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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
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Date of Report (Date of earliest event reported): Commission File Number:
OCTOBER 5, 1998 0-21213
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LCC INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
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DELAWARE 54-1807038
(State or other jurisdiction (IRS Employer
of incorporation) Identification Number)
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7925 JONES BRANCH DRIVE
MCLEAN, VIRGINIA 22102
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(703) 873-2000
(Former name or former address, if changed since last report)
NOT APPLICABLE
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LCC INTERNATIONAL, INC.
ITEM 5 OTHER EVENTS
On October 5, 1998, LCC International, Inc. ("LCC") issued a press
release announcing the resignation of Dr. Geoffrey Scott Carroll ("Dr.
Carroll") as its President and Chief Executive Officer and the appointment of
Dr. Rajendra Singh, Chairperson of the Company's Board of Directors ("Dr.
Singh"), as interim chief executive. Dr. Carroll will remain on the Company's
Board of Directors and act as an advisor to Dr. Singh focusing on strategic
areas related to outsourcing and other growth prospects. Enclosed as Exhibit
99 to this Current Report on Form 8-K and incorporated herein by reference is
the text of the October 5, 1998 press release.
ITEM 7 FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(c) Exhibits.
99. Press Release, dated October 5, 1998, regarding the
resignation of Dr. Geoffrey Scott Carroll as President and
Chief Executive Officer of LCC and the appointment of Dr.
Rajendra Singh as interim chief executive.
2
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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 hereunto duly authorized.
LCC INTERNATIONAL, INC.
Date: October 7, 1998 By: /s/ Richard Hozik
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Richard Hozik
Senior Vice President and Chief
Financial Officer
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EXHIBIT INDEX
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Exhibit Description Page
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99. Press Release dated October 5, 1998
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EXHIBIT 99
FOR IMMEDIATE RELEASE, contact:
Tricia Drennan
Director of Corporation Communications
and Investor Relations
(703) 873-2390 (phone)
(703) 873-2300 (fax)
[email protected]
LCC INTERNATIONAL, INC. ANNOUNCES CHANGE IN MANAGEMENT
Dr. Rajendra Singh, Chairman, to assume the additional role of
Chief Executive Officer, McLean, VA, October 5, 1988 -- LCC International, Inc.
(NASDAQ: LCCI), a leading RF engineering and wireless telecommunications
consulting firm, today announced that Dr. Rajendra Singh, one of the Company's
founders and current chairman of the board, would assume the role of interim
chief executive officer. The change in leadership comes as Dr. Geoffrey S.
Carroll announced that he has resigned his position as president and chief
executive officer of the Company. Dr. Carroll has agreed to continue to serve
as a member of the Company's board of directors and as special advisor to the
chairman and will focus on advising Dr. Singh on strategic areas related to
outsourcing and other growth prospects.
Dr. Singh's re-focus on the operations of LCC stems from
recent trends in the Company's traditional businesses. As previously
disclosed, market conditions such as continued economic turmoil in Asia
Pacific, continued softness in the US market, and delays in a key software
product release have resulted in lower than expected sales and profitability.
Dr. Singh's primary focus will be to re-energize the Company's traditional
business and help achieve the Company's operating targets. Dr. Singh said,
"Geoffrey's talents have helped LCC identify growth prospects for its
traditional businesses. We will continue to aggressively focus on value-added
service opportunities as well as incremental international opportunities for
both our traditional services and our newer comprehensive outsourcing
services."
Commenting on his re-entry into the management of LCC, Dr.
Singh said, "Despite our company's recent performance, I am confident that the
Company is intrinsically strong and very well positioned to succeed in one of
the fastest
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growing telecommunications sectors. We will realign LCC's organization in
light of changing market conditions and I am convinced that we will restore its
profitability to the levels that I and other shareholders expect."
Statements included in this news release which are not
historical in nature are forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. LCC
International, Inc.'s Annual Reports on Form 10-K and Quarterly Reports on Form
10-Q contain certain detailed factors that could cause the Company's actual
results to materially differ from forward-looking statements made by the
Company, including, without limitation, statements regarding future growth, the
acquisition of new management talent, financial performance, strategic business
partnerships, plans to expand and/or finance businesses, planned investments,
costs and timetable for new product development, the health and economic
stability of the world and national markets, the uncertain level of purchases
by current and prospective customers of each company's products and services,
the impact of competitive products and pricing, and other transactions.
LCC International, Inc. (http://www.lcc.com) is the world's
largest RF engineering and wireless telecommunications consulting firm. LCC
provides radio frequency (RF) engineering and network implementation services
and products to the international wireless industry. Headquartered just
outside Washington, D.C. in McLean, Virginia with regional headquarters and
support centers in Brazil, Germany, Norway, and Singapore, the company is
engaged in three areas of business: Services, Systems and Products, and Asset
Management.
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