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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) August 26, 1996
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MAGNETEK, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
Delaware 1-10233 95-3917584
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO)
26 Century Boulevard, P.O. Box 290159, Nashville, TN 37229-0159
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code (615) 316-5100
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Not applicable
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS
Upon completion of its analysis of deferred income tax accounts and
finalization of its year-ended audit, the Company elected to increase valuation
reserves against deferred income tax assets by $14,700,000, resulting in an
increase to the Provision for Income Taxes by the same amount for the fourth
quarter and year ended June 30, 1996. As a result, the Provision for Income
Taxes of $4,127,000 and $4,700,000 for the three months and year ended June 30,
1996, respectively, as originally reported in the earnings release of unaudited
results (July 31, 1996), was increased to $18,827,000 and $19,400,000 for the
three months and year ended June 30, 1996, respectively, in the Company's final
audited results. The Net Loss for the year ended June 30, 1996, originally
reported as $75,820,000 ($3.05 per share) and $79,464,000 ($3.20 per share) for
the three months and year ended June 30, 1996, respectively, was revised to
$90,520,000 ($3.64 per share) and $94,164,000 ($3.78 per share), respectively.
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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.
MAGNETEK, INC.
Dated: August 26, 1996 By: /s/ Samuel A. Miley
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Samuel A. Miley, Esq.
Vice President, General Counsel and Secretary
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