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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) JULY 30, 1996
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MELAMINE CHEMICALS, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-16032 64-0475913
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
HIGHWAY 18 WEST
DONALDSONVILLE, LOUISIANA 70346
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICER) (ZIP CODE)
Registrant's telephone number, including area code (504) 473-3121
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ITEM 5. OTHER EVENTS
On July 30, 1996, the Registrant issued the press release filed herewith
as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS
Exhibits.
99. Press release dated July 30, 1996.
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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: July 30, 1996 /s/ Wayne D. DeLeo
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Wayne D. DeLeo
Vice President & Chief Financial Officer
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INDEX TO EXHIBITS
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Exhibit Page
No. Exhibit Number
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99 Press Release dated July 30, 1996 5
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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 July 30, 1996
Immediate Release
MELAMINE CHEMICALS, INC. REPORTS YEAR END RESULTS
DONALDSONVILLE, LOUISIANA, JULY 30--Melamine Chemicals, Inc.'s (NASDAQ-MTWO)
today announced the results of operations for the quarter and twelve months
ended June 30, 1996.
Net earnings for fiscal 1996 were $2.7 million or $0.50 per share as
compared with the prior year's earnings of $3.3 million or $0.60 per share. A
$1.9 million pre-tax charge in the Company's fourth fiscal quarter associated
with project expenses led to the unfavorable comparison. The charge was
partially offset by the resolution of a contract dispute in which a gain of
$480,000 was recognized. Net earnings for the three months ended June 30, 1996
were $46,000 compared to $299,000 a year ago.
Fred Huber, president and chief executive officer stated, "Operationally,
it was an extremely gratifying year. Sales increased by 22% and operating
income by 26% in a year of very high raw material and energy costs. Production
volume increased by 6% to an all-time record, but in so doing, we have about
reached the limits of our plants' capacity in their present configuration.
"It was certainly disappointing not to have our potential off-site
expansion projects pan out, but the combination of a strong market, our
financial strength, and two process patents provides us with a great
opportunity to make both short- and long-term expansions at our home site in
Donaldsonville. Planning for those expansions is proceeding as quickly as
possible. In addition, we will continue to be alert for suitable off-site
expansion opportunities. We have complete confidence in our technology and in
ongoing market growth."
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 Twelve Months Ended
June 30, June 30,
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1996 1995 1996 1995
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Net Sales $ 17,537 12,371 55,619 45,501
Net Earnings $ 46 299 2,730 3,333
Earnings Per Share $ .01 .06 .50 .60
Average Shares Outstanding 5,455,300 5,450,300 5,453,633 5,450,250
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