-----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, OEepod6JaE67nNdBWYO/IwXfcf5H8wel+lnldsbF867SfieizZTP/h9ZkBq4w90w gwsMMbi2uxdNFJ7CxGWFBA== 0000903657-95-000011.txt : 19951121 0000903657-95-000011.hdr.sgml : 19951121 ACCESSION NUMBER: 0000903657-95-000011 CONFORMED SUBMISSION TYPE: 6-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951117 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: RUSSEL METALS INC CENTRAL INDEX KEY: 0000903657 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-METALS SERVICE CENTERS & OFFICES [5051] STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-22774 FILM NUMBER: 95594410 BUSINESS ADDRESS: STREET 1: 180 ATTWELL DR STE 400 STREET 2: TOBICOKE CITY: ONTARIO CANADA M9W 6 STATE: A6 BUSINESS PHONE: 4166758200 MAIL ADDRESS: STREET 1: 1900 MINNESOTA COURT STREET 2: SUITE 210 CITY: MISSISSAUGA ONTARIO STATE: A6 FORMER COMPANY: FORMER CONFORMED NAME: FEDERAL INDUSTRIES LTD DATE OF NAME CHANGE: 19930505 6-K/A 1 THE ACCOMPANYING FINANCIAL STATEMENTS ARE DESIGNED TO REPLACE THE FINANCIAL STATEMENTS FILED WITH THE 6K FORM FILED BY RUSSEL METALS ON NOVEMBER 16, 1995.
RUSSEL METALS INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) ($000) September 30, December 31, 1995 1994 Current assets Accounts receivable $217,166 $223,729 Income taxes recoverable 17,888 17,888 Inventories 239,992 239,629 Prepaid expenses and other assets 5,718 3,583 Current assets - discontinued operations 75,263 79,258 556,027 564,087 Fixed assets Property, plant and equipment 167,632 153,309 Property, plant and equipment - discontinued operations 65,137 68,549 232,769 221,858 Other assets Long-term receivable 32,432 34,245 Other investments 5,575 11,258 Deferred charges 12,330 14,233 Goodwill 12,359 11,471 Deferred income taxes 47,797 50,141 Other assets - discontinued operations 15,255 15,125 125,748 136,473 $914,544 $922,418 Current liabilities Bank indebtedness $ 94,079 $ 99,122 Accounts payable and accrued liabilities 188,226 170,543 Current portion of long-term debt 16,581 16,985 Current liabilities - discontinued operations 38,946 62,150 337,832 348,800 Long-Term Debt 184,759 191,388 Convertible Debentures and Shareholders' Equity 391,953 382,230 $914,544 $922,418 ON BEHALF OF THE BOARD, Director Director
RUSSEL METALS INC. CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) ($000, except for per share amounts and average shares outstanding) Quarter Ended Nine Months Ended Sept. 30, Sept. 30, 1995 1994 1995 1994 (Restated) (Restated) Sales and services $367,664 $361,896 $1,169,629 $982,793 Cost of sales and operating expenses 352,837 338,399 1,116,272 930,125 Interest on long-term debt 7,440 7,482 22,388 23,433 Other interest expense 2,905 1,185 10,452 2,224 Other expense (income) (387) 536 (394) 337 362,795 347,602 1,148,718 956,119 Earnings before income taxes 4,869 14,294 20,911 26,674 Provision for income taxes 2,290 6,766 9,264 12,628 Earnings from continuing operations 2,579 7,528 11,647 14,046 Loss from discontinued operations - net of related income taxes - (357) - (8,869) Net earnings for the period $ 2,579 $ 7,171 $ 11,647 $ 5,177 Earnings per common share from continuing operations Basic $0.04 $0.14 $0.20 $0.23 Fully diluted $0.04 $0.13 $0.20 $0.23 Net earnings per common share Basic $0.04 $0.14 $0.20 $0.05 Fully diluted $0.04 $0.13 $0.20 $0.05 Average shares outstanding 51,007,86448,761,417 51,007,864 48,761,417 RUSSEL METALS INC.
CONSOLIDATED STATEMENTS OF CHANGES IN FINANCIAL POSITION (UNAUDITED) Nine Months ended September 30 ($000) 1995 1994 (Restated) Operating activities Net earnings from continuing operations $11,647 $14,046 Depreciation and amortization 12,904 12,335 Deferred income taxes 2,277 10,681 Accrued revenue - deferred income taxes (763) (668) Loss (gain) on sale of fixed assets (394) 337 Cash from continuing operations 25,671 36,731 Changes in working capital items Accounts receivable 5,269 (51,334) Income taxes recoverable - 2,116 Inventories (16,797) (42,948) Accounts payable and accrued liabilities 28,007 8,403 Other (2,127) (980) Cash from (used in) continuing operating activities 40,023 (48,012) Financing activities Decrease in long-term debt (1,228) (30,759) (Increase) decrease in long-term receivable 2,576 (6,953) Issue of common shares - 80,396 Redemption of preferred shares - (55,000) Dividends (1,688) (2,898) Cash used in financing activities (340) (15,214) Investing activities Purchase of fixed assets (18,020) (10,071) Costs to rebuild dock (30,839) - Proceeds on sale of fixed assets 3,098 720 Proceeds on sale of subsidiary company 34,074 6,885 Purchase of subsidiary companies (4,857) (24,656) Other (2,169) (7,259) Cash used in investing activities (18,713) (34,381) Increase (decrease) in cash from continuing operations 20,970 (97,607) Cash from (used in) discontinued operations (15,927) 6,259 Increase (decrease) in cash 5,043 (91,348) Cash position, beginning of the period (99,122) 37,372 Cash position, end of the period $(94,079) $(53,976) NOTE: Cash position represents cash or bank indebtedness.
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