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): August 11, 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 August __, 2004
concerning
results of operations.
Item 12. Results of Operations and Financial Condition.
On August 11, 2004, Scott's Liquid Gold-Inc. announced in a press
release its operating results for the second quarter and first six
months 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)
Date: August 11, 2004 /s/ Jeffry B. Johnson
-------------------------------
By: Jeffry B. Johnson
Chief Financial Officer and
Treasurer
EXHIBIT INDEX
Exhibit
Number Document
99 Press Release dated August 11, 2004 concerning
results of operations.
Exhibit 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES SECOND QUARTER OPERATING RESULTS
DENVER, Colorado (August 11, 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 second quarter and first six months of the year 2004.
For the three months ended June 30, 2004, net sales were
$5,307,900 compared with net sales of $5,608,000 in the second
quarter of the previous year. The Company reported a net loss
for the quarter of $275,900, or ($0.03) per share, versus a net
loss of $746,500 or ($0.07) per share, in the three months ended
June 30, 2003.
Net sales for the six months ended June 30, 2004 totaled
$10,516,900, compared with $11,343,700 in 2003. The Company
reported a first half 2004 net loss of $626,700, or ($0.06)
per share, as compared with a net loss of $1,162,800, or
($0.11) per share, in the six months ended June 30, 2003.
Mark E. Goldstein, Chairman of the Board and Chief Executive
Officer of Scott's Liquid Gold-Inc., commented: "During the
first half of 2004 the Company experienced a small increase in
Scott's Liquid Gold for wood and Touch of Scent air freshener
sales but experienced a decrease in our skin are products
including the Montagne Jeunesse line of products. The loss
was primarily due to slower sales of Montagne Jeunesse in the
first half 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 June 30, Six months ended June 30,
---------------------- -------------------------
2004 2003 2004 2003
----------- ----------- ----------- -----------
Net sales $ 5,307,900 $ 5,608,000 $10,516,900 $11,343,700
Operating costs
and expenses:
Cost of sales 2,970,000 3,063,300 5,720,600 5,921,300
Advertising 173,400 691,600 637,100 1,500,600
Selling 1,457,500 1,587,000 2,781,400 3,007,400
General and
administrative 950,200 975,700 1,936,700 1,999,700
----------- ----------- ----------- -----------
5,551,100 6,317,600 11,075,800 12,429,000
----------- ----------- ---------- -----------
Loss from
operations (243,200) (709,600) (558,900) (1,085,300)
Interest income 9,900 18,200 20,500 34,500
Interest expense (42,600) (55,100) (88,300) (112,000)
----------- ----------- ----------- -----------
(275,900) (746,500) (626,700) (1,162,800)
Income tax
expense (benefit) - - - -
----------- ----------- ----------- -----------
Net loss $ (275,900) $ (746,500) $ (626,700) $(1,162,800)
=========== =========== =========== ===========
Net loss per common
share:
Basic $ (0.03) $ (0.07) $ (0.06) $ (0.11)
=========== =========== =========== ===========
Diluted $ (0.03) $ (0.07) $ (0.06) $ (0.11)
=========== =========== =========== ===========
Weighted average shares
outstanding:
Basic 10,361,900 10,153,100 10,359,000 10,153,100
=========== =========== =========== ===========
Diluted 10,361,900 10,153,100 10,359,000 10,153,100
=========== =========== =========== ===========