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) January 12,
2007
LSB
INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-7677
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73-1015226
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||
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(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
||
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16
South Pennsylvania, Oklahoma City, Oklahoma
(Address of principal executive offices) |
73107
(Zip
Code) |
|||
Registrant's
telephone number, including area code
(405) 235-4546
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
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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))
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Section
2 - Financial Information
Item
2.02. Results of Operations and Financial Condition
The
information contained in this Item 2.02 and in the accompanying exhibit shall
not be deemed filed for purposes of Section 18 of the Securities Exchange Act
of
1934, as amended (the “Exchange Act”), or incorporated by reference in any
filing under the Exchange Act or the Securities Act of 1933, as amended (the
“Securities Act”), except as shall be expressly set forth by specific reference
in such filing.
On
January 12, 2007, LSB Industries, Inc. (the “Company”) issued a press release
announcing certain preliminary financial results for the year ended December
31,
2006. A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
This
filing contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements include
our
estimate of the Company’s consolidated sales for the fiscal year ended December
31, 2006, and estimated 2006 sales for our Chemical and Climate Control
Businesses. Forward-looking statements provide current expectations or
forecasts of future events, including results and determinations. These
forward-looking statements are not guarantees of future performance, nor should
they be relied upon as representing management's views as of any subsequent
date. Forward-looking statements involve significant risks and uncertainties
and
actual results may differ materially from those presented, either expressed
or
implied, in this filing. Factors that could cause actual results to differ
materially from those expressed in the forward-looking statements are changes
required in connection with completion of our audit and management’s revisions
in completing its 2006 financial statements.
Item
9.01. Financial Statements and Exhibits
The
information contained in the accompanying Exhibit 99.1 shall not be deemed
filed
for purposes of Section 18 of the Exchange Act or incorporated by reference
in
any filing under the Exchange Act or the Securities Act, except as shall be
expressly set forth by specific reference in such filing.
(d)
Exhibits.
Exhibit Description
99.1 Press
Release issued by LSB Industries, Inc. dated January 12, 2007.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has
duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated:
January
12, 2007
LSB
INDUSTRIES, INC.
By: /s/
Tony M. Shelby
Tony
M.
Shelby,
Senior
Vice President and
Chief
Financial Officer
COMPANY
CONTACT: Investor
Relations Contact:
Tony
M.
Shelby, Chief Financial Officer
Linda
Latman (212) 836-9609
(405)
235-4546
Lena
Cati
(212) 836-9611
The
Equity Group Inc.
FOR
IMMEDIATE RELEASE
LSB
INDUSTRIES, INC. ANNOUNCES DEFENDANT’S
APPEAL
OF SUBSIDIARY’S FAVORABLE JURY VERDICT
OF
$9.8 MILLION
AND
PRELIMINARY
SALES VOLUME FOR CALENDAR YEAR 2006
Oklahoma
City, Oklahoma . . . January 12, 2007 . . . LSB Industries, Inc. (AMEX: LXU)
announced on October 16, 2006 that its subsidiary, El Dorado Chemical Company
(“EDC”), received a unanimous jury verdict awarding $9,796,218.37 in damages to
EDC for the negligence of the defendants, Ingersoll-Rand Co. and DR Holding
Corp., as general partners of Dresser Rand Company. LSB today announced that
the
defendants have filed a notice of appeal with the Circuit Court of Union
County,
Arkansas, and have posted as security for the judgment a supersedeas bond
in the
amount of $10.78 million. EDC has also filed a notice of cross appeal regarding
the failure to award prejudgment interest on the judgment amount.
In
other
news, Jack Golsen, Board Chairman, commented that LSB’s preliminary estimate of
consolidated sales
for
calendar year 2006 is $491 million, up 23.7% from 2005’s $397 million.
Sales
for
2006 by our
Climate
Control
Business are estimated
at $221
million, up 40.8% from $157 million in 2005,
while
sales
by
our
Chemical Business are
estimated at $260 million, an 11.6% improvement from 2005’s $233 million. Total
estimated
2006
sales also include other sales of $10
million,
as
compared to $7 million in 2005.
Golsen
indicated that the final sales numbers might vary from the preliminary numbers
as management completes its year-end review procedures of all cut-offs and
accruals, and pending the completion of the year-end audit. The Company
currently plans to issue its audited 2006 financial results on or about March
15, 2007.
(more)
LSB
Industries, Inc. News Release
January
12, 2007
This
press release contains certain statements which may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of
1995, including, but not limited to, estimated consolidated sales for calendar
year 2006 and estimated sales for 2006 for our Climate Control Business and
Chemical Business. Investors are cautioned that such forward-looking statements
are not guarantees of future performance and involve risks and uncertainties,
and that actual results may differ materially from the forward-looking
statements as a result of various factors, including, but not limited to,
changes required in connection with completion of the audit of our 2006
financial statements or management’s revisions in completing its 2006 financial
statements.
LSB
is a
manufacturing, marketing, and engineering company with activities on a worldwide
basis. LSB’s principal business activities consist of the manufacture and sale
of commercial and residential climate control products, the manufacture and
sale
of chemical products for the mining, agricultural and industrial markets,
the
provision of specialized engineering services and other activities.
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