-----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, RSKdAFlUEc4gF9Rd2ZoQWrFJkov+u9h+bXgpv9S7FyrhBYvtsolALuwrrajbcRQv Yd1rvQZXFBeYhG5QJXH7ew== /in/edgar/work/20000831/0000912057-00-039834/0000912057-00-039834.txt : 20000922 0000912057-00-039834.hdr.sgml : 20000922 ACCESSION NUMBER: 0000912057-00-039834 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20000831 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000831 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEI INC CENTRAL INDEX KEY: 0000351298 STANDARD INDUSTRIAL CLASSIFICATION: [3674 ] IRS NUMBER: 410944876 STATE OF INCORPORATION: MN FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-10078 FILM NUMBER: 715074 BUSINESS ADDRESS: STREET 1: 1495 STEIGER LAKE LN STREET 2: P O BOX 5000 CITY: VICTORIA STATE: MN ZIP: 55386 BUSINESS PHONE: 6124432500 MAIL ADDRESS: STREET 1: P O BOX 5000 STREET 2: 1495 STEIGER LAKE LANE CITY: VICTORIA STATE: MN ZIP: 55386 8-K 1 a2024835z8-k.txt 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): AUGUST 31, 2000 HEI, INC. --------- (Exact Name of Registrant as Specified in Its Charter) MINNESOTA --------- (State or Other Jurisdiction of Incorporation) 0-10078 41-0944876 ------- ---------- (Commission File Number) (IRS Employer Identification No.) 1495 STEIGER LAKE LANE, VICTORIA, MINNESOTA 55386 - ------------------------------------------- ----- (Address of Principal Executive Offices) (Zip Code) 952-443-2500 ------------ (Registrant's Telephone Number, Including Area Code) N/A --- (Former Name or Former Address, if Changed Since Last Report) ITEM 5. OTHER EVENTS. HEI, Inc. issued a press release regarding a new fiber optics supply agreement with a customer of the Company. The text of the press release is attached hereto as Exhibit 99.1. HEI, Inc. issued a press release regarding a line of credit worth 13.5 million with LaSalle Business Credit, Inc. and a projection of annual revenue growth rate of 50% for fiscal year 2001. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits: 99.1 Press release, dated August 24, 2000. 99.2 Press release, dated August 31, 2000. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized. Dated: August 31, 2000 HEI, INC. By /s/ Anthony J. Fant -------------------------------- Anthony J. Fant Chairman and Chief Executive Officer 3 INDEX TO EXHIBITS EXHIBIT NO. DESCRIPTION - ----------- ----------- 99.1 Press release, dated August 24, 2000. 99.2 Press release, dated August 31, 2000. 4 EX-99.1 2 a2024835zex-99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 NEWS RELEASE [LOGO] P. O. Box 5000 Victoria, Minnesota 55386 USA 952-443-2500 CONTACTS: FOR IMMEDIATE RELEASE Anthony J. Fant, CEO Donald R. Reynolds, President/COO Steve E. Tondera, CFO HEI ANNOUNCES SIGNIFICANT FIBER OPTICS SUPPLY AGREEMENT MINNEAPOLIS, August 24, 2000 -- HEI, Inc. (Nasdaq: HEII, www.heii.com) announced today that it has received its first production order for performing alignment of fiber optic devices. This order from a major multinational customer begins immediately and should exceed $3,000,000 over the next several quarters. Fiber alignment is one of the key operations in the production of fiber optic assemblies used in applications such as high-speed internet routing and data communications. "We expect the tremendous growth in the multi-billion dollar fiber optics market to continue well into the future and this is the kind of market in which we are seeking new opportunities. We are excited to have taken this step in executing our technology plan to become a full service provider of optical components and modules to optical system vendors. HEI should be building complete fiber optic devices within the upcoming year and we expect our overall fiber optic business to grow to $10,000,000 in our fiscal year beginning September 1, 2000," said Anthony Fant, Chairman and Chief Executive Officer of HEI, Inc. - -------------------------------------------------------------------------------- HEI, Inc., and Cross Technology, Inc., a wholly owned subsidiary of HEI, Inc., specialize in the custom design and manufacture of high performance, ultraminiature microelectronic devices and high-technology products incorporating those devices. HEI and Cross contribute to their customers' competitiveness in the hearing, medical, communications, wireless smart cards, other RF applications, and industrial markets through innovative design solutions and by the application of state-of-the art materials, processes and manufacturing capabilities. World Headquarters and Microelectronics Division PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386 Mexico Division, Customer Service Center 1 Offshore International, 777 East MacArthur Circle, Tucson, AZ 85714 High Density Interconnect Division 610 South Rockford Drive, Tempe, AZ 85281 Cross Technology, Inc. 5201 Eden Circle, Edina, MN 55436
