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 VISION CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-13391 04-3296594
(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)
(781) 622-1000
(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
Vision 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, obsolescence, new-product development, intellectual
property rights and litigation, Thermo Vision Corporation'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 Vision Corporation ("Thermo Vision") issued
a press release announcing that it will record approximately $2.3 million in
pretax restructuring and other charges in the third quarter, ending October 3,
1998. These charges are related to approximately $50,000 in severance costs
resulting from a reduction of approximately 10 employees in Thermo Vision's
workforce, as well as $2.2 million in inventory write-downs. These charges will
reduce third quarter 1998 diluted earnings per share by approximately $.15.
Thermo Vision estimates that these actions will result in 1999 operating savings
of approximately $400,000.
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 VISION CORPORATION
By: /s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
