-----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, Wpe73PuzBKL70okWXyldkfpg8k7f5mMkABzqJ2mN4+I94oj9BCs1jGW7XS8IC2aP vUil5VZOMP75v8E38I6e1g== 0000950129-02-004906.txt : 20021007 0000950129-02-004906.hdr.sgml : 20021007 20021007142240 ACCESSION NUMBER: 0000950129-02-004906 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021003 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATCO GROUP INC CENTRAL INDEX KEY: 0001057693 STANDARD INDUSTRIAL CLASSIFICATION: FABRICATED PLATE WORK (BOILER SHOPS) [3443] IRS NUMBER: 222906892 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15603 FILM NUMBER: 02783041 BUSINESS ADDRESS: STREET 1: BROOKHOLLOW CENTRAL III STREET 2: 2950 NORTH LOOP WEST STE 750 CITY: HOUSTON STATE: TX ZIP: 77092 BUSINESS PHONE: 7136839292 MAIL ADDRESS: STREET 1: BROOKHOLLOW CENTERL III STREET 2: 2950 NORTH LOOP WEST STE 750 CITY: HOUSTON STATE: TX ZIP: 77092 8-K 1 h00239e8vk.txt NATCO GROUP INC. - DATED 10/3/2002 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): October 3, 2002 NATCO Group Inc. (Exact Name of Registrant as Specified in its Charter) DELAWARE _______________ 22-2906892 (State of Incorporation) (Commission File Number) (IRS Employer Identification No.) 2950 North Loop West, 7th Floor Houston, Texas 77092 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (713) 683-9292 ITEM 5. OTHER EVENTS On October 3, 2002, NATCO Group Inc. issued a press release announcing the award of certain Pemex projects and commented on certain project and revenue delays. This press release is filed as Exhibit 99.1 to this Current Report on Form 8-K, and the contents of such Exhibit are incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits 99.1 Press Release, dated October 3, 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. Dated: October 7, 2002 NATCO Group Inc. By: /s/ J. Michael Mayer ---------------------------------- J. Michael Mayer Senior Vice President and Chief Financial Officer EXHIBIT INDEX Exhibits 99.1 Press Release, dated October 3, 2002 EX-99.1 3 h00239exv99w1.txt PRESS RELEASE DATED OCTOBER 3, 2002 EXHIBIT 99.1 ----------------------------- [NATCOGROUP LOGO] PRESS RELEASE ----------------------------- 2950 North Loop West, Suite 700 Houston, TX 77092 PHONE: (713) 685-8061 FAX: (713) 683-7841 - -------------------------------------------------------------------------------- NATCO ANNOUNCES AWARD OF PEMEX WORK; COMMENTS ON CERTAIN PROJECT AND REVENUE DELAYS OCTOBER 3, 2002 - -------------------------------------------------------------------------------- NATCO Group Inc. (NYSE: NTG - "the Company") announced today the award by Petroleos Mexicanos ("Pemex") of purchase orders to supply engineering and equipment for several projects as part of NATCO's ongoing support for Pemex in programs to upgrade and debottleneck production in the Bay of Campeche. Under the latest awards, the Company will supply specialized equipment for debottlenecking in the Vera Cruz field, as well as front-end engineering for both Akal and Vera Cruz field upgrades which will require additional equipment purchases next year. Receipt of the awards announced today had been delayed in recent months by a number of procedural requirements, and other Pemex projects which were expected to contribute revenue in the current year have been deferred into 2003. The Company also outlined project delays in several other areas. At the Sacroc field in West Texas, the field operator has begun increasing CO2 processing requirements considerably later than originally scheduled. As a result, revenue from NATCO's 2001 facility expansion at Sacroc will not attain planned levels until early 2003. Elsewhere, the Company said that although Engineered Systems backlog will have increased in the third quarter, revenue for the segment will be below expectations, partly as a result of several customers delaying startup on a number of recently awarded Engineered Systems projects. The Company indicated this was a timing issue, with project schedules extended accordingly and revenue carrying over into future periods. The Company also expects its second half 2002 results will be affected by Hurricanes Isidore and Lili, particularly due to demobilization of offshore service personnel from NATCO's automation and control systems segment. Several of the Company's facilities are in the projected path of Lili but hopefully preparation for the storm will protect employees, their families, and property. Although the Company did not provide specific guidance at this time, the combination of deferred Pemex projects and the other items noted above will have a negative effect on third quarter earnings and, to a lesser extent, fourth quarter earnings. However, the Company stressed that circumstances causing the shortfall are primarily transitory and do not indicate any change in ongoing performance or outlook for future periods. The Company believes that next year's earnings should not be affected by these project delays and confirmed current analyst forecasts of approximately $0.80 per diluted share for 2003. Statements made in this press release that are forward-looking in nature are intended to be "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risk and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to documents filed by NATCO Group Inc. with the Securities and Exchange Commission, including its Form S-1 and the Annual Report on Form 10-K, which identifies significant risk factors which could cause actual results to differ from those contained in the forward-looking statements. -----END PRIVACY-ENHANCED MESSAGE-----