UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K/A
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
June 12, 2002
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
COMMISSION FILE NUMBER 1-11775
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TIMCO Aviation Services, Inc.
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(Exact Name Of Registrant As Specified In Its Charter)
Delaware 65-0665658
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(State Or Other Jurisdiction Of (IRS Employer Identification No.)
Incorporation Or Organization)
623 Radar Road
Greensboro, N.C. 27410
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(Address Of Principal Executive Offices)
(336) 668-4410 x 3061
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(Registrant's Telephone Number,
Including Area Code)
Aviation Sales Company
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(Former Name Or Former Address,
If Changed Since Last Report)
The registrant's Form 8-K dated June 6, 2002 is hereby amended in its entirety
to read as follows:
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
TIMCO Aviation Services, Inc. (the "Company") has elected, effective June 12,
2002, to engage KPMG LLP as its independent auditors to audit the Company's
consolidated financial statements for the year ending December 31, 2002. KPMG
LLP will commence its engagement with the review of TIMCO's financial statements
for the fiscal second quarter ended June 30, 2002. The decision to dismiss
Arthur Andersen LLP ("Arthur Andersen"), effective June 12, 2002, the Company's
prior independent auditors, and to retain KPMG as the Company's independent
auditor was made by the Audit Committee of the Board of Directors.
The Company's auditors for the last two years have been Arthur Andersen. Arthur
Andersen's reports on the Company's consolidated financial statements for each
of the years ended December 31, 2001 and 2000 contained a going concern
modification, but did not otherwise contain an adverse opinion or disclaimer of
opinion, nor were they otherwise qualified or modified as to uncertainty, audit
scope or accounting principles.
During the years ended December 31, 2001 and 2000 and through the date of this
Current Report on Form 8-K, there were no disagreements between the Company and
Arthur Andersen on any matter of accounting principle or practice, financial
statement disclosure, or auditing scope or procedure which, if not resolved to
Arthur Andersen's satisfaction, would have caused it to make reference to the
subject matter in connection with its report on the Company's consolidated
financial statements for such years; and there were no reportable events as
defined in Item 304(a)(1) (v) of Regulation S-K.
The Company has provided Arthur Andersen with a copy of the foregoing
disclosures. Attached as Exhibit 16.1 is a copy of Arthur Andersen's letter,
dated June 12, 2002, stating its agreement with Paragraphs 2 and 3 of this
Item 4. The Company has made reasonable efforts to obtain a letter from Arthur
Andersen with respect to its agreement or disagreement with Paragraph 1 of this
Item 4. However, the Company has been advised by representatives of Arthur
Andersen that they are no longer issuing letters with respect to these issues.
During the two most recent fiscal years ended December 31, 2001 and 2000 and
through the date of this Current Report on Form 8-K, the Company has not
consulted with KPMG LLP regarding either (i) the application of accounting
principles to a specified transaction, either completed or proposed; or the type
of audit opinion that might be rendered on the Company's consolidated financial
statements, and neither a written report was provided to the Company or oral
advice was provided that KPMG LLP concluded was an important factor considered
by the Company in reaching a decision as to the accounting, auditing, or
financial reporting issues; or (ii) any matter that was either the subject of a
disagreement, as that term is defined in Item 304(a) (1)(iv) of Regulation S-K
and the related instructions to Item 304 of Regulation S-K, or a reportable
event, as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit No. Description
Exhibit 16.1 Letter from Arthur Andersen LLP to the US Securities and
Exchange Commission dated June 12, 2002
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, this 10th day of September, 2002.
TIMCO AVIATION SERVICES, INC.
/s/ C. Robert Campbell
C. Robert Campbell
Executive Vice President and CFO
EXHIBIT INDEX
Exhibit No. Description
16.1 Letter from Arthur Andersen LLP to the US Securities and
Exchange Commission dated June 12, 2002