SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 6, 2001
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CDW Computer Centers, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Illinois 0-21796 36-3310735
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
200 N. Milwaukee Ave. 60061
Vernon Hills, Illinois (Zip Code)
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (847) 465-6000
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N/A
(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On August 6, 2001, CDW Computer Centers, Inc. issued a press release
updating certain projections regarding its performance in the third quarter of
2001 that it had previously disclosed in a press release dated as of July 19,
2001. The text of the August 6, 2001 release is as follows:
Vernon Hills, Illinois, August 6, 2001
CDW Computer Centers, Inc. (Nasdaq:CDWC) today announced that average daily net
sales for the month of July 2001 were flat compared to July 2000.
Chairman and CEO John Edwardson commented, "In light of the proposed
public offering of 8.75 million shares of common stock by three of the Company's
shareholders, we felt it was appropriate to provide investors with recent sales
data and revised revenue and earnings guidance. Our business customers continue
to be affected by the current economic downturn. Based on recent sales trends
and the continuing soft IT spending environment there is uncertainty as to our
ability to achieve original sales targets for August and September of 2001.
Accordingly, it now appears that sales for the third quarter ending September
30, 2001 will be in the range of $960 million to $1.010 billion. This range is
based upon achieving modest increases in daily sales in August and September
versus the current daily sales rate. Our ability to achieve such sales increases
is dependent on IT spending levels, anticipated strength in our government sales
base and competitive conditions. We expect earnings per diluted share for the
third quarter to be in the range of $0.43 to $0.47."
"We remain optimistic on the Company's long-term outlook and believe
that CDW's performance will continue to outpace the industry. CDW has
demonstrated a unique ability to overcome and adapt to market challenges and we
remain confident in our ability to successfully execute our profitable and
scalable business model," Edwardson concluded.
A brief conference call with be held at 5:45 p.m. eastern time to
discuss this press release. The dial-in number for the call is (888) 455-9655.
The host for the call is John Edwardson and the passcode is CDWC. The
international dial-in number is (712) 271-0343. A replay of the call will be
available beginning two hours after the conclusion of the call until midnight on
August 9, 2001. The replay will be available by dialing (888) 562-3873.
International callers can access the replay by dialing (402) 220-6517.
The statements in this release concerning the Company's projected sales
and projected earnings per share, and other statements of a non-historical basis
(including our position relative to the market) are forward-looking statements
that involve certain risks and uncertainties. Such risks and uncertainties
include the continued acceptance of the Company's distribution channel by
vendors and customers, the continuing development, maintenance and operation of
our IT systems, the timely availability and acceptance of new products,
continuation of key vendor relationships and support programs, changes and
uncertainties in economic conditions that could affect the rate of IT spending
by our customers, changes in pricing by our vendors, our management transition
and the ability of the Company to hire and retain qualified account managers.
Should one or more of these risks or uncertainties materialize, or should our
assumptions underlying forward-looking statements prove incorrect, actual
results may vary materially from those described in this press release.
Additional discussion regarding risks and uncertainties and other factors
affecting the Company's business and prospects is contained in the Company's
filings with the Securities and Exchange Commission.
About CDW Computer Centers, Inc.
CDW(R) (Nasdaq: CDWC - news), ranked No. 435 on the FORTUNE 500, offers
complete, customized technology solutions for businesses, government agencies
and educational institutions nationwide. CDW is a leading source of technology
products and services from companies such as Cisco, Compaq, Hewlett-Packard,
IBM, Intel, Microsoft, Sony, Toshiba and other top name brands. CDW was founded
in 1984 as a home-based business and today employs more than 2,700 coworkers
whose efforts generated net sales of $3.8 billion in 2000. CDW's direct model
offers one-on-one relationships with highly trained account managers; purchasing
via telephone, the award-winning www.cdw.com Web site, and customized
CDW@work(TM) extranets; custom configured solutions and same day shipping;
flexible financing solutions; and, telephone and online technical support with
its factory-trained and A+ certified technicians. Additional information can be
found by visiting http://www.cdw.com .
For more information about CDW:
Visit CDW on the Internet at http://www.cdw.com
Contact CDW Investor Relations via the Internet at investorrelations@cdw.com
Or by telephone at 847-419-8234.
A registration statement relating to the securities covered by the public
offering mentioned above has been filed with the Securities and Exchange
Commission but has not yet become effective. Those securities may not be sold
nor may offers to buy be accepted prior to the time the registration statement
becomes effective. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of those
securities in any state in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of
any such state.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
CDW Computer Centers, Inc.
Date: August 6, 2001 By: /s/ Harry J. Harczak, Jr.
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Harry J. Harczak, Jr.
Executive Vice President Corporate
Strategy and Chief Financial Officer