-----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, RH5tsS1snwaSJ/eDTNIwtf6xdeus585axzQohd6k4M/RjVxYQcviJaPb3hbtpZUS Id9VF3uDRke5ZnsEP4rO8g== 0000891092-03-003015.txt : 20031029 0000891092-03-003015.hdr.sgml : 20031029 20031028173134 ACCESSION NUMBER: 0000891092-03-003015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031027 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031029 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EGL INC CENTRAL INDEX KEY: 0001001718 STANDARD INDUSTRIAL CLASSIFICATION: ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO [4731] IRS NUMBER: 760094895 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27288 FILM NUMBER: 03961782 BUSINESS ADDRESS: STREET 1: 15340 VICKERY DR CITY: HOUSTON STATE: TX ZIP: 77032 BUSINESS PHONE: 2816183100 MAIL ADDRESS: STREET 1: 15350 VICKERY DR STREET 2: SUITE 510 CITY: HOUSTON STATE: TX ZIP: 77032 FORMER COMPANY: FORMER CONFORMED NAME: EAGLE USA AIRFREIGHT INC DATE OF NAME CHANGE: 19951002 8-K 1 e16023_8k.txt FORM 8-K 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): October 27, 2003 EGL, Inc. (Exact name of registrant as specified in its charter) Texas 000-27288 76-0094895 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 15350 Vickery Drive, Houston, Texas 77032 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (281) 618-3100 1 Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits The following exhibit is furnished pursuant to Item 12: 99.1 Press Release, dated October 27, 2003, revising guidance for the period ended September 30, 2003. Item 12. Results of Operation and Financial Condition The press release attached hereto as Exhibit 99.1 reports certain financial results for the third quarter of 2003. All of the information furnished in Item 12 and the accompanying exhibit will not be incorporated by reference into any registration statement filed by EGL under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by EGL, that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of EGL or any of its affiliates. 2 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. Date: October 27, 2003 EGL, INC. By: /s/ Elijio V. Serrano ----------------------------- Elijio V. Serrano Chief Financial Officer 3 EX-99.1 3 e16026ex99_1.txt PRESS RELEASE Exhibit 99.1 EGL World Headquarters EAGLE GLOBAL LOGISTICS 15350 Vickery Drive Houston, TX 77032 Elijio Serrano Chief Financial Officer 281-618-3665 NEWS RELEASE ================================================================================ FOR IMMEDIATE RELEASE Monday, October 27, 2003 EGL, INC. REVISES EARNINGS GUIDANCE HOUSTON, October 27, 2003 - EGL, Inc. (NASDAQ: EAGL) announced that it expects to report fully diluted earnings per share for the third quarter of 2003 of $0.12, compared to earlier management guidance of $0.18 to $0.20. Diluted earnings per share for the third quarter of 2002 were $0.12. "Airline price increases out of Asia were not matched with corresponding increases to EGL's customers due to weak air freight demand, resulting in an impact to earnings per share of approximately $0.05." explained James R. Crane, Chairman and Chief Executive Officer. "This slow start to the normally seasonally strong August-September period offset continued improvements from North America volumes and improvements from the logistics projects in Europe. Additionally, a settlement with Kitty Hawk, Inc., a wholesale transportation provider, stemming from an August, 2001 dispute was resolved through arbitration during the quarter and unfavorably impacted our results by $2.3 million." Gross revenue for the third quarter of 2003 increased 15% from the third quarter of last year, while net revenue increased 7%. Net revenue margins deteriorated 110 basis points to 34.1% from the second quarter of this year and by 240 basis points from the third quarter of last year on the impact from the Asia pricing and the arbitration settlement. Earnings Conference Call EGL, Inc. plans to host a conference call for shareholders and the investing community on November 11, 2003 at 11 a.m. Eastern time (8 a.m. Pacific) to review results for the quarter ended September 30, 2003. The call can be accessed by dialing (719) 457-2662, access code 692215 and is expected to last approximately 60 minutes. Callers are requested to dial in at least 5 minutes before the start of the call. The call will also be available through live webcast on the company's website, www.eaglegl.com, on the Investor Relations page. An audio replay will be available until Tuesday, November 25, 2003 at (719) 457-0820, access code 692215. ---------- Houston-based EGL, Inc. operates under the name EGL Eagle Global Logistics. EGL is a leading global transportation, supply chain management and information services company dedicated to providing superior flexibility and fewer shipping restrictions on a price competitive basis. With 2002 revenues exceeding $1.86 billion, EGL's services include air and ocean freight forwarding, customs brokerage, local pickup and delivery service, materials management, warehousing, trade facilitation and procurement, and integrated logistics and supply chain management services. The Company's shares are traded on the NASDAQ National Market under the symbol "EAGL". ---------- ### CAUTIONARY STATEMENTS The statements in this press release (and statements in the conference call referred to above) regarding initiatives in North America, Asia and Europe, third quarter and total year results and diluted earnings per share, and other statements which are not historical facts, are forward looking statements. Such statements involve risks and uncertainties including, but not limited to, general economic conditions, the results of litigation, the timing and effects of any improvements in the regions and industry sectors in which the Company's customers operate, infrastructure improvements, ability to manage and continue growth, competition and other factors detailed in the Company's 2002 Form 10-K, proxy statement/prospectus and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize (or the consequences of such a development worsen), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. The Company disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise. -more- -----END PRIVACY-ENHANCED MESSAGE-----