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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
December 28, 1999
Date of Report (Date of earliest event reported)
THE FIRST YEARS INC.
(Exact Name of Registrant as Specified in its Charter)
MASSACHUSETTS
(State or other jurisdiction of incorporation)
0-7024
(Commission File Number)
04-2149581
(I.R.S. Employer Identification Number)
ONE KIDDIE DRIVE, AVON, MASSACHUSETTS 02322
(Address of principal executive offices)
(508) 588-1220
(Telephone Number)
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Item 5. Other Events
The Company announced on December 28, 1999 the settlement of a patent
infringement suit brought against the Company in early 1999 as described in the
Company's press release dated December 28, 1999 which is filed as Exhibit 99,
to, and as part of, this Form 8-K.
Item 7. Financial Statements and Exhibits
Exhibit (99) Copy of Press Release dated December 28, 1999 of The First Years
Inc.
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 thereunto duly authorized.
THE FIRST YEARS INC.
Date: December 29, 1999 By: /s/ John R. Beals
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John R. Beals
Senior Vice President - Finance
and Treasurer
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EXHIBIT (99)
[LOGO]
the first years(R)
FOR IMMEDIATE RELEASE
Contact: John Beals
Senior Vice President, Finance and Treasurer
(508) 588-1220
THE FIRST YEARS INC. SETTLES PATENT LITIGATION
Avon, MA, December 28, 1999 - The First Years Inc. (NASDAQ: KIDD), a leading
marketer of products for infants and toddlers, today announced settlement of a
patent suit brought against the Company earlier this year. Ronald J. Sidman,
Chairman, President and Chief Executive Officer, said, "The settlement was
negotiated to remove any uncertainties of a trial and to avoid future legal
costs."
The settlement of $1,450,000 was reached with two inventors, who had claimed a
patent infringement regarding a valve on the Company's line of "spill-proof"
cups. Mr. Sidman said "The settlement allows The First Years to continue its
leadership role in the marketplace with the newest and most advanced
technology. He stressed that the settlement reflects "no wrong doing on the
Company's part." The charge for this settlement will be included in 1999 fourth
quarter results.
"The one-piece spill-proof cups will continue to play an important role in The
First Years worldwide product line," Mr. Sidman said. The First Years Inc. is a
leading marketer of products for infants and toddlers with three distinctive
brands: The First Years(R), "Winnie the Pooh," licensed from Disney
Enterprises, Inc. and "Sesame Street," licensed from Children's Television
Workshop. The Company's extensive product line includes more than 300 items
including the Feeding & Soothing, Play & Discover, and Care & Safety categories.
Certain statements in this release that are not strictly historical are
"forward-looking" statements as defined in the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are typically identified by the
words: believe, expects, anticipates, intends, are confident, estimates and
similar expressions which by their nature refer to future events. Actual future
results may differ materially than those anticipated depending on a variety of
factors which include but are not limited to continued sales of, and the
technology related to spill-proof cups and the additional risk factors
contained in Exhibit 99 to the Company's Annual Report on Form 10-K and
quarterly reports on Form 10-Q as filed with the Securities and Exchange
Commission. Readers are cautioned not to place undo reliance on these
forward-looking statements which speak only as of the date hereof. The Company
assumes no obligation to update the information contained in this press release.
