Summary of X RITE INC - Yahoo! Finance

Results of Operations and Financial Condition, Costs Associated with Exit or Disposal

Item 2.05 Costs Associated with Exit or Disposal Activities

On November 4, 2008, the Company announced that it will close its manufacturing and engineering center in Brixen, Italy. Manufacturing lines, along with selected engineering responsibilities, will be shifted to Kentwood, Michigan. The Brixen facility currently employs 22 people and the Company expects the closure to be completed in approximately twelve months.

The Company expects to incur a restructuring charge of approximately $1.9 million in connection with this closure, all of which will require future cash expenditures. The restructuring charge consists of approximately $1.2 million in costs related to employee terminations, approximately $0.3 million in professional fees and approximately $0.4 million in other miscellaneous costs. Although the Company believes its estimates are appropriate and reasonable based on available information, actual results could differ from these estimates.

Forward-looking Statements and Disclaimer

This filing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, due to a variety of factors, some of which may be beyond the control of the Company. Factors that could cause such differences include the impact of the Company's defaults under its credit agreements, the Company's ability to sustain increased sales, improve operations and realize cost savings, competitive and general economic conditions, ability to access into new markets, acceptance of the Company's products and other risks described in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward looking statements whether as a result of new information, future events or for any other reason.