FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Date of Report (Date of earliest event reported) November 14, 2000.
HIGH PLAINS CORPORATION
(Exact name of registrant as specified in its charter)
Kansas #1-8680
(State or other jurisdiction of (Commission File
incorporation) Number)
200 W. Douglas #48-0901658
Suite #820 (IRS Employer
Wichita, Kansas 67202 Identification No.)
(Address of principal
executive offices)
(316) 269-4310
(Registrant's telephone number)
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Item 5 Other Information
Wichita, KS, November 14, 2000 -- High Plains Corporation (Nasdaq:HIPC) was
recently named one of the 50 fastest growing technology companies in Kansas
and Western Missouri, by Deloitte & Touche. At the "Fast 50" awards ceremony
in Kansas City, High Plains was recognized for the second year in a row for
its 81 percent revenue growth from fiscal 1995 to fiscal 1999.
Gary Smith, President and CEO, praised the total organization for their
efforts in making this award possible. "When I came on board two and a half
years ago, we were posting $85 million in annual sales. Passing $109 million
in sales this last fiscal year was a special milestone. With strong ethanol
markets and our diversification efforts, we expect sales to continue to
increase in the future. Not only are fuel ethanol prices up, but sales
volumes of our industrial grade ethanol for October alone are over 75 percent
of the industrial sales for the entire July-September quarter, and we believe
that trend will continue throughout the current quarter and into the next,"
stated Smith.
High Plains reported sales of $29,181,796 for its fiscal first quarter ended
September 30, 2000, and operating income (income before interest and taxes)
of $2,467,641, or $.15 per share. Net earnings after taxes were $1,297,597,
or $.08 per share. Smith projected that the balance of the year looks
strong, "fundamentals are in place to allow us to project net earnings in the
$.12 to $.14 per share range for the current (second) fiscal quarter, and it
appears that the third quarter should be strong also," he continued. "If
grain, ethanol and natural gas prices continue in the ranges that we expect,
even the fourth quarter, which is historically our weakest, also should show
good profitability," concluded Smith.
Based in Wichita, Kansas, High Plains Corporation is among the nation's
largest producers of ethanol. The company operates facilities in Colwich,
Kansas; York, Nebraska; and Portales, New Mexico.
This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including without limitation risks of fluctuations
in feedstock commodity prices, changes in the market prices or demand for
motor fuels and Ethanol, legislative changes regarding air quality, fuel
specifications or incentive programs, as well as general market conditions,
competition and pricing. The Company believes that forward-looking
statements made by it are based upon reasonable expectations. However, no
assurances can be given that actual results will not differ materially from
those contained in such forward-looking statements. Additional information
concerning these and other factors is contained in the Company's Securities
and Exchange Commission filings, including its annual 10-K, Proxy Statement
and quarterly 10-Q filings, copies of which are available from the Company
without charge.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 14, 2000 HIGH PLAINS CORPORATION
/s/Gary R. Smith
President & CEO
