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<SEC-DOCUMENT>0001026608-07-000061.txt : 20070420
<SEC-HEADER>0001026608-07-000061.hdr.sgml : 20070420
<ACCEPTANCE-DATETIME>20070420102305
ACCESSION NUMBER:		0001026608-07-000061
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070420
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070420
DATE AS OF CHANGE:		20070420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACME UNITED CORP
		CENTRAL INDEX KEY:			0000002098
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060236700
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07698
		FILM NUMBER:		07777571

	BUSINESS ADDRESS:	
		STREET 1:		60 ROUND HILL ROAD
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06824
		BUSINESS PHONE:		203-254-6060

	MAIL ADDRESS:	
		STREET 1:		60 ROUND HILL ROAD
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06824

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACME SHEAR CO
		DATE OF NAME CHANGE:	19710713
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>acme_8k042007.txt
<DESCRIPTION>8-K
<TEXT>
================================================================================


                                  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): April 20, 2007


                             ACME UNITED CORPORATION
             (Exact name of registrant as specified in its charter)
                               ------------------

          Connecticut                    001-07698              06-0236700
(State or other jurisdiction of         (Commission          (I.R.S. Employer
 incorporation or organization)         file number)        Identification No.)


60 Round Hill Road, Fairfield, Connecticut                        06824
 (Address of principal executive offices)                       (Zip Code)


       Registrant's telephone number, including area code: (203) 254-6060

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[_]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[_]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

[_]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[_]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On April 20, 2007, Acme United Corporation (the "Company") issued a press
release announcing its financial results for the quarter ended March 31, 2007. A
copy of the press release is attached as Exhibit 99.1 to this current report.


ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(c)  Exhibits

Exhibit Number             Description
- --------------             -----------
99.1                       Press release dated April 20, 2007.



                                   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.


ACME UNITED CORPORATION

By          /s/ WALTER C. JOHNSEN
         ------------------------------
                Walter C. Johnsen
                 President and
             Chief Executive Officer

Dated:   April 20, 2007



By          /s/ PAUL G. DRISCOLL
         ------------------------------
                Paul G. Driscoll
               Vice President and
              Chief Financial Officer

Dated:  April 20, 2007

<PAGE>

EXHIBIT INDEX


     Exhibit Number             Description
     --------------             -----------
     99.1                       Press release dated April 20, 2007.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>acme_8k042007ex991.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
EXHIBIT 99.1

ACME UNITED CORPORATION            NEWS RELEASE
- --------------------------------------------------------------------------------
                            CONTACT: Paul G. Driscoll
                             Acme United Corporation
                   60 Round Hill Road    Fairfield, CT  06824
                  Phone: (203) 254-6060    FAX: (203) 254-6521
- --------------------------------------------------------------------------------


                      FOR IMMEDIATE RELEASE April 20, 2007
                      ------------------------------------


ACME UNITED CORPORATION REPORTS FIRST QUARTER RESULTS

         FAIRFIELD, CONN. - April 20, 2007 - Acme United Corporation (AMEX:ACU)
today announced that net sales for the quarter ended March 31, 2007 were $12.2
million, compared to $12.3 million in the comparable period of 2006.

         Net income was $650,000 or $.17 per diluted share for the first quarter
ended March 31, 2007 compared to $759,000 or $.20 per diluted share for the
comparable period last year, a decrease of 15%.

         Net sales for the first quarter in the U.S. segment decreased 4%
compared to the same period in 2006. Sales in the first quarter of 2006 included
over $1 million of initial new product shipments to three major retail chains.
Since the products are now regular items for these retailers, the first quarter
of 2007's sales represented only restocking shipments. During the first quarter
of 2007, sales in Europe and Canada increased by 11% in constant currency, as
compared to the comparable period in 2006.

         Gross margins were 44% in the first quarter of 2007 versus 45% in the
first quarter of 2006. The margin in 2007 declined due to a higher proportion of
European sales at lower margins compared to margins in the U.S. segment.

