-----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, WRVOLasmV0h6czRB6zkx/sYEAGqaNX5s+Tk07rVuSn5lrng2oHVlwQ3Gqefdt9Zl jUpiRCDtqkZH5RmjzMpMDg== 0000908662-03-000227.txt : 20030917 0000908662-03-000227.hdr.sgml : 20030917 20030917172743 ACCESSION NUMBER: 0000908662-03-000227 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030915 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICROFINANCIAL INC CENTRAL INDEX KEY: 0000827230 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159] IRS NUMBER: 042962824 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14771 FILM NUMBER: 03900082 BUSINESS ADDRESS: STREET 1: 10 M COMMERCE WAY CITY: WOBURN STATE: MA ZIP: 01801 BUSINESS PHONE: 7819944800 MAIL ADDRESS: STREET 1: 10 M COMMERCE WAY CITY: WOBURN STATE: MA ZIP: 01801 FORMER COMPANY: FORMER CONFORMED NAME: BOYLE LEASING TECHNOLOGIES INC DATE OF NAME CHANGE: 19980605 8-K 1 form_8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): September 15, 2003 -------------------------------------------------------------------- MICROFINANCIAL INCORPORATED --------------------------- (Exact name of registrant as specified in its charter) MASSACHUSETTS ------------- (State or other jurisdiction of incorporation) 1-14771 04-2962824 ------------------------------------------------------------ (Commission file number) (IRS Employer Identification Number) 10-M Commerce Way, Woburn, MA 01801 ----------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 781-994-4800 ---------------------------------------------------------------- N/A --- (Former name or former address, if changed since last report) Item 7. Financial Statements and Exhibits. --------------------------------- Exhibit Exhibit Title ------- ------------- Exhibit 99 Press Release dated September 15, 2003 Item 12. Results of Operations and Financial Condition. --------------------------------------------- Pursuant to Form 8-K, General Instructions F, Registrant hereby incorporates by reference the press release attached hereto as Exhibit 99. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MICROFINANCIAL INCORPORATED Registrant By: /s/ James Jackson ------------------------------------------ James Jackson Vice President and Chief Financial Officer Dated: September 15, 2003 EX-99 3 exh_99.txt PRESS RELEASE DATED 9/15/03 Exhibit 99 For Release September 15 Contact: 4:01 pm Richard F. Latour President and CEO Tel: 781-994-4800 MICROFINANCIAL INCORPORATED - Company Continues To Reduce Debt Obligation - - Corporate Headquarters Lease Extended For Two Years - Woburn, MA -- September 15, 2003 -- MicroFinancial Incorporated (NYSE-MFI), a leader in Microticket leasing and finance, announced today the company continues to reduce its outstanding debt obligations and as of August 31, 2003 has reduced the debt balance in excess of the amounts required by the Company's long-term bank agreement. The Company's principal payments on its securitization notes and senior credit facility have consistently been paid down according to their repayment schedules. As of September 1, 2003, the senior credit facility debt balance outstanding was $73.5 million, compared to an expected $78.5 million for the same period, as stated in the bank agreement. The Company also successfully negotiated an extension on the existing lease for its corporate headquarters that will take effect January 1, 2004. Richard Latour, President and Chief Executive Officer stated, "Once again we continue to surpass our required repayments and other financial expectations of our bank agreement. This includes surpassing our lender's target debt balance by approximately $5.0 million through September 1, 2003 and reducing our total interest bearing debt year to date by over $80 million. In addition, our debt-to-worth ratio, as measured by total liabilities less subordinated debt to total equity plus subordinated debt, stood at 1.5 to 1.0 at August 31, 2003." About Microfinancial MicroFinancial Inc. (NYSE: MFI), headquartered in Woburn, MA, is a financial intermediary specializing in leasing and financing for products in the $500 to $10,000 range. The company has been in operation since 1986. Statements in this release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, words such as "believes," "anticipates," "expects," "views, " and similar expressions are intended to identify forward-looking statements. The Company cautions that a number of important factors could cause actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. Readers should not place undue reliance on forward-looking statements, which reflect the management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure that it will be able to anticipate or respond timely to changes which could adversely affect its operating results in one or more fiscal quarters. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results may result in fluctuations in the price of the Company's common stock. For a more complete description of the prominent risks and uncertainties inherent in the Company's business, see the risk factors described in documents the Company files from time to time with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----