sec document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): March 15, 2005
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LONE STAR STEAKHOUSE & SALOON, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-19907 48-1109495
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
224 East Douglas, Suite 700, Wichita, KS 67202
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (316) 264-8899
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N/A
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
/ / Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
/ / Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
/ / Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
/ / Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On March 15, 2005, Lone Star Steakhouse & Saloon, Inc., a Delaware
corporation (the "Company") announced its results for the sixteen week fourth
quarter and fifty-two week fiscal year ended December 28, 2004. A copy of the
press release is furnished as Exhibit 99.1 to this report. The press release
that is being furnished as an exhibit to this report has been changed from the
version originally released by the Company to correct certain typographical
errors.
The information furnished pursuant to this Current Report on Form 8-K,
including the exhibit hereto, shall not be considered "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liability of such section, nor shall it be incorporated by
reference into future filings by the Company under the Securities Act of 1933,
as amended, or under the Securities Act of 1934, as amended, unless the Company
expressly sets forth in such future filing that such information is to be
considered "filed" or incorporated by reference therein.
Item 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED
AUDIT REPORT OR COMPLETED INTERIM REVIEW.
As previously disclosed in the Company's Current Report on Form 8-K, filed
with the Securities and Exchange Commission on January 31, 2005, following a
review of its accounting policy and after discussions between authorized
officers of the Company and the Company's independent public accountants, Ernst
& Young LLP ("Ernst & Young"), the Company concluded on January 26, 2005 that
the Company's historical financial statements should be restated to correct an
error relating to accounting for leased properties, and that such financial
statements should no longer be relied upon. The cumulative effect of the
restatement through fiscal 2003 for the periods presented resulted in an
increase in long-term liabilities of $8,336,000, an increase in deferred tax
assets of $3,852,000, an increase in accumulated depreciation of $1,935,000 and
a decrease in retained earnings of $6,419,000. The restatement decreased
previously reported net income for the first three quarters of fiscal 2004 by
$334,000 or $.02 per share ($.02 diluted). The restatement decreased reported
net income by $130,000 or $.01 per share ($.00 diluted) for the quarter ended
December 30, 2003 and $421,000 or $.02 ($.02 diluted) for the year ended
December 30, 2003. The restatement did not have any impact on the Company's
previously reported cash position, cash flows or revenues.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
EXHIBIT NO. EXHIBITS
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99.1 Press Release dated March 15, 2005.
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.
LONE STAR STEAKHOUSE & SALOON,
INC.
Dated: March 16, 2005 By: /s/ John D. White
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Name: John D. White
Title: Executive Vice President