-----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, FZNHp2/Y2QFVW8h6xhrgEkqePSr4+EP2xIgvgE6JzME1EjpcCS+bJYcD3wUsVdLr HHn4CLvHu22UeuwQz5oNdQ== 0000088121-04-000018.txt : 20041105 0000088121-04-000018.hdr.sgml : 20041105 20041105161201 ACCESSION NUMBER: 0000088121-04-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041105 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041105 DATE AS OF CHANGE: 20041105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEABOARD CORP /DE/ CENTRAL INDEX KEY: 0000088121 STANDARD INDUSTRIAL CLASSIFICATION: MEAT PACKING PLANTS [2011] IRS NUMBER: 042260388 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03390 FILM NUMBER: 041122987 BUSINESS ADDRESS: STREET 1: 9000 W. 67TH STREET CITY: SHAWNEE MISSION STATE: KS ZIP: 66202 BUSINESS PHONE: 9136768800 MAIL ADDRESS: STREET 1: 9000 W. 67TH STREET CITY: SHAWNEE MISSION STATE: KS ZIP: 66202 FORMER COMPANY: FORMER CONFORMED NAME: SEABOARD ALLIED MILLING CORP DATE OF NAME CHANGE: 19820328 FORMER COMPANY: FORMER CONFORMED NAME: HATHAWAY BAKERIES INC DATE OF NAME CHANGE: 19710315 8-K 1 k811504.txt SEABOARD CORPORATION 8-K DATED NOVEMBER 5, 2004 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 5, 2004 Seaboard Corporation (Exact name of registrant as specified in its charter) Delaware 1-3390 04-2260388 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 9000 W. 67th Street, Shawnee Mission, Kansas 66202 (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code) (913) 676-8800 Not Applicable (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-120 under the Exchange Act (17CFR 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)) Item 2.02. Results of Operations and Financial Condition On November 5, 2004, Registrant issued a press release announcing earnings for the quarter ended October 2, 2004. The full text of this press release is included as exhibit 99.1 and incorporated by reference in this Current Report on Form 8-K. Item 9.01. Financial Statements and Exhibits (c) Exhibits Registrant hereby furnishes the following exhibit pursuant to Item 2.02: 99.1 Press release of Seaboard Corporation dated November 5, 2004 announcing earnings for the third quarter ended October 2, 2004. 1 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 thereunto duly authorized. DATE: November 5, 2004 Seaboard Corporation by: /s/ Robert L. Steer Robert L. Steer, Senior Vice President, Treasurer and Chief Financial Officer 2 EX-99.1 2 ex99-1.txt PRESS RELEASE OF SEABOARD CORPORATION Exhibit 99.1 PRESS RELEASE REPORT OF EARNINGS November 5, 2004 Shawnee Mission, Kansas The following is a report of earnings for Seaboard Corporation (AMEX symbol: SEB) with offices at 9000 West 67th Street, Shawnee Mission, Kansas 66202, (the "Company"), for the three and nine months ended October 2, 2004 and September 27, 2003, in thousands of dollars except per share amounts. Three Months Ended Nine Months Ended October 2, September 27, October 2, September 27, 2004 2003 2004 2003 Net sales $ 667,462 $ 485,417 $1,995,444 $1,433,167 Earnings (loss) before cumulative effect of changes in accounting principles 46,548 1,838 108,181 (2,011) Cumulative effect of changes in accounting for asset retirement obligations and drydock accruals, net of income tax expense of $550 - - - 3,648 Net earnings $ 46,548 $ 1,838 $ 108,181 $ 1,637 Earnings (loss) per share before cumulative effect of changes in accounting principles $ 37.09 $ 1.46 $ 86.20 $ (1.60) Cumulative effect of changes in accounting for asset retirement obligations and drydock accruals - - - 2.90 Net earnings per common share $ 37.09 $ 1.46 $ 86.20 $ 1.30 Average number of shares outstanding 1,255,054 1,255,054 1,255,054 1,255,054 Notes to Report of Earnings: Effective January 1, 2003, the Company adopted Statement of Financial Accounting Standard No. 143, which required the Company to record a long- lived asset and related liability for asset retirement obligation costs associated with the closure of the hog lagoons it is legally obligated to close. Accordingly, during the first quarter of 2003, the Company recorded the cumulative effect of the change in accounting principle with a charge to earnings of $2,195,000 ($1,339,000 net of tax) or $1.07 per common share. Additionally, effective January 1, 2003, the Company changed its method of accounting for the scheduled drydock of vessels from the accrue-in-advance method to the direct-expense method. As a result, during the first quarter of 2003, the Company reversed the balance of the accrued liability for drydock maintenance as of December 31, 2002, resulting in an increase in earnings of $6,393,000 ($4,987,000 net of tax) or $3.97 per common share. During the three and nine months ended September 27, 2003, Seaboard recorded its share of losses from its 20%-owned equity investment in Fjord Seafood ASA totaling $13,420,000 and $16,256,000, respectively, including third quarter charges totaling $12,421,000 reflecting Fjord's asset impairment charges to write down licenses, inventory and fixed assets. This investment was sold during the fourth quarter of 2003. -----END PRIVACY-ENHANCED MESSAGE-----