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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: February 9, 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
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See the press release announcing operating results for the quarter
ended December 31, 1998, attached hereto as Exhibit 99.1.
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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: February 9, 1999 By: /s/ Mark Mikelait
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Mark Mikelait
Treasurer
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INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
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99.1 Press Release Dated December 31, 1998
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EXHIBIT 99.1
[McCLAIN NEWS RELEASE]
FOR IMMEDIATE RELEASE
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NASDAQ CONTACT: MARK MIKELAIT
Symbol MCCL TREASURER
TEL: (419)468-2120
FAX: (419)468-4895
MCCLAIN INDUSTRIES, INC.
ANNOUNCES RECORD EARNINGS FOR FIRST QUARTER IN FISCAL 1999
Sterling Heights, Michigan, February 9, 1999 - McClain Industries, Inc.
NASDAQ Symbol (MCCL), today announced record sales and earnings for the first
quarter ended December 31, 1998.
Sales for the first quarter in fiscal 1999 increased 14% to a record
$27,156,906 from $23,625,324 for the same quarter in fiscal 1998. Net income
for the first quarter of fiscal 1999 was a record $561,486 or $.12 a share,
compared to net income of $337,537 or $.07 a share during the same quarter in
fiscal 1998.
"The first quarter sales increase of 14% from the previous years first quarter
was within our projections," said Kenneth D. McClain, President and Chief
Executive officer. "Demand for our products continues to improve and shows our
sales and marketing efforts are producing positive results. We expect the
upward sales trend to continue during fiscal 1999, particularly in the solid
waste product lines."
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.
<TABLE>
<CAPTION>
THREE MONTHS ENDED
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DECEMBER 31, 1998 DECEMBER 31, 1997
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<S> <C> <C>
Net Sales $27,156,906 $23,625,324
Net Income $ 561,486 $ 337,537
Earnings Per Share $ .12 $ .07
Average Shares Outstanding 4,682,160 4,762,953
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