-----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, JlCxyqLuqQqFqWyHQ3JO56IhtEuKXkzbiQ9a+IORxmhgS/ZI7bkBkKc3s+uCjAU3 ULn8sGtrH2Sos9/iqHXSQA== 0001171520-04-000381.txt : 20041115 0001171520-04-000381.hdr.sgml : 20041115 20041115143316 ACCESSION NUMBER: 0001171520-04-000381 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041111 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041115 DATE AS OF CHANGE: 20041115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN BILTRITE INC CENTRAL INDEX KEY: 0000004611 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 041701350 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04773 FILM NUMBER: 041144127 BUSINESS ADDRESS: STREET 1: 57 RIVER STREET CITY: WELLESLEY HILLS STATE: MA ZIP: 02481 BUSINESS PHONE: 6172376655 MAIL ADDRESS: STREET 1: 57 RIVER STREET CITY: WELLESLEY HILLS STATE: MA ZIP: 02481 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN BILTRITE RUBBER CO INC DATE OF NAME CHANGE: 19730621 8-K 1 eps1589.txt AMERICAN BILTRITE, INC. 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) November 11, 2004 - -------------------------------------------------------------------------------- AMERICAN BILTRITE INC. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Delaware 1-4773 04-1701350 - ---------------------------- --------------------- ------------------- (State or other jurisdiction (Commission File No.) (IRS Employer of Incorporation) Identification No.) 57 River Street, Wellesley Hills, Massachusetts 02481-2097 ---------------------------------------------------------- (Address of principal executive offices, including zip code) (781) 237-6655 ---------------------------------------------------- (Registrant's telephone number, including area code) Not Applicable ------------------------------------------------------------- (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: |_| 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 November 11, 2004, American Biltrite Inc. issued a press release announcing its financial results for the quarter ended September 30, 2004. A copy of that press release is being furnished to the Securities and Exchange Commission pursuant to this Item 2.02 of Form 8-K and is attached hereto as Exhibit 99.1. Item 9.01 Financial Statements and Exhibits. (c) Exhibits Exhibit Number Description 99.1 Press release of American Biltrite Inc. dated November 11, 2004 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. Date: November 15, 2004 AMERICAN BILTRITE INC. By: /s/ Howard N. Feist III ----------------------- Name: Howard N. Feist III Title: Chief Financial Officer EXHIBIT INDEX Exhibit Number Description 99.1 Press release of American Biltrite Inc. dated November 11, 2004 EX-99.1 2 ex99-1.txt Exhibit 99.1 FOR IMMEDIATE RELEASE November 11, 2004 For Further Information: Howard N. Feist Chief Financial Officer (781) 237-6655 AMERICAN BILTRITE REPORTS THIRD QUARTER RESULTS WELLESLEY HILLS, MA, November 11, 2004 - American Biltrite Inc. (AMEX:ABL) reported today its results for the third quarter. Net sales for the three months ended September 30, 2004 were $113.2 million, up 5.0% from $107.8 million in the third quarter of 2003. Income from continuing operations in the third quarter of 2004 was $1.5 million, or $.44 per share, compared with $1.3 million or $.39 per share in the third quarter of 2003. Net income in the third quarter of 2004 was $1.4 million, or $.42 per share, compared with $0.4 million or $.12 per share in the third quarter of 2003. For the nine months ended September 30, 2004, income from continuing operations was $1.5 million or $.43 per share on sales of $325.1 million, compared with a loss from continuing operations of $3.0 million or $.89 per share on sales of $313.3 million for the same period last year. For the nine months ended September 30, 2004, net income was $1.1 million or $.33 per share compared with a loss of $14.6 million or $4.24 per share for the same period last year. Results in the third quarter of 2003 included a gain of $1.6 million or $.46 per share from the recognition of an income tax benefit realized as a result of net operating loss carry back claims received at Congoleum. Roger Marcus, Chairman of the Board, commented "Our performance for the third quarter improved over both prior quarters of this year and the third quarter of last year, despite significant raw material cost increases experienced at our manufacturing operations. K&M and Congoleum both reported significant improvements in operating income. The Canadian division performed better than the same quarter last year, while the Tape division results were below year earlier levels." AMERICAN BILTRITE INC. RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30 (UNAUDITED) ($000, except per share amounts)
Three Months Ended Nine Months Ended September 30, September 30, 2004 2003 2004 2003 ---------- ---------- ---------- ---------- Net sales $ 113,180 $ 107,825 $ 325,105 $ 313,271 ========== ========== ========== ========== Income (loss) before other items $ 1,632 $ 1,401 $ 1,619 $ (2,904) Noncontrolling interests (118) (53) (141) (143) ---------- ---------- ---------- ---------- Income (loss) from continuing operations 1,514 1,348 1,478 (3,047) Discontinued operation (70) (922) (342) (11,538) ---------- ---------- ---------- ---------- Net income (loss) $ 1,444 $ 426 $ 1,136 $ (14,585) ========== ========== ========== ========== Income (loss) per common share from continuing operations, basic and diluted $ 0.44 $ 0.39 $ 0.43 $ (0.89) Discontinued operation (0.02) (0.27) (0.10) (3.35) ---------- ---------- ---------- ---------- Net income (loss) per share, basic and diluted $ 0.42 $ 0.12 $ 0.33 $ (4.24) ========== ========== ========== ========== Weighted average number of common and equivalent shares outstanding 3,441,551 3,441,551 3,441,551 3,441,551 ========== ========== ========== ==========
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