-----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, QSuDvudYk29TRDZzi8rKOzo0SsABKc0+Q9z3z1yPwRmzQ/lPaDw/PHmAW5UQ4Aqa MkdhI28wGFLd1rZtLLHmkA== 0001104659-06-016935.txt : 20060315 0001104659-06-016935.hdr.sgml : 20060315 20060315170901 ACCESSION NUMBER: 0001104659-06-016935 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060208 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060315 DATE AS OF CHANGE: 20060315 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Intermec, Inc. CENTRAL INDEX KEY: 0001044590 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 954647021 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-13279 FILM NUMBER: 06688992 BUSINESS ADDRESS: STREET 1: 6001 36TH AVENUE WEST CITY: EVERETT STATE: WA ZIP: 98203-1264 BUSINESS PHONE: 425-265-2400 MAIL ADDRESS: STREET 1: 6001 36TH AVENUE WEST CITY: EVERETT STATE: WA ZIP: 98203-1264 FORMER COMPANY: FORMER CONFORMED NAME: UNOVA INC DATE OF NAME CHANGE: 19970815 8-K/A 1 a06-7045_18ka.htm AMENDMENT TO FORM 8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 


 

FORM 8-K/A

 

(Amendment No. 1)

 

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

 

Date of report (Date of earliest event reported):  February 8, 2006

 

Intermec, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-13279

 

95-4647021

(State or other jurisdiction
of incorporation)

 

(Commission file number)

 

(I.R.S. Employer
Identification Number)

 

 

 

 

 

6001 36th Avenue West
Everett, Washington
www.intermec.com

 

98203-1264

(Address of principal executive offices and internet site)

 

(Zip Code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 2.02               Results of Operations and Financial Conditions

 

Intermec, Inc. (the “Company”) is filing this amendment to its Current Report on Form 8-K dated February 8, 2006, to report adjustments to earnings from discontinued operations, net of tax, and net earnings for the fourth quarter and fiscal year ended December 31, 2005.

 

The press release issued by the Company on February 8, 2006, and attached as an exhibit to the Current Report on Form 8-K filed the same day reflects the Company’s former Industrial Automation Systems (“IAS”) business as discontinued operations. Based on the Company’s further analysis related to the sale during the fourth quarter of Landis Grinding Systems, which constituted a portion of the IAS business in 2005, the Company decreased the related gain on sale by approximately $2.9 million compared to the preliminary statements of operations included in the February 8, 2006 press release. This adjustment reduced earnings from discontinued operations, net of tax, by $0.04 per diluted share, to $0.45 and $0.34 per diluted share for the fourth quarter and fiscal year ended December 31, 2005, respectively. The adjustment also reduced earnings per share by $0.04 per diluted share, to $0.65 and $0.98 per diluted share for the fourth quarter and fiscal year ended December 31, 2005, respectively.

 

Certain other amounts have been reclassified in the revised consolidated balance sheets to conform with the 2005 presentation the Company expects to reflect in its 2005 consolidated financial statements to be filed with its annual report on Form 10-K.

 

Attached as Exhibit 99.1 are the Company’s revised preliminary Consolidated Statements of Operations for the three months and fiscal years ended December 31, 2005, and 2004, and the revised preliminary Consolidated Balance Sheets for the years ended December 31, 2005, and 2004. These financial statements are presented in formats consistent with those in the press release attached as an exhibit to the original Current Report on Form 8-K.

 

Item 9.01               Financial Statements and Exhibits.

 

(d)  Exhibits

 

The following exhibit is furnished as part of this report:

 

Exhibit

 

 

Number

 

Description

99.1

 

Revised Consolidated Statements of Operations (Preliminary) and Revised Consolidated Balance Sheets (Preliminary).

 

2



 

SIGNATURES

 

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.

 

 

 

Intermec, Inc.

 

(Registrant)

 

 

 

 

Date: March 15, 2006

By:

/s/

Janis L. Harwell

 

 

 

Janis L. Harwell

 

 

Senior Vice President, General

 

 

Counsel and Corporate

 

 

Secretary

 

3


EX-99.1 2 a06-7045_1ex99d1.htm EXHIBIT 99

Exhibit 99.1

 

INTERMEC, INC.

