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): February 13, 2003
Hercules Incorporated
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(Exact name of registrant as specified in its charter)
Delaware 001-00496 51-0023450
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
Hercules Plaza
1313 North Market Street
Wilmington, Delaware 19894-0001
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(Address of principal executive offices) (Zip Code)
(302) 594-5000
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(Registrant's telephone number, including area code)
Item 12. Disclosure of Results of Operations and Financial Condition.
On February 13, 2003, Hercules Incorporated ("Hercules") reported its fourth
quarter and full-year 2002 results. A press release detailing the fourth quarter
and full-year 2002 financial performance, dated February 13, 2003, was issued by
Hercules and is furnished as an exhibit hereto and incorporated by reference
herein.
The press release includes presentations of earnings before interest and taxes
("EBIT") and earnings before interest, taxes, depreciation and amortization
("EBITDA"), both of which are non-GAAP financial measures. EBIT and EBITDA are
measures commonly used by the capital markets to value enterprises. Interest,
taxes, depreciation and amortization can vary significantly between companies
due in part to differences in accounting policies, tax strategies, levels of
indebtedness, and interest rates. Excluding these items provides insight into
the underlying results of operations and facilitates comparisons between
Hercules and other companies. In addition, EBITDA is considered a reasonable
approximation of gross cash flow and is one of the measures used for determining
debt covenant compliance. Management believes EBIT and EBITDA information is
useful to investors for these reasons.
(c) Exhibits.
99.1 Press Release of Hercules Incorporated dated
February 13, 2003.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
HERCULES INCORPORATED
February 20, 2003 By: /s/ Israel J. Floyd
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Israel J. Floyd
Corporate Secretary
and General Counsel
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EXHIBIT INDEX
Number Exhibit
99.1 Press Release of Hercules Incorporated dated
February 13, 2003.