-----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, GY4pwBtGhNZ44YKVEnSLKuitcvABkpB9+vkn8brdfVn6cmkMPlZhXjgHZQNwcnC0 qbuEQDnBK0Sour9UwA+26Q== 0001157523-05-001395.txt : 20050214 0001157523-05-001395.hdr.sgml : 20050214 20050214092229 ACCESSION NUMBER: 0001157523-05-001395 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050214 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050214 DATE AS OF CHANGE: 20050214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRS TECHNOLOGIES INC CENTRAL INDEX KEY: 0000028630 STANDARD INDUSTRIAL CLASSIFICATION: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812] IRS NUMBER: 132632319 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08533 FILM NUMBER: 05603000 BUSINESS ADDRESS: STREET 1: 3RD FLOOR STREET 2: 5 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 9738981500 MAIL ADDRESS: STREET 1: 3RD FLOOR STREET 2: 5 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 FORMER COMPANY: FORMER CONFORMED NAME: DIAGNOSTIC RETRIEVAL SYSTEMS INC DATE OF NAME CHANGE: 19920703 8-K 1 a4821349.txt DRS TECHNOLOGIES 8K UNITED STATES 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): February 14, 2005 (February 14, 2005) DRS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 1-08533 13-2632319 (State or other jurisdiction of (Commission (IRS Employer incorporation or organization) File Number) Identification Number) 5 Sylvan Way, Parsippany, New Jersey 07054 (Address of principal executive offices) (973) 898-1500 (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: [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] 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 CONDITION ITEM 7.01. REGULATION FD DISCLOSURE On February 14, 2005, DRS Technologies, Inc. (the Company) presented Restated Selected Consolidated Statements of Earnings Data for Previous Quarters (Unaudited) and Restated Segment Results for Previous Quarters (Unaudited) for the three-month periods ended March 31, 2004, June 30, 2004 and September 30, 2004 to reflect DRS Broadcast Technology and DRS Weather Systems, Inc. as discontinued operations, as a result of the Company's decision in the third quarter of fiscal 2005 to sell these operating units, and to reflect the July 2004 transfer of DRS Data & Imaging Systems Ltd. from the Company's Surveillance & Reconnaissance Group to the Company's C4I Group. A copy of the Restated Selected Consolidated Statements of Earnings Data for Previous Quarters (Unaudited) and Restated Segment Results for Previous Quarters (Unaudited) is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information being furnished in this Current Report on Form 8-K (including the exhibits hereto) shall not be considered "filed" under the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits The following is included as an exhibit to this report: Exhibit No. Description ----------- ----------- 99.1 DRS Technologies, Inc. Restated Selected Consolidated Statements of Earnings Data for Previous Quarters (Unaudited) and Restated Segment Results for Previous Quarters (Unaudited) dated February 14, 2005. DRS TECHNOLOGIES, INC. 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. DRS TECHNOLOGIES, INC. ---------------------- (Registrant) Date: February 14, 2005 By: /s/ RICHARD A. SCHNEIDER ------------------------ Richard A. Schneider Executive Vice President, Chief Financial Officer INDEX TO EXHIBITS Exhibit No. Description - ----------- ----------- 99.1 DRS Technologies, Inc. Restated Selected Consolidated Statements of Earnings Data for Previous Quarters (Unaudited) and Restated Segment Results for Previous Quarters (Unaudited) dated February 14, 2005. EX-99.1 2 a4821349ex991.txt EXHIBIT 99.1
DRS TECHNOLOGIES, INC. AND SUBSIDIARIES RESTATED SELECTED CONSOLIDATED STATEMENTS OF EARNINGS DATA FOR PREVIOUS QUARTERS (UNAUDITED) (Millions Except Earnings per Share) Three Months Ended ------------------ March 31, 2004(1) June 30, 2004(1) September 30, 2004(1) -------------- -------------- ------------------ Revenues $ 339.1 $ 291.2 $ 318.1 Operating Income $ 37.9 $ 28.5 $ 33.8 Earnings from Continuing Operations $ 15.5 $ 11.0 $ 14.0 Earnings from Discontinued Operations, Net of Tax $ .8 $ .8 $ .4 Net Earnings $ 16.3 $ 11.8 $ 14.4 Basic Earnings per Share: Earnings from Continuing Operations $ .58 $ .41 $ .52 Earnings from Discontinued Operations, Net of Tax $ .03 $ .03 $ .01 Net Earnings $ .61 $ .44 $ .53 Diluted Earnings per Share: Earnings from Continuing Operations $ .57 $ .40 $ .50 Earnings from Discontinued Operations, Net of Tax $ .03 $ .03 $ .01 Net Earnings $ .60 $ .43 $ .52 1 Fiscal 2004 fourth quarter results and fiscal 2005 first and second quarter results are adjusted to reflect discontinued operations, due to the Company's decision to sell its DRS Broadcast Technology and DRS Weather Systems, Inc. units in the third quarter of fiscal 2005.
DRS TECHNOLOGIES, INC. AND SUBSIDIARIES RESTATED SEGMENT RESULTS FOR PREVIOUS QUARTERS (UNAUDITED) ($ Millions) Three Months Ended ------------------ March 31, 2004 (1),(2) June 30, 2004(1),(2) September 30, 2004(1) -------------- ------------- ------------------ Revenues C4I Group $ 172.1 $ 158.6 $ 168.1 Surveillance & Reconnaissance Group 167.0 132.6 150.0 Other - - - - ------------------------------------------------------------------------------------------------- Consolidated $ 339.1 $ 291.2 $ 318.1 - ------------------------------------------------------------------------------------------------- Operating Income C4I Group $ 20.0 $ 15.1 $ 17.5 Surveillance & Reconnaissance Group 17.8 13.4 16.3 Other .1 - - - ------------------------------------------------------------------------------------------------ Consolidated $ 37.9 $ 28.5 $ 33.8 - ------------------------------------------------------------------------------------------------ Operating Margin C4I Group 11.6% 9.5% 10.4% Surveillance & Reconnaissance Group 10.7% 10.1% 10.9% Other - - - Consolidated 11.2% 9.8% 10.6% - ------------------------------------------------------------------------------------------------ Bookings C4I Group $ 147.8 $ 148.8 $ 178.1 Surveillance & Reconnaissance Group 137.5 194.5 157.6 Other - - - - ------------------------------------------------------------------------------------------------ Consolidated $ 285.3 $ 343.3 $ 335.7 - ------------------------------------------------------------------------------------------------ Backlog C4I Group $ 634.2 $ 631.8 $ 657.5 Surveillance & Reconnaissance Group 576.2 636.8 641.5 Other - - - - ------------------------------------------------------------------------------------------------ Consolidated $ 1,210.4 $ 1,268.6 $ 1,299.0 - ------------------------------------------------------------------------------------------------ 1 Fiscal 2004 fourth quarter results and fiscal 2005 first and second quarter results are adjusted to reflect discontinued operations, due to the Company's decision to sell its DRS Broadcast Technology and DRS Weather Systems, Inc. units in the third quarter of fiscal 2005. 2 Fiscal 2004 fourth quarter results and fiscal 2005 first quarter results are adjusted to reflect the transfer in July 2004 of the Company's DRS Data & Imaging Systems Ltd. unit from the Company's Surveillance & Reconnaissance Group to the Company's C4I Group.
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