-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SrdFz3QZZBEA3tEo2fuZQbkJTjC8Eakik1D1B2FFk9Wp48YEHgLioFSU0aQHi2pN ztg1pWezcGoEbNj1HL5tUQ== 0001000577-98-000003.txt : 19980701 0001000577-98-000003.hdr.sgml : 19980701 ACCESSION NUMBER: 0001000577-98-000003 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980630 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIMON TRANSPORTATION SERVICES INC CENTRAL INDEX KEY: 0001000577 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 870545608 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-27208 FILM NUMBER: 98657364 BUSINESS ADDRESS: STREET 1: 4646 SOUTH 500 WEST CITY: SALT LAKE CITY STATE: UT ZIP: 84123 BUSINESS PHONE: 8012689100 MAIL ADDRESS: STREET 1: P O BOX 26297 CITY: SALT LAKE CITY STATE: UT ZIP: 84126-0297 11-K 1 ANNUAL REPORT PURSUANT TO SECTION 15(D) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE PLAN YEAR ENDED DECEMBER 31, 1997 0-27208 (Commission File Number) DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST (Title of the Plan) SIMON TRANSPORTATION SERVICES INC. (Name of Issuer of the Securities Held Pursuant to the Plan) 5175 West 2100 West, Salt Lake City, Utah 84120 (Address of Principal Executive Office) DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST FINANCIAL STATEMENTS AS OF DECEMBER 31, 1997 AND 1996 TOGETHER WITH REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Administrator and Participants of the Dick Simon Trucking, Inc. Profit Sharing Plan and Trust: We have audited the accompanying statements of net assets available for benefits of the Dick Simon Trucking, Inc. Profit Sharing Plan and Trust (the "Plan") as of December 31, 1997 and 1996, and the related statement of changes in net assets available for benefits for the year ended December 31, 1997. These financial statements and the schedules referred to below are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements and schedules based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Dick Simon Trucking, Inc. Profit Sharing Plan and Trust as of December 31, 1997 and 1996, and the changes in its net assets available for benefits for the year ended December 31, 1997 in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for purposes of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The fund information in the statement of changes in net assets available for benefits is presented for purposes of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. ARTHUR ANDERSEN LLP Salt Lake City, Utah June 19, 1998 DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST INDEX TO FINANCIAL STATEMENTS AND SCHEDULES Page FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits as of December 31, 1997 and 1996 1 Statement of Changes in Net Assets Available for Benefits with Fund Information for the Year Ended December 31, 1997 2 - 5 Notes to Financial Statements 6 - 9 SUPPLEMENTAL SCHEDULES: Schedule of Assets Held for Investment Purposes as of December 31, 1997 10 Schedule of Reportable Transactions for the Year Ended December 31, 1997 11 DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1997 AND 1996 1997 1996 -------------------- -------------------- INVESTMENTS, at fair value: Fidelity Advisor Funds- Growth Opportunities Fund $ 1,164,242 $ 1,116,281 Equity Growth Fund 702,496 442,535 Daily Money Fund: US Treasury 358,126 326,334 High Yield Fund 241,040 203,866 Equity Income Fund 130,921 11,705 Natural Resources Fund 63,709 11,845 Overseas Fund 57,082 3,990 Daily Money Fund: Money Market 45,513 63,547 Income & Growth Fund 31,860 1,117 Mid Cap Fund 19,096 666 Strategic Opportunities Fund 13,655 1,498 Emerging Markets Income Fund 13,386 635 Strategic Income Fund 7,766 456 Short Fixed Income Fund 6,617 756 Government Investment Fund 5,668 931 Intermediate Bond Fund 5,393 765 Large Cap Fund 4,055 66 Simon Transportation common stock 1,962,072 1,075,530 Participant loans 447,034 154,059 -------------------- -------------------- Total investments 5,279,731 3,416,582 -------------------- -------------------- CASH 184 4 -------------------- -------------------- RECEIVABLES: Participant contributions 68,439 57,947 Employer contributions 28,710 45,821 Accrued interest and dividends 16,472 - -------------------- -------------------- Total receivables 113,621 103,768 ==================== ==================== NET ASSETS AVAILABLE FOR BENEFITS $ 5,393,536 $ 3,520,354 ==================== ====================
The accompanying notes to financial statements are an integral part of this statement. DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1997
