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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 18, 1997
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MELAMINE CHEMICALS, INC.
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(Exact name of registrant as specified in its charter)
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DELAWARE 0-16032 64-0475913
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(State or other jurisdiction (Commission File Number) (IRS Employer Identification
of incorporation) No.)
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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 18, 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 July 18, 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: July 21, 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 July 18, 1997 5
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EXHIBIT 99
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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 18, 1997
Immediate Release
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MELAMINE CHEMICALS, INC. REPORTS YEAR END EARNINGS
DONALDSONVILLE, LOUISIANA, JULY 18, 1997--Melamine Chemicals, Inc. (NASDAQ-
MTWO) reported fourth quarter earnings of $11.4 million and twelve month
earnings of $14.7 million. These are equivalent to $2.04 and $2.63 per share,
respectively. For the same periods in the prior year, earnings for the quarter
were $46,000 (1 c.) and $2.7 million (50 c.) for the twelve months.
The results for both the quarter and the full year were greatly
impacted by the gain after tax of $10.7 million ($1.90 per share) recognized
from the technology sale to DSM which closed in April. The early exchanges of
technical information under the agreement appear to offer considerable benefit
to both companies which hopefully will continue throughout the next fiscal year
and beyond.
The operational results for fiscal year 1997 included new records in
revenues, pounds produced and pounds sold despite a scheduled plant maintenance
shutdown in April and a second, unplanned outage in late June. With inventories
already at a very low level, numerous scheduled shipments had to be delayed
beyond fiscal year-end.
Fred Huber, president and chief executive officer, said, "Worldwide
demand remains very strong and with no new capacity expansion expected for many
months things are expected to remain very tight for some time. We continue to
evaluate capacity increases ourselves, which we hope will help us and our
customers but will have little negative impact on the overall market. Raw
material prices which began fiscal 1997 at very high levels have declined for
three successive quarters so we look to the new year with optimism and the old
year with satisfaction."
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 Twelve Months Ended
June 30, June 30,
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1997 1996 1997 1996
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Net Sales $ 15,071 17,537 59,978 55,619
Net Earnings $ 11,451 46 14,742 2,730
Earnings Per Share $ 2.04 .01 2.63 .50
Average Shares Outstanding 5,524,400 5,455,300 5,472,658 5,453,633
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