SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 29, 2003
INNOTRAC CORPORATION
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(Exact name of Registrant as Specified in its Charter)
Georgia 000-23741 58-1592285
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(State or other Jurisdiction of (Commission File (IRS Employer
Incorporation or Organization) Number Identification No.)
6655 Sugarloaf Parkway
Duluth, Georgia 30097
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(Address of principal executive offices) (Zip code)
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Registrant's telephone number, including area code: (678) 584-4000
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA INFORMATION AND EXHIBITS
(a) Financial Statements of Businesses Acquired:
None.
(b) Pro Forma Financial Information:
None.
(c) Exhibits:
EXHIBIT NO. DESCRIPTION
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99.1 Innotrac Corporation press release dated April 29, 2003,
announcing Innotrac's financial results for the first
quarter of 2003 (furnished pursuant to Items 9 and 12 of
Form 8-K).
ITEM 9. REGULATION FD DISCLOSURE
Pursuant to Exchange Act Release 47583, Innotrac Corporation
("Innotrac") is furnishing the following information and Exhibit pursuant to
Items 9 and 12 of Form 8-K.
On April 29, 2003, Innotrac issued a press release to announce its
financial results for the first quarter of 2003. A copy of the press release is
attached as Exhibit 99.1. The press release presents Innotrac's earnings before
interest, taxes, depreciation and amortization ("EBITDA") for the first quarter
of 2003, along with the most directly comparable financial measure calculated
and presented in accordance with GAAP, which Innotrac determined to be operating
loss ("EBIT"), and a reconciliation of EBITDA to EBIT. The only difference is
depreciation and amortization charges.
Management believes that presentation of non-GAAP financial measures
such as EBITDA is useful because it allows investors and management to evaluate
and compare Innotrac's core cash-based operating results from ongoing operations
from period to period in a more meaningful and consistent manner than relying
exclusively on GAAP financial measures. Non-GAAP financial measures however
should not be considered in isolation or as an alternative to financial measures
calculated and presented in accordance with GAAP. Because EBITDA is not a
measurement determined in accordance with GAAP and is thus susceptible to
varying calculations, EBITDA as used in the press release may not be comparable
to other similarly titled measures used by other companies.
As used herein, "GAAP" refers to accounting principles generally
accepted in the United States.
The information in this Report, including the Exhibit attached hereto,
is furnished solely pursuant to Items 9 and 12 of this Form 8-K. Consequently,
it is not deemed "filed" for the purposes of Section 18 of the Securities
Exchange Act of 1934, or otherwise subject to the liabilities of that section.
It may only be incorporated by reference in another filing under the Exchange
Act or Securities Act of 1933 if such subsequent filing specifically references
this Form 8-K.
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.
INNOTRAC CORPORATION
By: /s/ David L. Gamsey
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David L. Gamsey
Senior Vice President,
Chief Financial Officer and
Date: April 29, 2003 Secretary