-----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, MeP8v4P52xbKHFkO9hlkZjEneThsU3UsjEHt7a3mxtviT27Y5QVH8lNbCOAxccxx CTB/kZ80duiBbz/3RsQG9A== 0001157523-03-001935.txt : 20030514 0001157523-03-001935.hdr.sgml : 20030514 20030514162415 ACCESSION NUMBER: 0001157523-03-001935 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030514 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLACIER WATER SERVICES INC CENTRAL INDEX KEY: 0000883505 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-NONSTORE RETAILERS [5960] IRS NUMBER: 330493559 STATE OF INCORPORATION: DE FISCAL YEAR END: 1226 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11012 FILM NUMBER: 03699415 BUSINESS ADDRESS: STREET 1: 2651 LA MIRADA DRIVE, SUITE 100 CITY: VISTA STATE: CA ZIP: 92083-8435 BUSINESS PHONE: 7605601111 MAIL ADDRESS: STREET 1: 2651 LA MIRADA DRIVE, SUITE 100 CITY: VISTA STATE: CA ZIP: 92083-8435 8-K 1 a4396908.txt GLACIER WATER SERVICES 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): May 14, 2003 Glacier Water Services, Inc. (Exact Name of Registrant as Specified in Charter) Delaware ---------------------------------------------- (State or Other Jurisdiction of Incorporation) 1-11012 33-0493559 ---------------------- ------------------------------ (Commission File Number) (IRS Employer Identification No.) 2651 La Mirada Drive, Suite 100 Vista, California 92083-8435 -------------------------------------- ------------------ (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (760) 560-1111 Item 9. Regulation FD Disclosure. In accordance with guidance from the Securities and Exchange Commission in Release 33-8216, the following, required to be furnished under Item 12, is furnished under Item 9. On May 14, 2003, the registrant issued a press release, a copy of which is attached hereto as Exhibit A. This Form 8-K and the attached exhibit are provided under Item 12 of Form 8-K and are furnished to, but not filed with, the Commission. SIGNATURES 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. GLACIER WATER SERVICES, INC. Date: May 14, 2003 By: /s/ W. David Walters --------------------------------------- W. David Walters Senior Vice President, Chief Financial Officer and Secretary EX-99 3 a4396908_exa.txt GLACIER WATER SERVICES EXHIBIT A Exhibit A Glacier Water Announces First Quarter Results VISTA, Calif.--(BUSINESS WIRE)--May 14, 2003--Glacier Water Services Inc. (AMEX:HOO) announced results for the quarter ended March 30, 2003. Brian McInerney, chief executive officer of Glacier Water, said, "Glacier is off to a good start in 2003. For the first quarter, revenues increased 7.3% over the prior year to $16,533,000, with positive operating income of $538,000. We remain committed to returning the company to profitability." Revenues for the quarter ended March 30, 2003 increased 7.3% to $16,533,000 as compared to $15,409,000 for the same quarter a year ago. The revenue improvement was driven by volume increases and a $0.01 per gallon increase in average price. For the quarter ended March 30, 2003, the company's income from operations improved to $538,000 as compared to a loss of $1,007,000 for the same period a year ago. The loss from operations for last year included $889,000 of integration costs associated with the Pure Fill acquisition. The company's net loss applicable to common stockholders for the quarter ended March 30, 2003, was $968,000 or $0.34 per basic and diluted share, compared to a loss of $2,147,000 or $0.76 per basic and diluted share for the same period last year. With approximately 14,000 machines located in 37 states throughout the United States, Glacier is the leading provider of high quality, low-priced drinking water dispensed to consumers through self-service vending machines located at supermarkets and other retail locations. Statements in this announcement that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements with respect to the financial condition and results of operations of the company which involve risks and uncertainties which are detailed further in the filings of the company with the Securities and Exchange Commission, including, but not limited to, the company's Annual Report on Form 10-K for the year ended December 29, 2002. FINANCIAL RESULTS GLACIER WATER SERVICES INC. FIRST QUARTER 2003 Summary Financial Information (Dollars in thousands, except per share data) (unaudited) Three Months Ended -------------------- March March 30, 31, 2003 2002 -------------------- Revenues $16,533 $15,409 Operating costs and expenses: Operating expenses 10,670 9,985 Selling, general and administrative expenses 2,364 2,428 Depreciation and amortization 2,961 3,114 Integration and restructuring costs -- 889 -------------------- Total operating costs and expenses 15,995 16,416 -------------------- Income (loss) from operations 538 (1,007) Other expenses: Interest expense 1,450 1,461 Investment loss 24 17 -------------------- Total other expenses 1,474 1,478 -------------------- Loss before income taxes (936) (2,485) Income tax benefit -- (370) -------------------- Net loss (936) (2,115) Preferred stock dividends 32 32 -------------------- Net loss applicable to common stockholders $(968) $(2,147) ==================== Basic and diluted loss per share: Net loss $(0.33) $(0.75) Preferred stock dividends (0.01) (0.01) -------------------- Net loss applicable to common stockholders $(0.34) $(0.76) ==================== Weighted average shares used in calculation 2,857,293 2,834,474 ==================== CONTACT: Glacier Water Services Inc. W. David Walters, 760/560-1111 -----END PRIVACY-ENHANCED MESSAGE-----