-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G48Em17O8VKJWewGrnuXM9UEPqoBRkGDr2Cwx5MdcB8ysL6hMu0RCJsE3efMuuzd O2vplHN9JcJQoczZcS8uYg== 0001193125-08-149861.txt : 20080711 0001193125-08-149861.hdr.sgml : 20080711 20080711155303 ACCESSION NUMBER: 0001193125-08-149861 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080710 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080711 DATE AS OF CHANGE: 20080711 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MANNATECH INC CENTRAL INDEX KEY: 0001056358 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 752508900 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24657 FILM NUMBER: 08949069 BUSINESS ADDRESS: STREET 1: 600 SOUTH ROYAL LANE STREET 2: SUITE 200 CITY: COPPELL STATE: TX ZIP: 75019 BUSINESS PHONE: 9724717400 MAIL ADDRESS: STREET 1: 600 SOUTH ROYAL LANE STREET 2: SUITE 200 CITY: COPPELL STATE: TX ZIP: 75019 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

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): July 10, 2008

 

 

MANNATECH, INCORPORATED

(Exact Name of Registrant as Specified in its Charter)

 

Texas   000-24657   75-2508900

(State or other Jurisdiction of

Incorporation or Organization)

  (Commission File Number)   (I.R.S. Employer Identification No.)

600 S. Royal Lane, Suite 200

Coppell, Texas 75019

(Address of Principal Executive Offices, including Zip Code)

Registrant’s Telephone Number, including Area Code: (972) 471-7400

_____________________________________________________

(Former name or former address, if change since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of Mannatech under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17CFR 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))

 

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

 

 

 


Item 8.01 Other Events.

On July 10, 2008, Mannatech, Incorporated issued a press release announcing it will immediately eliminate approximately 60 positions, or roughly 15 percent of its United States workforce. As part of the company’s strategic review, select Mannatech jobs will be eliminated in tandem with other discretionary expense reductions to reposition the company for improved profitability.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 8.01.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit Number

  

Exhibit

99.1*    Press release, dated July 10, 2008, entitled “Mannatech Announces Corporate Staff and Expense Reductions.”

 

*Filed herewith.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, Mannatech has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

    MANNATECH, INCORPORATED
  Dated: July 11, 2008     By:  

/s/ Stephen D. Fenstermacher

        Stephen D. Fenstermacher
       

Senior Vice President and

Chief Financial Officer


EXHIBIT INDEX

 

Exhibit Number

  

Exhibit

99.1*    Press release, dated June 13, 2008, entitled “Mannatech Announces Corporate Staff and Expense Reductions.”

 

*Filed herewith.

EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

LOGO

Mannatech Announces Corporate Staff and Expense Reductions

Operating expense reductions combined with elimination of select domestic jobs

repositions the company for improved profitability

Coppell, Texas, July 10, 2008—Mannatech, Inc. (NASDAQ – MTEX), a leading developer and provider of dietary supplements and skin care solutions, announced it will immediately eliminate approximately 60 positions or roughly 15 percent of its United States workforce. As part of the company’s strategic review, select Mannatech jobs will be eliminated in tandem with other discretionary expense reductions to reposition the company for improved profitability.

“Mannatech’s executive management team has made this difficult decision which will reposition the company for improved profitability and enhancement of shareholder value,” said Wayne Badovinus, president and CEO of Mannatech. “We have an opportunity to realize immediate efficiencies by streamlining projects and priorities that deliver the most value to our overall businesses and dedicated independent sales Associates around the world. We are committed to working with current and former employees as we move through this process. Our ultimate goal is to create a stronger, leaner organization that will restore domestic sales growth.”

Mannatech currently employs 449 in the corporate headquarters of Coppell, Texas, and 613 worldwide.

About Mannatech

Mannatech, Incorporated, is a global wellness solutions provider of innovative, high-quality, proprietary nutritional supplements, topical and skin care products, and weight management products sold through independent associates and members located in the United States and the international markets of Canada, Australia, the United Kingdom, Japan, New Zealand, the Republic of Korea, Taiwan, Denmark, Germany, and South Africa.

