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): February 24, 2015
KEY TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
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| OREGON | 0-21820 | 93-0822509 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
150 Avery Street
Walla Walla, Washington 99362
(Address of principal executive offices) (Zip Code)
(509) 529-2161
(Registrant’s telephone number, including area code)
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 (see General Instruction A.2. below):
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| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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| SECTION 2 - FINANCIAL INFORMATION |
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| ITEM 2.05 | COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES |
| On February 24, 2015, Key Technology, Inc. (the “Company”) announced a planned reduction of approximately 4% of its global workforce. The Company’s net earnings for the second quarter of fiscal 2015 will be adversely affected by an estimated pre-tax charge of approximately $500,000. The Company expects the majority of the associated cash expenditures will be incurred by the end of the third quarter of fiscal 2015. |
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| SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS |
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| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
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| | (d) | Exhibits |
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| | The following exhibit is furnished with this Current Report on Form 8-K: |
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| | 99.1 | Press Release of Key Technology, Inc., dated February 24, 2015 |
SIGNATURES
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 hereunto duly authorized.
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| | KEY TECHNOLOGY, INC. |
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| | /s/ Jeffrey T. Siegal |
| | Jeffrey T. Siegal |
| | Vice President and Chief Financial Officer |
Dated: February 25, 2015
EXHIBIT INDEX
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| Exhibit No. | | Description |
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| 99.1 | | Press release of Key Technology, Inc., dated February 24, 2015 |
