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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
September 8, 1998
Date of report (date of earliest event reported)
RELTEC CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 333-44277 94-3227019
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(State or other jurisdiction of Commission File Number (I.R.S. Employer
incorporation or organization) Identification Number)
5900 Landerbrook Drive, Suite 300, Cleveland, Ohio 44124-4019
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(Address of Principal Executive Offices) (Zip Code)
(440) 460-3600
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
See the press release, dated September 8, 1998, of RELTEC Corporation attached
hereto as Exhibit 1.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
The following documents are furnished as Exhibits to this Current Report on Form
8-K pursuant to General Instruction F of Form 8-K:
1. Press release, dated September 8, 1998.
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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 hereunto duly authorized.
RELTEC Corporation
Date: September 21, 1998
By: /s/ Valerie Gentile Sachs
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Name: Valerie Gentile Sachs
Title: Vice President, General
Counsel and Secretary
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EXHIBIT INDEX
Exhibit No. Document Description
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1. Press release, dated September 8, 1998, of RELTEC Corporation.
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Exhibit 99.1
[RELTEC LOGO] RELTEC Corporation NEWS RELEASE
5900 Landerbrook Drive
Suite 300
Cleveland, OH 44124-4019
FOR FURTHER INFORMATION, CONTACT:
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Name: Scott Fine
Title: Vice President, Finance
Phone: 440-460-3728
E-Mail: [email protected]
FOR RELEASE
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Date: 9/08/98
RCT-054-998
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RELTEC INDICATES THIRD QUARTER RESULTS LIKELY TO BE
BELOW CURRENT STREET EXPECTATIONS
CLEVELAND, OH September 8, 1998 RELTEC Corporation (NYSE: RLT) today
announced that third quarter financial results will not meet published analyst
expectations, principally as a result of the impact of three extraordinary
issues and circumstances that are viewed as unique to 1998's third quarter.
First, threatened and actual labor strikes at several major U.S.
telecommunications carriers disrupted planning and construction during July and
August. The Company sees this impact dissipating with the resolution of these
contracts. Second, seasonally abnormal weather in the southern U.S. shifted some
major account activity away from construction and into maintenance and repair of
existing lines. The Company sees this trend returning to a normal seasonal mix
in the fourth quarter. Third, RELTEC experienced a third quarter capacity
shortfall in part of its Network Components business. The Company expects this
capacity problem to be rectified by the beginning of the fourth quarter.
"Although the third quarter will be a disappointment due to some unusual events
and circumstances, the underlying dynamics of our business and our customer
positions remain strong," said Dudley P. Sheffler, President and Chief Executive
Officer of RELTEC. "We see fourth quarter market activity returning to near
expected levels. We continue to develop new customer positions, particularly in
our Access business, and are building on existing positions across all of our
segments. This account momentum continues to give us confidence and enthusiasm
about the near-term and long-term prospects of our business."
RELTEC announced that it currently expects to generate net sales of between $245
and $255 million during the third quarter, and GAAP earnings per share before
non-recurring items of between $0.06 and $0.08. RELTEC expects to report
results for the third quarter on or about October 20, 1998.
RELTEC is a leader in the design, manufacture and sale of a broad range of
telecommunications systems, products and services. Its Access Systems,
Integrated Wireless Solutions and Network Components and Services are sold to
wireline and wireless service providers and OEMs around the globe. RELTEC
operates manufacturing plants in North America, Europe, Asia/Pacific and Latin
America with over 5,900 employees worldwide. Additional information is available
on the Company's website at www.relteccorp.com.
THE STATEMENTS CONTAINED IN THIS PRESS RELEASE THAT ARE NOT HISTORICAL FACTS ARE
TO BE CONSIDERED FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS
INVOLVE MANY RISKS AND UNCERTAINTIES,
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INCLUDING BUT NOT LIMITED TO, RAPID TECHNOLOGICAL CHANGE, THE IMPORTANCE OF NEW
PRODUCTS, UNCERTAIN MARKETS FOR THE COMPANY'S SYSTEMS AND PRODUCTS,
UNPREDICTABLE SALES CYCLES, COMPETITION, A CHANGING REGULATORY ENVIRONMENT,
CUSTOMER CONCENTRATION AND NUMEROUS OTHER RISKS WHICH HAVE BEEN SET FORTH IN
DOCUMENTS FILED BY THE COMPANY WITH THE SECURITIES AND EXCHANGE COMMISSION. THE
COMPANY ADVISES THE READER OF THESE STATEMENTS THAT ACTUAL RESULTS OR CONDITIONS
MAY DIFFER MATERIALLY FROM THOSE SET FORTH HEREIN.
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