Prospector
Profile
07.1135
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| Atlantis Plastics, Inc. |
NAICS |
326113 |
| 1870 The Exchange, Suite 200
Atlanta, GA 30339 |
Description |
Plastics Mfg. |
| (800) 497-7659 |
Employees |
1381 |
| http://www.atlantisplastics.com/ |
Revenue |
(mil) |
418.6700 |
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Income |
(mil) |
-4.1500 |
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Assets |
(mil) |
226.8900 |
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Liability |
(mil) |
251.0800 |
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(for the year ended 2006-12-31) |
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Category:
Default
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Event:
Atlantis Plastics, Inc., has notified its lenders that it is in default of certain financial covenants under its secured credit facility. The Company is working with its lenders to obtain a waive of the default and appropriate amendments to thje credit facilities. The Company believes it will be successful in its negotiations; however, in the event the company is unable to negotiate an appropriate amendment and waiver with its lenders, and the debt is accelerated, the company would be required to raise additional funds through the sale of assets, subsidiaries or securities.
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Intellectual Property:
The Company has registered various trademarks with the United States Patent and Trademark Office and certain overseas trademark regulatory agencies. It also has applications pending for the registration of patents and other trademarks. The Company's Plastic Films segment produces certain stretch film products under non-exclusive licenses granted by ExxonMobil Corporation, which are coterminous with the duration of ExxonMobil’s underlying patents. [SEC Filing 10-K 04-06-07]
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Description:
The Company manufactures specialty polyethylene films and molded and extruded plastic components used in a variety of industrial and consumer applications. It has three business segments -- Plastic Films, Injection Molding and Profile Extrusion.
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Officers:
Earl W. Powell (Chair & Interim CEO); V. M. Philbook (Pres. & COO); Paul G. Saari (SVP & CFO); Charles D. Murphy III (Dir.); Chester B. Vanatta (Dir.); Larry D. Horner (Dir.); Cesar Alavarez (Dir.); Jay Shuster (Dir.); Peter Vandenberg, Jr. (Dir.)
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Auditor:
Ernst & Young LLP
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Securities:
Common Stock Symbol ATPL; NasdaqGM;
8,255,823 common shares outstanding as of April 30, 2007.
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