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): NOVEMBER 11, 1998
WTC INDUSTRIES, INC.
DELAWARE 0-19622 38-2308668
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification Number)
150 MARIE AVENUE EAST
WEST ST. PAUL, MINNESOTA 55118-4002
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (651) 450-4913
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Items 1, 2, 3, 5, 6 and 8 are not applicable and therefore omitted.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) Previous Independent Accountants
On November 11, 1998, WTC Industries, Inc. ("WTC") dismissed Deloitte &
Touche LLP as its independent accountant. The decision to change accountants was
recommended by the WTC Board of Directors.
In connection with the audits of the fiscal years ended December 31,
1997 and 1996, and in the subsequent interim period through the date of
dismissal, there were no disagreements with Deloitte & Touche LLP on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedures, which disagreements, if not resolved to the
satisfaction of Deloitte & Touche LLP, would have caused them to make reference
thereto in their report on the financial statements for such years.
Deloitte & Touche LLP's report on the consolidated financial statements
as of and for the years ended December 31, 1997 and 1996, did not contain any
adverse opinion or disclaimer of opinion, nor was it qualified as to
uncertainty, audit scope, or accounting principles.
WTC has requested that Deloitte & Touche LLP furnish it with a letter
addressed to the SEC stating whether or not it agrees with the above statements.
A copy of such letter, dated November 16, 1998, is filed as Exhibit 1 to this
Form 8-K.
(b) New Independent Accountants
On November 11, 1998, WTC engaged McGladrey & Pullen LLP as its new
independent accountants.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 1. Deloitte & Touche LLP Letter re Change In Certifying
Accountant.
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.
WTC INDUSTRIES, INC.
Date: November 18, 1998 By /s/ Gregory P. Jensen
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Gregory P. Jensen
Chief Financial Officer
Exhibit 1
November 16, 1998
Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
We have read and agree with the comments in Item 4(a) of Form 8-K of WTC
Industries, Inc. dated November 11, 1998.
Yours truly,
/s/ DELOITTE & TOUCHE LLP
