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):
September 29, 1998
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THERMOLASE CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-13104 06-1360302
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
2055-C Luna Road
Carrollton, Texas 75006
(Address of principal executive offices) (Zip Code)
(972) 488-0710
(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
ThermoLase Corporation's Annual Report on Form 10-K for the year ended September
27, 1997, as amended. These include risks and uncertainties relating to: product
development, market acceptance, management of growth, ability to attract
qualified personnel, dependence on proprietary technology, compliance with
government regulations, limited operating history, competition, international
relationships, and the potential impact of the year 2000 on processing
date-sensitive information.
Item 5. Other Events
On September 29, 1998, ThermoLase Corporation ("ThermoLase") issued a press
release announcing that it will record aftertax restructuring and other charges
totaling approximately $15 million in the fourth quarter, ending October 3,
1998. ThermoLase will incur a charge of approximately $8.3 million as a result
of its decision to close three of its domestic Spa Thira locations along with
the spa in France. In addition, ThermoLase will incur a charge of $6.7 million
to write off certain tax assets, primarily loss carryforwards. These charges
will reduce fourth quarter 1998 diluted earnings per share by approximately
$.38. ThermoLase estimates that these actions will result in fiscal 1999
operating savings of approximately $2 million. ThermoLase will close its spas in
Miami and Palm Beach, Florida, and in La Jolla, California. The remaining 11
domestic spas will be converted into full-service, luxury day spas, under the
Greenhouse name.
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 29th day of September, 1998.
THERMOLASE CORPORATION
By:/s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer
