WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

Date of Report: February 6, 2004

COMPX INTERNATIONAL INC.
(Exact name of Registrant as specified in its charter)

Delaware                         1-13905                57-0981653
(State or other                   (Commission             (IRS Employer
jurisdiction of                  File Number)            Identification
incorporation)                                                No.)

5430 LBJ Freeway, Suite 1700, Dallas, TX              75240-2697
(Address of principal executive offices)              (Zip Code)

(972) 233-1700
(Registrant's telephone number, including area code)

(Former name or address, if changed since last report)

Item 9:  Regulation FD Disclosure
Item 12: Results of Operations and Financial Condition

Pursuant to Items 9 and 12 of this current  report,  the registrant  hereby
furnishes the  information  set forth in the press release issued on February 6,
2004, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein
by reference.

The information,  including the exhibit,  the registrant  furnishes in this
report is not deemed  "filed"  for  purposes  of  section  18 of the  Securities
Exchange Act of 1934, as amended,  or otherwise  subject to the  liabilities  of
that  section.  Registration  statements  or  other  documents  filed  with  the
Securities and Exchange  Commission  shall not incorporate  this  information by
reference, except as otherwise expressly stated in such filing.

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 hereunto duly authorized.

COMPX INTERNATIONAL INC.
(Registrant)

By:  /s/ A. Andrew R. Louis
-----------------------
A. Andrew R. Louis
Secretary

Date:  February 6, 2004

INDEX TO EXHIBITS

Exhibit No.       Description
-----------       --------------------------------------------------

99.1              Press release dated February 6, 2004 issued by CompX 
International Inc.

[LOGO GOES HERE]

PRESS RELEASE

FOR IMMEDIATE RELEASE:                               CONTACT:

CompX International Inc.                                      David A. Bowers
5430 LBJ Freeway, Suite 1700                                  President & CEO
Dallas, Texas 75240                                           Tel. 864-286-1122

COMPX REPORTS FOURTH QUARTER AND FULL YEAR 2003 OPERATING RESULTS

Dallas,  TEXAS ... February 6, 2004 ... CompX  International  Inc.  (NYSE:  CIX)
announced  today sales of $54.3  million for the fourth  quarter of 2003 and net
income of $800,000,  or $0.05 per diluted share.  This represents an increase in
sales of 14% from $47.7 million in the year ago quarter. For the comparable 2002
quarter,  the Company reported a net loss of $1.8 million,  or $0.12 per diluted
share.  Net sales for the year  ended  December  31,  2003 were  $207.5  million
compared  to $196.1  million  the  previous  year.  Net income for 2003 was $1.3
million, or $0.08 per diluted share,  compared to $600,000, or $0.04 per diluted
share in 2002.  Certain items  affecting  the  comparability  of CompX's  fourth
quarter and annual results in 2002 and 2003 are discussed below.

Fourth quarter comparability

o    Fourth quarter 2002 results  included pre-tax charges of $3.5 million ($2.3
million, or $0.15 per diluted share, net of income tax benefit) relating to
retooling  the  Byron  Center,   Michigan   precision  slide  facility  and
inventory-related charges.

o    Fourth  quarter  2003  results were  impacted by  fluctuations  in currency
exchange rates as compared to the fourth quarter of 2002,  which  favorably
affected  net sales by $2.6  million  but  unfavorably  affected  operating
income by $1.2  million.  The impact on net sales is  primarily  due to the
weakening  U.S.  dollar in relation to the euro and  Canadian  dollar.  The
impact  on  operating  income  is  primarily  from the  Company's  Canadian
operations, where the majority of net sales are denominated in U.S. dollars
while the majority of expenses are denominated in Canadian dollars.

