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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 13, 1995
MELAMINE CHEMICALS, INC.
(Exact name of registrant as specified in its charter)
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DELAWARE 0-16032 64-0475913
(State or other jurisdiction (Commission File Number) (IRS Employer Identification No.)
of incorporation)
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HIGHWAY 18 WEST
DONALDSONVILLE, LOUISIANA 70346
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICER) (ZIP CODE)
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Registrant's telephone number, including area code (504) 473-3121
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ITEM 5. OTHER EVENTS
On April 13, 1995 Melamine Chemicals, Inc. issued the attached press
release.
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For: MELAMINE CHEMICALS, INC. Contact: RON COMO & ASSOCIATES, INC.
P.O. Box 748 74 Trinity Place
Donaldsonville, LA 70346 New York, NY 10006
Fred Huber, President & CEO Telephone: (212) 227-3010
Wayne D. DeLeo, Vice President & CFO
Telephone: (504) 473-3121 April 13, 1995
Immediate Release
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MELAMINE CHEMICALS, INC. REPORTS NINE MONTHS RESULTS
DONALDSONVILLE, LOUISIANA, APRIL 13TH--Melamine Chemicals, Inc. (NASDAQ-MTWO),
today announced the unaudited results of its operations for the quarter and
nine months ended March 31, 1995.
Net earnings for the nine months ended March 31, 1995 were $3.0
million or $.55 per share as compared to net losses of $2.5 million or $.46 per
share a year ago. For the three months ended March 31, 1995, net earnings were
$1.6 million or $.29 per share as compared to net earnings of $643,000 or $.12
per share for the same period in fiscal 1994.
Fred Huber, president and chief executive officer, stated that the
results for the first nine months of fiscal 1995 reflect 18% higher sales
prices and 16% lower production costs per pound compared with the prior year.
The quarter ended March 31, 1995 includes a $595,000 tax benefit from a
settlement reached with the IRS in connection with their audit of fiscal 1987
through 1994. The third quarter of fiscal 1994 included a $1.1 million after
tax gain from the sale of fertilizer technology. While sales prices are
expected to improve further in the fourth quarter of fiscal 1995, the benefits
of the price improvement are expected to be offset by additional raw material
price increases. The worldwide demand for melamine continues to be very strong
and the Company is examining various ways to increase its production capacity
to satisfy that demand.
Melamine Chemicals, Inc. is engaged in the production and marketing of
melamine, a specialty chemical having numerous industrial and commercial
applications. The Company is also active in the development of new melamine
process and application technology. The Company is one of only two producers
of melamine in North America and one of the three largest producers worldwide.
COMPARATIVE OPERATING RESULTS
(THOUSANDS OF DOLLARS EXCEPT SHARE AND PER SHARE DATA)
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Quarter Ended Nine Months Ended
March 31, March 31,
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1995 1994 1995 1994
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Net Sales $ 12,156 10,024 33,130 27,707
Net Earnings (Losses) $ 1,593 643 3,034 (2,533)
Earnings (Loss) Per Share $ .29 .12 .55 (.46)
Average Shares Outstanding 5,450,300 5,450,000 5,450,233 5,450,000
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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.
MELAMINE CHEMICALS, INC.
Date: April 13, 1995 /s/ Wayne D. DeLeo
Wayne D. DeLeo
Vice President & Chief Financial Officer
