UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
GRAY COMMUNICATIONS SYSTEMS, INC.
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(Name of Issuer)
CLASS B COMMON STOCK, NO PAR VALUE
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(Title of Class of Securities)
389190208
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(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Cusip No. 389190208 13G Page 2 of 8 Pages
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
-------------------------------------------------------------
SHAPIRO CAPITAL MANAGEMENT COMPANY, INC. -- S.S. 259-58-4489
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
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SAMUEL R. SHAPIRO IS A UNITED STATES CITIZEN
NUMBER OF 5. SOLE VOTING POWER 10,200
SHARES
BENEFICIALLY 6. SHARED VOTING POWER 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER 10,200
REPORTING PERSON
WITH 8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,200
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.012%
12. TYPE OF REPORTING PERSON*
IN
Cusip No. 389190208 13G Page 3 of 8 Pages
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
-------------------------------------------------------------
SHAPIRO CAPITAL MANAGEMENT COMPANY, INC. -- ID NO. 58-1830170
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
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SHAPIRO CAPITAL MANAGEMENT COMPANY, INC. IS A GEORGIA CORPORATION
NUMBER OF 5. SOLE VOTING POWER 1,430,871
SHARES
BENEFICIALLY 6. SHARED VOTING POWER 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER 1,430,871
REPORTING PERSON
WITH 8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,430,871
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
16.29%
12. TYPE OF REPORTING PERSON*
IN
Cusip No. 389190208 13G Page 4 of 8 Pages
1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
-------------------------------------------------------------
THE KALEIDOSCOOPE FUND, LP -- ID NO. 58-2126127
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b)
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
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THE KALEIDOSCOOPE FUND IS A GEORGIA LIMITED PARTNERSHIP
NUMBER OF 5. SOLE VOTING POWER 71,950
SHARES
BENEFICIALLY 6. SHARED VOTING POWER 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER 71,950
REPORTING PERSON
WITH 8. SHARED DISPOSITIVE POWER 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
71,950
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.82%
12. TYPE OF REPORTING PERSON*
IN
Cusip No. 389190208 13G Page 5 of 8 Pages
Schedule 13G Additional Information
Item #
1. (a) Name of Issuer:
GRAY COMMUNICATIONS SYSTEMS, INC.
(b) Address of Issuer's Principal Executive Offices:
126 NORTH WASHINGTON STREET
P.O. BOX 48
ALBANY, GA 31702-0048
2. (a) Name of Person Filing:
SAMUEL R. SHAPIRO, SHAPIRO CAPITAL MANAGEMENT COMPANY, INC.
THE KLEIDOSCOPE FUND, L.P.
(b) Address of Principal Business Office for Each of the Above:
3060 PEACHTREE ROAD, N.W., ATLANTA, GEORGIA 30305
(c) Citizenship:
SAMUEL R. SHAPIRO -- U.S. CITIZEN
SHAPIRO CAPITAL MANAGEMENT COMPANY, INC. -- GEORGIA CORPORATION
THE KALEIDOSCOPE FUND IS A GEORGIA LIMITED PARTNERSHIP
(d) Title of Class of Securities:
CLASS B COMMON STOCK--NO PAR VALUE
(e) CUSIP Number:
389190128
3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b). The
person filing is a:
IA
Cusip No. 389190128 13G Page 6 of 8 Pages
4. Ownership:
(a) Amount Beneficially Owned: 1,513,021
(b) Percent of Class: 17.24%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 1,513,021
(ii) shared power to vote or to direct the vote 0
(iii) sole power to dispose or to direct the disposition of 1,513,021
(iv) shared power to dispose or to direct the disposition of 0
5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following. / /
6. Ownership of More than Five Percent on Behalf of Another Person:
See attached
7. Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on by the Parent Holding Company
N/A
8. Identification and Classification of Members of the Group:
N/A
9. Notice of Dissolution of Group:
N/A
10. Certification:
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
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Date:
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Signature
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Name/Title
Cusip No. 389190128 13G Page 7 of 8 Pages
INTRODUCTORY NOTE
This Schedule 13G is being filed by Shapiro Capital Management Company, Inc., an
investment adviser under the Investment Advisers Act of 1940. One or more of
Shapiro Capital Management Company, Inc.'s advisory clients is the legal owner
of the securities covered by this statement. Pursuant to the investment advisory
agreements with its clients, Shapiro Capital Management Company, Inc. has the
authority to direct the investments of its advisory clients, and consequently to
authorize the disposition of the Issuer's shares.
