UNITED STATES 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): February 10, 2016
SPARTAN MOTORS, INC.
(Exact Name of Registrant as Specified in Its Charter)
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Michigan |
0-13611 |
38-2078923 |
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(State or Other Jurisdiction of Incorporation) |
(Commission File No.) |
(IRS Employer Identification No.) |
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1541 Reynolds Road, Charlotte, Michigan |
48813 |
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517-543-6400
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Section Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 2.02 |
Results of Operations and Financial Condition |
On February 10, 2016, Spartan Motors, Inc. issued a press release announcing its preliminary revenue and operating income for the quarter ended December 31, 2015. A copy of the press release is attached to this Current Report as Exhibit 99.1.
The information in this Item 2.02 and the attached Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
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Item 7.01 |
Regulation FD Disclosure |
Spartan Motors, Inc. (the “Company”) announced that Daryl M. Adams, Chief Executive Officer, Frederick J. Sohm, Chief Financial Officer and Greg Salchow, Group Treasurer, will be presenting at the BB&T 31st Annual Transportation Services Conference on February 10, 2016. A copy of the management presentation will be available on the Company’s website at www.spartanmotors.com and is attached as Exhibit 99.2 to this Current Report.
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Item 9.01 |
Financial Statements and Exhibits |
| (d) | Exhibits |
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99.1 |
Press Release dated February 10, 2016 regarding the financial results for the quarter ended December 31, 2015. |
| 99.2 | Presentation material to be presented February 10, 2016. |
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.
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SPARTAN MOTORS, INC. |
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Dated: February 10, 2016 |
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/S/ Frederick J. Sohm |
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By: Frederick J. Sohm |
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Its: Chief Financial Officer and Treasurer |
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2
Exhibit 99.1
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FOR IMMEDIATE RELEASE
SPARTAN MOTORS ANNOUNCES PRELIMINARY RESULS FOR FOURTH QUARTER OF 2015
COMPANY TO PRESENT TODAY AT BB&T TRANSPORTATION SERVICES CONFERENCE
CHARLOTTE, Mich., February 10, 2016 – Spartan Motors, Inc. (NASDAQ: SPAR) (Spartan or the Company) today announced preliminary financial results for the fourth quarter of 2015. The Company expects fourth quarter revenue of approximately $140 million, higher than previous guidance of $130 - $135 million. Management also projects a fourth quarter 2015 operating loss of approximately $10.0 million versus prior guidance of an operating loss of approximately $3.0 million. Expected results for the fourth quarter of 2015 include incremental, non-recurring, pre-tax charges of $6.3 million for certain warranty accruals and an additional $0.5 million pertaining to the wind down of our joint venture with Gimaex. Spartan is increasing warranty accruals for service campaigns on certain legacy product designs, as well as general warranty reserves based on a comprehensive review of claims history.
Management intends to provide further detail on the fourth quarter and full year 2015, as well as its outlook on 2016, when it reports financial results on Thursday, February 25, 2016, prior to the market open. Spartan will also host a webcast of its conference call on the same day at 10 a.m. ET to discuss its financial results with analysts and institutional investors.
Spartan Motors management is presenting today at the BB&T 31st Annual Transportation Services Conference. The Company’s presentation, scheduled for 3:45pm Eastern, will be webcast and interested parties may access the webcast in the investor relations section of www.spartanmotors.com.
About Spartan Motors
Spartan Motors, Inc. is a leading designer, engineer, manufacturer and marketer of a broad range of specialty vehicles, specialty chassis, vehicle bodies and parts for the fleet and delivery, recreational vehicle (RV), emergency response, defense forces and contract assembly (light/medium duty truck: Class 3, 4 and 5) markets. The Company's brand names - Spartan Motors, Spartan Specialty Vehicles, Spartan Emergency Response, Spartan Parts and Accessories, and Utilimaster®, a Spartan Motors Company - are known for quality, durability, performance, customer service and first-to-market innovation. The Company employs approximately 1,700 associates at facilities in Michigan, Pennsylvania, South Dakota and Indiana. Spartan reported sales of $507 million in 2014. Visit Spartan Motors at www.spartanmotors.com.
This release contains several forward-looking statements that are not historical facts, including statements concerning our expectations of fourth quarter and full-year 2015 financial results as well as incremental increases to our warranty reserves. These forward-looking statements involve various known and unknown risks, uncertainties, and assumptions that are difficult to predict with regard to timing, extent, and likelihood. Therefore, actual results may materially differ from what may be expressed or forecasted in such forward-looking statements. Factors that could contribute to these differences include the completion of our review of our warranty reserves, additional warranty claims that may be received or other factors that may impact the size of our warranty reserves, and completion of our financial results for the fourth quarter and full-year 2015. Other factors that could affect outcomes are set forth in our Annual Report on Form 10-K and other filings we make with the Securities and Exchange Commission (SEC), which are available at www.sec.gov or our website. All forward-looking statements in this release are qualified by this paragraph. Investors should not place undue reliance on forward-looking statements as a prediction of actual results. We undertake no obligation to publicly update or revise any forward-looking statements in this release, whether as a result of new information, future events, or otherwise.
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CONTACT:
Greg Salchow
Group Treasurer
Spartan Motors, Inc.
(517) 543-6400
Exhibit 99.2
