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 BIOANALYSIS CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-12179 85-0429899
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
504 Airport Road
Santa Fe, New Mexico 87504-2108
(Address of principal executive offices) (Zip Code)
(505) 471-3232
(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 "Risk Factors" included in Thermo BioAnalysis
Corporation's Registration Statement on Form S-1 (File No. 333-52445), filed
with the Securities and Exchange Commission. These include risks and
uncertainties relating to: Thermo BioAnalysis Corporation's acquisition
strategy, intense competition, rapid and significant technological change,
uncertainty of market acceptance of new products, dependence on capital spending
policies and government funding, potential fluctuations in quarterly
performance, international operations, dependence on patents and proprietary
rights, dependence on regulatory approvals, patient reimbursement, potential
product liability, and the potential impact of the year 2000 on processing
date-sensitive information.
Item 5. Other Events
On September 29, 1998, Thermo BioAnalysis Corporation ("Thermo
BioAnalysis") issued a press release announcing that it will record
approximately $4.1 million in pretax restructuring and other charges in the
third quarter, ending October 3, 1998. These charges are related to
approximately $1.1 million in severance costs resulting from a reduction in its
workforce by approximately seven percent (105 employees). In addition, Thermo
BioAnalysis will record approximately $3 million in inventory write-downs and
facility-closing costs. These charges will reduce third quarter 1998 diluted
earnings per share by approximately $.11. Thermo BioAnalysis estimates that
these actions will result in 1999 operating savings of approximately $1.6
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 BIOANALYSIS CORPORATION
By: /s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
