<PAGE> 1
SCHEDULE 14A
(RULE 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
Filed by the registrant [X]
Filed by a party other than the registrant [ ]
Check the appropriate box:
[ ] Preliminary proxy statement [ ] Confidential, for Use of the
Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive proxy statement
[ ] Definitive additional materials
[ ] Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12
DT Industries, Inc.
- --------------------------------------------------------------------------------
(Name of Registrant as Specified in Its Charter)
- --------------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of filing fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
(1) Title of each class of securities to which transaction applies:
- --------------------------------------------------------------------------------
(2) Aggregate number of securities to which transaction applies:
- --------------------------------------------------------------------------------
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee
is calculated and state how it was determined):
- --------------------------------------------------------------------------------
(4) Proposed maximum aggregate value of transaction:
- --------------------------------------------------------------------------------
(5) Total fee paid:
- --------------------------------------------------------------------------------
[ ] Fee paid previously with preliminary materials.
- --------------------------------------------------------------------------------
[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number, or
the form or schedule and the date of its filing.
(1) Amount previously paid:
- --------------------------------------------------------------------------------
(2) Form, schedule or registration statement no.:
- --------------------------------------------------------------------------------
(3) Filing party:
- --------------------------------------------------------------------------------
(4) Date filed:
- --------------------------------------------------------------------------------
<PAGE> 2
[DT INDUSTRIES LOGO]
---------------------------------
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
WEDNESDAY, NOVEMBER 10, 1999
---------------------------------
To the Stockholders of
DT Industries, Inc.
The Annual Meeting of Stockholders of DT Industries, Inc., a Delaware
corporation (the "Company"), will be held at the Sheraton Hawthorn Park Hotel,
2431 North Glenstone, Springfield, Missouri 65803 on Wednesday, November 10,
1999, at 10:00 a.m., Central Standard Time, for the following purposes:
(1) To elect directors to serve for terms of three years or until their
successors are elected and qualified;
(2) To ratify or reject the appointment of PricewaterhouseCoopers LLP as
independent auditors of the Company for the fiscal year ending June 25,
2000; and
(3) To transact such other business as may properly come before the meeting
or any adjournment thereof, according to the proxies' discretion and in
their discretion.
The foregoing items of business are more fully described in the Proxy
Statement accompanying this Notice.
Only stockholders of record at the close of business on September 30, 1999,
are entitled to notice of and to vote at the meeting.
Order of the Board of Directors,
/S/ DENNIS S. DOCKINS
Dennis S. Dockins
General Counsel and Secretary
Springfield, Missouri
October 8, 1999
PLEASE FILL OUT, DATE AND SIGN THE ENCLOSED PROXY FORM AND RETURN IT IN THE
ACCOMPANYING POSTAGE PAID ENVELOPE, EVEN IF YOU PLAN TO ATTEND THE MEETING. YOU
MAY REVOKE YOUR PROXY IN WRITING, OR AT THE ANNUAL MEETING IF YOU WISH TO VOTE
IN PERSON.
<PAGE> 3
DT INDUSTRIES, INC.
CORPORATE CENTRE, SUITE 2-300
1949 EAST SUNSHINE
SPRINGFIELD, MISSOURI 65804
---------------------------------
PROXY STATEMENT
---------------------------------
ANNUAL MEETING OF STOCKHOLDERS
WEDNESDAY, NOVEMBER 10, 1999
---------------------------------
SOLICITATION AND REVOCATION OF PROXIES
The enclosed proxy is solicited by the Board of Directors of DT Industries,
Inc., a Delaware corporation (the "Company"), for use at the Annual Meeting of
Stockholders (the "Annual Meeting") to be held at 10:00 a.m., Central Standard
Time, Wednesday, November 10, 1999, or at any adjournment thereof, for the
purposes set forth herein and in the accompanying Notice of Annual Meeting of
Stockholders. The Annual Meeting will be held at the Sheraton Hawthorn Park
Hotel, 2431 North Glenstone, Springfield, Missouri 65803. The proxy is revocable
at any time prior to its exercise by delivering to the Company a written notice
of revocation or a duly executed proxy bearing a later date or by attending the
Annual Meeting and voting in person.
This proxy material is first being sent to stockholders on or about October
8, 1999.
OUTSTANDING SHARES AND VOTING RIGHTS
Stockholders of record at the close of business on September 30, 1999 are
entitled to notice of and to vote at the Annual Meeting. As of the close of
business on that date, there were outstanding and entitled to vote 10,107,274
shares of common stock, $.01 par value ("Common Stock"), each of which is
entitled to one vote. No cumulative voting rights exist under the Company's
Restated Certificate of Incorporation. For information regarding the ownership
of the Company's Common Stock by holders of more than five percent of the
outstanding shares and by the management of the Company, see "Security Ownership
of Certain Beneficial Owners and Management."
For purposes of determining the presence of a quorum and counting votes on
the matters presented, shares represented by abstentions and "broker non-votes"
will be counted as present, but not as votes cast, at the Annual Meeting. Under
Delaware law and the Company's Amended By-laws, all matters expected to be
submitted for consideration at the Annual Meeting will be determined on the
basis of a percentage of votes cast at the Annual Meeting. All matters expected
to be brought before the meeting require the affirmative vote of the holders of
a majority of the Company's Common Stock represented and voting at the Annual
Meeting for approval.
ELECTION OF DIRECTORS
Pursuant to the Company's Restated Certificate of Incorporation, as
amended, the Board of Directors is divided into three classes (Class I, Class II
and Class III), with all classes as nearly equal in number as possible. One
class of directors is ordinarily elected at each Annual Meeting of the
Stockholders for a three-
2
<PAGE> 4
year term. The terms of the Class III directors expire at the Annual Meeting or
after their successors are duly elected and qualified. William H.T. Bush,
Charles A. Dill and Graham L. Lewis have been nominated by the Board for
election as Class III directors at the Annual Meeting for terms of three years
each or until their successors are duly elected and qualified.
The Board currently consists of eight members. During the fiscal year ended
June 27, 1999, the Board consisted of nine members. Frank W. Jones resigned from
the Board on August 4, 1999, and the Board thereafter reduced the number of
directors to eight. The stockholders will vote at the Annual Meeting for the
election of three directors. There are no family relationships among any
directors or executive officers of the Company.
The persons named in the enclosed proxy will vote for the election of the
nominees of the Board of Directors and for the terms designated below unless
authority to vote is withheld.
