-----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, L4MDlqVkaoiXNV9bfyDOb/LIPm1Po9v7gHAuVc0Wy7ZzWnA7pNfv7sLrCxBC3APO 4WW36jsleWNAWW9dGXBUBw== 0000067472-04-000172.txt : 20041115 0000067472-04-000172.hdr.sgml : 20041115 20041115130335 ACCESSION NUMBER: 0000067472-04-000172 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041115 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041115 DATE AS OF CHANGE: 20041115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MOLEX INC CENTRAL INDEX KEY: 0000067472 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC CONNECTORS [3678] IRS NUMBER: 362369491 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-07491 FILM NUMBER: 041143383 BUSINESS ADDRESS: STREET 1: 2222 WELLINGTON CT CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6309694550 MAIL ADDRESS: STREET 1: 2222 WELLINGTON COURT CITY: LISLE STATE: IL ZIP: 60532 8-K 1 c8k111504.txt 8-K FILING DATED NOVEMBER 15, 2004 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 November 15, 2004 ________________________________________________ Date of Report (Date of earliest event reported) Molex Incorporated ______________________________________________________ (Exact name of registrant as specified in its charter) Delaware 0-7491 36-2369491 _________________ ____________ ______________ (State or other (Commission (IRS Employer jurisdiction File Number) Identification of incorporation) No.) 2222 Wellington Court, Lisle, Illinois 60532 _________________________________________ __________ (Address of principal executive offices) (Zip Code) (630) 969-4550 ____________________________________________________ (Registrant's telephone number, including area code) 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 (see General Instruction A.2. below): [ ] 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 7.01 Regulation FD Disclosure _________ _________________________ On November 15, 2004, Molex issued a press release announcing that it filed its fiscal first quarter report with the SEC and the resignation of Deloitte & Touche LLP. The press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits _________ _________________________________ The following exhibits are being furnished as part of this Form 8-K: Exhibit Number Description ______________ ___________ 99.1 Press release of Molex Incorporated dated November 15, 2004. 2 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 hereunto duly authorized. MOLEX INCORPORATED Date: November 15, 2004 By: /s/ LOUIS A. HECHT _______________________ Louis A. Hecht Corporate Secretary and General Counsel 3 EX-99 2 pr041115.txt PRESS RELEASE DATED NOVEMBER 15, 2004 EXHIBIT 99.1 Contact: Neil Lefort Vice President, Investor Relations (630) 527-4344 MOLEX FILES FISCAL FIRST QUARTER REPORT WITH SEC Announces Resignation of Independent Auditors Lisle, IL, USA - November 15, 2004 -- Molex Incorporated (NASDAQ: MOLX and MOLXA), a global electronic components company, announced today that it filed its Quarterly Report on Form 10-Q for the fiscal first quarter ended September 30, 2004 with the Securities and Exchange Commission earlier today. Molex issued a press release on November 11, 2004 disclosing that the filing of such Quarterly Report would be delayed. Molex also announced today that Deloitte & Touche LLP has resigned as the Company's independent auditors effective November 13, 2004 for the reasons described below. As a result, the unaudited financial statements for the quarter included in the 10-Q filing have not been reviewed by an independent public accounting firm under Statement of Auditing Standards No. 100 "Interim Financial Information" as is required by SEC requirements. Molex's management is not aware of any information which would result in any adjustments to the financial information included in the Form 10-Q filed today. The Quarterly Report filed today reflects the $8.0 million ($5.8 million after-tax or $0.03 per share) charge previously disclosed in Molex's November 11 press release related to the omission of certain inter-company inventory in the calculation of profit-in- inventory elimination for prior fiscal periods, of which approximately $3.0 million ($2.2 million after-tax) was related to fiscal 2004. The amount of the charge was unchanged from the amount reflected in the financial results included in Molex's October 20, 2004 earnings release. As disclosed in Molex's November 11 press release, Molex's Audit Committee, with the assistance of independent legal and accounting advisors, conducted an inquiry. The Audit Committee inquiry is complete, and no adjustments were identified as a result of the inquiry. Also included in the results reported in the Quarterly Report for the fiscal quarter ended September 30, 2004 is a reversal of a prior year insurance accrual of $2.7 million ($2.0 million after- tax), which was no longer required, and a reduction in inventory allowance of $1.5 million ($1.1 million after-tax). These amounts are unchanged from the amounts reflected in the financial results included in Molex's October 20, 2004 earnings release. On Saturday, November 13, 2004, representatives of Deloitte advised Molex that Deloitte was prepared to complete its SAS 100 review in time to permit a filing of the Form 10-Q in substantially the form in which it was filed today by the November 15 extended deadline for such report, but only if Molex's principal executive officer and former principal financial and accounting officer, who was recently reassigned as Vice President and Treasurer as described in Molex's November 11 press release, no longer served as officers of Molex and certain disclosures relating to the matters in question were agreed upon. Molex's Audit Committee and Board of Directors each unanimously rejected this condition imposed by Deloitte. Following the communication of Molex's position, representatives of Deloitte advised Molex that Deloitte was resigning as Molex's independent auditors effective immediately. Deloitte did not advise the Company that its resignation was due to any disagreements with Molex on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures which, if not resolved to the satisfaction of Deloitte, would have caused Deloitte to make reference thereto in its audit report. Fred Krehbiel, Co-Chairman of Molex, stated, "We are extremely disappointed with the timing of Deloitte's resignation and strongly disagree with their approach and the condition that we remove as officers valued members of our senior management team. My brother John and I have complete confidence in the integrity and leadership of our senior management team, and believe that the same principles of character, loyalty and integrity that built Molex's hard-earned reputation over its 66-year history are reflected in the Board's decision regarding this matter." Molex's Audit Committee has initiated contact with an independent public accounting firm, and will move promptly to engage a new accounting firm. The Audit Committee chairman, Douglas Carnahan, stated, "We are encouraged by the level of interest and expect that Molex will engage a new accounting firm shortly." Molex plans to file an amendment to its Form 10-Q for the fiscal quarter ended September 30, 2004 after the SAS 100 review of the unaudited financial statements for that quarter has been completed by new independent auditors. Until such amendment is filed, Molex is not deemed by the SEC to be current or timely in its Exchange Act filings or by Nasdaq to be in compliance with its continued listing requirements. Filing the planned amendment to the Form 10-Q after the SAS 100 review of the interim financial statements has been completed would make Molex current in its SEC filing obligations and in compliance with the applicable Nasdaq continued listing requirement. Statements in this release that are not historical are forward- looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Certain of these risks and uncertainties are set forth in Molex's 10-K and other documents filed with the Securities and Exchange Commission and include Molex's ability to timely hire a new independent registered public accounting firm, Molex's ability to timely comply with SEC and Nasdaq reporting obligations, economic conditions in various regions, product and price competition and foreign currency exchange rate changes. Molex does not undertake to revise these forward-looking statements or to provide any updates regarding information contained in this release resulting from new information, future events or otherwise. The Company's Annual Report, as well as news releases and other supplementary financial data is available by accessing the Company's website at www.molex.com. Molex Incorporated is a 66-year-old manufacturer of electronic components, including electrical and fiber optic interconnection products and systems, switches and integrated products in 55 plants in 19 countries throughout the world. -----END PRIVACY-ENHANCED MESSAGE-----