-----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, OGJ/byWC8B1ydGtR3WsUAwBiw1q6GnTNzPaB5zhsntwcxUQmmCjVEnHFVWeMmFK0 PLvpqVHr3emN5FCoKpJLQA== /in/edgar/work/20000814/0000905722-00-500006/0000905722-00-500006.txt : 20000921 0000905722-00-500006.hdr.sgml : 20000921 ACCESSION NUMBER: 0000905722-00-500006 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HUNTCO INC CENTRAL INDEX KEY: 0000905722 STANDARD INDUSTRIAL CLASSIFICATION: [3312 ] IRS NUMBER: 431643751 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-13600 FILM NUMBER: 697126 BUSINESS ADDRESS: STREET 1: 14323 SOUTH OUTER FORTY STREET 2: STE 600 N CITY: TOWN & COUNTRY STATE: MO ZIP: 63017 BUSINESS PHONE: 3148780155 MAIL ADDRESS: STREET 1: 14323 S OUTER FORTY STREET 2: STE 600N CITY: TOWN & COUNTRY STATE: MO ZIP: 63017 10-Q 1 form10-q2.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) [x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2000, or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ------------------- ----------------------- Commission File Number: 1-13600 ------- HUNTCO INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) MISSOURI 43-1643751 - ------------------------------- ------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 14323 SOUTH OUTER FORTY, SUITE 600N, TOWN & COUNTRY, MISSOURI 63017 -------------------------------------------------------------------- (Address of principal executive offices) (314) 878-0155 -------------- (Registrant's telephone number, including area code) NOT APPLICABLE ---------------------- (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [ ] No As of July 31, 2000, the number of shares outstanding of each class of the Registrant's common stock was as follows: 5,292,000 shares of Class A common stock and 3,650,000 shares of Class B common stock. HUNTCO INC. INDEX PART I. FINANCIAL INFORMATION Item 1. Financial Statements Condensed Consolidated Balance Sheets June 30, 2000 (Unaudited) and December 31, 1999 (Audited) Condensed Consolidated Statements of Operations Six and Three Months Ended June 30, 2000 and 1999 (Unaudited) Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2000 and 1999 (Unaudited) Notes to Condensed Consolidated Financial Statements (Unaudited) Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Item 3. Quantitative and Qualitative Disclosures About Market Risk PART II. OTHER INFORMATION Item 2. Changes in Securities and Use of Proceeds Item 4. Submission of Matters to a Vote of Security Holders Item 6. Exhibits and Reports on Form 8-K PART I. FINANCIAL INFORMATION ----------------------------------- Item 1. Financial Statements ----------------------------------- HUNTCO INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)
June 30, December 31, 2000 1999 ---------- ----------- (unaudited) (audited) ASSETS Current assets: Cash $ 1,445 $ 414 Accounts receivable, net 39,161 41,835 Inventories 83,757 77,832 Other current assets 2,241 2,380 -------- -------- 126,604 122,461 Property, plant and equipment, net 120,290 123,548 Other assets 10,102 10,725 -------- -------- $256,996 $256,734 ======== ======== LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 39,765 $ 43,279 Accrued expenses 2,326 2,657 Current maturities of long-term debt 205 248 -------- -------- 42,296 46,184 -------- -------- Long-term debt 110,664 105,470 Deferred income taxes 817 1,166 -------- -------- 111,481 106,636 -------- -------- Shareholders' equity: Series A preferred stock (issued and outstanding, 225; stated at liquidation value) 4,500 4,500 Common stock: Class A (issued and outstanding, 5,292) 53 53 Class B (issued and outstanding, 3,650) 37 37 Additional paid-in-capital 86,530 86,530 Retained earnings 12,099 12,794 -------- -------- 103,219 103,914 -------- -------- $256,996 $256,734 ======== ======== See Accompanying Notes to Condensed Consolidated Financial Statements
HUNTCO INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except per share amounts)
