1 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 March 28, 2003 ------------------------------------------ Date of Report (Date of earliest event reported) Oil-Dri Corporation of America ------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 0-8675 36-2048898 ----------------------- ----------------- ---------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification incorporation) No.) 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611-4213 ----------------------------- ------------ (Address of principal (Zip Code) executive offices) (312) 321-1515 ------------------------------------------ Registrant's telephone number 2 ITEM 5. OTHER EVENTS On March 28, 2003, the Registrant issued a press release announcing its implementation of price increases. A copy of the press release is attached as Exhibit 99, and is incorporated herein by this reference. Item 7. Financial Statements and Exhibits (c) Exhibits: The following documents are attached as exhibits to this report: Exhibit Number Description 99 Press Release dated March 28, 2003.
3 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 -------------------------------- Charles P. Brissman Vice President and General Counsel Date: March 31, 2003
News Release
RELEASE:Immediate CONTACT: Ronda J Williams
312-706-3232
OIL-DRI ANNOUNCES PRICE INCREASES
CHICAGO - March 28, 2003 - Effective immediately, Oil-Dri
Corporation of America (NYSE: ODC) is implementing price increases
and continuing fuel surcharges to offset the dramatic increase in
the cost of natural gas, oil and diesel fuel. Oil-Dri's delivered
cost of goods is very sensitive to the price of fuel, which is
used to process the minerals and deliver them to customers.
Oil-Dri is seeking price increases in all areas of its business
Consumer, Agriculture, Sports Turf, Fluids Purification, Animal
Health & Nutrition, and Industrial. Dan Jaffee, President and
CEO, commented, "We are confident that our loyal customer base
will understand the necessity for the increases. We have done a
great job managing the costs that we control and have always kept
our prices competitive in the marketplace. Our pricing, however,
was never intended to be able to withstand a rise in external
inputs like we have recently encountered. In our experience, our
customers do not want us to maintain margins that would allow us
to absorb these increases without adjusting our prices."
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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;
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.