FIDELITY ADVISOR FUNDS ------------------- ------------- --------------- --------------- --------------- Growth Equity Daily Money Opportunities Fund Growth Fund Fund: US High Equity Income Treasury Yield Fund Fund ------------------- ------------- --------------- --------------- --------------- ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income- Net realized gain (loss) $ 79,677 $ 30,180 $ - $ 3,353 $ 2,049 Net unrealized appreciation (depreciation) in fair value of investments 134,056 19,285 - 2,761 3,070 Interest and dividends 76,402 77,725 17,237 25,360 8,286 Contributions- Employer 96,638 65,041 37,381 23,869 15,436 Participant 209,382 147,673 80,461 52,399 43,151 Rollovers 14,575 23,815 18,761 9,820 8,802 ------------------- ------------- --------------- --------------- --------------- Total additions 610,730 363,719 153,840 117,562 80,794 ------------------- ------------- --------------- --------------- --------------- REDUCTIONS IN NET ASSETS ATTRIBUTED TO: Distributions to participants (200,788) (90,702) (55,059) (26,544) (2,102) Administrative expenses (8,914) (4,451) (2,610) (1,688) (433) ------------------- ------------- --------------- --------------- --------------- Total reductions (209,702) (95,153) (57,669) (28,232) (2,535) ------------------- ------------- --------------- --------------- --------------- ------------------- ------------- --------------- --------------- --------------- NET INTERFUND TRANSFERS (353,067) (8,605) (64,379) (52,156) 40,957 ------------------- ------------- --------------- --------------- --------------- Net increase (decrease) 47,961 259,961 31,792 37,174 119,216 NET ASSETS AVAILABLE FOR BENEFITS, beginning of the year 1,116,281 442,535 326,334 203,866 11,705 ------------------- ------------- --------------- --------------- --------------- NET ASSETS AVAILABLE FOR BENEFITS, end of the year $ 1,164,242 $ 702,496 $ 358,126 $ 241,040 $ 130,921 =================== ============= =============== =============== ===============
Page 1 of 4 The accompanying notes to financial statements are an integral part of this statement. Page 2 of 4 DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1997
FIDELITY ADVISOR FUNDS -------------- --------------- ------------------ ------------- --------------- Natural Daily Money Income & Resources Overseas Fund Fund: Money Growth Fund Mid Fund Market Cap Fund -------------- --------------- ------------------ ------------- --------------- ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income- Net realized gain (loss) $ (87) $ 829 $ - $ 230 $ 3 Net unrealized appreciation (depreciation) in fair value of investments (10,148) (3,268) - (596) (1,339) Interest and dividends 8,891 3,541 16,472 2,422 1,959 Contributions- Employer 6,405 6,974 (17,111) 4,877 1,157 Participant 18,896 20,235 10,492 12,804 3,975 Rollovers 18,484 4,894 - 12,752 - -------------- --------------- ------------------ ------------- --------------- Total additions 42,441 33,205 9,853 32,489 5,755 -------------- --------------- ------------------ ------------- --------------- REDUCTIONS IN NET ASSETS ATTRIBUTED TO: Distributions to participants (2,782) (334) - (993) - Administrative expenses (270) (208) (5) (89) (30) -------------- --------------- ------------------ ------------- --------------- Total reductions (3,052) (542) (5) (1,082) (30) -------------- --------------- ------------------ ------------- --------------- -------------- --------------- ------------------ ------------- --------------- NET INTERFUND TRANSFERS 12,475 20,429 (18,029) (664) 12,705 -------------- --------------- ------------------ ------------- --------------- Net increase (decrease) 51,864 53,092 (8,181) 30,743 18,430 NET ASSETS AVAILABLE FOR BENEFITS, beginning of the year 11,845 3,990 167,315 1,117 666 ============== =============== ================== ============= =============== NET ASSETS AVAILABLE FOR BENEFITS, end of the year $ 63,709 $ 57,082 $ 159,134 $ 31,860 $19,096 ============== =============== ================== ============= ===============
Page 2 of 4 The accompanying notes to financial statements are an integral part of this statement. Page 3 of 4 DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1997
