future8k.htm
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): October 15, 2008
FUTUREFUEL
CORP.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
(State or
Other Jurisdiction of Incorporation)
|
0-52577
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20-3340900
|
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
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8235
Forsyth Blvd., Suite 400
St.
Louis, Missouri 63105
(Address
of Principal Executive Offices)
(314)
854-8520
(Registrant’s
Telephone Number)
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:
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£
|
Written
communications pursuant to Rule 425 under the Securities
Act
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£
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Soliciting
material pursuant to Rule 14a-12 under the Exchange
Act
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£
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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£
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
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Item
2.02. Results of Operations and Financial Condition.
For the
third quarter of 2008, FutureFuel Corp. expects to report revenue of
approximately $60.5 million and pre-tax profit of $8.0 to $10.0
million. These preliminary results reflect growth of approximately
30% and 68%, respectively, as compared to results for the third quarter of 2007,
and utilizing the mid-point of the range provided for pre-tax
profit.
For the
year-to-date period ended September 30, 2008, FutureFuel Corp. expects to
report revenue of approximately $153.5 million and pre-tax profit of $21.5 to
$23.5 million. These preliminary results reflect growth of
approximately 22% and 216%, respectively, as compared to results for the same
year-to-date period of 2007, and utilizing the mid-point of the range provided
for pre-tax profit.
FutureFuel
Corp. is committed to being a leader in the development, production and sale of
biodiesel and has made progress towards this objective through the first nine
months of 2008. As of September 30, 2008, FutureFuel Corp.
believes it is one of the largest biodiesel producers in the country that
remains in active production as well as one of the few producers capable of
converting low cost animal fat feedstock into biodiesel that meets all of
today’s specifications. FutureFuel Corp. is equally committed to the
chemical industry, offering a customer-focused, attentive approach to both
long-term custom manufacturing projects as well as the development of new
multi-customer performance chemical products. The chemicals segment
remains critical to FutureFuel Corp.’s overall success.
All
preliminary results as provided herein have been rounded to the nearest
half-million dollars. While FutureFuel Corp. does not anticipate any
material changes to its preliminary results, it can provide no assurance that
revenue or pre-tax profit will be in line with the estimates or ranges indicated
within this release when reported in its third quarter Form 10-Q.
Finally,
as previously announced on October 1, 2008, FutureFuel Corp. declared a
special cash dividend of U.S. $0.70 per share on its common stock, with a record
date of October 22, 2008. For purposes of the record date, those
holders of FutureFuel Corp.’s warrants or options who properly exercise their
warrants or options on or before October 22, 2008 will be considered
holders of record on such date, whether or not new stock certificates have been
issued to such holders by that date.
FutureFuel
Corp. was created in 2005 as a special purpose acquisition vehicle to acquire
companies and make a notable impact in the biofuel and fuel
industries. In November 2006, FutureFuel Corp. acquired FutureFuel
Chemical Company (formerly named “Eastman SE, Inc.”) near Batesville,
Arkansas. Since then, FutureFuel Corp. has worked to become a leader
in the U.S. biofuel industry, while maintaining the Batesville facility’s status
as a world-class specialty chemical manufacturer.
FUTUREFUEL CORP.
By:
/s/ Douglas D.
Hommert
Douglas D. Hommert, Executive Vice
President,
Secretary and Treasurer
Date:
October 15, 2008