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U.S. 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: July 9, 2003
(Date of earliest event reported)
ALBANY INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
| Delaware (State or other jurisdiction of incorporation) |
0-16214 (Commission file number) |
14-0462060 (IRS employer identification no.) |
||
1373 Broadway, Albany, New York 12204 (518) 445-2200 (Address and telephone number of the registrant's principal executive offices) |
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Item 9. Information Provided Under Item 12 (Results of Operations and Financial Condition)
The following information is furnished pursuant to Item 12, "Disclosure of Results of Operations and Financial Condition."
On July 9, 2003, Albany International issued a news release of second-quarter earnings expectations for the fiscal quarter ended June 30, 2003. A copy of the news release is furnished as Exhibit 99.1 to this report.
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.
| ALBANY INTERNATIONAL CORP. | |||
By: |
/s/ MICHAEL C. NAHL Name: Michael C. Nahl Title: Senior Vice President and Chief Financial Officer |
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Date: July 9, 2003
| Exhibit Number |
Description of Document |
|
|---|---|---|
| 99.1 | News release, dated July 9, 2003 issued by Albany International Corp. |
Signature
Index to Exhibits
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FOR IMMEDIATE RELEASE
ALBANY INTERNATIONAL ANNOUNCES
SECOND-QUARTER EARNINGS EXPECTATIONS
Albany, New York, July 9, 2003—Albany International Corp. (NYSE/PCX/FWB:AIN) announced today that second-quarter earnings are expected to be $0.49 per share as compared to last year's second quarter of $0.43 per share. As part of the $30 million cost reduction initiative announced in January of 2003, the Company reorganized its sales/service functions in Indonesia and announced the consolidation of its Barrie, Ontario, high-performance door facility into its U.S. operations. The $0.49 per share reflects severance, relocation, and other costs totaling $0.03 per share incurred in connection with this initiative.
Sales increased compared to the second quarter last year, principally due to the positive impact of the effect of changes in currency translation rates. During the quarter, cash increased approximately $21 million, while debt was approximately unchanged.
The Company will discuss further details regarding second-quarter results during a live audio webcast on Thursday, July 24, 2003, at 9:00 a.m. Eastern Time. Second-quarter financial results will be released on July 24, 2003, before the open of the market.
| WHAT: | Albany International Second-Quarter Investors Webcast | |
WHEN: |
Thursday, July 24, 2003, at 9:00 a.m. Eastern Time |
|
WHERE: |
www.albint.com |
|
HOSTS: |
Frank Schmeler, Chairman & Chief Executive Officer Michael Nahl, Senior Vice President & Chief Financial Officer |
|
HOW: |
Log on to www.albint.com and follow the link to the webcast. Minimum requirements to listen: RealPlayer or Media Player software (available free at the site). |
|
REPLAY: |
Yes, at www.albint.com until 5:00 p.m. Eastern Time on Friday, July 25, 2003 |
Albany International is the world's largest producer of paper machine clothing and high-performance doors, with manufacturing plants in 15 countries and sales worldwide. Additional information about the Company's business and products is available at www.albint.com.
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ALBANY INTERNATIONAL ANNOUNCES SECOND-QUARTER EARNINGS EXPECTATIONS