American Metal & Technology, Inc. - Current report filing (8-K)
March 25 2008 - 2:56PM
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) March 25, 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, 28
h
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)
223-2339
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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
7.01 Regulation FD Disclosure.
American
Metal & Technology, Inc. (the “Company”) has announced in a press release
issued on March 25, 2008 its financial results for the fourth quarter and full
year ended December 31, 2007, as well as estimates for 2008. The
press release highlighted the Company’s growth during the full year
and quarter ended December 31, 2007, in which the Company recorded net sales in
the fourth quarter ended December 31, 2007 of $3.4 million, an increase of 58.4%
compared to the same period in 2006, and net sales of $10.7 million
for the full year ended December 31, 2007, an increase of 34.1%
compared to the same period in 2006.
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. This follows
the first phase expansion plan, which commenced in 2007, in which the Company
purchased 16 new high-precision lathe machines, 10 of which were delivered and
became operational during the fourth quarter of 2007. The remaining six machines
are expected to be delivered and become operational in the first quarter of
2008.
The
Company forecasts full-year 2008 net income of $2.9 million to $3.1 and earnings
per share of $0.27 to $0.29.
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
Exhibit
No.
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Description
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99.1
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Press
Release dated March 25, 2008
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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:
March 25, 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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