-----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,
UZSZ6FZcXUbeXRpXtgCdb/Ec66T4+t+/6nhCyzSR4PMxhbOqDonYvIaMuaRy6hvm
rmJV6HC6Pahi3A5ltlo19w==
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: March 25, 2003
(Date of earliest event reported)
The Manitowoc Company, Inc.
(Exact name of registrant as specified in its charter)
Wisconsin |
1-11978 |
39-0448110 |
(State or other jurisdiction |
(Commission File Number) |
(I.R.S. Employer |
2400 S. 44th Street, Manitowoc, Wisconsin 54221-0066 |
||
(Address of principal executive offices including zip code) |
Item 5. Other Events
On March 25, 2003, the company issued a press release announcing preliminary first quarter results. This press release is included as exhibit 99.1 to this report.
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.
THE MANITOWOC COMPANY, INC. |
|
(Registrant) |
|
DATE: March 26, 2003 |
/s/ Timothy M. Wood |
Timothy M. Wood |
|
Vice President & Chief Financial Officer |
THE MANITOWOC COMPANY, INC.
EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
Dated as of March 25, 2003
Exhibit No. |
|
Filed Herewith |
||
99.1 |
Press Release dated March 25, 2003. |
X |
||
|
For further information: |
|
The Manitowoc Company, Inc. |
|
|
P.O. Box 66 u Manitowoc WI 54221-0066 |
Vice President |
Director of Investor Relations |
Telephone: 920-684-4410 u Telefax: 920-652-9778 |
& Chief Financial Officer |
& Corporate Communications |
Internet: http://www.manitowoc.com |
Direct Dial: 920-652-1767 |
Direct Dial: 920-652-1713 |
|
Email: twood@manitowoc.com |
Email: skhail@manitowoc.com |
NEWS for Immediate Release
MANITOWOC COMPANY ASSESSES FIRST-QUARTER EARNINGS IMPACT
FROM MARINETTE MARINE WORK STOPPAGE
Earnings outlook reduced, but cash from operations expectation remains unchanged
The 44-day strike at the company's Marinette Marine facility, which ended March 7, is expected to reduce first-quarter earnings per share by approximately $0.12 to $0.15. This is due primarily to lost absorption, inefficiencies, and delays in starting new shipbuilding projects. The strike involved approximately 700 shipyard workers who are represented by Boilermakers Union Local 696.
The company said it also continues to be affected by difficult domestic crane markets - principally for its crawler cranes - and an unstable geopolitical environment.
"Despite our lowered earnings expectations for the first quarter, we remain committed to achieving cash flow from operations of at least $100 million for the year as our diversified model continues to provide stability in challenging times," said Terry D. Growcock, chairman and chief executive officer. "In addition, we are continuing to focus on our proven strategies of operational excellence and new-product development to position ourselves to excel when our markets and the economy improve."
About The Manitowoc Company
The Manitowoc Company, Inc. is the world's largest provider of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, boom trucks, and aerial work platforms. As a leading manufacturer of ice-cube machines, ice/beverage dispensers, and commercial refrigeration equipment, the company offers the broadest line of cold-focused equipment in the foodservice industry. In addition, the company is a leading provider of shipbuilding, ship repair, and conversion services for government, military, and commercial customers throughout the maritime industry.
MANITOWOC COMPANY ASSESSES FIRST-QUARTER EARNINGS IMPACT FROM MARINETTE MARINE WORK STOPPAGE / 2
Forward-looking Statements
Information on the potential factors that could affect the company's actual results of operations is included in its filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
For further information:
/"S6*'$FRI,F3#4%ZK-@1I