Attached files
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EX-32.1 - MILLER INDUSTRIES INC | v208524_ex32-1.htm |
EX-31.2 - MILLER INDUSTRIES INC | v208524_ex31-2.htm |
EX-31.1 - MILLER INDUSTRIES INC | v208524_ex31-1.htm |
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
10-Q
þ QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
For the
quarterly period ended October 31, 2010 or
¨ TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
For the
transition period from __________ to ___________
Commission
File No. 1-5926
MILLER
INDUSTRIES, INC.
|
(Exact
Name of Registrant as Specified in its
Charter)
|
Florida
|
59-0996356
|
|
(State
or Other Jurisdiction of
Incorporation
or Organization)
|
(I.R.S.
Employer
Identification
No.)
|
16295
N.W. 13th
Avenue, Miami, Florida 33169
|
(Address
of Principal Executive
Offices
|
(305)
621-0501
|
(Registrant's
telephone number, including area
code
|
Not
Applicable
|
(Former
Name, Former Address and Former Fiscal
Year,
if Changed Since Last Report)
|
Indicate by check mark whether the
registrant: (1) has filed all reports required to be filed by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
of such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing required for the past 90
days.
Yes ¨ No
þ
Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, a non-accelerated
filer. or a “smaller reporting issuer.” See the definitions of “large
accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule
12b-2 of the Exchange Act.
Large
accelerated filer ¨
Accelerated filer ¨
Non-accelerated filer ¨
Smaller reporting company þ
Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).
Yes ¨ No
þ
The
number of shares outstanding of each of the issuer's classes of common stock,
par value $.05 per share, as of October 31, 2010 is 2,982,662
shares.
MILLER INDUSTRIES,
INC.
FORM
10-Q
October
31, 2010
INDEX
Page No.
|
||
PART
I:
|
FINANCIAL
INFORMATION
|
|
Item
1.
|
Financial
Statements
|
|
Balance
Sheets dated as of October 2010 and April 30, 2010
|
1
|
|
Statement
of Operations – Three Months Ended October 31, 2010 and
2009
|
3
|
|
Statement
of Operations –Six Months Ended October 31, 2010 and
2009
|
4
|
|
Statement
of Cash Flows - Six Months Ended October 31, 2010 and
2009
|
5
|
|
Notes
to Financial Statements
|
6
|
|
Item
2.
|
Management's
Discussion and Analysis of Financial Condition and Results of
Operations
|
9
|
Item
3.
|
Quantitative
and Qualitative Disclosures about Market Risk
|
12
|
Item
4.
|
Controls
and Procedures
|
12
|
PART
II: OTHER INFORMATION
|
||
Items
1 to 6
|
13
|
|
Signatures
|
13
|
i
MILLER INDUSTRIES,
INC.
BALANCE
SHEET
OCTOBER 31,
2010
(UNAUDITED)
ASSETS
|
||||||||
Investment
Property:
|
||||||||
Land
|
$ | 161,443 | ||||||
Building
and Improvements
|
1,049,908 | |||||||
Machinery
and Equipment
|
11,106 | |||||||
Furniture
and Fixtures
|
10,251 | |||||||
Total
Cost
|
$ | 1,232,708 | ||||||
Less:
Accumulated Depreciation
|
884,579 | |||||||
Net
Book Value
|
$ | 348,129 | ||||||
Other Assets:
|
||||||||
Cash
and Cash Equivalents
|
$ | 1,572,629 | ||||||
Accounts
Receivable (less Allowance for Doubtful Accounts of $
6,242)
|
- | |||||||
Deferred
Tax Asset
|
93,300 | |||||||
Prepaid
Expenses and Other Assets
|
29,273 | |||||||
Deferred
Lease Incentive (Net of Accumulated Amortization - $
33,817)
|
17,970 | |||||||
Loan
Costs, Less Accumulated Amortization of $ 1,023
|
9,712 | |||||||
Total
Other Assets
|
1,722,884 | |||||||
TOTAL
ASSETS
|
$ | 2,071,013 | ||||||
LIABILITIES
AND SHAREHOLDERS’ EQUITY
|
||||||||
Liabilities:
|
||||||||
Mortgages
and Notes Payable
|
$ | 1,316,109 | ||||||
Accounts
Payable and Accrued Expenses
|
441,604 | |||||||
Tenant
Security Deposits
|
49,450 | |||||||
Total
Liabilities
|
$ | 1,807,163 | ||||||
Shareholders’
Equity:
|
||||||||
Common
Stock, $.05 par, 5,000,000 shares authorized, 2,982,662 shares issued and
outstanding
|
$ | 149,133 | ||||||
Paid-in
Capital
|
1,191,929 | |||||||
Deficit
|
(1,077,212 | ) | ||||||
Total
Shareholders’ Equity
|
263,850 | |||||||
TOTAL
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
$ | 2,071,013 |
See
Accompanying Notes to Financial Statements.
