American Metal & Technology, Inc. - Current report filing (8-K)
2008年5月12日 - 7:04PM
Edgar (US Regulatory)
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 9, 2008
AMERICAN METAL &
TECHNOLOGY, INC.
(Exact
name or registrant as specified in its charter)
Delaware
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33-19048-NY
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22-2856171
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(State
of incorporation or organization)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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633 W. 5
th
Street, 28th
Floor
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Los Angeles, CA
90071
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(Address
of Principal Executive Offices, Including Zip Code)
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(213)
223-2321
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(Registrant's
Telephone Number, Including Area Code)
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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
2.02 Results of Operations and Financial Condition.
American
Metal & Technology, Inc. (the “Company”) has announced in a press release
issued on May 9, 2008 its financial results for the first quarter ended March
31, 2008, as well as revised estimates for the full year ending December 31,
2008. The press release highlighted the Company’s growth during
the three months ended March 31, 2008, in which the Company recorded net sales
of $4.9 million, an increase of 133.3% compared to the same period in
2007. Among other financial data, the Company also announced a gross
profit of $1.5 million during the three months ended March 31, 2008, an increase
of 121.6% compared to the same period in 2007, and net income of $1.0 million,
an increase of 161.3% compared to the same period in 2007.
The
Company also further detailed its plans to invest $3 million to build additional
facilities at its Langfang manufacturing center. This second phase of the
Company’s four-phase expansion plan will add two buildings totaling
10,900 square meters, increasing annual capacity for casting products by 50% to
3,600 tons from 2,400 tons, while also enhancing its capabilities for the
development and manufacture of circuit board solutions. During the
three months ended March 31, 2008, the Company acquired and installed nine (9)
new high-precision lathe machines, and added an additional one (1) machine in
April 2008. The Company currently utilizes 60 lathe machines,
compared to 40 machine machines utilized a year ago.
The
Company also revised its forecasts for the full-year 2008, expecting net income
of $3.2 million to $3.4 million and earnings per shares of $0.29 to $0.32,
compared to net income of $2.9 million to $3.1 and earnings per share
of $0.27 to $0.29 projected after the full year ended December 31,
2007.
Safe
Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Certain of the statements made in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. These statements can be identified by the use of forward-looking
terminology such as "believe," "expect," "may," "will," "should," "project,"
"plan," "seek," "intend," or "anticipate" or the negative thereof or comparable
terminology. Such statements typically involve risks and uncertainties and may
include financial projections or information regarding our future plans,
objectives or performance. Actual results could differ materially from the
expectations reflected in such forward-looking statements as a result of a
variety of factors, including the risks associated with the effect of changing
economic conditions in The People's Republic of China, variations in cash flow,
reliance on collaborative retail partners and on new product development,
variations in new product development, risks associated with rapid technological
change, and the potential of introduced or undetected flaws and defects in
products, and other risk factors detailed in reports filed with the Securities
and Exchange Commission from time to time.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits
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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AMERICAN
METAL & TECHNOLOGY, INC.
(Registrant)
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Dated:
May 9, 2008
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By:
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/s/ Chen
Gao
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Chen
Gao
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Title:
President and CEO
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American Metal and Techn... (CE) (USOTC:AMGY)
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American Metal and Techn... (CE) (USOTC:AMGY)
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