form8-k.htm
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): December 4, 2007 (November
29, 2007)
NEW
JERSEY RESOURCES
CORPORATION
(Exact
name of registrant as specified in its charter)
|
New
Jersey
(State
or other jurisdiction
of
incorporation)
|
1-8359
(Commission
File
Number)
|
22-2376465
(IRS
Employer
Identification
No.)
|
|
1415
Wyckoff Road
Wall,
New Jersey
(Address
of principal executive offices)
|
|
07719
(Zip
Code)
|
(732)
938-1480
(Registrant's
telephone number, including area code)
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 CFR240.14d-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.
The
information required by this item is included in Item 4.02 and incorporated
herein by reference.
Item
4.02 Non-Reliance on Previously Issued
Financial Statements or a Related Audit Report or Completed Interim
Review.
In
connection with New Jersey Resources Corporation’s (the “Company”) preparation
of its consolidated financial statements for the fiscal year ended September
30,
2007, the Company reassessed its accounting treatment and disclosures for its
derivative instruments under Statement of Financial Accounting Standards 133
“Accounting for Derivative Instruments and Hedging Activities” (“SFAS
133”).
As
a
result of this accounting assessment, the Company determined that certain of
its
derivative instruments have not qualified as cash flow hedges under SFAS 133
as
they did not meet the definition for “critical-terms-match,” as defined under
paragraph 65 of SFAS 133 and related authoritative accounting literature issued
by various standard setting bodies and their related interpretations for all
fiscal periods. Therefore, the Company's management, in consultation
with the Audit Committee, has determined that it must amend and restate certain
of its historical consolidated financial statements and make appropriate changes
in the preparation of its consolidated financial statements for the year ended
September 30, 2007.
The
Chairman of the Company’s Audit Committee, as authorized by the full Audit
Committee, has discussed the restatement with the Company’s independent
registered public accounting firm for all affected periods.
In
light
of the restatement, the Company concluded on November 29, 2007, that investors
should no longer rely on the Company’s previously filed financial statements and
other financial information for each of the fiscal years ended September 30,
2006 and September 30, 2005 and the reports of its independent registered public
accounting firm on such financial statements, and the quarterly reports for
the
periods ended June 30, 2007, March 31, 2007 and December 31, 2006, as well
as
selected financial data for each of the fiscal years 2002 through 2006 as being
in compliance with Generally Accepted Accounting Principles
(“GAAP”).
A
copy of
the press release, dated as of November 30, 2007, is attached as Exhibit 99.1
to
this report and is incorporated herein by reference.
Item
9.01 Financial Statements and
Exhibits
(a) Financial
statements of businesses
acquired: Not
applicable.
(b) Pro forma financial
information: Not
applicable.
(c) Exhibits:
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Exhibit
Number
|
|
Description
|
99.1 News
Release dated November 30, 2007
SIGNATURE
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.
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NEW
JERSEY RESOURCES CORPORATION
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Date:
December 4, 2007
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/s/
Glenn C. Lockwood
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Glenn
C. Lockwood
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Senior
Vice President, Chief Financial Officer and
Treasurer
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EXHIBIT
INDEX
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Exhibit
Number
|
|
Description
|
99.1
News Release dated November 30, 2007.