-1-
MILLER INDUSTRIES,
INC.
BALANCE
SHEET
APRIL 30,
2010
ASSETS
|
||||
Investment
Property:
|
||||
Land
|
$ | 161,443 | ||
Building
and Improvements
|
1,049,908 | |||
Machinery
and Equipment
|
11,106 | |||
Furniture
and Fixtures
|
10,251 | |||
Total
Cost
|
1,232,708 | |||
Less
Accumulated Depreciation
|
876,541 | |||
Net
Book Value
|
$ | 356,167 | ||
Other
Assets:
|
||||
Cash
and Cash Equivalents
|
1,512,525 | |||
Accounts
Receivable (Less Allowance for Doubtful Accounts of $
6,942)
|
— | |||
Prepaid
Expenses and Other Assets
|
14,854 | |||
Deferred
Lease Incentive (Net of Accumulated Amortization of
$31,020)
|
20,768 | |||
Loan
Costs, Less Accumulated Amortization of $447
|
10,288 | |||
Deferred
Tax Assets
|
114,500 | |||
Total
Other Assets
|
1,672,935 | |||
TOTAL
ASSETS
|
$ | 2,029,102 | ||
LIABILITIES AND SHAREHOLDERS’ EQUITY
(DEFICIENCY)
|
||||
Liabilities:
|
||||
Mortgage
and Notes Payable
|
$ | 1,338,399 | ||
Accounts
Payable and Accrued Expenses
|
403,5450 | |||
Tenant’s
Deposits and Advance Rent
|
70,423 | |||
Total
Liabilities
|
$ | 1,812,367 | ||
Shareholders’
Deficiency:
|
||||
Common
Stock - $.05 Par, 5,000,000 shares authorized: 2,982,662
shares issued and outstanding
|
$ | 149,133 | ||
Paid-In
Capital
|
1,191,929 | |||
Deficit
|
(1,124,327 | ) | ||
Total
Shareholders’ Equity (Deficiency)
|
216,735 | |||
TOTAL
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY)
|
$ | 2,029,102 |
See
Accompanying Notes to Financial Statements.
-2-
MILLER INDUSTRIES,
INC.
STATEMENT OF
OPERATIONS
FOR THE THREE MONTHS ENDED
OCTOBER 31, 2010 AND 2009
(UNAUDITED)
Three Months Ended
|
||||||||
10/31/10
|
10/31/09
|
|||||||
Revenues:
|
||||||||
Rental
Income
|
$ | 96,546 | $ | 93,649 | ||||
Hardware
Sales (Net)
|
- | 97 | ||||||
Other
Income
|
1,588 | 1,740 | ||||||
Total
Revenue
|
$ | 98,134 | $ | 95,486 | ||||
Expenses:
|
||||||||
Rental
Expense (Except Interest)
|
$ | 37,435 | $ | 30,055 | ||||
Administrative
|
10,855 | 12,499 | ||||||
Interest
|
9,300 | 13,725 | ||||||
Total
Expenses
|
$ | 57,590 | $ | 56,279 | ||||
Income
Before Tax Provision
|
$ | 40,544 | $ | 39,207 | ||||
Provision for Income
Tax:
|
||||||||
Federal
Income Tax
|
$ | 11,500 | $ | 10,000 | ||||
State
Income Tax
|
2,250 | 2,500 | ||||||
Tax
Benefits of Net Operating Loss Carryforward and Change in Valuation
Allowance
|
- | (13,500 | ) | |||||
Total
Provision (Credit) for Income Tax (Net of Tax Benefits and
Change In Valuation Allowance)
|
$ | 13,750 | $ | (1,000 | ) | |||
Net
Income
|
$ | 26,794 | $ | 40,207 | ||||
Income
per Common Share
|
$ | .01 | $ | .01 | ||||
Average
Shares of Common Stock Outstanding
|
2,982,662 | 2,982,662 |
See
Accompanying Notes to Financial Statements.
