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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): April 22, 1998
AVONDALE INCORPORATED
(Exact name of registrant as specified in its charter)
GEORGIA 33-68412 58-0477150
(State of incorporation) (Commission File Number) (I.R.S. employer
identification no.)
506 SOUTH BROAD STREET
MONROE,GEORGIA 30655
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (770) 267-2226
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(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
At a meeting held on April 22, 1998, the audit committee of the Board of
Directors of the Company approved the engagement of Arthur Andersen LLP as its
independent auditors for the fiscal year ending August 28, 1998. The Audit
Committee recommended the engagement which was approved by the Board of
Directors. Concurrently, the audit committee of the Board of Directors
determined to dismiss Ernst & Young LLP, the Company's former independent
auditors. The Company notified both Ernst & Young LLP and Arthur Andersen LLP of
the dismissal of Ernst & Young LLP and the engagement of Arthur Andersen LLP on
April 23, 1998.
The reports of Ernst & Young LLP on the Company's consolidated financial
statements for the past two fiscal years did not contain an adverse opinion or a
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope, or accounting principles, nor was there any event of the type
requiring disclosure under Item 304(a)(1)(v) of Regulation S-K.
In connection with the audits of the Company's consolidated financial statements
for each of the two fiscal years ended August 29, 1997, and in the subsequent
interim period, there were no disagreements with Ernst & Young LLP on any
matters of accounting principles or practices, financial statement disclosure,
or auditing scope and procedures which, if not resolved to the satisfaction of
Ernst & Young LLP would have caused Ernst & Young LLP to make reference to the
matter in their report.
The Company has provided Ernst & Young LLP with a copy of the disclosures
contained in this report, and has requested Ernst & Young LLP to furnish it a
letter addressed to the Commission stating whether it agrees with the above
statements. A copy of that letter, dated April 29, 1998 is filed as Exhibit 16.
The Company confirms that neither it nor anyone acting on its behalf has
consulted Arthur Andersen LLP regarding any of the matters referred to in Item
304(a)(2) of Regulation S-K prior to their engagement.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
16 Ernst & Young LLP letter to the Securities and Exchange
Commission dated April 29, 1998.
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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.
Date: April 29, 1998 AVONDALE INCORPORATED
By: /s/ Jack R. Altherr, Jr.
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Jack R. Altherr, Jr.
Vice President and
Chief Financial Officer
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INDEX TO EXHIBITS
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Exhibit Number and Description Page
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16. Ernst & Young LLP letter to the Securities and Exchange Commission dated
April 29, 1998................................................................
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[Letterhead]
EXHIBIT 16 TO FORM 8-K
APRIL 29, 1998
Securities and Exchange Commission
450 Fifth Street, N.E.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated April 22, 1998, of Avondale Incorporated
and are in agreement with the statements contained in the second, third and
fourth paragraphs on the page 1 therein. We have no basis to agree or disagree
with other statements of the registrant contained therein.
/s/ Ernst & Young LLP
