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): July 8, 2008
MOHAWK INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
| Delaware (State or Other Jurisdiction of Incorporation) |
01 13697 (Commission File Number) |
52-1604305 (IRS Employer Identification No.) | ||
| 160 South Industrial Blvd., Calhoun, Georgia | 30701 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code (706) 629-7721
__________________________________________________________________________________
(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):
| ¨ | Written communication pursuant to Rule 425 under 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 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act CFR 240.17R 240.13e-4(c)) |
Item 2.02 Results of Operations and Financial Condition.
The following information, including the Exhibit attached hereto, is being furnished pursuant to this Item 2.02 and shall not be deemed “filed” for purpose of Section 18 of the Securities Exchange 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.
On July 8, 2008, Mohawk Industries, Inc., issued a press release announcing new earnings guidance for its second quarter financial results. A copy of the press release is attached hereto and hereby incorporated by reference as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release dated July 8, 2008.
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.
| Mohawk Industries, Inc. | ||||||
| Date: July 8, 2008 | By: | /s/ THOMAS J. KANUK | ||||
| Thomas J. Kanuk V.P. & Corporate Controller | ||||||
INDEX TO EXHIBITS
Exhibit
99.1. Press release dated July 8, 2008.
Exhibit 99.1
| NEWS RELEASE |
 | |
| For Release: |
Immediately | |
| Contact: |
Frank H. Boykin, Chief Financial Officer | |
MOHAWK INDUSTRIES, INC. ANNOUNCES
NEW EARNINGS GUIDANCE
Calhoun, Georgia, July 8, 2008—Mohawk Industries, Inc. (NYSE:MHK) today announced that it now estimates second quarter 2008 guidance for earnings per diluted share to be in the range of $1.23 to $1.26. We had previously issued second quarter guidance of $1.36 to $1.45 EPS. This revision is attributable to all segments having lower than anticipated sales and margins for the period. The lower earnings expectation for the quarter is primarily due to the continuing decline in the U.S. residential market, slowing European demand and rapidly increasing raw material and energy costs. We are implementing multiple price increases to offset the rising costs and are continuing our emphasis on containing costs across the company. During the quarter we paid down approximately $180 million of debt.
Our second quarter 2008 earnings release is scheduled for July 21, 2008 with the conference call scheduled for 11:00 AM eastern time on July 22, 2008. We will issue guidance for the third quarter of 2008 in that release.
Certain of the statements in the immediately preceding paragraphs, particularly anticipating future performance, business prospects, growth and operating strategies, proposed acquisitions, and similar matters, and those that include the words “could,” “should,” “believes,” “anticipates,” “forecasts,” “estimates,” or similar expressions constitute “forward-looking statements.” For those statements, Mohawk claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. There can be no assurance that the forward-looking statements will be accurate because they are based on many assumptions, which involve risks and uncertainties. The following important factors could cause future results to differ: changes in economic or industry conditions; competition; raw material and energy prices; timing and level of capital expenditures; integration of acquisitions; introduction of new products; rationalization of operations; litigation and other risks identified in Mohawk’s SEC reports and public announcements.
Mohawk is a leading supplier of flooring for both residential and commercial applications. Mohawk offers a complete selection of carpet, ceramic tile, laminate, wood, stone, vinyl and rugs. These products are marketed under the premier brands in the industry, which include Mohawk, Karastan, Ralph Lauren, Lees, Bigelow, Dal-Tile, American Olean, Unilin and Quick Step. Mohawk’s unique merchandising and marketing assist our customers in creating the consumers’ dream. Mohawk provides a premium level of service with its own trucking fleet and over 250 local distribution locations.
There will be a conference call Tuesday, July 22 2008 at 11:00 AM Eastern Time. The telephone number to call is 1-800-603-9255 for US/Canada and 1-706-634-2294 for International/Local. Conference ID # 54459485. A conference call replay will also be available until Monday July 28, 2008, by dialing 1-800-642-1687 for US/local calls and (706) 645-9291 for international calls and entering Conference ID # 54459485. The webcast can be accessed (live or replay) from the Investor Relations section of Mohawk Industries’ website at http://www.mohawkind.com.