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UNITED STATES
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): APRIL 15, 1998
MCII HOLDINGS (USA), INC.
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(Exact name of Registrant as specified in its charter)
DELAWARE 333-08871 86-0830781
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) Number)
10 EAST GOLF ROAD, DES PLAINES, ILLINOIS 60016
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(Address of principal executive offices) (Zip Code)
(847) 299-9900
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(Registrant's telephone number, including area code)
N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
During the course of the Registrant's review of its 1997 financial
statements, the Registrant identified items that were not properly accounted
for in its 1997 quarterly reports. Those items principally included charges to
inventories and receivables at the Registrant's U.S. parts subsidiary,
Universal Coach Parts, Inc., expensing previously capitalized start-up costs
incurred in 1997 related to the development of the Registrant's new line of
coaches and properly converting the financial statements of the Registrant's
Mexican coach subsidiary, Dina Autobuses, S.A. de C.V., to U.S. generally
accepted accounting principles. Because the charges affected the financial
statements contained in each of the Registrant's three previously filed 1997
quarterly reports, the Registrant will restate its financial statements
for those periods.
Accordingly, attached hereto as Schedule I is restated consolidated income
statement information for each of the three previously reported 1997 quarterly
periods. The Registrant will file an amendment to its Reports on Form 10-Q for
the quarterly periods ended March 31, 1997, June 30, 1997 and September 30,
1997 with restated financial statements as soon as practicable.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Financial Statements
Schedule I - Restated Consolidated Income Statement Information
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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 thereunto duly authorized.
MCII HOLDINGS (USA), INC.,
a Delaware corporation
Date: April 15, 1998 By: /s/ Guillermo Kareh Aarun
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Name: Guillermo Kareh Aarun
Title: Director, Chief Executive
Corporate Officer and
Secretary
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MCII Holdings (USA), Inc.
Schedule I
Restated Consolidated Income Statement Information
(000 omitted)
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First Quarter Second Quarter Third Quarter
As Reported As Restated As Reported As Restated As Reported As Restated
1997
<S> <C> <C> <C> <C> <C> <C>
Revenues $178,835 $174,637 $190,190 $185,790 $132,676 $135,303
Operating Income 19,592 16,645 21,550 22,501 7,057 8,191
Income Before Taxes 14,915 12,513 16,222 16,791 5,469 5,134
Income from
Continuing Operations $ 8,324 $ 7,739 $ 8,341 $ 9,429 $ 1,185 $ 4,754
1996
Revenues $144,185 $144,017 $180,357 $179,666 $126,307 $127,916
Operating Income 7,863 8,863 21,824 24,873 8,271 10,745
Income Before Taxes 5,270 5,491 18,057 21,885 5,274 8,705
Income from
Continuing Operations $ 3,272 $ 2,984 $ 9,960 $ 9,397 $ 6,713 $ 6,240
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