-----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, Jh87nGRv5AaycfbGizKvb2Qafe+7l7G54Vqpiml1CK+InEmb7QEBao1EZNVqnzKN qAWukqqcUzxneOXfWE3VjQ== 0000950153-03-001596.txt : 20030813 0000950153-03-001596.hdr.sgml : 20030813 20030813161316 ACCESSION NUMBER: 0000950153-03-001596 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030812 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIMULA INC CENTRAL INDEX KEY: 0000885080 STANDARD INDUSTRIAL CLASSIFICATION: PUBLIC BUILDING AND RELATED FURNITURE [2531] IRS NUMBER: 860320129 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12410 FILM NUMBER: 03841460 BUSINESS ADDRESS: STREET 1: 2700 NORTH CENTRAL AVE STREET 2: STE 1000 CITY: PHOENIX STATE: AZ ZIP: 85004 BUSINESS PHONE: 6026314005 MAIL ADDRESS: STREET 1: 2700 NORTH CENTRAL AVE STREET 2: STE 1000 CITY: PHOENIX STATE: AZ ZIP: 85004 8-K 1 p68159e8vk.htm 8-K e8vk
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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) August 12, 2003

SIMULA, INC

(Exact name of registrant as specified in its chapter)
         
Arizona   1-12410   86-0320129
 
 
(State or other jurisdiction
of incorporation		   (Commission
File Number) 		  (IRS Employer
Identification No.)
     
7822 South 46th Street,         Phoenix, Arizona    85044
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (602) 643-7233

2625 South Plaza Drive, Suite 100,         Tempe, Arizona            85282

(Former name or former address, if changed since last report)

Item 7. Financial Statements and Exhibits.

     (c)  Exhibits. The following exhibit is included pursuant to Item 601 of Regulation S-K.

     
No.   Description
 
99.1   Registrant’s Press Release dated August 12, 2003 pertaining to earnings for the fiscal quarter ended June 30, 2003

Item 12. Results of Operation and Financial Condition

On August 12, 2003, the registrant issued a press release pertaining to earnings for the fiscal quarter ended June 30, 2003. A copy of the press release is filed herewith as Item 7, Exhibit 99.1.

 

 

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.

     
    SIMULA, INC.
     
Dated: August 14, 2003   /s/ John A. Jenson
Chief Financial Officer

EXHIBIT INDEX

Exhibits. The following exhibit is included pursuant to Item 601 of Regulation S-K

     
No.   Description
 
99.1   Registrant’s Press Release dated August 12, 2003 pertaining to earnings for the fiscal quarter ended June 30, 2003

  EX-99.1 3 p68159exv99w1.htm EXHIBIT 99.1 exv99w1

 

Exhibit 99.1

         
(SIMULA LOGO)       Simula Inc.
 7822 South 46th Street
Phoenix, AZ 85044-5354 USA
voice: 602.631.4005 fax: 602.631.9005
www.simula.com

Simula Contact:
Bradley P. Forst
Chief Executive Officer
602-631-4005

SIMULA INC. ANNOUNCES SECOND QUARTER RESULTS

Company reconfirms 2003 Revenue Growth and Profitability

PHOENIX, Arizona – August 12, 2003 — Simula Inc. (AMEX: SMU), announced today that it expects to report revenues for the second quarter ended June 30, 2003 of $17.2 million, a decrease of 20% from $21.6 million in the second quarter of 2002. Revenues were impacted by delays in funding for certain programs and production line interruptions occurring in connection with consolidation of the Company’s Asheville, N.C. operations into the Phoenix operation. The Company will report a net loss for the second quarter ended June 30, 2003, of $1.8 million. The second quarter was impacted by one time items including a $1 million fee under a leverage ratio loan covenant, a $0.4 million charge related to the early retirement of a mortgage note related to the closing of the Company’s Asheville facility, and moving and restructuring charges of approximately $0.6 million.

“Results were consistent with our internal expectations. Revenue is expected to grow substantially in the third and fourth quarter. Our defense business remains robust and bookings are strong. We expect the second-half of the year will represent record production and deliveries,” said Brad Forst, President & CEO.

The Company reconfirms 2003 guidance for revenue growth in the Aerospace and Defense Group in the range of 15% over 2002, and for profitability in 2003. The Company expects 2003 Earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $15 million, excluding the impact of the $1 million covenant fee discussed above and approximately $1 million in estimated one-time moving and restructuring costs. The Company believes EBITDA excluding one-time charges to be a useful performance measure due to its leveraged status.

2003 Expected EBITDA (in millions)

         
Expected Income Before Discontinued Operations
   $ 1.2  
Add: Expected Depreciation & Amortization
     1.2  
Add: Expected Interest Expense
     10.5  
Add: Expected Income Tax Expense
     .1  
Add: Expected One-Time Moving & Restructuring Costs
     1.0  
Add: One-Time Covenant Fee
     1.0  
 
    
 
2003 Expected EBITDA
   $ 15.0  
 
    
 

 

 

In July, Simula announced that it had signed a letter of intent to be acquired by Armor Holdings, Inc. The Company confirmed that the process toward a definitive merger agreement remains on track.

The Company expects to file its Form 10Q on August 14, 2003.

Simula designs and makes systems and devices that save human lives. Its core markets are military aviation safety, military personnel safety, and land and marine safety. Simula’s core technologies include energy-absorbing seating systems, inflatable restraints, advanced polymer materials, lightweight transparent and opaque armor products, emergency bailout parachutes and military personnel protective equipment. For more information, go to www.simula.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements that involve risks and uncertainties that may cause the Company’s actual experience to differ materially from that which is anticipated. These forward-looking statements include statements about expected financial results and future contracts, orders, production targets, revenues and EBITDA. Actual results may differ materially from those projected. Risks include the rate of government program funding and procurement, availability of raw materials, and manufacturing capacity, as well as those risks described herein, in the Company’s press releases, and in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission.

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