-----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, RhKqaxnRjQoY59Iq591vo68lbjlEg8OwVwnBPxiBp7N4kUxxfOhFRw8WToKipu5U TioOl21SwWu2lt7GG7zeKg== /in/edgar/work/20000526/0000900440-00-000023/0000900440-00-000023.txt : 20000919 0000900440-00-000023.hdr.sgml : 20000919 ACCESSION NUMBER: 0000900440-00-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000517 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INACOM CORP CENTRAL INDEX KEY: 0000818815 STANDARD INDUSTRIAL CLASSIFICATION: [6794 ] IRS NUMBER: 470681813 STATE OF INCORPORATION: DE FISCAL YEAR END: 1226 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13311 FILM NUMBER: 645100 BUSINESS ADDRESS: STREET 1: 10810 FARNAMDRIVE SUITE 200 STREET 2: 10810 FARNAM DR CITY: OMAHA STATE: NE ZIP: 68154 BUSINESS PHONE: 4023923900 MAIL ADDRESS: STREET 1: 10810 FARNAM DRIVE STREET 2: SUITE 200 CITY: OMAHA STATE: NE ZIP: 68154 FORMER COMPANY: FORMER CONFORMED NAME: VALCOM INC DATE OF NAME CHANGE: 19910812 8-K 1 PRESS RELEASE - -------------------------------------------------------------------------------- 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 May 17, 2000 Date of Report (Date of earliest event reported) InaCom Corp. (Exact name of registrant as specified in its charter) Delaware 0-16114 47-0681813 (State or other (Commission (IRS Employer jurisdiction of File Number Identification No.) incorporation) 2001 Westside Parkway, Suite 260, Alpharetta, GA 30004 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (800) 843-2762 - -------------------------------------------------------------------------------- Item 5. OTHER EVENTS. On May 17, 2000, InaCom Corp. issued a press release announcing, among other things, that it would be restating its financial results for prior periods and exploring strategic alternatives. A copy of the press release is attached as an exhibit and is incorporated herein by reference. ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits. The following exhibit is filed with this Form 8-K: 99.1 Press Release dated May 17, 2000. 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. INACOM CORP. May 18, 2000 /s/ Thomas J. Fitzpatrick ---------------------------------- Thomas J. Fitzpatrick Executive Vice President and Chief Finance Officer EX-99.1 2 PRESS RELEASE Exhibit 99.1 Wednesday May 17 Company Press Release Inacom Confirms Restatement Periods; Announces Exploration of Strategic Alternatives ATLANTA, May 17 /PRNewswire/ -- Inacom Corp. (NYSE) announced today that it will be restating its financial results for the first three fiscal quarters of 1999 and for each of its 1998 fiscal quarters. The restatements are principally to recognize in those periods a portion of the previously announced special charge to increase accounts receivable reserves. As previously announced, the accounts receivable at issue primarily relate to the Company's former product customization and logistics operations that were sold to Compaq Computer Corporation on February 16, 2000. The Company anticipates that it will record charges in addition to those previously announced of at least $25 million to further increase accounts receivable reserves and to properly record liabilities. The Company believes it is likely that certain of these additional charges will relate to prior fiscal quarters. The Company is currently working with its auditors to complete the restatements of previously reported financial results. The Company will report its restated financial results upon the final determination of those amounts by the Company and its auditors. Thereafter, the Company will file its 1999 Annual Report on Form 10-K, its amended Forms 8-K (originally filed March 4, 1999 and March 2, 2000), and the applicable amended Form 10-Qs. At this time the Company cannot determine with certainty when such filings will be completed; however, such filings are not expected to be completed before June 30, 2000. Until all 1998 and 1999 financial results have been finalized, the Company will be unable to prepare the financial results for the first quarter ended March 25, 2000. The Company also announced that operating results have been below expectations; as a result, it has been experiencing cash flow shortages. The Company is continuing its efforts to reduce operating expenses and seek alternative financing sources, and has decided to explore possible strategic alternatives, including a sale of certain assets and/or a potential sale of the Company. The Company has retained The Blackstone Group L.P. to act as advisors in this process. No assurance can be given as to whether any of the various options being considered will be successfully implemented. About Inacom Inacom Corp. is an e-Business infrastructure solutions company. The Company offers desktop outsourcing services to support the information technology (IT) infrastructure utility and services to enable business-to- business e-solutions. Forward Looking Statement This press release contains certain forward-looking statements based on certain assumptions and information currently available to management. Such statements are subject to various risks and uncertainties, including those described in the Company's 1998 Annual Report on Form 10K that could cause actual results to differ materially from the results discussed herein. -----END PRIVACY-ENHANCED MESSAGE-----