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): March 31, 2005
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
Check the appropriate box below if the Form 8-K is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Total pages: 6
Exhibit index at: 3
Item 2.02 Results of Operations and Financial Condition.
On May 5, 2005, Scott's Liquid Gold-Inc. announced in a press
release its operating results for first quarter of 2005. The
press release is attached as Exhibit 99.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
The following exhibit accompanies this Report:
Exhibit No. Document
99 Press Release dated May 5, 2005
concerning results of operations.
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)
Date: May 5, 2005 /s/ Jeffry B. Johnson
By: Jeffry B. Johnson
Chief Financial Officer and
Treasurer
EXHIBIT INDEX
Exhibit
Number Document
99 Press Release dated May 5, 2005 concerning results of
operations.
Exhibit 99
For Immediate Release
SCOTT'S LIQUID GOLD-INC.
ANNOUNCES FIRST QUARTER OPERATING RESULTS
DENVER, Colorado (May 5, 2005) -- 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 2005.
For the three months ended March 31, 2005, net sales were $5,522,500
compared with net sales of $5,209,000 in the first quarter of the
previous year. The Company reported a net loss of $394,900 or
($0.04) per share, in the most recent quarter, versus a net loss of
350,800 or ($0.03) per share, in the three months ended March 31,
2004.
Mark E. Goldstein, Chairman of the Board and Chief Executive
Officer of Scott's Liquid Gold-Inc., commented "During the first
quarter of 2005, we experienced an increase in sales of our
Montagne Jeunesse line of skin care products while experiencing
a decrease in sales of our other skin care products and our
line of household chemical products. The loss for 2005 was
primarily due to a lower profit margin on the increased sales
of our Montagne Jeunesse products and to the household chemical
products sales decrease. Mr. Goldstein went on to comment
"We are in the early stages of introducing four new items
in our Alpha Hydrox line of cosmetic products. We are also
introducing a new wood care product under the Scott's
Liquid Gold product line. "
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)
Three Months Ended
March 31,
2005 2004
----------- -----------
(Unaudited) (Unaudited)
Net sales $ 5,522,500 $ 5,209,000
----------- -----------
Operating costs and expenses:
Cost Of Sales 3,107,500 2,750,600
Advertising 276,500 463,700
Selling 1,475,300 1,323,900
General and administrative 1,022,800 986,500
----------- -----------
5,882,100 5,524,700
----------- -----------
Loss from operations (359,600) (315,700)
Interest income 12,700 10,700
Interest expense (48,000) (45,800)
----------- -----------
(394,900) (350,800)
Income tax expense (benefit) - -
----------- -----------
Net loss $ (394,900) $ (350,800)
=========== ===========
Net loss per common share (Note 2):
Basic $ (0.04) $ (0.03)
=========== ===========
Diluted $ (0.04) $ (0.03)
=========== ===========
Weighted average shares outstanding:
Basic 10,471,000 10,356,000
=========== ===========
Diluted 10,471,000 10,356,000
=========== ===========