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
August 12, 2004
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Date of Report (Date of earliest event reported)
Oil-Dri Corporation of America
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(Exact name of registrant as specified in its charter)
Delaware 0-8675 36-2048898
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
410 North Michigan Avenue
Suite 400
Chicago, Illinois 60611-4213
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(Address of principal (Zip Code)
executive offices)
(312) 321-1515
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Registrant's telephone number
ITEM 5. OTHER EVENTS AND REQUIRED FD DISCLOSURE.
On August 12, 2004, Oil-Dri Corporation of America issued the press
release attached as Exhibit 99 (and incorporated herein by this reference),
announcing the settlement of previously disclosed patent infringement
litigation.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits: The following document is attached as an exhibit to this report:
Exhibit
NUMBER DESCRIPTION
99 Press Release dated August 12, 2004.
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.
OIL-DRI CORPORATION OF AMERICA
By: /S/ CHARLES P. BRISSMAN
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Charles P. Brissman
Vice President and General Counsel
Date: August 13, 2004
RELEASE: Immediate CONTACT: Ronda J Williams
312-706-3232
OIL-DRI ANNOUNCES PATENT LICENSING AGREEMENT FOR SCOOPABLE CAT LITTER
IN SETTLEMENT OF PATENT INFRINGEMENT LITIGATION
CHICAGO -August 12, 2004 - Oil-Dri Corporation of America (NYSE: ODC)
today announced the settlement and dismissal of previously disclosed
patent infringement litigation brought by PSN Illinois LLC against
Oil-Dri. Under the terms of the settlement, the plaintiff has granted
Oil-Dri paid-up licenses of the two patents involved in the litigation as
well as a third patent owned by the plaintiff.
Daniel Jaffee, President and CEO stated, "The claims covered by these
patents, when combined with the claims covered by our previously
owned/licensed patents, give Oil-Dri the right to manufacture and market a
full array of scoopable cat litters. The products covered under these
patents include Cat's Pride(R) scoopable litter, which is the #1 selling
non-sodium bentonite scoopable litter in the United States. This brand is
well positioned to target that segment of the category, which values hard
clumps and easy removal (including flushability). We are pleased with the
terms of the settlement."
The Company expects the one-time earnings effect of the settlement to be
approximately $0.16 per share, which reflects pre-tax settlement costs of
$1,250,000. All of the settlement and defense costs of the litigation will
be reflected in the fourth quarter ended July 31, 2004 and will have no
negative impact on future earnings.
Earnings for fiscal year 2004 and earnings estimates for fiscal year 2005
will be released on September 22, 2004.
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OIL-DRI CORPORATION OF AMERICA IS THE WORLD'S LARGEST MANUFACTURER OF CAT
LITTER AND A LEADING SUPPLIER OF SPECIALTY SORBENT PRODUCTS FOR
INDUSTRIAL, AUTOMOTIVE, AGRICULTURAL, HORTICULTURAL AND SPECIALTY MARKETS.
THIS RELEASE CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS REGARDING THE
COMPANY'S EXPECTED PERFORMANCE FOR FUTURE PERIODS, AND ACTUAL RESULTS FOR
SUCH PERIODS MIGHT MATERIALLY DIFFER. SUCH FORWARD-LOOKING STATEMENTS ARE
SUBJECT TO UNCERTAINTIES WHICH INCLUDE, BUT ARE NOT LIMITED TO,
COMPETITIVE FACTORS IN THE CONSUMER MARKET; THE LEVEL OF SUCCESS IN
IMPLEMENTATION OF PRICE INCREASES AND SURCHARGES; CHANGES IN OVERALL
AGRICULTURAL DEMAND; INCREASING REGULATION OF THE FOOD CHAIN; CHANGES IN
THE MARKET CONDITIONS, THE OVERALL ECONOMY, ENERGY PRICES, AND OTHER
FACTORS DETAILED FROM TIME TO TIME IN THE COMPANY'S ANNUAL REPORT AND
OTHER REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.