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): February 2, 2000
SMITH CORONA CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-10281 51-0286862
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
842 Bennie Road, Cortland, New York 13045
(Address of principal executive offices) (zip code)
(607) 753-6011
(Registrant's telephone number, including area code)
Item 5 Other Events
DESCRIPTION OF TRANSACTION
On January 17, 2000, Smith Corona Corporation announced
that its performance for the second quarter ending December
31, 1999 would not follow positive trends of the previous two
quarters. The company anticipated a loss for the quarter and
indicated that this shortfall may impair its ability to
finance operations.
A copy of the January 17, 2000 press release announcing the
above event is attached hereto as exhibit 99.1, and is
incorporated herein by reference.
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 thereunto duly authorized.
SMITH CORONA CORPORATION
Date: February 2, 2000
/s/ Martin D. Wilson
Martin D. Wilson
Senior Vice President and
Chief Financial Officer
(Principal Financial/Accounting
Officer)
INDEX TO EXHIBIT
Exhibit No. Description
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99.1 News Release
Exhibit No. 99.1
Contact:Rivian Bell
JDI Communications, Inc.
(310) 827-2327
(888) 477-4319 (24-hours)
jdicomm ix.netcom.com
FOR IMMEDIATE RELEASE
SMITH CORONA PROVIDES FINANCIAL UPDATE
CORTLAND, N.Y. Jan. 17, 2000 Smith Corona Corporation
(NASDAQ:SCCO) today reported that its performance for the second
quarter ended Dec. 31, 1999 will not follow positive trends of
the previous two quarters. The company anticipates that the loss
for the quarter will total between $2 million and $3.5 million,
subject to completion of its quarterly closing process, on sales
of approximately $7.7 million. This compares with a loss of
$(6.3) million on sales of $13.3 million for the same period last
year. Sales for the quarter were below management's expectations
in both typewriters and related supplies, and delivery delays
adversely affected sales of new products.
Smith Corona indicated that these shortfalls may impair its
ability to finance operations. The company is addressing all of
its strategic options.
Smith Corona Corporation is dedicated to providing
information solutions through new and emerging technology
products in addition to marketing and developing its traditional
electronic typewriters and related accessories and supplies.
Smith Corona can also be reached electronically at
http://www.smithcorona.com.
Certain matters discussed in this news release constitute
forward looking statements which are estimates by the company's
management of future performance and are subject to a variety of
risks and uncertainties that could cause results to differ from
management's current expectations.
