Hayes Lemmerz International 8-K 2009
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
March 13, 2009 (March 9, 2009)
Date of Report (Date of earliest event reported)
Hayes Lemmerz International, Inc.
(Exact name of registrant as specified in its charter)
(Registrants telephone number, including area code)
(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:
TABLE OF CONTENTS
(a) On March 9, 2009, the Audit Committee of Hayes Lemmerz International, Inc. (the Company) determined that the Companys previously issued financial statements included in the following periodic reports should no longer be relied upon due to errors in the loss per common share data as set forth in the Statements of Operations for the following accounting periods:
The weighted average shares outstanding data for the above periods were not adjusted in accordance with Paragraph 55 of Statement of Financial Accounting Standards No. 128, Earnings Per Share (SFAS 128) in connection with the Companys equity rights offering in May 2007. SFAS 128 provides that if a rights issue is offered to all existing stockholders at an exercise price that is less than the fair value of the stock, then the weighted average shares outstanding and basic and diluted earnings per share shall be adjusted retroactively for the bonus element for all periods presented. Because the Company had a loss in all relevant periods, there is no difference between basic and diluted earnings per share. The following tables set forth the corrected loss per common share data for these periods:
Twelve months ended each of January 31, 2008, January 31, 2007 and January 31, 2006:
Three, six and nine months ended each of April 30, 2006, July 30, 2006 and October 31, 2006:
Three, six and nine months ended each of April 30, 2007, July 31, 2007 and October 31, 2007:
No other periods or financial statements were affected by this error. The Audit Committee has discussed with the Companys independent auditors the matters disclosed in the Form 8-K.
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: March 13, 2009