-----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, WDUcHllLk4HpGHsSdCQJ2nIqEGBYb/wLgwKgnde0uDw4KmPBWVniSQkA7OzuiT7H CJLcBTJYgWO/2P2yWavaVg== 0001015402-01-500712.txt : 20010424 0001015402-01-500712.hdr.sgml : 20010424 ACCESSION NUMBER: 0001015402-01-500712 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010420 ITEM INFORMATION: FILED AS OF DATE: 20010420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEI INC CENTRAL INDEX KEY: 0000351298 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [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: 1607476 BUSINESS ADDRESS: STREET 1: 1495 STEIGER LAKE LN STREET 2: P O BOX 5000 CITY: VICTORIA STATE: MN ZIP: 55386 BUSINESS PHONE: 9524432500 MAIL ADDRESS: STREET 1: P O BOX 5000 STREET 2: 1495 STEIGER LAKE LANE CITY: VICTORIA STATE: MN ZIP: 55386 8-K 1 hei.txt 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): April 20, 2001 ---------------- 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 providing a business and financial update on April 19, 2001. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits: 99.1 Press release, dated April 19, 2001. 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: April 19, 2001 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 April 19, 2001 4 EX-99.1 2 doc2.txt NEWS RELEASE HEI INC 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 PROVIDES BUSINESS AND FINANCIAL UPDATE MINNEAPOLIS, April 19, 2001 -- HEI, Inc. (Nasdaq: HEII, www.heii.com) a leader in the design and manufacture of microelectronics for the hearing, medical and communications markets, today provided a financial update and status of actions taken to address current business and economic issues. Due to the continued general economic downturn, and specifically a slowdown in the hearing, RFID/Access, and electronic contract manufacturing markets, HEI expects revenue for its fiscal third quarter to be down 5% to 10% sequentially from fiscal second quarter, but 5% above third quarter a year ago. The Company expects a third quarter net loss of approximately 11 cents per share, including expenses associated with the phase out of the Mexico manufacturing facility. This facility will be completely phased out in the third quarter with profitable programs in strategic markets being transferred to other HEI locations. The Company is taking this action to focus its resources as it expands its broadband and hearing businesses. For the four quarters ended March 3, 2001, HEI would have earned 45 cents per share if the losses associated with the Mexico facility were excluded, compared to a reported net income of 3 cents per share including the losses associated with the Mexico facility. The Company believes that the hearing and medical markets will improve in the fourth quarter of 2001. This combined with HEI's expansion into the broadband market will result in fourth quarter revenue growth compared to the third quarter of this fiscal year and the fourth quarter of last fiscal year. HEI expects fourth quarter net income in the single digit earnings per share range, as well as significant revenue growth and improved earnings in FY2002. - -------------------------------------------------------------------------------- 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. Headquarters and Microelectronics Division PO Box 5000, 1495 Steiger Lake Lane, Victoria, MN 55386 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 the estimated HEI revenue and profit growth 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-----