<PAGE> 1
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 November 5, 1996
the Harper Group, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-8664 94-1740320
(State or other jurisdiction of (Commission I.R.S. Employer
incorporation or organization) File Number) Identification No.)
260 Townsend Street,
San Francisco, California 94107
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (415) 978-0600
Inapplicable
(Former name, former address and former fiscal year if changed from last
report.)
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Item 5. Other Events
The following disclosure is made in anticipation of an investor conference.
Business segment information
- ----------------------------
The Company operates in the international freight forwarding industry,
which encompasses air freight forwarding, customs brokerage and other
value added logistics services, as well as ocean freight forwarding.
Certain information regarding the Company's operations by region is
summarized below.
<TABLE>
<CAPTION>
North Far Latin Other Elimi- Consol-
America Europe East America Areas Corporate nations idated
------- ------ ---- ------- ----- --------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
(unaudited, in thousands)
Three months ended September 30, 1996:
Revenue
from
customers $ 89,056 $ 32,386 $ 23,551 $ 3,976 $ 6,529 $ 0 $ 0 $ 155,498
Transfers
between
regions 804 750 865 1,074 554 0 (4,047) 0
------- ------- ------- ------ ------ ------- ------- --------
Total
revenue $ 89,860 $ 33,136 $ 24,416 $ 5,050 $ 7,083 $ 0 $ (4,047) $ 155,498
======= ======= ======= ====== ====== ======= ======= ========
Net
revenue $ 32,993 $ 15,980 $ 6,895 $ 2,698 $ 5,497 $ 0 $ 0 $ 64,063
======= ======= ======= ====== ====== ======= ======= ========
Income
(loss)
from
operat-
ions $ 6,317 $ 2,737 $ 1,752 $ 552 $ 1,004 $ (3,764) $ 0 $ 8,598
======= ======= ======= ====== ====== ======= ======= ========
Three months ended September 30, 1995:
Revenue
from
customers $ 70,824 $ 31,420 $ 26,291 $ 3,628 $ 6,116 $ 0 $ 0 $ 138,279
Transfers
between
regions 137 482 954 585 650 0 (2,808) 0
------- ------- ------- ------ ------ ------- ------- --------
Total
revenue $ 70,961 $ 31,902 $ 27,245 $ 4,213 $ 6,766 $ 0 $ (2,808) $ 138,279
======= ======= ======= ====== ====== ======= ======= ========
Net
revenue $ 27,512 $ 16,413 $ 6,193 $ 2,367 $ 5,027 $ 0 $ 0 $ 57,512
======= ======= ======= ====== ====== ======= ======= ========
Income
(loss)
from
operat
- -ions $ 5,107 $ 3,105 $ 1,145 $ 442 $ 963 $ (3,047) $ 0 $ 7,715
======= ======= ======= ====== ====== ======= ======= ========
Nine months ended September 30, 1996:
Revenue
from
customers $242,857 $ 97,070 $ 62,955 $ 12,348 $18,890 $ 0 $ 0 $ 434,120
Transfers
between
regions 2,042 1,964 2,462 2,220 1,491 0 (10,179) 0
------- ------- ------- ------- ------ ------- ------ --------
Total
revenue $244,899 $ 99,034 $ 65,417 $ 14,568 $20,381 $ 0 $(10,179) $ 434,120
======= ======= ======= ======= ====== ======= ======= ========
Net
revenue $ 90,291 $ 46,980 $ 18,810 $ 7,627 $15,583 $ 0 $ 0 $ 179,291
Income ======= ======= ======= ======= ====== ======= ======= ========
(loss)
from
operat
- -ions $ 15,442 $ 7,419 $ 3,966 $ 1,495 $ 2,763 $(10,000) $ 0 $ 21,085
======= ======= ======= ======= ====== ======= ======= ========
Nine months ended September 30, 1995:
Revenue
from
customers $212,377 $ 85,447 $ 70,146 $ 12,886 $17,362 $ 0 $ 0 $ 398,218
Transfers
between
regions 1,843 1,416 2,689 2,004 1,601 0 (9,553) 0
------- ------- ------- ------- ------ ------- ------- --------
Total
revenue $214,220 $ 86,863 $ 72,835 $ 14,890 $18,963 $ 0 $ (9,553) $ 398,218
======= ======= ======= ======= ====== ======= ======= ========
Net
revenue $ 78,462 $ 45,805 $ 17,868 $ 7,237 $14,186 $ 0 $ 0 $ 163,558
======= ======= ======= ======= ====== ======= ======= ========
Income
(loss)
from
operat
- -ions $ 14,780 $ 7,370 $ 2,559 $ 1,582 $ 2,773 $ (9,272) $ 0 $ 19,792
======= ======= ======= ======= ====== ======= ======= ========
</TABLE>
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Revenue by service
- ------------------
The Company's principal services are international air freight forwarding,
ocean freight forwarding, and customs brokerage and other value added
logistics services. The following table shows the revenue and net revenue,
in dollars and percentages, attributable to the Company's principal services
during the periods indicated. Revenue for air freight and ocean freight
consolidations (indirect revenue) includes the cost of such freight.
Revenue for air freight and ocean freight agency or direct shipments,
customs brokerage and import services, includes fees or commissions for
these services. A comparison of net revenue best measures the relative
importance of the Company's principal services.
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30 September 30
------------------ -----------------
1996 1995 1996 1995
---- ---- ---- ----
(unaudited, dollars in thousands)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Revenue
- -------
Air freight
forwarding $ 99,544 64% $ 84,104 61% $ 274,227 63% $ 253,253 64%
Ocean freight
forwarding 25,707 17% 26,207 19% 75,548 17% 68,035 17%
Customs brokerage
and other 30,247 19% 27,968 20% 84,345 20% 76,930 19%
-------- --- -------- --- -------- --- -------- ---
$ 155,498 100% $ 138,279 100% $ 434,120 100% $ 398,218 100%
======== === ======== === ======== === ======== ===
Net Revenue
- -----------
Air freight
forwarding $ 24,832 39% $ 21,366 37% $ 69,444 39% $ 63,620 39%
Ocean freight
forwarding 8,984 14% 8,178 14% 25,502 14% 23,008 14%
Customs brokerage
and other 30,247 47% 27,968 49% 84,345 47% 76,930 47%
-------- --- -------- --- -------- --- -------- ---
$ 64,063 100% $ 57,512 100% $ 179,291 100% $ 163,558 100%
======== === ======== === ======== === ======== ===
</TABLE>
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S I G N A T U R E S
-------------------
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.
THE HARPER GROUP, INC.
---------------------
Registrant
Date: November 5, 1996
/S/Peter Gibert
---------------------------
Peter Gibert, President and
Chief Executive Officer
/S/Robert J. Diaz
------------------------------
Robert J. Diaz, Senior Vice President
and Chief Financial Officer