Annual comparability

o    In addition to the above  mentioned  fourth  quarter 2002 charge,  the 2002
results were positively impacted by a first quarter pension settlement gain
of $700,000 ($400,000, or $0.03 per diluted share, net of income taxes).

o    The  Company's   results  for  2003   included  a  third  quarter   pre-tax
restructuring  charge of $3.3 million ($1.8  million,  or $0.12 per diluted
share, net of income tax benefit) relating to a formal headcount  reduction
plan at the Company's Maastricht, the Netherlands manufacturing facility.

o    Fluctuations  in currency  exchange rates  favorably  affected net sales by
$8.9 million for the year ending  December 31, 2003 as compared to the same
period in 2002, but negatively affected operating income by $3.8 million.

Excluding the 2003  restructuring  charge,  the 2002 pension settlement gain and
2002 plant retooling and inventory charges,  net income for the year of 2003 was
$3.1 million,  or $0.21 per diluted share, as compared to $2.5 million, or $0.17
per diluted share, in 2002.

"Fourth  quarter sales were better than expected as we see signs of the economic
recovery  taking hold in our markets."  commented  David A. Bowers,  President &
CEO.  "We are  encouraged  by fourth  quarter  performance  which in part is the
result of the positive impact of lean manufacturing initiatives, rationalization
of  production  capacity and the addition of new  customer  business  throughout
2003."

Security Products Segment

CompX  Security  Products  experienced a 19% increase in net sales in the fourth
quarter of 2003 with $20.1  million  compared to the same  quarter  last year of
$16.9 million.  Net sales for this segment  increased 4%  year-to-year  to $76.2
million from $73.4 million  primarily,  as a result of increased  sales volumes.
Fourth  quarter  operating  income  increased  from $1.4 million in 2002 to $2.2
million in 2003. For the year, operating income improved to $9.7 million in 2003
compared  to $8.1  million  in  2002.  The  quarter  and year  operating  income
improvements  were  primarily  due to the  increase  in sales  volumes  and lean
manufacturing  initiatives implemented throughout the year. The operating income
improvement  in 2003 also results in part from  $600,000 in 2002 fourth  quarter
inventory related charges.

Waterloo Segment

Net sales for the Waterloo segment  increased 10% to $25.5 million in the fourth
quarter of 2003 from $23.1 million in the fourth  quarter in 2002, and increased
5% from  $93.1  million  for the 2002  year to  $97.5  million  in  2003.  Sales
comparisons  were favorably  impacted by relative  changes in currency  exchange
rates and higher slide products  volume,  which more than offset the unfavorable
impact of lower ergonomic  products  volume.  Operating  income for this segment
improved from a loss of $1.1 million in the fourth  quarter of 2002 to income of
$200,000 for the fourth quarter of 2003, and improved  year-to-year  from a loss
of $1.1  million  in 2002 to  income  of  $400,000  in  2003.  Operating  income
comparisons were affected by unfavorable  relative changes in currency  exchange
rates of $1.1 million in the fourth  quarter and $3.1 million  year-to-year  and
the  comparative  impact of fourth quarter 2002 retooling and inventory  related
charges  of $2.9  million.  Excluding  the  currency  effect  and 2002  charges,
operating  income  improved  from  2002 to 2003  primarily  due to slide  volume
increases  and the positive  impact in 2003 of the 2002 Byron  Center,  Michigan
plant retooling.

Thomas Regout Segment

Net sales for the Thomas  Regout  segment  increased  13% to $8.7 million in the
fourth quarter of 2003 from $7.7 million in the fourth quarter of 2002. However,
the  increase  is due to  relative  changes in currency  exchange  rates,  which
favorably  impacted net sales by $1.4 million and more than offset the effect of
lower  volumes  of  precision  slide  shipments  to  European  office  furniture
manufacturers.  For the year 2003,  net sales  increased 14% to $33.9 million as
compared to $29.6 million for 2002, as the favorable  effect of  fluctuations in
currency exchange rates of $5.6 million more than offset the impact of decreases
in precision slide shipments. The fourth quarter of 2003 operating loss for this
segment was $600,000 compared to an operating loss of $500,000 in 2002. The 2003
year  operating  loss for this segment was $6.0  million,  compared to a loss of
$700,000 for 2002, which reflects the previously mentioned restructuring charge,
lower precision slide shipments to European office furniture manufacturers and a
negative currency exchange rate fluctuation impact of $800,000.

