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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 31, 1998
BREED Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-11474 22-2767118
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(State of incorporation) (Commission File Number) (IRS Employer
Identification No.)
5300 Old Tampa Highway
Lakeland, Florida 33811
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (941) 668-6000
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
BREED Technologies, Inc. (NYSE:BDT) (the "Company"), a global leader in
automotive occupant safety systems, on August 31, 1998 announced that the
Company is delaying the release of its earnings for the fourth quarter and year
end of fiscal year 1998.
In the second quarter of fiscal year 1998, the Company recorded repositioning
and other special charges aggregating $349.9 million. The SEC is disagreeing
with certain aspects of the second quarter charges.
The Company currently intends to release its earnings as soon as practicable,
following the resolution of these issues.
Headquartered in Lakeland, Florida, the Company is the world's third largest
supplier of complete automotive occupant restraint systems. The Company
supports its growing list of automotive customers with advanced engineering,
testing and manufacturing facilities located in 13 countries around the globe.
Information about the Company and its products is available on the Internet at
http://www.breedtech.com.
A complete copy of the press release is attached hereto as Exhibit 99.1.
ITEM 7. FINANCLAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Text of Press Release of BREED Technologies, Inc. dated August 31,
1998.
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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.
Date: August 31, 1998
BREED TECHNOLOGIES, INC.
By: /s/ Frank J. Gnisci
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Frank J. Gnisci
Executive Vice President and
Chief Financial Officer
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INDEX TO EXHIBITS
EXHIBIT NUMBER AND DESCRIPTION
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99.1 Text of Press Release for BREED Technologies, Inc. dated
August 31, 1998
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EXHIBIT 99.1
(BREED-TECHNOLOGIES) (BDT) BREED Announces Delay in Earnings Release
LAKELAND, FL. (August 31, 1998) - BREED Technologies, Inc. (NYSE:BDT), a
global leader in automotive occupant safety systems, is announcing today that
the company is delaying the release of its earninqs for the fourth quarter and
year end of fiscal year 1998.
In the second quarter of fiscal year 1998, the company recorded
repositioning and other special charges aggregating $349.9 million. The SEC is
disagreeing with certain aspects of the second quarter charges.
The company currently intends to release its earnings as soon as
practicable, following the resolution of these issues.
Headquartered in Lakeland, Fla, BREED is the world's third largest supplier
of complete automotive occupant restraint systems. The company supports its
growing list of automotive customers with advanced engineering, testing and
manufacturing facilities located in 13 countries around the globe. Information
about BREED and its products is available on the Internet at
http://www.breedtech.com.
Media Relations Investor Relations
Gina McLean Timothy G. Weir
941/668-6684 941/668-6464