FIDELITY ADVISOR FUNDS ------------------------------------------------------------------------------ Strategic Emerging Strategic Short Fixed Government Opportunities Markets Income Income Investment Fund Income Fund Fund Fund Fund ------------------------------------------------------------------------------ ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income- Net realized gain (loss) $ 92 $ 56 $ - $ (4) $ (8) Net unrealized appreciation (depreciation) in fair value of investments (962) (1,946) (197) 3 181 Interest and dividends 1,152 1,866 441 166 215 Contributions- Employer 2,146 1,825 1,107 1,339 951 Participant 5,546 4,807 3,481 2,808 1,689 Rollovers 5,796 6,735 399 - 2,251 ------------------------------------------------------------------------------ Total additions 13,770 13,343 5,231 4,312 5,279 ------------------------------------------------------------------------------ REDUCTIONS IN NET ASSETS ATTRIBUTED TO: Distributions to participants (1,480) (88) - (550) (360) Administrative expenses (27) (40) (16) (24) (22) ------------------------------------------------------------------------------ Total reductions (1,507) (128) (16) (574) (382) ------------------------------------------------------------------------------ NET INTERFUND TRANSFERS (106) (464) 2,095 2,123 (160) ------------------------------------------------------------------------------ Net increase (decrease) 12,157 12,751 7,310 5,861 4,737 NET ASSETS AVAILABLE FOR BENEFITS, beginning of the year 1,498 635 456 756 931 ============================================================================== NET ASSETS AVAILABLE FOR BENEFITS, end of the year $ 13,655 $ 13,386 $ 7,766 $ 6,617 $ 5,668 ==============================================================================
Page 3 of 4 The accompanying notes to financial statements are an integral part of this statement. Page 4 of 4 DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1997
FIDELITY ADVISOR FUNDS ------------------------------ Dick Simon Simon Trucking Intermediate Large Transportation Participant Cash Total All Bond Fund Cap Fund Common Stock Loan Fund Liquidity Funds -------------- --------------- ---------------- --------------- -------------- ------------ ADDITIONS TO NET ASSETS ATTRIBUTED TO: Investment income- Net realized gain (loss) $ (10) $ 12 $ 27,791 $ - $ - $ 144,163 Net unrealized appreciation (depreciation) in fair value of investments 48 (187) 613,748 - - 754,509 Interest and dividends 138 228 - 21,978 2,537 267,016 Contributions- Employer 1,428 521 67,192 - - 317,176 Participant 3,562 1,496 124,311 - - 747,168 Rollovers 745 1,307 27,378 - - 156,514 -------------- --------------- ---------------- --------------- -------------- ------------ Total additions 5,911 3,377 860,420 21,978 2,537 2,386,546 -------------- --------------- ---------------- --------------- -------------- ------------ REDUCTIONS IN NET ASSETS ATTRIBUTED TO: Distributions to participants (1,102) - (69,717) (32,234) (1) (484,836) Administrative expenses (15) (5) (5,509) (4,377) 205 (28,528) -------------- --------------- ---------------- --------------- -------------- ------------ Total reductions (1,117) (5) (75,226) (36,611) 204 (513,364) -------------- --------------- ---------------- --------------- -------------- ------------ NET INTERFUND TRANSFERS (166) 617 101,348 307,608 (2,561) - -------------- --------------- ---------------- --------------- -------------- ------------ Net increase (decrease) 4,628 3,989 886,542 292,975 180 (1,873,182) NET ASSETS AVAILABLE FOR BENEFITS, beginning of the year 765 66 1,075,530 154,059 4 3,520,354 ============== =============== ================ =============== ============== ============ NET ASSETS AVAILABLE FOR BENEFITS, end of the year $ 5,393 $ 4,055 $ 1,962,072 $ 447,034 $ 184 $ 5,393,536 ============== =============== ================ =============== ============== ============
Page 4 of 4 The accompanying notes to financial statements are an integral part of this statement. EIN: 87-0293383 Plan Number: 002 DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST NOTES TO FINANCIAL STATEMENTS (1) PLAN DESCRIPTION Dick Simon Trucking, Inc. (the "Company") adopted the Dick Simon Trucking, Inc. Retirement Plan on October 1, 1987. The Plan was first amended on December 7, 1990 and its name was changed to the Dick Simon Trucking, Inc. 401(k) Profit Sharing Plan. The Plan was amended again on August 10, 1995 and its name was changed to the Dick Simon Trucking, Inc. Profit Sharing Plan and Trust (the "Plan"). On June 20, 1996, the Company adopted the Stanwich Benefits Group, Inc. Regional Prototype Standardized 401(k) Profit Sharing Plan and Trust which amended and restated the Plan in its entirety effective July 1, 1996. The Company serves as the Plan Trustee and Administrator and Fidelity Advisor Funds holds the plan assets and executes investment transactions. The Plan is subject to the Employee Retirement Income