Mr. Bowers further  commented,  "The benefits from the restructuring  actions at
Thomas  Regout  during the third  quarter  2003 are  expected to begin to have a
favorable affect on results by the second quarter of 2004 and beyond.  While the
outlook for Thomas  Regout is  improving,  we  continue  to  evaluate  strategic
alternatives, some of which could result in additional charges in the future."

He  concluded,  "While  the  2003  industry  and  general  economic  environment
adversely impacted our operating results,  we successfully  executed a number of
cost  savings  initiatives  that improve our  competitive  position for 2004 and
beyond. Our cost structure has been better aligned with expected demand, systems
upgrades are well underway and we have invested in both new product and customer
oriented  strategies  to  enhance  profitability  of the  Company.  Our focus on
working  capital has enabled us to generate $5.1 million in cash from  inventory
during  2003  through  implementation  of more  efficient  inventory  management
processes.  Overall  cash flow  from  operations  improved  for the year by 44%,
allowing us to reduce our outstanding debt and strengthen our financial position
as we continue to move the Company forward."

Liquidity and Cash Flow

Cash  provided by operating  activities  improved to $24.4  million for the year
compared to $16.9 million in the prior year. The improvement in cash provided by
operating  activities  was  primarily  due to  efficient  management  of working
capital.  The Company  improved  total cash to $21.7  million as of December 31,
2003  compared  to $12.4  million as of  December  31,  2002,  while  total debt
declined  $5 million  over the same  period.  On January 28,  2004,  the Company
utilized a portion of its cash  balance to reduce  debt by an  additional  $12.0
million.

Non-GAAP Measurements

In  addition to the results  provided  throughout  this  release  calculated  in
accordance with  accounting  standards  generally  accepted in the United States
("GAAP"), the Company has provided non-GAAP measurements,  which present results
on a basis  excluding  the  restructuring  and other  specific  charges  and the
pension settlement gain. The Company has provided these non-GAAP measurements as
a measure to help investors better understand the comparability of the Company's
operating  performance.  Among other things, the Company's  management uses this
non-GAAP measure of the Company's operating results, to evaluate the performance
of its business  operations.  Investors should consider this non-GAAP measure in
addition  to, and not in  substitution  for, or as superior  to, the measures of
financial performance prepared in accordance with GAAP.

The following  table provides a  reconciliation  of GAAP net income and earnings
per share to net income and earnings  per share  excluding  the items  specified
below:

Fourth Quarter                Year
(Dollars in millions, except per share data)                         2002        2003          2002       2003
----------------------------------------------------------------------------------------------------------------

GAAP net income (loss)                                            $   (1.8)   $    0.8      $    0.6    $    1.3
Adjustments:
Restructuring charge                                                   -          (0.2)                      3.3
Facility retooling and inventory charges                               3.5         -             3.5         -
Pension settlement gain                                                -           -            (0.7)        -
Income tax expense (benefit)                                          (1.2)        0.1          (0.9)       (1.5)
---------   ---------     ---------   ---------
Adjusted net income                                               $    0.5    $    0.7      $    2.5    $    3.1 
========    =========     =========   =========
Adjusted net income per share                                     $   0.03    $   0.05       $   0.17    $  0.21  
========    ========      ========    =========
Shares used in computing basic and diluted
adjusted net income per share                                15.1        15.1          15.1        15.1 
========    =========     ========    =========

About CompX International

CompX is a leading  manufacturer  of  precision  ball bearing  slides,  security
products  and  ergonomic  computer  support  systems.  It  operates  from  seven
locations in the U.S.,  Canada, the Netherlands and Taiwan and employs more than
1,800 people.

