SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: January 4, 2001
DEL GLOBAL TECHNOLOGIES CORP.
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(Exact name of registrant as specified in its charter)
1-10512
(Commission File Number)
13-1784308
(IRS Employer Identification Number)
New York
(State of Incorporation)
1 Commerce Park, Valhalla, New York 10595
(Address of principal executive offices)
914-686-3600
(Registrant's Telephone Number, including area code)
Item 5. Other Events and Regulation FD Disclosure.
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The Registrant, a New York corporation ("Del"), issued a press
release dated January 4, 2001 announcing that it anticipates achieving record
revenues for Fiscal 2001 ending July 28, 2001 based on record orders received in
the August 2000 to December 2000 period. The Registrant is continuing its review
of previously reported results as well as its efforts to obtain certified
financial statements for the fiscal year ended July 29, 2000. The press release
is attached hereto as an exhibit and is incorporated herein by reference.
Exhibits.
Exhibit Number Description
20.1 Press Release of Del Global
Technologies Corp. dated
January 4, 2001
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.
DEL GLOBAL TECHNOLOGIES CORP.
By: s/Leonard A. Trugman
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Dated: January 4, 2001 Leonard A. Trugman, Chairman, Chief
Executive Officer and President
January 4, 2001 FOR IMMEDIATE RELEASE
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DEL GLOBAL TECHNOLOGIES CORP. PROJECTS RECORD REVENUES FOR FISCAL 2001 BASED
UPON RECORD LEVELS OF INCOMING ORDERS
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Valhalla, NY, January 4, 2001 - Del Global Technologies Corp. (DGTC) announced
it anticipates achieving record revenues for Fiscal 2001 ending July 28, 2001
based on record orders received in the August 2000 to December 2000 period.
The Company indicated that incoming orders for the first 5 months of Fiscal 2001
ending December 31, 2000 are running substantially higher than the corresponding
period last year. Demand for products in the Del Power Conversion Group is at an
all time high and the incoming order rate at its Italian subsidiary, Villa
Sistemi Medicali, acquired in April 2000, is running ahead of last year's
comparable period.
The Company attributes its upturn in bookings to several factors:
o The continuing outsourcing trend for the design and manufacture of medical
imaging systems and critical subsystems by the world's largest imaging
companies.
o The Company's operational strengths in development and manufacturing of
new products.
o The Company's reputation for excellent quality coupled with cost
effectiveness.
o Aggressive marketing by the Company of its capabilities on a global
basis.
In November 2000 the Company's Del Medical Systems Group exhibited at the
Radiological Society of North America ("RSNA") show in Chicago and at the Medica
Conference in Dusseldorf, Germany. At the RSNA show, Del won the No. 1 ranking
for price performance of its medical imaging systems.
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DEL GLOBAL TECHNOLOGIES CORP.
One Commerce Park, Valhalla, NY 10595
Tel: (914) 686-3600 Fax: (914) 686-5425
The Company is continuing its review of previously reported results as well as
its efforts to obtain certified financial statements for the fiscal year ended
July 29, 2000. The Company's Audit Committee has retained independent counsel
and PricewaterhouseCoopers LLP to review all open issues. The review by
PricewaterhouseCoopers and counsel is continuing. In addition, the Company has
hired the law firm of Schulte Roth & Zabel to represent the Company in pending
class action suits.
The Company will issue a further press release announcing when it has a
definitive date for issuing results and will schedule a conference call to
discuss Fiscal 2000 once it files its Form 10-K and 10-Q. The Company plans to
then apply for listing of its common stock on a national securities exchange.
Del Global Technologies Corp. is primarily engaged in the design, manufacture
and marketing of state-of-the-art, cost-effective medical imaging and diagnostic
systems consisting of stationary and portable imaging systems, radiographic/
fluoroscopic systems, mammography systems, Neo-Natal systems, dental imaging
systems and proprietary precision power conversion subsystems for medical as
well as critical industrial applications. These include airport explosives
detection, electronic noise suppression subsystems, analytical instrumentation,
semiconductor capital equipment and energy exploration.
This press release contains forward-looking statements. Such statements involve
various risks that may cause actual results to differ materially. These risks
include, but are not limited to, the effect on the Company of ongoing internal
reviews, external inquiries, and class action litigation pertaining to its
reported financial results, the ability of the Company to obtain certified
financial statements, to file required annual and quarterly reports, and to
reattain an exchange listing, the ability of the Company to grow internally or
by acquisition and to integrate acquired businesses, changing industry and
competitive conditions, and other risks referred to in the Company's
registration statements and periodic reports filed with the Securities and
Exchange Commission.
EXHIBIT 20.1