All nominees have consented to serve if elected. In the event that any of
the nominees should be unable to serve, the persons named in the proxy will vote
for such substitute nominee or nominees as they, in their discretion, shall
determine. The Board of Directors has no reason to believe that any nominee
named herein will be unable to serve. Except as set forth below, each of the
nominees and other directors has been engaged in his principal occupation
described below during the past five years.
The Board of Directors recommends voting "FOR" each of the nominees named
below.
The following material contains information concerning the nominees for
election as directors and the other directors of the Company.
NOMINEES FOR DIRECTORS
<TABLE>
<CAPTION>
CLASS III (TERM OF OFFICE EXPIRES IN 2002) AGE PRINCIPAL OCCUPATION DIRECTOR SINCE
- ------------------------------------------ --- -------------------- --------------
<S> <C> <C> <C>
William H.T. Bush........................ 61 Chairman of the Board of Bush, November 1995
O'Donnell & Co., Inc., St. Louis,
Missouri and Chairman of the Board
of National Auto & Casualty Co.,
Pasadena, California
Charles A. Dill.......................... 59 General Partner, Gateway Associates, November 1997
LP, St. Louis, Missouri
Graham L. Lewis.......................... 49 President--Packaging Group of the May 1997
Company, Springfield, Missouri
</TABLE>
CONTINUING DIRECTORS
<TABLE>
<CAPTION>
CLASS I (TERM OF OFFICE EXPIRES IN 2000) AGE PRINCIPAL OCCUPATION DIRECTOR SINCE
- ---------------------------------------- --- -------------------- --------------
<S> <C> <C> <C>
James J. Kerley........................ 76 Chairman of the Board of the Company, July 1992
Springfield, Missouri
Charles F. Pollnow..................... 67 Chairman of the Board, President and November 1995
Chief Executive Officer of Brulin
Corporation, Indianapolis, Indiana
John F. Logan.......................... 64 President--Automation Group of the May 1997
Company, Dayton, Ohio
</TABLE>
<TABLE>
<CAPTION>
CLASS II (TERM OF OFFICE EXPIRES IN 2001) AGE PRINCIPAL OCCUPATION DIRECTOR SINCE
- ----------------------------------------- --- -------------------- --------------
<S> <C> <C> <C>
Stephen J. Gore......................... 52 President and Chief Executive Officer February 1994
of the Company, Springfield, Missouri
Lee M. Liberman......................... 78 Chairman Emeritus of Laclede Gas May 1994
Company, St. Louis, Missouri
</TABLE>
3
<PAGE> 5
Mr. Bush has been Chairman of the Board of Bush, O'Donnell & Co., Inc., an
investment advisory and merchant banking firm located in St. Louis, Missouri
since 1986. Mr. Bush has also been Chairman of the Board of National Auto &
Casualty Insurance Co. located in Pasadena, California since 1996. Mr. Bush is
also a director of Mississippi Valley Bancshares, Inc., the Lord Abbett family
of mutual funds of New York, and Rite Choice Managed Care, Inc., a healthcare
provider located in St. Louis, Missouri.
Mr. Dill has been the general partner of Gateway Associates, L.P., a
venture capital firm located in St. Louis, Missouri, since November 1995. From
1991 until September 1995, Mr. Dill was President, Chief Executive Officer and a
Director of Bridge Information Systems, Inc., an on-line provider of financial
and trading data to institutional equity markets. From 1988 until 1990, Mr. Dill
was President and Chief Operating Officer of AVX Corporation, a global supplier
of capacitors to the electronics industry. From 1963 until 1988, Mr. Dill was
employed in various capacities (most recently as Senior Vice President) by
Emerson Electric Company. Mr. Dill is also a director of Zoltek Companies, Inc.,
Stifel Financial Corporation, Transact Technologies, Inc. and Pinnacle
Automation, Inc.
Mr. Lewis has been the President--Packaging Group of the Company since
December 1995. Prior to that time, Mr. Lewis was President of the Company's
Kalish business since its acquisition in 1995. From 1989 to 1995, he was the
President and majority stockholder of H.G. Kalish, Inc., certain assets of which
were acquired by the Company in 1995.
Mr. Kerley was elected a director of the Company in July 1992, and became
Chairman of the Board of the Company in May 1997. Mr. Kerley served as the
non-executive Chairman of the Board of Directors of Rohr, Inc. from January 1993
to December 1994 and served as its interim President and Chief Executive Officer
from January 1993 to April 1993. Mr. Kerley retired from Emerson Electric Co. at
the end of 1985 and has served on a number of boards of directors since that
time. While active in industry, he was, at various times, the Chief Financial
Officer of Emerson Electric Co., the Monsanto Company and TransWorld Airlines,
Inc. He serves on the board of directors of Atlantic Coast Airlines, Inc.,
Borg-Warner Automotive, Inc. and Goss Graphic Systems, Inc.
Mr. Pollnow has been the Chairman of the Board, President and Chief
Executive Officer of Brulin Corporation, a manufacturer of healthcare,
commercial and industrial products with headquarters in Indianapolis, Indiana,
since November 1987.
Mr. Logan has been the President--Automation Group of the Company since May
1997. From January 1996 through April 1997, he was the President--Assembly
Systems Group of the Company. Mr. Logan co-founded Advanced Assembly Automation,
Inc., ("AAA") in 1984 and served as its President from 1984 to 1996. AAA, a
subsidiary of the Company, was acquired in 1994. In September 1999, Mr. Logan
informed the Company of his intention to retire as President--Automation Group
as of December 31, 1999. Thereafter, Mr. Logan will remain on the Board as a
non-employee director.
Mr. Gore has been the President and Chief Executive Officer of the Company
since June 1993. From May 1992 through May 1993, Mr. Gore was President of the
Company and served as its Chief Financial Officer from October 1990 to August
1993. From January 1988 to September 1990, he served as Senior Vice President of
Finance of Harris-Adacom Corp. (a multinational manufacturer of data
communication products). Prior to that time, Mr. Gore, a certified public
accountant, served as Chief Financial Officer of Techamerica Group, Inc. (a
manufacturer of veterinary pharmaceuticals).
Mr. Liberman has served as Chairman Emeritus of, and a consultant to,
Laclede Gas Company, a natural gas utility, since January 1994. From 1976 to
January 1994, he served as Chairman of the Board and a director of Laclede Gas
Company and, from 1974 to August 1991, as its Chief Executive Officer. Mr.
Liberman has served as a director of CPI Corporation since 1975, Falcon Products
since 1982 and Furniture Brands International since 1985.
4
<PAGE> 6
BOARD MEETINGS--COMMITTEES OF THE BOARD
The Board of Directors met nine times during the fiscal year ended June 27,
1999. The Board of Directors presently maintains an Executive Committee, an
Executive Compensation and Development Committee, an Audit and Finance Committee
and a Nominating Committee.
