-----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, WvU4uQiL8+GSxcuWb4zdjBlU6/bT516ALiiqmEdYprLbXOeZgfzfHaiDtqImGSk3 tjWOK9vzPzi1E4W5tN/W/A== 0000916540-07-000014.txt : 20070316 0000916540-07-000014.hdr.sgml : 20070316 20070316124518 ACCESSION NUMBER: 0000916540-07-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20070313 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070316 DATE AS OF CHANGE: 20070316 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DARLING INTERNATIONAL INC CENTRAL INDEX KEY: 0000916540 STANDARD INDUSTRIAL CLASSIFICATION: FATS & OILS [2070] IRS NUMBER: 362495346 STATE OF INCORPORATION: DE FISCAL YEAR END: 1207 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13323 FILM NUMBER: 07698936 BUSINESS ADDRESS: STREET 1: 251 O CONNOR RIDGE BLVD STREET 2: STE 300 CITY: IRVING STATE: TX ZIP: 75038 BUSINESS PHONE: 9727170300 MAIL ADDRESS: STREET 1: 251 OCONNOR RIDGE BLVD STREET 2: #300 CITY: IRVING STATE: TX ZIP: 75038 8-K 1 k8ye06pr.htm FORM 8K DARLING INTERNATIONAL INC EARNINGS RELEASE YE 12/30/2006 Form 8K Darling International Inc Earnings Release ye 12/30/2006

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 13, 2007 
 

DARLING INTERNATIONAL INC.
(Exact Name of Registrant as Specified in Charter)
 

Delaware
 
000-24620
 
36-2495346
 
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

251 O’CONNOR RIDGE BLVD., SUITE 300,     IRVING, TEXAS     75038
(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code:   (972) 717-0300  
 
 
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))


1



 
Item  2.02
 
Results of Operations and Financial Condition.
 
 
 
 
On  March 15, 2007, Darling International Inc. issued a press release announcing financial results for the quarter and year ended December 30, 2006. A copy of this press release is attached hereto as Exhibit 99.1.

On  March 13,  2007, Darling International Inc. issued a press release announcing its conference call and webcast for the Company's financial results for the quarter  and year ended December 30, 2006. A copy of this press release is attached hereto as Exhibit 99.2.


Item 9.01
 
Financial Statements and Exhibits.
 
 
(d)
Exhibits
 
 
  99.1
 
  99.2
 
Press Release dated March 15, 2007 (furnished pursuant to Item 2.02).
 
Press Release dated March 13, 2007 (furnished pursuant to Item 2.02).
 



2


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.



        DARLING INTERNATIONAL INC.

        Date: March 16, 2007    By:___/s/ John O. Muse_________________
           John O. Muse
           Executive Vice President
           Finance and Administration
EX-99.1 2 ex99ye06er.htm EX 99.1 PRESS RELEASE DARLING INTERNATIONAL INC EARNINGS YE 12/30/2006 Ex 99.1 Press Release Darling International Inc Earnings YE 12/30/2006
 
For Immediate Release  
 

DARLING INTERNATIONAL INC. ANNOUNCES RESULTS
FOR FOURTH QUARTER AND FISCAL YEAR 2006
 
 
Irving, Texas , March 15, 2007:   Darling International Inc. (AMEX: DAR) today reported increased net income of $6.1 million, or $0.07 per share, for the fourth quarter 2006, as compared to $2.1 million, or $0.03 per share, for the 2005 comparable period. Sales and results of operations for the fourth quarter and fiscal year ended December 30, 2006 as compared to the same periods of the prior year, are as follows:

Fourth Quarter 2006
 
For the fourth quarter of 2006, the Company reported net sales of $128.1 million as compared to $76.9 million for the fourth quarter of 2005. Substantially all of the $51.2 million increase in sales is attributable to the Company’s acquisition of substantially all of the assets of National By-Products, LLC on May 15, 2006.
 
The $4.0 million increase in net income for the fourth quarter 2006 resulted primarily from: (i) improved prices for finished products; (ii) lower energy prices; and (iii) the integration of National By-Products and achievement of resulting synergies.
 
