-----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, MzIA4Ey2BHkYMMP7urVMvGiKzX2Mv3wTjZtGYAseqKbppELe/QjThqAx69XyJlJ9 eBbdrDgE0hmi0TqIN43j8A== 0001144204-08-000663.txt : 20080104 0001144204-08-000663.hdr.sgml : 20080104 20080104134633 ACCESSION NUMBER: 0001144204-08-000663 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080103 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080104 DATE AS OF CHANGE: 20080104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MODTECH HOLDINGS INC CENTRAL INDEX KEY: 0001075066 STANDARD INDUSTRIAL CLASSIFICATION: PREFABRICATED WOOD BLDGS & COMPONENTS [2452] IRS NUMBER: 330825386 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25161 FILM NUMBER: 08510605 BUSINESS ADDRESS: STREET 1: 2830 BARRETT AVE STREET 2: PO BOX 1240 CITY: PERRIS STATE: CA ZIP: 92571 BUSINESS PHONE: 9099434014 MAIL ADDRESS: STREET 1: 4675 MACARTHUR CT., STREET 2: SUITE 710 CITY: NEWPORT STATE: CA ZIP: 92660 8-K 1 v098861_8-k.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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 (Date of earliest event reported): January 3, 2008

Modtech Holdings, Inc.
(Exact Name of Registrant as Specified in Its Charter)

Delaware
(State or Other Jurisdiction of Incorporation)

000-25161
33-0825386
(Commission File Number)
(IRS Employer Identification No.)


2830 Barrett Avenue, Perris, CA
92571
(Address of Principal Executive Offices)
(Zip Code)

(951) 943-4014
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

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 8.01 Other Events.

On January 3, 2008, Modtech Holdings, Inc. issued a press release reporting that it had bookings of over $50 million for the quarter ended December 31, 2007. This was the highest level of quarterly bookings for the company in the last two years.

The press release also reported that Modtech had entered a multi-year manufacturing agreement with LivingHomes, LLC to produce steel-framed modular single-family homes.

A copy of the press release is attached to this report.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits
 
99.1 Press Release dated January 3, 2008


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 thereunto duly authorized.

Date: January 3, 2008
     
  Modtech Holdings, Inc.  
 
 
 
 
 
 
  by:   /s/ Kenneth S. Cragun
  Kenneth S. Cragun
 
Chief Financial Officer


EX-99.1 2 v098861_ex99-1.htm


Dennis Shogren
 
Ken Cragun
Phil Bourdillon/Gene Heller
Chief Executive Officer
 
Chief Financial Officer
Silverman Heller Associates
(951) 943-8800
 
(951) 943-8889
(310) 208-2550


MODTECH HOLDINGS, INC.
ANNOUNCES TEAMING AGREEMENT WITH LIVINGHOMES, LLC


Perris, Calif.—January 3, 2008—Modtech Holdings, Inc. (Nasdaq: MODT) announced a multi-year agreement with LivingHomes, LLC (“LivingHomes”) under which Modtech Holdings Inc. (“Modtech”) will be the exclusive manufacturer of LivingHomes' Ray Kappe-designed steel-framed modular single-family homes in markets served jointly by the two companies.

Modtech President and Chief Executive Officer Dennis Shogren commented: “We are excited to partner with LivingHomes and to build on the success of our first project together, which was completed last November. We are already under way on the next project, with several more in the early stages of design and approval. In addition to the substantial business opportunity this product line represents over the next several years, it’s just plain fun to look at a completed Ray Kappe-designed home and say 'Modtech built that!'”

“We look forward to working with Modtech on our Ray Kappe-designed homes,” said LivingHomes Founder and CEO Steve Glenn. “By partnering exclusively with a manufacturer of Modtech’s caliber, we will be able to reduce our costs and delivery schedules and increase our national reach.”

Shogren continued, “The agreement with LivingHomes capped a very good fourth-quarter bookings effort. At over $50 million in bookings, this was the highest level of quarterly bookings in the last two years. Even more gratifying than the turnaround in our bookings trend is the fact that more than half of the bookings came from new products introduced over the past 15 months. Bookings for the quarter included new products for the military, our recently introduced BlockHead and GLO product lines, and our niche residential products, which demonstrate that our strategy of diversifying our product offerings is beginning to take hold and will serve us well in the future.

“Our excitement over the increased bookings is tempered by the realization that a turnaround in financial results can be expected to lag the turnaround in bookings by one to two quarters. We continue to carefully manage our costs and look forward to a return to profitability as we begin construction supported by the growing backlog.”

About Modtech Holdings, Inc.
Modtech® is a leading national designer and manufacturer of modular buildings, both permanent and relocatable. In the school industry, the Company has advanced typical modular building technology to greater dimensions of flexibility and architectural integrity. Modtech® has substantial product and geographic diversification throughout the southwestern states and Florida. Modtech’s commercial and industrial buildings are sold to a diverse end-user market and may be leased through national, regional, and local dealers. The Company also designs and manufactures modular buildings to customer specifications for a wide variety of uses. Additional information is available at www.modtech.com.

About LivingHomes®
Founded by CEO Steve Glenn, LivingHomes (www.livinghomes.net) is a premier developer of modern, prefab homes that combine world-class architecture with an unparalleled commitment to health and sustainable construction. All LivingHomes products are designed to achieve at least a LEED for Homes “Silver” accreditation and incorporate an environmental program that is among the most comprehensive of any production home. The model home was the first home to achieve LEED Platinum and was the only residence to be awarded the AIA’s 2007 Top Ten Sustainability Award. Designed by renowned architects and constructed using natural and non-toxic materials and systems, LivingHomes successfully marries style and substance.


Forward-looking Statements:
Some statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Refer to the Company’s filings with the U.S. Securities and Exchange Commission for further discussion of such factors. The forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update such statements.


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