<PAGE>
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): OCTOBER 1, 1998
BOLT TECHNOLOGY CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
COMMISSION FILE NUMBER
0-10723
CONNECTICUT 06-0773922
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
FOUR DUKE PLACE
NORWALK, CONNECTICUT 06854
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(ZIP CODE)
(203) 853-0700
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
NOT APPLICABLE
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
(1)
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ITEM 5. OTHER EVENTS.
On October 1, 1998, the Board of Directors of Bolt Technology Corporation
(the "Company") authorized a stock repurchase program under which the Company
may repurchase up to 500,000 shares of its common stock. A copy of the press
release issued October 5, 1998, relating to such stock repurchase program is
attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
Exhibit No. Description
- ------------ -----------
99.1 Press Release of Bolt Technology Corporation, dated October 5,
1998.
SIGNATURES
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.
BOLT TECHNOLOGY CORPORATION
Registrant
Date: October 5, 1998 By: /s/ Raymond M. Soto
----------------------
Name: Raymond M. Soto
Title: Chairman, President and
Chief Executive Officer
(2)
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EXHIBIT INDEX
Exhibit No. Exhibit
99.1 Press Release of Bolt Technology Corporation,
dated October 5, 1998.
For Immediate Release
Contact: Alan Levy (203) 853-0700
BOLT ANNOUNCES STOCK REPURCHASE PROGRAM
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NORWALK, CT., October 5, 1998 - Bolt Technology Corporation (AMEX: BTJ) today
announced that its board of directors has approved a stock repurchase program
under which the company is authorized to buy up to 500,000 shares of its common
stock in open market or private transactions.
Raymond M. Soto, Chairman, President and CEO said "We have implemented this
program because Bolt's board and management believe the recent price of its
shares reflect value below the company's current financial performance."
The Company expects to report the results of operation for the first quarter of
fiscal 1999 on October 12, 1998.
Bolt Technology Corporation develops, manufactures and sells the world's leading
Seismic Energy Sources used in the offshore seismic exploration for oil and gas
and through its subsidiary, Custom Products Corporation, designs, manufactures
and sells precision mechanical and pneumatic slip clutches.
(3)
