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UNITED STATES |
OMB APPROVAL |
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SECURITIES AND EXCHANGE COMMISSION |
OMB Number: 3235-0060 |
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Washington,
D.C. 20549 |
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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 20, 2009
TRIMAS CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
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001-10716 |
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38-2687639 |
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(State or other jurisdiction |
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(Commission |
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(IRS Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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39400 Woodward Avenue, Suite 130, Bloomfield Hills, Michigan |
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48304 |
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(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including area code (248) 631-5400
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
TriMas Corporation (the “Corporation”) has attached hereto as Exhibit 99.1 financial information identifying the supplemental historical data for the new segmentation by quarter for fiscal years 2008 and 2009.
The attached information should be read together with the Corporation’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 10, 2009, the Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, filed with the SEC on August 5, 2009, and the Report on Form 8-K and Earnings Release filed with the SEC on August 4, 2009.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed herewith:
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Exhibit No. |
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Description |
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99.1 |
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2008 and 2009 New Segment Data Summary by Quarter |
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.
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TRIMAS CORPORATION |
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Date: |
August 20, 2009 |
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By: |
/s/ Joshua A. Sherbin |
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Name: |
Joshua A. Sherbin |
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Title: |
Vice President, General Counsel and Secretary |
2
Exhibit 99.1
2008 and 2009 New Segment Data by Quarter
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2009 |
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2008 |
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||||||||||||||||||||
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Q1 |
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Q2 |
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Q2
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Q1 |
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Q2 |
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Q3 |
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Q4 |
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Full Year |
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||||||||
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Net Sales: |
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|
|
|
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||||||||
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Packaging |
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$ |
30,250 |
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$ |
36,150 |
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$ |
66,400 |
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$ |
41,040 |
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$ |
44,520 |
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$ |
43,350 |
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$ |
32,420 |
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$ |
161,330 |
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Energy |
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40,270 |
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34,990 |
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75,260 |
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48,800 |
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53,160 |
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55,430 |
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56,360 |
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213,750 |
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||||||||
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Aerospace & Defense |
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22,200 |
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18,270 |
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40,470 |
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19,580 |
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21,640 |
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24,550 |
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29,530 |
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95,300 |
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||||||||
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Engineered Components |
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19,540 |
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15,700 |
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35,240 |
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33,890 |
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34,580 |
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34,690 |
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23,370 |
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126,530 |
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||||||||
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Cequent |
|
90,450 |
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103,540 |
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193,990 |
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121,280 |
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128,940 |
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102,710 |
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71,460 |
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424,390 |
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||||||||
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Total |
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$ |
202,710 |
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$ |
208,650 |
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$ |
411,360 |
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$ |
264,590 |
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$ |
282,840 |
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$ |
260,730 |
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$ |
213,140 |
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$ |
1,021,300 |
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Gross Profit: |
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||||||||
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Packaging |
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$ |
10,090 |
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$ |
13,260 |
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$ |
23,350 |
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$ |
13,960 |
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$ |
15,530 |
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$ |
14,220 |
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$ |
9,790 |
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$ |
53,500 |
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Energy |
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9,970 |
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8,090 |
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18,060 |
