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):
September 29, 1998
----------------------------------------
THERMOQUEST CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-14262 77-0407461
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
2215 Grand Avenue Parkway
Austin, Texas 78728-3812
(Address of principal executive offices) (Zip Code)
(512) 251-1400
(Registrant's telephone number
including area code)
<PAGE>
This Form 8-K contains forward-looking statements that involve a number of
risks and uncertainties. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements are
set forth under the heading "Forward-looking Statements" in Exhibit 13 to
ThermoQuest Corporation's annual report on Form 10-K for the year ended January
3, 1998. These include risks and uncertainties relating to: competition and
technological change, intellectual property rights and litigation, dependence on
certain key industries, the possible effects of changes in regulations,
ThermoQuest Corporation's acquisition strategy, international operations, and
the potential impact of the year 2000 on processing date-sensitive information.
Item 5. Other Events
On September 29, 1998, ThermoQuest Corporation ("ThermoQuest") issued a
press release announcing that it will incur approximately $4.2 million in pretax
restructuring and other charges in the third quarter, ending October 3, 1998.
ThermoQuest will incur approximately $3.5 million in severance expenses
resulting from an approximate two percent reduction of its workforce
(approximately 50 employees). In addition, ThermoQuest will record a $0.7
million charge relating to the closure of a facility. These charges will reduce
ThermoQuest's third quarter 1998 diluted earnings per share by approximately
$.05. ThermoQuest estimates that these actions will result in 1999 operating
savings of approximately $3 million.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: not
applicable.
(b) Pro Forma Financial Information: not applicable.
(c) Exhibits: not applicable.
<PAGE>
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, thereunto duly authorized, on this 29th day of September, 1998.
THERMOQUEST CORPORATION
By: /s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
