Item 1.02 Termination of a Material Definitive Agreement.
Effective
Management believes this action is consistent with the Company's objective of improving gross margins and profitability following the completion of previously announced strategic actions to optimize the business by eliminating approximately 1,600 SKUs of low-margin, third-party distributed products.
The foregoing summary of the terms and conditions of the Agreement is qualified
in its entirety by reference to the Agreement, which will be filed as an exhibit
to the Company's Form 10-Q for the quarter ended
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the
meaning of the "Safe Harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are those that describe future
outcomes or expectations that are usually identified by words such as "will,"
"should," "could," "plan," "intend," "expect," "continue," "forecast,"
"objective," "believe," and "anticipate" and include, for example, any
statement made regarding the Company's future results. Actual results may differ
materially as a result of various risks and uncertainties, including
circumstances or developments that may make the Company unable to implement or
realize the anticipated benefits, or that may increase the costs, of its current
business initiatives, including the outsourcing of manufacturing and assembly
functions and any related reduction in workforce; and those other risks and
uncertainties expressed in the cautionary statements and risk factors in the
Company's annual report on Form 10-K, quarterly reports on Form 10-Q and other
filings with the
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