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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)
April 16, 1999
THE NORTH FACE, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware
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(State or other jurisdiction of incorporation)
0-28596 94-3204082
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(Commission File No.) (IRS Employer Identification Number)
407 Merrill Avenue
Carbondale, Colorado 81623
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(Address of Principal Executive Offices)
(970) 704-2300
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(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events
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On April 16, 1999, The North Face, Inc. issued a press release announcing
that it had not filed its annual report on Form 10-K for the year ended December
31, 1998 because the annual audit by the its external auditors was not complete.
The Company also announced that trading of its shares had been halted.
(a) Exhibits:
99.1 Press Release dated April 16, 1999
2
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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 hereunto duly authorized.
THE NORTH FACE, INC.
Dated: April 20, 1999 By: /s/ James G. Fifield
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James G. Fifield
President and Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit No. Description
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99.1 Press Release dated April 16, 1999.
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Exhibit 99.1
The North Face, Inc. Extends Estimated Filing Date for its
Annual Report on Form 10-K
CARBONDALE, COLORADO (April 16) - The North Face, Inc. (Nasdaq: TNFI)
announced today that it has not filed with the Securities and Exchange
Commission its annual report on Form 10-K for the year ended December 31, 1998
because the annual audit by the Company's external auditors, Deloitte & Touche,
LLP, is not complete. The Company and its auditors have made significant
progress and are working diligently to complete the audit in an expeditious
manner. The Company anticipates that it will file its 10-K on or before April
30, 1999.
The Company previously announced that it expected to restate its financial
statements for the fiscal years ended December 31, 1997 and December 31, 1998 to
reflect a reduction in revenue and net income. Until the audit is completed, the
Company cannot finally determine the amount of any restatement, although it is
likely that revenue and net income will be reduced to a greater extent than
previously announced.
The Company also announced today that trading in its shares has been
halted.
Quote for reference ticker symbols: TNFI
The North Face, Inc. designs and distributes technically sophisticated
outerwear, snowsports apparel, functional sportswear, tents, sleeping bags,
backpacks, daypacks, accessories and rugged footwear under The North Face(R)
name. Through its subsidiary, La Sportiva USA, and its affiliate, La Sportiva
S.r.L, the Company designs, manufactures and distributes rock climbing shoes,
mountaineering boots and other rugged footwear under the La Sportiva name. The
Company sells its products primarily to select specialty retailers throughout
the United States, Europe and Canada.
Statements included in this press release which are not historical in
nature, are intended to be, and are hereby identified as, "forward-looking
statements'' for purposes of the safe harbor provided by Section 21E of the
Securities Exchange Act of 1934, as amended by Public Law 104-67. Specifically,
the statements relating to the completion of the annual audit, the filing date
of the Company's Form 10-K and any adjustment to the Company's financial
statements are forward-looking statements. The Company cautions readers that
actual results or events may differ from those indicated in the forward-looking
statements. Factors that could cause actual results to vary materially include
the discovery of facts not currently known and the need for additional time
necessary to complete the audit.
