UNITED STATES
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): March 25, 2013
U.S. PREMIUM BEEF, LLC
(Exact name of Registrant as specified in its charter)
(State or other jurisdiction of incorporation)
333-115164 |
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20-1576986 |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
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12200 North Ambassador DriveKansas City, Missouri |
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64163 |
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(Address of principal executive offices) |
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(Zip Code) |
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(816) 713-8800 |
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Registrants telephone, number, including area code
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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))
ITEM 2.02 Results of Operations and Financial Condition.
On March 25, 2013, the Company issued a letter to its unitholders announcing certain financial results for the fiscal year ended December 29, 2012. A copy of the letter is attached as Exhibit 2.1.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The following is filed as an Exhibit to this Report:
Exhibit No. |
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Description of Exhibit |
2.1 |
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Unitholder letter dated March 25, 2013 |
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, thereunto duly authorized.
U.S. PREMIUM BEEF, LLC |
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By: /s/ Stanley D. Linville_______ |
Stanley D. Linville |
Chief Executive Officer |
Dated: March 25, 2013
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P.O. Box 20103 |
March 25, 2013
Dear Unitholder,
U.S. Premium Beef, LLC (USPB) has closed its financial records for fiscal year 2012, which ended December 29, 2012. USPB had income of $2.7 million for the 52 week period ending December 29, 2012, compared to income of $167.6 million for the 52 week period ending August 27, 2011. The decrease in net income is primarily driven by lower gross margins at National Beef Packing Company, LLC (NBP), but is also down as a result of the sale of a majority of USPBs ownership interest in NBP to Leucadia National Corporation.
Although net income for the year was down, NBPs revenues increased compared to the prior period primarily due to increases in boxed beef prices.
USPBs unique advantage continues to be the superior quality cattle our producers deliver, which enables our company to generate more value from the cattle we harvest and provides more opportunities in the consumer marketplace. Please call our office if you have questions about USPBs financial results. Thank you.
Sincerely,
Stanley D. Linville
Chief Executive Officer
This letter contains discussion of some of our expectations regarding U.S. Premium Beef, LLC's future performance. These forward-looking statements are based on our current views and assumptions. Actual results could differ materially from these current expectations and projections, and from historical performance. For example, our future results could be affected by such factors as: the competitive dynamics in the U.S. and international beef markets, the rate of our unit volume growth and our product mix, and fluctuations in the cost and availability of supply-chain resources. Further discussions of these matters can be found in the securities filings of U.S. Premium Beef through the Securities and Exchange Commission's Electronic Data Gathering and Retrieval (EDGAR) system at www.SEC.gov.
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