The Executive Committee consists of Messrs. Kerley, Bush, Gore and Liberman
and exercises all powers of the Board of Directors, to the extent permitted by
law, between meetings of the Board. The Executive Committee met two times during
the fiscal year ended June 27, 1999.
The Executive Compensation and Development Committee consists of Messrs.
Bush, Dill, Liberman and Pollnow and reviews and approves the Company's
executive compensation policy, makes recommendations concerning the Company's
employee benefit policies and administers the Company's Retirement Income
Savings Plan, Cafeteria Benefit Plan and incentive compensation bonus, stock
option and long term incentive plans in effect from time to time, unless
otherwise specified in such plan. Frank W. Jones served on the Executive
Compensation and Development Committee during the fiscal year ended June 27,
1999 and until his resignation from the Board of Directors. The Executive
Compensation and Development Committee met eight times during the fiscal year
ended June 27, 1999.
The Audit and Finance Committee consists of Messrs. Liberman, Bush, Dill,
and Pollnow and recommends engagement of the Company's independent auditors and
is primarily responsible for approving the services performed by the Company's
independent auditors and for reviewing and evaluating the Company's accounting
principles and its systems of internal accounting controls. Frank W. Jones
served on the Audit and Finance Committee during the fiscal year ended June 27,
1999 and until his resignation from the Board of Directors. The Audit and
Finance Committee met four times during the fiscal year ended June 27, 1999.
The Nominating Committee consists of Messrs. Pollnow, Bush and Liberman and
recommends nominees for election to the Board of Directors. The Nominating
Committee met one time during the fiscal year ended June 27, 1999. The
Nominating Committee will consider nominees submitted by stockholders for
inclusion on the recommended list of nominees submitted by the Company and voted
on at the Annual Meeting of Stockholders in 2000 if such nominations are
submitted in writing to the Company's headquarters, Attention: Nominating
Committee, no later than June 10, 2000.
Mr. Kerley, as Chairman of the Board, serves as a non-voting, ex officio
member of the Executive Compensation and Development Committee, the Audit and
Finance Committee and the Nominating Committee.
During the fiscal year ended June 27, 1999, no director attended fewer than
75% of the aggregate of (1) the total number of meetings of the Board of
Directors (held during the period for which he has been a director) and (2) the
total number of meetings held by all committees of the Board on which he served
(during the periods that he served).
5
<PAGE> 7
SECURITY OWNERSHIP OF
CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
HOLDERS OF MORE THAN FIVE PERCENT BENEFICIAL OWNERSHIP
The following table sets forth certain information concerning the
beneficial ownership of Common Stock as of September 14, 1999 by each
stockholder who is known by the Company to own beneficially in excess of 5% of
the outstanding Common Stock. Except as otherwise indicated, to the best of the
Company's knowledge all persons listed below have sole voting and investment
power with respect to their shares of Common Stock.
<TABLE>
<CAPTION>
SHARES OF PERCENT OF
COMMON STOCK OUTSTANDING SHARES
------------ ------------------
<S> <C> <C>
Putnam Investments, Inc.(1)................................. 1,217,641 12.0%
One Post Office Square
Boston, Massachusetts 02109
The Prudential Insurance Company of America(2).............. 1,063,900 10.5%
751 Broad Street
Newark, New Jersey 07102
BankOne Corporation(3)...................................... 862,500 8.5%
One First National Plaza
Chicago, Illinois 60670
Brinson Partners, Inc.(4)................................... 831,100 8.2%
209 South LaSalle Street
Chicago, Illinois 60604
Dimensional Fund Advisors, Inc.(5).......................... 619,400 6.1%
1299 Ocean Avenue
Santa Monica, California 90401
Skyline Asset Management, L.P............................... 572,000 5.7%
311 South Wacker Drive
Chicago, Illinois 60606
State of Wisconsin Investment Board(5)...................... 510,100 5.0%
121 East Wilson Street
Madison, Wisconsin 53703
</TABLE>
- -------------------
(1) Based on a filing of Schedule 13G, as of July 31, 1999, this stockholder has
shared voting power with respect to 256,800 of these shares and shared
investment power with respect to all of these shares.
(2) Based on a filing of Schedule 13G, as of December 31, 1998, this stockholder
has sole voting and investment power with respect to 223,000 of these shares
and shared voting and investment power with respect to 840,900 of these
shares.
(3) Based on a filing of Schedule 13G, as of December 31, 1998, this stockholder
has sole power to vote 816,100 of these shares and sole investment power
with respect to 862,000 of these shares.
(4) Based on a filing on Schedule 13G, as of December 31, 1998, this stockholder
has shared voting and dispositive power with respect to all of these shares.
(5) Based on a filing of Form 13F, as of June 30, 1999.
6
<PAGE> 8
BENEFICIAL OWNERSHIP OF MANAGEMENT AND NOMINEES
The following table sets forth certain information concerning the
beneficial ownership of Common Stock as of September 15, 1999 by each director
and director nominee of the Company, by each of the executive officers listed in
the Summary Compensation Table ("Named Executive Officers"), and by all
directors and executive officers of the Company as a group.
<TABLE>
<CAPTION>
SHARES OF PERCENT OF
NAME OF BENEFICIAL OWNER COMMON STOCK OUTSTANDING SHARES
------------------------ ------------ ------------------
<S> <C> <C>
William H.T. Bush (1)(2).................................... 21,528 *
Charles A. Dill(3)(4)....................................... 15,160 *
Bruce P. Erdel(5)........................................... 75,138 *
Stephen J. Gore(6).......................................... 177,800 1.7%
Eugene R. Haffely, Jr.(7)................................... 25,157 *
James J. Kerley(8)(9)....................................... 25,713 *
Graham L. Lewis(10)......................................... 212,850 2.1%
Lee M. Liberman(4)(11)...................................... 25,160 *
John F. Logan(12)........................................... 40,900 *
Charles F. Pollnow(1)(4).................................... 17,660 *
------- ---
All directors, director nominees and executive officers as a
group (10 persons)........................................ 637,066 6.1%
======= ===
</TABLE>
- -------------------
* Less than 1.0%.
(1) Includes 7,500 shares issuable pursuant to options exercisable within 60
days of September 15, 1999, pursuant to the terms of the 1994 Directors
Nonqualified Stock Option Plan.
(2) Includes 1,028 Common Stock equivalent units credited under the Directors
Deferred Compensation Plan.
