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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): August 8, 1997
POLK AUDIO, INC.
(Exact Name of Registrant as Specified in Charter)
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<S> <C> <C>
MARYLAND 000-14729 52-0954180
(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)
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5601 METRO DRIVE, BALTIMORE, MARYLAND 21215
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (410) 358-3600
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
On August 8, 1997, Polk Audio, Inc. (the "Company") announced the
signing of a licensing agreement with KEP, a Korean supplier of speakers to
Samsung Corporation, for certain designs and technology developed by Polk, to
be incorporated into Samsung television sets. Polk Audio expects to realize
royalty income from this licensing agreement beginning in its December 1997
fiscal quarter.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) and (b) Financial Statements and Pro Forma Information. Not applicable.
(c) Exhibits. The following exhibits are filed with this report, and the
foregoing description is modified by reference to such exhibits:
(1) Polk Audio, Inc. Press Release dated August 8, 1997.
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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.
Polk Audio, Inc.
By: /s/ George M. Klopfer
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George M. Klopfer
Chief Executive Officer
Date: August 28, 1997
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[POLK AUDIO PRESS RELEASE LETTERHEAD]
PRESS RELEASE
Date: 8 August 1997
Contact: George Klopfer
(410) 358 3600
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Baltimore, MD - Polk Audio, Inc. (Amex: PKA) announced today that it has signed
a licensing agreement with KEP, a Korean supplier of speakers to Samsung
Corporation, for certain designs and technology developed by Polk, which will
be incorporated into television sets manufactured by Samsung.
These technologies include Polk's patented "Power Port" bass venting
technology, which has also recently been licensed to Hewlett Packard Company
for use in computer speakers. The initial KEP licensing agreement covers two
Samsung 29" television models. Production of these units is expected to
commence in October 1997. The parties are negotiating for possible additional
Samsung television models to be added to the program.
The products covered by the licensing agreement will be sold under the Samsung
brand name and Polk is not licensing its registered trademark "Polk Audio" for
use in connection with this transaction.
Commenting on this agreement, Matthew Polk, Chairman of Polk Audio, said: "We
are pleased to be able to announce another licensing agreement with a major
consumer electronics manufacturer, this time in the television industry. Our
Power Port technology is proving to have a broad applicability, not only in
high-performance audio for which it was originally developed, but in many other
situations where superior bass performance must be obtained without adding to
the cost or size of the product. We look forward to working with KEP and
Samsung to improve the audio performance of Samsung television sets and to
further develop this business opportunity for Polk Audio."
Polk Audio, Inc. is a manufacturer of high-quality loudspeaker systems
headquartered in Baltimore, Maryland.
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