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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
August 24, 1999
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Date of Report (Date of earliest event reported)
Harvard Industries, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-21362 21-0715310
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3 Werner Way, Lebanon, New Jersey 08833
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (908) 437-4100
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Item 5. Other Events.
HARVARD INDUSTRIES, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30, 1998
(IN THOUSANDS OF DOLLARS, EXCEPT SHARE AND PER SHARE DATA)
The following table summarizes unaudited pro forma financial information as
if our plan of reorganization in bankruptcy had become effective on October 1,
1997. The unaudited pro forma financial information contains adjustments for
depreciation expense, interest expense and the amortization of reorganization
value in excess of amounts allocable to identifiable assets. The unaudited pro
forma financial information does not purport to be indicative of the results
which would have been obtained had the plan been effective as of October 1,
1997, or which may be obtained in the future.
<TABLE>
<CAPTION>
PRO FORMA
1998 ADJUSTMENTS AS ADJUSTED
-------- ----------- -----------
<S> <C> <C> <C>
Sales...................................................................... $690,076 $ 690,076
Costs and expenses
Cost of sales............................................................ 656,243 (15,496) 640,747
Selling, general and administrative expenses............................. 66,546 66,546
Amortization of intangible assets........................................ 1,584 61,200 62,784
Impairment of long-lived assets and restructuring costs.................. 10,842 10,842
Interest expense......................................................... 14,231 (2,066) 12,165
Gain on sale of operations............................................... (28,673) (28,673)
Other expense............................................................ 3,980 3,980
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Total costs and expenses.............................................. 724,753 43,638 768,391
Loss from operations before reorganization items and income taxes.......... (34,677) (43,638) (78,315)
Reorganization items....................................................... 14,920 (14,920) 0
Provision for income taxes................................................. 6,207 6,207
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Net loss................................................................... $(55,804) $ (28,718) $ (84,522)
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Basic and diluted earnings per share....................................... $ (10.26)
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Weighted average number of common and common equivalent shares
outstanding.............................................................. 8,240,295
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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.
Date: August 23, 1999 HARVARD INDUSTRIES, INC.
By: /s/ Roger G. Pollazzi
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Name: Roger G. Pollazzi
Title: Chairman and Chief
Executive Officer
