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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report: July 28, 1999
McCLAIN INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Michigan 0-7770 38-1867649
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(State or other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of incorporation)
6200 Elmridge Road
Sterling Heights, Michigan 48313
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(Address of principal (Zip Code)
Executive offices)
Registrant's telephone number, including area code (810) 264-3611
Total pages: 3
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Item 5. Other Events
See the press release announcing operating results for the quarter
ended June 30, 1999, attached hereto as Exhibit A.
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SIGNATURE
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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 thereunto duly authorized.
McCLAIN INDUSTRIES, INC.
(Registrant)
Date: July 28, 1999 By: Mark Mikelait
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Mark Mikelait
Treasurer
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
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99.A McClain News Release July 28, 1999
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EXHIBIT 99.A
MCCLAIN NEWS RELEASE
EXHIBIT A
FOR IMMEDIATE RELEASE
NASDAQ CONTACT: MARK MIKELAIT
Symbol MCCL TREASURER
TEL: (419) 468-2120
FAX: (419) 468-4895
McCLAIN INDUSTRIES, INC.
ANNOUNCES RECORD SALES AND EARNINGS
FOR THE THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1999
Sterling Heights, Michigan, July 28, 1999 - McClain Industries, Inc. NASDAQ
Symbol (MCCL), today announced record sales and earnings for the third quarter
and nine months ended June 30, 1999.
Sales for the third quarter ended June 30, 1999 were a record $42,932,485
compared to $33,441,088 for the same quarter a year earlier. Net income was a
record $1,561,339 or .33 a share compared to $1,060,453 or $.23 a share for the
same quarter a year earlier.
Sales for the nine months ended June 30, 1999 were a record $101,946,172
compared to $80,681,338 a year earlier. Net income was a record $3,064,476
or $.65 a share compared to $1,729,890 or $.37 a share during the prior year.
"We are extremely pleased with our results for the three months and nine months
ended June 30, 1999," said Kenneth D. McClain, President and Chief Executive
Officer. "We continue to meet our Fiscal 1999 goals of improved gross profit
margins, sales and earnings."
McClain Industries is one of the nation's leading manufacturers of solid waste
handling and transportation equipment for the waste disposal and recycling
industry and of a diversified line of dump truck bodies.
Condensed Consolidated Statements of Operations
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(Unaudited)
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<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
June 30, June 30,
1999 1998 1999 1998
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<S> <C> <C> <C> <C>
Net Sales $42,932,485 $33,441,485 $101,946,172 $80,681,338
Cost of Sales 35,247,417 27,487,916 83,666,479 65,977,131
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Gross Profit 7,685,068 5,953,172 18,279,693 14,704,207
Selling & Administrative 4,683,884 3,548,809 12,023,313 10,086,462
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Operating Profit 3,001,184 2,404,363 6,256,380 4,617,745
Other Income (Expense) (635,845) (792,910) (1,612,904) (1,996,855)
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Income Before Income Taxes 2,365,339 1,611,453 4,643,476 2,620,890
Provision for Income Taxes 804,000 551,000 1,579,000 891,000
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Net Income $ 1,561,339 $ 1,060,453 $ 3,064,476 $ 1,729,890
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Earnings Per Share $ .33 $ .23 $ .65 $ .37
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Shares Outstanding 4,669,552 4,684,439 4,669,552 4,684,439
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</TABLE>
