-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Sd38Eq3kMzTWl4sgiOhg2NhVmudXCuTNZCrfk8NOOaOs73bJe/wcIU5HErw0KPzn qil9493pgoKedWxeUFdt/w== 0000950168-99-001819.txt : 19990621 0000950168-99-001819.hdr.sgml : 19990621 ACCESSION NUMBER: 0000950168-99-001819 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990618 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OAKWOOD HOMES CORP CENTRAL INDEX KEY: 0000073609 STANDARD INDUSTRIAL CLASSIFICATION: MOBILE HOMES [2451] IRS NUMBER: 560985879 STATE OF INCORPORATION: NC FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07444 FILM NUMBER: 99648544 BUSINESS ADDRESS: STREET 1: 7800 MCCLOUD RD CITY: GREENSBORO STATE: NC ZIP: 27409-9634 BUSINESS PHONE: 9198552400 MAIL ADDRESS: STREET 1: 7800 MCCLOUD RD CITY: GREENSBORO STATE: NC ZIP: 27409-9634 8-K 1 OAKWOOD HOMES CORPORATION 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 18, 1999 ------------------------- OAKWOOD HOMES CORPORATION - ------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) North Carolina 1-7444 56-0985879 - ------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) file number) Identification Number) 7800 McCloud Road, Greensboro, North Carolina 27409-9634 - ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (336) 664-2400 ---------------------------- ITEM 5. OTHER EVENTS. On June 18, 1999, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) EXHIBITS. The following exhibit is filed herewith: 99.1 Press release issued on June 18, 1999. 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. OAKWOOD HOMES CORPORATION Date: June 18, 1999 By: /s/ Robert A. Smith ------------------------------------ Name: Robert A. Smith Title: Executive Vice President and Chief Financial Officer SECURITIES AND EXCHANGE COMMISSION Washington, DC EXHIBITS CURRENT REPORT ON FORM 8-K Date of Event Reported: Commission File No: June 18, 1999 1-7444 OAKWOOD HOMES CORPORATION EXHIBIT INDEX Exhibit No. Exhibit Description ------------- -------------------- 99.1 Press release issued on June 18, 1999. EX-99.1 2 EXHIBIT 99.1 EXHIBIT 99.1 Contact: Suzanne H. Wood (336) 664-2400 OAKWOOD HOMES CORPORATION ANNOUNCES LOWER EXPECTATIONS FOR THE THIRD QUARTER AND THAT IT WILL BE EXPLORING STRATEGIC ALTERNATIVES GREENSBORO, N.C., June 18, 1999 --- Oakwood Homes Corporation (NYSE - OH) today announced that results for the third quarter ending June 30, 1999 could be as much as 50% lower than analysts' consensus estimates of $.55 per share as reported by First Call with the extent of the shortfall being significantly dependent on retail sales for June. Nicholas J. St. George, Chairman and Chief Executive Officer, and William G. Edwards, President and Chief Operating Officer, jointly said: "We expect the quarter to be adversely affected by unanticipated softness in retail and wholesale sales. Although business in March showed signs of improvement over the prior year, sales during the current quarter have exhibited unexpected weakness. Same store retail sales in units and dollars through May, as compared to the prior year, were down by approximately 16% and 10%, respectively." Oakwood Homes also announced that its Board of Directors will be exploring strategic alternatives to enhance shareholder value including a merger or sale of the Company. The Board of Directors also stated that Oakwood's management was pursuing the possibility of a management led buyout. Discussion of these matters is preliminary, and there can be no assurances that a transaction will result. The Board will be engaging Merrill Lynch & Co. as its financial advisor to advise it in its consideration of strategic alternatives. Oakwood Homes Corporation and its subsidiaries are engaged in the production, sale, financing and insuring of manufactured housing throughout the United States. With 388 Company-owned stores and an extensive network of independent dealers served by 32 manufacturing facilities, Oakwood Homes is the nation's largest retailer of manufactured housing. This press release contains certain forward-looking statements and information based on the beliefs of the Company's management as well as assumptions made by, and information currently available to, the Company's management. Words like "believe," "expect," "should," and similar expressions used in this press release are intended to identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties, and assumptions, including risk factors in the Company's Registration Statement on Form S-3 filed February 22, 1999. Should underlying assumptions prove incorrect or should one or more of the risks or uncertainties materialize, actual events or results may vary from those described herein as anticipated, expected, believed or estimated. -----END PRIVACY-ENHANCED MESSAGE-----