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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1997
Commission File Number 1-06124
LONE STAR INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
No. 13-0982660
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
300 First Stamford Place
Stamford, CT
06912-0014
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (203) 969-8600
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange
on which each class registered
Common Stock, par value $1.00
New York Stock Exchange
per share
Common Stock Purchase Rights
New York Stock Exchange
Common Stock Purchase Warrants
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
(a) The following documents are filed as a part of this Report:
27 - Financial Data Schedule (filed herewith).
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.
LONE STAR INDUSTRIES, INC.
By: /s/ JAMES W. LANGHAM
JAMES W. LANGHAM
Vice President, General
Counsel and Secretary
Date: April 9, 1998
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Lone Star
Industries' consolidated statements of operations and consolidated balance
sheets and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997
<PERIOD-END> MAR-31-1997 JUN-30-1997 SEP-30-1997
<CASH> 535 1,912 2,228
<SECURITIES> 91,934 48,952 92,372
<RECEIVABLES> 38,878 55,244 54,423
<ALLOWANCES> 5,187 5,262 4,475
<INVENTORY> 58,123 53,333 48,157
<CURRENT-ASSETS> 191,781 164,142 201,816
<PP&E> 381,764 392,176 399,718
<DEPRECIATION> 63,588 69,491 74,476
<TOTAL-ASSETS> 586,491 555,448 586,700
<CURRENT-LIABILITIES> 107,082 56,257 59,804
<BONDS> 50,000 50,000 50,000
0 0 0
0 0 0
<COMMON> 12,088 12,089 12,090
<OTHER-SE> 258,619 278,356 305,277
<TOTAL-LIABILITY-AND-EQUITY> 586,491 555,448 586,700
<SALES> 60,836 165,454 277,229
<TOTAL-REVENUES> 62,252 169,596 288,983
<CGS> 46,183 108,718 172,613
<TOTAL-COSTS> 60,140 136,100 212,868
<OTHER-EXPENSES> 0 0 0
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 1,714 2,518 3,135
<INCOME-PRETAX> 398 30,978 72,980
<INCOME-TAX> 134 10,533 24,813
<INCOME-CONTINUING> 264 20,445 48,167
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 264 20,445 48,167
<EPS-PRIMARY> .02 1.87 4.40
<EPS-DILUTED> .02 1.55 3.61
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Lone Star
Industries' consolidated statements of operations and consolidated balace sheets
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 1,447
<SECURITIES> 69,768
<RECEIVABLES> 38,435
<ALLOWANCES> 5,099
<INVENTORY> 53,869
<CURRENT-ASSETS> 165,214
<PP&E> 383,974
<DEPRECIATION> 60,992
<TOTAL-ASSETS> 562,151
<CURRENT-LIABILITIES> 88,236
<BONDS> 50,000
0
0
<COMMON> 12,087
<OTHER-SE> 252,195
<TOTAL-LIABILITY-AND-EQUITY> 562,151
<SALES> 367,673
<TOTAL-REVENUES> 378,058
<CGS> 237,114
<TOTAL-COSTS> 289,682
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 6,606
<INCOME-PRETAX> 81,770
<INCOME-TAX> 27,610
<INCOME-CONTINUING> 54,160
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 54,160
<EPS-PRIMARY> 4.80
<EPS-DILUTED> 4.09
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Lone Star
Industries' consolidated statements of operations and consolidated balance
sheets and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996
<PERIOD-END> MAR-31-1996 JUN-30-1996 SEP-30-1996
<CASH> 345 3,115 3,684
<SECURITIES> 34,320 32,056 54,624
<RECEIVABLES> 31,131 50,526 53,760
<ALLOWANCES> 5,975 6,015 5,569
<INVENTORY> 66,299 60,151 51,371
<CURRENT-ASSETS> 131,887 154,818 171,937
<PP&E> 358,298 369,013 376,171
<DEPRECIATION> 43,397 49,074 54,984
<TOTAL-ASSETS> 473,881 542,363 549,506
<CURRENT-LIABILITIES> 61,452 60,045 53,600
<BONDS> 78,000 78,000 78,000
0 0 0
0 0 0
<COMMON> 12,081 12,084 12,085
<OTHER-SE> 142,836 215,881 235,538
<TOTAL-LIABILITY-AND-EQUITY> 473,881 542,363 549,506
<SALES> 52,987 155,294 273,643
<TOTAL-REVENUES> 55,080 159,994 282,011
<CGS> 44,941 109,578 178,966
<TOTAL-COSTS> 58,096 135,572 217,654
<OTHER-EXPENSES> 0 0 0
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 1,874 3,546 5,210
<INCOME-PRETAX> (4,890) 20,876 59,147
<INCOME-TAX> 1,614 (6,889) 19,814
<INCOME-CONTINUING> (3,276) 13,987 39,333
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> (3,276) 13,987 39,333
<EPS-PRIMARY> (0.29) 1.22 3.44
<EPS-DILUTED> (0.29) 1.05 2.96
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Lone Star
Industries' consolidated statements of operations and consolidated balance
sheets and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<CASH> 2,726
<SECURITIES> 47,323
<RECEIVABLES> 37,339
<ALLOWANCES> 5,936
<INVENTORY> 55,476
<CURRENT-ASSETS> 142,217
<PP&E> 345,591
<DEPRECIATION> 37,655
<TOTAL-ASSETS> 477,465
<CURRENT-LIABILITIES> 60,567
<BONDS> 78,000
0
0
<COMMON> 12,081
<OTHER-SE> 147,659
<TOTAL-LIABILITY-AND-EQUITY> 477,465
<SALES> 323,008
<TOTAL-REVENUES> 333,776
<CGS> 217,942
<TOTAL-COSTS> 271,304
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 9,096
<INCOME-PRETAX> 53,376
<INCOME-TAX> 17,614
<INCOME-CONTINUING> 35,762
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 35,762
<EPS-PRIMARY> 2.98
<EPS-DILUTED> 2.81
</TABLE>
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