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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
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 9, 1994
LDI CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-15994 31-1179824
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(State or other (Commission (IRS Employer
jurisdiction) File Number) Identification No.)
One Cleveland Center, Cleveland, Ohio 44114
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (216) 687-0100
Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS. On March 9, 1994, LDI Corporation ("LDI")
issued a press release which stated the following:
LDI CORPORATION INITIATING STRATEGIC BUSINESS REVIEW
CLEVELAND, OHIO--For release at 11:00 a.m. on March 9, 1994--LDI
Corporation (NASDAQ:LDIC) today announced that it recently retained Bear,
Stearns & Co. to assist LDI's senior management in a comprehensive strategic
business review of the Company. The objective of the review is to identify and
recommend appropriate action for "non-core" business units, to evaluate the
benefits of facilities consolidation, and to develop other measures to improve
the Company's profitability. The overall process is designed to enhance
shareholder value while maintaining LDI's solid liquidity position.
In the first step of this process, the Company also announced that it
has decided to exit the personal computer (PC) superstore segment of its
business. The Company has retained an inventory management consultant, Great
American Asset Management/Hilco Trading Company, to assist in selling the
inventory and managing the closing of its three personal computer superstores.
LDI operates two superstores in the Greater Cleveland area and one in the
Pittsburgh area. The superstore sales account for approximately 10 percent of
the Company's total revenues, and 3 percent of its total assets.
A spokesman for the consultant stated that the stores will remain open
throughout the sale process. Robert S. Kendall, LDI chairman and chief
executive officer, said, "When we entered the PC superstore business in late
1991, we saw an opportunity to secure a favorable regional position in retail
personal computer sales. Since that time, new entrants and continued price
erosion in the retail PC business have led us to conclude that the financial
returns available in the retail market are no longer acceptable."
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The Company also announced that it would release its fourth quarter
and full-year results for the periods ended January 31, 1994, in several weeks,
and that such results would include the effects of actions taken in response to
the strategic business review.
LDI Corporation is a broadly based, technology integration company.
The Company distributes and remarkets, through lease and sale transactions, a
wide variety of information processing and communications equipment, including
mainframe and mid-range computers, telecommunications systems, microcomputers,
point-of-sale systems, local area networks, medical equipment and selected
high-technology and other capital equipment. LDI also provides a comprehensive
range of technical support services associated with such equipment, including
engineering, system integration, network design, technology consulting,
maintenance and refurbishment services.
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.
LDI CORPORATION
By: /s/ Jerry E. Kish
Executive Vice President and
Chief Financial Officer
Date: March 18, 1994
