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) December 30, 1996
LYNCH CORPORATION
(Exact name of Registrant as specified in its charter)
Indiana 1-106 38-1799862
(State or other jurisdiction of) (Commission (IRS Employer
File Number) Identification No.)
8 Sound Shore Drive, Suite 290, Greenwich, Connecticut 06830
(Address of principal executive offices) (Zip Code)
(203) 629-3333
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On December 30, 1996, Registrant's approximately 50% owned
subsidiary, The Morgan Group, Inc. (AMEX: MG) ("Morgan") acquired the
operating assets of Transit Homes of America, Inc. ("Transit"), a
privately held company based in Boise, Idaho. Transit, with more than 400
independent contract drivers, provides transportation services to a number
of producers in the manufactured housing industry.
The purchase price was approximately $4.3 million, including assumed
obligations. In addition, $1.1 million of incentive payments can be
earned by the seller based upon the profitability of Morgan's manufactured
housing business. The purchase was financed with borrowing under Morgan's
credit lines and seller notes. For the nine months ended September 30,
1996, and the calendar year ended December 31, 1995, Transit had sales of
$27 million and $40 million, respectively. Pretax income for the nine
months ended September 30, 1996 amount to $307,000 and the pretax loss for
the year ended December 31, 1995 amount to $1.4 million.
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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.
LYNCH CORPORATION
Date: January 14, 1997 By: /s/ Robert E. Dolan
Robert E. Dolan
Chief Financial Officer<PAGE>
