UNITED STATES
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): January 19, 1999
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BACOU USA, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-28040 05-0470688
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(Commission file number) (IRS Employer Identification Number)
10 Thurber Boulevard, Smithfield, RI 02917
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 401-233-0333
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<PAGE>
Item 5. OTHER EVENTS
(a) On January 19, 1999, Bacou USA, Inc. (the "Company") issued a Press
Release announcing that net sales for 1998 were $219.6 million, up
67.8% over 1997 and for the fourth quarter net sales were $54.3
million, up 49.1% over the same period in 1997
(b) Exhibits
Item 601
Exhibit Exhibit Title
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Exhibit 99 Press Release
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
BACOU USA, INC.
Registrant
By:/s/Philip B. Barr
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Philip B. Barr
Executive Vice President and
Chief Financial Officer
Dated: January 19, 1999
Contact:
At the Company: At the Financial Relations Board:
Philip B. Barr 212-661-8030
Chief Financial Officer Analyst Information: John McNamara
Investor Relations Media Information: Alan Goldsand
401-233-0333 General Information: Jeff Bogart
FOR IMMEDIATE RELEASE
BACOU USA '98 SALES REACH $219.6 MILLION, UP 67.8% OVER '97 o Q4 '98 Net Sales
Total $54.3 Million, up 49.1% from $36.4 Million for Q4 '97 o Full Year '98 Pro
Forma Internal Growth of 11.1%
SMITHFIELD, R.I., January 19, 1999--Bacou USA, Inc. (NYSE: BAU), a leading
manufacturer of personal protective equipment, today announced that its net
sales for the fourth quarter of 1998 increased to $54.3 million compared with
1997 fourth quarter net sales of $36.4 million, up 49.1%. For the year ended
December 31, 1998, the company reported net sales of $219.6 million, an increase
of 67.8% over net sales for the 1997 period of $130.9 million.
The company attributed the increases to both acquisitions and internal
sales growth. Bacou USA acquired its Biosystems and Survivair divisions in 1997,
and its Howard Leight division in February 1998. If Bacou USA had owned these
businesses for the same periods in 1997 as it did in 1998, the year-to-year
sales comparison would show growth from $197.6 million in 1997 to $219.6 million
in 1998, representing pro forma internal growth of 11.1%.
"Today we are reporting two important milestones for Bacou USA," commented
Walter Stepan, Vice Chairman, President and CEO of Bacou USA. "For the first
time, we have exceeded $200 million in annual sales. More impressively, we
achieved double digit internal growth for 1998. We believe our internal growth
rate shows that our corporate strategy is sound, our execution of that strategy
is working, our customers have accepted and support our strategic direction, and
we have built important sales momentum within the markets for our products."
"Based on these sales results, we anticipate meeting or slightly exceeding
Wall Street's expectations for fourth-quarter and full-year earnings," said
Stepan. According to First Call, the four-analyst consensus for fourth-quarter
earnings per share is $0.30 for Bacou USA, which would be up 30.4% from the
fourth quarter of 1997 (in which the company reported earnings per share prior
to non-recurring items of $0.23). The four-analyst consensus for earnings per
share is $1.45 for the full-year 1998, up 29.5% over 1997 earnings per share of
$1.12 (both years prior to non-recurring items). Bacou USA expects to announce
fourth-quarter and full-year earnings on February 8, 1999.
Bacou USA, Inc. makes and sells leading brands of products that protect the
sight, hearing and respiratory systems of workers against occupational hazards,
as well as related instrumentation including vision screeners, gas monitors and
computerized test benches for respirators. Forbes magazine in November ranked
Bacou USA among America's best 200 small companies. Bacou USA's products,
marketed under Uvex(R), Howard Leight(R), Survivair(R), Pro-Tech(R), Biosystems,
Titmus(R), LaserVision and Lase-R Shield brand names, are sold principally to
industrial safety distributors, fire fighting equipment distributors and optical
laboratories. News and information are available at the company's Website at
http://www.bacouusa.com.
To receive additional information on Bacou USA, Inc.,
via fax, at no charge, dial 1-800-PRO-INFO and enter
code BAU. For international access, dial
732-544-2850.
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Statements contained in this press release that are not historical facts are
forward-looking statements that are made pursuant to the safe harbor provisions
of the Private Securities and Litigation Reform Act of 1995. In addition, words
such as "believes," "anticipates," "expects" and similar expressions are
intended to identify forward-looking statements. Forward-looking statements
involve risks and uncertainties, including the timely development and acceptance
of new products, the impact of competitive products and pricing, changing market
conditions, the successful integration of acquisitions, continued availability
and favorable pricing of raw materials, the ability of the company and its key
vendors to successfully respond to year 2000 issues and the other risks detailed
in the company's prospectus filed March 27, 1996, and from time to time in other
filings. Actual results may differ materially from those projected. These
forward-looking statements represent the company's judgment as of the date of
this release. The company disclaims, however, any intent or obligation to update
these forward-looking statements.
