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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 8, 1998
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SIGHT RESOURCE CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-21068 04-3181524
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(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of incorporation)
100 Jeffrey Avenue, Holliston, Massachusetts 01746
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 429-6916
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Item 5. Other Events
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On April 8, 1998, a wholly owned subsidiary of the Company completed its
acquisition of all of the issued and outstanding shares of capital stock of Eye
Glass Emporium, Inc., an Indiana corporation ("Eye Glass"), from the
stockholders of Eye Glass. Eye Glass is a privately held primary eye care chain
that operates nine eye care centers in northwest Indiana. The acquisition will
be accounted for by using the purchase method of accounting.
Item 7. Financial Statements and Exhibits
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(a) Financial statements of businesses acquired. Not applicable.
(b) Pro forma financial information. Not applicable.
(c) Exhibits.
Exhibit
No. Description
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99 Press Release, dated April 13, 1998.
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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.
Dated: April 24, 1998
SIGHT RESOURCE CORPORATION
By: /s/ William T. Sullivan
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William T. Sullivan
President
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EXHIBIT INDEX
Exhibit No. Description
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99 Press Release, dated April 13, 1998.
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Exhibit 99
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NEWS RELEASE
April 13, 1998
SIGHT RESOURCE ACQUIRES EYEGLASS EMPORIUM
INDIANA EYE CARE CHAIN IS COMPANY'S 5TH ACQUISITION
(Holliston, Massachusetts) - Sight Resource Corporation (NASDAQ: VISN), a
leading provider of primary eye care services and managed vision care programs,
today announced the acquisition of Eyeglass Emporium, a privately-held primary
eye care chain in Indiana. This is Sight Resource's fifth acquisition of an eye
care chain and increases its number of eye care centers to 95.
Terms of the transaction were not disclosed.
Established in 1981, Eyeglass Emporium operates nine eye care centers with total
annualized revenues of about $5 million. The Northwest Indiana chain serves a
population of roughly 800,000 people. For a brief period, Eyeglass Emporium's
headquarters will remain in Merrillville, Indiana, where a former co-owner will
serve as operating manager. Following this transition all operations for the
chain will be managed under Sight Resource's E.B. Brown unit in Cleveland.
William T. Sullivan, President and Chief Executive Officer of Sight Resource
Corporation, said, "I'm excited to have Eyeglass Emporium as the most recent
addition to our group of regional chains. This acquisition is consistent with
our ongoing strategy of buying regionally-dominant primary eye care chains that
are well-positioned to benefit from the growing role of managed care. Eyeglass
Emporium is a strong, profitable company with about a 15 percentage market share
in its area of operation, an impressive staff and excellent growth potential."
Sight Resource provides a complete range of primary eye care products and
services through its primary eye care centers, managed care programs, laser
vision correction centers and integrated networks of opticians, optometrists and
ophthalmologists. The Company's wholly-owned subsidiaries include Cambridge Eye
Doctors in Massachusetts and New Hampshire, E.B. Brown Opticians in Ohio and
Pennsylvania, Vision Plaza in Louisiana and Mississippi, and Vision World in
Rhode Island and now Eyeglass Emporium in Indiana.
CONTACT: Nils Bonde-Henriksen, Manager of Corporate Communications, 508-429-
6916.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: Statements contained in this news release which are not historical fact
are forward-looking statements based upon management's current expectations that
are subject to risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking statements.
These risks and additional factors affecting the Company's business are
described in the Company's Form 10-K for the fiscal year ended December 31, 1997
filed with the Securities and Exchange Commission.
