-----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, WulFWf5T+vVWB8R9pCKGsdzNz+XCRAkff7nFUiG5PMmKyufF+yNSCOHdQcnnbBQS ylIlH3TFlATWmyMWjjDxhQ== 0001193125-03-045584.txt : 20030904 0001193125-03-045584.hdr.sgml : 20030904 20030904171233 ACCESSION NUMBER: 0001193125-03-045584 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030829 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030904 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FTI CONSULTING INC CENTRAL INDEX KEY: 0000887936 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 521261113 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14875 FILM NUMBER: 03882061 BUSINESS ADDRESS: STREET 1: 900 BESTGATE RD STREET 2: SUITE 100 CITY: ANNAPOLIS STATE: MD ZIP: 21401 BUSINESS PHONE: 4102248770 MAIL ADDRESS: STREET 1: 900 BESTGATE RD STREET 2: SUITE 100 CITY: ANNAPOLIS STATE: MD ZIP: 21401 FORMER COMPANY: FORMER CONFORMED NAME: FORENSIC TECHNOLOGIES INTERNATIONAL CORP DATE OF NAME CHANGE: 19960306 8-K 1 d8k.htm FTI CONSULTING, INC. FORM 8-K FTI Consulting, Inc. Form 8-K

 

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

 

Date of Report (Date of earliest event reported): August 29, 2003

 


 

FTI Consulting, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Maryland   001-14875   52-1261113

(State or Other

Jurisdiction of Incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

900 Bestgate Road, Suite 100,

Annapolis, Maryland

      21401
(Address of Principal Executive Offices)       (ZIP Code)

 

Registrant’s telephone number, including area code: (410) 224-8770

 



Item 5.   Other Events and Required FD Disclosure.

 

On September 2, 2003, FTI Consulting, Inc. announced the completed sale of its SEA practice group. The full text of the press release is set forth in Exhibit 99.1 hereto.

 

Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.

 

(c) Exhibits.

 

99.1

   Press Release dated September 2, 2003, of FTI Consulting, Inc.     

 

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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.

 

FTI CONSULTING, INC.

By:

 

/s/    THEODORE I. PINCUS      


   

Theodore I. Pincus

Executive Vice President and

Chief Financial Officer

 

Date: September 4, 2003

 

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EXHIBIT INDEX

 

Exhibit

  

Description


99.1

   Press Release dated September 2, 2003, of FTI Consulting, Inc.

 

-3-

EX-99.1 3 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

 

 news

[FRB LOGO]

 

RE: FTI Consulting, Inc.

        900 Bestgate Road

        Annapolis, MD 21401

        (410) 224-8770

 

FOR FURTHER INFORMATION:

 

AT FTI CONSULTING:   AT FRB|WEBERSHANDWICK:
Jack Dunn   Marilyn Windsor   Lisa Fortuna    Tim Grace
Chairman & CEO   General Inquiries   Analyst Inquiries    Media Inquiries
(410) 224-1483   (702) 515-1260   (312) 640-6779    (312) 640-6667

 

FOR IMMEDIATE RELEASE

TUESDAY, SEPTEMBER 2, 2003

 

FTI CONSULTING COMPLETES SALE OF SEA GROUP

 

ANNAPOLIS, MD, September 2, 2003—FTI Consulting, Inc. (NYSE: FCN), the premier national provider of turnaround, bankruptcy and litigation-related consulting services, today announced that it has completed the sale of its SEA practice group to SEA’s senior management. The sale of SEA completes the disposition of FTI’s former Applied Sciences group, the results of which have been presented as discontinued operations in FTI’s financial statements.

 

FTI received cash of $10.0 million, which was used to reduce the outstanding balance under FTI’s existing term loan, and a promissory note from the buyer in the amount of $6.0 million, to be paid over seven years, with interest payable monthly at 9.0 percent per annum and principal payable monthly beginning in the fourth year. As previously announced, FTI reduced the carrying value of the SEA assets by $3.0 million and recorded an additional $4.0 million loss on the sale, consisting of $3.4 million in expected income taxes and $600,000 in other transaction-related costs, in its financial results for the second quarter of 2003.

 

About FTI Consulting

 

FTI Consulting is a multi-disciplined consulting firm with leading practices in the areas of turnaround, bankruptcy and litigation-related consulting services. Modern corporations, as well as those who advise and invest in them, face growing challenges on every front. From a proliferation of “bet-the-company” litigation to increasingly complicated relationships with lenders and investors in an ever-changing global economy, U.S. companies are turning more and more to outside experts and consultants to meet these complex issues. FTI is dedicated to helping corporations, their advisors, lawyers, lenders and investors meet these challenges by providing a broad array of the highest quality professional practices from a single source.

 

This press release includes “forward-looking” statements that involve uncertainties and risks. There can be no assurance that actual results will not differ from the company’s expectations. The company has experienced fluctuating revenues, operating income and cash flow in some prior periods and expects this may occur from time to time in the future. As a result of these possible fluctuations, the company’s actual results may differ from our projections. Other factors that could cause such differences include pace and timing of additional acquisitions, the company’s ability to realize cost savings and efficiencies, competitive and general economic conditions, and other risks described in the company’s filings with the Securities and Exchange Commission.

 

FTI is on the Internet at www.fticonsulting.com.

 

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