SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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
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THERMO OPTEK CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-11757 04-3283973
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
8 East Forge Parkway
Franklin, Massachusetts 02038
(Address of principal executive offices) (Zip Code)
(508) 553-1700
(Registrant's telephone number
including area code)
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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 Thermo
Optek Corporation's Annual Report on Form 10-K for the year ended January 3,
1998. These include risks and uncertainties relating to: competition,
technological change, and new-product development; possible adverse effects from
consolidation in the environmental market and changes in environmental
regulations; the protection, use, and defense of intellectual property rights;
Thermo Optek'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, Thermo Optek Corporation ("Thermo Optek") announced
that it will record approximately $8.5 million in pretax restructuring and other
charges in its third quarter, ending October 3, 1998. These charges are
primarily related to $5.8 million in severance costs resulting from a reduction
in Thermo Optek's workforce by approximately seven percent (between 160-180
employees). In addition, Thermo Optek will record approximately $2.7 million of
charges, primarily consisting of inventory write-downs relating to discontinued
products. These charges will reduce third quarter 1998 fully diluted earnings
per share by approximately $.12. Thermo Optek estimates that these actions will
result in 1999 operating savings of approximately $6 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.
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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.
THERMO OPTEK CORPORATION
By: /s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
