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): July 19, 1999 DIRECT FOCUS, INC. - -------------------------------------------------------------------------------- (Exact name or registrant as specified in its charter) Washington 000-25867 94300267 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 2200 NE 65th Avenue, Vancouver, Washington 98661 - -------------------------------------------------------------------------------- (Address of principal executive offices and Zip Code) Registrant's telephone number, including area code: (360) 694-7722 ---------------------------- DIRECT FOCUS, INC. FORM 8-K ITEM 5. OTHER EVENTS. On July 19, 1999, Direct Focus, Inc. (the "Company"), issued a press release announcing that it had reached an agreement with Soloflex, Inc. ("Soloflex"), to settle pending litigation. Under terms of the settlement, the Company will make an $8 million cash payment to Soloflex, of which $4 million is being paid by the Company's insurers. As a result of the settlement, the Company will take a one-time, after-tax charge of approximately $2.6 million against second quarter earnings. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is incorporated by reference herein. ITEM 7. EXHIBITS. The following exhibit is filed herewith and this list constitutes the exhibit index. Exhibit No. Document Description ----------- -------------------- 99.1 Press Release, dated July 19, 1999. SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DIRECT FOCUS, INC. July 28, 1999 By: s/ Brian R. Cook - ---------------------- ---------------------------------------- (Date) Brian R. Cook, President and Chief Executive Officer