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) |
November 5, 2003 |
INTERPOOL, INC.
______________________________________________________________________________________________________________
(Exact name of registrant as specified in its
charter)
Delaware
|
|
1-11862 |
|
13-3467669 |
211 College Road East, Princeton, New Jersey |
08540 |
(Address of principal executive offices) |
(Zip Code) |
Registrant's Telephone Number, including area code: |
(609) 452-8900 |
Not Applicable |
|
(Former name or former address, if changed since last report) |
Item 5. | Other Events. |
On November 5, 2003, Interpool, Inc. (the Company) reported preliminary unaudited restated financial results for the years ended December 31, 2000 and 2001 and preliminary unaudited financial results for the year ended December 31, 2002. The Company also announced preliminary unaudited restated financial results for the quarter ended March 31, 2002 and preliminary unaudited financial results for the quarter ended March 31, 2003.
As previously announced, the release of the Companys financial results for 2002 and the filing of its Form 10-K for the year ended December 31, 2002 have been delayed since March because the Company has been engaged in a restatement of its past financial statements to correct the accounting treatment for certain transactions. Complete financial statements, including footnotes, for the years ended December 31, 2000, 2001 and 2002 and the quarter ended March 31, 2003 are not currently available. As a result, the Company is not yet able to file its Form 10-K for the year ended December 31, 2002 or its Form 10-Q for the quarter ended March 31, 2003 with the Securities and Exchange Commission.
The amounts set forth in the Companys preliminary unaudited financial statements, giving effect to the restatement, continue to be evaluated by the Company and will remain subject to change until the Companys evaluation and the audits and review by the Companys independent auditors have been completed.
As previously announced, the Companys auditors, KPMG LLP, which replaced Arthur Andersen LLP during 2002, have not yet completed their audits of the Companys 2000, 2001 and 2002 financial statements or their review of the Companys March 31, 2003 interim quarterly results, and will not complete these audits or this review until after they receive and are able to review a final report of the special counsel engaged by the Companys audit committee to conduct an inquiry into the circumstances causing the Companys financial statements to require restatement. This inquiry was conducted by the law firm of Morrison & Foerster LLP with the assistance of forensic accountants from Ernst & Young LLP. A preliminary written report of this inquiry has been prepared and furnished to the Companys Board of Directors and KPMG and a final version of this report will be delivered to the Board and KPMG as soon as it is available.
Complete information about the Companys financial results for the years ended December 31, 2000, 2001 and 2002, including a description of the changes to the Companys previous financial statements resulting from the restatement, the recommendations made by the audit committees special counsel, changes made by the Company in its internal procedures and controls, and the other steps being taken by the Company to implement the special counsels recommendations, will be included in the Companys Form 10-K for the year ended December 31, 2002. The Company will file its 2002 Form 10-K as soon as possible but at the present time the Company is unable to predict when this filing will be made.
In connection with the continued delay in the release of the Companys financial statements, the Company requested that its lenders and other financial institutions provide further extensions of the waivers previously granted by these institutions to allow for late filing of the Companys financial statements and reports with the Commission. The Company has received all necessary waivers, most of which allow the Company to file the Form 10-K on or before January 9, 2004. Interpool is continuing to work actively with a few institutions, which initially granted only short-term waivers, to arrange to have these waivers extended through January 9, 2004, where possible.
A copy of the Companys November 5, 2003 press release is attached hereto as an Exhibit to this Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
99 | Press Release dated November 5, 2003 (with attached preliminary unaudited financial information). |
Item 9. Regulation FD Disclosure
The Companys November 5, 2003 press release contained preliminary unaudited financial information for completed fiscal periods. A copy of this press release is included as Exhibit 99 hereto. The information provided in this Current Report on Form 8-K is being furnished pursuant to Item 12, Results of Operations and Financial Condition.
[Remainder of page intentionally left blank;
signature on following page.]
SIGNATURES
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 hereunto duly authorized.
INTERPOOL, INC. By: /s/ Martin Tuchman Name: Martin Tuchman Title: Chairman and Chief Executive Officer |
Dated: November 5, 2003