This Schedule 13G is also being filed by Samuel R. Shapiro. Mr. Shapiro is the
president, a director and majority shareholder of Shapiro Capital Management
Company, Inc., in which capacity he exercises dispositive power over the
securities reported herein by Shapiro Capital Management Company, Inc. Mr.
Shapiro, therefore, may be deemed to have indirect beneficial ownership over
such securities. Unless otherwise indicated herein, Mr. Shapiro has no interest
in dividends or proceeds from the sale of such securities, owns no such
securities for his own account and disclaims beneficial ownership of all the
securities reported herein by the Shapiro Capital Management Company, Inc.
The aggregate number and percentage of the Issuer's securities to which this
Schedule 13G relates is 1,513,021 representing 17.24% of the Issuer's
outstanding shares. The beneficial ownership reported by Samuel R. Shapiro and
Shapiro Capital Management Company, Inc. relates to the same shares of the
Issuer in which each such reporting person has a separate beneficial interest.
As of December 31, 2001, Mr. Shapiro owned no shares of the Issuer for his own
account. He may be deemed to be the beneficial owner of 10,200 shares owned by
his wife.
Item 6. Samuel R. Shapiro is the president, director and majority shareholder of
Shapiro Capital Management Company, Inc. He owns no shares of the Issuer for his
individual account, but is deemed to have beneficial ownership of the shares
reported on the Schedule 13G by virtue of his affiliation with Shapiro Capital
Management Company, Inc.
Shapiro Capital Management Company, Inc. is an Investment Advisor registered
under the Investment Advisers Act of 1940 and some of its clients have the right
to receive dividends from the securities which it manages, however, no such
client has an interest relating to more than five percent of the class to which
this Schedule 13G applies.
Item 10. Certification.
Date: December 31, 2001
SAMUEL R. SHAPIRO
Samuel R. Shapiro, in his
individual capacity and as
president of Shapiro Capital Management Company, Inc.
Cusip No. 389190128 13G Page 8 of 8 Pages
AGREEMENT RELATIVE TO THE
FILING OF SCHEDULE 13G
THIS AGREEMENT, made as of the 11th day of February, 2002, by and between
Shapiro Capital Management Company, Inc., a Georgia corporation (an investment
adviser registered with under the Section 203 of the Investment Advisers Act of
1940) (the "Adviser"), and Samuel R. Shapiro, president, director and majority
shareholder of the Adviser ("Affiliated Person");
WITNESSETH:
WHEREAS, the Affiliated Person and the Adviser are both persons required,
pursuant to 17 C.F.R.240.13d-1, to file a statement containing the information
required by Schedule 13G with respect to the following Issuer:
GRAY COMMUNICATIONS SYSTEMS, INC.
Cusip No. 389190128
WHEREAS, the Affiliated Person and the Adviser are each individually
eligible to use Schedule 13G; and
WHEREAS, the Affiliated Person and the Adviser are each responsible for the
timely filing of said Schedule 13G and any amendments thereto, and for the
completion and accuracy of the information concerning each, but not on the
behalf of any other, unless any knows or has reason to know that the information
concerning any other is inaccurate; and
WHEREAS, the Schedule 13G attached hereto identifies all the persons and
contains the required information with regard to the Affiliated Person and the
Adviser so that it may be filed with the appropriate persons, agencies and
exchanges on behalf of each of them; and
WHEREAS, the Affiliated Person and the Adviser desire to file the Schedule
13G attached hereto on behalf of each of them.
NOW, THEREFORE, in consideration of the mutual agreements and covenants set
forth herein, the parties hereto agree that the Schedule 13G attached hereto
shall be executed by the Affiliated Person, in his individual capacity and as
president of the Adviser, and filed with the appropriate persons, agencies and
exchanges, on behalf of both of them.
IN WITNESS WHEREOF, the undersigned have executed this Agreement Relative
to the Filing of Schedule 13G as of the day, month and year first above written.
SAMUEL R. SHAPIRO
Samuel R. Shapiro, in his
individual capacity and as
president of Shapiro Capital Management Company, Inc.