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<SEC-DOCUMENT>0001026608-07-000129.txt : 20070727
<SEC-HEADER>0001026608-07-000129.hdr.sgml : 20070727
<ACCEPTANCE-DATETIME>20070727095110
ACCESSION NUMBER:		0001026608-07-000129
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070726
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070727
DATE AS OF CHANGE:		20070727

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:		071004925

	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_8k072707.txt
<DESCRIPTION>FORM 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): July 26, 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 July 26, 2007, Acme United Corporation (the "Company") issued a press release
announcing its financial results for the quarter ended June 30, 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 July 26, 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:   July 26, 2007



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

Dated:  July 26, 2007

<PAGE>

EXHIBIT INDEX


     Exhibit Number             Description
     --------------             -----------
     99.1                       Press release dated July 26, 2007.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>acme_8k072707ex991.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 July 26, 2007
                       -----------------------------------


ACME UNITED CORPORATION REPORTS RECORD SECOND QUARTER SALES AND EARNINGS

         FAIRFIELD, CONN. - July 26, 2007 - Acme United Corporation (AMEX:ACU)
today announced that net sales for the quarter ended June 30, 2007 were $19.0
million compared to $17.0 million in the same period in 2006, an increase of
12%. Net sales for the six months ended June 30, 2007 were $31.2 million
compared to $29.2 million in the same period in 2006, an increase of 7%.

         Net income was $1,522,000 or $.41 per diluted share for the second
quarter ended June 30, 2007 compared, to $1,506,000 or $.40 per diluted share
for the comparable period last year, an increase of 1% in net income and 3% in
diluted earnings per share. Net income for the six months ended June 30, 2007
was $2,172,000, or $.59 per diluted share compared to $2,265,000, or $.61 per
diluted share in the comparable period last year, a 4% decrease in net income
and 3% in diluted earnings per share.

         Net sales for the quarter ended June 30, 2007 in the U.S. segment
increased 11% as a result of sales of new products, primarily the iPoint
electric pencil sharpener. Combined sales in Europe and Canada increased by 16%
in U.S. dollars and 12% in local currency for the quarter ended June 30, 2007.

         Gross margins were 42% in the second quarter of 2007 versus 43.7% in
the comparable period last year. For the first six months of 2007 gross margins
were 42.6% compared to 44.4% in the same period in 2006. The gross margin
declines were due to higher product costs as the result of greater sales of
lower margin products, increased raw material costs and the appreciation of the
Chinese currency.

         Walter C. Johnsen, Chairman and CEO, said "We had record sales and
earnings for the quarter. Every business unit had meaningful increases in sales.
Our European business is improving. Net Sales in Europe for the first six months
of 2007 increased 17% in U.S. dollars compared to the same period last year, and
margins improved."

                                      (1)
<PAGE>

         Mr. Johnsen said that sales of the iPoint electric pencil sharpener are
strong, and that new business for the remainder of the year appears solid. He
also said that the Company intends to increase prices where appropriate to
adjust for higher costs.

         The Company's bank debt less cash on June 30, 2007 was $9.6 million
compared to $9.2 million on June 30, 2006. The increase in bank debt during the
twelve month period was primarily due to an increase in borrowings for inventory
and accounts receivables for the back to school season, partially offset by
earnings. Based on anticipated cash flow, the debt level is expected to decline
during the second half of the year.

         ACME UNITED CORPORATION is an innovative supplier of cutting devices,
measuring instruments, and safety products for school, home, office and
industrial use. Its leading brands include Westcott(R), Clauss(R), and
PhysiciansCare (R).

         Forward-looking statements in this report, including without
limitation, statements related to the Company's plans, strategies, objectives,
expectations, intentions and adequacy of resources, are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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
                   CONDENSED CONSOLIDATED STATEMENT OF INCOME
                           SECOND QUARTER REPORT 2007
<CAPTION>

                                                       Quarter Ended         Quarter Ended
                                                       June 30, 2007         June 30, 2006
Amounts in $000's except per share data                 (Unaudited)           (Unaudited)
- ----------------------------------------------------------------------------------------------
<S>                                                      <C>                   <C>

Net sales                                                $ 18,999              $ 16,984
Gross profit                                                7,979                 7,428
Selling, general, and administrative expenses               5,435                 4,995
Interest expense                                              156                   130
Other (income) expense                                         41                   (38)
Pre-tax income                                              2,347                 2,341
Income tax expense                                            825                   835
Net income                                                  1,522                 1,506

     Shares outstanding - Basic                             3,527                 3,489
     Shares outstanding - Diluted                           3,698                 3,731

Earnings per share basic                                     0.43                  0.43
Earnings per share diluted                                   0.41                  0.40
</TABLE>

                                      (3)
<PAGE>
<TABLE>
                             ACME UNITED CORPORATION
                   CONDENSED CONSOLIDATED STATEMENT OF INCOME
                       SECOND QUARTER REPORT 2007 (cont.)
<CAPTION>

                                                     Six Months Ended      Six Months Ended
                                                       June 30, 2007         June 30, 2006
Amounts in $000's except per share data                 (Unaudited)           (Unaudited)
- ----------------------------------------------------------------------------------------------
<S>                                                      <C>                   <C>

Net sales                                                $ 31,240              $ 29,241
Gross profit                                               13,313                12,980
Selling, general, and administrative expenses               9,593                 9,254
Interest expense                                              310                   255
Other (income) expense                                         14                  (114)
Pre-tax income                                              3,396                 3,585
Income tax expense                                          1,224                 1,320
Net income                                                  2,172                 2,265

     Shares outstanding - Basic                             3,527                 3,487
     Shares outstanding - Diluted                           3,698                 3,724

Earnings per share basic                                     0.62                  0.65
Earnings per share diluted                                   0.59                  0.61
</TABLE>

                                      (4)
<PAGE>
<TABLE>
                             ACME UNITED CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEET
                           SECOND QUARTER REPORT 2007
                                   (Unaudited)
<CAPTION>

Amounts in $000's                                      June 30, 2007         June 30, 2006
- ----------------------------------------------------------------------------------------------
<S>                                                      <C>                   <C>

Assets:
- -------
Current assets:
    Cash                                                 $   3,057             $   1,053
    Accounts receivable, net                                18,056                14,960
    Inventories                                             17,079                14,990
    Prepaid and other current assets                         1,287                 1,222
                                                   -------------------------------------------
Total current assets                                        39,479                32,225

    Property and equipment, net                              2,506                 2,566
    Other assets                                             1,016                 1,591
                                                   -------------------------------------------
Total assets                                             $  43,001             $  36,382
                                                   ===========================================

Liabilities and stockholders' equity:
- -------------------------------------
Current liabilities
    Accounts payable                                         4,639                 3,715
    Other current liabilities                                4,309                 4,768
                                                   -------------------------------------------
Total current liabilities                                    8,948                 8,483
Long-term debt                                              12,697                10,256
Other non current liabilities                                  687                 1,084
                                                   -------------------------------------------
                                                            22,332                19,823
Total stockholders' equity                                  20,669                16,559
                                                   -------------------------------------------
Total liabilities and stockholders' equity               $  43,001             $  36,382
                                                   ===========================================
</TABLE>

                                      (5)
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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