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) January 1,
2008
LSB
INDUSTRIES, INC.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
1-7677
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73-1015226
|
||
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
||
|
16
South Pennsylvania, Oklahoma City, Oklahoma
(Address of principal executive offices) |
73107
(Zip
Code) |
|||
Registrant's
telephone number, including area code
(405) 235-4546
Not
applicable
(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 (see General Instruction A.2. below):
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Section
2 – Financial Information
Item
2.02 Results
of Operations and Financial Condition
On
January 1, 2008, in an article
published by a local newspaper, Barry Golsen, President of LSB Industries,
Inc.
(the "Company"), was quoted as stating that “We’ve just completed what is
certainly going to be the record year for LSB in all respects.” The article is
attached hereto as Exhibit 99.1 and is incorporated herein by
reference.
The
information contained in this Item 2.02 of this Form 8-K and the Exhibit
attached hereto are being furnished and shall not be deemed "filed" for the
purposes of Section 18 of the Securities Act of 1934 (as amended), or otherwise
subject to the liabilities of such section, 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.
Item
9.01. Financial Statements and Exhibits
The
information contained in the accompanying Exhibit 99.1 shall not be deemed
filed
for purposes of Section 18 of the Exchange Act or incorporated by reference
in
any filing under the Exchange Act or the Securities Act, except as shall be
expressly set forth by specific reference in such filing.
(d)
Exhibits.
Exhibit Description
|
99.1
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The
Oklahoman, “LSB Tops State Stocks in Record Year,” published January 1,
2008.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has
duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated:
January 3, 2008
LSB
INDUSTRIES, INC.
By: /s/
Jim D. Jones
Jim
Jones,
Senior
Vice President,
Corporate
Controller and Treasurer
Daily
Oklahoman
Tue
January 1, 2008
LSB
tops state stocks in record year
By
Don
Mecoy
Business
Writer
Before
2007, investors considered LSB Industries Inc. to be a sleepy, Oklahoma
City-based manufacturing business. The company's shares were lightly traded
and
cheaply priced.
But
last
year, after nearly four decades as a publicly traded company, LSB knocked it
out
of the park — and analysts, traders and the media took note.
LSB
shares rocketed upward 144 percent last year, posting double-digit percentage
gains each quarter before closing Friday at $28.22.
"We've
just completed what is certainly going to be the record year for LSB in all
respects,” LSB President Barry Golsen said Friday.
LSB
makes
climate control equipment and chemicals for industrial and agricultural
customers, and both aspects of its business were major money makers last
year.
"Both
of
those core businesses are market and technology leaders in their products,”
Golsen said.
Meanwhile,
the company's geothermal heat pump business has attracted media attention as
a
green technology that is gaining favor with homeowners and
businesses.
"This
business has grown dramatically over the last few years,” Golsen said of LSB's
geothermal unit. "We've had many local plant expansions, we've hired hundreds
of
new employees and we're now a very major employer in Oklahoma
City.”
Moving
into 2008, Golsen said the company is well-positioned to maintain its strong
competitive position in its chosen markets.
"This
is
a very gratifying position for us to be in because we're heading into our 40th
year as a publicly traded company,” he said.
The
biggest losers
On
the
flip side was AMS Health Sciences. Shares of the Oklahoma City marketer of
diet
aids, nutritional supplements and skin care products started the year at less
than a dollar and finished the year shy of a dime.
AMS
reorganized its multi-level marketing strategy during the year in an effort
to
regain profitability, but was removed from the American Stock Exchange and
last
week filed for bankruptcy protection to stave off a potentially ruinous legal
judgment.
The
stock
closed Friday at 6 cents, off 89 percent for the year.
Other
laggards for the year included Syntroleum Corp., a Tulsa company seeking to
commercialize its proprietary method of producing liquid fuel, like diesel
fuel,
out of things other than oil, such as natural gas, fats and grease.
The
company reorganized in the fourth quarter to move from the development stage
toward the production stage. As part of that move, Syntroleum found a joint
venture partner and planned a production plant.
But
the
company hasn't been profitable and investors seem to be waiting for some
tangible sign of success, said Bob Rader, senior vice president of Capital
West
Securities in Oklahoma City.
"We're
at
the wait-and-see stage now,” Rader said "It's up to the management team to prove
that the concept works.” Syntroleum shares slid every quarter, closing the year
at 88 cents per share.
Traders
hammered Dollar Thrifty Automotive Group after the Tulsa company lowered its
earnings guidance twice in three months late in the year. Dollar Thrifty shares
ended 2007 at $23.68, down 48 percent.
Sooner
boomers
ADDvantage
Technologies, a Broken Arrow reseller and distributor of cable television
equipment, just keeps posting quarterly profits. Investors rewarded the steady
income stream by more than doubling the company's stock price during
2007.
ADDvantage
Technologies shares closed Friday at $6.17, up 121 percent for the
year.
Arena
Resources, a Tulsa-based oil and natural gas exploration and production company,
was the only energy business among the state's top-performing stocks. Arena's
stock chart has been a model of consistency for several years.
Those
steady gains are not surprising for a company whose executives are among the
lowest-paid at any publicly traded company. Those same insiders hold major
stakes in the company and expect to earn their compensation along with Arena's
shareholders.
For
2007,
Arena shares rose 97 percent to close at $41.71.
A
very
good year
It
was a
solid year overall for Oklahoma stocks, with gainers outpacing losers, although
2007 marked the end of several years of top performers coming from the energy
sector.
Many
of
those former leaders simply couldn't duplicate the explosive stock price gains
of past years, although most remain very successful.
As
do
many of the Oklahomans who work for and invest in those companies, said Bob
Rader, senior vice president of Capital West Securities.
"A
lot of
the increase during 2007 in the net worth and buying power of Oklahomans was
due
to owning Oklahoma public stocks,” Rader said. Among the most popular stocks
among Rader’s state customers are the usual suspects: Chesapeake Energy, Devon
Energy,Sonic and OGE Energy.