10-K/A 1 c77541a1e10vkza.htm AMENDMENT NO. 1 TO FORM 10-K e10vkza
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K/A
(Amendment No. 1)

(Mark One)

       
xbox                    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
     
    For the fiscal year ended December 31, 2002
     
    OR
     
box                    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the Transition Period From ________ to ________

Commission File Number: 0-22334

 
LodgeNet Entertainment Corporation
(Exact name of registrant as specified in its charter)
     
Delaware
(State or other jurisdiction of
incorporation)
  46-0371161
(IRS Employer Identification No.)
     
3900 West Innovation Street, Sioux Falls, ND 57107
(Address of principal executive offices)
  (605) 988-1000
(Registrant’s telephone number, including
area code)

Securities registered to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:
Common Stock, par value $.0001 per share

(Title of Class)

     Indicate by check mark whether the Registrant (1) has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. xbox   Yes   box   No

     Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (Section 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [    ]

     Indicate by check mark whether the Registrant is an accelerated filer (as defined in Rule 12b-2 of the Act). xbox   Yes   box   No

     State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second quarter. $127,366,000.

     The number of shares of common stock of the Registrant outstanding as of May 30, 2003, was 12,431,249 shares.

DOCUMENTS INCORPORATED BY REFERENCE

     None.

 


PART III
PART IV
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
SIGNATURES
Certifications
EXHIBIT INDEX
EX-99.1 Certification Pursuant to 18 USC Sec. 1350


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Explanatory Note

     LodgeNet Entertainment Corporation (the “Company”) hereby amends its Annual Report on Form 10-K for the year ended December 31, 2002 (the “Annual Report”) to include certain information required under Part III, Item 10 not previously filed with the Annual Report.

     In this report, all references to “LodgeNet” “we,” “us,” “our” or the “Company” mean LodgeNet Entertainment Corporation and its subsidiaries, except where it is made clear that the term means only the parent company.

PART III

Item 10. Directors and Executive Officers of the Registrant

Executive Officers of LodgeNet

     Set forth below is certain information concerning our executive officers, and their ages, as of May 30, 2003:

         
Name and Position   Age  

 
 
David M. Bankers, Senior Vice President, Product and Technology
    46  
Stephen D. McCarty, Senior Vice President, Sales & Hotel Relations
    45  
Scott C. Petersen, Chairman of the Board, President and Chief Executive Officer
    47  
Steven R. Pofahl, Senior Vice President, Technical Operations
    43  
Gary H. Ritondaro, Senior Vice President, Finance, Information & Administration
    56  
Steven D. Truckenmiller, Senior Vice President, Programming and Content Management
    50  

     David M. Bankers has served as Senior Vice President and Chief Technology Officer since December 1998. Mr. Bankers joined us in 1989 as Director of Information Systems and was appointed Vice President of Corporate Technologies in 1992. Prior to joining LodgeNet, Mr. Bankers managed Digital Data Production for TGS Technology, Inc.

     Steven D. McCarty has served as Senior Vice President, Sales & Hotel Relations since July 2002. Mr. McCarty joined us in 1992 as Texas Regional Sales Manager and served as Director of Sales, Eastern Region from June 1992 to August 1998, Vice President, Director Sales from August 1998 to December 1999 and Vice President, Sales from January 2000 to July 2002. Prior to joining LodgeNet, Mr. McCarty held various sales management positions with Spectradyne, Inc. and Home Box Office.

     Scott C. Petersen is our Chairman of the Board, President and Chief Executive Officer. Mr. Petersen joined us in 1987 as Senior Vice President for Corporate and Legal Affairs, was appointed Executive Vice President and Chief Operating Officer in 1991, was appointed President and Chief Executive Officer in July 1998 and became Chairman of the Board in October 2000.

     Steven R. Pofahl has served as Senior Vice President, Technical Operation since 1996. Mr. Pofahl joined us in 1989 and served as Director of Installations from March 1992 to March 1996.

     Gary H. Ritondaro has served as Senior Vice President and Chief Financial Officer since 2001. Prior to joining LodgeNet, Mr. Ritondaro served as Senior Vice President and Chief Financial Officer for Mail-Well, Inc., a New

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York Stock Exchange listed manufacturer of envelopes, commercial printing and labels, from 1999 to 2001. From 1996 to 1999, Mr. Ritondaro was Vice President and Chief Financial Officer for Ferro Corporation, a New York Stock Exchange-listed international manufacturer of specialty plastics, chemicals, colors, industrial coatings and ceramics.

     Steven D. Truckenmiller has served as our Senior Vice President, Programming & Content Management since Febraury 2003. Mr Truckenmiller is one of our founding shareholders and was appointed Vice President of Technical Services in 1985, Vice President of Technical Development in 1988 and Vice President of Guest Pay Services in 1991.

PART IV

Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

             
Exhibit            
Number   Description of Document        

 
       
99.1   Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this Amendment No. 1 to Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.

   
  LODGENET ENTERTAINMENT CORPORATION
Date: June 2, 2003
  /s/ Scott C. Petersen

Scott C. Petersen
President, Chief Executive Office and
Chairman of the Board of Directors

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Certification

     I, Scott C. Petersen, certify that:

     1.     I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of LodgeNet Entertainment Corporation.;

     2.     Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

     3.     Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Annual Report;

     4.     The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;

     b) evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this Annual Report (the “Evaluation Date”); and

     c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;

     5.     The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

     a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and

     b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and

     6.     The registrant’s other certifying officers and I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Date: June 2, 2003

 
By: /s/ Scott C. Petersen

Scott C. Petersen
Chief Executive Officer
(Principal Executive Officer)

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Certification

I, Gary H. Ritondaro certify that:

     1.     I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of LodgeNet Entertainment Corporation;

     2.     Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Annual Report;

     3.     Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Annual Report;

     4.     The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;

     b) evaluated the effectiveness of the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this Annual Report (the “Evaluation Date”); and

     c) presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;

     5.     The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent function):

     a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and

     b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls; and

     6.     The registrant’s other certifying officers and I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Date: June 2, 2003

 
By: /s/ Gary H. Ritondaro

Gary H. Ritondaro
Chief Financial Officer
(Principal Financial and Accounting Officer)

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EXHIBIT INDEX

             
Exhibit            
Number   Description of Document        

 
       
99.1   Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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