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HSKA > SEC Filings for HSKA > Form 8-K/A on 16-Mar-2009All Recent SEC Filings

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Form 8-K/A for HESKA CORP


16-Mar-2009

Costs Associated with Exit or Disposal Activities


Item 2.05 Costs Associated with Exit or Disposal Activities.

On December 30, 2008, the Company disclosed in the Original Form 8-K that it had finalized a plan to reduce its staffing levels at its Loveland, Colorado facility and Des Moines, Iowa facility by a certain number of employees and by identified positions. The Company has determined that it will incur total restructuring charges of approximately $621 thousand in connection with the severance payments made to the employees whose employment had been terminated, the cost of the Company's portion of premium payments for group health and dental insurance made on behalf of such employees and other employee related costs. In addition, the Company has determined it will record restructuring charges of approximately $164 thousand related to inventory of discontinued products, including a monitoring product the manufacturer has informed the Company it no longer intends to support. The Company recognized all of these expenses, which total $785 thousand, in the fourth quarter of 2008.

Cautionary Statements

This Amendment No. 1 to Current Report on Form 8-K contains forward-looking statements within the meaning of, and intended to qualify for the safe harbor associated therewith under, the federal securities laws. You can identify these statements by the Company's use of the word "estimates" and similar expressions that do not relate to historical matters. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause the Company's actual results to differ materially from those in the forward-looking statements include the Company's and its service providers' ability to estimate fees, in addition to factors described under the heading "Item 1A. Risk Factors" in the Company's most recently filed Annual Report on Form 10-K and in subsequent Quarterly Reports on Form 10-Q or described in the Company's other public filings. The Company's results may also be affected by factors of which the Company is not currently aware. The Company may not update these forward-looking statements, even though the Company's situation may change in the future, unless the Company has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.


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