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): May 6, 2004 SCOTT'S LIQUID GOLD-INC. (Exact name of Registrant as specified in its charter) Colorado 001-13458 84-0920811 (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) 4880 Havana Street Denver, CO 80239 (Address of principal executive offices) (Zip Code) Registrant's telephone number: (303) 373-4860 Total pages: 6 Exhibit index at: 3 Item 7. Financial Statements and Exhibits. (c) Exhibits. The following exhibit accompanies this Report Exhibit No. Document 99 Press Release dated May 6, 2004 concerning results of operations. Item 12. Results of Operations and Financial Condition. On May 6, 2004, Scott's Liquid Gold-Inc. announced in a press release its operating results for the first quarter of 2004. The press release is attached as Exhibit 99. 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. SCOTT'S LIQUID GOLD-INC. (Registrant) /s/ Jeffry B. Johnson -------------------------- By: Jeffry B. Johnson Chief Financial Officer and Treasurer Date: May 6, 2004 EXHIBIT INDEX Exhibit Number Document 99 Press Release dated May 6, 2004 concerning results of operations. EXHIBIT 99 For Immediate Release SCOTT'S LIQUID GOLD-INC. ANNOUNCES FIRST QUARTER OPERATING RESULTS DENVER, Colorado (May 6, 2004) -- Scott's Liquid Gold-Inc. (OTC BB: "SLGD"), which develops, manufactures and markets household and skin care products, today announced its operating results for the first quarter of 2004. For the three months ended March 31, 2004, net sales were $5,209,000 compared with net sales of $5,735,700 in the first quarter of the previous year. The Company reported a net loss of $350,800 or ($0.03) per share, in the most recent quarter, versus a net loss of $416,300, or ($0.04) per share, in the three months ended March 31, 2003. Mark E. Goldstein, Chairman of the Board and Chief Executive Officer of Scott's Liquid Gold-Inc., commented: "During the quarter the Company experienced a small increase in Scott's Liquid Gold for wood sales but experienced a decrease in our skin care products including the Montagne Jeunesse line of products. The loss was primarily due to slower sales of Montagne Jeunesse products in the first quarter of 2004 versus the same period in 2003." Scott's Liquid Gold-Inc. develops, manufactures and markets high quality household and consumer products, including Scott's Liquid Gold wood cleaners/preservatives, Touch of Scent air fresheners, Alpha Hydrox skin care products, and Neoteric Diabetic Skin Care products. Scott's Liquid Gold-Inc. also distributes skin care sachets of Montagne Jeunesse. The Company is headquartered in Denver, Colorado, and its common stock trades on the OTC Bulletin Board under the symbol "SLGD". Additional information on Scott's Liquid Gold-Inc. and its products can be accessed on the World Wide Web: www.scottsliquidgold.com, www.alphahydrox.com, www.touchofscent.com, and www.neotericdiabetic.com. This press release may contain "forward-looking" statements within the meaning of U.S. federal securities laws. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements and the Company's performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace; acceptance in the marketplace of the Company's new product lines; competitive factors; continuation of the Company's distributorship agreement with Montagne Jeunesse; the need for effective advertising of the Company's products; limited resources available for such advertising; new product introductions by others; technological changes; dependence upon third-party vendors and upon sales to major customers; changes in the regulation of the Company's products, including applicable environmental regulations; adverse developments in pending litigation; the loss of any executive officer; and other risks discussed in this release and in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. For further information, please contact: Jeffry B. Johnson at (303) 373-4860 SCOTT'S LIQUID GOLD-INC. & Subsidiaries CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Quarter ended March 31, ----------------------------- 2004 2003 ------------- ------------- (Unaudited) (Unaudited) Net sales $ 5,209,000 $ 5,735,700 Operating costs and expenses: Cost of sales 2,750,600 2,858,000 Advertising 463,700 809,000 Selling 1,323,900 1,420,400 General and administrative 986,500 1,024,000 ----------- ------------ 5,524,700 6,111,400 ----------- ----------- Loss from operations (315,700) (375,700) Interest income 10,700 16,300 Interest expense (45,800) (56,900) ----------- ----------- (350,800) (416,300) Income tax expense (benefit) - - ----------- ----------- Net loss $ (350,800) $ (416,300) =========== =========== Loss per common share: Basic $ (0.03) $ (0.04) =========== =========== Diluted $ (0.03) $ (0.04) =========== =========== Weighted average shares outstanding: Basic 10,356,000 10,153,100 =========== =========== Diluted 10,356,000 10,153,100 =========== ===========