(Unaudited, amounts in thousands, except per share amounts)

 

 

 

Three Months Ended

 

Twelve Months Ended

 

 

 

December 31,

 

December 31,

 

December 31,

 

December 31,

 

 

 

2005

 

2004

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS (Preliminary)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Product

 

$

198,369

 

$

199,216

 

$

720,959

 

$

674,517

 

Service

 

43,345

 

37,703

 

154,523

 

136,800

 

Total Revenues

 

241,714

 

236,919

 

875,482

 

811,317

 

 

 

 

 

 

 

 

 

 

 

Costs and Expenses:

 

 

 

 

 

 

 

 

 

Cost of product revenues

 

118,952

 

115,790

 

420,707

 

384,609

 

Cost of service revenues

 

24,846

 

22,467

 

91,899

 

80,821

 

Selling, general and administrative

 

82,141

 

77,515

 

304,995

 

281,174

 

Total Costs and Expenses

 

225,939

 

215,772

 

817,601

 

746,604

 

Operating Profit From Continuing Operations

 

15,775

 

21,147

 

57,881

 

64,713

 

Interest, net

 

(115

)

(2,918

)

(4,026

)

(12,361

)

Foreign currency exchange, net

 

507

 

(763

)

670

 

(1,675

)

Earnings from Continuing Operations before Income Taxes

 

16,167

 

17,466

 

54,525

 

50,677

 

Provision (Benefit) for income taxes

 

4,057

 

(8,980

)

13,880

 

(1,504

)

Earnings from Continuing Operations

 

12,110

 

26,446

 

40,645

 

52,181

 

Earnings (Loss) from discontinued operations, net of tax

 

29,563

 

(97,663

)

21,147

 

(101,310

)

Net Earnings (Loss)

 

$

41,673

 

$

(71,217

)

$

61,792

 

$

(49,129

)

 

 

 

 

 

 

 

 

 

 

Basic Earnings (Loss) per Share

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.19

 

$

0.44

 

$

0.66

 

$

0.86

 

Discontinued operations

 

0.48

 

(1.61

)

0.34

 

(1.67

)

Net earnings (Loss) per share

 

$

0.67

 

$

(1.17

)

$

1.00

 

$

(0.81

)

 

 

 

 

 

 

 

 

 

 

Diluted Earnings (Loss) per Share

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.19

 

$

0.42

 

$

0.64

 

$

0.84

 

Discontinued operations

 

0.46

 

(1.56

)

0.34

 

(1.63

)

Net earnings (Loss) per share

 

$

0.65

 

$

(1.14

)

$

0.98

 

$

(0.79

)

 

 

 

 

 

 

 

 

 

 

Shares Used in Computing Earnings (Loss) per Share

 

 

 

 

 

 

 

 

 

Basic

 

62,629

 

60,780

 

61,785

 

60,502

 

Diluted

 

64,204

 

62,374

 

63,350

 

62,154

 

 



 

INTERMEC, INC.

CONSOLIDATED BALANCE SHEETS (Preliminary)

(Unaudited, amounts in thousands)

 

 

 

December 31,

 

December 31,

 

 

 

2005

 

2004

 

Assets

 

 

 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

Cash and cash equivalents

 

$

256,782

 

$

217,899

 

Restricted cash

 

 

50,000

 

Accounts receivable, net

 

180,985

 

157,833

 

Inventories

 

82,088

 

80,854

 

Net deferred tax assets

 

100,656

 

81,769

 

Assets held for sale

 

8,517

 

19,748

 

Current assets of discontinued operations

 

 

211,116

 

Other current assets

 

29,468

 

8,831

 

 

 

 

 

 

 

Total Current Assets

 

658,496

 

828,050

 

 

 

 

 

 

 

Property, Plant and Equipment, Net

 

30,820

 

30,375

 

 

 

 

 

 

 

Other Intangibles, Net

 

6,871

 

4,072

 

 

 

 

 

 

 

Net Deferred Tax Assets

 

137,578

 

134,978

 

 

 

 

 

 

 

Long Term Assets of Discontinued Operations

 

 

21,238

 

 

 

 

 

 

 

Other Assets

 

68,955

 

53,964

 

 

 

 

 

 

 

Total Assets

 

$

902,720

 

$

1,072,677

 

 

 

 

 

 

 

Liabilities and Shareholders’ Investment

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

Accounts payable and accrued expenses

 

$

148,731

 

$

128,630

 

Payroll and related expenses

 

31,011

 

30,077

 

Deferred revenue

 

38,369

 

31,371

 

Current portion of long-term debt

 

 

108,500

 

Current liabilities of discontinued operations

 

 

130,257

 

 

 

 

 

 

 

Total Current Liabilities

 

218,111

 

428,835

 

 

 

 

 

 

 

Deferred Revenue

 

20,095

 

2,730

 

 

 

 

 

 

 

Long-term Debt

 

100,000

 

100,000

 

 

 

 

 

 

 

Other Long-term Liabilities

 

88,711

 

86,220

 

 

 

 

 

 

 

Long-term Liabilities of Discontinued Operations

 

 

46,388

 

 

 

 

 

 

 

Shareholders’ Investment:

 

 

 

 

 

Common stock

 

627

 

611

 

Additional paid-in capital

 

736,224

 

703,416

 

Accumulated deficit

 

(244,903

)

(306,695

)

Accumulated other comprehensive income (loss)

 

(16,145

)

13,902

 

 

 

 

 

 

 

Total Shareholders’ Investment

 

475,803

 

411,234

 

 

 

 

 

 

 

Total Liabilities and Shareholders’ Investment

 

$

902,720

 

$

1,072,677

 

 


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