UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) April 10, 2000
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EA ENGINEERING, SCIENCE, AND TECHNOLOGY, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-15587 52-0991911
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(State or Other Jurisdiction (Commission I.R.S. Employer ID Number
of Incorporation or File Number)
Organization)
11019 McCormick Road, Hunt Valley, Maryland 21031
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code 410/584-7000
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Item 5. Other Events.
On April 10, 2000, EA Engineering, Science, and Technology, Inc. (the "Company")
issued the following press release:
EA CONCLUDES INVESTIGATION OF ACCOUNTING IRREGULARITIES
Will Restate Earnings for Fiscal Years 1999 and 1998
Contacts: Melissa L. Kunkel, Director of Marketing and Communications
Tel. (410) 527-2442 Fax (410) 771-9148
World Wide Web Site: http://www.eaest.com
For Release: Immediately upon receipt
BALTIMORE, MARYLAND, April 10, 2000... EA Engineering, Science, and Technology,
Inc. (NASDAQ: EACO), today announced that the previously disclosed investigation
of accounting irregularities has been concluded. The results of the
investigation, conducted in association with the Company's current auditors,
PricewaterhouseCoopers LLP, have isolated the restatements to fiscal years 1999
and 1998. As previously disclosed, the cumulative effect of the restatements
will reduce earnings on a pre-tax basis by $1.4 million, or $0.14 per share
after tax.
On April 7, 2000, Arthur Andersen LLP, who served as the Company's auditors
through August 31, 1999, notified the Company by letter that its previously
issued reports on the financial statements of the Company for the years ended
August 31, 1999 and 1998 should no longer be relied upon. The Company has
retained PricewaterhouseCoopers, LLP, to conduct the financial audit, the
restatements of earnings, and the refiling of the Company's financial statements
for the affected accounting periods. The Company expects that restated and
audited historical financial statements will be issued by the filing of its
fiscal 2000 third quarter results.
EA Engineering, Science, and Technology, Inc. is an international consulting
firm specializing in the areas of energy, the environment, and health and
safety. Through a network of more than 20 offices, EA provides scientific,
engineering, economic, analytical, and management solutions for its corporate,
utility, municipal, and Federal government clients.
Certain of the statements contained in this news release are forward-looking
statements that involve risks and uncertainties, such as those related to the
Company's contracts and other business risks, including general economic
conditions, the effects of the Company's restructuring, and industry-wide market
factors, as detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
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 hereunto duly authorized.
EA Engineering, Science, and Technology, Inc.
Registrant
Date: April 10, 2000 By: /s/ Barbara L. Posner
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Barbara L. Posner
Chief Financial Officer
