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): June 21, 2000
EXCEL TECHNOLOGY, INC.
................................................
(Exact name of registrant as specified in charter)
Delaware 0-19306 11-2780242
.............. ........... .................
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) identification No.)
incorporation)
41 Research Way, E. Setauket, New York 11733
............................................
(Address of principal executive offices)
Registrant's telephone number, including area code: (631) 784-6100
..............
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS
(a) Former independent accountants
(i) On June 21, 2000, Excel Technology, Inc. (the
"Registrant") dismissed KPMG LLP ("KPMG") as its
independent accountants, and appointed Ernst &
Young, LLP ("Ernst") as its new independent
auditors. The decision to discontinue the services
of KPMG was approved by the Registrant's Board of
Directors upon the recommendation of the
Registrant's Audit Committee.
(ii) The reports of KPMG on the Registrant's financial
statements for the past two years contained no
adverse opinion or disclaimer of opinion, and were
not qualified or modified as to uncertainty, audit
scope, or accounting principles.
(iii) During the Registrant's two most recent fiscal years
and through June 21, 2000, there has been no
disagreement with KPMG on any matter of accounting
principles or practices, financial statement
disclosure, or auditing scope or procedure, which
disagreement, if not resolved to the satisfaction of
KPMG, would have caused KPMG to make reference to the
subject matter of the disagreement in their report.
(iv) The Registrant has provided KPMG with a copy of this
disclosure and has requested that KPMG furnish the
Registrant with a letter addressed to the SEC stating
whether it agrees with the above statements. A copy
of the letter from KPMG, dated June 28, 2000, is
filed as Exhibit 16 to this Form 8-K.
(b) New independent accountants
(i) As stated above, on June 21, 2000, the Registrant
retained Ernst as independent auditors for the
Registrant for 2000.
(ii) The Registrant has not previously consulted with
Ernst on the application of accounting principles to
a specified transaction, or on the type of audit
opinion that might be rendered on the Registrant's
financial statements.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION
AND EXHIBITS
(c) Exhibits
16. The letter from KPMG, dated June 28, 2000.
SIGNATURE
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.
EXCEL TECHNOLOGY, INC.
Date: June 28, 2000 By: /s/ J. Donald Hill
...........................
J. Donald Hill, Chairman
and Chief Executive Officer
EXHIBIT INDEX
Exhibit No. Description
EX-16 Letter from KPMG LLP dated June 28, 2000 regarding
termination of appointment as principal accountants for
Excel Technology, Inc.
EXHIBIT 16
KPMG LLP
1305 Walt Whitman Road
Suite 200
Melville, NY 11747-4302
June 28, 2000
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Excel Technology, Inc.
("Excel") and, under the date of January 21, 2000, we reported on the
consolidated financial statements of Excel and subsidiaries as of and for
the years ended December 31, 1999 and 1998. On June 21, 2000, our
appointment as principal accountants was terminated. We have read
Excel's statements included under Item 4(a) of its Form 8-K dated June
28, 2000, and we agree with such statements, except that we are not in a
position to agree or disagree with Excel's statement that the change in
auditors was recommended by the Audit Committee of the Board of Directors
and approved by the Board of Directors.
Very truly yours,
/s/ KPMG LLP
..................
KPMG LLP