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14,530 |
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15,500 |
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14,680 |
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14,520 |
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59,230 |
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||||||||
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Aerospace & Defense |
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9,100 |
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8,580 |
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17,680 |
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8,910 |
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9,570 |
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10,920 |
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11,260 |
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40,660 |
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||||||||
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Engineered Components |
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1,580 |
|
980 |
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2,560 |
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6,930 |
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6,950 |
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5,740 |
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1,800 |
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21,420 |
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||||||||
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Cequent |
|
15,100 |
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18,700 |
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33,800 |
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25,600 |
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28,470 |
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23,070 |
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11,230 |
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88,370 |
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||||||||
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Total |
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$ |
45,840 |
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$ |
49,610 |
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$ |
95,450 |
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$ |
69,930 |
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$ |
76,020 |
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$ |
68,630 |
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$ |
48,600 |
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$ |
263,180 |
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Selling, General and Administrative: |
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Packaging |
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$ |
4,750 |
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$ |
4,590 |
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$ |
9,340 |
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$ |
5,400 |
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$ |
5,940 |
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$ |
6,130 |
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$ |
4,930 |
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$ |
22,400 |
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Energy |
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6,440 |
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5,430 |
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11,870 |
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6,610 |
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6,920 |
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6,500 |
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6,440 |
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26,470 |
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Aerospace & Defense |
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2,280 |
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2,170 |
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4,450 |
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2,370 |
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2,500 |
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2,280 |
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1,640 |
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8,790 |
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Engineered Components |
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2,060 |
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1,430 |
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3,490 |
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2,300 |
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2,460 |
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2,130 |
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1,700 |
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8,590 |
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Cequent |
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18,450 |
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15,790 |
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34,240 |
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20,100 |
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19,840 |
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19,060 |
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19,090 |
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78,090 |
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Corporate expenses |
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7,560 |
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4,700 |
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12,260 |
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5,220 |
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7,920 |
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5,060 |
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3,960 |
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22,160 |
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||||||||
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Total |
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$ |
41,540 |
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$ |
34,110 |
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$ |
75,650 |
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$ |
42,000 |
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$ |
45,580 |
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$ |
41,160 |
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$ |
37,760 |
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$ |
166,500 |
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Impairment Charges: |
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Packaging |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
62,490 |
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$ |
62,490 |
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Energy |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Aerospace & Defense |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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||||||||
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Engineered Components |
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— |
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— |
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— |
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— |
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— |
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— |
|
24,790 |
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24,790 |
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||||||||
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Cequent |
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— |
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— |
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— |
