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): March 12, 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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Item 5. OTHER EVENTS
(a) Pursuant to Form 8-K, General Instruction F, Registrant hereby
incorporates by reference the press release attached hereto as Exhibit
99.
(b) Exhibits
Item 601
Exhibit Exhibit Title
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Exhibit 99 Press Release
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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: March 15, 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 ANNOUNCES SLOW FIRST QUARTER 1999 SALES
SMITHFIELD, R.I., March 12, 1999--Bacou USA, Inc. (NYSE: BAU), a leading
manufacturer of personal protective equipment, today announced that it is
experiencing weaker than expected sales results in the first quarter ending
March 31, 1999. Although approximately three weeks remain for additional sales
to be recorded in the quarter, Bacou USA expects that the weakness in its first
quarter sales will cause its earnings per share for the first quarter to be
somewhat less than the $0.36 reported for the first quarter of 1998 prior to
non-recurring items, however, substantially above the actual reported results
for that period of $0.15 after non-recurring items. Bacou USA expects to
announce its earnings for the current quarter during the third week of April,
1999.
The company attributed the slower than expected rate of sales to the
following three factors: lower sales for the company's market-leading astrospec
3000 protective eyewear products because they are not included in this year's
first quarter promotion program; lower sales of hearing protection products due
to a change in the structure of promotional programs that emphasizes annual
rather than quarterly growth incentives; and generally less robust demand within
the marketplace due to high inventory levels at distributors.
"Although sales have been disappointing in January and February for
some product lines, we remain cautiously optimistic about 1999", said Walter
Stepan, Vice Chairman, President and CEO of Bacou USA. "Sales of our technical
safety products have been relatively strong, with growth over first quarter 1998
sales."
-more-
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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. The company's products,
marketed under Uvex(R), Howard Leight(R), Survivair(R), Pro-Tech(R), Biosystems,
Titmus(R), LaserVision and Lase-R Shield(TM) 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 but not limited to 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.