(3) Includes 2,500 shares issuable pursuant to options exercisable within 60
days of September 15, 1999, pursuant to the terms of the 1994 Directors
Nonqualified Stock Option Plan.
(4) Includes 2,660 Common Stock equivalent units credited under the Directors
Deferred Compensation Plan.
(5) Includes 50,838 shares issuable pursuant to options exercisable within 60
days of September 15, 1999.
(6) Includes 118,450 shares issuable pursuant to options exercisable within 60
days of September 15, 1999.
(7) Includes 20,425 shares issuable pursuant to options exercisable within 60
days of September 15, 1999.
(8) Includes 11,250 shares issuable pursuant to options exercisable within 60
days of September 15, 1999, pursuant to the terms of the 1994 Directors
Nonqualified Stock Option Plan.
(9) Includes 9,463 Common Stock equivalent units credited under the Directors
Deferred Compensation Plan.
(10) Includes 20,150 shares issuable pursuant to options exercisable within 60
days of September 15, 1999.
(11) Includes 10,000 shares issuable pursuant to options exercisable within 60
days of September 15, 1999, pursuant to the terms of the 1994 Directors
Nonqualified Stock Option Plan. Excludes 1,500 shares owned by J & L
Investments, a partnership in which Mr. Liberman holds a 50% interest, as
to which shares Mr. Liberman disclaims beneficial ownership.
(12) Includes 30,900 shares issuable pursuant to options exercisable within 60
days of September 15, 1999.
COMPENSATION OF DIRECTORS
Directors who are employees of the Company or any of its subsidiaries
receive no additional compensation for serving as directors. Each director who
is not an employee of the Company receives an annual retainer fee of $20,000 for
his services as a director, together with additional fees of $1,000 for
attendance at each meeting of the full Board of Directors and $750 ($1,000 for
committee chairmen) for attendance at each
7
<PAGE> 9
meeting of committees of the Board of Directors (with a per day cap of either
$1,250 of committee meeting fees or $1,500 of committee meeting fees for
chairmen of committees that meet on any given day). Mr. Kerley receives an
additional annual fee of $150,000 for his services as Chairman of the Board.
Directors are also entitled to reimbursement for their expenses incurred in
attending meetings.
Pursuant to the Directors Deferred Compensation Plan, each director who is
not an employee of the Company is required to defer $10,000 of his annual
retainer fee in Common Stock equivalent units until termination of his
directorship. In addition, each such director may elect to defer receipt of all
or part of his remaining compensation until termination of his directorship.
Deferred fees (other than the required deferral referred to above) may earn
additional amounts based either on a hypothetical investment in the Company's
Common Stock or on a hypothetical investment in any combination of the
investment funds made available to the Company's employees under the Company's
401(k) plan, in either case until the time of termination of directorship. All
Common Stock equivalent units held in each non-employee director's deferred fee
account receive dividend equivalents.
DIRECTORS STOCK OPTION PLAN. The Company maintains a 1994 Directors
Non-Qualified Stock Option Plan (the "Directors Stock Option Plan") which
provides for the granting of options to the Company's directors who are not
employees of the Company, for up to 100,000 shares of Common Stock.
The Directors Stock Option Plan is administered by a Directors Stock Option
Committee of two or more members of the Board of Directors. Directors who have
been granted an option under the Directors Stock Option Plan during the
twelve-month period preceding appointment to the committee are not eligible to
serve on such committee, and no option may be granted to a director while
serving on the committee.
Options granted or to be granted under the Directors Stock Option Plan may
not be exercised for a period of two years from the date of grant and thereafter
become exercisable on a cumulative basis in 25% increments beginning on the
second anniversary of the date of grant and concluding on the fifth anniversary
of the date of grant. All options granted under the Directors Stock Option Plan
expire ten years from the date of grant.
Options granted or to be granted under the Directors Stock Option Plan are
nontransferable, and the exercise price must be equal to the fair market value
of the Common Stock on the date of grant as set forth in the Directors Stock
Option Plan or as determined by the Directors Stock Option Committee. Upon
exercise, the exercise price must be paid in full in cash or such other
consideration as the Directors Stock Option Committee may permit.
The Directors Stock Option Plan by its express terms provides for the grant
of options to each person upon becoming an eligible director with respect to
10,000 shares of Common Stock and the grant of an additional option to each
person upon becoming Chairman of the Board (provided he is an eligible director)
with respect to 5,000 shares of Common Stock, in each case at the fair market
value on the date of grant. In addition, the Directors Stock Option Committee
has adopted a program pursuant to which each eligible director receives an
annual grant of options with respect to 1,000 shares of Common Stock at the fair
market value on the date of grant. On November 5, 1999, Messrs. Kerley, Bush,
Dill, Liberman and Pollnow were each granted options with respect to 1,000
shares of Common Stock with an exercise price per share of $18.50.
8
<PAGE> 10
EXECUTIVE OFFICERS
The following provides certain information regarding the executive officers
of the Company who are appointed by and serve at the pleasure of the Board of
Directors:
<TABLE>
<CAPTION>
NAME AGE POSITION(S)
---- --- -----------
<S> <C> <C>
Stephen J. Gore........................... 52 President and Chief Executive Officer(1)
John F. Logan............................. 64 President--Automation Group(1)
Graham L. Lewis........................... 49 President--Packaging Machinery Group(1)
Bruce P. Erdel............................ 39 Senior Vice President--Finance and
Administration(2)
Eugene R. Haffely, Jr..................... 50 Vice President--Operations(3)
</TABLE>
- -------------------
(1) See information under "Election of Directors."
(2) Mr. Erdel has been the Senior Vice President--Finance and Administration of
the Company since August 1998. From August 1993 to August 1998, he was Vice
President--Finance of the Company, and from February 1994 to August 1998, he
was Secretary of the Company. From February 1989 to August 1993, he was the
Director of Accounting of Harbour Group Ltd. From 1987 to 1989, he served as
Corporate Controller of Burks Pumps, Inc. (a pump manufacturer). Prior to
that time, Mr. Erdel served with PricewaterhouseCoopers.
(3) Mr. Haffely has been the Vice President--Operations of the Company since
February 1997. He was co-founder of AAA prior to its acquisition by the
Company in August 1994. Since that time he has served as Vice President,
Operations and President of AAA, Interim President of Hansford Manufacturing
Corporation, a subsidiary of the Company, and Group Vice President--DT
Automation Group. As of June 28, 1999, Mr. Haffely became President of AAA
and is no longer an executive officer of the Company.
