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<P style="MARGIN-TOP: 3px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" size=5><B>UNITED STATES </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" size=5><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" size=3><B>Washington, DC 20549 </B></FONT></P>
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     <TD align=center width="40%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=5>FORM 8-K</FONT></B></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 14pt; FONT-FAMILY: '''''''''''''''''''''''''''Arial'''''''''''''''''''''''''''" face=Arial>CURRENT REPORT</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><STRONG><FONT face=Arial>PURSUANT TO SECTION 13 OR 15(d) OF THE</FONT></STRONG></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><STRONG><FONT face=Arial>SECURITIES EXCHANGE ACT OF 1934</FONT></STRONG>&nbsp;</DIV><STRONG></STRONG></DIV>
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&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman, serif'"><FONT face=Arial size=2>Date of Report </FONT><FONT face=Arial><FONT size=1>(Date of earliest event reported)</FONT>:&nbsp;&nbsp;<FONT size=2>January 12, 2009</FONT></FONT></FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''Times New Roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial>PERFORMANCE TECHNOLGIES, INCORPORATED</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-FAMILY: 'Arial'" face=Arial size=1>(Exact name of registrant as specified in its charter)</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=1>of incorporation)</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial>02-27460</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=1>(Commission</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial>16-1158413</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial>205 Indigo Creek Drive</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial>&nbsp;Rochester, New York</FONT></DIV></TD>
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<DIV style="DISPLAY: block; TEXT-INDENT: 0pt">&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial>14626</FONT></DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=1>(Address of principal executive offices)</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''times new roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=1>(Zip Code)</FONT></DIV></TD></TR></TABLE>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman, serif'" face=Arial>(585) 256-0200&nbsp;&nbsp;&nbsp; </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''Times New Roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=1>(Registrant&#146;s telephone number, including area code)</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''Times New Roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=2>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):</FONT></DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-FAMILY: ''''''''''''''''''''''''''''''''''''''''''''''''''''''Times New Roman''''''''''''''''''''''''''''''''''''''''''''''''''''''" face=Arial size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></DIV></TD></TR></TABLE></DIV>
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<P align=justify><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>Item 2.05&nbsp; Costs Associated with Exit or Disposal Activities</FONT></B></P>
<P align=justify><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>As of January 12, 2009, Performance Technologies, Inc. (&#147;the Company&#148;)&nbsp;has implemented a strategic reduction of its existing workforce in response to the challenging global economic environment. As a result of this action, the Company has eliminated&nbsp;twenty positions, or approximately 8% of its global workforce. This action is expected to yield annual operating expense savings in excess of $1.0 million. In connection with this reduction, the Company expects to incur first quarter 2009 pre-tax restructuring charges of approximately $.5 million, primarily for employee-related costs. Substantially all of these charges will result in cash expenditures.</FONT></P>
<P align=justify><FONT face=Arial size=2>Despite the challenges which the global economy presents, the Company continues to maintain a strong financial position, with approximately $33.2 million of cash and investments&nbsp;and no debt as of December 31, 2008.</FONT></P>
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<P align=justify><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>SIGNATURES</FONT></B></P>
<P><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>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 thereunto duly authorized.</FONT></P>
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     <TD align=left width="56%" colSpan=3><B><FONT face=Arial-BoldMT,Arial,Helvetica,sans-serif size=2>PERFORMANCE TECHNOLOGIES, INCORPORATED</FONT></B></TD>
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     <TD align=left width="25%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>January 13, 2009</FONT></TD>
     <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="5%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>By: /s/</FONT>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="39%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>John M. Slusser</FONT>&nbsp; </TD>
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     <TD align=left width="39%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>John M. Slusser</FONT>&nbsp; </TD>
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     <TD align=left width="39%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>President and</FONT>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chief Executive Officer</FONT></TD>
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     <TD align=left width="25%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>January 13, 2009</FONT>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="5%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>By: /s/</FONT>&nbsp; </TD>
     <TD style="BORDER-BOTTOM: #000000 1pt solid" align=left width="39%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dorrance W. Lamb</FONT>&nbsp; </TD>
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     <TD align=left width="39%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Dorrance W. Lamb</FONT>&nbsp; </TD>
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     <TD align=left width="39%"><FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Senior Vice President and</FONT>&nbsp;<FONT face=ArialMT,Arial,Helvetica,sans-serif size=2>Chief Financial Officer</FONT>&nbsp; </TD>
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jan09rif.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
:
January 12, 2009
PERFORMANCE TECHNOLGIES, INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
02-27460
(Commission
File Number)
16-1158413
(IRS Employer
Identification No.)
205 Indigo Creek Drive
Rochester, New York
14626
(Address of principal executive offices)
(Zip Code)
(585) 256-0200
(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):
[  ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]
P
re-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.05  Costs Associated with Exit or Disposal Activities
As of January 12, 2009, Performance Technologies, Inc. ("the Company") has implemented a strategic reduction of its existing workforce in response to the challenging global economic environment. As a result of this action, the Company has eliminated twenty positions, or approximately 8% of its global workforce. This action is expected to yield annual operating expense savings in excess of $1.0 million. In connection with this reduction, the Company expects to incur first quarter 2009 pre-tax restructuring charges of approximately $.5 million, primarily for employee-related costs. Substantially all of these charges will result in cash expenditures.
Despite the challenges which the global economy presents, the Company continues to maintain a strong financial position, with approximately $33.2 million of cash and investments and no debt as of December 31, 2008.
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 thereunto duly authorized.
PERFORMANCE TECHNOLOGIES, INCORPORATED
January 13, 2009
By: /s/
John M. Slusser
John M. Slusser
President and
Chief Executive Officer
January 13, 2009
By: /s/
Dorrance W. Lamb
Dorrance W. Lamb
Senior Vice President and
Chief Financial Officer