SEC Filing Html Data
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report: May 19, 2003
COMPX INTERNATIONAL INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-13905 57-0981653
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
5430 LBJ Freeway, Suite 1700, Dallas, TX 75240-2697
(Address of principal executive offices) (Zip Code)
(972) 448-1400
(Registrant's telephone number, including area code)
(Former name or address, if changed since last report)
Item 7: Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibit
Item No. Exhibit Index
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99.1 Press release dated May 19, 2003
issued by CompX International Inc.
Item 9: Regulation FD Disclosure
The registrant hereby furnishes the information set forth in the press
release issued on May 19, 2003, a copy of which is attached hereto as Exhibit
99.1 and incorporated herein by reference.
The information, including the exhibit, the registrant furnishes in this
report is not deemed "filed" for purposes of section 18 of the Security Exchange
Act of 1934, as amended, or otherwise subject to the liabilities of that
section. Registration statements or other documents filed with the Securities
and Exchange Commission shall not incorporate this information by reference,
except as otherwise expressly stated in such filing.
SIGNATURE
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.
COMPX INTERNATIONAL INC.
(Registrant)
By: /s/ A. Andrew R. Louis
----------------------------
A. Andrew R. Louis
Secretary
Date: May 20, 2003
INDEX TO EXHIBITS
Exhibit No. Description
- ----------- --------------------------------------------------
99.1 Press release dated May 19, 2003 issued by CompX International Inc.
COMPX INTERNATIONAL INC.
PRESS RELEASE
FOR IMMEDIATE RELEASE: CONTACT:
CompX International Inc. David A. Bowers
Three Lincoln Centre Chief Executive Officer
5430 LBJ Freeway, Suite 1700 Tel.: 864.286.1122
Dallas, Texas 75240-2697
COMPX SUSPENDS REGULAR QUARTERLY DIVIDEND AND ANNOUNCES
RESULTS OF ANNUAL STOCKHOLDERS MEETING
DALLAS, TEXAS . . . May 19, 2003 . . . CompX International Inc. (NYSE: CIX)
announced today that its board of directors suspended CompX's regular quarterly
dividend of twelve and one-half cents ($0.125) per share on its class A and
class B common stock, based on the board's evaluation of CompX's current results
of operations.
"Our board has concluded that suspending the dividend at this time is
financially prudent given the continued challenging economic conditions and our
recent results of operations," said David A. Bowers, CompX's president and chief
executive officer. "We have focused significant effort on cutting costs and
reducing working capital requirements and we will continue these initiatives. We
believe we are well positioned to take advantage of opportunities as they arise
and that the annual cash retention of $7.6 million from the suspension of the
dividend will enhance our ability to continue to further strengthen our balance
sheet and consider investments that will increase long-term stockholder value."
CompX also announced that its stockholders at the annual stockholders
meeting held today elected seven directors for terms of one year. CompX's
directors are: Paul M. Bass, Jr., David A. Bowers, Keith R. Coogan, Edward J.
Hardin, Ann Manix, Glenn R. Simmons and Steven L. Watson.
CompX is a leading manufacturer of ergonomic computer support systems,
precision ball bearing slides and security products.
Statements in this release relating to matters that are not historical
facts are forward-looking statements based upon management's belief and
assumptions using currently available information. Although CompX believes the
expectations reflected in such forward-looking statements are reasonable, it
cannot give any assurances that these expectations will prove to be correct.
Such statements, by their nature, involve substantial risks and uncertainties
that could significantly impact expected results, and actual future results
could differ materially from those described in such forward-looking statements.
While it is not possible to identify all factors, CompX continues to face many
risks and uncertainties. Among the factors that could cause actual future
results to differ materially include, but are not limited to, general economic
and political conditions, demand for office furniture, service industry
employment levels, competitive products and prices, fluctuations in currency
exchange rates, the introduction of trade barriers, potential difficulties in
integrating completed acquisitions and other risks and uncertainties detailed in
CompX's Securities and Exchange Commission filings. Should one or more of these
risks materialize (or the consequences of such a development worsen), or should
the underlying assumptions prove incorrect, actual results could differ
materially from those forecast or expected. CompX disclaims any intention or
obligation to publicly update or revise such statements whether as a result of
new information, future events or otherwise.
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