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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ONIX SYSTEMS INC.
(Exact name of Registrant as specified in its charter)
Delaware 1-13975 76-0546330
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
22001 North Park Drive
Kingwood, Texas 77339-3804
(Address of principal executive offices) (Zip Code)
(281) 348-1111
(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 ONIX Systems Inc.'s
Registration Statement on Form S-1 (File No. 333-45333), filed with the
Securities and Exchange Commission. These include risks and uncertainties
relating to: market acceptance of new products, customer capital spending
policies, technological change and new products, government regulations and
approvals, dependence on the oil and gas industry, ONIX Systems Inc.'s
acquisition strategy, pending arbitration, international sales, competition, use
of gamma technology, and protection of proprietary rights.
Item 5. Other Events
On September 29, 1998, ONIX Systems Inc. ("ONIX") issued a press release
announcing that it will record approximately $2.0 million in pretax
restructuring and other charges for the third quarter, ending October 3, 1998.
ONIX will incur approximately $1.7 million in severance expenses resulting from
an 11 percent reduction of its workforce (83 employees). These charges will
reduce third quarter 1998 diluted earnings per share by approximately $.08. ONIX
estimates that these actions will result in 1999 operating savings of
approximately $3 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.
ONIX SYSTEMS INC.
By:/s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
