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): June 21, 1995
OGDEN CORPORATION
(Exact name of registrant as specified in the charter)
Delaware 1-3122 13-5549268
State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of Incorporation)
Two Pennsylvania Plaza New York, New York 10121
Registrant's telephone number, including area code: (212) 868-6100
NONE
(Former name or former address, if changed since last report)
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Item 5. Other Events
On June 21, 1995 Ogden Corporation ("Ogden") announced to
the public that a unit of its Technology Services group will take
an after-tax charge in the range of $8 to $10 million, or $.16 to
$.20 per share during the second quarter ending June 30, 1995.
This event is not expected to have an impact on Ogden's results in
the third and fourth quarter.
A copy of the Ogden release is attached to this report as
Exhibit (1).
Item 7. Financial Statements and Exhibits
(a) Financial Statements of business acquired: Not
Applicable
(b) Pro forma financial information: Not Applicable
(c) Exhibits:
(1) Press Release of Ogden Corporation dated June
21, 1995.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this registration statement to
be signed on its behalf by the undersigned,thereto duly authorized.
OGDEN CORPORATION
Dated: June 26, 1995 By: /S/ Philip G. Husby
Philip G. Husby
Senior Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT (1)
OGDEN TO TAKE ONE-TIME CHARGE IN SECOND QUARTER
New York, N.Y., June 21, 1995 - Ogden Corporation (Ogden)
announced today that a unit of its Technology Services group, Ogden
Communications, Inc. ("OCI"), will take an after-tax charge in the
range of $8 to $10 million, or $.16 to $.20 per share during the
second quarter ending June 30, 1995. This charge includes the
write-off of receivables and related costs recorded in connection
with a project for the assembly and installation of
telecommunications equipment, as well as a reduction in the
carrying value of other inventory acquired by this unit. Following
a recent review of this unit, Ogden management concluded that
contracts and other documentation do not provide a basis for
recovering the full value of amounts related to the
telecommunications project and that it is unlikely that the full
value of the other inventory acquired by this unit will be
realized. Operating and financial management of OCI have been
relieved of their duties, and activities of this unit have been
curtailed pending the results of further investigation by Ogden.
This event is not expected to have an impact on Ogden's
results in the third and fourth quarters. The company expects to
report second quarter earnings during the first week in August.
Ogden Corporation is a leading global service company focusing
on entertainment, aviation, waste-to-energy, power generation and
water/wastewater treatment services. Common stock of Ogden (OG) is
traded on the New York Stock Exchange.
