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Quotes & Info
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| PLAB > SEC Filings for PLAB > Form 8-K on 14-Feb-2013 | All Recent SEC Filings |
14-Feb-2013
Entry into a Material Definitive Agreement, Results of Operations and Financial Co
On February 12, 2013, the Company entered into a Capital Lease Agreement with
TD Equipment Finance (the "Capital Lease") to fund the purchase of a
lithography tool. The Capital Lease for approximately $30,000,000 has a five
(5) year term and contains customary terms and conditions. The interest rate
which will be determined upon acceptance of the lithography tool by the
Company will be a fixed rate based on a spread plus a five year fixed swap
rate.
On February 13, 2013, the Company issued a press release reporting first
quarter fiscal 2013 results. A copy of the press release is attached to this
8-K.
A copy of the press release is furnished as Exhibit 99.1 to this report. The
information contained in this Item 2.02 and the attached Exhibits 99.1, 99.2,
99.3, 99.4, 99.5 and 99.6 shall not be deemed "filed" for purposes of Section
18 of the Securities Exchange Act of 1934 and shall not be incorporated by
reference in any filing under the Securities Act of 1933 except as shall be
expressly set forth by specific reference in such filing.
On February 14, 2013, the Company will conduct a conference call during which
certain unaudited, non-GAAP EBITDA financial information related to the
Company's operations for the three months ended January 27, 2013 will be
disclosed. This information is set forth in Exhibit 99.6.
EBITDA is a non-GAAP financial measure that the Company defines pursuant to
its credit agreement. The Company believes that EBITDA is generally accepted
as providing useful information regarding the operational strength and
performance of its business, including the ability of the Company to pay
interest, service debt and fund capital expenditures. The Company's method for
calculating EBITDA may not be comparable to methods used by other companies
but is the same method the Company uses for calculating EBITDA under its
credit facility.
Effective as of February 14, 2013, Soo Hong Jeong will become the Chief Operating Officer and President of Asia formerly the Chief Operating Officer of the Company
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