Darling International Inc. Chairman and Chief Executive Officer Randall Stuewe said, “We are very pleased with our results for the fourth quarter. Higher finished product prices along with improved raw material tonnage created a favorable operating environment during the quarter. We are excited to begin realizing benefits from the integration of National By-Products. As we move into 2007, our management team remains committed to delivering value to our shareholders.”


-MORE-




Fiscal Year 2006
 
For fiscal year 2006, the Company reported net sales of $407.0 million as compared to $308.9 million for Fiscal year 2005. Substantially all of the $98.1 million increase in sales, which was partially offset by lower prices for finished products, is attributable to the Company’s acquisition of substantially all of the assets of National By-Products.
 
For the fiscal year ended December 30, 2006, the Company reported net income of $5.1 million, or $0.07 per share, as compared to $7.7 million or $0.12 per share for the 2005 comparable period. The $2.6 million decrease in net income for fiscal year 2006 resulted primarily from: (i) $4.5 million in charges related to prepayment fees and the write-off of deferred loan costs in connection with the termination of the Company’s previous subordinated debt and revolving credit facilities; (ii) lower prices for finished products; and (iii) higher legal expenses.

Darling International will host a conference call to discuss the Company's Fiscal 2006 financial results at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) on Monday, March 19, 2007. To listen to the conference call, participants calling from within North America may dial 888-868-9079; international participants may dial 973-935-8510. Please call approximately ten minutes before the start of the call to ensure that you are connected.

The call will also be available as a live audio web cast that can be accessed on the company website at http://www.darlingii.com/investors/investors.html or http://www.earnings.com. Following its completion, a replay of the call can be accessed until April 2, 2007 by dialing 877-519-4471 or 973-341-3080 outside of North America. The access code for the replay is 8515665. The conference call will also be archived on the company's website for seven days.


-MORE-




Darling International Inc. is the largest publicly traded, food processing by-products recycling company in the United States. The Company recycles used restaurant cooking oil and by-products from the beef, pork and poultry processing industries into useable products such as tallow, feed-grade fats, meat and bone meal, and hides. These products are primarily sold to agricultural, leather and oleo-chemical manufacturers around the world. In addition, the Company provides grease trap collection services and sells equipment to restaurants.

For more information, please visit http://www.darlingii.com.
 
 

{This media release contains forward-looking statements regarding the business operations of Darling and the industry in which it operates. These statements are identified by words such as "may," "will," " begin, " " look forward, " , "expect," "believe," "intend," "anticipate," "should", "estimate," continue," and other words referring to events to occur in the future. These statements reflect Darling's current view of future events and are based on its assessment of, and are subject to, a variety of risks and uncertainties beyond its control, including business and economic conditions in its existing markets that could cause actual results to differ materially from those projected in such forward-looking statements. Other risks and uncertainties regarding Darling, its business and the industry in which it operates are referenced from time to time in the Company’s filings with the Securities and Exchange Commission. Darling is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.}
 
 
 
-MORE-

 
 

Darling International Inc.
Consolidated Operating Results
For the Periods Ended December 30, 2006 and December 31, 2005
(Dollars in thousands, except per share amounts)
(Unaudited)
 
 
                                        Three Months Ended                                Twelve Months Ended
 
 
   
Dec. 30,
2006 
   
Dec. 31,
2005
 
 
$ Change
Favorable
(Unfavorable
)
 
Dec. 30,
2006
   
Dec. 31,
2005
 
 
$ Change
Favorable
(Unfavorable
)
 
Net sales
 
 
$  128,130
 
 
$   76,908
 
 
$   51,222
 
 
$ 406,990
 
 
$ 308,867
 
 
$   98,123
 
 
Costs and expenses:
                                     
 
Cost of sales and operating expenses
   
99,143
   
59,693
   
(39,450
)
 
321,416
   
241,707
   
(79,709
)
 
Selling, general and administrative expenses
   
11,721
   
9,082
   
(2,639
)
 
45,649
   
35,240
   
(10,409
)
 
Depreciation and amortization
   
5,822
   
4,397
   
(1,425
)
 
20,686
   
15,787
   
(4,899
)
 