-3-
MILLER INDUSTRIES,
INC.
STATEMENT OF
OPERATIONS
FOR THE SIX MONTHS ENDED
OCTOBER 31, 2010 AND 2009
(UNAUDITED)
Six Months Ended
|
||||||||
10/31/10
|
10/31/09
|
|||||||
Revenues:
|
||||||||
Rental
Income
|
$ | 193,017 | $ | 186,267 | ||||
Hardware
Sales (Net)
|
134 | 180 | ||||||
Other
Income
|
3,143 | 3,486 | ||||||
Total
Revenue
|
$ | 196,294 | $ | 189,933 | ||||
Expenses:
|
||||||||
Rental
Expense (Except Interest)
|
$ | 90,252 | $ | 77,574 | ||||
Administrative
|
21,227 | 23,725 | ||||||
Interest
|
16,838 | 24,989 | ||||||
Total
Expenses
|
$ | 128,317 | $ | 126,288 | ||||
Income
Before Tax Provision
|
$ | 67,977 | $ | 63,645 | ||||
Provision for Income
Tax:
|
||||||||
Federal
Income Tax
|
$ | 17,500 | $ | 15,000 | ||||
State
Income Tax
|
3,700 | 4,000 | ||||||
Tax
Benefits of Net Operating Loss Carryforward and Change in Valuation
Allowance
|
- | (27,000 | ) | |||||
Total
Provision (credit) for Income Tax (Net of Tax Benefits and
Change In Valuation Allowance)
|
$ | 21,200 | $ | (8,000 | ) | |||
Net
Income
|
$ | 46,777 | $ | 71,645 | ||||
Income
per Common Share
|
$ | .02 | $ | .02 | ||||
Average
Shares of Common Stock Outstanding
|
2,982,662 | 2,982,662 |
See
Accompanying Notes to Financial Statements.
-4-
MILLER INDUSTRIES,
INC.
STATEMENT OF CASH
FLOWS
FOR THE SIX MONTHS ENDED
OCTOBER 31, 2010 AND 2009
(UNAUDITED)
Six Months Ended
|
||||||||
10/31/10
|
10/31/09
|
|||||||
Cash Flows From
Operating Activities:
|
||||||||
Net
Income
|
$ | 46,777 | $ | 71,645 | ||||
Adjustments
to Reconcile Net Income to Net Cash Provided by Operating
Activities:
|
||||||||
Provision
for Bad Debts
|
(700 | ) | (9,000 | ) | ||||
Depreciation
|
8,037 | 7,146 | ||||||
Amortization
|
3,372 | 5,513 | ||||||
Deferred
Tax Asset Valuation Adjustment
|
21,200 | (8,000 | ) | |||||
Changes
in Operating Assets and Liabilities
|
3,708 | (33,762 | ) | |||||
Net
Cash Provided by Operating Activities
|
$ | 82,394 | $ | 33,542 | ||||
Cash Flows From
Investing Activities:
|
||||||||
Acquisition
of Property and Equipment
|
$ | - | $ | - | ||||
Net
Cash (Used in) Investing Activities
|
$ | - | $ | - | ||||
Cash Flows From
Financing Activities:
|
||||||||
Principal
Payments Under Borrowings
|
$ | (22,290 | ) | $ | (35,132 | ) | ||
Addition
to Debt
|
- | 20,269 | ||||||
Net
Cash Provided by (Used in) Financing Activities
|
$ | (22,290 | ) | $ | (14,863 | ) | ||
Net
Increase in Cash and Cash Equivalents
|
$ | 60,104 | $ | 18,679 | ||||
Cash at the Beginning of
Year
|
1,512,525 | 1,477,521 | ||||||
Cash at the End of Year
|
$ | 1,572,629 | $ | 1,496,200 | ||||
Additional
Cash Flow Information:
|
||||||||
Cash
Paid for Interest
|
$ | 18,576 | $ | 27,614 | ||||
Cash
Paid for Income Tax
|
$ | - | $ | - |
See
Accompanying Notes to Financial Statements.
