View:
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) September 26, 2001
SPX CORPORATION
-----------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 1-6948 38-1016240
----------------------------------------------------------------------------
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) Number)
700 Terrace Point Drive
Muskegon, Michigan 49443
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code (231) 724-5000
-----------------------------------------------------------------------------
ITEM 5. Other Events.
On September 20, 2001, the registrant issued the press release filed
as Exhibit 99.1 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press Release issued September 20, 2001.
SIGNATURE
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.
SPX CORPORATION
Dated: September 26, 2001 By: /s/ Christopher J. Kearney
------------------------------------
Christopher J. Kearney
Vice President and General Counsel
INDEX TO EXHIBITS
Exhibit Number Description
-------------- -----------
99.1 Press Release issued September 20, 2001.
EXHIBIT 99.1
SPX THIRD QUARTER RESULTS AT RISK IN LIGHT OF RECENT EVENTS
MUSKEGON, MI - September 20, 2001 - SPX Corporation (NYSE: SPW) today
announced that its third quarter results are at risk based on the negative
business impact last week's terrorist events had on its subsidiary, Inrange
Technologies.
In a press release today, Inrange said that it expected quarterly results
for the period ending September 30, 2001 will be below previous guidance
due to the business impact of last week's terrorist events. Inrange expects
its third quarter revenues to be between $55 and $63 million and, if
airfreight shipments of international orders continue to be delayed,
revenues could fall below this range by an additional $4.0 million. This
would reduce SPX third quarter earnings by as much as $0.15 per share.
John B. Blystone, Chairman, President and Chief Executive Officer of SPX
Corporation said, "The events of last week are incomprehensible. Our
prayers go out to the victims, their families and friends as well as those
people involved in the search and recovery effort. Customer demand and
international shipping restrictions related to the events of September 11
have impacted our Inrange Technologies subsidiary and have put SPX's third
quarter results at risk."
The integration of the former United Dominion businesses is ahead of
schedule. To date, the company has reduced the work force by 1,200 of the
planned 2,000, and is on track to close 49 facilities. Although SPX is
still striving to achieve $6.50 per share for 2001, the unpredictability of
the industrial markets in the current environment could impact results for
the remainder of the year.
SPX Corporation is a global provider of technical products and systems,
industrial products and services, flow technology and service solutions.
The Internet address for SPX Corporation's home page is www.spx.com.
Certain statements in this press release are forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and are subject to the safe harbor created thereby. Please
refer to the Company's public filings for discussion of certain important
factors that relate to forward-looking statements contained in this press
release. The words "believe," "expect," "anticipate," "estimate," and
similar expressions identify forward-looking statements. Although the
Company believes that the expectations reflected in its forward-looking
statements are reasonable, it can give no assurance that such expectations
will prove to be correct.