         Walter C. Johnsen, President and CEO said, "While revenues in the first
quarter were approximately even with the same period last year, we look forward
to stronger sales in the coming quarters. Our award winning iPoint pencil
sharpeners will be shipped to many of our major customers for back to school
sales. We expect to begin new scissor and paper trimmer business in the second
and third quarters and start a rollout of new sewing items in the fourth
quarter. We believe these growth initiatives will provide the foundation for a
strong year in 2007 and forward momentum in 2008."

                                      (1)
<PAGE>

         The Company's bank debt less cash on March 31, 2007 was $7.1 million
compared to $6.8 million on March 31, 2006. The increase in bank debt was
primarily due to the purchase of additional inventory amounting to $1.8 million,
a $1.1 million payment for the demolition of a former manufacturing site and
repurchase of Acme stock of $0.4 million offset by earnings.

         On March 28, 2007 the Company announced a 4 cents per share quarterly
dividend on its outstanding common stock for shareholders of record on April 6,
2007, and is payable on April 27, 2007. This represents an increase of 33
percent or 1 cent per share over each of the previous seven quarterly dividends.


         ACME UNITED CORPORATION is a leading worldwide supplier of innovative
cutting, measuring and safety products to the school, home, office and
industrial markets.


         Forward-looking statements in this earnings release, included without
limitation, statements related to the Company's plans, strategies, objectives,
expectations, intentions and adequacy of resources. Investors are cautioned that
such forward-looking statements involve risks and uncertainties including
without limitation the following: (i) the Company's plans, strategies,
objectives, expectations and intentions are subject to change at any time at the
discretion of the Company; (ii) the Company's plans and results of operations
will be affected by the Company's ability to manage its growth, and (iii) other
risks and uncertainties indicated from time to time in the Company's filings
with the Securities and Exchange Commission.

                                     # # #

                                      (2)
<PAGE>
<TABLE>
                             ACME UNITED CORPORATION
                        CONSOLIDATED STATEMENT OF INCOME
                            FIRST QUARTER REPORT 2007
<CAPTION>
                                                       Quarter Ended         Quarter Ended
                                                      March 31, 2007        March 31, 2006
Amounts in $000's except per share data                 (Unaudited)           (Unaudited)
- ----------------------------------------------------------------------------------------------
<S>                                                      <C>                   <C>
Net sales                                                $ 12,241              $ 12,257
Gross profit                                                5,334                 5,552
Selling, general, and administrative expenses               4,158                 4,259
Interest expense                                              154                   125
Other (income) expense                                        (27)                  (76)
Pre-Tax income                                              1,049                 1,244
Income tax expense                                            399                   485
Net income                                                    650                   759

     Shares outstanding - Basic                             3,525                 3,484
     Shares outstanding - Diluted                           3,729                 3,735

Earnings per share - basic                                   0.18                  0.22
Earnings per share - diluted                                 0.17                  0.20
</TABLE>

                                      (3)
<PAGE>
<TABLE>
                             ACME UNITED CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEET
                            FIRST QUARTER REPORT 2007
                                   (Unaudited)
<CAPTION>

Amounts in $000's
- -----------------
                                                      March 31, 2007        March 31, 2006
                                                  --------------------------------------------
<S>                                                     <C>                   <C>
Assets
- ------
Current assets:
     Cash                                               $   3,386             $     990
     Accounts receivable, net                               9,656                 9,567
     Inventories                                           16,223                14,374
     Prepaid and other current assets                       1,755                 1,307
                                                  --------------------------------------------
Total current assets                                       31,020                26,238

     Property and equipment, net                            2,437                 2,632
     Other assets                                             983                 1,572
                                                  --------------------------------------------
Total assets                                            $  34,440             $  30,442
                                                  ============================================

Liabilities and stockholders' equity
- ------------------------------------
Current liabilities
     Accounts payable                                   $   2,589             $   2,582
     Other current liabilities                              2,164                 4,277
                                                  --------------------------------------------
Total current liabilities                                   4,753                 6,859

     Long-term debt                                        10,463                 7,795
     Other non-current liabilities                            663                 1,037
                                                  --------------------------------------------
Total liabilities                                          15,879                15,691
Total stockholders' equity                                 18,561                14,751
                                                  --------------------------------------------
Total liabilities and stockholders' equity              $  34,440             $  30,442
                                                  ============================================
</TABLE>

                                      (4)
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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