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): April 8, 2002
GLOBAL POWER EQUIPMENT GROUP INC.
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(Exact name of registrant as specified in its charter)
Delaware 001-16501 73-1541378
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
6120 South Yale, Suite 1480, Tulsa, Oklahoma 74136
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (918) 488-0828
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Item 4. Changes To Registrant's Certifying Accountant.
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On April 8, 2002, Global Power Equipment Group Inc., a Delaware
corporation (the "Company"), determined not to continue to engage Arthur
Andersen LLP ("Arthur Andersen") as its independent auditor and appointed
PricewaterhouseCoopers LLP ("PricewaterhouseCoopers") as its new independent
auditor for the fiscal year ending December 28, 2002. This determination
followed the decision of the Company's Board of Directors, upon the
recommendation of the Audit Committee, to seek proposals from other independent
auditing firms to audit the Company's financial statements for fiscal 2002. The
decision not to renew the engagement of Arthur Andersen and to retain
PricewaterhouseCoopers as the Company's independent auditor for fiscal 2002 was
approved by the Company's Board of Directors upon the recommendation of the
Audit Committee. The decision not to retain Arthur Andersen is not a reflection
of Arthur Andersen's capabilities or quality of service to the Company. Arthur
Andersen has provided quality service and demonstrated a high level of
professionalism throughout their relationship with the Company.
Arthur Andersen's reports on the Company's consolidated financial
statements for each of the fiscal years ended December 29, 2001 and December 30,
2000, did not contain an adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope or accounting principles.
During the fiscal years ended December 29, 2001 and December 30, 2000, and
through the date of this Form 8-K, there were no disagreements with 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 them to make reference to the subject
matter in connection with their report on the Company's consolidated financial
statements for such years. None of the reportable events described under Item
304(a)(1)(v) of Regulation S-K occurred within the Company's two most recent
fiscal years and the subsequent interim period through the date of this Form
8-K.
The Company provided Arthur Andersen with a copy of the disclosures in
the preceding paragraph. A letter from Arthur Andersen to the Securities and
Exchange Commission dated April 11, 2002, stating its agreement with these
statements is attached as Exhibit 16.1.
During the fiscal years ended December 29, 2001 and December 30, 2000,
and through the date of this Form 8-K, the Company did not consult
PricewaterhouseCoopers with respect to 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, or any other matters or reportable events described under Item
304(a)(2)(i) and (ii) of Regulation S-K.
A proposal will be presented at the Company's 2002 Annual Meeting of
Stockholders asking the stockholders to ratify the appointment of
PricewaterhouseCoopers as the Company's independent auditor.
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Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
16.1 Letter from Arthur Andersen LLP to the Securities and
Exchange Commission dated April 11, 2002.
99.1 Global Power Equipment Group Inc. press release dated
April 9, 2002.
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.
GLOBAL POWER EQUIPMENT GROUP INC.
Date: April 12, 2002 By: /s/ John M. Matheson
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John M. Matheson
Secretary
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Exhibit Index
Exhibit
Number Description
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16.1 Letter from Arthur Andersen LLP to the Securities and
Exchange Commission dated April 11, 2002.
99.1 Global Power Equipment Group Inc. press release dated April
9, 2002.