-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, o11++JaJ+y2QEz4Zkv8OY69XI1pLRlq5MKSWToTOEOc5xyx2QyHyp5HAnU6IA0z3 HdA4IWCswmy2d7D2tz1i1Q== 0000109471-95-000004.txt : 19950901 0000109471-95-000004.hdr.sgml : 19950901 ACCESSION NUMBER: 0000109471-95-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950821 ITEM INFORMATION: Changes in registrant's certifying accountant FILED AS OF DATE: 19950822 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: AEROSONIC CORP /DE/ CENTRAL INDEX KEY: 0000109471 STANDARD INDUSTRIAL CLASSIFICATION: 3812 IRS NUMBER: 741668471 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11750 FILM NUMBER: 95565713 BUSINESS ADDRESS: STREET 1: 1212 N HERCULES AVE CITY: CLEARWATER STATE: FL ZIP: 34625 BUSINESS PHONE: 8134613000 8-K 1 CHANGES IN REGISTRANTS ACCOUNTANT 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT FILED PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of Earliest Event Reported): August 16, 1995 COMMISSION FILE NO. 0-4988 AEROSONIC CORPORATION ----------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 74-1668471 ------------------------------- ------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1212 No. Hercules Avenue, Clearwater, Florida 34625 ------------------------------------------- --------- (Address of principal executive offices) (Zip Code) (813) 461-3000 ------------------------------------------------------- (Registrants telephone number, including Area Code) 2 Item 4. Changes in Registrant's Accountant. Aidman, Piser & Company, was previously the principal accountants for Aerosonic Corporation. On August 16, 1995, that firm's appointment as principal accountants was terminated. Additionally, on August 16, 1995, Coopers & Lybrand L.L.P. was engaged as principal accountants. The decision to change accountants was approved by the Audit Committee of the Board of Directors. In connection with the audits of the two fiscal years ended January 31, 1995 the Aidman, Piser & Company P.A. reports, and the KPMG Peat Marwick's reports, contained no adverse opinion or disclaimer of opinion, respectively, nor were they modified or qualified as to uncertainty, audit scope,or accounting principles. The report of Aidman, Piser & Company, P.A. on the financial statements of the Company as of the year ended January 31, 1995 reported uncertainty as to the outcome and financial impact of the patent infringement law suit. In connection with the audits of the two fiscal years ended January 31, 1995 and the subsequent interim period through August 16, 1995, there were no disagreements with Aidman, Piser & Company, P.A. or KPMG Peat Marwick on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements if not resolved to their satisfaction would have caused them to make reference in connection with that opinion to the subject matter of the disagreement. 3 EXHIBITS Exhibit No. Description - - ----------- -------------------------------- A The auditors' report on the financial statements of Aerosonic for the years ended January 31, 1995 performed by Aidman, Piser & Company, P.A.. B. The auditors' report on the financial statements of Aerosonic for the years ended January 31,1995 performed by KPMG Peat Marwick. C. Exhibit 16 - Letter dated August 18, 1995, from Aidman, Piser & Company, P.A., the former independent certified public accountant for the Company. 4 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 therento duly authorized. AEROSONIC CORPORATION (Registrant) Date: August 21, 1995 /s/ David S. Goldman ------------------- David S. Goldman Chief Financial Officer EX-16 2 CHANGE OF ACCOUNTANTS 1 Independent Auditors' Report Board of Directors Aerosonic Corporation Clearwater, Florida We have audited the accompanying consolidated balance sheet of Aerosonic Corporation and subsidiary as of January 31, 1995, and the related consolidated statements of income (loss), shareholders' equity and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit 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 audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Aerosonic Corporation and subsidiary as of January 31, 1995, and the results of their operations and their cash flows for the year then ended, in conformity with generally accepted accounting principles. In connection with our audit of the financial statements referred to above, we audited the 1995 financial statement schedule listed under Item 14. In our opinion this financial statement schedule presents fairly, in all material respects, the information stated therein, when considered in relation to the financial statements taken as a whole. As discussed in Note 11 to the financial statements, the Company was a defendant in a lawsuit alleging infringement of certain patent rights. During the year ended January 31, 1995, an $815,000 judgment (plus costs and post-judgment interest) was entered against the Company on this matter. The Company has recorded the basic $815,000 judgment as a liability at January 31, 1995. The Company has filed an appeal of the decision and the plaintiff has filed a cross-appeal. The ultimate outcome of the appeal process cannot presently be determined. Accordingly, no further provision for any liability that may result upon adjudication has been made in the accompanying financial statements. /S/Aidman, Piser & Company, P.A. - - ---------------------------- AIDMAN, PISER & COMPANY, P.A. Tampa, Florida April 24, 1995 2 Independent Auditors' Report The Board of Directors and Shareholders Aerosonic Corporation: We have audited the accompanying 1994 and 1993 consolidated financial statements of Aerosonic Corporation and subsidiary as listed in the accompanying index. In connection with our audits of the 1994 and 1993 consolidated financial statements, we have also audited the 1994 and 1993 financial statement schedule as listed in the accompanying index. These consolidated financial statements and financial statement schedule are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements and financial statement schedule 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 1994 and 1993 consolidated financial statements referred to above present fairly, in all material respects, the financial position of Aerosonic Corporation and subsidiary as of January 31, 1994 and the results of their operations and their cash flows for the two-year period ended January 31, 1994, in conformity with generally accepted accounting principles. Also in our opinion, the related 1994 and 1993 financial statement schedule, when considered in relation to the basic 1994 and 1993 consolidated financial statements taken as a whole, presents fairly in all material respects, the information set forth therein. As discussed in notes 1 and 4 to the consolidated financial statements, the Company changed its method of accounting for income taxes during the year ended January 31, 1993 to adopt the provisions of the Financial Accounting Standards Board's Statement of Financial Accounting Standards No. 109, "Accounting for Income Taxes." /s/ KPMG PEAT MARWICK LLP - - -------------------- KPMG PEAT MARWICK LLP April 8, 1994 (except note 14 which is as of April 12, 1994) St. Petersburg, Florida F-3 3 AIDMAN, PISER & COMPANY, PA. August 21, 1995 Securities and Exchange Commission Washington, D.C. 20549 Gentlemen: We were previously principal accountants of Aerosonic Corporation and under the date of April 24, 1995 we reported on the financial statements of Aerosonic Corporation as of and for the year ended January 31, 1995. On August 16, 1995 our apppointment as principal accountants was terminated. We have read Aerosonic Corporation's statements included under Item 4 of its Form 8-K dated August 21, 1995 and we agree with such statements. Very truly yours, /s/ Aidman, Piser & Company, P.A. - - ----------------------------- Aidman, Piser & Company, P.A. -----END PRIVACY-ENHANCED MESSAGE-----