-----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, KUZWJGO3y0Yj3TRRDxBxiWc5ad1pK8qfNxQj6uvcpH/MMEiSB+Vs9Zydk8PCjtzg w7H2eO9gQ2RpZde/yYRoww== 0000950109-96-004825.txt : 19960805 0000950109-96-004825.hdr.sgml : 19960805 ACCESSION NUMBER: 0000950109-96-004825 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960731 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960802 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALCO CAPITAL RESOURCE INC CENTRAL INDEX KEY: 0000922255 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PAPER AND PAPER PRODUCTS [5110] IRS NUMBER: 232493042 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20405 FILM NUMBER: 96603196 BUSINESS ADDRESS: STREET 1: 1738 BASS RD CITY: MACON STATE: GA ZIP: 31210 BUSINESS PHONE: 2152968000 MAIL ADDRESS: STREET 1: BOX 834 CITY: VALLEY FORGE STATE: PA ZIP: 19482 8-K 1 FORM 8-K 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 Date of Report (Date of earliest event reported) July 31, 1996 IKON CAPITAL, INC. ---------------------------------------------- (Exact name of registrant as specified in its charter)
DELAWARE File No. 0-20405 23-2493042 - ------------------ ---------------- -------------- (State or other (Commission File (IRS Employer jurisdiction of Number) Identification incorporation) Number)
1738 Bass Road, Macon, Georgia 31210 ------------------------------ ----- Registrant's telephone number, including area code: (912) 471-2300 -------------- Not Applicable ----------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events. ------------ On July 31, 1996, at an investors' conference in New York City, the Registrant's Parent, Alco Standard Corporation ("Alco"), outlined long- term growth goals for IKON Office Solutions and Unisource Worldwide, Inc. The two businesses will begin operating as independent publicly- owned companies in January 1997. John Stuart, Chairman and Chief Executive Officer of Alco, stated that IKON is targeting 25-30 percent growth in revenues, and expects that both operating income and earnings per share will increase at a yearly rate of 35-40 percent through the year 2000. Ray Mundt, recently named Chairman and Chief Executive Officer of Unisource, stated that Unisource's revenues and operating income in fiscal 1996 will be about equal to 1995 levels, excluding corporate expenses. Longer term, Unisource's annual goal for revenue growth is 10-12 percent through the year 2000. Its goal for earnings per share is 7-10 percent in fiscal 1997 and 15-20 percent thereafter. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. ------------------------------------------------------------------ (c) Exhibits. -------- Press Release of Alco Standard Corporation dated July 31, 1996 SIGNATURE 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. ALCO STANDARD CORPORATION By: /s/ Robert M. Kearns ------------------------------- Robert M. Kearns Vice President Dated: July 31, 1996 Index to Exhibit ---------------- (28) Press Release Dated July 31, 1996 EX-99 2 PRESS RELEASE
News Release Charles R. Tilden Suzanne C. Shenk Martha A. Buckley Vice President, Manager, Investor Director, Corporate Corporate Affairs Relations Communications 610-993-3608 610-993-3526 610-993-3609
ALCO STANDARD HOSTS INVESTORS' CONFERENCE-- OUTLINES LONG-TERM GROWTH GOALS Valley Forge, Pennsylvania, July 31, 1996--Alco Standard said today it expects IKON Office Solutions and Unisource Worldwide, Inc. to deliver increased earnings in fiscal year 1997 and through the end of the decade. At an investors' conference in New York City, Alco reviewed the performance goals for its two businesses, which will begin operating as independent publicly- owned companies in January, 1997. Alco previously announced it would spin off Unisource through a tax-free distribution of Unisource stock to Alco shareholders, and shortly thereafter, change Alco's name to IKON Office Solutions. John Stuart, Chairman and Chief Executive Officer of Alco Standard, said, "IKON is targeting 25-30 percent annual growth in revenues. We expect both operating income and earnings per share to increase at a yearly rate of 35-40 percent through the year 2000. We think these are realistic goals, given our anticipated rate of internal growth and pace of acquisitions." The company has already stated it expects about a 40 percent increase in operating income at IKON in fiscal year 1996 over 1995, excluding corporate expenses. Ray Mundt, recently named Chairman and Chief Executive Officer of Unisource, said that he expects Unisource's revenues and operating income in fiscal 1996 to be about equal to 1995 levels, excluding corporate expenses. -more- "Longer-term, we have established an annual goal of 10-12 percent revenue growth through the year 2000," Mundt said. "With that level of revenue growth, we expect to increase operating income 15-20 percent annually during these years. Our goal is to grow earnings per share 7-10 percent in fiscal 1997 and 15-20 percent annually after that." Mundt explained that the growth in earnings per share will be lower in 1997 because of an increase in share base and significantly higher interest expense associated with higher debt levels once Unisource pays a tax-free dividend to Alco. Stuart said he will recommend next week to Alco's Board of Directors a 60 percent/40 percent split of Alco's debt between Unisource and IKON, respectively, when the two companies separate at the beginning of 1997. "I will ask our Board to approve a one-time $600 million dividend to be paid by Unisource to Alco," he said. Proceeds from the Unisource dividend will be used to reduce IKON's debt to just over $400 million. Unisource's debt will increase to about $700 million. Alco's Board of Directors will also be asked to approve common stock dividends for both companies. Stuart will propose a $.16 per share annual dividend on IKON stock and a $.40 per share annual dividend on Unisource stock. "We have paid a dividend to our shareholders every year since Alco was founded and we are committed to continuing that record," he said. Alco Standard, headquartered in Valley Forge, Pennsylvania, operates IKON Office Solutions and Unisource. IKON is one of the world's leading office technology solutions companies with operations in North America and Europe. Unisource is the largest marketer and distributor of paper and supply systems in North America. ### -----END PRIVACY-ENHANCED MESSAGE-----