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): JULY 16, 1999
OMNI ENERGY SERVICES CORP.
(Exact name of registrant as specified in its charter)
LOUISIANA 0-23383 72-1395273
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
4500 NE INTERSTATE 49
CARENCRO, LOUISIANA 70520
(Address of principal executive offices) (Zip Code)
(318) 896-6664
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name or former address, if changed since last report)
<PAGE>
ITEM 5. OTHER EVENTS.
RESIGNATION
On July 16, 1999, OMNI Energy Services, Corp. (the "Company") issued a
press release announcing that Robert F. Nash resigned as its President and
Chief Executive Officer for personal reasons. John H. Untereker has replaced
Mr. Nash as the Company's President and Chief Executive Officer, while
retaining responsibilities as senior financial officer for the foreseeable
future. Mr. Nash will remain a member of the Board of Directors. A copy of
the July 16, 1999 press release making this announcement is an exhibit to this
report.
FINANCIAL RESULTS
On July 22, 1999, the Company issued a press release announcing that its
financial results will not meet analyst expectations for the second quarter
ended June 30, 1999. The Company indicated that the earnings shortfall is
attributable to substantially lower domestic revenues combined with an
operating loss from South American operations. The loss occurred primarily
due to an integrated project in Argentina, which encountered significant cost
variances. A copy of the July 22, 1999 press release making this
announcement is an exhibit to this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 PRESS RELEASE of the Company dated July 16, 1999 concerning
resignation of Robert F. Nash
99.2 PRESS RELEASE of the Company dated July 22, 1999 concerning
second quarter earnings estimate.
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.
OMNI ENERGY SERVICES CORP.
July 23, 1999
/s/ John H. Untereker
------------------------
John H. Untereker
President and
Chief Executive Officer
OMNI ENERGY SERVICES CORP.
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact: John H. Untereker 318.896.6664
President/Chief Executive Officer
Untereker Named Chief Executive Officer of OMNI Energy Services Corp.
CARENCRO, La., July 16,1999 OMNI Energy Services Corp. (Nasdaq: OMNI),
announced today that John H. Untereker has been appointed President and
Chief Executive Officer. Mr. Untereker replaces Robert F. Nash who has
resigned for personal reasons. Mr. Nash will remain a member of the Board
of Directors. Untereker will retain responsibilities as senior financial
officer of the Company for the foreseeable future.
Commenting on the announcement, David A. Jeansonne, Chairman of the Board
of Directors stated "We have a great deal of confidence in John's ability
to lead OMNI during this particularly dynamic market environment. He
brought considerable management experience to the Company when he joined us
last year and he has certainly demonstrated that depth during his tenure.''
Mr. Jeansonne added "I am pleased that we will have the benefit of Robert's
continuing insight as a member of OMNI's Board of Directors.''
Prior to joining OMNI, Untereker served in senior management positions with
NL Industries, Inc., Lend Lease Trucks Inc. and Petroleum Helicopters Inc.
beginning in 1980. He is a member of SEG, AICPA and FEI. Untereker is a
graduate of Williams College (BA) and Iona College (MBA).
Headquartered in Carencro, La., OMNI provides a broad range of integrated
services to both geophysical and exploration and production companies
engaged in the acquisition of on-shore seismic data. The Company provides
its services through three business units: Seismic Drilling, Seismic Survey
and Helicopter Support. OMNI specializes in operations in logistically
difficult and environmentally sensitive terrain worldwide.
OMNI ENERGY SERVICES CORP.
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact: John H. Untereker 318.896.6664
President/Chief Executive Officer
OMNI Energy Estimates Second Quarter Loss
CARENCRO, La., July 22, 1999 OMNI Energy Services Corp. (Nasdaq: OMNI),
announced today that its financial results will not meet analyst
expectations for the quarter ended June 30, 1999. The Company estimates
that it will report a net loss for the quarter of $4.3 million ($0.27 per
basic share) on revenues of $8.5 million compared to net income of $3.5
million ($0.22 per share) and revenues of $24.3 million in the June 1998
quarter. The Company indicated that the earnings shortfall is attributable
to substantially lower domestic revenues from all business segments, which
aggregated $6.9 million for the quarter. Additionally, an operating loss of
$1.9 million ($0.12 per share) was incurred from South American operations
in the quarter. The loss occurred primarily due to an integrated project
in Argentina, which encountered significant cost variances due to statutory
and labor problems. The job has been completed and no further operating
losses are anticipated.
OMNI indicated final results for the quarter will be publicly released on
August 4, 1999.
Headquartered in Carencro, La., OMNI provides a broad range of integrated
services to both geophysical and exploration and production companies
engaged in the acquisition of on-shore seismic data. The Company provides
its services through three business units: Seismic Drilling, Seismic Survey
and Helicopter Support. OMNI specializes in operations in logistically
difficult and environmentally sensitive terrain worldwide.