Please Note: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as “intend” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech’s inability to attract and retain associates and members, increases in competition, litigation, regulatory changes, and its planned growth into new international markets. Although Mannatech believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

Contact Information:

Gary Spinell

Vice President

Corporate Communications

972-471-6512

ir@mannatech.com

www.mannatech.com

www.exploremannatech.com

GRAPHIC 3 g34832image002.jpg GRAPHIC begin 644 g34832image002.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T- M#AT5%A$8(Q\E)"(?(B$F*S7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#K;S4+B]E9 MI96VDY"9X`^E5J**\EMMW904444@"BBB@`HJ:SMGO+N.W3@N>3Z#N:L:Q9Q6 M-[Y,.=NP'DYYJN5\O,(HT44YD=`I=&7<,KD8R*D8VBBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`!(.0<'U%=!I>MR):;)@92C8#$\ MXKGZLVI(C.#_`!5=.3B]!%:BBBH&%%%200^?,L>X*#RS'HH[FC<">PTVXU!R M(5`4?>=N@I^IZ8VF/&IE$@<$Y`QBM&QU8_;K>RLHE2V#;>1\S>IIFO!KW6(; M2/[P4#Z$\_RK?DAR76XBQX9L]L3WCCE_E3Z=_P#/M67KLGF:O-_LX7]*ZFWD MMXG%A$WS0Q@D>@KCK^3S;^X?UD;^=752C344`[3;0WM]'#CY&[/R;1KEA\TWW?]T5@:E+YVI7$F<@N0/H.*AQY:2\P*U% M%%8#"BBB@`HHHH`****`"BBB@`HHHH`****`"BBGQ1F:9(EZNP4?C0`RBK>I M:>VG3+$TJR%EW<#&*J4VFG9@%%%%(`JS;?ZL_6JU3P,0AQZTUN(@HHHI#"BB MB@#9\-0![V2X;[L*=?<__6S5C3F4S7NLS?;E3]0-E; MF".*>.+I:KAAV'&<5Q!)8DGJ>:V[>1D\.WMRY^>XD//KG`_QJEINE2:@65S$8?O$#/ M.:R=*2:7<#.HK:M_#ZDE[NX\F,L0@)`9AZ\]*-5T)+.V-S;R,R+]Y6]/6CV4 M[7L!BT5JQ:&\^F)=1NS2R'Y8\<=<=?UJ[;^'+4C9/=EILK#*-CK5^WT&&.)9=2N1!NZ(&`/YFI5.3=@,2M#1].34;EDD9 ME1%R=O4^U6-4T-;2V^TVTIDC&,AN<`]\UJZ18P6,$LB7*R;P-S<87`_^O6D* M3Y[2`Y>Y$:W4JQ#$8"YED<*$7!)S]#5N#P[!'&K7] MT$9NBJP&/Q/6I]E)NP&!16CJ^DG371D@J' M"2ER]0*E7]$B\W5H!V4EOR%:J^'+$?NGNW,OH&`_2F:+9"UUFY3S!((4QN'O M6L:4E)7`S]?E\S5I1V0!?TK.K?&C"YN)+J^G$"RN2J9`8C/O4.K:$ME;_:+> M1G0'YE;J/>E.G-WD!C4445B,*EB^Z?K4521MA3QWIH".BBBD`4Z*-II4B7[S ML%'XTVM3P];^?J:N1\L0+?CT%5&/-)(1T311P^6S<0VD>?QQC^6?SKC[NX:[ MNI)WZNV<>@["N@\2WGE6ZVJ'YI>6_P!T?