9
<PAGE> 11
EXECUTIVE COMPENSATION
The following table summarizes the compensation of the chief executive
officer and each of the additional four most highly compensated executive
officers paid or accrued for services rendered to the Company and its
subsidiaries during the fiscal years ended June 29, 1997, June 28, 1998 and June
27, 1999.
SUMMARY COMPENSATION TABLE
<TABLE>
<CAPTION>
LONG-TERM
ANNUAL COMPENSATION COMPENSATION
------------------------------------------- ------------
OTHER ANNUAL STOCK OPTION
COMPENSATION AWARDS ALL OTHER
NAME AND ------------ ------------ COMPENSATION
PRINCIPAL POSITION YEAR SALARY($)(1) BONUS($)(2) ($)(3)(4) (IN SHARES) ($)(5)
------------------ ---- ------------ ----------- --------- ----------- ------------
<S> <C> <C> <C> <C> <C> <C>
Stephen J. Gore.................. 1999 $452,507 $ 80,000 $ 8,523 30,000 $6,400
President and Chief 1998 431,382 292,320 8,886 30,000 6,400
Executive Officer 1997 400,000 434,000 10,006 31,950 6,800
John F. Logan.................... 1999 $244,752 $ -- -- 12,500 $6,400
President--Automation Group 1998 228,139 119,600 -- 13,500 5,575
1997 215,000 105,000 -- 10,000 6,036
Graham L. Lewis.................. 1999 $215,040 $ 40,000 -- 12,500 $4,826
President--Packaging Machinery 1998(a) 202,708 104,140 -- 13,500 --
Group 1997(a) 184,320 105,000 -- 2,000 --
Bruce P. Erdel................... 1999 $236,879 $ 40,000 $ 3,662 12,500 $6,400
Senior Vice President-- 1998 211,489 96,320 3,662 10,500 6,400
Finance and Administration 1997 190,000 146,600 3,662 15,000 8,010
Eugene R. Haffely, Jr. .......... 1999 $213,502 $ 12,000 -- 12,500 $6,400
Vice President--Operations 1998 203,761 84,807 -- 10,500 6,400
1997 161,049 103,600 -- 20,000 7,304
</TABLE>
- -------------------
(1) Includes amounts deferred under the 401(k) feature of the Company's
Retirement Income Savings Plan and under the Company's Non-Qualified
Deferred Compensation Plan.
(2) Reflects bonus payments earned during the fiscal year, all or a portion of
which may have been paid in a subsequent fiscal year.
(3) Excludes certain personal benefits, the total value of which was less than
10% of the total annual salary and bonus for each of the executives (i.e.
lease value of vehicles, life insurance premium, etc.).
(4) The amount shown represents a bonus accrued to reimburse the interest cost
on a promissory note used to purchase certain shares of the Common Stock.
(5) Reflects Company matching contributions under the Retirement Income Savings
Plan.
(a) Canadian dollar amounts converted at an average daily exchange rate for the
fiscal year.
Employment Agreements and Termination of Employment Agreements. In
September 1990, the Company entered into an employment agreement with Mr. Gore.
The employment agreement provides that if Mr. Gore's employment is terminated or
his salary or job responsibility becomes significantly reduced for any reason
other than (i) death, (ii) voluntary termination or (iii) cause, he will be
entitled to receive a severance payment equal to 75% of his salary. In
connection with the acquisition of the Kalish business in August 1995, the
Company entered into an employment agreement with Mr. Lewis which provided for
his initial employment as president of Kalish and his initial compensation. The
employment agreement also contains certain provisions concerning noncompetition
and confidentiality applicable to Mr. Lewis. The Company entered into an
employment agreement with Mr. Haffely in February 1997, establishing his initial
compensation as an executive officer, containing certain provisions concerning
noncompetition and confidentiality, and providing for payments to him, under
certain circumstances, following the termination of his employment with the
Company. The Stockholder Agreements between the Company and each of Messrs. Gore
and Erdel also contain provisions for payments to such persons, under certain
circumstances, following the termination of their employment with the Company.
See "Certain Transactions."
10
<PAGE> 12
OPTIONS
The following table sets forth information concerning options granted
during the fiscal year ended June 27, 1999 under the Company's stock option
plans to the chief executive officer and the additional four most highly
compensated executive officers at the end of the fiscal year.
OPTION GRANTS IN LAST FISCAL YEAR
<TABLE>
<CAPTION>
INDIVIDUAL GRANTS
---------------------------------------------------------------------
NUMBER OF PERCENTAGE OF
SECURITIES TOTAL OPTIONS
UNDERLYING GRANTED TO PER SHARE GRANT DATE
OPTIONS EMPLOYEES IN EXERCISE EXPIRATION PRESENT
NAME GRANTED(1) FISCAL 1999(2) PRICE(3) DATE VALUE(4)
---- ---------- -------------- --------- ---------- ----------
<S> <C> <C> <C> <C> <C>
Stephen J. Gore......................... 30,000 12.2% $15.875 8/28/08 $261,900
John F. Logan........................... 12,500 5.1% $15.875 8/28/08 $109,125
Graham L. Lewis......................... 12,500 5.1% $15.875 8/28/08 $109,125
Bruce P. Erdel.......................... 12,500 5.1% $15.875 8/28/08 $109,125
Eugene R. Haffely, Jr. ................. 12,500 5.1% $15.875 8/28/08 $109,125
</TABLE>
- -------------------
(1) Represents options granted pursuant to the 1994 Employee Stock Option Plan
and/or the 1996 Long-Term Incentive Plan with an exercise price equal to the
market price on the date of grant. Options become exercisable with respect
to 20% of the shares covered thereby on each anniversary of the date of
grant, commencing on the first anniversary of such date.
(2) Options to purchase a total of 246,250 shares were granted to employees
under the Company's 1994 Employee Stock Option Plan and the Company's 1996
Long-Term Incentive Plan in fiscal 1999. A purpose of these plans and the
grants thereunder is to provide a financial incentive to key employees who
are in a position to make significant contributions to the Company.
(3) Fair market value on the date of grant.
(4) The Grant Date Present Value was determined using the Black-Scholes Option
Pricing Model with the following assumptions: (a) option term of 10 years;
(b) interest rate of 5.27%; (c) volatility of 36.61%; and (d) dividends at
an annual rate of $0.08 per share. The ultimate value of the options will
depend on the future market price of the Company's common stock, which
cannot be forecast with reasonable accuracy. The actual pre-tax value, if
any, an optionee will realize upon exercise of an option will depend on the
excess of the market value of the Company's common stock over the exercise
price on the date the option is exercised.
11
<PAGE> 13
The following table sets forth information concerning option exercises and
the value of unexercised options held by the Named Executive Officers named in
the Summary Compensation Table above as of June 27, 1999.
