Item 2.02. Results of Operations and Financial Condition
On
The information in this item of this Current Report on Form 8-K, including Exhibit 99.1, is furnished pursuant to Item 2.02 and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section. Furthermore, the information in this item of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item 2.05. Costs Associated with Exit or Disposal Activities
On
The Restructuring Plan is expected to result in total charges of approximately
The Company anticipates implementing further cost reduction activities over the next twelve months that are not part of the Restructuring Plan, some of which may result in additional expenditures and charges in future quarters.
Caution Regarding Forward-Looking Statements
Statements made in this report on Form 8-K that are not of historical fact are
forward-looking statements and are subject to the safe harbor provisions created
by the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements relate to, but are not limited to the expected nature, cost, timing,
and scope of the Restructuring Plan and future cost reduction activities. Some
factors that may affect these forward-looking statements include: the risk that
the restructuring charges may be greater than anticipated; the risk that the
Company's restructuring efforts may adversely affect the Company's internal
programs and the Company's ability to recruit and retain skilled and motivated
personnel, and may be distracting to employees and management; the risk that the
Company's restructuring efforts may negatively impact the Company's business
operations and reputation with or ability to serve customers; the risk that the
Company's restructuring efforts may not generate their intended benefits to the
extent or as quickly as anticipated; business, political and/or regulatory
conditions in the consumer electronics industry, the semiconductor industry and
the overall economy may deteriorate or change; as well as the other risks and
uncertainties that are described in the documents filed or furnished by us with
the
Item 9.01. Financial Statements and Exhibits (d) Exhibits
99.1 Press Release datedJanuary 25, 2023 announcing financial results for the fiscal quarter endedDecember 25, 2022 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
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