SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 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 22, 2004
CALGON CARBON CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 1-10776 | 25-0530110 | ||
| (State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
| P. O. Box 717, Pittsburgh, PA 15230-0717 | 15230-0717 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (412) 787-6700
Item 9. Regulation FD Disclosure
In the fourth quarter of 2003, management completed a strategic planning process that included reviewing how the Company compiled and reported financial information to the Company’s Chief Operating Decision Maker for its four business segments, Activated Carbon, Service, Engineered Solutions, and Consumer.
Management concluded as part of this review that the Activated Carbon and Service segments were more appropriately reflected on a combined basis, certain equipment related service revenue and associated costs previously reported in the Engineered Solutions segment would instead be better aligned in the newly formed Carbon and Service segment and certain service equipment sales and associated costs previously reported in the Service segment would be aligned better in the Engineered Solutions segment which has been re-named the Equipment segment. As a result of the aforementioned review, beginning in the first quarter of 2004, the Company’s Chief Operating Decision Maker receives and reviews financial information in the new form.
The Company’s Consumer segment was not changed and remains in the same form as it did prior to December 31, 2003.
The following is the segment data for the quarterly periods from January 1, 2003 to December 31, 2003 as reported in the Company’s public filings with the Securities and Exchange Commission and restated to reflect the aforementioned change in segment reporting.
A. SEGMENT INFORMATION – AS REPORTED
| For the Three Months Ended |
|||||||||||||||
| 31-Mar-03 |
30-Jun-03 |
30-Sep-03 |
31-Dec-03 |
||||||||||||
| Net Sales |
|||||||||||||||
| Activated Carbon |
$ | 27,281 | $ | 29,359 | $ | 26,429 | $ | 25,311 | |||||||
| Service |
21,350 | 24,989 | 24,677 | 25,182 | |||||||||||
| Engineered Solutions |
8,434 | 11,533 | 8,461 | 12,342 | |||||||||||
| Consumer |
6,985 | 12,204 | 6,996 | 6,789 | |||||||||||
| $ | 64,050 | $ | 78,085 | $ | 66,563 | $ | 69,624 | ||||||||
| Income (loss) from operations before depreciation, amortization & restructuring |
|||||||||||||||
| Activated Carbon |
$ | 2,871 | $ | 4,159 | $ | 3,412 | $ | 3,570 | |||||||
| Service |
1,459 | 3,567 | 3,779 | 3,284 | |||||||||||
| Engineered Solutions |
(580 | ) | 474 | (284 | ) | 531 | |||||||||
| Consumer |
(136 | ) | 1,488 | 4 | (215 | ) | |||||||||
| $ | 3,614 | $ | 9,688 | $ | 6,911 | $ | 7,170 | ||||||||
| Depreciation and amortization |
|||||||||||||||
| Activated Carbon |
$ | 2,488 | $ | 2,469 | $ | 2,253 | $ | 2,568 | |||||||
| Service |
1,820 | 1,817 | 1,903 | 2,031 | |||||||||||
| Engineered Solutions |
196 | 167 | 202 | 237 | |||||||||||
| Consumer |
396 | 436 | 387 | 419 | |||||||||||
| $ | 4,900 | $ | 4,889 | $ | 4,745 | $ | 5,255 | ||||||||
| 31-Mar-03 |
30-Jun-03 |
30-Sep-03 |
31-Dec-03 | |||||||||
| Total Assets |
||||||||||||
| Activated Carbon |
$ | 127,736 | $ | 132,392 | $ | 126,011 | $ | 123,326 | ||||
| Service |
90,153 | 91,124 | 90,731 | 98,182 | ||||||||
| Engineered Solutions |
46,034 | 48,411 | 52,051 | 55,814 | ||||||||
| Consumer |
23,510 | 25,894 | 23,141 | 24,873 | ||||||||
| $ | 287,433 | $ | 297,821 | $ | 291,934 | $ | 302,195 | |||||
B. SEGMENT INFORMATION – RESTATED
| For the Three Months Ended |
||||||||||||||||
| 31-Mar-03 |
30-Jun-03 |
30-Sep-03 |
31-Dec-03 |
|||||||||||||
| Net Sales |
||||||||||||||||
| Carbon and Service |
$ | 51,196 | $ | 56,810 | $ | 52,325 | $ | 51,855 | ||||||||
| Equipment |
5,869 | 9,071 | 7,242 | 10,980 | ||||||||||||
| Consumer |
6,985 | 12,204 | 6,996 | 6,789 | ||||||||||||
| $ | 64,050 | $ | 78,085 | $ | 66,563 | $ | 69,624 | |||||||||
| Income (loss) from operations before depreciation, amortization & restructuring |
||||||||||||||||
| Carbon and Service |
$ | 5,020 | $ | 8,599 | $ | 7,522 | $ | 6,917 | ||||||||
| Equipment |
(1,270 | ) | (399 | ) | (615 | ) | 468 | |||||||||
| Consumer |
(136 | ) | 1,488 | 4 | (215 | ) | ||||||||||
| 3,614 | 9,688 | 6,911 | 7,170 | |||||||||||||
| Depreciation and amortization |
||||||||||||||||
| Carbon and Service |
$ | 4,312 | $ | 4,254 | $ | 4,188 | $ | 4,563 | ||||||||
| Equipment |
192 | 199 | 170 | 273 | ||||||||||||
| Consumer |
396 | 436 | 387 | 419 | ||||||||||||
| $ | 4,900 | $ | 4,889 | $ | 4,745 | $ | 5,255 | |||||||||
| 31-Mar-03 |
30-Jun-03 |
30-Sep-03 |
31-Dec-03 | |||||||||
| Total Assets |
||||||||||||
| Carbon and Service |
$ | 216,286 | $ | 219,703 | $ | 214,904 | $ | 216,211 | ||||
| Equipment |
47,637 | 52,224 | 53,889 | 61,111 | ||||||||
| Consumer |
23,510 | 25,894 | 23,141 | 24,873 | ||||||||
| $ | 287,433 | $ | 297,821 | $ | 291,934 | $ | 302,195 | |||||
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.
| CALGON CARBON CORPORATION | ||||
| (REGISTRANT) | ||||
| Date: April 22, 2004 |
By |
/s/ Leroy M. Ball | ||
| Leroy M. Ball | ||||
| Chief Financial Officer | ||||