Six Months Three Months Ended June 30 Ended June 30 2000 1999 2000 1999 ------- ------- ------- ------- Net sales $165,282 $181,239 $ 79,421 $ 90,863 Cost of sales 152,188 175,504 74,396 87,275 ------- ------- ------ ------ Gross profit 13,094 5,735 5,025 3,588 Selling, general and administrative expenses 8,965 10,208 4,418 5,419 ------- ------- ------ ------ Income (loss) from operations 4,129 (4,473) 607 (1,831) Interest, net (5,074) (5,007) (2,567) (2,810) ------- ------- ------ ------ Loss before income taxes (945) (9,480) (1,960) (4,641) Provision (benefit) for income taxes (351) (3,255) (741) (1,593) ------- ------- ------ ------ Net loss before extraordinary item (594) (6,225) (1,219) (3,048) Extraordinary item, net of tax - (2,644) - (2,644) ------- ------- ------ ------ Net loss (594) (8,869) (1,219) (5,692) Preferred dividends 100 100 50 50 ------- ------- ------ ------ Net loss available for common shareholders $ (694) $ (8,969) $(1,269) $(5,742) ======= ======= ====== ====== Earnings per common share (basic and diluted): Net loss before extraordinary item $ (.08) $ (.70) $ (.14) $ (.34) Extraordinary item, net of tax - (.30) - (.30) Net loss (.08) (1.00) (.14) (.64) Weighted average common shares outstanding: (Basic and diluted) 8,942 8,942 8,942 8,942 See Accompanying Notes to Condensed Consolidated Financial Statements
HUNTCO INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited, in thousands)
Six Months Ended June 30, 2000 1999 ------- ------- Cash flows from operating activities: Net loss $ (594) $(8,869) ------- ------- Adjustments to reconcile net loss to net cash (used) by operating activities: Depreciation and amortization 5,212 5,653 Loss on early extinguishment of debt - 4,067 Decrease (increase) in: accounts receivable 2,674 (112) inventories (5,926) 15,633 other current assets 139 145 other assets 131 219 Increase (decrease) in: accounts payable (3,514) (28,527) accrued expenses (331) (607) non-current deferred taxes (349) (4,212) Other (220) 8 ------- ------- Total adjustments (2,184) (7,733) ------- ------- Net cash (used) by operations (2,778) (16,602) ------- ------- Cash flows from investing activities: Acquisition of property, plant and equipment, net (874) (336) ------- ------- Cash flows from financing activities: Net proceeds from (payments on): Revolving credit facilities 4,926 59,867 Payments on other debt obligations (143) (442) Payments for debt issuance costs - (1,549) Retirement of long-term notes - (50,000) Debt repurchase premiums - (3,816) Issuance of short-term debt - 13,291 Dividends (100) (413) ------- ------- Net cash provided by financing activities 4,683 16,938 ------- ------- Net increase in cash 1,031 - Cash, beginning of period 414 21 ------- ------- Cash, end of period $ 1,445 $ 21 ======= ======= See Accompanying Notes to Condensed Consolidated Financial Statements
HUNTCO INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited, dollars in thousands, except per share amounts) ----------------------------------------------------------- 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The condensed consolidated balance sheet as of June 30, 2000, the condensed consolidated statements of operations for the six and three months ended June 30, 2000 and 1999, and the condensed consolidated statement of cash flows for the six months ended June 30, 2000 and 1999 have been prepared by Huntco Inc. and its subsidiaries (the "Company") without audit. In the opinion of management, all adjustments (which include only normal, recurring adjustments) necessary to present fairly the financial position at June 30, 2000, and the results of operations and cash flows for the interim periods presented have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted where inapplicable. A summary of the significant accounting policies followed by the Company is set forth in Note 1 to the Company's consolidated financial statements included within Item 8 to the Company's annual report on Form 10-K for the year ended December 31, 1999 (the "Form 10-K"), which Form 10-K was filed with the Securities and Exchange Commission on March 30, 2000. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 1999, included in the aforementioned Form 10-K. The results of operations for the periods ended June 30, 2000 are not necessarily indicative of the operating results for the full year. 2. INVENTORIES Inventories consisted of the following as of:
June 30, December 31, 2000 1999 ------- --------- Raw materials $ 63,893 $ 57,013 Finished goods 19,864 20,819 -------- -------- $ 83,757 $ 77,832 ======== ========
