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U.S. 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): MARCH 30, 1998
DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 1-13647 73-1356520
(STATE OR OTHER JURISDICTION OF (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER
INCORPORATION) IDENTIFICATION NO.)
5330 EAST 31ST STREET, TULSA, OKLAHOMA 74135
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (918) 660-7700
FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT: N/A
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ITEM 5. OTHER EVENTS
On March 30, 1998, Dollar Thrifty Automotive Group, Inc. issued a
press release with respect to the effect of an accounting rule on quarterly
results of operations.
A copy of such press release is attached as Exhibit 99 hereto and
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The Exhibits to this report are listed in the Index to
Exhibits set forth elsewhere herein.
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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.
DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.
Date: March 30, 1998 By: /s/ STEVEN B. HILDEBRAND
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Name: Steven B. Hildebrand
Title: Vice President, Principal
Financial Officer and
Principal Accounting Officer
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INDEX TO EXHIBITS
Exhibit No. Description
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99 Press Release relating to the effect of an
accounting rule on quarterly results of
operations for Dollar Thrifty Automotive
Group, Inc.
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EXHIBIT 99
PRESS RELEASE
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DOLLAR THRIFTY AUTOMOTIVE GROUP REPORTS TAX IMPACT
ON FIRST QUARTER EARNINGS
TULSA, OKLAHOMA, March 30, 1998: Dollar Thrifty Automotive Group, Inc.
(NYSE:DTG), today announced that first quarter earnings will reflect the
unfavorable impact of $.03 per share when a required, higher income tax
provision is applied to pre-tax consensus earnings estimates. The Company's
Canadian subsidiary, which is expected to operate at a net loss in 1998, has a
separate income tax rate than that of the Company's U.S. operations. Interim
reporting requirements for applying the separate, annual effective income tax
rates to U.S. and Canadian operations, combined with the seasonal impact of
operations, will cause significant variations in the Company's quarterly
consolidated effective income tax rates.
"There is no impact on full-year net income or earnings per share as a
result of this interim reporting requirement," Steven B. Hildebrand, Vice
President and Chief Financial Officer of Dollar Thrifty Automotive Group, said.
Dollar Thrifty Automotive Group, Inc. consists of Dollar Rent A Car and
Thrifty Car Rental. The Dollar and Thrifty systems have worldwide locations in
approximately 75 countries including 891 corporate and franchised locations in
the United States and Canada. The companies provide car rental services
primarily to value-conscious discretionary and leisure travelers. Dollar has
on-airport locations at major airports throughout the United States with a
focus on serving the leisure and international tour business. Thrifty serves
both the airport and local car rental markets and is a leading lessor of rental
vehicles to car rental franchisees in North America.
