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):
May 24, 1999
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THERMO POWER CORPORATION
(Exact name of Registrant as specified in its charter)
Massachusetts 1-10573 04-2891371
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
45 First Avenue
Waltham, Massachusetts 02454-9046
(Address of principal executive offices) Zip Code)
(781) 622-1000
(Registrant's telephone number
including area code)
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This Form 8-K contains forward-looking statements that involve a number of
risks and uncertainties. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements are
set forth under the heading "Forward-looking Statements" in Exhibit 13 to the
Registrant's Annual Report on Form 10-K for the fiscal year ended October 3,
1998. These include risks and uncertainties relating to: the Registrant's
reliance on sales to governmental entities; customized contracts; competition;
transition of product focus and dependence on new products; international
operations; the Registrant's ability to manage change; significant fluctuations
in operating results; dependence of markets on governmental regulations and
incentives; the importance of energy prices; the protection, defense, and use of
intellectual property and ownership of technology rights; the development,
commercialization, potential product liability, and uncertain market acceptance
of certain products; and the potential impact of the year 2000 on processing
date-sensitive information.
Item 5. Other Events
On May 24, 1999, the Registrant issued a press release regarding certain
pretax charges that will be taken by the Registrant.
The press release stated that the Registrant will record pretax charges
totaling approximately $10 million primarily in its third fiscal quarter, which
ends July 3, 1999. These charges will be incurred principally as a result of the
Registrant's proposed sale of its ThermoLyte Corporation subsidiary and a
write-down of its investment in its Peek operations in Malaysia and Croatia due
to business conditions in those regions.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: not
applicable.
(b) Pro Forma Financial Information: not applicable.
(c) Exhibits: not applicable.
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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, thereunto duly authorized, on this 25th day of May, 1999.
THERMO POWER CORPORATION
By: /s/ Theo Melas-Kyriazi
Theo Melas-Kyriazi
Chief Financial Officer
