UNITED STATES
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): June 8, 2007 (June 6, 2007)
GREIF, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-00566 | 31-4388903 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 425 Winter Road, Delaware, Ohio | 43015 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (740) 549-6000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 2 – Financial Information
| Item 2.02. | Results of Operations and Financial Condition. |
On June 6, 2007, the Company issued a press release (the “Earnings Release”) announcing the financial results for its second quarter ended April 30, 2007. The full text of the Earnings Release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The Earnings Release included the following non-GAAP financial measures (the “non-GAAP Measures”): (i) net income before restructuring charges and timberland gains (losses); (ii) diluted earnings per Class A share and per Class B share before restructuring charges and timberland gains (losses); (iii) net income before restructuring charges, a debt extinguishment charge and timberland gains (losses); (iv) diluted earnings per Class A and Class B share before restructuring charges, a debt extinguishment charge and timberland gains (losses); and (v) operating profit before restructuring charges and timberland gains (losses). Net income before restructuring charges and timberland gains (losses) is equal to GAAP net income plus restructuring charges less timberland gains (losses), net of tax. Diluted earnings per Class A share and per Class B share before restructuring charges and timberland gains (losses) is equal to GAAP diluted earnings per Class A share and per Class B share plus restructuring charges less timberland gains (losses), net of tax. Net income before restructuring charges, a debt extinguishment charge and timberland gains (losses) is equal to GAAP net income plus restructuring charges plus a debt extinguishment charge less timberland gains (losses), net of tax. Diluted earnings per Class A share and per Class B share before restructuring charges, a debt extinguishment charge and timberland gains (losses) is equal to GAAP diluted earnings per Class A share and per Class B share plus restructuring charges plus a debt extinguishment charge less timberland gains (losses), net of tax. Operating profit before restructuring charges and timberland gains (losses) is equal to GAAP operating profit plus restructuring charges less timberland gains (losses).
The Company discloses the non-GAAP Measures described in Items (i) through (v), above, because management believes that these non-GAAP Measures are a better indication of the Company’s operational performance than GAAP net income, diluted earnings per Class A share and per Class B share and operating profit since they exclude restructuring charges and a debt extinguishment charge, which are not representative of ongoing operations, and timberland gains (losses), which are volatile from period to period. These non-GAAP Measures provide a more stable platform on which to compare the historical performance of the Company.
Section 9 – Financial Statements and Exhibits
| Item 9.01. | Financial Statements and Exhibits. |
| (c) | Exhibits. |
| Exhibit No. |
Description | |
| 99.1 |
Press release issued by Greif, Inc. on June 6, 2007, announcing the financial results for its second quarter ended April 30, 2007. |
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 hereunto duly authorized.
| GREIF, INC. | ||||
| Date: June 8, 2007 | By | /s/ Donald S. Huml | ||
| Donald S. Huml, Executive Vice President and Chief Financial Officer | ||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 |
Press release issued by Greif, Inc. on June 6, 2007, announcing the financial results for its second quarter ended April 30, 2007. |