-----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, EPEzmq9YuCvH5SiAPo4oIDnyGPvj3rTwsz3mShsZKtNM4ol455Wz0jmtJxGgHghh r/2qodvzxh8Iy2HuR7kxHA== 0000950134-02-004351.txt : 20020430 0000950134-02-004351.hdr.sgml : 20020430 ACCESSION NUMBER: 0000950134-02-004351 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020426 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRINITY INDUSTRIES INC CENTRAL INDEX KEY: 0000099780 STANDARD INDUSTRIAL CLASSIFICATION: RAILROAD EQUIPMENT [3743] IRS NUMBER: 750225040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06903 FILM NUMBER: 02626269 BUSINESS ADDRESS: STREET 1: 2525 STEMMONS FREEWAY CITY: DALLAS STATE: TX ZIP: 75207-2401 BUSINESS PHONE: 2146314420 FORMER COMPANY: FORMER CONFORMED NAME: TRINITY STEEL CO INC DATE OF NAME CHANGE: 19720407 8-K 1 d96405e8-k.txt FORM 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 and Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): April 26, 2002 TRINITY INDUSTRIES, INC. (Exact name of Registrant as specified in its charter) Delaware 1-6903 75-0225040 (State of incorporation) (Commission File No.) (IRS Employer Identification No. ) 2525 Stemmons Freeway, Dallas, Texas 75207-2401 (Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 631-4420 ================================================================================ Item 5. Other Events On April 26, 2002, the Registrant issued a news release that reported its operating results for the first quarter ended March 31, 2002 and indicated that the current outlook for 2002 was a small loss in the range of 5 to 25 cents per share. Item 7. Exhibits (c) Exhibits Exhibit 99(1) - News release of Registrant dated April 26, 2002. SIGNATURE 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. TRINITY INDUSTRIES, INC. Date: April 29, 2002 By: /s/ Jim S. Ivy ------------------------- Jim S. Ivy Vice President and Chief Financial Officer INDEX TO EXHIBITS
EXHIBITS NUMBER DESCRIPTION - -------- ----------- 99(1) News release of Registrant dated April 26, 2002.
EX-99.1 3 d96405ex99-1.txt NEWS RELEASE DATED APRIL 26, 2002 EXHIBIT 99(1) NEWS RELEASE Contact: Neil Shoop Treasurer (214) 589-8561 FOR IMMEDIATE RELEASE TRINITY INDUSTRIES REPORTS OPERATING RESULTS FOR FIRST QUARTER OF 2002 DALLAS - April 26, 2002 - Trinity Industries, Inc., (NYSE:TRN) today reported financial results for the first quarter of 2002. For the quarter ended March 31, 2002, the company reported a net loss of $8.6 million, or 19 cents per diluted share, on revenues of $384.3 million. This compares to a net loss of $39.7 million, or $1.08 per diluted share, on revenues of $418.7 million in the first quarter of 2001. The prior year quarter included unusual charges of $55.8 million ($35.7 million after tax), or 97 cents per diluted share, primarily related to plant closings and litigation. "I am pleased our non-rail related business segments improved profitability over the prior year," said Timothy R. Wallace, Trinity's chairman, president and CEO. "We are continuing to benefit from the diversification of our other businesses while the railcar industry is experiencing a major downcycle." "The U.S. industry orders for railcars and the deliveries of railcars are at a 14 year low point. While we have seen a small increase in demand for a few types of railcars, we are not in a position to predict the timing of a turn around for the industry at this point. Our current outlook for 2002 is a small loss in the range of 5 to 25 cents per share," Wallace said. Trinity Industries, Inc., with headquarters in Dallas, Texas, is one of the nation's leading diversified industrial companies. Trinity reports five principal business segments: the Trinity Rail Group, Trinity Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group and the Industrial Products Group. Trinity's web site may be accessed at http://www.trin.net. This news release contains "forward looking statements" as defined by the Private Securities Litigation Reform Act of 1995 and includes statements as to expectations, beliefs and future financial performance, or assumptions underlying or concerning matters herein. These statements that are not historical facts are forward looking. Readers are directed to Trinity's Form 10-K and other SEC filings for a description of certain of the business issues and risks, a change in any of which could cause actual results or outcomes to differ materially from those expressed in the forward looking statements. Any forward looking statement speaks only as of the date on which such statement is made. Trinity undertakes no obligation to update any forward looking statement or statements to reflect events or circumstances after the date on which such statement is made. - TABLES TO FOLLOW - Trinity Industries, Inc. Condensed Consolidated Income Statement (in millions, except per share amounts)
Three Months Ended March 31 ----------------------------- 2001* 2002 -------- -------- Revenues $ 418.7 $ 384.3 Operating profit (loss) $ (58.2) $ (4.2) Other expense 3.9 7.2 -------- -------- Income (loss) before income taxes (62.1) (11.4) Provision (benefit) for income taxes (22.4) (2.8) -------- -------- Net income (loss) $ (39.7) $ (8.6) ======== ======== Net income (loss) per common share: Basic $ (1.08) $ (0.19) ======== ======== Diluted $ (1.08) $ (0.19) ======== ======== Weighted average number of shares outstanding: Basic 36.9 44.4 Diluted 36.9 44.4
* The three months ended March 31, 2001 includes pretax charges of $55.8 million ($35.7 million after tax or $0.97 per share) related primarily to restructuring the Company's railcar operations and litigation. For the three months ended March 31, 2001, $53.9 million is included in cost of revenues and $1.9 million in SE&A expenses. Trinity Industries, Inc. Condensed Segment Data (in millions) REVENUES:
Three Months Ended March 31 ----------------------------- 2001* 2002 -------- -------- Rail Group $ 293.4 $ 171.1 Construction Products Group 118.1 113.1 Inland Barge Group 58.5 61.2 Industrial Products Group 38.5 31.3 Railcar Leasing & Management Services Group 20.1 26.7 All Other 27.5 9.2 Eliminations (137.4) (28.3) -------- -------- Total revenues $ 418.7 $ 384.3 ======== ========
OPERATING PROFIT (LOSS):
Three Months Ended March 31 ----------------------------- 2001* 2002 -------- -------- Rail Group $ (38.6) $ (12.2) Construction Products Group 3.3 7.5 Inland Barge Group 1.8 1.9 Industrial Products Group (1.1) 0.9 Railcar Leasing & Management Services Group 7.8 7.1 All Other (14.7) (2.9) Corporate & Eliminations (16.7) (6.5) -------- -------- Consolidated $ (58.2) $ (4.2) ======== ========
Trinity Industries, Inc. Condensed Consolidated Balance Sheet (in millions)
December 31, 2001 March 31, 2002 ----------------- -------------- Cash and equivalents $ 22.2 $ 15.6 Receivables and inventories 479.5 464.3 Property, plant and equipment, at cost 1,434.9 1,473.6 Less accumulated depreciation (555.8) (587.1) Other assets 571.2 558.3 ---------- ---------- $ 1,952.0 $ 1,924.7 ========== ========== Accounts payable and accrued liabilities $ 424.9 $ 379.8 Debt 476.3 457.6 Deferred income taxes -- 16.3 Other liabilities 41.4 38.4 Stockholders' equity 1,009.4 1,032.6 ---------- ---------- $ 1,952.0 $ 1,924.7 ========== ==========
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