares of stock outstanding Basic 17,004,254 14,032,057 Diluted 17,004,254 20,109,178
CONTACT: Victor K. Kurylak President, CEO 732-842-4700, ext. 4230 info@montaukfinancial.com www.montaukfinancial.com -----END PRIVACY-ENHANCED MESSAGE-----