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): May 8, 2003

ARAMARK CORPORATION

(Exact name of registrant specified in charter)

Delaware	001-16807	23-3086414
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1101 Market Street Philadelphia, Pennsylvania	19107
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: 215-238-3000

(Former Name or Former Address, if Changed Since Last Report)

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits

(c) Exhibits – The following exhibits are furnished pursuant to the disclosure included under Item 9 and Item 12 of this Form 8-K.

99.1	Selected financial information reflecting ARAMARK’s Educational Resources segment as a discontinued operation.
99.2	Explanation of Revised Earnings Per Share Guidance.

Item 9. Regulation FD Disclosure (including information provided under Item 12, “Results of Operations and Financial              Condition”)

The following information is being furnished to the Commission under both Item 9 and Item 12. The information required by Item 12 is being furnished pursuant to this Item 9 in accordance with the interim filing guidance provided by the Securities and Exchange Commission in “Filing Guidance Related To: Conditions for Use of Non-GAAP Financial Measures; and Insider Trades During Pension Fund Blackout Periods” (Release No. 33-8216, March 27, 2003).

On March 4, 2003, ARAMARK Corporation (the “Company”) announced the signing of a definitive agreement to sell its Educational Resources segment. On May 8, 2003, the Company will post on the Investor Relations section of its website selected financial information reflecting the Educational Resources segment as a discontinued operation. A copy of the selected financial information is attached hereto as exhibit 99.1.

In addition, the following information is being provided under Item 9 only. On May 8, 2003, the Company issued a press release announcing its financial results for the quarter ended March 28, 2003 that contained updated earnings per share guidance for fiscal 2003. The Company will post to the Investor Relations section of its website the Explanation of Revised Earnings Per Share Guidance attached hereto as exhibit 99.2, which reconciles the Company’s current guidance to the Company’s previous guidance.

The information contained in this Current Report is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information contained in this Current Report shall not be incorporated by reference into any registration statement or other document or filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		ARAMARK CORPORATION
Date:	May 8, 2003	By:	/s/    L. FREDERICK SUTHERLAND
		Name:	L. Frederick Sutherland
		Title:	Executive Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Selected financial information reflecting ARAMARK’s Educational Resources segment as a discontinued operation.
99.2	Explanation of Revised Earnings Per Share Guidance.

EX-99.1

Exhibit 99.1

ARAMARK CORPORATION AND SUBSIDIARIES

DISCONTINUED OPERATIONS – RESTATEMENT OF HISTORICAL RESULTS OF OPERATIONS

(Unaudited)

(In Thousands, Except Per Share Amounts)

In the second quarter of fiscal 2003, ARAMARK executed a definitive agreement for the sale of ARAMARK Educational Resources (AER) to Knowledge Learning Corporation, Inc. for $225 million in cash and a note in the principal amount of $40 million, subject to a right of prepayment of $25 million within 12 months of closing. AER is accounted for as a discontinued operation in the accompanying financial schedules for all periods presented. The results of operations for each of the quarters in fiscal 2002, the full fiscal year 2002 and the first quarter of fiscal 2003 have been restated below to reflect this discontinued operations accounting treatment.

	Quarter Ended December 28, 2001		Quarter Ended March 29, 2002		Quarter Ended June 28, 2002		Quarter Ended September 27, 2002		Fiscal Year Ended September 27, 2002		Quarter Ended December 27, 2002
Sales from Continuing Operations	$	2,000,888	$	2,037,696	$	2,136,498	$	2,180,925	$	8,356,007	$	2,275,940
Operating Income	$	110,328	$	125,767	$	131,789	$	161,697	$	529,581	$	128,506
Income from Continuing Operations	$	46,906	$	58,101	$	65,273	$	81,040	$	251,320	$	58,416
Income from Discontinued Operations, net	$	4,537	$	6,270	$	7,299	$	486	$	18,592	$	4,283
Net Income	$	51,443	$	64,371	$	72,572	$	81,526	$	269,912	$	62,699
Diluted Earnings Per Share:
Income from continuing operations	$	0.25	$	0.28	$	0.32	$	0.40	$	1.25	$	0.29
Net income	$	0.27	$	0.31	$	0.35	$	0.40	$	1.34	$	0.31
Diluted Share Base		187,717		209,223		204,684		201,684		200,924		199,177

EX-99.2

Exhibit 99.2

ARAMARK CORPORATION AND SUBSIDIARIES

EXPLANATION OF REVISED EARNINGS PER SHARE GUIDANCE

MAY 8, 2003

(Unaudited)

	Fiscal 2003 Per Share Amounts
	Low			High
Original management guidance provided on November 13, 2002—Net income per diluted share	$	1.33		$	1.38
Estimated effect of Fine Host Corporation acquisition		(0.01	)		(0.01	)
Earnings per share from discontinued operations—ARAMARK Educational Resources		(0.06	)		(0.06	)
Reduction in management earnings per share estimate resulting from weaker economic conditions. Last year, when we provided our original annual guidance, we anticipated an improvement in the economic environment in the second half of our fiscal year. As of today, we are not seeing any meaningful recovery in the economy or employment levels.		(0.02	)		(0.03	)
Revised management guidance as of May 8, 2003—Income per diluted share from continuing operations	$	1.24		$	1.28

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements that reflect our current views as to future events and financial performance with respect to our operations. These statements can be identified by the fact that they do not relate strictly to historical or current facts.

They use words such as “aim,” “anticipate,” “estimate,” “expect,” “will be,” “will continue,” “will likely result,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance.

Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond our control) that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements.

The forward-looking statements regarding such matters are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.

Factors that might cause such a difference include: unfavorable economic conditions, including ramifications of any future terrorist attacks; increased operating costs; shortages of qualified personnel; currency risks and other risks associated with international markets; risks associated with acquisitions, including acquisition integration costs; our ability to integrate and derive the expected benefits from recent acquisitions including our acquisition of ServiceMaster Management Services; competition; decline in attendance at client facilities; unpredictability of sales and expenses due to contract terms and terminations; high leverage; claims relating to the provision of food services; costs of compliance with governmental regulations; liability associated with non-compliance with governmental regulations, including regulations pertaining to food services, the environment and childcare service; seasonality; adverse publicity concerning incidents at childcare centers; and levels of enrollment in our education business.

For further information regarding risks and uncertainties associated with ARAMARK’s business, please refer to the “Management’s Discussion and Analysis of Results of Operations and Financial Condition” and “Risk Factors” sections of ARAMARK’s SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting ARAMARK’s investor relations department at www.aramark.com.

Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us.