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): April 25, 1995
NL INDUSTRIES, INC.
(Exact name of registrant as specified in charter)
New Jersey 1-640 13-5267260
(State or other (Commission File No.) (Employer ID No.)
incorporation)
16825 Northchase Dr., Suite 1200, Houston, Texas 77060
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 423-3300
Not Applicable
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
On April 25, 1995, the Registrant issued the press release attached hereto
as Exhibit 99.1 and incorporated herein in its entirety by this reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(C) EXHIBITS
(i) Exhibit 99.1. Press Release dated April 25, 1995.
* * * * *
SIGNATURE
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.
NL INDUSTRIES, INC.
(Registrant)
/s/ Dennis G. Newkirk
Dennis G. Newkirk
Vice President & Controller
Dated: April 25, 1995
Dennis G. Newkirk
(713) 423-3332
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
NL REPORTS SHARPLY INCREASED EARNINGS
HOUSTON, TEXAS -- April 25, 1995 -- NL Industries, Inc. (NYSE:NL) announced net
income for the first quarter of 1995 of $13.1 million, or $.26 per share, on
sales of $251 million compared to a net loss in the first quarter of 1994 of
$6.4 million, or $.12 per share, on sales of $202 million. The improvement in
NL's results was driven by higher prices and improved sales and production
volumes for titanium dioxide pigments ("TiO2"). J. Landis Martin, President and
CEO, stated, "NL reported its second consecutive profitable quarter mainly due
to the strengthened market conditions, particularly in Europe, for TiO2. We
believe the worldwide outlook for the TiO2 industry is improving and continues
to be promising."
Operating income of Kronos' TiO2 business in the first quarter of 1995 was $32.5
million, more than double the first quarter of 1994, on a 25% increase in sales.
Average TiO2 selling prices for the quarter were 11% higher than the first
quarter of 1994 and 5% higher than year-end 1994. Kronos' first quarter sales
volumes increased 9% over the same period in 1994.
Rheox's operating income rose $2.7 million from the year earlier period to $9.5
million on higher sales volumes and selling prices.
NL Industries, Inc. is a major international producer of titanium dioxide
pigments and specialty chemicals.
NL INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
<TABLE>
<CAPTION>
Quarters ended
March 31,
1994 1995
<S> <C> <C>
Net sales:
Kronos $174.2 $217.4
Rheox 27.6 33.5
$201.8 $250.9
Operating income:
Kronos $ 15.4 $ 32.5
Rheox 6.9 9.5
Operating income 22.3 42.0
General corporate income (expense):
Securities earnings .2 2.5
Expenses, net (.6) (4.6)
Interest expense (21.1) (20.7)
Income before income taxes .8 19.2
Income tax expense (7.0) (5.8)
Minority interest (.2) (.3)
Net income (loss) $ (6.4) $ 13.1
Per share of common stock $ (.12) $ .26
Weighted average common shares outstanding 51.0 51.1
</TABLE>
