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): October 12, 2017
SPARTAN MOTORS, INC.
(Exact Name of Registrant as Specified in Its Charter)
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Michigan (State or Other Jurisdiction of Incorporation) |
0-13611 (Commission File No.) |
38-2078923 (IRS Employer Identification No.) |
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1541 Reynolds Road, Charlotte, Michigan (Address of Principal Executive Offices) |
48813 (Zip Code) |
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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)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On October 12, 2017, Spartan Motors, Inc. (the “Company”) issued a press release regarding an analyst and investor presentation to take place on October 12, 2017 along with a live audio webcast. Copies of the press release and presentation are furnished as Exhibits 99.1 and 99.2 to this Current Report and are incorporated into this Item 7.01 by reference. A copy of the presentation will be available on the Company’s website at www.spartanmotors.com.
The information in this Item 7.01 and the attached Exhibits 99.1 and 99.2 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.
Item 9.01 Financial Statements and Exhibits
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(d) |
Exhibits |
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99.1 |
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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.
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SPARTAN MOTORS, INC. |
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Dated: October 12, 2017 |
/s/ Frederick J. Sohm |
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By: Frederick J. Sohm Its: Chief Financial Officer |
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Exhibit 99.1
Spartan Motors to Unveil Long-term Growth Plan at Analyst/Investor Day, Showcase 16 Vehicles
$1 Billion in Sales and 10% Adjusted EBITDA Margin Highlight Financial Objectives of Growth Strategy
CHARLOTTE, Mich., October 12, 2017 – Spartan Motors, Inc. (NASDAQ: SPAR) (“Spartan” or the “Company”), a global leader in specialty chassis and vehicle design, today will host an analyst and investor day for Wall Street analysts and institutional investors to unveil the Company’s long-term growth objectives.
Management presentations will feature Spartan Motors executives Daryl Adams, President and Chief Executive Officer; Rick Sohm, Chief Financial Officer; and divisional presidents who together will provide an in-depth overview of how the Company has laid a solid foundation for Spartan to drive profitable and sustainable growth.
“Through improved operational discipline and performance, increased accountability and an acute focus on strengthening our team, we are accelerating growth,” said Adams. “Spartan Motors’ financial momentum is increasing because of these changing dynamics, and we are excited to share our progress and the goals we have set for our future.”
2017 marks an inflection point for the Company. Spartan returned to its core competencies to drive profitability and has focused on profitable orders in its strategic shift toward a more valuable product mix. The Company has achieved profitability on an adjusted basis for six straight quarters and has built a solid foundation for the business, creating the necessary momentum to command their road ahead.
Fueled by a strong balance sheet, industry-leading innovation and a proven management team, Spartan’s path forward will be focused on becoming a purpose driven organization. The Company looks to accelerate growth through a customer-centric focus, disruptive innovation, solutions-based products, streamlined operations, and a disciplined approach to identifying strategic opportunities. Today, Spartan is sharing details of its long-term growth objectives:
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Become the #1 or #2 player in each market it serves |
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$1 billion in sales by 2020, versus sales of $506.8 million in 2014, representing an approximate 12-percent compound annual growth rate |
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10% adjusted EBITDA margin, with earnings outpacing top-line growth |
“We saw the potential to nearly double revenues and have set an aspirational, yet achievable goal with our long-term growth strategy,” continued Adams. “We’ve never provided this level of detail as a company, and these objectives represent the visibility we now have as an organization after establishing a solid foundation for continued growth. This path forward demonstrates our commitment to simplify and strengthen the Company to thrive through any market cycle.”
A live audio webcast (and post-event replay) of the formal presentations are accessible on the Company’s website, www.spartanmotors.com/investor-relations. Presentation slides are also available at the same site.
Spartan Motors, Inc.
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) markets. The Company's brand names — Spartan Motors, Spartan Specialty Vehicles, Spartan Emergency Response, Spartan Parts and Accessories, Smeal and its family of brands, including Ladder Tower™ and UST®; and Utilimaster®, a Spartan Motors Company — are known for quality, durability, performance, customer service and first-to-market innovation. The Company employs approximately 2,200 associates, and operates facilities in Michigan, Indiana, Pennsylvania, Missouri, Wisconsin, Nebraska, South Dakota; Saltillo, Mexico; and Lima, Peru. Spartan reported sales of $591 million in 2016. Visit Spartan Motors at www.spartanmotors.com.
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Contact |
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Media: |
Investors: |
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Matt Jackson |
Mike Houston |
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Media Relations |
Investor Relations |
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Lambert, Edwards & Assoc. |
Lambert, Edwards & Assoc. |
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mjackson@lLambert.com |
mhouston@lambert.com |
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(517) 410-6491 |
(480) 270-4812 |
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Samara Hamilton |
Juris Pagrabs |
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Corporate Director of Marketing |
Group Treasurer & Director of Investor Relations |
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Spartan Motors, Inc. |
Spartan Motors, Inc. |
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(517) 997-3860 |
(517) 997-3862 |
Spartan Motors, Inc.
Exhibit 99.2
