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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): AUGUST 19, 2003
BMC INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
MINNESOTA 1-8467 41-0169210
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(State of Incorporation) (Commission file number) (I.R.S. Employer
Identification No.)
ONE MERIDIAN CROSSINGS, SUITE 850
MINNEAPOLIS, MINNESOTA 55423
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(Address of principal executive offices) (Zip Code)
(952) 851-6000
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(Registrant's telephone number)
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ITEMS 1-6. Not Applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) - (b) Not Applicable.
(c) Exhibits:
EXHIBIT DESCRIPTION
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99.1 Press Release issued by BMC Industries, Inc., dated
August 19, 2003
ITEM 8-11. Not Applicable.
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On August 19, 2003, BMC Industries, Inc. (the "Company") issued a press
release announcing second quarter 2003 financial results. The press release is
attached as Exhibit 99.1 to this report on Form 8-K.
The information in this Form 8-K and the Exhibit attached hereto are
provided under Item 12 of Form 8-K and shall not be deemed "filed" for purposes
of Section 18 of the Securities Act of 1934 (as amended), nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933 (as
amended), except as shall be expressly set forth by specific reference in such
filing.
The Company intends that certain matters disclosed in this Current
Report (including the exhibit hereto) are "Forward-Looking Statements" intended
to qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. All statements, other than statements
of historical fact, are Forward-Looking Statements. Forward-Looking Statements
may be identified by the use of words such as "anticipates", "estimates",
"expects", "forecasts", "projects", "intends", "plans", "predicts", and similar
expressions. Forward-Looking Statements are subject to a number of risks and
uncertainties that could cause, and in certain instances have caused, actual
results or outcomes to differ materially from those projected, including, among
others, our ability to obtain additional waivers or other relief from our
lenders beyond the September 15, 2003 date granted to the Company; ability to
negotiate financing arrangements or other solutions in replacement of our
existing credit facility; our ability to generate sufficient cash flow to meet
obligations during the waiver period and beyond and availability of borrowing
capacity to the Company going forward; the ability to meet future financial
covenants under our credit agreement; ability to maintain credit terms
with vendors; ability to manage working capital and align costs with market
conditions; ability to achieve higher yields at Vision-Ease; ability to reduce
inventories while maintaining consistently high customer service levels and
product fill rates; ability to increase sales of products at both Vision-Ease
and Buckbee-Mears, in particular our ability to replace lost NAFTA and European
aperture mask sales with sales in Asia and other areas of the world; further
aperture mask price declines; slowdown in growth of, or price reductions in,
high-end optical lens products; fluctuations in currency exchange rates; rising
raw material costs; ability to execute the restructuring of our European
operations; ability to develop new products need to grow within our markets; and
the effect of ongoing economic uncertainty on the Company's operations. These
and other risks and uncertainties are discussed in further detail in BMC's
Annual Report on Form 10-K for the year ended December 31, 2002 and other
documents filed with the Securities and Exchange Commission.
The Forward-Looking Statements included in this Current Report
(including the exhibit hereto) are made only as of August 19, 2003, and the
Company undertakes no obligation to update publicly such Forward-Looking
Statements to reflect subsequent events or circumstances that may arise after
the date of this release.
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 thereunto duly authorized.
BMC INDUSTRIES, INC.
Dated: August 19, 2003 By: /s/ Curtis E. Petersen
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Curtis E. Petersen
Its: Senior Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit Description Method of Filing
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99.1 Press Release, dated August 19, 2003, Electronic
Announcing Second Quarter 2003 Results. Transmission