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): May 6, 2004
SCOTT'S LIQUID GOLD-INC.
(Exact name of Registrant as specified in its charter)
Colorado 001-13458 84-0920811
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
4880 Havana Street Denver, CO 80239
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (303) 373-4860
Total pages: 6
Exhibit index at: 3
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
The following exhibit accompanies this Report
Exhibit No. Document
99 Press Release dated May 6, 2004 concerning
results of operations.
Item 12. Results of Operations and Financial Condition.
On May 6, 2004, Scott's Liquid Gold-Inc. announced in a press
release its operating results for the first quarter of 2004.
The press release is attached as Exhibit 99.
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.
SCOTT'S LIQUID GOLD-INC.
(Registrant)
/s/ Jeffry B. Johnson
--------------------------
By: Jeffry B. Johnson
Chief Financial Officer
and Treasurer
Date: May 6, 2004
EXHIBIT INDEX
Exhibit
Number Document
99 Press Release dated May 6, 2004 concerning results
of operations.
EXHIBIT 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES FIRST QUARTER OPERATING RESULTS
DENVER, Colorado (May 6, 2004) -- Scott's Liquid Gold-Inc.
(OTC BB: "SLGD"), which develops, manufactures and markets
household and skin care products, today announced its operating
results for the first quarter of 2004.
For the three months ended March 31, 2004, net sales were $5,209,000
compared with net sales of $5,735,700 in the first quarter of the
previous year. The Company reported a net loss of $350,800 or
($0.03) per share, in the most recent quarter, versus a net loss
of $416,300, or ($0.04) per share, in the three months ended
March 31, 2003.
Mark E. Goldstein, Chairman of the Board and Chief Executive
Officer of Scott's Liquid Gold-Inc., commented: "During the
quarter the Company experienced a small increase in Scott's Liquid
Gold for wood sales but experienced a decrease in our skin care
products including the Montagne Jeunesse line of products. The
loss was primarily due to slower sales of Montagne Jeunesse
products in the first quarter of 2004 versus the same period
in 2003."
Scott's Liquid Gold-Inc. develops, manufactures and markets high
quality household and consumer products, including Scott's Liquid
Gold wood cleaners/preservatives, Touch of Scent air fresheners,
Alpha Hydrox skin care products, and Neoteric Diabetic Skin Care
products. Scott's Liquid Gold-Inc. also distributes skin care
sachets of Montagne Jeunesse. The Company is headquartered in
Denver, Colorado, and its common stock trades on the OTC Bulletin
Board under the symbol "SLGD".
Additional information on Scott's Liquid Gold-Inc. and its
products can be accessed on the World Wide Web:
www.scottsliquidgold.com, www.alphahydrox.com,
www.touchofscent.com, and www.neotericdiabetic.com.
This press release may contain "forward-looking" statements
within the meaning of U.S. federal securities laws. These
statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements and the Company's performance
inherently involve risks and uncertainties that could cause
actual results to differ from such forward-looking statements.
Factors that would cause or contribute to such differences
include, but are not limited to, continued acceptance of the
Company's products in the marketplace; acceptance in the
marketplace of the Company's new product lines; competitive
factors; continuation of the Company's distributorship agreement
with Montagne Jeunesse; the need for effective advertising of
the Company's products; limited resources available for such
advertising; new product introductions by others; technological
changes; dependence upon third-party vendors and upon sales to
major customers; changes in the regulation of the Company's
products, including applicable environmental regulations;
adverse developments in pending litigation; the loss of any
executive officer; and other risks discussed in this release
and in the Company's periodic report filings with the
Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the
date of this release.
For further information, please contact:
Jeffry B. Johnson at (303) 373-4860
SCOTT'S LIQUID GOLD-INC.
& Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Quarter ended March 31,
-----------------------------
2004 2003
------------- -------------
(Unaudited) (Unaudited)
Net sales $ 5,209,000 $ 5,735,700
Operating costs and expenses:
Cost of sales 2,750,600 2,858,000
Advertising 463,700 809,000
Selling 1,323,900 1,420,400
General and administrative 986,500 1,024,000
----------- ------------
5,524,700 6,111,400
----------- -----------
Loss from operations (315,700) (375,700)
Interest income 10,700 16,300
Interest expense (45,800) (56,900)
----------- -----------
(350,800) (416,300)
Income tax expense (benefit) - -
----------- -----------
Net loss $ (350,800) $ (416,300)
=========== ===========
Loss per common share:
Basic $ (0.03) $ (0.04)
=========== ===========
Diluted $ (0.03) $ (0.04)
=========== ===========
Weighted average shares outstanding:
Basic 10,356,000 10,153,100
=========== ===========
Diluted 10,356,000 10,153,100
=========== ===========