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 19, 2002
-------------------------
SPARTON CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
OHIO 1-1000 38-1054690
---------------------------- ------------------------ -------------------
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (IRS EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
2400 E. GANSON STREET, JACKSON, MICHIGAN 49202
---------------------------------------- ----------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (517) 787-8600
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
In June of 2002, the Board of Directors, including members of the Audit
Committee, met to review, among other matters, the accounting and auditing
services provided to the Company. After reviewing the subject, it was suggested
that as a matter of good corporate practice, the Company solicit proposals for
accounting and auditing services for the fiscal year ending June 30, 2003. That
suggestion was later confirmed by the Audit Committee in its meeting on August
23, 2002. In October 2002, the Company commenced soliciting proposals from a
number of firms, including Ernst & Young, LLP.
The Company received a letter from the Company's auditors, Ernst &
Young LLP, on November 19, 2002 indicating that they resigned as the Company's
independent public accountants effective on that date.
The reports of Ernst & Young LLP on the Company's financial statements
for the fiscal years ended June 30, 2001 and June 30, 2002 did not contain any
adverse opinion or disclaimer of opinion, nor were they qualified or modified as
to uncertainty, audit scope or accounting principles.
In connection with the audits of the Company's financial statements for
each of the fiscal years ended June 30, 2001 and June 30, 2002, and in the
subsequent interim period that ended September 30, 2002, there were no
disagreements between the Company and Ernst & Young LLP on matters of accounting
principles or practices, financial statement disclosure or auditing scope or
procedures which, if not resolved to the satisfaction of Ernst & Young LLP,
would have caused Ernst & Young LLP to make reference to such matter in its
reports on the financial statements of the Company.
In connection with the audits of the Company's financial statements for
each of the fiscal years ended June 30, 2001 and June 30, 2002, and in the
subsequent interim period that ended September 30, 2002, there were no
"reportable events" within the meaning of Item 304(a)(1)(v) of the Securities
and Exchange Commission's Regulation S-K.
The Company has furnished Ernst & Young LLP with a copy of the
foregoing disclosure and requested a letter from Ernst & Young LLP, addressed to
the Securities and Exchange Commission, indicating whether it agrees with the
foregoing statements. A copy of the letter of Ernst & Young LLP is filed with
this report as Exhibit 16.
ITEM 7. EXHIBITS
Exhibit No. Description
----------- -----------
16 Letter from Ernst & Young LLP to the Securities and Exchange
Commission dated November 21, 2002.
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 thereunto duly authorized.
SPARTON CORPORATION
/s/ David W. Hockenbrocht
---------------------------
David W. Hockenbrocht
Chief Executive Officer
November 21, 2002
INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION
----------- -----------
Exhibit 16 Letter of Ernst & Young, LLP. Dated November 21, 2002