-----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, JB/OsZzLPEGFQJDHUo1HoZXt4axS8NPPxN8Xx1wCpyclIZL7cX27/eG5lTyf9HTK tiGKWTeD6LnOdIEDa3Vy9w== 0000950144-98-000670.txt : 19980129 0000950144-98-000670.hdr.sgml : 19980129 ACCESSION NUMBER: 0000950144-98-000670 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980128 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980128 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: WACKENHUT CORP CENTRAL INDEX KEY: 0000104030 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-DETECTIVE, GUARD & ARMORED CAR SERVICES [7381] IRS NUMBER: 590857245 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05450 FILM NUMBER: 98515219 BUSINESS ADDRESS: STREET 1: 4200 WACKENHUT DRIVE STREET 2: #100 CITY: PALM BEACH GARDEN STATE: FL ZIP: 33410 BUSINESS PHONE: 5616225656 MAIL ADDRESS: STREET 1: 4200 WACKENHUT DR STREET 2: #100 CITY: PALM BEACH GARDEN STATE: FL ZIP: 33410 8-K 1 WACKENHUT CORPORATION FORM 8-K 01/28/98 1 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) - January 28, 1998 THE WACKENHUT CORPORATION ------------------------- (Exact Name of Registrant as Specified in Charter) Florida 1-5450 59-0857245 ------- ------ ---------- (State or Other Jurisdiction (Commission (IRS Employer of of Incorporation) File Number) Identification No.) 4200 Wackenhut Drive #100, Palm Beach Gardens, FL 33410-4243 - ------------------------------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) (Registrant's Telephone Number, Including Area Code) (561) 622-5656 - --------------------------------------------------------------------- Not Applicable - -------------------------------------------------------------------------------- (Former Name or Former Address; if Changed Since Last Report) Page 1 of ___ pages. Exhibit Index at Page ___. 2 Item 5. Other Events. This Current Report on Form 8-K is for the purpose of filing the press release, dated January 28, 1998, which is set forth in Exhibit 99 hereto. Item 7. Financial Statement and Exhibits (c) Exhibits.
Sequential Exhibit No. Description Page Number ----------- ----------- ----------- 99 Press Release dated January 28, 1998
2 3 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. THE WACKENHUT CORPORATION January 28, 1998 By: /s/ Philip L. Maslowe ------------------------------- Philip L. Maslowe Senior Vice President, Finance and Chief Financial Officer 3 EX-99 2 PRESS RELEASE 1 EXHIBIT 99 WACKENHUT NEWS RELEASE WR-98-02 FOR IMMEDIATE RELEASE WACKENHUT SELLS SUBSIDIARY, TAKES ONE-TIME CHARGE, EXPECTS STRONG 1998 PERFORMANCE PALM BEACH GARDENS, FL, January 28, 1998 -- The Wackenhut Corporation (NYSE: WAK, WAKB) announced today it will take a pretax charge of $18.3 million against 1997 earnings. After tax, the one-time charge will reduce net income by $11.3 million. The company's Australian security subsidiary has been sold, resulting in $6 million ($3.8 million after tax) of the charge. The remainder is the result of the write down of deferred costs of information systems and other investments. Earnings results for 1997 will be announced in mid-February. "While the impact on 1997 net income is substantial, we do not expect that these one-time charges will result in any additional cash requirements," said Richard R. Wackenhut, president and chief operating officer. "This move positions Wackenhut for a very strong performance in 1998. Our operating earnings were at record levels in 1997 and by exiting the Australian security market and writing off these non-performing investments, 1998 promises to be a very good year for the company's earnings." The company acquired Wackenhut Australia in September 1995 for approximately $3 million. The Australian subsidiary provided security-related services to business and government. In 1996 the subsidiary recorded an operating loss of $2.3 million; in 1997 it had an operating loss of $1.7 million. The Wackenhut Corporation is a worldwide provider of security-related and diversified human resources services to business, industry and government agencies. With operations throughout the United States and over 50 countries on six continents, it is a leader in the privatization of public services for municipal, state and federal agencies, and also serves a wide range of industrial and commercial customers. This press release contains forward-looking statements regarding future events and future performance of the company that involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the company files from time to time with the Securities and Exchange Commission for a description of certain factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release. Such filings include, without limitation, the company's Form 10-K, Form 10-Q and Form 8-K reports. - ------------------------------------------------------------------------------- Contact: Robert Harwood, Investor/Public relations - (561) 691-6698 www.wackenhut.com -----END PRIVACY-ENHANCED MESSAGE-----