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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): August 21, 1997 APOGEE ENTERPRISES, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Not Applicable - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.)
Minnesota 0-6365 41-0919654 - --------------------------------- ---------------- ------------------- (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation or organization) Number) Identification No.) 7900 Xerxes Avenue South, Suite 1800 Minneapolis, Minnesota 55431 (612) 835-1874 - ------------------------------------ ---------- ---------------------------- (Address of principal executive (Zip Code) (Registrant's telephone offices) number, including area code) Item 5. Other Events. ------------ The Company announced on August 21, 1997 that it anticipated taking an after-tax restructuring charge in its third quarter of between $11,000,000 and $16,000,000 in connection primarily with the restructuring of its New Construction curtainwall unit's international operations. The unit is part of the Company's Building Products & Services segment. The Company is attaching, as Exhibit 99.1 hereto, and incorporating herein by reference, its press release dated August 21, 1997. Item 7. Financial Statements and Exhibits --------------------------------- Exhibits: 99.1 Press release, dated August 21, 1997 Signature --------- Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: August 21, 1997 APOGEE ENTERPRISES, INC. By /s/ Robert G. Barbieri -------------------------------- Robert G. Barbieri Controller -2- EXHIBITS INDEX Exhibit No. Page - ----------- ---- 99.1 Press Release, dated August 21, 1997................. -3-
APOGEE ENTERPRISES, INC. ANNOUNCES RESTRUCTURING OF NEW CONSTRUCTION BUSINESS MINNEAPOLIS, Minnesota, August 21, 1997--Apogee Enterprises, Inc. (Nasdaq: APOG) announced the restructuring of its New Construction business unit. BUILDING PRODUCTS & SERVICES-RESTRUCTURING Apogee announced that it anticipates taking an after-tax charge in its third quarter of between $11 million and $16 million to restructure its New Construction curtainwall unit which is a part of its Building Products & Services segment. The restructuring plan, which is expected to be developed next quarter, will primarily focus on downsizing New Construction's international operations. The charge will primarily cover expenses relating to existing Asian operations and rationalization of excess manufacturing capacity in Europe. "This planned restructuring is designed to return our curtainwall business to profitability by focusing a smaller New Construction unit on its profitable U.S. and United Kingdom market opportunities," said Donald W. Goldfus, Apogee's Chairman, Chief Executive Officer and President. CAUTIONARY STATEMENT The discussion above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A number of factors should be considered in conjunction with the above forward-looking statements, including changes in economic and market conditions, factors related to competitive pricing, commercial building market conditions, management of growth, the integration of acquisitions, the realization of expected economies gained through expansion and information systems technology, and other factors set forth in the cautionary statements included in Exhibit 99 to Apogee's Form 10-K filed with the Securities and Exchange Commission. Apogee wishes to caution investors and others to review the statements set forth in Exhibit 99 and that other factors may prove to be important in affecting Apogee's business or results of operations. Apogee Enterprises, Inc. is a leading fabricator, distributor and installer of value-added glass products and systems. The company is organized into three operating segments: Building Products & Services (BPS), Glass Technologies (GT) and Auto Glass (AG). Headquartered in Minneapolis, the Company's stock is traded on the Nasdaq Stock Market under the symbol APOG. For more information on Apogee Enterprises, Inc. via facsimile at no cost, simply dial 1-800-PRO-INFO and enter the company code ticker APOG.