The Company classifies its inventory of cold rolled steel coils as finished goods, which coils can either be sold as master coils, without further processing, or may be slit, blanked or cut-to-length by the Company prior to final sale. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations - --------------------------------------------------------------------------- This Quarterly Report on Form 10-Q contains certain statements that are forward-looking and involve risks and uncertainties. Words such as "expects," "believes," and "anticipates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on current expectations and projections concerning the Company's plans for 2000 and about the steel processing industry in general, as well as assumptions made by Company management and are not guarantees of future performance. Therefore, actual events, outcomes, and results may differ materially from what is expressed or forecasted in such forward-looking statements. The Company encourages those who make use of this forward-looking data to make reference to a complete discussion of the factors which may cause the forward-looking data to differ materially from actual results, which discussion is contained under the title "Risk Factors - 2000 Outlook" included within Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, of the Company's annual report on Form 10-K for the year ended December 31, 1999, as filed with the Securities and Exchange Commission on March 30, 2000. RESULTS OF OPERATIONS Net sales were $79.4 million for the quarter ended June 30, 2000, a decrease of 12.6% in comparison to net sales of $90.9 million for the three months ended June 30, 1999. Net sales for the six months ended June 30, 2000 were $165.3 million, a decrease of 8.8% in comparison to net sales of $181.2 million for the six months ended June 30, 1999. The decrease in net sales for the three and six months ended June 30, 2000 was primarily attributable to the sale of the Company's former South Carolina facility, which sale took place during the 1999 fourth quarter, combined with somewhat lower year-over-year shipping volumes at the Company's continuing operations, especially late in the 2000 second quarter, partially offset by higher average selling prices. The former South Carolina facility contributed $7.4 million and $14.9 million in net sales in the three and six months ended June 30, 1999. The Company processed and shipped 249,059 and 512,198 tons of steel in the three and six months ended June 30, 2000, a decrease of 8.5% and 10.3%, respectively, in relation to continuing operations for the comparable periods of the prior year (i.e., exclusive of 1999 sales from the South Carolina facility). Average per ton selling values increased 14.6% and 11.9% during the three and six months ended June 30, 2000, in comparison to prior year levels, reflecting higher prices for hot rolled steel coils charged by the Company's suppliers and the resulting impact upon eventual sales transaction prices. Approximately 26.7% and 23.9% of the tons processed in the three and six months ended June 30, 2000 represented customer-owned material processed on a per ton, fee basis, versus tolling percentages of 21.1% and 23.7% in the comparable periods of the prior year. Processing customer-owned material generally results in lower revenues per ton, but higher gross profit expressed as a percentage of net sales, in comparison to when the Company processes and sells its own steel inventory. The Company's relative increase in toll processing is attributable to efforts to process greater amounts of customer-owned material into cold roll steel products at the Company's Blytheville, Arkansas facility. With respect to continuing efforts in this area, the Company recently revised its toll conversion contract with GalvPro L. P. to a direct steel sale contract. This is for the sale of full hard cold roll products to GalvPro's galvanizing facility located in Jeffersonville, Indiana. The Company had previously contracted with GalvPro to provide 4,000 to 6,000 tons per month of full hard cold roll production to GalvPro on a tolling basis through November 2000, which business began sporadically in the first half of 2000. This supply arrangement has been extended for an additional twelve-month period beginning in December 2000 on a direct sales basis, with volumes expected to range from 6,000 to 9,000 tons per month as this contractual relationship matures, with pricing for such business established quarterly. Gross profit expressed as a percentage of net sales was 6.3% and 7.9% for the three and six months ended June 30, 2000, which compares to 3.9% and 3.2% for the comparable periods of 1999, respectively. The higher year-over-year gross profit margins reflect the negative impact of steel selling price declines in the first half of 1999, especially in cold rolled steel products. The lower gross profit margin realized in the quarter ended June 30, 2000, versus that realized year-to-date, is due to falling prices for hot rolled products and weaker demand across all product lines, especially during the month of June 2000, as customers appear to be liquidating inventory positions. Demand for cold rolled