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 27, 2008
Orleans Homebuilders, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware | | 1-6830 | | 59-0874323 | |
(State or Other Jurisdiction
of Incorporation) | | (Commission
File Number) | | (IRS Employer
Identification No.) | |
One Greenwood Square, Suite 101 | | | |
3333 Street Road, Bensalem, PA | | 19020 | |
(Address of Principal Executive Offices) | | (Zip Code) | |
| | | |
Registrant’s telephone number, including area code: (215) 245-7500
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 (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure
During the three months ended December 31, 2007, Orleans Homebuilders, Inc. (the “Company”) determined that its operating strategy no longer supported maintaining a presence in the Phoenix, Arizona market, the Company’s western region. Accordingly, the Company disposed of its entire balance of work-in-process inventory and land in this region. The Company has shut down all operations that supported the western region and terminated employees associated with that region. The Company has historically reported this business as its western region operating segment. The disposed work-in-process inventory and land assets constituted substantially all of the Company’s assets and operations in the western region.
The western region was reported as discontinued operations in the Company’s second quarter fiscal 2008 Form 10Q filed February 8, 2008.
We have furnished as Exhibit 99.1 to this report Unaudited Supplemental Consolidated and Combined Statements of Operations for fiscal 2007, 2006 and 2005, the first two quarters of fiscal 2008 and each of the quarters in fiscal 2007. In each case, the historic statements of operations have been revised to reflect the business in the western region as discontinued operations.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
See exhibit index.
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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.
Dated: February 27, 2008 | | | |
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| | Orleans Homebuilders, Inc. |
| | |
| | By: | Garry P. Herdler |
| | | Name: | Garry P. Herdler |
| | | Title: | Executive Vice President, |
| | | Chief Financial Officer and |
| | | Principal Financial Officer |
| | | | | |
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EXHIBIT INDEX
The following exhibit is furnished herewith:
Exhibit No. | | Description |
| | |
99.1 | | Unaudited Supplemental Consolidated and Combined Statements of Operations for fiscal 2007, 2006 and 2005, the first two quarters of fiscal 2008 and each of the quarters in fiscal 2007 |
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