SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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, 1994
JEFFERSON SMURFIT CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-11951 36-2931273
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
Jefferson Smurfit Centre
8182 Maryland Avenue
St. Louis, Missouri 63105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(314) 746-1100
Not Applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
On April 25, 1994, Jefferson Smurfit Corporation issued the
press release, attached hereto as Exhibit 99.1, announcing
preliminary financial results for the first quarter of 1994.
Item 7. Financial Statements and Exhibits
Exhibits
99.1 Press release issued April 25, 1994.
<PAGE>
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 hereunto duly authorized, on April
25, 1994.
JEFFERSON SMURFIT CORPORATION
By: /s/ John R. Funke
John R. Funke
Vice President and
Chief Financial Officer
EXHIBIT
FOR IMMEDIATE RELEASE Contact: Gary Riepl
314/746-1100
JEFFERSON SMURFIT CORPORATION
PRELIMINARY THREE MONTHS CONSOLIDATED RESULTS
St. Louis, MO, April 25, 1994 . . . Jefferson Smurfit Corporation
announced preliminary financial results for the first quarter of
1994. For the three months ended March 31, 1994, the Company's net
sales decreased 1.1% to $727.7 million compared to $735.9 million
for the same period last year, its income from operations increased
17.6% to $46.8 million compared to $39.8 million last year and its
net loss decreased to $11.8 million compared to a net loss of $32.0
million last year.
The decrease in net sales was due primarily to the shutdown of
several of the Company's operating facilities which have
experienced continuing poor performance over the last several
years, including the Lockland, Ohio coated recycled boxboard mill,
two folding carton plants, three shipping container plants and two
reclamation facilities. The shutdowns were provided for in the
Company's Restructuring Program announced last September. The
Company believes that much of the improvement in operating income
for 1994, in addition to that resulting from the shutdown of the
facilities listed above, was due to the Company's new six year plan
to reduce costs, increase volume and improve product mix. The net
loss for the three months ended March 31, 1993 included a loss of
$16.5 million for the cumulative effects of accounting changes
related to the adoption of SFAS No. 106, "Employers' Accounting for
Postretirement Benefits Other Than Pensions" and SFAS No. 109,
"Accounting for Income Taxes".
Jefferson Smurfit Corporation, headquartered in St. Louis,
Missouri, is one of the nation's most broadly based paper,
paperboard and packaging companies. JSC operates 147 mills and
converting facilities in the United States, Canada, Mexico and
Puerto Rico.
