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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): March 3, 1998
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Pioneer-Standard Electronics, Inc.
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(Exact name of registrant as specified in its charter)
Ohio 0-5734 34-0907152
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
4800 East 131st Street, Cleveland, Ohio 44108
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 587-3600
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Item 5. Other Events.
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The Company issued a news release on March 3, 1998, a copy of
which is filed as Exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
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(c) Exhibits.
99 News Release dated March 3, 1998, from the Company.
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SIGNATURE
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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.
PIONEER-STANDARD ELECTRONICS, INC.
Date: March 3, 1998 By: /s/John V. Goodger
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John V. Goodger
Vice President and Treasurer
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EXHIBIT INDEX
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Exhibit Description of Exhibit
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99 News Release dated March 3, 1998
from the Company
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Exhibit 99
PIONEER-STANDARD ELECTRONICS FORESEES LOWER EARNINGS IN FOURTH QUARTER
FY '98 ENDING MARCH 31, 1998
CLEVELAND, Ohio - March 3, 1998 - Pioneer-Standard Electronics, Inc.
(Nasdaq:PIOS) today announced that sales and earnings per share for
the company's fourth fiscal quarter ending March 31, 1998, are expected to be
below analysts' expectations. The company anticipates earnings for the
fourth quarter to be in the range of $.24 to $.31 per share, compared with
third quarter's $.31 per share, and consensus analyst earnings estimates of
approximately $.33 per share for the fourth quarter.
The company noted that sales in the first two months of the current quarter were
adversely impacted by customer uncertainty and deferrals of orders given current
industry and market conditions.
"Revenues have been softer than anticipated and margins are being squeezed as
the industry works through market consolidation and shifting trends in the
marketplace," stated Pioneer-Standard Chairman and Chief Executive Officer
James L. Bayman. "This is particularly evident in Pioneer's computer systems
business where customers have become cautious in placing orders. We currently
anticipate this market pause to continue into the summer," he added.
Pioneer-Standard is a leading distributor of a broad range of industrial
electronic components and computer system products supplied by more than 100
manufacturers. Customers include original equipment manufacturers, value-added
resellers, commercial end-users and other organizations throughout North
America. Pioneer recorded fiscal year 1997 revenues of $1.5 billion for
the period ended March 31, 1997. Additional information about Pioneer and its
business partners can be found on the World Wide Web at http://www.pios.com.
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Portions of this release contain current management expectations which may
constiture forward-looking information. The Company's performance may differ
materially from that contemplated by such statements for a variety of reasons,
including, but not limited to: competition, vagaries in the computer and
semiconductor market, as well as dynamic technology changes with key suppliers,
and other risks detailed in the company's Form 10-K for the year ended March
31, 1997, particularly in the section entitled "Certain Factors that May Affect
Future Results."
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