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
January 15, 1999 (January 14, 1999)
Date of Report (Date of earliest event reported)
DT INDUSTRIES, INC.
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
0-23400 44-0537828
(Commission File Number) (I.R.S. Employer Identification Number)
1949 East Sunshine, Suite 2-300
Springfield, MO 65804
(Address of principal executive offices)
(Zip code)
(417) 890-0102
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On January 14, 1999, the Company released its expectation for second-quarter
earnings.
Statements contained in the attached press release that are not historical facts
are forward-looking statements that are subject to the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. References to "expectations,"
"opportunities," "potential" and "goals" in the attached press release indicate
such forward-looking statements. Actual results could differ materially from
those anticipated in any forward-looking statements as a result of various
factors, including economic downturns in industries served, delays or
cancellations of customer orders, delays in shipping dates of products,
significant cost overruns on certain projects, foreign currency exchange rate
fluctuations and delays in achieving anticipated cost savings or in effectively
correcting production inefficiencies and capacity issues and expanding into
additional markets and possible future acquisitions that may not be
complementary or additive.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Press release of the Company dated January 14, 1999.
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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.
DT INDUSTRIES, INC.
Date: January 14, 1999 by: /s/ Bruce P. Erdel
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Bruce P. Erdel
Senior Vice President - Finance
and Administration
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EXHIBIT INDEX
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99 Press Release of the
Company dated
January 14, 1999.
DT Industries, Inc.
1949 E. Sunshine
Suite 2-300
Springfield, MO 65804
Nasdaq: DTII
At the Company: At The Financial Relations Board:
Bruce P. Erdel Karl Plath Bill Schmidle
Vice President, Finance General Information Analyst Contact
417/890-0102 312/640-6738 312/640-6753
FOR IMMEDIATE RELEASE
DT INDUSTRIES EXPECTS 2ND-QTR EPS OF 10 CENTS - 12 CENTS
SPRINGFIELD, Mo., January 14, 1999--DT Industries, Inc. (Nasdaq: DTII),
today announced that it expects to report second-quarter earnings of 10 cents to
12 cents per diluted share. Order activity continued to be soft and below
expectations during the quarter and continuing cost overruns at some divisions
adversely affected margin performance. Net sales are expected to be about $110
million, with orders approximating $95 million. That compares with diluted EPS
of 66 cents and net sales of $132.4 million a year earlier.
DT Industries expects to report actual results for the second quarter ended
December 27, 1998, during the second week in February.
"Revenues in the quarter were less than expectations as we continued to be
affected by delays in orders from several significant Automation Group
customers," said Stephen J. Gore, president and chief executive officer,
"Additionally, some projects in the September backlog experienced unexpected
delays during the quarter affecting second quarter revenue recognition. We
believe these delays are primarily the result of customer product development
issues that they feel will be resolved in the near future.
"We also have experienced considerable--and unacceptable--cost overruns and
revenue shortfalls in the Plastics division of our Packaging Group," Gore said.
"We have restructured the management team to accelerate implementation of
project management procedures we believe are necessary to turn this operation
around." Gore noted that the Plastics division, since being acquired by DT
Industries in 1993, has nearly doubled in size with a growing complexity in the
type of equipment it delivers.
Gross margins in the quarter were also adversely affected by cost overruns
at certain Automation Group facilities as well as lower manufacturing
efficiencies resulting from the decreased level of manufacturing activity.
"At the facilities where cost overruns have occurred, we are thoroughly
analyzing the circumstances and are implementing appropriate action plans to
correct deficiencies," Gore said. "These issues have our highest attention.
Corporate and group level personnel have been directly assigned to assist in
this process. As we have demonstrated in the past, we aggressively address these
issues and take what we believe are the appropriate actions.
"We are disappointed in our second quarter results," Gore said. "We remain
cautiously optimistic that strong order prospects in the coming months, as well
as operational changes, will lead to improved operating results in future
quarters. It is difficult, however, to project the timing of the release of
specific major projects."
DT Industries, Inc. is a leading designer, manufacturer and integrator of
automated production systems used to assemble, test or package industrial and
consumer products. The company also produces precision metal components, tools
and dies for a broad range of industrial applications.
Certain statements included herein that are not historical, particularly
statements about the company's expectations or beliefs, are forward-looking
statements. The company's actual results for current or future periods could
differ materially from the expected results because of a variety of factors,
including economic downturns in industries served, delays or cancellations of
customer orders, delays in shipping dates of products, cost overruns on certain
projects, currency exchange fluctuations and other factors described in the
company's filings with the U.S. Securities and Exchange Commission.
For further information on DT Industries by fax, at no cost,
dial 1-800- PRO-INFO and use ticker symbol "DTII."
