SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): February 27, 2001
HANOVER COMPRESSOR COMPANY
(Exact Name of Registrant as Specified in Charter)
Delaware 1-13071 75-2344249
(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
12001 North Houston Rosslyn 77086
Houston, Texas 77086 (Zip Code)
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (281) 447-8787
Item 5. Other Events.
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See the following press release regarding the Company's plans to issue its
results for the fourth quarter and full year 2000:
HANOVER COMPRESSOR CONFIRMS RANGE OF ANALYSTS' FOURTH QUARTER ESTIMATES: 4Q00
CONFERENCE CALL SCHEDULED FRIDAY, MARCH 9TH, 10:30 A.M. ET
HOUSTON, February 27, 2001 - Hanover Compressor Company (NYSE:HC), a leading
provider of outsourced natural gas compression services, today said it expects
to report cash flow and earnings per share results that are within the range of
analysts' consensus estimates for the fourth quarter ended December 31, 2000.
Analysts who follow the Company have projected EBITDA (income before income
taxes, interest expense, leasing expense, distributions on mandatorily
redeemable convertible preferred securities, and depreciation and amortization)
of between $62 million and $68 million for the fourth quarter 2000. They also
have estimated the Company's earnings per fully diluted share at between $0.26
and $0.28.
The company plans to issue its results for the fourth quarter and full year
after the markets close on March 8th. Michael J. McGhan, president and chief
executive officer, and William Goldberg, executive vice president and chief
financial officer, will host a telephone conference call with investors Friday,
March 9, to review Hanover's results and answer questions. The details of the
call are as follows:
Date: Friday, March 9, 2001
Time: 10:30 a.m. (ET)
Dial-In #: 719-457-2617
Ask for the Hanover Compressor conference call
For those unable to listen to the live call, a replay will be available from
1:30 p.m. (ET) on Friday, March 9, 2001, until midnight, Friday, March 16. To
listen to the replay, please call (719) 457-0820. The access code for the
Hanover Compressor call is 543582.
Hanover Compressor Company is the market leader in full service natural gas
compression and a leading provider of service, financing, fabrication and
equipment for contract natural gas handling applications. Hanover provides this
equipment on a rental, contract compression, maintenance and acquisition
leaseback basis to natural gas production, processing and transportation
companies that are increasingly seeking outsourcing solutions. Founded in 1990
and a public company since 1997, its customers include premier independent and
major producers and distributors.
Certain matters discussed in this press release are "forward-looking statements"
intended to qualify for the safe harbors from liability established by the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can generally be identified as such because of the context of the
statement and will include words such as "believes," "anticipates," "expects,"
"estimates," or words of similar import. Similarly, statements that describe
Hanover's future plans, objectives or goals are also forward-looking statements.
Such forward-looking statements are subject to certain risks and uncertainties
which could cause actual results to differ materially from those anticipated as
of the date of this press release. The risks and uncertainties include: the
loss of market share through competition; the introduction of competing
technologies by other companies; a prolonged, substantial reduction in oil and
gas prices which would cause a decline in the demand for Hanover's compression
and oil and gas production equipment; new governmental safety, health and
environmental regulations which could require Hanover to make significant
capital expenditures; inability to successfully integrate acquired businesses;
and changes in economic or political conditions in the countries in which
Hanover operates. The forward-looking statements included in this press release
are only made as of the date of this press release, and Hanover undertakes no
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances. A discussion of these factors is included
in the Company's periodic reports filed with the Securities and Exchange
Commission.
SIGNATURES
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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.
HANOVER COMPRESSOR COMPANY
Date: February 27, 2001 By: /s/ Michael J. McGhan
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Name: Michael J. McGhan
Title: President and Chief Executive Officer