===========================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------
FORM 10-K/A
------------------
Annual Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the fiscal year ended December 31, 1997
COMMISSION FILE NO. 1-4474
------------------
OAK INDUSTRIES INC.
(Exact name of Registrant as specified in its charter)
<TABLE>
<S> <C>
DELAWARE 36-1569000
(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification Number)
1000 WINTER STREET
WALTHAM, MASSACHUSETTS 02154
(Address of principal executive offices) (Zip Code)
</TABLE>
(781) 890-0400
(Registrant's telephone number, including area code)
SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
<TABLE>
<CAPTION>
NAME OF EACH EXCHANGE
TITLE OF EACH CLASS ON WHICH REGISTERED
<S> <C>
Common Stock, $0.01 par value, together with New York Stock Exchange
Junior Preferred Stock Purchase Rights Pacific Exchange, Inc.
</TABLE>
Securities registered pursuant to Section 12(g) of the Act:
NONE
(Title of class)
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days: Yes No X
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of Registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form
10-K or any amendment to this Form 10-K [X].
The aggregate market value of Registrant's Common Stock held by
persons who are not affiliates of Registrant was $567,378,305 on April 6,
1998.
The Registrant had 17,936,227 shares of Common Stock, $0.01 par value,
issued and outstanding on April 6, 1998.
Documents Incorporated by Reference
Proxy Statement to be filed no later
than March 31, 1998 Part III, Items 10-13
===========================================================================
<PAGE>
OAK INDUSTRIES INC.
FORM 10-K/A
AMENDMENT NO. 1
The undersigned registrant hereby amends Item 6, Selected Financial
Data, of its Annual Report for the fiscal year ending December 31, 1997 on
Form 10-K as set forth in the page attached hereto.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
OAK INDUSTRIES INC.
Dated: April 10, 1997 By: COLEMAN S. HICKS
(Coleman S. Hicks)
Senior Vice President and
Chief Financial Officer
<PAGE>
ITEM 6. SELECTED FINANCIAL DATA
FINANCIAL RESULTS
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
--------------------------------------------------------------------
1993 1994 1995 1996 1997
----------- ----------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Net sales.......................... $ 204,417 $ 230,894 $ 255,364 $ 303,536 $ 314,388
Purchased in-process research and
development expense............. -- -- 80,872 -- --
Operating income (loss)............ 29,815 44,113 (27,897) 46,987 47,232
Interest expense................... 6,973 5,906 6,273 5,767 10,973
Income (loss) from continuing
operations before income
taxes, minority interest
and extraordinary charge........ 25,246 41,840 (30,926) 62,012 36,685
Income (loss) from continuing
operations...................... 25,710 41,041 (52,983) 31,976 21,736
Net income (loss).................. 26,660 42,446 (52,124) 41,836 21,736
Earnings per share - basic
Income (loss) from continuing
operations................... 1.55 2.37 (3.02) 1.77 1.22
Net income (loss)............... 1.61 2.46 (2.98) 2.32 1.22
Earnings per share - diluted
Income (loss) from continuing
operations................... 1.42 2.23 (3.02) 1.71 1.20
Net income (loss)............... 1.47 2.31 (2.98) 2.24 1.20
Cash dividends per share........... -- -- -- -- --
FINANCIAL POSITION
Working capital.................... $ 64,772 $ 67,544 $ 73,168 $ 79,019 $ 84,818
Plant and equipment, net........... 33,084 36,253 53,074 65,026 69,425
Total assets....................... 231,201 279,800 312,544 374,285 387,790
Long-term debt, net of current
maturities...................... 57,349 34,403 91,570 138,161 151,465
Total stockholders' equity......... 126,919 167,150 119,213 171,723 182,154
GENERAL STATISTICS
Capital expenditures............... $ 6,946 $ 6,723 $ 16,942 $ 23,205 $ 14,697
Depreciation....................... $ 6,037 $ 6,569 $ 7,694 $ 10,028 $ 12,287
Amortization of intangible assets.. $ 2,413 $ 2,372 $ 2,760 $ 3,609 $ 5,835
Weighted average shares
outstanding (000s):
Basic........................... 16,605 17,282 17,520 18,043 17,837
Diluted......................... 18,100 18,371 17,520 18,684 18,108
Number of holders of record
(at year-end).................... 9,732 8,346 7,144 6,312 5,717
Number of employees (at year-end)... 2,549 2,776 2,931 2,944 3,373
Salaries and wages.................. $ 54,951 $ 60,054 $ 65,543 $ 79,433 $ 85,681
</TABLE>