AGGREGATED OPTION EXERCISES IN FISCAL 1999
AND FISCAL YEAR-END OPTION VALUES
<TABLE>
<CAPTION>
NUMBER OF SECURITIES VALUE OF UNEXERCISED,
UNDERLYING UNEXERCISED IN-THE-MONEY
OPTIONS AT OPTIONS AT
JUNE 27, 1999 JUNE 27, 1999(1)
SHARES ACQUIRED --------------------------- ---------------------------
NAME ON EXERCISE VALUE REALIZED EXERCISABLE UNEXERCISABLE EXERCISABLE UNEXERCISABLE
---- --------------- -------------- ----------- ------------- ----------- -------------
<S> <C> <C> <C> <C> <C> <C>
Stephen J. Gore......... -- -- 88,513 96,487 -- --
John F. Logan........... -- -- 18,450 36,550 -- --
Graham L. Lewis......... -- -- 10,700 32,300 -- --
Bruce P. Erdel.......... -- -- 39,400 37,700 -- --
Eugene R. Haffely,
Jr.................... -- -- 11,500 39,050 -- --
</TABLE>
- -------------------
(1) Based on the closing price of the Company's Common Stock of $8.50 on June
25, 1999.
BOARD EXECUTIVE COMPENSATION AND DEVELOPMENT COMMITTEE REPORT ON EXECUTIVE
COMPENSATION
The Executive Compensation and Development Committee (the "Committee"),
whose principal purpose is to administer the Company's executive compensation
policies, is composed entirely of non-employee members of the Board of
Directors. It reviews, recommends and approves changes to the Company's
compensation policies and programs for the chief executive officer and other
senior executives of the Company and certain key employees of its business units
whose annual base salaries exceed $100,000. In addition to its authority in
areas of cash compensation, the Committee administers the Company's stock option
plans and agreements and approves grants to be made in connection therewith.
In the Committee's discharge of its responsibilities, it considers the
compensation, primarily of the chief executive officer, other senior executive
officers and certain other key employees as described above, sets overall policy
and considers in general the basis of the levels of compensation of other key
contributing employees.
POLICY AND OBJECTIVES. Recognizing its role as a key representative of the
stockholders, the Committee seeks to promote the interests of stockholders by
attempting to align management's remuneration, benefits and perquisites with the
economic well-being of the Company. Because the achievement of operational
objectives should, over time, represent the primary determinant of share price,
the Committee links elements of compensation of executive officers and certain
key employees with the Company's operating performance. In this way, objectives
under a variety of compensation programs should eventually reflect the overall
performance of the Company. By adherence to the compensation program, the
compensation process should provide for enhancement of shareholder value.
Basically, the Committee seeks the successful implementation of the Company's
business strategy by attracting and retaining talented managers motivated to
accomplish these stated objectives. The Committee attempts to be fair and
competitive in its views of compensation. Rewards involve both business and
individual performance. The key ingredients of the program consist of base
salary, annual cash incentives and long range incentives consisting of stock
options. From time-to-time, the Committee retains independent compensation and
benefits consultants to evaluate the Company's compensation programs and advise
the Committee in connection with the development of compensation programs.
BASE SALARY. As a general principle, base salaries for the chief executive
officer, as well as other executive and key officers of the Company, are set by
the Committee using salary data for similar positions in companies that match
the Company's size in sales and earnings as a guideline. Target total cash
compensation for each of the Company's executive officers generally approximates
the median amount in the salary data for the corresponding position. The
Committee anticipates that it will continue to periodically update the salary
surveys of companies comparable to the Company as a component in the
determination of base salary for
12
<PAGE> 14
executive officers. In addition, the performance of each key executive is
evaluated annually and salary adjustments are based on various factors including
revenue growth, earnings per share improvement, increases in cash flow, new
product development, market appreciation for publicly traded securities,
reduction of debt, personal performance, and position in the salary study or
survey range. The Committee approves base salary adjustments for the key
executive officers, including the chief executive officer. Minimum compensation
levels and severance arrangements for the current chief executive officer were
established by a September 1990 agreement approved by the board of directors.
Compensation established for the chief executive officer by the Committee has
exceeded such minimum levels.
CASH INCENTIVE COMPENSATION. To reward performance, the chief executive
officer and other senior executives and key employees are eligible for annual
cash bonuses. The actual amount of incentive compensation paid to each executive
officer and senior executive is predicated on the financial performance of the
Company as a whole, the performance of the operations within the executive's
area of responsibility, and an assessment of each participant's relative role in
achieving the annual financial objectives of the Company as well as each such
person's contributions of a strategic nature in maximizing shareholder value.
Bonuses for the chief executive officer, and the senior vice president--finance
and administration are calculated by reviewing corporate performance and
determining, based on such performance, what percentage of the target
compensation discussed above each of the executive officers should receive; and
by reviewing such person's contributions of a strategic nature in maximizing
shareholder value. Bonuses for executive officers and senior executives whose
area of management responsibility is primarily limited to one or more business
units of the Company are calculated first, by reviewing the performance of those
units; second, by reviewing corporate performance as a whole and determining,
based on such performance, what percentage of the target compensation discussed
above each such executive officer and senior executive should receive; and,
third, by reviewing the relative role of each executive officer or senior
executive in achieving the annual financial objectives of the Company as well as
each such person's contributions of a strategic nature in maximizing shareholder
value. Corporate performance and performance of applicable business units each
comprise a pre-set percentage of annual cash incentive compensation for this
group of executives. Bonuses for other executives of the Company or key
employees of one or more business units of the Company are calculated first, by
reviewing the performance of the Company or the relevant business unit; and
second, by reviewing the relative role of each senior executive or key employee
in achieving the annual financial objectives of the applicable business units.
The Committee may consider discretionary bonuses for executives whose applicable
business units fail to meet financial performance objectives.
STOCK-BASED INCENTIVES. The Company's 1994 Employee Stock Option Plan (the
"1994 Plan") and the Company's 1996 Long-Term Incentive Plan (the "LTIP") are
long-term incentive programs intended to promote the interests of the Company
and its shareholders by attracting and retaining exceptional executive personnel
and other key employees of the Company and its subsidiaries, motivating such
employees by means of stock options and performance-related incentives to
achieve long-range performance goals, and enabling such employees to participate
in the long-term growth and financial success of the Company. The basic
objective of these plans is the specific and solid alignment of executive and
shareholder interests by forging a direct relationship between this element of
compensation and the shareholders' level of return. These programs represent a
desire by the Company to permit executives and other key employees to obtain an
ownership position and a proprietary interest in the Company's Common Stock.