Security Act of 1974, as amended ("ERISA"). The following description provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. Eligibility, Contributions and Benefits Employees who have completed one year of service and who have attained 21 years of age are eligible to participate in the Plan. An eligible employee becomes a participant on the next January 1 or July 1 following the date the employee satisfies the eligibility requirements. Participants elect both the amount of the salary reduction contribution and the allocation of the salary reduction contribution among the investment options within the Plan. Salary reduction contributions cannot exceed the lesser of 15 percent of the participant's pretax eligible gross compensation or the maximum amount allowable under the Internal Revenue Code ("IRC"). The Company makes discretionary contributions to the Plan, matching each participant's salary reduction contribution dollar-for-dollar up to 3 percent of the participant's eligible gross compensation. The Company may also make additional discretionary contributions to the Plan. Participants elect the allocation of the Company contributions among the investment options. Participants are immediately fully vested in their salary reduction contributions and related earnings. Participants vest ratably in employer matching contributions over six years of service or fully vest upon occurrence of one of the following events: 1) normal retirement at age 65, 2) death while employed by the Company, or 3) permanent disability. Benefits are normally paid at retirement, disability, death or other termination. Benefit distributions may be made in a single lump sum payment or an annuity. Forfeitures of nonvested employer matching contributions, which amounted to $30,205 during the year ended December 31, 1997, are offset against future employer matching contributions. Investment Options The Plan provides for seventeen investment options listed below. In addition, participants may borrow from their accounts. The investment funds, except for the Simon Transportation Services Inc. Common Stock fund, are managed by Fidelity Advisor Funds. Fidelity Advisor Growth Opportunities Fund - The fund seeks growth through a core investment in traditional growth stocks -- companies with above-average growth in sales or earnings -- plus other opportunities such as special situations, debt securities and cyclicals. Fidelity Advisor Equity Growth Fund - The fund seeks to achieve capital appreciation by investing primarily in growth stocks that demonstrate the potential for above average earnings or sales growth. Fidelity Advisor Daily Money Fund: U.S. Treasury Portfolio - The fund seeks to obtain as high a level of current income as is consistent with the preservation of capital and liquidity.The fund invests only in U.S. treasury securities and repurchase agreements for these securities. Fidelity Advisor High Yield Fund - Investment focus on mature companies that are poised for dramatic growth; and "turnarounds," companies which are expected to return to favor in the marketplace. Bonds are evaluated on the basis of their potential for total return, including high interest and growth of capital investment. Fidelity Advisor Equity Income Fund - The fund seeks stocks that have above-average dividends, are undervalued (which may give them more upward and less downward potential) and have increasing dividends. Fidelity Advisor Natural Resources Fund - The fund seeks long-term growth by investing primarily in domestic and foreign natural resources-related companies across a broadly diversified spectrum of industries. Fidelity Advisor Overseas Fund - The fund primarily invests in securities of companies located in the Americas (other than the United States), Far East, the Pacific Basin and Western Europe. Fidelity Advisor Income and Growth Fund - The fund utilizes a balanced approach to provide the best possible return from income-producing securities. Investments include U.S. Treasury issues, corporate bonds, foreign investments, convertible securities and stocks. Fidelity Advisor Mid Cap Fund - The fund seeks long-term growth of capital by normally investing at least 65 percent of its total assets in mid-cap stocks. The fund may invest the remaining 35 percent of its assets in other securities. Fidelity Advisor Strategic Opportunities Fund - The fund seeks long-term capital appreciation by investing in securities that are undervalued or undiscovered by the marketplace. Fidelity Advisor Emerging Markets Income Fund - The fund seeks high income and, as