_7_`)5S0!8A1U)Q6U>6O*@1TAMW M/ANWMD'SSE1^9S4?B"5+6R@T^+@8!/T'3]?Y5N)$D<48('[I<#VXQ7&:CA3ULD`SP]8W<-W]H>)HXB MA!W<$^G%7[$I'<:E=M]T28S_`+HYJ/1;^ZOFN+BX<>6@`50,`=S4+.8O"\LI M^]<,3_WTW^%:QM&*:\V!A7EU)>W#32G))X'91Z"MZ*1F\(N7.<(5&?K@5S== M-+%LT.QM.\SH"/JX4G M]1603=:C<9P\\AXX&*@NM;2T!M=,B1$7@R8SD M^W^)JJD;R%I(KD`.%P!G.,GBH8_\`1O"3'H9<_J]N&GE;)8\#T'I726]Q'IGAZ&5XO,#`94=\FJW_"16?\`T#__`$&H ME&/*HMV`2ZWS^&+3/S.755]^2!4M_-_8FEQ6EN<32#EAU]S1!JD>J7MK;I`8 MEC(@L+J[D M)/S9)/4X&?ZUSE=`?]&\)>AE_J?\*RHZ-OL!BW=S)>W#33')8\#L!Z"MY9&; MPB3(CHW)]!&'J%V;V]DG/0G"CT':C3HO.U&W3L9!G\.:K5J>'8O,U56QQ&A;^G M]:SC[TU<#7Y%_K^E(;O[1J'E*?DA&W\> M]4+([;Z`GM(O\ZTJRYJ@'2W*B3Q-:ANB1%A]>:Q]<66;6WC"LS$*$4=QC_\` M75[6[A['6;:Z49PF"/49.1^M%WXDB:/-K"PF(QO<#Y?\:TFXNZ;MJ!;6W&F> M'YD!!D"$N1_>/%4]<_T?1[.V''3/X#_Z]5%UE/[+%G)"[,3EGW=?FR:BU;4Q MJ4D;+&8UC!&"<]:4JD>6R[`48T,DBH.K$"NMN5#:M86X^[$K2?D,"N5M95@N MHIG4L$8,5'?%:HU]/[2:\:W8CRA&J[AQSDU%*48K4"KKDOFZO-Z+A?R%3^&H MM^I,_P#SSC)_/BLR>4SW$DQX+L6_.KNDZHFFB4F%I&DP`0<8Q4QDO:.!_*L+1[!KV[5F&((R"['H?059TC6UL8WBN$9D9BP*\D$] M:2YUTRW4)CBV6T3AO+'!<^]:.4))-L"WXA;S=0LK<]"1W$<9C**``3GD'-:C>([.2%6FM&>5>@(!`/L:;E&7,K[@ M/EB:]\+1B(99$!P/;K_6N9`+$!023T`ZUKV&O/:32^9%NAE7M;/,I_B90O\`*IER32=[`4=%#6VMQQRJ4;E2#V)%/\1V[Q:B9B/DE48/ MN.,5G2W4TUT;EG_>EMVX<8/:MV'Q);RPA+VW)8=<`,I_`THN+BX-V`Y\1NR, MZH2J\%L<"M[7_P!QIEG:CVS^`_\`KU6O=<6X58(;<1VX8,PP,M@Y_"J^K:F- M2EC=8S&J+C!.:5XQBTF!3B0RS)&.KL!^M;?B=P)+:`=%4G^G]*Q[29;>[BF= M2XC;=M'>IM3OO[0N_/"%!M"A2:L17PC8$Q;AL5&!/4#K^=0W$YN)`[#G:`?>I?+;0"*BBBI&%%%%` M%[1;<7&J1`_=3YV_#_Z^*;JMY]NOY)`[RB"M71;N&QCNYW8"0(`BGJQ_SBLJBB,N5W0"LQ=BS'+,I7[ZC=&9AM M4#"+Z"JEJE%Q=A#**?L'O1L'O4C&44_ M8/>C8/>@!E%/V#WHV#WH`913]@]Z-@]Z`&44_8/>C8/>@!E%/V#WHV#WH`91 M3]@]Z-@]Z`&44_8/>C8/>@!E%/V#WHV#WH`913]@]Z-@]Z`&44_8/>C8/>@! ME%/V#WHV#WH`913]@]Z-@]Z`&44_8/>C8/>@!E%310K)*J$D`GM77V6G6MK; 0*B1AL_,2_))K2G3
-----END PRIVACY-ENHANCED MESSAGE-----