U.S. 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): November 18, 2013

 

Inrad Optics, Inc.

(Exact name of registrant as specified in its charter)

 

 

New Jersey   000-11668   22-2003247
(State or other
jurisdiction of
incorporation) 		  (Commission
File Number) 		  (IRS Employer
Identification
Number)
         
181 Legrand Avenue, Northvale, New Jersey   07647
(Address of principal executive offices)   (Zip Code)

 

 

Registrant’s telephone number, including area code:  (201) 767-1910

 

(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:

 

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

Item 8.01 Other Events

 

On November 18, 2013, Inrad Optics, Inc. (the “Company”) announced its decision to consolidate its Sarasota, Florida metal optics operations in its Northvale, New Jersey facility. A copy of the press release regarding this announcement is attached hereto and incorporated herein by reference as Exhibit 99.1.

 

The Company expects to incur one-time cash charges of approximately $750,000 to $900,000, primarily related to employee termination and relocation, moving of equipment and preparation of the Northvale facility, as well as, other general costs associated with the consolidation. The company estimates overall annual reductions in operational costs in the range of $800,000 to $1,000,000 per year starting in the second quarter of 2014.

 

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These statements may be identified by their use of forward-looking terminology such as "believes", "expects", “should”, "will", "plan", “anticipate”, “probably”, “targeting” or similar words. Such forward-looking statements, such as our expectation for one-time cash charges, relocation expense, reduction in operational costs, and for revenues, new orders, and improved results involve risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties that could cause actual results to differ materially from such forward looking statements are, but are not limited to, uncertainties in market demand for the company's products or the products of its customers, future actions by competitors, inability to deliver product on time, inability to develop new business, inability to retain key employees or hire new employees, and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission including our Annual Report on Form 10-K for the year ended December 31, 2012. The forward looking statements made in this news release are made as of the date hereof and Inrad Optics, Inc. does not assume any obligation to update publicly any forward looking statement.

 

Item 9.01 Financial Statements and Exhibits

 

(d)Exhibits

 

Exhibit 99.1Press Release dated November 18, 2013 announcing the Company’s plan to consolidate its Sarasota FL metal optics operations in its Northvale NJ facility.

 

 

SIGNATURE

 

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.

 

Date:        November 18,  2013    
  By: /s/ William J. Foote  
       
    Chief Financial Officer, Secretary and Treasurer