steel was also negatively impacted during the second quarter with the decision of the International Trade Commission not to follow the Commerce Department's preliminary finding to impose duties on the import of cold rolled steel coils from twelve different countries. Without the continuing concern that cold rolled steel products would be difficult to obtain, the ruling appears to have prompted customers to reduce safety stock positions of such cold rolled steel inventory. The Company anticipates such inventory corrections will continue into the third quarter, which is expected to reduce the demand for the Company's products during this time period. These pressures on operating margins have continued into the third quarter of 2000, with the seasonal effect of summer slow downs further dampening demand. Selling, general and administrative ("SG&A") expenses of $4.4 million and $9.0 million for the three and six months ended June 30, 2000, reflect decreases of $1.0 million and $1.2 million over the comparable periods of the prior year. These decreases are primarily attributable to the elimination of SG&A costs incurred to operate the Company's former South Carolina facility during the six months ended June 30, 1999. SG&A expenses, when expressed as a percentage of net sales, decreased from 6.0% and 5.6% during the three and six months ended June 30, 1999, to 5.6% and 5.4% of net sales during the three and six months ended June 30, 2000, as the Company is concentrating efforts at reducing its overhead. The Company generated income from operations of $.6 million and $4.1 million during the three and six months ended June 30, 2000, which compares to a loss from operations of $1.8 million and $4.5 million as reported for the corresponding periods of the prior year. These improvements reflect the factors discussed in the preceding paragraphs. In addition, during the 1999 third quarter, the Company disposed of its metal stamping business conducted at its Blytheville facility. The Company incurred operating losses of $.7 million and $1.0 million in its stamping operations during the three and six months ended June 30, 1999. Net interest expense of $2.6 million and $5.1 million was incurred during the three and six months ended June 30, 2000, versus $2.8 million and $5.0 million for the comparable periods of the prior year. The decrease in the three months ended June 30, 2000 versus the comparable period in 1999 is attributable to lower levels of corporate borrowings during 2000, partially offset by higher interest rates during 2000. The Company's borrowings were higher in the quarter ended June 30, 1999 versus 2000, in support of higher inventory levels and financing associated with operating the Company's former South Carolina facility during 1999. The increase for the six months ended June 30, 2000 versus the comparable period in 1999 is due to higher average interest rates charged during 2000 on the Company's average outstanding debt obligations during 2000 versus 1999. The Company did not capitalize any interest for the first six months of 1999 or 2000. The effective income tax benefit rates experienced by the Company were 37.8% and 37.1% during the three and six months ended June 30, 2000, which rates increased from the 34.3% effective income tax rates recognized during the comparable periods of the prior year. The lower effective income tax benefit rates recognized during the prior year reflects the lower benefit associated with higher losses incurred by the Company during 1999. The Company incurred a $2.6 million extraordinary charge, net of income tax benefits of approximately $1.4 million related to the early retirement of its primary long-term debt obligations on April 15, 1999. The Company reported a net loss available for common shareholders for the 2000 second quarter of $1.3 million ($.14 per share both basic and diluted), which compares to a net loss for common shareholders for the 1999 second quarter of $5.7 million ($.64 per share both basic and diluted), which included the extraordinary charge of $2.6 million ($.30 per share both basic and diluted) referred to above. These changes reflect the factors discussed in the preceding paragraphs. The Company reported a net loss available for common shareholders for the six months ended June 30, 2000 of $.7 million ($.08 per share both basic and diluted), which compares to a net loss of $9.0 million for the six months ended June 30, 1999 ($1.00 per share both basic and diluted), which includes the extraordinary charge referred to above. These changes reflect the factors