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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THERMOSPECTRA CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 1-13876 04-3242970
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
81 Wyman Street
Waltham, Massachusetts 02454-9046
(Address of principal executive offices) (Zip Code)
(781) 622-1000
(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
ThermoSpectra Corporation's Annual Report on Form 10-K for the year ended
January 3, 1998. These include risks and uncertainties relating to: market
growth; the impact of technological change; significant international
operations; increased competition; ThermoSpectra's acquisition strategy;
dependence on the semiconductor industry; the protection, defense, and use of
intellectual property; and the potential impact of the year 2000 on processing
date-sensitive information.
Item 5. Other Events
On September 29, 1998, ThermoSpectra Corporation ("ThermoSpectra") issued
a press release announcing that it will record approximately $5.4 million in
pretax restructuring and other charges in the third quarter, ending October 3,
1998. ThermoSpectra will incur approximately $3.5 million in severance expenses
resulting from a reduction in its workforce of approximately 17 percent (220
employees). In addition, ThermoSpectra will record approximately $1.9 million of
charges, primarily consisting of inventory write-downs relating to discontinued
products. These charges will reduce third quarter 1998 diluted earnings per
share by approximately $.21. ThermoSpectra estimates that these actions will
result in 1999 operating savings of approximately $11 million.
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.
THERMOSPECTRA CORPORATION
By: /s/ Kenneth J. Apicerno
Kenneth J. Apicerno
Treasurer