-5-
MILLER INDUSTRIES,
INC.
NOTES TO FINANCIAL
STATEMENTS
OCTOBER 31,
2010
(UNAUDITED)
NOTE A - BASIS OF
PRESENTATION:
The accompanying unaudited financial
statements have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to
Article 10 of Regulation S-X. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. Operating results for the three and six month
periods ending October 31, 2010 are not necessarily indicative of results that
may be expected for the year ended April 30, 2011.
For further information, refer to the
financial statements and footnotes thereto of the Company as of April 30, 2010
and for the year ended April 30, 2010.
NOTE B – Earnings Per
Share:
In accordance with Financial Accounting
Standards No. 128, basic earnings per share is computed based on the
weighted-average number of common shares outstanding during each year and
excludes any potential dilusion. Diluted earning per share is based
on the weighted-average number of common shares outstanding as well as
potentially dilutive common shares, which in the Company’s case include shares
issuable under the stock option agreement. The Company’s outstanding
options are not included in the computation of basic or diluted earnings per
share since they are anti-dilutive. At October 31, 2010 potentially
dilutive securities consist of an option that could be converted into 2,017.338
common shares.
NOTE C – Use of
Estimates:
The preparation of financial statements
in conformity with generally accepted accounting principles requires management
to make estimates and assumptions that affect the amounts reported in the
financial statements and accompanying notes Actual results could differ from
those estimates. The most significant estimates included in the
preparation of the financial statements are related to income taxes, asset
lives, accruals and valuation allowances.
NOTE D – Stock Option
Ageement:
On June 30, 2005, the Company issued
stock options to Angelo Napolitano in exchange for the benefits he has provided
to the Company through his personal guarantee of the Company’s bank loan, and
the services rendered by Mr. Napolitano in his capacity as the Company’s sole
officer and director. The options vest 100% at the grant date and
expire in 10 years from the grant date. The Company granted options
to Mr. Napolitano to purchase up to 2,017,338 shares of the Company’s common
stock during the term of the options at a price equal to $0.18 per share
(Exercise Price).
-6-
The average fair values of the options
granted during fiscal 2006 were estimated at $0.0324, using the Black-Scholes
options-pricing model, which included the following assumptions:
Stock
Price
|
$ | 0.05 | ||
Strike
Price
|
0.18 | |||
Expected
Life
|
9.17
Years
|
|||
Risk-Free
Interest Rate
|
3.80 | % | ||
Volatility
|
79.23 | % |
Approximately $65,400 was recorded as
compensation expense for fiscal 2006 related to this grant.
On February 22, 2010 the company
modified the option previously granted to Angelo Napolitano that entitles him to
acquire 2,017,338 shares of the Company’s common stock. Under the
terms of the modification, the exercise price for the options was reduced from
$.18 per share to $.06 per share. The Company reduced the exercise
price of the option in consideration of Mr. Napolitano’s guarantee of the
Company’s bank loan and his services as the Company’s president. The
average fair values of the options modified during fiscal 2010 were estimated at
$ .0130 using the Black-Scholes options-pricing model, which included the
following assumptions
2010
|
||||
Sock
Price
|
$ | 04 | ||
Strike
Price
|
$ | .06 | ||
Expected
Life
|
5.17
Years
|
|||
Risk-Free
Interest Rate
|
3.78 | % | ||
Volatility
|
44.6 | % |
The approximate compensation value of
the modified option at February 22, 2010 is $26,000 which is less than the $
65,000 compensation cost of the original option. Under FASB Statement
123R, the accounting for a modification, total compensation cost for the award
should generally not be less than the awards original fair
value. Therefore, if the fair value of the modified award is less
than the fair value of the original award on the modification date, the grant
date value is not reduced.