discussed in the preceding paragraphs. LIQUIDITY AND CAPITAL RESOURCES The Company used $3.0 million and $16.6 million of cash from operating activities during the six months ended June 30, 2000 and 1999, respectively. During 2000, cash was used in operations to reduce accounts payable and in support of slightly higher inventory levels, given the slower business activity experienced by the Company near the end of the second quarter of 2000. The Company is reacting to such slower business activity by way of adjusting its purchasing pattern for the balance of 2000 towards increasing inventory turns and reducing overall inventory levels by approximately 20% by the end of the year. During 1999, the Company's use of cash from operations was driven by a $28.5 million reduction in trade accounts payable, partially offset by a $15.6 million reduction in inventory. The Company's inventories peaked near the end of the first quarter of 1999, and management focused on increasing inventory turns and better managing inventory levels. The Company's investment in accounts receivable decreased by $2.7 million for the first half of 2000, versus an increase of $.1 million for the six months ended June 30, 1999. The current year decrease is primarily due to a reduction in shipping volumes late in the second quarter. The Company used relatively limited amounts of funds for capital expenditures during the six months ended June 30, 2000 and 1999, investing $.9 million and $.3 million, respectively. The Company funded its operating and investing activities for the six months ended June 30, 2000 and 1999 by way of corporate borrowings, primarily on its asset-based revolving credit facility which was entered into on April 15, 1999. During 1999, the Company incurred a prepayment penalty of approximately $3.8 million to retire its former long-term debt obligations. The Company also incurred approximately $1.5 million in costs to enter into the asset- based revolving credit facility during 1999. Total borrowings under the Company's asset-based revolving credit facility were approximately $110.1 million at June 30, 2000. The maximum amount of borrowings available to the Company under the revolver is based upon percentages of eligible accounts receivable and inventory, as well as amounts attributable to selected fixed assets of the Company. Close attention is given to managing the liquidity afforded under the Company's asset-based revolving credit agreement, which availability was relatively limited as of June 30, 2000. The Company has also accessed capital by way of off balance sheet financing arrangements. The Company has entered into various operating leases for steel processing and other equipment at certain of its facilities. Subsequent to the first quarter 1999 common dividend of $.3 million, the Company suspended the payment of common dividends. Future common dividends may or may not be declared, at the discretion of the Board of Directors, depending on restrictions imposed by the Company's revolving credit agreement, industry conditions, evaluation of the Company's performance and current liquidity situation. The Company's operations, including its effort to reduce the amount of working capital necessary to support its ongoing sales activities, unused borrowing capacity, and access to additional operating lease financings are expected to generate sufficient funds to meet the Company's working capital commitments, debt service requirements, necessary capital expenditures, and payment of the Series A preferred stock dividends over the next twelve months. The Company maintains the flexibility to issue additional equity in the form of Class A common stock or additional series of preferred stock junior to the Series A preferred stock if and when market circumstances dictate. The Company, from time-to-time, also explores financing alternatives such as the possibility of issuing additional debt, entering into further operating lease financings, and pursuing strategic alternatives. The Company also continues to evaluate its business with the intent to streamline operations, improve productivity and reduce costs. Item 3. Quantitative and Qualitative Disclosures About Market Risk - ------------------------------------------------------------------- INTEREST RATE RISK In the ordinary course of business, the Company is exposed to interest rate risks by way of changes in short-term interest rates. The Company has currently elected not to hedge the market risk associated with its floating rate debt. As of June 30, 2000, $110.1 million of the Company's