SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): March 13, 1998
ALLEGHENY TELEDYNE INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 1-12001 25-1792394
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1000 SIX PPG PLACE, PITTSBURGH, PENNSYLVANIA 15222-5479 (Address of
principal executive offices) (Zip code)
Registrant's telephone number, including area code: 412-394-2800
Page 1 of 6 Pages
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Item 5. Other Events.
On March 13, 1998, Allegheny Teledyne Incorporated issued a press
release, a copy of which is filed as Exhibit 99.1 hereto.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits. The following exhibit is filed as part of this Current
Report on Form 8-K:
Description Exhibit No.
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Press Release dated March 13, 1998 99.1
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SIGNATURE
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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.
Allegheny Teledyne Incorporated
Date: March 17, 1998 By: /s/Jon D Walton
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Senior Vice President-General
Counsel and Secretary
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EXHIBIT INDEX
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Exhibit No. Description
- ---------- -----------
99.1 Press Release dated March 13, 1998
Page 4 of 6 Pages
Exhibit 99.1
NEWS RELEASE [LOGO]
1000 Six PPG Place
Pittsburgh, PA 15222-5479
Contact: Bill Acton (media)
412/394-2872
Dan Greenfield (financial)
412/394-3004
Gary Stechmesser (financial)
412/394-2861
ALLEGHENY TELEDYNE COMMENTS ON EARNINGS OUTLOOK
Pittsburgh, PA, March 13, 1998 - Allegheny Teledyne Incorporated (NYSE:ALT)
announced today that earnings before special items for the quarter ending March
31, 1998 are unlikely to reach analysts' estimates that average $0.45 per share.
Continuing weakness in commodity stainless steel prices despite steady demand,
combined with a shortfall in aerospace-related metals shipments largely caused
by a major equipment outage at an important customer, will hold earnings back in
the first quarter.
In the quarter the company also expects non-recurring restructuring charges and
transaction costs from its recently announced acquisitions. The acquisitions are
expected to add annualized revenues in excess of $750 million.
This news release contains forward-looking statements related to anticipated
revenues, earnings and costs. Actual results could differ materially from those
projected in the forward-looking statements. Additional information concerning
factors that could cause actual results to differ materially from those
projected in the forward-looking statements is contained in the company's
filings with the Securities and Exchange Commission, including its report on
Form 10-K for the year ended December 31, 1996.
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Allegheny Teledyne Incorporated is a group of technology-based manufacturing
companies with significant concentration in specialty metals, complemented by
aerospace and electronics, industrial, and consumer products. Allegheny
Teledyne's website can be found at http://www.alleghenyteledyne.com.
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