-7-
A summary of the status of the
company’s stock option agreement as of April 30, 2010 and 2009, and changes
during the years then ended were as follows:
2010
|
2009
|
|||||||||||||||
Shares
|
Exercise
|
Shares
|
Excise
|
|||||||||||||
Subject
|
Price
Per
|
Subject
|
Price
Per
|
|||||||||||||
To Option
|
Share
|
To Option
|
Share
|
|||||||||||||
Outstanding,
May 1
|
2,017,338 | $ | .18 | 2,017,338 | $ | .18 | ||||||||||
Granted
|
- | - | - | - | ||||||||||||
Modification
|
(.12 | ) | - | - | ||||||||||||
Exercised
|
- | - | - | - | ||||||||||||
Cancelled
|
- | - | - | - | ||||||||||||
Outstanding/Exercisable,
April 30
|
2,017,338 | $ | .06 | 2,017,338 | $ | .18 |
The
following summarized information concerning currently outstanding and
exercisable options at October 31, 2010.
Options
Outstanding/Exercisable
|
||||||||||
Exercise Price
|
Number Outstanding at
10/31/10
|
Average Remaining Life
|
||||||||
$ | 0.06 | 2,017,338 | 4.7 |
-8-
ITEM
2. MANAGEMENT'S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
Results of Operations
(Second Quarter of 2010 Fiscal Year Compared to Second Quarter of 2011 Fiscal
Year)
Rental
Income
The
Company's results of operations are primarily dependant upon the rental income
which it receives from leasing space in its building. Rental income
is a function of the percentage of the building which is occupied, and the level
of rental rates. Rental income during the second quarter of the 2010
fiscal year was $94,000, compared with $97,000 in the second quarter of
2011.
Hardware
Sales
The
Company receives revenue from the sale of replacement parts for the sliding
glass doors and windows formerly manufactured by the Company. The
Company utilizes its existing inventory of these parts to support these
sales. These sales were immaterial in 2010 and 2011.
Other
Income
The
Company generated other income of $2,000 in the second quarter of 2010 and
2011. Other income consists of interest income and miscellaneous
income.
Rental Expense (Excluding
Interest)
The
Company incurs rental expense in connection with the leasing of its
building. These expenses consist of management fees, insurance, real
estate taxes, depreciation and amortization, insurance, maintenance and repairs,
utility costs and outside services. Rental expenses were $30,000 in
the second quarter of 2010 compared to $37,000 in the second quarter of
2011. The increase was due to larger bad debt expense.
Cost of Hardware
Sales
The
Company records the cost of its hardware sales in connection with the sale of
replacement parts to customers of its former window and sliding glass door
business. These costs are tied to the level of hardware
sales. These costs were immaterial in the second quarter of 2010 and
2011.
Administrative
Expenses
The
Company's administrative expenses were $12,000 in 2010 and $11,000 in
2011. They primarily consist of accounting and legal fees, and
shareholders expenses.
-9-
Interest
Expense
The
Company pays interest on the mortgage loan on its building. Interest
expense on the loan was $14,000 in 2010 compared to $9,000 in
2011. The decrease in the amount of interest was attributable to a
decrease in the interest rate of the Company’s base loan.
Provision for Income
Taxes
The
Company recorded $13,000 in federal and state income tax expense in 2010, which
was more than offset by the Company’s net operating loss carryforward and change
in valuation allowance. This compares to $13,750 in tax expense
recorded in 2011.
Net
Income
As a
result of the foregoing factors, the Company had net income of $40,000 in the
second quarter of 2010, compared to net income of $27,000 in the second quarter
of 2011.
Results of Operations (First
Half of 2010 Fiscal Year Compared to First Half of 2011 Fiscal
Year)
Rental
Income
The
Company's results of operations are primarily dependant upon the rental income
which it receives from leasing space in its building. Rental income
is a function of the percentage of the building which is occupied, and the level
of rental rates. Rental income during the first half of the 2010
fiscal year was $186,000, compared with $193,000 in the first half of
2011.
