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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) May 21, 1998
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Stevens International, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-9603 75-2159407
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5500 Airport Freeway, Fort Worth, Texas 76117
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (817) 831-3911
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ITEM 4. CHANGES IN THE REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) On May 21, 1998, Stevens International, Inc. (the "Company") dismissed
Deloitte & Touche LLP ("Deloitte & Touche") as its principal independent
accountants. The decision to dismiss Deloitte & Touche was approved by the
Company's Board of Directors as well as the Audit Committee of the Board of
Directors. Deloitte & Touche's report on the Company's financial statements for
each of the fiscal years ended December 31, 1997 and 1996 did not contain an
adverse opinion or disclaimer of opinion. However, such reports were qualified
or modified as to uncertainties involving factors raising substantial doubt
about the Company's ability to continue as a going concern. There were no
adjustments in the consolidated financial statements that might result from the
outcome of this uncertainty.
During the Company's past two fiscal years and the periods following
December 31, 1997, there were no disagreements between the Company and Deloitte
& Touche on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure which if not resolved to the
satisfaction of Deloitte & Touche would have caused it to make reference to the
subject matter(s) of the disagreement(s) in connection with its reports.
A letter from Deloitte & Touche confirming the statements contained in
this Item 4(a) is filed as an exhibit to this Current Report on Form 8-K.
(b) On May 21, 1998, the Company retained Grant Thornton LLP to serve as
the Company's principal independent accountants. During the Company's past two
fiscal years and the periods following December 31, 1997, the Company did not
consult Grant Thornton LLP regarding the application of accounting principles to
a specified transaction or the type of audit opinion that might be rendered on
the Company's financial statements.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
(16) Letter re change in certifying accountant. *
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* Filed herewith.
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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 hereunto duly authorized.
STEVENS INTERNATIONAL, INC.
Date: May 26, 1998 By: /s/ George A. Wiederaenders
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George A. Wiederaenders
Vice President, Treasurer, and
Chief Accounting Officer
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INDEX TO EXHIBITS
SEQUENTIALLY
EXHIBIT NUMBERED
NUMBER EXHIBIT PAGE
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16 Letter re change in certifying accountant. *
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* Filed herewith.
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EXHIBIT 16
[LETTERHEAD]
May 28, 1998
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Dear Sirs/Madams:
We have read and agree with the comments in Item 4(a) of Form 8-K of Stevens
International, Inc. dated May 21, 1998.
Yours truly,
DELOITTE & TOUCHE LLP
