SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): NOVEMBER 25, 2003
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BLUE RHINO CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 0-24287 56-1870472
(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
104 CAMBRIDGE PLAZA DRIVE
WINSTON-SALEM, NORTH CAROLINA 27104
(Address of principal executive offices)
(336) 659-6900
(Registrant's telephone number, including area code)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit 99.1 -- Press Release dated November 25, 2003.
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On November 25, 2003, Blue Rhino Corporation (the "Registrant") issued a press
release announcing results for the fiscal quarter ended October 31, 2003 and
providing guidance with respect to the Registrant's expectations of future
financial performance. A copy of the press release is furnished with this report
as Exhibit 99.1, and is incorporated herein by reference. The press release
includes certain non-GAAP financial measures, as discussed below. A
reconciliation of such non-GAAP financial measures to the comparable GAAP
financial measures is included under the heading "Supplemental Information" in
the financial tables accompanying the press release as part of Exhibit 99.1.
In connection with disclosing earnings and earnings per share on a GAAP basis
for the fiscal first quarter ended October 31, 2003, the Registrant also
discloses earnings and earnings per share for the fiscal first quarter ended
October 31, 2002 on a non-GAAP basis, as adjusted to reflect an assumed income
tax rate of 39%. On a GAAP basis, the Registrant had negligible income tax
expense for the quarter ended October 31, 2002, compared to income tax expense
calculated at an effective income tax rate of 39% for the quarter ended October
31, 2003. The majority of the Registrant's income tax expense recorded in the
quarter ended October 31, 2003 will be deferred due to the Registrant's net
operating loss carryforwards. Therefore, the Registrant believes that providing
these non-GAAP financial measures for the fiscal quarter ending October 31, 2002
will be useful to investors by enabling investors to make more meaningful
comparisons between the Registrant's fiscal periods.
The information in this report is being furnished, not filed, for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, and pursuant to
Item 12 of Form 8-K will not be incorporated by reference into any filing under
the Securities Act of 1933, as amended, unless specifically identified therein
as being incorporated therein by reference.
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SIGNATURE
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Blue Rhino Corporation
Date: November 25, 2003 By: /s/ Billy Prim
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Chairman and Chief Executive Officer
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press Release dated November 25, 2003
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