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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) OCTOBER 22, 1997
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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 October 22, 1997, 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 October 22, 1997.
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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: October 22, 1997 /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 October 22, 1997 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 October 22, 1997
Immediate Release
MELAMINE CHEMICALS, INC. REPORTS FIRST QUARTER EARNINGS
DONALDSONVILLE, LOUISIANA, OCTOBER 22, 1997-- Melamine Chemicals, Inc. (NASDAQ-
MTWO) reported net income of $159,000, equivalent to $.03 per share for the
first quarter of fiscal 1998. In the same period a year ago, earnings were
$1,053,000 or $.19 per share
According to Fred Huber, president and chief executive officer, the
results, while disappointing, are in line with the Company's expectations and
reflect a three-month restriction of urea supplies from the Company's raw
material supplier. As previously announced, the reduced feed rates led to the
loss of approximately seven million pounds of production, which had the double
effect of higher average production costs and correspondingly lower sales.
These effects were ameliorated somewhat by lower raw material costs and higher
selling prices. Normal production rates are expected to resume following the
raw material supplier's scheduled maintenance shutdown, which is scheduled to
be completed before the end of October. In addition, the first quarter results
were adversely affected by $200,000 of cost associated with the recently
announced merger agreement with Borden Chemical, Inc.
Melamine Chemicals, Inc. is engaged in the production and marketing of
melamine. 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
September 30,
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1997 1996
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Net Sales $11,842 15,357
Net Earnings $ 159 1,053
Earnings Per Share $ .03 .19
Average Shares Outstanding 5,597,606 5,455,300
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