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SEC FILE NUMBER | ||
CUSIP NUMBER | ||
For Period Ended: March 31, 2009 | ||||||||
o | Transition Report on Form 10-K | |||||||
o | Transition Report on Form 20-F | |||||||
o | Transition Report on Form 11-K | |||||||
o | Transition Report on Form 10-Q | |||||||
o | Transition Report on Form N-SAR | |||||||
For the Transition Period Ended: | ||||||||
(a) | The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense | ||||
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(b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and | |||
(c) | The accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. | ||||
o |
(1) | Name and telephone number of person to contact in regard to this notification |
Michael J. Foster | 405 | 775-5000 | ||
(Name) | (Area Code) | (Telephone Number) |
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s). o Yes þ No |
(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof ? |
The Company expects to report net sales of $218.1 million for the quarter ended March 31, 2009,
compared to net sales of $285.7 million for the quarter ended March 31, 2008. Gross margin is expected
to be $22.0 million for the quarter ended March 31, 2009, compared to gross margin of $23.2 million for the quarter ended March 31, 2008.
The amounts reported include classification of the operating results associated with the Companys
German subsidiaries as discontinued operations for the current quarter and the corresponding quarter for the prior fiscal year.
On January 12, 2009, the Company, thirteen of its U.S. subsidiaries and Tronox Luxembourg S.ar.l. an international subsidiary (collectively, the Debtors) filed voluntary petitions in the United States Bankruptcy Court for the Southern District of New York (the Bankruptcy Court) seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code). The Debtors continue to operate their businesses and manage their properties as debtors in possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code. The Company expects to report reorganization expenses of $20.8 million for the quarter ended March 31, 2009. On March 13, 2009, the Companys German subsidiaries, Tronox GmbH and its wholly owned subsidiary, Tronox Pigments GmbH, filed applications with the Insolvency Court in Krefeld, Germany, to commence insolvency proceedings. The Company has relinquished control over these subsidiaries to the Insolvency Court and as a result, has deconsolidated the assets and liabilities of the subsidiaries from its financial statements for the quarter ended March 31, 2009. The Company expects to report a net loss from deconsolidation of $1.4 million for the quarter ended March 31, 2009. In conjunction with the loss of control, operating results associated with the German subsidiaries have been classified as discontinued operations. The Company will report a loss on discontinued operations, net of tax, of $10.3 million for the quarter ended March 31, 2009, and income from discontinued operations, net of tax, of $0.4 million, for the corresponding quarter in the prior year. |
Date May 13, 2009
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By | /s/ Michael J. Foster
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