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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 10-K/A
(AMENDMENT NO. 1)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (Fee Required)
For the fiscal year ended June 30, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (No Fee Required)
For the transition period from ________________ to _______________
Commission File Number 1-1000
SPARTON CORPORATION
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(Exact name of registrant as specified in its charter)
OHIO 38-1054690
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(State of Incorporation) (IRS Employer Identification No.)
2400 East Ganson Street, Jackson, Michigan 49202
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(Address of principal executive offices) (Zip Code)
Common Stock, $1.25 Par Value NEW YORK STOCK EXCHANGE
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(Title of each class) (Name of each exchange on which registered)
Registrant's telephone number, including area code: (517) 787-8600
Securities registered pursuant to Section 12(g) of the Act: NONE
Indicate by checkmark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in Part III of this Form 10-K or any amendment
to this Form 10-K. [ ]
The aggregate market value of voting stock held by non-affiliates of the
registrant as of August 31, 2001, was $31,398,000.
The number of shares of common stock outstanding as of August 31, 2001, were
7,570,090.
Documents incorporated in part by reference:
Part IV - Portions of the 2001 Annual Report to Shareowners of Sparton
Corporation ("Annual Report") are filed as Exhibit 13
herewith.
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DESCRIPTION OF AMENDMENT:
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The Company has filed this 10-K/A to amend a typographical error that appears
in Exhibit 13 to Item 14 (Exhibits, Financial Statement Schedules and reports
on form 8-K) of the 10-K filed on September 28, 2001. The error appears on Page
15 of Exhibit 13 and consists of a transposition of the descriptive headers for
two lines in the Shareowners Equity subsection of the Liabilities and
Shareowners' Equity section of the Consolidated Balance Sheet. The row headers
"Retained Earnings" and "Capital in excess of par value" in that subsection
were transposed. The column headers and corresponding financial information that
appeared in the Consolidated Statements of Shareowners' Equity section of
Exhibit 13 was correct.
PART IV
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
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(a) The following financial statements are filed as part of this report on
Form 10-K:
The following Consolidated Financial Statements of Sparton Corporation and
Subsidiaries and Report of Independent Auditors, included on Pages 14-24 and 18,
respectfully, of Exhibit 13 filed hereunder are incorporated by reference in
Item 8.
Page Reference
Annual Report
to Shareowners
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Data from the 2001 Annual Report to Shareowners of Sparton Corporation:
Consolidated balance sheets at June 30, 2001 and 2000 14 - 15
For the years ended June 30, 2001, 2000 and 1999:
Consolidated statements of operations 16
Consolidated statements of cash flows 17
Consolidated statements of shareowners' equity 18
Notes to consolidated financial statements 19 - 24
Report of Independent Auditors 18
Financial Statement Schedule(s):
Sparton Corporation & Subsidiaries for the Years Ended June 30
Schedule II - Valuation and Qualifying Accounts (Consolidated)
Reserves deducted from assets in the balance sheets:
Inventory Reserve Accounts
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Balance at Charged Balance
beginning to costs and at end
of period expenses Deductions (1) of period
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Year ended 2001 $(4,540,000) $(1,859,000) $1,826,000 $(4,573,000)
Year ended 2000 (3,580,000) (2,246,000) 1,286,000 (4,540,000)
Year ended 1999 (2,928,000) (2,062,000) 1,410,000 (3,580,000)
(1) Deductions from the inventory reserve accounts represent obsolete
or unsaleable inventory written off.
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All other schedules have been omitted since the required information is not
present or not present in amounts sufficient to require submission of the
schedule, or because the information required is included in the consolidated
financial statements or the notes thereto.
(b) Report on Form 8-K was filed June 1, 2001, to report the repurchase of
78,000 shares of common stock at $6.63 for its treasury.
(c) Exhibits
See Exhibit Index on page 10.
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Exhibit Index
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3 and 4 Articles of Incorporation of the Registrant were
filed with Form 10-K for the year ended June 30,
1981, and an amendment thereto was filed with Form
10-Q for the three-month period ended September 30,
1983, and are incorporated herein by reference.
Bylaws of the Registrant were filed with Form 10-K
for the year ended June 30, 1981, and an amendment
thereto was filed on Form 10-Q for the three-month
period ended December 31, 2000, and are incorporated
herein by reference.
Code of Regulations of the Registrant were filed
with Form 10-K for the year ended June 30, 1981, and
an amendment thereto was filed with Form 10-Q for
the three-month period ended September 30, 1982, and
are incorporated herein by reference.
13 Portions of the 2001 Annual Report to Shareowners (filed
herewith and attached).
22 Subsidiaries (filed herewith and attached).
23 Consent of independent auditors (filed herewith and attached).
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