a secondary objective, the potential for growth by investing in bonds from countries that have the potential for rapid economic expansion. Fidelity Advisor Strategic Income Fund - The fund uses a multi-sector asset allocation process that strategically shifts the fund's weighting among four general investment categories: high yield securities, U.S. government and investment-grade securities, emerging market securities and foreign developed market securities. Fidelity Advisor Short Fixed-Income Fund - The fund seeks to diversify among a broad range of short-term, investment-grade bonds. Capital preservation takes a high priority, but the fund manager also invests for high income. Fidelity Advisor Government Investment Fund - Invests primarily in securities backed by the full faith and credit of the U.S. government and it's various agencies and instrumentalities. Fidelity Advisor Intermediate Bond Fund - The fund seeks a high rate of income consistent with the preservation of capital, along with greater stability through investments in high-quality fixed-income securities. Fidelity Advisor Large Cap Fund - The fund seeks long-term growth of capital by investing primarily in equity securities of companies with large market capitalizations. Simon Transportation Services Inc. Common Stock - Funds are invested in shares of Simon Transportation Services, Inc.'s Class A Common Stock. Any dividends declared on the stock will be invested in additional shares of such stock. Participant Loans Participants may borrow from their fund accounts up to the lesser of $50,000 or 50 percent of the participant's vested interest, as defined. The minimum amount for any loan is $1,000. The loans bear interest at one percent above prime rate on the date of the loan. As of December 31, 1997, the interest rates ranged from 9.25 to 9.75 percent. Loans must be repaid within five years, except for loans used to acquire a principal residence which must be repaid over a reasonable period of time determined by the Administrative Committee. All loans are secured by the participant's account and, regardless of term, become due and payable upon termination of the participant's employment. Fees and expenses incurred by the Plan in originating a loan are paid by the respective participant as a deduction from the loan proceeds. Termination of the Plan The Company may terminate the Plan at any time subject to the provisions of ERISA. If the Plan is terminated, the participants become fully vested and have a nonforfeitable interest in their accounts. (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accounting records of the Plan are maintained on the accrual basis in accordance with generally accepted accounting principles. Distributions to participants are recorded when paid. Investments Contributions are invested by the trustee in the Plan's funds as directed by the participants. Investments, other than participant loans, are carried at fair value based on quoted market prices. Participant loans are valued at face value which approximates the future principal and interest payments discounted at prevailing interest rates for similar instruments. Unrealized appreciation or depreciation caused by fluctuations in the fair value of investments is recognized in income currently. Interest and dividends are recognized as earned and reinvested. Expenses The Plan pays all administrative expenses and fees relating to investment and management of the Plan funds, except legal and accounting fees which are paid by the Company. Fees relating to certain withdrawals are paid by the participant. Net Unrealized Appreciation (Depreciation) in Fair Value of Investments Net unrealized appreciation (depreciation) in fair value of investments is determined by comparing the fair value of each investment at the beginning of the plan year (or at the date of purchase for investments acquired during the plan year) with the fair value at the end of the plan year. Net Realized Gain (Loss) on Investments Net realized gain (loss) on investments is determined by comparing the sales price of each investment as of the disposition date with the fair value at the beginning of the plan year (or at the date of purchase for investments acquired during the current plan year). (3) FEDERAL INCOME TAXES The Internal Revenue Service has issued a favorable determination letter dated October 25, 1993 stating that the Plan and related trust has been structured to qualify for tax exempt status under Section 401(a) of the IRC. The Plan's Administrative Committee and legal counsel believe that