debt obligations bear interest at variable rates. Accordingly, the Company's earnings and cash flow are affected by changes in interest rates. Assuming the current level of borrowings at variable rates and assuming a one-half point increase in average interest rates under these borrowings, it is estimated that the Company's annual interest expense would increase by approximately $.6 million. In the event of an adverse change in interest rates, management would likely take actions to mitigate the Company's exposure to interest rate risk. However, due to the variety of actions that could be taken depending on the circumstances and the different effects that could result based on the action taken, management cannot predict the results of an adverse change in interest rates. Further, this analysis does not consider the effects of the change in the level of overall economic activity that could exist in such an environment. The Company does not have any significant amount of export sales denominated in foreign currencies, and acquires its raw material supply needs in U.S. dollar denominated transactions. Therefore, the Company is not viewed as being exposed to foreign currency fluctuation market risks. In addition, although the Company both acquires and sells carbon steel coils and products, no commodity exchange exists that the Company might access to hedge its risk to carbon steel price fluctuations. The Company has no material derivative financial instruments as of June 30, 2000, and does not enter into derivative financial instruments for trading purposes. PART II. OTHER INFORMATION - ----------------------------- Item 2. Changes in Securities and Use of Proceeds - ----------------------------------------------------- Under the terms of the Company's revolving credit agreement, the Company's ability to declare common dividends is subject to the current liquidity situation of the Company. Item 4. Submission of Matters to a Vote of Security Holders - --------------------------------------------------------------- (a) The Company held its annual meeting of shareholders on May 4, 2000. (b) The following directors were elected to serve terms of three years, with such terms to expire in 2003: Donald E. Brandt and Michael M. McCarthy. The remaining directors include James J. Gavin, Jr., whose term expires in 2001; and B. D. Hunter and Robert J. Marischen, whose terms expire in 2002. (c) With respect to the vote for directors, Messrs. Brandt and McCarthy received 41,591,517 and 41,591,717 votes, respectively, in favor of election, with 27,701 and 27,501 votes withheld. Brokers were permitted to vote on the election of directors in the absence of instructions from street name holders; broker non-votes did not occur in this matter. (d) Not applicable. Item 6. Exhibits and Reports on Form 8-K - -------------------------------------------- (a) See the Exhibit Index included herein. (b) Reports on Form 8-K: The Company filed a Form 8-K on April 12, 2000, which filing discussed under Item 5, "Other Events", the Company's earnings for the three months ended March 31, 2000, and provided certain forward-looking data for the year ending December 31, 2000. ****************** 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 thereunto duly authorized. HUNTCO INC. (Registrant) Date: August 14, 2000 By: /s/ ANTHONY J. VERKRUYSE ----------------------- Anthony J. Verkruyse, Vice President and Chief Financial Officer (on behalf of the Registrant and as principal financial officer) EXHIBIT INDEX These Exhibits are numbered in accordance with the Exhibit Table of Item 601 of Regulation S-K. 2: Omitted - not applicable. 3: Omitted - not applicable. 4: Omitted - not applicable. 10: Omitted - not applicable. 11: Omitted - not applicable. 15: Omitted - not applicable. 18: Omitted - not applicable. 19: Omitted - not applicable. 22: Omitted - not applicable. 23: Omitted - not applicable. 24: Omitted - not applicable. 27: Financial Data Schedule. 99: Omitted - not applicable. EX-27 2 fds2q00.xfd
5 This schedule contains summary financial information extracted from the consolidated financial statements and notes thereto of Huntco Inc. at and for the six months ended June 30, 2000 and is qualified in its entirety by reference to such financial statements. 1,000 U.S.DOLLARS 6-MOS Jan-01-2000 Dec-31-2000 Jun-30-2000 1 1,445 0 39,606 444 83,757 126,605 168,976 48,686 256,996 42,296 110,664 0 4,500 90 98,629 256,996 165,282 165,282 152,188 152,188 0 120 5,074 (945) (350) (594) 0 0 0 (594) (0.08) (0.08)
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