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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Date of report (Date of earliest event reported): August 7, 1998
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AFTERMARKET TECHNOLOGY CORP.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 0-21803 95-4486486
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation or File Number) Identification No.)
Organization)
900 Oakmont Lane - Suite 100, Westmont, IL 60559
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (630) 455-6000
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AFTERMARKET TECHNOLOGY CORP.
FORM 8-K
ITEM 5. OTHER EVENTS.
On August 7, 1998, Stephen J. Perkins, Chairman of the Board, President
and Chief Executive Officer of Aftermarket Technology Corp. (the "Company") and
John C. Kent, Chief Financial Officer of the Company, conducted a telephonic
conference with securities analysts during which the following information was
disclosed:
REMANUFACTURED TRANSMISSIONS FOR INDEPENDENT AFTERMARKET
The Company is in the process of establishing a production line to
remanufacture transmissions for sale to transmission repair shops. The Company
has received orders from AAMCO Transmissions and expects to begin shipping
product in the next 60 days. This will mark the first time that the Company has
sold remanufactured transmissions to the independent aftermarket (as opposed to
sales to original equipment manufacturers ("OEMs")). Management estimates that
sales of these transmissions will be between $15 million to $20 million in 1999.
OEM BUSINESS FOR BALANCE OF 1998
Management expects sales to OEM customers during each of the third and
fourth quarters of 1998 to be approximately 4%-5% higher than its sales to OEMs
during the second quarter of 1998. Sales during the third and fourth quarters
will for the first time include sales of rear wheel drive transmissions to
Chrysler.
1998 EARNINGS PER SHARE ESTIMATE
Management estimates that the Company's earnings per diluted share for
fiscal 1998, before an extraordinary item recorded in the first quarter and
special charges incurred in the second quarter, will be approximately $1.25.
The number of shares used in this estimate is 21.3 million.
FORWARD LOOKING STATEMENT NOTICE
The above paragraphs contain forward-looking statements that involve
risks and uncertainties because such statements are based upon assumptions as to
future events that may not prove to be accurate. There can be no assurance that
actual results will not differ materially from those projected or implied by
such statements. The factors that could cause actual results to differ are
discussed in the Company's Annual Report on Form 10-K for the year ended
December 31, 1998 and other filings made by the Company with the Securities and
Exchange Commission.
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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, thereunto duly authorized.
AFTERMARKET TECHNOLOGY CORP.
Dated: August 10, 1998
By: /s/ Joseph Salamunovich
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Joseph Salamunovich
Vice President