Total costs and expenses
   
116,686
   
73,172
   
(43,514
)
 
387,751
   
292,734
   
(95,017
)
 
Operating income
   
11,444
   
3,736
   
7,708
   
19,239
   
16,133
   
3,106
 
 
Other income/(expense):
                                     
 
Interest expense
   
(1,860
)
 
(1,450
)
 
(410
)
 
(7,184
)
 
(6,157
)
 
(1,027
)
 
Other, net
   
(291
)
 
12
   
(303
)
 
(4,682
)
 
903
   
(5,585
)
 
Total other income/(expense)
   
(2,151
)
 
(1,438
)
 
(713
)
 
(11,866
)
 
(5,254
)
 
(6,612
)
 
Income from continuing operations before income taxes
   
9,293
   
2,298
   
6,995
   
7,373
   
10,879
   
(3,506
)
 
Income taxes
   
(3,204
)
 
(182
)
 
(3,022
)
 
(2,266
)
 
(3,184
)
 
918
 
 
Income from continuing operations
   
6,089
   
2,116
   
3,973
   
5,107
   
7,695
   
(2,588
)
 
Income/(loss) from discontinued operations, net of tax
   
-
   
(35
)
 
35
   
-
   
46
 
(46
)
 
Net income
 
 
$     6,089
 
 
$     2,081
 
 
$    4,008
 
 
$    5,107
 
 
$     7,741
 
 
$    (2,634
)
 
 
Basic earnings per share
Diluted earnings per share
 
 
$ 0.08
$ 0.07
 
 
$ 0.03
$ 0.03
 
 
$ 0.05
$ 0.04
 
 
$ 0.07
$ 0.07
 
 
$ 0.12
$ 0.12
 
 
 
$ (0.05
$ (0.05
)
)
                                       
 
- END -
 


    FOR MORE INFORMATION CONTACT: 
         John O. Muse, Executive Vice President of                                                                    251 O’Connor Ridge Blvd., Suite 300
              Finance and Administration, or                                                                                   Irving, Texas 75038
         Brad Phillips, Treasurer                                                                                                      Phone: 972-717-0300
 
EX-99.2 3 ex99ye06wc.htm EX 99.2 PRESS RELEASE DARLING INTERNATIONAL INC ANNOUNCE WEBCAST YE 12/30/2006 Ex 99.2 Press Release Darling International Inc Announce Webcast YE 12/30/2006
 
 

Darling International Announces Conference Call and Webcast for its
Fourth Quarter and Full Year 2006 Financial Results on March 19, 2007
 

IRVING, Texas, March 13, 2007 -  Darling International Inc. (Amex: DAR) announced today that it will release its fourth quarter and full year 2006 financial results after the market closes on March 15, 2007 and will host a conference call at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) on March 19, 2007 to provide additional details about the company's results.

To listen to the conference call, participants calling from within North America may dial 888-868-9079; international participants may dial 973-935-8510. Please call approximately ten minutes before the start of the call to ensure that you are connected. The call will also be available as a live audio webcast that can be accessed on the company website at http://www.darlingii.com/investors/investors.html or http://www.earnings.com.

Following its completion, a replay of the call can be accessed until April 2, 2007 by dialing 877-519-4471 or 973-341-3080 outside of North America. The access code for the replay is 8515665. The conference call will also be archived on the company's website for seven days.

About Darling
 
    Darling International Inc. is the largest publicly traded, food processing by-products recycling company in the United States. The Company recycles used restaurant cooking oil and by-products from the beef, pork and poultry processing industries into useable products, such as tallow, feed-grade fats, meat and bone meal, and hides. These products are primarily sold to agricultural, leather and oleo-chemical manufacturers around the world. In addition, the Company provides grease trap collection services and sells equipment to restaurants.
 
 

- END -
 


FOR MORE INFORMATION CONTACT: 
     John O. Muse, Executive Vice President of                                                                    251 O’Connor Ridge Blvd., Suite 300
          Finance and Administration, or                                                                                   Irving, Texas 75038
     Brad Phillips, Treasurer                                                                                                      Phone: 972-717-0300
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