UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________

FORM 10-Q
__________

                            (Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the quarterly period ended October 1, 2005

OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the transition period from ______ to ______

333-126389
(Commission File Number)
__________


NTK HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
__________
 
 Delaware 
 
 20-1934298
 (State or other jurisdiction of 
  
 (I.R.S. Employer
 incorporation or organization)
  
 Identification No.)
     
 50 Kennedy Plaza, Providence, RI
  
 02903-2360
 (Address of principal executive offices)
  
 (Zip Code)
     
  (401) 751-1600
  (Registrant’s telephone number, including area code)
 
__________

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 for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [X] No [  ]

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Act). Yes [   ]  No [X]

The number of shares of Common Stock outstanding as of November 2, 2005 was 3,000.



PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

NTK HOLDINGS, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
(Dollar amounts in thousands, except share data)
 

   
October 1,
 
December 31,
 
 
 
2005
 
2004
  
Assets
          
Current Assets:
          
Unrestricted cash and cash equivalents
  
$
47,281
  
$
94,955
  
Restricted cash and cash equivalents
    
2,271
   
---
 
Accounts receivable, less allowances of $6,941 and $5,467
   
296,617
   
225,706
 
Inventories:
              
Raw materials
   
77,067
   
72,166
 
Work in process
   
22,780
   
24,249
 
Finished goods
   
125,573
   
109,134
 
     
225,420
   
205,549
 
               
Prepaid expenses
   
11,201
   
8,596
 
Other current assets
   
27,283
   
26,126
 
Prepaid income taxes
   
32,765
   
32,745
 
    Total current assets
   
642,838
   
593,677
 
               
Property and Equipment, at Cost:
              
Land
   
8,780
   
8,683
 
Buildings and improvements
   
72,097
   
75,476
 
Machinery and equipment
   
140,522
   
124,644
 
     
221,399
   
208,803
 
Less accumulated depreciation
   
24,338
   
7,713
 
    Total property and equipment, net
   
197,061
   
201,090
 
               
Other Assets:
              
Goodwill
   
1,383,848
   
1,295,105
 
Intangible assets, less accumulated amortization of $21,507 and $8,436
    
99,312
   
110,715
 
Deferred tax benefit
    
---
   
2,488
 
Deferred debt expense
   
43,346
   
41,741
 
Restricted investments and marketable securities
    
3,808
   
8,605
 
Other assets
    
8,569
   
11,154
 
     
1,538,883
   
1,469,808
 
   
$
2,378,782
  
$
2,264,575
  
Liabilities and Stockholder’s Investment
              
               
Current Liabilities:
              
Notes payable and other short-term obligations
 
$
6,894
  
$
5,364
  
Current maturities of long-term debt
   
11,291
   
14,414
 
Accounts payable
   
171,342
   
137,343
 
Accrued expenses and taxes, net
   
169,451
   
220,784
 
    Total current liabilities
   
358,978
   
377,905
 
               
Other Liabilities:
              
Deferred income taxes
   
10,764
   
---
 
Other
   
211,644
   
214,672
 
     
222,408
   
214,672
 
               
Notes, Mortgage Notes and Obligations Payable, Less Current Maturities 
    
1,625,456
   
1,350,210
 
               
Stockholder’s Investment:
              
Common stock, $0.01 par value, authorized 3,000 shares; 3,000 issued and outstanding at October 1, 2005 and December 31, 2004
    
---
   
---
 
Additional paid-in capital
   
130,100
   
316,823
 
Retained earnings (accumulated deficit)
    
34,400
   
(4,100
)
Accumulated other comprehensive income
    
7,440
   
9,065
 
    Total stockholder's investment
   
171,940
   
321,788
 
Total Liabilities and Stockholder's Investment:
  
$
2,378,782
  
$
2,264,575
  
 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
 
 
NTK HOLDINGS, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
 

   
For the Periods
 
 
 
Post-Acquisition
 
Pre-Acquisition
 
 
 
July 3, 2005 -
 
Aug. 28, 2004 -
 
July 4, 2004 -
 
 
 
Oct. 1, 2005
 
Oct. 2, 2004
 
Aug. 27, 2004
  
   
(Amounts in thousands)
  
               
Net Sales 
  
$
522,866
  
$
161,028
  
$
266,836
  
                     
Costs and Expenses:
                    
Cost of products sold
   
361,268
   
115,892
   
191,073
 
Selling, general and administrative expense
   
89,739
   
28,266
   
46,014
 
Amortization of intangible assets
   
4,391
   
1,404
   
2,020
 
Expenses and charges arising from the Acquisition
    
---
   
---
   
83,700
 
     
455,398
   
145,562
   
322,807
 
Operating earnings (loss)
    
67,468
   
15,466
   
(55,971
)
Interest expense
   
(34,332
)
  
(16,798
)
  
(12,092
)
Loss from debt retirement
    
---
   
---
   
(118,778
)
Investment income
   
264
   
32
   
241
 
Earnings (loss) from continuing operations before provision (benefit) for income taxes
   
33,400
   
(1,300
)
  
(186,600
)
Provision (benefit) for income taxes
   
13,700
   
(500
)
  
(55,200
)
Earnings (loss) from continuing operations 
    
19,700
   
(800
)
  
(131,400
)
Earnings from discontinued operations 
    
---
   
---
   
500
 
Net earnings (loss)
  
$
19,700
  
$
(800