UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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): October 28, 2009
Microsemi Corporation
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 000-08866 | 95-2110371 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
| 2381 Morse Avenue Irvine, California |
92614 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (949) 221-7100
(Former Name or Former Address, if Changed Since Last Report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 240.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 2.05 | Costs Associated with Exit or Disposal Activities. |
On October 28, 2009, Microsemi Corporation (the “Company”) announced consolidation plans that will result in the closure of its manufacturing facility in Scottsdale, Arizona by April 2011. In the fourth quarter of fiscal year 2009, the Company expects to record one-time charges for restructuring and other reserves of between $24 million and $26 million. Additional consolidation costs of $3 million may be incurred over the closure period. The Company expects that after the consolidation activities are completed, annual savings benefiting operating income will range from $20 million to $25 million.
| Item 7.01 | Regulation FD Disclosure. |
The full text of the Company’s press release announcing the consolidation plans is furnished as Exhibit 99.1 to this report and is incorporated herein by this reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press release of the Company dated October 28, 2009 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Microsemi Corporation | ||||
| (Registrant) | ||||
| By: | /s/ JOHN W. HOHENER | |||
| Date: October 28, 2009 |
John W. Hohener | |||
| Vice President, Chief Financial Officer, Treasurer and Secretary | ||||