-----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, Kj5iYtn9jpjhHAJ4BofUcrbYzEBLIwCXymxl1u4yeYSUE5tvMx3tY9gbVUumEqoI Grpds0YAL5umsd4gryPSMQ== 0001157523-04-004628.txt : 20040510 0001157523-04-004628.hdr.sgml : 20040510 20040510160710 ACCESSION NUMBER: 0001157523-04-004628 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040510 ITEM INFORMATION: FILED AS OF DATE: 20040510 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: 04793246 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 a4637072.txt GLACIER WATER SERVICES, INC. - -------------------------------------------------------------------------------- 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 10, 2004 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 92081-8435 ---------------------------------- ---------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (760) 560-1111 - -------------------------------------------------------------------------------- Item 12. Results of Operations and Financial Condition. On May 10, 2004, 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 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 10, 2004 By: ------------------------------------- /s/ W. David Walters Senior Vice President, Chief Financial Officer and Secretary EX-99 2 a4637072-ex99.txt GLACIER WATER SERVICES PRESS RELEASE - EXHIBIT A EXHIBIT A Glacier Water Announces First Quarter Results VISTA, Calif.--(BUSINESS WIRE)--xx--Glacier Water Services Inc. (Amex:HOO) announced financial results for the quarter ended March 28, 2004. Brian McInerney, chief executive officer of Glacier Water, said, "The acquisition of Water Island during the forth quarter of 2003 and the successful integration of those locations provided positive momentum during the first quarter. Revenues increased 6.1% to $17,546,000, despite the impact of the California grocery strike during the first quarter." Revenues for the quarter ended March 28, 2004 increased $1,013,000 to $17,546,000 as compared to the same quarter a year ago. The revenue improvement was driven primarily by the acquisition of Water Island during the fourth quarter of 2003, offset by the impact of the retail grocer's strike in California. For the quarter ended March 28, 2004, the company's income from operations was $729,000 as compared to $538,000 for the same period a year ago. The improvement was driven by revenue growth and a reduction in depreciation and amortization expense as compared to the same quarter a year ago. The company's net loss applicable to common stockholders for the quarter ended March 28, 2004, was $1,201,000 or $0.57 per basic and diluted share, compared to a loss of $968,000 or $0.34 per basic and diluted share for the same quarter last year. The increase was driven primarily by the increased interest expense resulting from the increase in Trust Preferred Securities outstanding. With approximately 15,300 machines located in 39 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 28, 2003. Financial Results Glacier Water Services Inc. Summary Financial Information (Dollars in thousands, except share data) (unaudited) Three Months Ended ---------------------- March 28, March 30, 2004 2003 ---------------------- Revenues $17,546 $16,533 Operating costs and expenses: Operating expenses 11,676 10,670 Depreciation and amortization 2,510 2,961 ---------------------- Cost of goods sold 14,186 13,631 Selling, general and administrative expenses 2,631 2,364 ---------------------- Total operating costs and expenses 16,817 15,995 ---------------------- Income from operations 729 538 ---------------------- Other (income) expenses: Interest expense 1,930 1,450 Investment (income) expense -- 24 ---------------------- Total other expense 1,930 1,474 ---------------------- Loss before income taxes (1,201) (936) Income tax benefit -- -- ---------------------- Net loss (1,201) (936) Preferred dividends -- 32 ---------------------- Net loss applicable to common stockholders $(1,201) $(968) ====================== Basic and diluted loss per common share: Net loss applicable to common stockholders $(0.57) $(0.34) ====================== Weighted average shares used in calculation 2,119,483 2,857,293 CONTACT: Glacier Water Services Inc. W. David Walters, 760-560-1111 -----END PRIVACY-ENHANCED MESSAGE-----