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): November 4, 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
Check the appropriate box below if the Form 8-K is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] 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))
Total pages: 6
Exhibit index at: 3
Item 2.02 Results of Operations and Financial Condition.
On November 4, 2004, Scott's Liquid Gold-Inc. announced in a press release its
operating results for the third quarter and first nine months of 2004. The
press release is attached as Exhibit 99.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
The following exhibit accompanies this Report:
Exhibit No. Document
99 Press Release dated November 4, 2004
concerning results of operations.
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: November 4, 2004 /s/ Jeffry B. Johnson
----------------------------
By: Jeffry B. Johnson
Chief Financial Officer and
Treasurer
EXHIBIT INDEX
Exhibit
Number Document
99 Press Release dated November 4, 2004 concerning results of
operations.
Exhibit 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
REPORTS THIRD QUARTER OPERATING RESULTS
DENVER, Colorado (November 4, 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 third quarter and
first nine months of the year 2004.
For the three months ended September 30, 2004, the Company reported a net
loss of $359,800, or ($0.03) per share, on net sales of $5,116,700. These
results compared with net income of $231,100, or $0.02 per share, and net
sales of $6,023,600, in the third quarter of 2003.
For the nine months ended September 30, 2004, the Company reported a net loss
of $986,500, or ($0.10) per share compared with net loss of $931,700, or
($0.09) per share, in the corresponding period of the previous year. Net
sales totaled approximately $15.6 million in the first nine months of the
current year, versus approximately $17.4 million in the year-earlier period.
"While we are disappointed to report an unprofitable nine months," commented
Mark E. Goldstein, Chairman and Chief Executive Officer of Scott's Liquid
Gold-Inc., "the Company did experience a small increase in sales of household
chemical products, and the Company has commenced the introduction of an
additional wood care product during this period; however, sales have been
minimal so far. During the first nine months of 2004 the Company experienced
a decrease in sales of its skin care products including the Montagne Jeunesse
line of products; however, the Company is expecting an increase in sales of
Montagne Jeunesse products in the fourth quarter of 2004, compared to the
third quarter of 2004, due to holiday sales. The loss for 2004 was primarily
due to slower sales of skin care products, including Montagne Jeunesse
products."
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 and other 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; 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:
Jeff Johnson at (303) 373-4860
SCOTT'S LIQUID GOLD-INC. & SUBSIDIARIES
Consolidated Statements of Operations (Unaudited)
Three Months Nine Months
Ended September 30, Ended September 30,
------------------------- ------------------------
2004 2003 2004 2003
----------- ----------- ----------- -----------
Net sales $ 5,116,700 $ 6,023,600 $15,633,600 $17,367,300
Operating costs
and expenses:
Cost Of Sales 3,129,000 3,302,200 8,849,600 9,223,500
Advertising 101,000 171,100 738,100 1,671,700
Selling 1,381,200 1,402,900 4,162,600 4,410,300
General and
administrative 835,700 875,400 2,772,400 2,875,100
----------- ----------- ----------- -----------
5,446,900 5,751,600 16,522,700 18,180,600
----------- ----------- ----------- -----------
Income (loss) from
operations (330,200) 272,000 (889,100) (813,300)
Interest income 10,400 12,100 30,900 46,600
Interest expense (40,000) (53,000) (128,300) (165,000)
----------- ----------- ----------- -----------
(359,800) 231,100 (986,500) (931,700)
Income tax expense
(benefit) - - - -
----------- ----------- ----------- -----------
Net income (loss) $ (359,800) $ 231,100 $ (986,500) $ (931,700)
=========== =========== =========== ===========
Net income (loss) per
common share:
Basic $ (.03) $ .02 $ (.10) $ (.09)
=========== =========== =========== ==========
Diluted $ (.03) $ .02 $ (.10) $ (.09)
=========== =========== =========== ==========
Weighted average
shares outstanding:
Basic 10,387,900 10,187,100 10,368,600 10,164,400
=========== =========== =========== ===========
Diluted 10,387,900 10,203,500 10,368,600 10,164,400
=========== =========== =========== ===========