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): JANUARY 29, 2004
KIRBY CORPORATION
(Exact name of registrant as specified in its charter)
NEVADA 74-1884980
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
55 WAUGH DRIVE, SUITE 1000 77007
HOUSTON, TEXAS (Zip Code)
(Address of principal executive offices)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(713) 435-1000
Item 7. Financial Statements and Exhibits
(c) Exhibits:
99.1 Press release dated January 29, 2004
Item 12. Results of Operations and Financial Condition
On January 29, 2004, Kirby Corporation ("Kirby") issued a press release
announcing earnings for the fourth quarter and year ended December 31, 2003. A
copy of the press release is attached as Exhibit 99.1 to this report.
EBITDA, a non-GAAP financial measure, is used in the press release. Kirby
defines EBITDA as net earnings before interest expense, taxes on income,
depreciation and amortization. Kirby has historically evaluated its operating
performance using numerous measures, one of which is EBITDA. EBITDA is
presented because of its wide acceptance as a financial indicator. EBITDA is
one of the performance measures used in Kirby's incentive bonus plan. EBITDA is
also used by rating agencies in determining Kirby's credit rating and by
analysts publishing research reports on Kirby, as well as by investors and
investment bankers generally in valuing companies. A quantitative
reconciliation of EBITDA to GAAP net earnings for the 2003 and 2002 fourth
quarters and years is included in the press release.
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 thereunto duly authorized.
KIRBY CORPORATION
(Registrant)
By: /s/ NORMAN W. NOLEN
-------------------------------
Norman W. Nolen
Executive Vice President, Treasurer
and Chief Financial Officer
Dated: January 29, 2004
EXHIBIT INDEX
Exhibit 99.1 Press release dated January 29, 2004