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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13A-16 or 15D-16 of the
Securities Exchange Act of 1934
For the month of April 1999
PEAK INTERNATIONAL LIMITED
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Units 3, 4, 5 and 7, 37th Floor,
Wharf Cable Tower, 9 Hoi Shing Road,
Tsuen Wan N.T., Hong Kong
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(Address of principal executive offices)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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On April 7, 1999, Peak International Limited, a Bermuda corporation,
(Peak), announced in response to inquiries that it expects to report sales of
approximately $17.5 million for the fiscal quarter ended March 31, 1999. Peak
further noted that it attained higher revenues for the month of March than for
any of the last 12 months.
Peak emphasized that it is meeting its customer demands, and that it
has not experienced the transitory delays in order taking or customer service,
disclosed as possible in a previous announcement, and further, that it has
experienced no stoppages at its factories. Peak also stated that its cash
position is strong, and that it has no borrowings.
Peak reaffirmed that it is actively searching for a new President and
CEO as part of the Company's goal to build its senior management leadership.
Peak also quoted Jerry Mo, acting President and CEO as saying,
"Contrary to the self-serving efforts and inaccurate statements of certain
parties interested in depressing the price of the Company stock, Peak's market
position, the momentum building in its business, and its financial strength all
position the Company to attain long term growth and enhance shareholder value.
We are very pleased with March sales results and are confident about business
developments."
Peak announced that it expects to announce its year-end results and
earnings in early May.
Peak is a leading supplier of precision engineered packaging products
for the storage, transportation, and automated handling of semiconductor devices
and electronic components.
This report contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities and Exchange Act of 1934, as amended. The forward-looking statements
reflect the view of Peak at the time Peak made the statements with respect to
future events and financial performance. These forward-looking statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from the statements made herein. The words "believes,"
"expects", "anticipates", "intends", "plans", "estimates" and similar
expressions, identify forward-looking statements, which speak only as of today.
Peak undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or otherwise.
Investors are cautioned not to place undue reliance on these forward-looking
statements.
2
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Peak files the following exhibit as part of this Report:
Exhibit 99.1 Copy of the Press Release, dated April 7, 1999, issued by Peak,
publicly announcing the activities reported therein.
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Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
PEAK INTERNATIONAL LIMITED
/s/ Jerry Mo
Date: April 13,1999 By: _________________________________________
Jerry Mo
Chief Financial Officer
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EXHIBIT 99.1
Contact: Robert Siegfried Contact: Jerry Mo
Kekst and Company Peak International Ltd.
(212) 52l-4800 Austin, Texas
(512) 339-4684 or
Hong Kong
(852) 2492-2287
PEAK INTERNATIONAL REPORTS CONTINUING MOMENTUM IN ITS BUSINESS
FOR IMMEDIATE RELEASE
HONG KONG AND AUSTIN, TEXAS, APRIL 7, 1999 - In response to inquiries, Peak
International (Nasdaq: PEAKF) (AMEX: PTT) today reported continuing momentum
in its business, reflecting ongoing strengthening in the semi-conductor industry
and customer demand for Peak's products. Peak expects to report sales of
approximately $17.5 million for the fiscal quarter ended March 31, 1999. Peak
further noted that it attained higher revenues for the month of March than for
any of the last 12 months.
Peak emphasized that it is meeting its customer demands, and that it has not
experienced the transitory delays in order taking or customer service, disclosed
as possible in a previous announcement, and further, that it has experienced no
stoppages at its factories. Peak also stated that its cash position is strong,
and that it has no borrowings.
Peak reaffirmed that it is actively searching for a new President and CEO as
part of the Company's goal to build its senior management leadership.
Jerry Mo, acting President and CEO said, "Contrary to the self-serving efforts
and inaccurate statements of certain parties interested in depressing the price
of the Company stock, Peak's market position, the momentum building in its
business, and its financial strength all position the Company to attain long
term growth and enhance shareholder value. We are very pleased with March sales
results and are confident about business developments."
Currently, the Company is expected to announce its year-end results and earnings
in early May.
Peak International Limited is a leading supplier of precision engineered
packaging products for the storage, transportation, and automated handling of
semiconductor devices and electronic components.
This press release contains certain forward-looking statements, which Peak is
making in reliance on the safe harbor provisions of the Private Securities
Litigation Act of 1995. Investors are
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cautioned that all forward-looking statements are subject to significant risks
and uncertainties. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance,
or achievements of the company, or industry results, to be materially different
form any future results, performance or achievements expressed or implied by
such forward-looking statements. Additional information concerning risk 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.
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