-----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, WEAWd/ZJlT0xcNR9XoXl51IUe8rrdpdVKGAguU39pFLjOCv2zXr1HVUauyP6nkFh gq/Azc9VkniVeMYGL0HOrg== 0000891092-04-005265.txt : 20041101 0000891092-04-005265.hdr.sgml : 20041101 20041101164512 ACCESSION NUMBER: 0000891092-04-005265 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041101 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041101 DATE AS OF CHANGE: 20041101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STILLWATER MINING CO /DE/ CENTRAL INDEX KEY: 0000931948 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS METAL ORES [1090] IRS NUMBER: 810480654 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13053 FILM NUMBER: 041110432 BUSINESS ADDRESS: STREET 1: 536 E PIKE STREET 2: 536 E PIKE CITY: COLUMBUS STATE: MT ZIP: 59019 BUSINESS PHONE: 4063228700 MAIL ADDRESS: STREET 1: PO BOX 1330 STREET 2: PO BOX 1330 CITY: COLUMBUS STATE: MT ZIP: 59019 8-K 1 e19556_8k.txt FORM 8-K EFFECTIVE AUGUST 23RD, 2004 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) November 1, 2004 Stillwater Mining Company - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-13053 81-0480654 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 536 East Pike Avenue, Columbus, Montana 59019 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (406) 322-8700 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) EXPLANATORY NOTE This Form 8-K/A is filed to amend and supplement the Form 8-K (the "Original 8-K") filed with the Securities and Exchange Commission on November 1, 2004 by Stillwater Mining Company (the "Company"). Item 2.02. Results of Operation and Financial Condition. Item 2.02 of the Original 8-K is hereby amended and supplemented by adding the following paragraph at the end thereof: On November 1, 2004, the Company issued a press release amending certain information provided in its press release issued earlier that day. Such second November 1, 2004 press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference in its entirety. Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits: 99.1 Press release issued on November 1, 2004 by the Company. 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. Stillwater Mining Company Date November 1, 2004 /s/ John R. Stark ------------------------------- John R. Stark Title: Vice President, Secretary and General Counsel EXHIBITS 99.1 Press Release issued on November 1, 2004 by Stillwater Mining Company. EX-99.1 2 e19556ex99_1.txt PRESS RELEASE Exhibit 99.1 Stillwater Mining Announces Amendment to 2004 Third Quarter Results Amended Consolidated Statement of Cash Flows COLUMBUS, Mont., Nov. 1 /PRNewswire-FirstCall/ -- STILLWATER MINING COMPANY (NYSE: SWC) announced an amendment to its 2004 third quarter results released earlier today. Attached is an amended Consolidated Statement of Cash Flows. During the third quarter 2004, payment for debt issuance costs was $3.8 million, not a receipt of $0.8 million as originally reported. As a result of the amendment, the net cash provided by financing activities during the third quarter of 2004 was $8.3 million, not $12.8 million as originally reported. The amendment does not affect net cash provided by financing activities for the nine month period ended September 30, 2004, net income for the three month or nine month periods of 2004, nor cash and cash equivalents at September 30, 2004. Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa. The Company's shares are traded on the New York Stock Exchange under the symbol SWC. Information on Stillwater Mining can be found at its Web site: www.stillwatermining.com. Stillwater Mining Company Consolidated Statements of Cash Flows (Unaudited) (in thousands) Three months ended Nine months ended September 30, September 30 2004 2003 2004 2003 Cash flows from operating activities Net income (loss) $4,365 $(1,628) $36,613 $(22,645) Adjustments to reconcile net income to net cash used by Operating activities: Depreciation and amortization 10,571 10,081 31,695 30,426 Deferred income taxes -- 2,034 -- 11,685 Cumulative effect of change in accounting for asset retirement obligations -- -- -- 672 Stock issued under employee benefit plans 755 924 2,842 2,786 Amortization and write-off of debt issuance costs 4,258 273 4,700 2,789 Amortization of restricted stock compensation 412 -- 686 670 Loss on disposal of property, plant and equipment 1,991 -- 1,916 -- Changes in operating assets and liabilities: Inventories 36,149 (478) 34,955 10,219 Accounts receivable (730) 902 (14,744) 13,190 Accounts payable 1,415 (9,075) 2,727 (4,439) Other 1,332 (2,281) (1,118) (8,594) Net cash provided by operating activities 60,518 752 100,272 36,759 Cash flows from investing activities Capital expenditures (20,905) (14,780) (55,797) (40,975) Net cash used in investing activities (20,905) (14,780) (55,797) (40,975) Cash flows from financing activities Proceeds from long-term financing, net 140,000 -- 140,000 -- Payments on long-term debt and capital lease obligations (128,241) (492) (129,205) (58,628) Issuance of common stock, related to Norilsk Nickel transaction (1) -- -- -- 100,000 Stock issuance cost, related to Norilsk Nickel transaction -- -- -- (9,716) Issuance of common stock, net of stock issue costs 267 64 2,747 64 Payment for debt issuance costs (3,757) -- (3,838) (1,606) Net cash provided by financing activities 8,269 (428) 9,704 30,114 Cash and cash equivalents Net increase (decrease) 47,882 (14,456) 54,179 25,898 Balance at beginning of period 53,808 66,267 47,511 25,913 Balance at end of period $101,690 $51,811 $101,690 $51,811 Non-cash Financing activities: (1) Fair value of common stock issued $-- $-- $-- $248,213 Inventory received in connection with the Norilsk Nickel transaction -- -- -- (148,213) Issuance of common stock, related to Norilsk Nickel transaction $-- $-- $-- $100,000 SOURCE Stillwater Mining Company -0- 11/01/2004 /CONTACT: John W. Pearson of Stillwater Mining Company, +1-406-322-8742/ /Web site: http://www.stillwatermining.com / (SWC) CO: Stillwater Mining Company ST: Montana IN: MNG SU: ERN -----END PRIVACY-ENHANCED MESSAGE-----