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— |
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— |
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— |
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85,440 |
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85,440 |
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Total |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
172,720 |
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$ |
172,720 |
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Operating Profit (Loss): |
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||||||||
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Packaging |
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$ |
5,400 |
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$ |
8,830 |
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$ |
14,230 |
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$ |
8,610 |
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$ |
9,620 |
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$ |
8,300 |
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$ |
(57,730 |
) |
$ |
(31,200 |
) |
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Energy |
|
3,520 |
|
2,660 |
|
6,180 |
|
7,910 |
|
8,590 |
|
8,170 |
|
8,070 |
|
32,740 |
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||||||||
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Aerospace & Defense |
|
6,810 |
|
6,410 |
|
13,220 |
|
6,540 |
|
7,050 |
|
8,640 |
|
9,620 |
|
31,850 |
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||||||||
|
Engineered Components |
|
(480 |
) |
(470 |
) |
(950 |
) |
4,620 |
|
4,430 |
|
3,470 |
|
(24,700 |
) |
(12,180 |
) |
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Cequent |
|
(3,350 |
) |
2,890 |
|
(460 |
) |
5,380 |
|
8,550 |
|
4,000 |
|
(93,360 |
) |
(75,430 |
) |
||||||||
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Corporate expenses |
|
(7,560 |
) |
(4,700 |
) |
(12,260 |
) |
(5,220 |
) |
(7,920 |
) |
(5,060 |
) |
(3,960 |
) |
(22,160 |
) |
||||||||
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Total |
|
$ |
4,340 |
|
$ |
15,620 |
|
$ |
19,960 |
|
$ |
27,840 |
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$ |
30,320 |
|
$ |
27,520 |
|
$ |
(162,060 |
) |
$ |
(76,380 |
) |
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|
|
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|
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|
|
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||||||||
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Capital Expenditures: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
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Packaging |
|
$ |
710 |
|
$ |
790 |
|
$ |
1,500 |
|
$ |
1,100 |
|
$ |
1,500 |
|
$ |
980 |
|
$ |
2,310 |
|
$ |
5,890 |
|
|
Energy |
|
770 |
|
430 |
|
1,200 |
|
1,020 |
|
920 |
|
1,420 |
|
1,740 |
|
5,100 |
|
||||||||
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Aerospace & Defense |
|
590 |
|
370 |
|
960 |
|
930 |
|
2,640 |
|
1,270 |
|
880 |
|
5,720 |
|
||||||||
|
Engineered Components |
|
200 |
|
910 |
|
1,110 |
|
1,980 |
|
760 |
|
2,350 |
|
1,780 |
|
6,870 |
|
||||||||
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Cequent |
|
1,010 |
|
640 |
|
1,650 |
|
980 |
|
1,300 |
|
450 |
|
2,280 |
|
5,010 |
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||||||||
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Corporate expenses |
|
— |
|
— |
|
— |
|
30 |
|
— |
|
— |
|
70 |
|
100 |
|
||||||||
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Total |
|
$ |
3,280 |
|
$ |
3,140 |
|
$ |
6,420 |
|
$ |
6,040 |
|
$ |
7,120 |
|
$ |
6,470 |
|
$ |
9,060 |
|
$ |
28,690 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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||||||||
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Depreciation and Amortization: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
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Packaging |
|
$ |
3,250 |
|
$ |
3,260 |
|
$ |
6,510 |
|
$ |
3,390 |
|
$ |
3,470 |
|
$ |
3,440 |
|
$ |
3,480 |
|
$ |
13,780 |
|
|
Energy |
|
760 |
|
760 |
|
1,520 |
|
680 |
|
610 |
|
680 |
|
820 |
|
2,790 |
|
||||||||
|
Aerospace & Defense |
|
600 |
|
600 |
|
1,200 |
|
430 |
|
450 |
|
450 |
|
630 |
|
1,960 |
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||||||||
|
Engineered Components |
|
1,050 |
|
1,050 |
|
2,100 |
|
1,040 |
|
1,020 |
|
980 |
|
1,000 |
|
4,040 |
|
||||||||
|
Cequent |
|
4,720 |
|
5,370 |
|
10,090 |
|
4,580 |
|
4,770 |
|
4,550 |
|
4,510 |
|
18,410 |
|
||||||||
|
Corporate expenses |
|
30 |
|
30 |
|
60 |
|
20 |
|
30 |
|
20 |
|
30 |
|
100 |
|
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Total |
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$ |
10,410 |
|
$ |
11,070 |
|
$ |
21,480 |
|
$ |
10,140 |
|
$ |
10,350 |
|
$ |
10,120 |
|
$ |
10,470 |
|
$ |
41,080 |
|
|
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|
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||||||||
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Adjusted EBITDA: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Packaging |
|
$ |
8,640 |
|
$ |
11,580 |
|
$ |
20,220 |
|
$ |
12,050 |
|
$ |
12,730 |
|
$ |
11,640 |
|
$ |
8,610 |
|
$ |
45,030 |
|
|
Energy |
|
4,280 |
|
3,500 |
|
7,780 |
|
8,630 |
|
9,190 |
|
8,850 |
|
8,760 |
|
35,430 |
|
||||||||
|
Aerospace & Defense |
|
7,410 |
|
7,010 |
|
14,420 |
|
6,980 |
|
7,500 |
|
9,080 |
|
10,250 |
|
33,810 |
|
||||||||
|
Engineered Components |
|
570 |
|
600 |
|
1,170 |
|
5,660 |
|
5,460 |
|
4,510 |
|
1,090 |
|
16,720 |
|
||||||||
|
Cequent |
|
1,340 |
|
8,160 |
|
9,500 |
|
9,580 |
|
12,800 |
|
8,560 |
|
(2,630 |
) |
28,310 |
|
||||||||
|
Corporate expenses |
|
7,630 |
|
7,250 |
|
14,880 |
|
(6,120 |
) |
(8,320 |
) |
(5,470 |
) |
(370 |
) |
(20,280 |
) |
||||||||
|
Subtotal from continuing operations |
|
$ |
29,870 |
|
$ |
38,100 |
|
$ |
67,970 |
|
$ |
36,780 |
|
$ |
39,360 |
|
$ |
37,170 |
|
$ |
25,710 |
|
$ |
139,020 |
|
|
Discontinued operations |
|
(11,240 |
) |
(250 |
) |
(11,490 |
) |
1,080 |
|
240 |
|
1,080 |
|
(5,060 |
) |
(2,660 |
) |
||||||||
|
Total |
|
$ |
18,630 |
|
$ |
37,850 |
|
$ |
56,480 |
|
$ |
37,860 |
|
$ |
39,600 |
|
$ |
38,250 |
|
$ |
20,650 |
|
$ |
136,360 |
|
|
Special Items to consider in evaluating operating profit (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Packaging |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(410 |
) |
$ |
(62,490 |
) |
$ |
(62,900 |
) |
|
Energy |
|
(200 |
) |
— |
|
(200 |
) |
— |
|
(320 |
) |
— |
|
— |
|
(320 |
) |
||||||||
|
Aerospace & Defense |
|
(110 |
) |
(20 |
) |
(130 |
) |
— |
|
(130 |
) |
— |
|
— |
|
(130 |
) |
||||||||
|
Engineered Components |
|
(160 |
) |
(10 |
) |
(170 |
) |
— |
|
(230 |
) |
(70 |
) |
(24,790 |
) |
(25,090 |
) |
||||||||
|
Cequent |
|
(3,340 |
) |
(2,120 |
) |
(5,460 |
) |
— |
|
— |
|
(200 |
) |
(86,840 |
) |
(87,040 |
) |
||||||||
|
Corporate |
|
(2,940 |
) |
— |
|
(2,940 |
) |
— |
|
(1,580 |
) |
(30 |
) |
(610 |
) |
(2,220 |
) |
||||||||
|
Total Special Items |
|
$ |
(6,750 |
) |
$ |
(2,150 |
) |
$ |
(8,900 |
) |
$ |
— |
|
$ |
(2,260 |
) |
$ |
(710 |
) |
$ |
(174,730 |
) |
$ |
(177,700 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Special Items to consider in evaluating Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Packaging |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(410 |
) |
$ |
— |
|
$ |
(410 |
) |
|
Energy |
|
(200 |
) |
— |
|
(200 |
) |
— |
|
(320 |
) |
— |
|
— |
|
(320 |
) |
||||||||
|
Aerospace & Defense |
|
(110 |
) |
(20 |
) |
(130 |
) |
— |
|
(130 |
) |
— |
|
— |
|
(130 |
) |
||||||||
|
Engineered Components |
|
(160 |
) |
(10 |
) |
(170 |
) |
— |
|
(230 |
) |
(70 |
) |
— |
|
(300 |
) |
||||||||
|
Cequent |
|
(2,850 |
) |
(950 |
) |
(3,800 |
) |
— |
|
— |
|
(200 |
) |
(1,400 |
) |
(1,600 |
) |
||||||||
|
Corporate |
|
(2,940 |
) |
— |
|
(2,940 |
) |
— |
|
(1,580 |
) |
(30 |
) |
(610 |
) |
(2,220 |
) |
||||||||
|
Total Special Items |
|
$ |
(6,260 |
) |
$ |
(980 |
) |
$ |
(7,240 |
) |
$ |
— |
|
$ |
(2,260 |
) |
$ |
(710 |
) |
$ |
(2,010 |
) |
$ |
(4,980 |
) |