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): June 2, 2004
Headwaters Incorporated
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(Exact name of registrant as specified in its charter)
Delaware 0-27808 87-0547337
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
10653 South River Front Parkway, Suite 300
South Jordan, UT 84095
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 984-9400
Not Applicable
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(Former name or former address, if changed since last report)
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:
[ ] 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))
The purpose of this Form 8-K is to provide supporting schedules for the
historical financial information for Eldorado Stone, LLC ("Eldorado") and Tapco
Holdings, Inc. ("Tapco"), two companies acquired by Headwaters in fiscal 2004,
which information was filed in our Form 8-K on February 7, 2005. The historical
financial information for Eldorado and Tapco was included in our unaudited pro
forma condensed combined statement of income for the year ended September 30,
2004.
Item 9.01: Financial Statements and Exhibits.
(b) The following unaudited historical financial information for
Eldorado and Tapco is included herein:
Eldorado:
Condensed combining statement of operations for the period
October 1, 2003 through May 31, 2004
Tapco:
Condensed combining statement of operations for the period
October 1, 2003 through September 7, 2004
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Eldorado Stone LLC
Unaudited Condensed Combining Statement of Operations
For the period October 1, 2003 through May 31, 2004
Three months Three months April 1, 2004
ended ended through
(in thousands) December 31, 2003 March 31, 2004 May 31, 2004 Reclassification Combined
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Revenue:
Sales of construction materials $ 28,173 $ 27,763 $ 22,555 $ 78,491
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Total revenue 28,173 27,763 22,555 78,491
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Operating costs and expenses:
Cost of construction materials sold 18,400 17,910 13,714 $ 4,575 54,599
Depreciation and amortization 3,345 3,346 2,368 (4,575) 4,484
Selling, general and administrative 4,233 5,274 4,252 13,759
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Total operating costs and expenses 25,978 26,530 20,334 72,842
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Operating income 2,195 1,233 2,221 5,649
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Other income (expense):
Interest and net investment income
Interest expense (1,301) (1,380) (960) (3,641)
Other, net
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Total other expense, net (1,301) (1,380) (960) (3,641)
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Income before income taxes 894 (147) 1,261 2,008
Income tax provision -
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Net income $ 894 $ (147) $ 1,261 $ 2,008
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Tapco Holdings, Inc.
Unaudited Condensed Combining Statement of Operations
For the period October 1, 2003 through September 7, 2004
One month Nine months August 1, 2004
ended ended through
(in thousands) October 31, 2003 July 31, 2004 September 7, 2004 Reclassification Combined
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Revenue:
Sales of construction materials $ 22,723 $ 171,339 $ 27,401 $ 221,463
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Total revenue 22,723 171,339 27,401 221,463
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Operating costs and expenses:
Cost of construction materials sold 13,724 94,979 16,893 125,596
Depreciation and amortization $ 2,121 2,121
Selling, general and administrative 3,859 28,291 36,011 (2,121) 66,040
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Total operating costs and expenses 17,583 123,270 52,904 193,757
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Operating income 5,140 48,069 (25,503) 27,706
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Other income (expense):
Interest and net investment income 3 3
Interest expense (2,649) (19,499) (10,947) (33,095)
Other, net 24 100 (158) (34)
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Total other expense, net (2,625) (19,396) (11,105) (33,126)
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Income before income taxes 2,515 28,673 (36,608) (5,420)
Income tax provision (1,092) (10,601) 13,702 2,009
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Net income 1,423 18,072 (22,906) (3,411)
Preferred stock dividend (8,483) (8,483)
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Net income (loss) attributable to
common stockholders $ 1,423 $ 18,072 $ (31,389) $ (11,894)
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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.
Date: February 22, 2005 HEADWATERS INCORPORATED
(Registrant)
By: /s/ Kirk A. Benson
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Kirk A. Benson
Chief Executive Officer
(Principal Executive Officer)
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