the Plan continues to be designed and operated in accordance with the applicable IRC requirements and with the requirements of ERISA. (4) SUBSEQUENT EVENT Subsequent to December 31, 1997, the fair value of the Simon Transportation Services Inc. Common Stock fund declined significantly. As of December 31, 1997, the price per share was $24.00 and as of June 19, 1998 the price per share was $6.875, resulting in a decrease in the investment value of the fund from $1,962,072 to $562,052. DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST LINE 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 1997 (b) Identity of issue, (e) (a)borrower, lessor or similar party (c) Description of investment (d) Cost Current value - -- ---------------------------------- ----------------------------------------------------------- ----------------- ---------------- * Simon Transportation Services 81,573 shares of common stock $ 1,053,246 $ 1,962,072 Fidelity Investments 27,426 shares of Fidelity Advisor Growth Opportunities 1,164,242 * Fund 993,688 * Fidelity Investments 15,192 shares of Fidelity Advisor Equity Growth Fund 671,268 702,496 * Participant loans Interest rates ranging from 9.25% to 9.75% 447,034 447,034 * Fidelity Investments 358,126 shares of Fidelity Advisor Daily Money Fund: US Treasury 358,126 358,126 * Fidelity Investments 19,161 shares of Fidelity Advisor High Yield Fund 235,835 241,040 * Fidelity Investments 5,082 shares of Fidelity Advisor Equity Income Fund 126,561 130,921 * Fidelity Investments 3,040 shares of Fidelity Advisor Natural Resources Fund 73,676 63,709 * Fidelity Investments 3,572 shares of Fidelity Advisor Overseas Fund 59,689 57,082 * Fidelity Investments 39,516 shares of Fidelity Advisor Daily Money Fund: Money Market 39,516 45,513 * Fidelity Investments 1,751 shares of Fidelity Advisor Income & Growth Fund 32,362 31,860 * Fidelity Investments 1,470 shares of Fidelity Advisor Mid Cap Fund 20,418 19,096 * Fidelity Investments 540 shares of Fidelity Advisor Strategic Opportunities Fund 14,635 13,655 * Fidelity Investments 1,207 shares of Fidelity Advisor Emerging Market Income Fund 15,286 13,386 * Fidelity Investments 701 shares of Fidelity Advisor Strategic Income Fund 7,964 7,766 * Fidelity Investments 708 shares of Fidelity Advisor Short Fixed Income Fund 6,615 6,617 * Fidelity Investments 585 shares of Fidelity Advisor Government Investment Fund 5,487 5,668 * Fidelity Investments 509 shares of Fidelity Advisor Intermediate Bond Fund 5,344 5,393 * Fidelity Investments 303 shares of Fidelity Advisor Large Cap Fund 4,230 4,055 ================= ================ $ 4,170,980 $ 5,279,731 ================= ================
* Denotes party-in-interest DICK SIMON TRUCKING, INC. PROFIT SHARING PLAN AND TRUST LINE 27d - SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1997 (f) Current (c) (d) (e) value at (g) (a) Identity of (b) Description Purchase Selling Cost of transaction Net party involved of asset price price asset date gain - ------------------------------ --------------------------------- -------------- -------------- ------------ ------------- ---------- * Simon Transportation Common Stock Services $ 374,958 $ - $ 374,958 $ 374,958 $ - * Fidelity Investments Fidelity Advisor Growth Opportunities Fund 480,892 - 480,892 480,892 - * Fidelity Investments Fidelity Advisor Equity Growth Fund 408,997 - 408,997 408,997 - * Fidelity Investments Fidelity Advisor Daily Money Fund-US Treasury 227,365 - 227,365 227,365 - * Plan Participants Participant Loans 509,841 - 509,841 509,841 - * Fidelity Investments Fidelity Advisor Growth Opportunities Fund - 668,824 576,336 668,824 92,488 * Fidelity Investments Fidelity Advisor Equity Growth Fund - 233,006 207,489 233,006 25,517 * Fidelity Investments Fidelity Advisor Daily Money Fund-US Treasury - 187,248 187,248 187,248 - * Plan Participants Participant Loans - 248,208 248,208 248,208 -
* Denotes party-in-interest SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator has duly caused this annual report to be signed by the undersigned thereunto duly authorized. Dick Simon Trucking, Inc. Profit Sharing Plan and Trust (Registrant) /s/ Alban B. Lang Alban B. Lang Plan Administrator Dated: June 29, 1998 EX-99 2 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS Exhibit CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation of our report included in this Form 11-K, into the Company's previously filed Registration Statement on Form S-8 File No. 33-80391. ARTHUR ANDERSEN LLP Salt Lake City, Utah June 29, 1998 -----END PRIVACY-ENHANCED MESSAGE-----