SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 11, 1996
AK STEEL HOLDING CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE File No. 1-13696 31-1401455
(State or other (Commission file number) (IRS employer
jurisdiction of identification
incorporation) number)
703 Curtis Street, Middletown, Ohio 45043
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code:(513)425-5000
Not Applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
Filed herewith is a copy of a Press Release, dated July
10, 1996, issued by AK Steel Holding Corporation (the "Company")
to announce its earnings for the three months ended June 30,
1996. Included in the Press Release are statement of operations
and earnings per share data for the three months ended June 30,
1996 and June 30, 1995 and the six months ended June 30, 1996 and
June 30, 1995. All normal recurring adjustments that are, in the
opinion of management, necessary for a fair presentation of the
results of operations for the periods presented have been
included. The nature of the Company's business is such that the
results for any interim period are not necessarily indicative of
the results for a full year.
Also included in the Press Release is the Company's
announcement of a dividend of $0.15 per share of Common Stock
payable on August 15, 1996, to shareholders of record on July 22,
1996.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Financial Statements of business acquired:
Not applicable.
(b) Pro Forma financial information:
Not applicable.
(c) Exhibit:
(99) Press Release, dated July 10, 1996.
<PAGE>
Signatures
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.
AK Steel Holding Corporation
/s/ Randall F. Preheim
Vice President, General Counsel
and Secretary
Dated: July 11, 1996
<PAGE>
AK STEEL HOLDING CORPORATION
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description Page
(99) Press Release, dated July 10, 1996 5
(99)Press Release
AK STEEL REPORTS OPERATING PROFIT OF $63 PER TON
IN SECOND QUARTER
MIDDLETOWN, OH, July 10, 1996 -- AK Steel
(NYSE:AKS) reported earnings of $38.5 million, or
$1.24 per fully diluted share of common stock for
the second quarter of 1996. Operating profit, a
key industry measure, was $63 per ton for the
quarter.
Revenues for the 1996 second quarter were
$575.4 million on shipments of 1,105,200 tons,
which included a record 489,000 tons shipped to
automotive customers. The automotive market
shipments eclipsed AK Steel's record of 439,000
tons, set in the first quarter, by more than 11
percent.
"AK Steel has delivered another strong
quarter," said Thomas C. Graham, Chairman. "We
continue to realize the benefits of our recent
capital investments, efficient operations and a
strong market for high-end products."
Six Month Results
For the first six months of 1996, AK Steel
earned $75.5 million, or $2.44 per fully diluted
share of common stock. Revenues were $1,134.3
million on shipments of nearly 2.2 million tons in
the period. Operating profit was $137.1 million
for the first half, or $63 per ton.
Common Stock Dividend Declared
The company also said its board of directors
declared a common stock dividend of $0.15 per
share, payable on August 15, 1996, to shareholders
of record on July 22, 1996.
AK Steel produces carbon flat-rolled steel
for automotive, appliance, construction and
manufacturing markets and employs about 5,700
people.
<PAGE>
AK Steel Statement of Operations & Earnings Per Share Data
($ Millions except per share data)
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
Shipments (000 tons) 1,105 1,067 2,169 2,180
Net Sales $575.4 $595.9 $1,134.3 $1,206.3
Cost of Products Sold 456.5 460.2 901.0 945.6
Selling and Admin. Exp. 29.0 30.1 56.2 57.9
Depreciation 20.0 19.2 40.0 8.5
Total Operating Costs 505.5 509.5 997.2 1,042.0
Operating Profit 69.9 86.4 137.1 164.3
Interest Expense 9.5 9.2 18.9 18.3
Other Income 2.8 5.1 5.6 8.0
Income Before Income 63.2 82.3 123.8 154.0
Taxes
Income Tax Provision 24.7 3.9 48.3 7.3
Net Income 38.5 78.4 75.5 146.7
Less Preferred Stock 2.8 4.1 5.9 8.1
Dividends
Net Income Applicable $35.7 $74.3 $69.6 $138.6
to Common Stock
Earnings Per Share Data
Three Months Ended June 30,
1996 1995
Fully Fully
Primary Diluted Primary Diluted
Earnings Per Share $1.34 $1.24 $1.75 $1.53
Weighted Average 26,433 30,944 26,416 32,864
Shares Outstanding (000)
Six Months Ended June 30,
1996 1995
Fully Fully
Primary Diluted Primary Diluted
Earnings Per Share $2.65 $2.44 $3.26 2.86
Weighted Average 26,237 30,972 26,411 32,863
Shares Outstanding (000)
Adjusted to reflect a constant 30% book tax rate
for more valid comparisons to current earnings
