UNITED STATES

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):  July 12, 2018

 

HILL INTERNATIONAL, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

000-33961

 

20-0953973

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

One Commerce Square
2005 Market Street, 17
th Floor
Philadelphia, PA

 

19103

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (215) 309-7700

 

 

(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:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

 

 

 



 

Item 2.02 Results of Operations and Financial Condition.

 

On July 12, 2018, Hill International, Inc. (the “Company”) issued a press release announcing the filing of its Quarterly Report on Form 10-Q for the period ended September 30, 2017 with the Securities and Exchange Commission (“SEC”), certain related results of operations, and its expectations regarding filing other non-timely periodic reports. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 2.02.

 

This Current Report on Form 8-K is being made merely to file the press release under Item 2.02 of Form 8-K.

 

Item 9.01.                                        Other Events.

 

(d)

 

Exhibits

 

 

 

99.1

 

Press Release of the Company, dated July 12, 2018.

 

2



 

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.

 

 

HILL INTERNATIONAL, INC.

 

 

 

By:

/s/ William H. Dengler, Jr.

 

Name:

William H. Dengler, Jr.

Dated: August 3, 2018

Title:

Executive Vice President and General Counsel

 

3


Exhibit 99.1

 

 

Hill International Announces Filing

 

July 12, 2018

 

PHILADELPHIA, July 12, 2018 (GLOBE NEWSWIRE) — Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2017.

 

In the third quarter of 2017, the Company reported Revenue of $123.2 million with a Net Loss of $4.3 million and EPS of ($0.08) including one-time charges of $4.5 million in continuing operations in SG&A expenses.

 

As of July 6, 2018, the company maintains a strong cash position of approximately $26 million and debt of approximately $46 million or a net debt position of approximately $20 million.

 

The Company plans to file its Annual Report on Form 10-K for the year ended December 31, 2017, and its Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2018 in the third quarter of 2018. Once complete, the Company will be current with its regulatory filings. The Company expects to schedule an earnings call for the second quarter 2018 financial results shortly after the Company becomes current in its filings.

 

“We are making substantial progress in bringing the company current and we are working expeditiously to accelerate our remaining outstanding SEC filings. The company is looking forward to being current and excited about the opportunities ahead of us,” said Paul Evans, Hill’s Interim CEO.

 

Hill International, with more than 3,000 professionals in more than 50 offices worldwide, provides program management, project management, construction management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as the eighth-largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.

 

Forward Looking Statements

 

Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings, EBITDA margin, profit improvement, cost savings or other financial items; any statements of belief, any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue, our expenses may be higher than anticipated, and the review of the Company’s accounting, accounting policies and internal control over financial reporting, and the preparation of and the audit or review, as applicable, of restated filings may take longer than currently anticipated or additional restatement adjustments may be identified. We do not intend, and undertake no obligation, to update any forward-looking statement.

 

Hill International, Inc.

Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President

Hill International, Inc.

One Commerce Square

2005 Market Street, 17th Floor

Philadelphia, PA 19103

Tel: 215-309-7707

elizabethzipf@hillintl.com

 

Hill International, Inc.

Marco A. Martinez

SVP & Interim Chief Financial Officer
(215) 309-7951
marcomartinez@hillintl.com

 

InvestorCom

John Glenn Grau
President

(203) 295-7841
jgrau@investor-com.com

 

(HIL-G)

 

Source: Hill International, Inc.