-----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, D1XeJtXNDvqVYWYQbwG1PSc15u1QaAJYZZIAYK0X8DwyHUIT4gQrkXAix6bl9dzC 4oHeDMjpL1dFOXy0txagJg== 0000950123-03-009136.txt : 20030808 0000950123-03-009136.hdr.sgml : 20030808 20030808150402 ACCESSION NUMBER: 0000950123-03-009136 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030808 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARISA CHRISTINA INC CENTRAL INDEX KEY: 0000923149 STANDARD INDUSTRIAL CLASSIFICATION: KNIT OUTERWEAR MILLS [2253] IRS NUMBER: 133078311 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24176 FILM NUMBER: 03831571 BUSINESS ADDRESS: STREET 1: 8101 TONNELLE AVE CITY: NORTH BERGEN STATE: NJ ZIP: 07047-4601 BUSINESS PHONE: 5163525050 MAIL ADDRESS: STREET 1: 8101 TONNELLE AVE CITY: NORTH BERGEN STATE: NJ ZIP: 07047-4601 8-K 1 y89073e8vk.txt FORM 8-K 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): August 8, 2003 MARISA CHRISTINA, INCORPORATED (Exact name of Registrant as specified in its charter) Delaware 0-24176 11-3216809 (State of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 8101 Tonnelle Avenue, North Bergen, New Jersey 07047-4601 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (201) 758-9800 ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits. 99.1 Marisa Christina Incorporated News Release dated August 8, 2003 ITEM 9. REGULATION FD DISCLOSURE The following information is being furnished pursuant to Item 9 and Item 12 of Form 8-K. On August 8, 2003, we issued a press release reporting three and six months ended June 30, 2003 financial results. A copy of the press release is attached hereto as Exhibit 99.1. The information furnished in this Item 9 and Item 12 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall such information be deemed incorporated by reference in any filing with the Securities and Exchange Commission, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing. 2 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) 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. MARISA CHRISTINA, INCORPORATED BY: /s/ S. E. Melvin Hecht ------------------------------------ S. E. Melvin Hecht Vice-Chairman, Chief Financial Officer and Treasurer Dated: August 8, 2003 3 INDEX TO EXHIBIT
EXHIBIT NO. DOCUMENT - ----------- -------- 99.1 Marisa Christina, Incorporated News Release dated August 8, 2003.
4 EX-99.1 3 y89073exv99w1.txt PRESS RELEASE Exhibit 99.1 NEWS RELEASE FOR: Marisa Christina, Incorporated CONTACT: Michael Lerner Chairman and Chief Executive Officer (212) 221-5770 S. E. Melvin Hecht Vice-Chairman and Chief Financial Officer (201) 758-9800 FOR IMMEDIATE RELEASE MARISA CHRISTINA REPORTS SECOND QUARTER 2003 RESULTS New York, New York, August 8, 2003 -- Marisa Christina, Incorporated (Nasdaq: MRSA) today reported results for the quarter and six months ended June 30, 2003. Net sales for the 2003 second quarter were $2.8 million compared with $3.3 million in the second quarter of 2002, a 15.6 % decrease, primarily due to a continued softening in the economy resulting in lower customer bookings for the first half of the year. Gross profit for the second quarter of 2003 was $405,000 compared with the second quarter of 2002, when the gross profit was $355,000. Gross profit as a percent of net sales increased from 10.9% in the second quarter of 2002 to 14.7 % in the second quarter of 2003. The second quarter of 2003 showed a net loss of $706,000 compared to the second quarter of 2002 net loss of $1.4 million. For the first six months of 2003 the net loss was $993,000 compared with a $1.1 million net loss in the first half of 2002, an 11.3% improvement. Michael H. Lerner, Chairman of Marisa Christina, Inc. had these comments, "The second quarter is historically the weakest and we fully expected this loss. We knew that our first six months sales volume would be lower than the previous year, due to the state of the economy and careful retailers. Our sales volume for the second half of 2003 will bring our top line equal to the level in 2002. We anticipate an operating profit for the year 2003, which should equal or exceed 2002." Marisa Christina, Inc. designs, manufactures, sources and markets a broad line of high quality "better" clothing for women. The Marisa Christina label includes sweaters characterized by classic, timeless styling and unique details. 5 Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with the success of future advertising and marketing programs, the receipt and timing of future customer orders, price pressures and other competitive factors and a softening of retailer or consumer acceptance of the Company's products leading to a decrease in anticipated revenues and gross profit margins. Those and other risks are described in the Company's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company. -Financial Table Follows- 6 MARISA CHRISTINA, INCORPORATED AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited)
THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2003 2002 2003 2002 ------- ------ ------- ------ Net sales $ 2,752 3,260 $ 8,059 9,524 Cost of goods sold 2,347 2,905 5,877 6,887 ------- ------ ------- ------ Gross profit 405 355 2,182 2,637 Selling, general and administrative expenses 1,654 1,812 3,775 3,881 ------- ------ ------- ------ Operating loss (1,249) (1,457) (1,593) (1,244) Interest income, net 10 22 22 40 Other income, net 63 67 76 87 ------- ------ ------- ------ Loss before income tax expense (benefit) (1,176) (1,368) (1,495) (1,117) Income tax expense (benefit) (470) -- (502) 3 ------- ------ ------- ------ Net loss $ (706) (1,368) $ (993) (1,120) Basic and diluted net loss per weighted average ======= ======= ======== ======= common share $ (0.10) (0.19) $ (0.14) (0.15) ======= ====== ======= ====== Weighted average common shares outstanding 7,295 7,295 7,295 7,295 ======= ====== ======= ======
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