-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, K27mkV2AsThHjduxeSrOaacAd7CUFRigPPc9DAefcrcmJodeuRn2mie81dmHtKfP 2xo6GwYGbsEo4t4tRpxc/w== 0000891020-94-000093.txt : 19940701 0000891020-94-000093.hdr.sgml : 19940701 ACCESSION NUMBER: 0000891020-94-000093 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940630 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19940616 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POPE & TALBOT INC /DE/ CENTRAL INDEX KEY: 0000311871 STANDARD INDUSTRIAL CLASSIFICATION: 2621 IRS NUMBER: 940777139 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07852 FILM NUMBER: 94534475 BUSINESS ADDRESS: STREET 1: 1500 SW FIRST AVE CITY: PORTLAND STATE: OR ZIP: 97201 BUSINESS PHONE: 5032289161 MAIL ADDRESS: STREET 1: 1500 S W FIRST AVE CITY: PORTLAND STATE: OR ZIP: 97201 8-K 1 POPE & TALBOT FORM 8-K 1 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) JUNE 15, 1994 POPE & TALBOT, INC. (Exact name of registrant as specified in charter) DELAWARE 1-7852 94-0777139 (State of other jurisdiction of (Commission File Number) (IRS Employer incorporation) Identification No.) 1500 S.W. FIRST AVENUE PORTLAND, OREGON 97201 (Address of principal executive offices) (Zip Code)
(503) 228-9161 (Registrant's telephone number, including area code) NONE (Former name or former address, if changed since last report.) 2 Item 5. Other Events (a) See Press Release attached as Exhibit 99. 3 Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits 99 - Press Release SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly authorized this report to be signed on its behalf by the undersigned, thereunto duly authorized, on June 15, 1994. POPE & TALBOT, INC. By \s\ Carlos M. Lamadrid --------------------- Name: Carlos M. Lamadrid Title: Chief Financial Officer 4 INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION 99 Press Release
EX-99 2 POPE & TALBOT, EXHIBIT 99 1 EXHIBIT 99 POPE & TALBOT, INC. NEWS RELEASE 94-7 Contact: C. Lamadrid For Release at 8:00 a.m. PDT - Wednesday, June 15, 1994 POPE & TALBOT PROJECTS LOWER SECOND QUARTER EARNINGS PORTLAND, OR -- Pope & Talbot, Inc., today reported that Wall Street analysts' earnings estimates for the second quarter of 1994 were too high. Peter T. Pope, Chairman, President and Chief Executive Officer, stated that, "Recent earnings estimates from analysts have been $.40 per share and higher, but it now looks like the second quarter number will be in the range of $.20 per share". While the shortfall is spread across all of the Company's product lines, consumer products and market pulp are the principal areas falling below expectations. Disposable diaper shipments have been hurt by loss of a major account which was merged into a company being supplied by another diaper manufacturer. Lower prices in diapers are a result of price competition led by the two largest manufacturers. Conditions remain very competitive in the consumer private label tissue market. International pulp markets have strengthened dramatically in 1994. Following completion of a major capital program at the Company's Halsey, Oregon pulp mill, this market strength is allowing the mill to operate near capacity during the second quarter, which is helping operating results. However, fixed-price contracts through September of this year mean that recent strength in pulp prices will be delayed for the about 75 percent of total pulp sales. On balance, pulp results will be better than in 1994's first quarter, but below expectations. Lumber markets have recovered from weaker levels early in the second quarter, but profits from lumber will be significantly below those reported for 1994's record first quarter. Mr. Pope continued, "It is unusually difficult to make earnings projections for this year's second half." There will be higher wood costs in Canada because of a surcharge being imposed by the British Columbia Provincial Government. There can be only modest improvement in financial results from pulp until later this year, when pulp prices can increase from current contract levels. The consumer products area will remain competitive, although better results are hoped for as the year progresses. Mr. Pope concluded, "We view the problems in pulp as temporary in a strengthening world market for pulp, and expect to see improvement in consumer products later this year; however, at this point we see earnings for 1994 only approximating last year's $1.67 per share." Pope & Talbot, Inc. is a publicly held, Portland, Oregon-based paper, pulp and wood products company traded on the NYSE. Pope & Talbot was founded in 1849 and has operations throughout the United States and in Canada. # # # -----END PRIVACY-ENHANCED MESSAGE-----