Statements in this release relating to matters that are not historical facts are
forward-looking  statements based upon management's belief and assumptions using
currently  available  information.  Although  CompX  believes  the  expectations
reflected in such forward-looking  statements are reasonable, it cannot give any
assurances that these expectations will prove to be correct. Such statements, by
their  nature,   involve   substantial  risks  and   uncertainties   that  could
significantly  impact expected  results,  and actual future results could differ
materially from those described in such forward-looking statements.  While it is
not  possible to identify all  factors,  CompX  continues to face many risks and
uncertainties.  Among the factors  that could  cause  actual  future  results to
differ  materially  include,  but are  not  limited  to,  general  economic  and
political conditions,  demand for office furniture,  service industry employment
levels,  competitive  products  and prices,  fluctuations  in currency  exchange
rates, the introduction of trade barriers, potential difficulties in integrating
completed  acquisitions,   negotiations  with  employee  and  government  groups
relating to  employee  severance,  the timing and amount of future cost  savings
from restructuring  actions, the ability to sustain or increase operating income
improvement  resulting from cost control initiatives,  uncertainties  associated
with new  product  development  and other  risks and  uncertainties  detailed in
CompX's Securities and Exchange Commission filings.  Should one or more of these
risks materialize (or the consequences of such a development  worsen), or should
the  underlying  assumptions  prove  incorrect,   actual  results  could  differ
materially  from those  forecast or expected.  CompX  disclaims any intention or
obligation to publicly update or revise such  statements  whether as a result of
new  information,  future  events or otherwise.  The Company's  2003 results are
subject to the  completion  of an audit and the filing of its 2003 Annual Report
on Form 10-K.

* * * * *

COMPX INTERNATIONAL INC.
SUMMARY OF CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share
amounts) (Unaudited)

Three months ended                   Year ended
December 31,                     December 31,
2002             2003            2002           2003  
------------------------        ------------------------

Net sales                                     $  47.7          $  54.3        $  196.1      $   207.5

Cost of goods sold                               41.9             46.0           163.2          172.8
------------------------        -----------------------

Gross profit                                      5.8              8.3            32.9           34.7

Selling, general and administrative               6.1              6.8            26.7           27.3

Restructuring expense                             -               (0.2)            -              3.3
-------------------------       -----------------------

Operating income (loss)                          (0.3)             1.7             6.2            4.1

Interest expense                                 (0.2)            (0.3)           (1.9)          (1.3)

Other income (expense)                           (0.9)             -              (0.9)          (0.5)
------------------------        ------------------------

Income (loss) before income taxes                (1.4)             1.4             3.4            2.3

Income tax expense                                0.4              0.6             2.8            1.0
------------------------        -----------------------

Net income (loss)                             $  (1.8)         $   0.8        $    0.6        $   1.3
========================        =======================

Net income (loss) per diluted
common share                                $(0.12)          $  0.05        $   0.04        $  0.08
========================        =======================

Weighted average diluted common
shares outstanding                             15.1             15.1            15.1           15.1
========================        =======================

COMPX INTERNATIONAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)

December 31,        December 31,
2002                2003     
-----------------     --------------
Assets                                                 (Unaudited)

Current assets:

Cash and equivalents                                     $      12.4          $      21.7

Accounts receivable, net                                        22.9                 25.7

Inventories                                                     28.9                 26.3

Prepaid expenses and other                                       7.1                  6.5
-----------          -----------

Total current assets                                        71.3                 80.2

Intangibles                                                        42.9                 45.3

Net property and equipment                                         85.2                 83.2

Other assets                                                        0.7                  0.4
-----------          -----------

Total assets                                       $     200.1          $     209.1
===========          ===========

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable and accrued liabilities                 $      21.3          $      24.0

Accrued income taxes and other                                   0.8                  0.5
-----------          -----------

Total current liabilities                                   22.1                 24.5

Long-term debt                                                     31.0                 26.0

Other non-current liabilities                                       5.0                  4.2

Stockholders' equity                                              142.0                154.4
-----------          -----------

Total liabilities and stockholders' equity         $     200.1          $     209.1
===========          ===========