Under the 1994 Plan, approved by the stockholders, stock option grants are
approved, from time to time, by the Committee. Generally, the Committee attempts
to reflect the optionee's potential impact on corporate financial and
operational performance in the award of stock options. Stock options granted
under the plan during fiscal 1999 have an exercise price equal to the market
price of the Common Stock on the date of grant, expire after ten years, and vest
20% annually.
The LTIP is also administered by the Committee. The LTIP provides for the
granting of four types of awards on a stand alone, combination, or tandem basis,
specifically, nonqualified stock options, incentive stock options, restricted
shares and performance stock awards. During fiscal 1999, the Committee made
awards of nonqualified stock options under the LTIP which were structured and
awarded in the same manner as stock options under the 1994 Plan.
13
<PAGE> 15
The Committee anticipates that grants of stock options under the LTIP will
be the sole element of the Company's long-term stock based incentive
compensation in the foreseeable future.
Executive Compensation and Development
Committee
William H.T. Bush, Chairman
Charles A. Dill
Lee M. Liberman
Charles F. Pollnow
14
<PAGE> 16
PERFORMANCE GRAPH
The following graph presents the cumulative return for the Company, the
Nasdaq Market Index, and a peer group ("Peer Group") consisting of U.S.
companies traded on various exchanges and in the over-the-counter market in the
same Standard Industrial Code (SIC) group as the Company (Special Industrial
Machinery; Not Elsewhere Classified). The Nasdaq and the Peer Group data have
been provided by Media General Financial Services, Inc., Richmond, Virginia,
without independent verification by the Company.
COMPARISON OF CUMULATIVE TOTAL RETURNS
[LINE GRAPH]
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------
Company/Index/Market 6/30/94 6/30/95 6/28/96 6/27/97 6/26/98 6/28/99
<S> <C> <C> <C> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------
DT Industries, Inc. $100.00 $ 75.01 $117.14 $225.22 $165.34 $ 56.82
- ----------------------------------------------------------------------------------------------------------------
Nasdaq Market Index $100.00 $117.28 $147.64 $177.85 $235.75 $330.37
- ----------------------------------------------------------------------------------------------------------------
Peer Group $100.00 $212.89 $157.18 $261.34 $208.03 $389.53
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
Notes:
A. Peer Group includes 56 companies, including the Company, in SIC Code
3559-Special Industry Machinery, Not Elsewhere Classified.
B. The lines represent quarterly index levels derived from compounded daily
returns that include all dividends.
C. The indexes are reweighted daily, using the market capitalization on the
previous trading day.
D. If the quarterly interval, based on the fiscal year-end, is not a trading
day, the preceding trading day is used.
E. The index level of all series was set to 100.0 on 6/30/94.
15
<PAGE> 17
SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
Section 16(a) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), requires the Company's directors, executive officers and
persons who own more than 10% of a registered class of the Company's equity
securities to file with the Securities and Exchange Commission (the "SEC")
initial reports of ownership and reports of changes in ownership of Common Stock
and other equity securities of the Company. Executive officers, directors and
greater than 10% shareholders are required by SEC regulation to furnish the
Company with copies of all Section 16(a) forms which they file.
To the Company's knowledge, based solely on review of information furnished
to the Company, reports filed through the Company and representations that no
other reports were required, all Section 16(a) filing requirements applicable to
its executive officers, directors and greater than 10% beneficial owners were
complied with during the fiscal year ended June 27, 1999.
CERTAIN TRANSACTIONS
RELATED PARTY TRANSACTIONS
Prior to 1994, Stephen J. Gore and Bruce P. Erdel, together with certain
other members of the management of the Company, acquired shares of Common Stock
at prices determined by the Board of Directors of the Company, and the purchase
price therefor was paid partly in cash and partly by delivery of promissory
notes payable to the Company secured by all or some portion of the purchased
shares. Such notes have a ten-year maturity, bear interest at fixed rates of
interest from 5.84% to 6.28% per annum and are payable interest only annually,
with one principal payment at maturity. In connection with such promissory
notes, the Company agreed to pay annual bonuses to such stockholders in amounts
equal to the annual interest payments on the notes plus all federal and state
income taxes applicable to such payments. A pro rata portion of the indebtedness
originally incurred to purchase such shares must be repaid in connection with
any sale of such Common Stock by such stockholder. In connection with the
purchase of his shares of the Common Stock, each such stockholder entered into
an agreement with the Company and Peer Investors, L.P., which agreements were
amended in connection with the Company's initial public offering (as amended,
the "Stockholder Agreements"). The Stockholder Agreements of Messrs. Gore and
Erdel contain provisions concerning noncompetition and confidentiality
applicable to such stockholders and provisions for payments to such
stockholders, under certain circumstances, following the termination of their
employment with the Company. In the event of a termination of any such
stockholder's employment by the Company without cause or his voluntary
resignation within 60 days of a substantial reduction in his duties,
responsibilities or compensation, the Stockholder Agreements provide for payment
of up to one year's base salary to such executive.
During the fiscal year ended June 27, 1999, the following executive officer
and director had a promissory note in excess of $60,000 outstanding to the
Company:
<TABLE>
<CAPTION>
BALANCE OUTSTANDING
-----------------------------
HIGHEST DURING AT JUNE 27, INTEREST
SHAREHOLDER POSITION FISCAL 1999 1999 RATE DUE DATE
----------- -------- -------------- ----------- -------- --------
<S> <C> <C> <C> <C> <C>
Stephen J. Gore...................... President & Chief $72,066.00 $72,066.00 6.28% 9/30/03
Executive Officer,
Director
</TABLE>
In connection with the acquisition of certain assets of H.G. Kalish Inc. in
September 1995, the Company agreed to make additional payments of up to
$3,000,000 to Mr. Lewis, a director of the Company and former stockholder of
H.G. Kalish Inc. The additional purchase price was determined by a formula based
on the earnings of the acquired business for each of the three years after the
closing of the acquisition and the amount thereof was $3,000,000. Such
additional purchase price was paid in a combination of cash or Common Stock
(valued at the average closing price of the Common Stock for the applicable
year) in accordance with the terms of the acquisition agreement.
16
<PAGE> 18
RATIFICATION OF SELECTION OF AUDITORS
The Board of Directors has selected PricewaterhouseCoopers LLP to be the
independent auditors of the Company for the year ending June 25, 2000.
A representative of PricewaterhouseCoopers LLP is expected to be available
at the Annual Meeting to make a statement if such representative desires to do
so and to respond to appropriate questions. The Board of Directors recommends
voting "FOR" approval and ratification of such selection.
