SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report : September 15, 1997 TELOS CORPORATION (Exact name of registrant as specified in charter) Maryland 1-8443 52-0880974 (State of (Commission (IRS Employer Incorporation) File Number) Identification No.) 19886 Ashburn Road, Ashburn, Virginia 20147 (Address of principle executive offices) (Zip Code) Registrant's telephone number, including area code (703) 724-3800
Item 4. Change in Registrant's Certifying Accountants (a) Previous independent accountants (i) On September 15, 1997, Telos Corporation dismissed Coopers & Lybrand L.L.P. as its independent accountants. (ii) The reports of Coopers & Lybrand L.L.P. on the consolidated financial statements of Telos Corporation and subsidiaries for the past two fiscal years contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principle. (iii) The Registrant's Audit Committee of its Board of Directors approved the decision to change independent accountants. (iv) In connection with its audits for the two most recent fiscal years and through September 15, 1997, there have been no disagreements with Coopers & Lybrand L.L.P. on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements if not resolved to their satisfaction would have caused them to make reference thereto in their report on the financial statements for such years. (v) During the two most recent fiscal years and through September 15, 1997, there have been no reportable events (as defined in Regulation S-K Item 304 (a)(1)(v)) with Coopers & Lybrand L.L.P. (vi) The Registrant has requested Coopers & Lybrand L.L.P. furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of such letter, dated September 17, 1997 is filed as Exhibit 16.1 to this Form 8-K. (b) New independent accountants (i) The Registrant engaged Price Waterhouse L.L.P. as its new independent accountant as of September 15, 1997. During the two most recent fiscal years and through September 15, 1997, the Registrant has not consulted with Price Waterhouse L.L.P. regarding either: (1) 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 Registrant's financial statements; or (2) any matter that was either the subject of a disagreement (as defined in Item 304 (a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) or reportable event (as defined in Item 304 (a)(1)(v) of Regulation S-K). Item 7. Financial Statements and Exhibits (a) Exhibits 16.1 Letter from Coopers & Lybrand L.L.P. regarding change in certifying accountants.
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. Telos Corporation Date: September 18, 1997 By: /s/ Lorenzo Tellez -------------------- Lorenzo Tellez Chief Financial Officer
Coopers & Lybrand L.L.P. September 17, 1997 Securities and Exchange Commission 450 5th Street, N.W. Washington, DC 20549 Gentlemen: We have read the statements made by Telos Corporation (copy attached), which we understand will be filed with the Commission, pursuant to Item 4 of Form 8-K, as part of the Company's Form 8-K report for the month of September 1997. We agree with the statements concerning our Firm in such Form 8-K. Very truly yours, Coopers & Lybrand L.L.P.