Hardware
Sales
The
Company receives revenue from the sale of replacement parts for the sliding
glass doors and windows formerly manufactured by the Company. The
Company utilizes its existing inventory of these parts to support these
sales. These sales, net of cost of goods sold, were immaterial in the
first half of 2010 and 2011.
Other
Income
The
Company generated other income of $3,500 in the first half of 2010 and $3,000 in
the first half of 2011. Other income consists of interest income and
miscellaneous income.
Rental Expense (Excluding
Interest)
The
Company incurs rental expense in connection with the leasing of its
building. These expenses consist of management fees, insurance, real
estate taxes, depreciation and amortization, insurance, maintenance and repairs,
utility costs and outside services. Rental expenses were $78,000 in
the first half of 2010 and $90,000 in the first half of 2011. The
increase in 2011 was due to a higher provision for bad debts.
-10-
Administrative
Expenses
The
Company's administrative expenses were $24,000 in the first half of 2010,
compared to $21,000 in 2011. The increase was primarily due to higher
accounting and legal fees.
Interest
Expense
The
Company pays interest on the mortgage loan on its building. Interest
expense on the loan was $27,000 in the first half of 2010 compared to $19,000 in
2011. The decrease in the amount of interest was attributable to a
decrease in the interest rate of the Company’s base loan.
Provision for Income
Taxes
The
Company recorded federal and state income tax expense of $19,000 in the first
half of 2010 which was offset by the Company’s net operating loss carryforward
and change in valuation allowance. The Company had a provision of
$21,000 in 2011.
Net
Income
As a
result of the foregoing factors, the Company had net income of $72,000 in the
first half of 2010, compared to net income of $47,000 in the first half of
2011.
Liquidity and Capital
Resources
The
Company's cash increased by $19,000 during the first six months of the 2010
fiscal year compared with an increase of $60,000 during the first six months of
fiscal year 2011. The increase in cash in 2010 was due to cash flow
from operations. As of October 31, 2010, the Company's cash position
was approximately $1,573,000.
Current
Operations
The
Company operates as a real estate investment and management
company. The Company is currently seeking to obtain additional
commercial tenants for its existing building.
The
Company's principal operating expenses consist of management and professional
fees associated with the administration of the Company, interest expense on the
Company's new mortgage loan, real estate taxes and insurance.
-11-
ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK.
We are a smaller reporting issuer as
defined in Item 10 of Regulation S-K and are not required to report the
quantitative and qualitative measures of market risk specified in Item 305 of
Regulation S-K.
ITEM
4. CONTROLS AND PROCEDURES
In
connection with the filing of this Form 10-Q, the Company's Chief Executive
Officer and Chief Financial Officer evaluated the effectiveness of the Company's
disclosure controls and procedures as of October 31, 2010. The
Company's Chief Executive Officer and Chief Executive Financial Officer
concluded that the Company's disclosure controls and procedures were effective
as of October 31, 2010.
There
were no changes in the Company's internal controls over financial reporting that
materially affected, or are reasonably likely to materially affect, the
Company's internal control over financial reporting during the fiscal quarter
ended October 31, 2010.
-12-
PART
II. OTHER INFORMATION
ITEM
6. REPORTS ON FORM
8-K
(a) Exhibits
Exhibit No.
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Description
|
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10.1
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Amended
and Restated Option Agreement
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(31.1)
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Certification
of Chief Executive Officer pursuant to Rule 13a-14(a).
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(31.2)
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Certification
of Chief Financial Officer pursuant to Rule 13a-14(a).
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(32.1)
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Certification
of Chief Executive Officer and Chief Financial Officer pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
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(b)
Reports on Form
8-K.
Not
applicable.
SIGNATURE
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.
MILLER
INDUSTRIES, INC.
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||
(Registrant)
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Dated: January
10, 2011
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By:
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/s/ Angelo
Napolitano
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Angelo
Napolitano
Chairman
of the Board of Directors
Chief
Executive Officer
Principal
Financial Officer
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