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): October 18, 1996
GILBERT ASSOCIATES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-12588 23-2280922
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organizational) File Number) Identification No.)
P. O. BOX 1498, READING, PENNSYLVANIA 19603
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (610) 856-5500
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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 thereunto duly authorized.
GILBERT ASSOCIATES, INC.
Date: October 18, 1996
/s/Paul H. Synder
Paul H. Snyder
Vice President and
Chief Financial Officer
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GILBERT ASSOCIATES REPORTS FAVORABLE RESOLUTIONS ON
OUTSTANDING LITIGATION
Reading, PA, October 18, 1996 -- Gilbert Associates, Inc.
(Nasdaq/NMS: GILBA) reported today that the Company and its
former subsidiary have reached a settlement on a $12 million
verdict arising from a contract dispute brought by Alaska-
based Geolar, Inc. involving the former subsidiary's
construction management work performed for Alaska-based
Homer Electric Association. The settlement was effective
September 27, 1996 and calls for the companies to be
released from all liabilities in exchange for assignment of
Gilbert Associates' insurance rights to the Plaintiffs. As a
result of this settlement, the Alaska Trial Court released
the $15,306,814 security bond which Gilbert Associates had
posted in December, 1995. This settlement has had no impact
on the Company's results of operations.
In an unrelated matter, Gilbert reported that it has
settled an age discrimination case involving an employee of
a former subsidiary for less than the amount previously
reported as reserved by the company. As a result, the
excess reserve will be reversed in the third quarter of 1996
and will increase earnings by $435,000 or $.07 per share.
Gilbert Associates, Inc. is a leading
telecommunications equipment and services company with
subsidiaries that support public, private and wireless
communication network operators.