- -------------------------------------------------------------------------------- FORWARD LOOKING INFORMATION INFORMATION IN THIS NEWS RELEASE, WHICH IS NOT HISTORICAL, INCLUDES FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. STATEMENTS CONTAINED IN THIS PRESS RELEASE REGARDING PROFITABILITY OF THE COMPANY, BENEFITS IN FY2000 RESULTING FROM THE COMPANY'S INVESTMENTS, AND THE ESTIMATED REVENUE GROWTH RATES AND PROFITABILITY ARE FORWARD LOOKING STATEMENTS. ALL OF SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES INCLUDING, WITHOUT LIMITATION, ADVERSE BUSINESS OR MARKET CONDITIONS, THE ABILITY OF HEI TO SECURE AND SATISFY CUSTOMERS, THE AVAILABILITY AND COST OF MATERIALS FROM HEI'S SUPPLIERS, ADVERSE COMPETITIVE DEVELOPMENTS, CHANGE IN OR CANCELLATION OF CUSTOMER REQUIREMENTS, AND OTHER RISKS DETAILED FROM TIME TO TIME IN HEI'S SEC FILINGS. EX-99.2 3 a2024835zex-99_2.txt EXHIBIT 99.2 EXHIBIT 99.2 NEWS RELEASE [LOGO] P. O. Box 5000 Victoria, Minnesota 55386 USA 952-443-2500 CONTACTS: FOR IMMEDIATE RELEASE Anthony J. Fant, CEO Donald R. Reynolds, President/COO Steve E. Tondera, CFO HEI PROJECTS ANNUAL REVENUE GROWTH RATE OF 50% FOR FISCAL YEAR 2001 HEI SECURES $13.5 MILLION LINE OF CREDIT TO SUPPORT EXPECTED GROWTH MINNEAPOLIS, August 31, 2000 -- HEI, Inc. (Nasdaq: HEII, www.heii.com) announced today that it has recently completed a $13.5 million, three-year line of credit agreement with LaSalle Business Credit, Inc. LaSalle is part of the Netherlands-based ABN AMRO Bank N.V., one of the world's ten largest banks with assets of $460 billion. HEI will use this capital to fund its aggressive growth as it expands its technology and product lines worldwide. "We are achieving considerable growth in the medical and hearing markets fueled by our leading edge, laminate technology. In addition, we expect revenues in the fiber optic, wireless and radio frequency identification (RFID) markets to nearly double in fiscal year 2001 as compared to fiscal year 2000, due in part to our new high frequency, chip carrier technology and enhanced manufacturing capabilities. We believe that HEI has invested in the right technologies at the right time to attract new customers in these exciting markets," said Don Reynolds, President and Chief Operating Officer of HEI, Inc. "This credit line will give HEI increased financial strength to develop new product lines and diversify into new markets," remarked Anthony Fant, Chairman of HEI, Inc. "We are excited to have this banking relationship with such a strong financial institution. This financial backing and HEI's commitment to aggressive growth and investment in target markets will strengthen our position as a technology leader and support continued growth. Based on existing and identified customers we expect our annual growth rate to exceed 50% in the coming fiscal year which begins September 1st", he added. "LaSalle is proud to finance an industry leader like HEI by providing a revolving line of credit to support HEI's current and future working capital needs. We look forward to working with them as they continue to grow their business over the years," said Kurts Strelnieks, Vice President, LaSalle Business Credit, Inc. - -------------------------------------------------------------------------------- HEI, Inc., and Cross Technology, Inc., a wholly owned subsidiary of HEI, Inc., specialize in the custom design and manufacture of high performance, ultraminiature microelectronic devices and high-technology products incorporating those devices. HEI and Cross contribute to their customers' competitiveness in the hearing, medical, communications, wireless smart cards, other RF applications, and industrial markets through innovative design solutions and by the application of state-of-the art materials, processes and manufacturing capabilities. World Headquarters and Microelectronics Division PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386 Mexico Division, Customer Service Center 1 Offshore International, 777 East MacArthur Circle, Tucson, AZ 85714 High Density Interconnect Division 610 South Rockford Drive, Tempe, AZ 85281 Cross Technology, Inc. 1546 Lake Drive West, Chanhassen, MN 55317
- -------------------------------------------------------------------------------- FORWARD LOOKING INFORMATION INFORMATION IN THIS NEWS RELEASE, WHICH IS NOT HISTORICAL, INCLUDES FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. STATEMENTS CONTAINED IN THIS PRESS RELEASE, INCLUDING BENEFITS IN FY2001 FROM THE COMPANY'S INVESTMENTS, THE IMPORTANCE OF SPECIFIC TECHNOLOGIES WITHIN SPECIFIC MARKETS, AND THE ESTIMATED REVENUE GROWTH AND GROWTH RATES ARE FORWARD LOOKING STATEMENTS. ALL OF SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES INCLUDING, WITHOUT LIMITATION, ADVERSE BUSINESS OR MARKET CONDITIONS, THE ABILITY OF HEI TO SECURE AND SATISFY CUSTOMERS, THE AVAILABILITY AND COST OF MATERIALS FROM HEI'S SUPPLIERS, ADVERSE COMPETITIVE DEVELOPMENTS, CHANGE IN OR CANCELLATION OF CUSTOMER REQUIREMENTS, AND OTHER RISKS DETAILED FROM TIME TO TIME IN HEI'S SEC FILINGS. -----END PRIVACY-ENHANCED MESSAGE-----