-----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, WXKQIFjn54jfWMaegkukegybLPrFQJpqCZ/tH6zRTMz0kUUSVkk5orrC6dZ8l4Wo /+CZy9z2dnxU7I2fgAEo1A== 0001157523-05-007371.txt : 20050812 0001157523-05-007371.hdr.sgml : 20050812 20050811203031 ACCESSION NUMBER: 0001157523-05-007371 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050811 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050812 DATE AS OF CHANGE: 20050811 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: 051018888 BUSINESS ADDRESS: STREET 1: 1385 PARK CENTER DRIVE CITY: VISTA STATE: CA ZIP: 92081-8338 BUSINESS PHONE: 7605601111 MAIL ADDRESS: STREET 1: 1385 PARK CENTER DRIVE CITY: VISTA STATE: CA ZIP: 92081-8338 8-K 1 a4950911.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): August 11, 2005 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.) 1385 Park Center Drive Vista, California 92081-8338 -------------------------------- -------------------------------- (Address of Principal (Zip Code) Executive Offices) Registrant's telephone number, including area code: (760) 560-1111 ================================================================================ Item 2.02 Results of Operations and Financial Condition. On August 11, 2005, the registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1. 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: August 11, 2005 By: /s/ W. David Walters -------------------------------------- W. David Walters Senior Vice President, Chief Financial Officer and Secretary EX-99.1 2 a4950911ex99_1.txt EXHIBIT 99.1 - PRESS RELEASE Exhibit 99.1 Glacier Water Announces Second Quarter Results VISTA, Calif.--(BUSINESS WIRE)--Aug. 11, 2005--Glacier Water Services, Inc. (AMEX: HOO) announced results for the quarter ended July 3, 2005. Brian McInerney, Chief Executive Officer of Glacier Water, said, "We continue to move forward with the installation of our new 'G-2' machines and revenues for the second quarter were up 1.6% versus last year. We are particularly excited about the impact of the new machines. On a same store basis, revenues for the G-2 machines were up 10% for the second quarter as compared to the same period last year. As of the end of the second quarter, Glacier had installed over 9,300 machines at retailers across the United States." Revenues for the quarter ended July 3, 2005 increased 1.6% to $19,563,000 compared to $19,246,000 for the same quarter a year ago. For the six-month period ended July 3, 2005 revenues increased 0.9% to $37,106,000 compared to 36,791,000 for the same period a year ago. The increase in revenues for both the quarter and the six-month period was primarily the result of the installation of the new machines. The Company's income from operations for the quarter ended July 3, 2005 was $831,000 compared to $1,724,000 for same period last year. For the six-month period ended July 3, 2005, income from operations was $937,000 compared to $2,453,000 for the same period last year. Lower income from operations in both the three- and six-month periods this year compared to last year was the result of increased depreciation and amortization, primarily the result of the capital expenditures related to the new G-2 machines. The Company's net loss applicable to common stockholders for the quarter ended July 3, 2005, was $1,304,000, or $0.58 per basic and diluted share, compared to a loss of $182,000, or $0.09 per basic and diluted share, for the same period last year. For the six-month period ended July 3, 2005, the net loss applicable to common stockholders was $3,277,000, or $1.48 per basic and diluted share, compared to a loss of $1,382,000, or $0.65 per basic and diluted share, for the same period last year. With approximately 15,100 machines located in 40 states throughout the United States, Glacier is the leading provider of high quality, low-priced drinking water dispensed to consumers through self-service bottled water 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 January 2, 2005. FINANCIAL RESULTS GLACIER WATER SERVICES, INC. - ----------------- SECOND QUARTER 2005 ------------------- Consolidated Statements of Operations (Dollars in thousands, except shares and per share data) (unaudited) Three Months Ended Six Months Ended ----------------------- ----------------------- July 3, June 27, July 3, June 27, 2005 2004 2005 2004 ---------- ---------- ---------- ---------- Revenues $ 19,563 $ 19,246 $ 37,106 $ 36,791 Operating costs and expenses: Operating expenses 12,555 12,158 23,989 23,833 Depreciation and amortization 3,459 2,590 6,761 5,100 ---------- ---------- ---------- ---------- Cost of goods sold 16,014 14,748 30,750 28,933 Selling, general and administrative expenses 2,718 2,774 5,419 5,405 ---------- ---------- ---------- ---------- Total operating costs and expenses 18,732 17,522 36,169 34,338 ---------- ---------- ---------- ---------- Income from operations 831 1,724 937 2,453 Other expenses: Interest expense 2,135 1,906 4,214 3,835 ---------- ---------- ---------- ---------- Loss before income taxes (1,304) (182) (3,277) (1,382) Income tax benefit -- -- -- -- ---------- ---------- ---------- ---------- Net loss (1,304) (182) (3,277) (1,382) ========== ========== ========== ========== Basic and diluted loss per common share: Net loss applicable to common stockholders $ (0.58) $ (0.09) $ (1.48) $ (0.65) ========== ========== ========== ========== Weighted average shares used in calculation 2,243,656 2,119,790 2,207,856 2,119,637 CONTACT: Glacier Water Services, Inc. W. David Walters, 760-560-1111 -----END PRIVACY-ENHANCED MESSAGE-----