SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of report (Date of earliest event reported) November 15, 1997
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Arizona Instrument Corporation
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-12575 86-0410138
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(Commission File Number) (I.R.S. Employer Identification No.)
4114 East Wood Street, Phoenix, Arizona 85040-1941
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(Address of Principal Executive Offices) (Zip Code)
(602) 470-1414
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(Registrant's Telephone Number, Including Area Code)
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Item 5. Other Events.
On November 17, 1997, Arizona Instrument Corporation announced that George G.
Hays, 42, had been appointed as the Company's President and Chief Executive
Officer, and as a member of the Company's Board of Directors. Mr. Hays replaced
John P. Hudnall, who previously held those positions.
On November 15, 1997, John P. Hudnall resigned from the Board of Directors. The
Board of Directors then terminated Mr. Hudnall's employment as President and
Chief Executive Officer of the Company pursuant to a three-year employment
agreement which became effective June 3, 1996.
Mr. Hays indicated that he looked forward to meeting the challenges of returning
the Company to profitability and increasing shareholder value.
Mr. Hays joined the Company in March 1997 as its Chief Financial Officer. Mr.
Hays has a broad range of experience in the management and financing of high
technology companies. He started his career as an investment banker to high
technology companies and has served as a Vice President to two publicly traded
technology companies. Most recently, Mr. Hays worked as a high technology
investment banker and turnaround manager. Mr. Hays received a Bachelor of
Science degree in Mechanical Engineering and a Master of Science degree in
Management from the Massachusetts Institute of Technology.
Arizona Instrument Corporation, an ISO 9001 registered company, designs,
manufactures, and markets precision instruments used in quality control,
industrial control and environmental monitoring applications.
The statements in this report regarding the profitability and shareholder value
of the Company are forward- looking statements, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially. Factors that could cause or
contribute to such differences include, but are not limited to, the acceptance
and effectiveness of new management. The forward-looking statements should be
considered in light of these risks and uncertainties.
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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.
ARIZONA INSTRUMENT CORPORATION
(Registrant)
November 26, 1997 By /s/ George G. Hays
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George G. Hays
President and Chief Executive Officer
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