8-K 1 eightk.txt 8-K 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 - July 8, 2003 --------------------------------- (Date of earliest event reported) OWOSSO CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter)

Pennsylvania 0-25066 23-2756709 ------------------------------- ---------------------- --------------------------------- (State or other jurisdiction of (Commission file number) (IRS Employer Identification No.) incorporation or organization) 22543 Fisher Road PO Box 6660 Watertown, New York 13601 ---------------------------------------- --------- (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (315) 782 5910 OWOSSO CORPORATION FORM 8-K -------------------------------------------------------------------------------- TABLE OF CONTENTS Page Item 5. Other Events 3 Item 7. Financial Statements and Exhibits 3 1 Item 5. Other Events. On July 8, 2003 registrant issued a press release announcing its delisting from the Nasdaq SmallCap Market. A copy of the press release is filed as an exhibit to this report and is incorporated herein by reference. Item 7. Financial Statements and Exhibits. (c) Exhibits: 99.1 Press release dated July 8, 2003 2 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. OWOSSO CORPORATION Date: July 8, 2003 By: George B. Lemmon Jr. -------------------------- George B. Lemmon Jr. Chairman, President and Chief Executive Officer 3 Exhibit Index Exhibit No. Description ------------- -------------- 99.1 Press release dated July 8, 2003. 4

Pro Forma July 28, 2002 Adjustments Pro Forma ------------- ----------- ------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 248,000 $ 248,000 Receivables, net 3,084,000 3,084,000 Inventories, net 1,893,000 1,893,000 Net assets held for sale 6,016,000 $(4,946,000) (a) 1,070,000 Income taxes receivable -- -- Prepaid expenses and other 819,000 819,000 Notes receivable -- 300,000 (b) 300,000 Deferred taxes 393,000 393,000 ------------ ----------- ------------ Total current assets 12,453,000 (4,646,000) 7,807,000 PROPERTY, PLANT AND EQUIPMENT, NET 6,072,000 6,072,000 GOODWILL, NET 8,894,000 8,894,000 OTHER INTANGIBLE ASSETS, NET 5,317,000 5,317,000 NET ASSETS OF DISCONTINUED OPERATIONS HELD FOR SALE 1,078,000 1,078,000 OTHER ASSETS 142,000 142,000 ------------ ----------- ------------ TOTAL ASSETS $ 33,956,000 $(4,646,000) $ 29,310,000 ============ =========== ============ LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 2,144,000 $ 2,144,000 Accrued expenses 1,556,000 1,556,000 Current portion of long-term debt 19,304,000 (10,700,000) (c) 8,604,000 ------------ ----------- ------------ Total current liabilities 23,004,000 (10,700,000) 12,304,000 LONG-TERM DEBT, LESS CURRENT PORTION 5,257,000 5,257,000 COMMON STOCK PUT OPTION 600,000 600,000 POSTRETIREMENT BENEFITS AND OTHER LIABILITIES 405,000 405,000 DEFERRED TAXES 1,194,000 1,194,000 ACCRUED PREFERRED STOCK DIVIDENDS 2,325,000 2,325,000 SHAREHOLDERS' EQUITY 1,171,000 6,054,000 (d) 7,225,000 ------------ ----------- ------------ TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 33,956,000 $(4,646,000) $ 29,310,000 ============ =========== ============

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