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) January 19, 1996.
--------------------------
POWER SPECTRA, INC.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
California 0-16672 94-2687782
--------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
919 Hermosa Court, Sunnyvale, California 94086-4103
------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 737-7977
------------------
Not applicable.
------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 4. Change in Registrant's Certifying Accountant
On January 19, 1996, the Registrant dismissed the accounting firm of
Ernst & Young, which had previously been engaged as the Registrant's independent
accountant to audit the Registrant's financial statements. Ernst & Young's
reports on the Registrant's financial condition for the fiscal years ended
December 31, 1993 and December 31, 1994 did not contain any adverse opinion or
disclaimer of opinion, and such reports were not otherwise modified or qualified
as to uncertainty, audit scope or accounting principles, except that Ernst &
Young's report on the Registrant's financial condition for the fiscal year ended
December 31, 1994 contained a going concern qualification. Furthermore, to the
knowledge of current management, during the last two fiscal years and any
interim period, the Registrant had no disagreements with Ernst & Young on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of Ernst & Young, would have caused it to make reference to the
subject matter of the disagreements in connection with its report(s). The
decision to dismiss Ernst & Young was approved by the Registrant's Board of
Directors.
On January 19, 1996 the Registrant retained the accounting firm of
Grant Thornton L.L.P. as its principal accountant to audit the Registrant's
financial statements in the future.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
16.1 Letter of Ernst & Young dated January 22, 1996 regarding
the disclosure contained in Item 4 of this report on Form 8-K.
-1-
<PAGE>
SIGNATURE
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.
POWER SPECTRA, INC.
/s/ Edward J. Lamb
----------------------------------------
Edward J. Lamb, Chief Financial Officer
Date: January 19, 1996
-2-
<PAGE>
POWER SPECTRA, INC.
Current Report on Form 8-K
INDEX TO EXHIBITS
Exhibit No. Description
- ---------- -----------
16.1 Letter of Ernst & Young dated January 22, 1996
regarding the disclosure contained in Item 4 of this
report on Form 8-K
-3-
<PAGE>
EXHIBIT 16.1
Letter of Ernst & Young
January 22, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read Item 4 of Form 8-K dated January 19, 1996, of Power Spectra, Inc.
and are in agreement with the statements contained in the first paragraph on
page one therein. We have no basis to agree or disagree with other statements of
the registrant contained therein.
Very truly yours,
/s/ Ernst & Young LLP
