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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
OCTOBER 6, 1998
Date of Report (Date of Earliest Event Reported)
NASHUA CORPORATION
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
1-5492-1 02-0170100
(Commission File Number) (I.R.S. Employer Identification No.)
44 FRANKLIN STREET
NASHUA, NEW HAMPSHIRE 03060
(Address of Principal Executive Offices)
(603)880-2323
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5 - OTHER EVENTS
On October 6, 1998, Nashua Corporation issued the following press release:
NASHUA REPORTS DAMAGE AWARD IN RICOH LITIGATION
COMPANY ANNOUNCES EXPECTED THIRD QUARTER RESULTS
Nashua, NH, October 6, 1998 -- Nashua Corporation (NYSE: NSH) today
announced that the United States District Court of New Hampshire
("Court") issued an order awarding damages in the previously reported
patent infringement lawsuit brought against Nashua by Ricoh
Corporation, Ricoh Electronics, Inc. and Ricoh Company, Ltd. ("Ricoh").
In March 1997, the Court enjoined Nashua from manufacturing, using or
selling its Ricoh compatible NT-50 and NT-6750 toner cartridges in the
United States and withheld its ruling on damages to a later date. The
Court's order awarded Ricoh damages in the amount of $7,549,000 related
to Nashua's sales of such products through December 3, 1995, additional
damages relating to Nashua's sales of such products through March 1997,
certain of Ricoh's costs relative to the suit, and interest on such
damages. Nashua appealed the March 1997 ruling and will appeal the
Court's order relating to damages.
Nashua indicated that its financial results for the third quarter ended
September 30, 1998 will reflect a one-time unusual pretax charge of
approximately $15 million in connection with its estimate of total
damages under the award, including interest. Excluding this unusual
charge, Nashua expects that its third quarter after-tax income from
continuing operations will be in the range of $0.5 million to $1.0
million. As a result, Nashua expects to report a third quarter
after-tax loss from continuing operations, including the unusual
charge, in the range of $8.0 to $8.5 million. Nashua also indicated
that it has adequate financial resources to pay the Court's award of
damages, should it be unsuccessful on appeal.
In addition to the charge for damages, Nashua announced that it would
take a third quarter pretax charge of approximately $3.0 million
against discontinued operations relating to its investment in Cerion
Technologies Inc. ("Cerion"). On September 15, 1998, Cerion announced
its decision to cease operations on or about November 15, 1998.
Nashua plans to announce its third quarter results on Thursday, October
22, 1998.
This press release contains forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995. When
used in this press release, the words "will reflect," "expects,"
"plans," and similar expressions are intended to identify such forward-
looking statements. Such forward-looking statements are subject to
risks and uncertainties which could cause actual results to differ
materially from those anticipated. Such risks and uncertainties
include, but are not limited to, Nashua's future capital needs,
fluctuations in customer demand, intensity of competition from other
vendors, timing and acceptance of new product introductions, delays or
difficulties in programs designed to increase sales and
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return Nashua to profitability, general economic and industry
conditions and other risks set forth in Nashua's filings with the SEC.
Nashua assumes no obligation to update the information contained in
this press release.
Nashua Corporation markets specialty imaging products and services to
industrial and commercial customers. Nashua's products include thermal
papers, pressure-sensitive labels and specialty papers, as well as
copier, ink jet and laser printer supplies.
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.
NASHUA CORPORATION
Date: October 15, 1998 By /s/ Peter C. Anastos
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Peter C. Anastos
Vice President, General Counsel
and Secretary