SOLICITATION OF PROXIES
The cost of soliciting proxies will be borne by the Company. In addition to
solicitation by mail, proxies may be solicited by officers, directors and
regular employees of the Company personally or by telephone, telegraph or
facsimile for no additional compensation. Arrangements will be made with
brokerage houses and other custodians, nominees and fiduciaries to forward
solicitation material to beneficial owners of the stock held of record by such
persons, and the Company will reimburse such persons for their reasonable
out-of-pocket expenses incurred by them in so doing.
STOCKHOLDER PROPOSALS FOR 2000 ANNUAL MEETING
The rules of the SEC currently provide that stockholder proposals for the
2000 Annual Meeting must be received at the Company's principal executive office
not less than 120 calendar days prior to the anniversary date of the release of
the Company's proxy statement to stockholders in connection with the 1999 Annual
Meeting to be considered by the Company for possible inclusion in the proxy
materials for the 2000 Annual Meeting.
FINANCIAL INFORMATION
The Company's Annual Report on Form 10-K for the fiscal year ended June 27,
1999 is being mailed to stockholders on or about the date of mailing this Proxy
Statement. THE COMPANY WILL PROVIDE, WITHOUT CHARGE, TO ANY RECORD OR BENEFICIAL
SHAREHOLDER AS OF SEPTEMBER 30, 1999, WHO SO REQUESTS IN WRITING, A COPY OF SUCH
ANNUAL REPORT ON FORM 10-K (WITHOUT EXHIBITS) INCLUDING THE FINANCIAL STATEMENTS
AND THE FINANCIAL STATEMENT SCHEDULES FILED WITH THE SEC, OR THE COMPANY'S
ANNUAL REPORT FOR THE FISCAL YEAR ENDED JUNE 27, 1999, INCLUDING THE FINANCIAL
STATEMENTS AND THE FINANCIAL STATEMENT SCHEDULES. ANY SUCH REQUEST SHOULD BE
DIRECTED TO DT INDUSTRIES, INC., CORPORATE CENTRE, SUITE 2-300, 1949 EAST
SUNSHINE, SPRINGFIELD, MISSOURI 65804, ATTENTION: DENNIS S. DOCKINS.
OTHER MATTERS
The Board of Directors of the Company is not aware of any other matters to
come before the meeting. If any other matters should come before the meeting,
the persons named in the enclosed proxy intend to vote the proxy according to
their best judgment.
You are urged to complete, sign, date and return your proxy to make certain
your shares of Common Stock will be voted at the Annual Meeting. For your
convenience in returning the proxy, an addressed envelope is enclosed, requiring
no additional postage if mailed in the United States.
By Order of the Board of Directors,
/S/ DENNIS S. DOCKINS
Dennis S. Dockins
General Counsel and Secretary
October 8, 1999
17
<PAGE> 19
DT INDUSTRIES, INC.
PROXY
ANNUAL MEETING NOVEMBER 10, 1999
THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS OF THE COMPANY
The undersigned acknowledges receipt of the Notice of Annual Meeting of
Stockholders and Proxy Statement of DT Industries, Inc. (the "Company"), each
dated October 6, 1999, and the Annual Report on Form 10-K for the Fiscal Year
ended June 27, 1999, and appoints BRUCE P. ERDEL and GREGORY D. WILSON, or
either of them, with full power to act alone, the proxies and true and lawful
attorneys-in-fact of the undersigned, with full power of substitution and
revocation, on behalf and in the name of the undersigned to vote all shares of
stock of said Company which the undersigned is entitled to vote at the 1999
Annual Meeting of the Stockholders of the Company to be held at the Sheraton
Hawthorn Park Hotel, 2431 North Glenstone, Springfield, Missouri 65803, on
November 10, 1999, at 10:00 a.m. and at any adjournment thereof, with the same
effect as if the undersigned were present and voting such shares on the
following matters and in the following manner:
(continue on reverse side)
FOLD AND DETACH HERE
<PAGE> 20
<TABLE>
<S><C>
To elect the following nominees as Directors of the Company FOR AGAINST ABSTAIN
to serve for terms of one or three years or until their 2. To ratify or reject the appointment [ ] [ ] [ ]
successors are elected and qualified. of PricewaterhouseCoopers LLP as
independent auditors for the Company
FOR all nominees listed WITHHOLD AUTHORITY for the fiscal year ending June 25, 2000
below (except as marked to to vote for all nominees
the contrary below) listed below
[ ] [ ]
Nominees for Directors: 3. To transact such other business as may properly come before the
Class III--(Term of Office Expires in 2002): William H. T. meeting or any adjournment thereof, according to the proxies'
Bush, Charles A. Dill, Graham L. Lewis discretion, and in their discretion.
INSTRUCTION: To withhold authority to vote for any individual [ ] Please mark this box if you plan to attend the meeting.
nominee, write that nominee's name in the space below:
- ------------------------------------------------------------- The shares represented by this proxy will be voted in
accordance with the specification made. If no specification
is made, the shares represented by this proxy will be voted
"FOR" all nominees listed in Proposal 1, "FOR" Proposal 2,
and in the discretion of the proxies on such other business as
may properly come before the meeting.
Dated: , 1999
-------------------------------------------------
--------------------------------------------------------------
--------------------------------------------------------------
Please date and sign exactly as your name(s) appears on the
stock certificate. If shares are held by joint tenants, both
should sign. When signing as attorney, executor, administrator,
trustee or guardian, please give full title as such. If a
corporation, please sign in full corporate name by president
or other authorized officer if a partnership, please sign in
partnership name by authorized person. This proxy votes all
shares held in all capacities unless specified.
</TABLE>
- FOLD AND DETACH HERE -
[DT INDUSTRIES LOGO]
October 6, 1999
Dear Stockholder:
You are cordially invited to attend the Annual Meeting of Stockholders
which will be held at the Sheraton Hawthorn Park Hotel, 2431 North Glenstone,
Springfield, Missouri 65803 at 10:00 a.m., Central Standard Time, on Wednesday,
November 10, 1999. Enclosed you will find the formal Notice of Annual Meeting
and Proxy Statement.
Whether or not you plan to attend the meeting in person, it is important
that your shares be represented and voted at the meeting. Accordingly, please
date, sign and promptly return the attached proxy form above.
We hope that you will attend and look forward to seeing you there.
/s/ James J. Kerley /s/ Stephen J. Gore
James J. Kerley Stephen J. Gore
Chairman of the Board President and Chief Executive Officer
