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 29, 2003
COMMISSION FILE NUMBER 1-9533
WORLD FUEL SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
| Florida (State or other
jurisdiction of incorporation) |
59-2459427 (I.R.S.
Employer Identification No.) | |
| 700 South Royal Poinciana Blvd., Suite 800 Miami Springs, Florida (Address of principal executive offices) |
33166 (Zip
Code) |
Registrant’s telephone number, including area code: (305) 884-2001
Item 5. Other Events and Regulation FD Disclosure
On January 29, 2003, World Fuel Services Corporation (the “Company” or “World Fuel”) reported that it expects that its
net income (unaudited) for the quarter ended December 31, 2002 will be $4.7 million or $0.43 per diluted share, exceeding analyst expectations for the quarter by $0.01 per diluted share. “We are very pleased with this result which demonstrates
the company’s ability to deliver consistent performance in a difficult operating environment” said Paul H. Stebbins, Chairman and Chief Executive Officer of the Company. “Given our decision to change to a calendar fiscal year, audited
results for our truncated 9-month year will not be announced or discussed in the conference call until February 26th. Accordingly, we thought it was important to update our shareholders on the expected results of the most recent quarter as soon as they became available. The Company continues to make progress in expanding our aviation
franchise and we are beginning to see signs of improvement in the marine segment.”
Item 7. Financial Statements and Exhibits
(c) Exhibits
| Exhibit No. |
Description | |
| 99.1 |
Press Release dated January 29, 2003 |
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, thereunto duly authorized.
| Date: January 29, 2003 |
World Fuel Services Corporation | |||||||
| /s/ Paul H. Stebbins | ||||||||
| Paul H. Stebbins Chairman and Chief Executive Officer | ||||||||
| /s/ Francis X. Shea | ||||||||
| Francis X. Shea Executive Vice President and Chief Financial
Officer (Principal Financial and Accounting Officer) | ||||||||
Exhibit 99.1
World Fuel Services Corporation
NEWS RELEASE for January
29th, 2003 at 8:00 AM EDT
| Contact: |
Allen & Caron Inc Michael Mason (Investors) michaelm@allencaron.com (212) 691-8087 Len Hall
(Media) len@allencaron.com (949) 474-4300 |
World Fuel Services Corporation Francis X Shea, CFO & EVP fshea@wfscorp.com (305) 884-2001 |
WORLD FUEL SERVICES THIRD QUARTER RESULTS WILL EXCEED EXPECTATIONS
MIAMI SPRINGS, FL (January 29, 2003) . . . World Fuel Services Corporation (NYSE:INT), a global leader in the marketing and financing of
aviation and marine fuel products and related services, today reported that it expects that its net income (unaudited) for the quarter ended December 31, 2002 will be $4.7 million or $0.43 per diluted share, exceeding analyst expectations for the
quarter by $0.01 per diluted share. “We are very pleased with this result which demonstrates the company’s ability to deliver consistent performance in a difficult operating environment” said Paul H. Stebbins, Chairman and Chief
Executive Officer of World Fuel Services Corporation. “Given our decision to change to a calendar fiscal year, audited results for our truncated 9-month year will not be announced or discussed in the conference call until February
26th. Accordingly, we thought it was important to update our shareholders on the expected results of the
most recent quarter as soon as they became available. The company continues to make progress in expanding our aviation franchise and we are beginning to see signs of improvement in the marine segment.”
About World Fuel Services Corporation
Headquartered in
Miami Springs, FL, World Fuel Services Corporation is a global leader in the downstream marketing and financing of aviation and marine fuel products and related services. As the marketer of choice in the aviation and shipping industries, World Fuel
Services provides fuel and services at more than 1,100 airports and seaports worldwide. With 30 offices strategically located throughout the world, World Fuel Services offers its customers a value-added outsource service for the supply, quality
control, logistical support and price risk management of marine and aviation fuel.
The company’s
global team of market makers provides deep domain expertise in all aspects of marine and aviation fuel management. World Fuel Services’ aviation customers include commercial, passenger and cargo operators as well as corporate clientele. The
company’s marine customers include premier blue-chip companies from all segments of the market. For more information, call (305) 884-2001 or visit www.worldfuel.com.
With the exception of historical information in this news release, this document includes forward-looking statements that involve risks and uncertainties, including, but
not limited to, quarterly fluctuations in results, the management of growth, fluctuations in world oil prices or foreign currency, major changes in political, economic, regulatory, or environmental conditions, the loss of key customers, suppliers or
key members of senior management, uninsured losses, competition, credit risk associated with accounts and notes receivable, and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings. Actual results
may differ materially from any forward-looking statements set forth herein.
# # # #