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UNITED STATES
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): April 20, 1995
Mycogen Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-15881 95-3802654
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
5501 Oberlin Drive, San Diego, California 92121
(Address of principal executive offices)
Registrant's telephone number, including area code: 619-453-8030
Not Applicable
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(Former name or former address, if changed since last report.)
ITEM 8. CHANGE IN FISCAL YEAR.
On April 20, 1995, the Board of Directors of Mycogen Corporation voted to
change the fiscal year end from December 31 to August 31. A Form 10-Q will be
filed for the quarter ending June 30, 1995 and a Form 10-K will be filed for the
eight-month transition period ending August 31, 1995.
Exhibit. Press release dated May 2, 1995.
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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.
Mycogen Corporation
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(Registrant)
Date: May 2, 1995 /s/ James A. Baumker
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Controller, Chief Accounting Officer
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FOR IMMEDIATE RELEASE Contact: Michael Sund, Director
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May 2, 1995 Corporate Communications
(619) 453-8030
MYCOGEN TO CHANGE FISCAL YEAR
SAN DIEGO, Calif. -- Mycogen Corporation (Nasdaq: MYCO) announced today
that its board of directors has approved a change from its current calendar year
end to a fiscal year ending August 31, effective August 31, 1995.
Jerry Caulder, Mycogen's chairman, president and chief executive officer,
said the change is being made to better match financial reporting with the
company's business cycle. Since its December 1992 acquisition of the Mycogen
Plant Sciences seed business, more than 70 percent of Mycogen's 1993 and 1994
operating revenues have come from the sale of planting seeds, and Caulder said
the company expects the seed business to be the primary source of its future
revenue growth.
"Seed inventories reach their lowest point of the year in August, and
production, marketing and promotional expenses are concentrated in the fall,"
Caulder explained. "This will put Mycogen on the same reporting cycle as other
publicly traded seed companies and give a much more timely and accurate picture
of the company's finances."
Carl Eibl, Mycogen's executive vice president - finance and legal affairs,
said Mycogen will remain on its present reporting cycle for the quarter ending
June 30, and then report an audited eight-month year ending August 31, 1995.
Mycogen is a diversified agricultural biotechnology company that develops
and markets environmentally compatible biopesticides and planting seeds for
improved crop varieties to control pests and increase food and fiber production.
