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):
January
8, 2018
USANA HEALTH
SCIENCES, INC.
(Exact
name of registrant as specified in its charter)
Utah
(State
or other jurisdiction of incorporation)
001-35024 |
87-0500306 |
|
(Commission File No.) |
(IRS Employer Identification |
|
|
Number) |
3838 West Parkway Boulevard |
(Address of principal executive offices, Zip Code) |
Registrant’s telephone number, including area code: (801) 954-7100 |
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:
⃞ 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))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
⃞ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). |
⃞ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
Item 7.01 Regulation FD Disclosure
On January 8, 2018, USANA Health Sciences, Inc. (the “Company” or “USANA”) issued a press release announcing that it expects to take a one-time non-cash charge to its income statement following U.S. tax reform enacted on December 22, 2017. A copy of the press release is furnished herewith as Exhibit to this Current Report on Form 8-K and is incorporated herein by reference. This document will be posted on the Company’s corporate website, www.usana.com
The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended. The furnishing of the information in this Current Report is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information this Current Report contains is material investor information that is not otherwise publicly available.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description |
|
99.1 |
Press release issued by USANA Health Sciences, Inc. dated January 8, 2018 (furnished herewith). |
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 hereunto duly authorized.
USANA HEALTH SCIENCES, INC. |
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By: /s/ G. Douglas Hekking |
G. Douglas Hekking, Chief Financial Officer |
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Date: |
January 8, 2018 |
Exhibit Index
Exhibit No. |
Description |
|
Press release issued by USANA Health Sciences, Inc. dated January 8, 2018 (furnished herewith). |
Exhibit 99.1
USANA Health Sciences Provides Estimated Impact of U.S. Tax Reform
SALT LAKE CITY--(BUSINESS WIRE)--January 8, 2018--USANA Health Sciences, Inc. (NYSE: USNA) today reported that it expects to take a one-time non-cash charge to its income statement following U.S. tax reform enacted on December 22, 2017. The preliminary estimate for this charge is expected to be approximately $33 million, which the Company will recognize in its fourth-quarter 2017 results in accordance with Generally Accepted Accounting Principles. The charge is largely due to foreign tax credits and other deferred tax assets that the Company does not expect to be able to realize under the new tax laws. An update of the estimated tax charge will be provided in the Company’s fourth quarter 2017 earnings release in February 2018.
“Under the Company’s current global operating structure, we expect the Company’s effective tax rate to increase in 2018 under the recently enacted U.S. tax reform,” said Doug Hekking, Chief Financial Officer. “We are not prepared to provide an effective tax rate forecast for 2018 at this time, because we are currently evaluating several operating and structural changes that may allow the Company to benefit from the new, lower U.S. tax rate prospectively. We will update investors regarding our expected 2018 income tax rate forecast when we provide our initial outlook in February.”
About USANA
USANA develops and manufactures high-quality nutritional supplements, healthy foods and personal care products that are sold directly to Associates and Preferred Customers throughout the United States, Canada, Australia, New Zealand, Hong Kong, China, Japan, Taiwan, South Korea, Singapore, Mexico, Malaysia, the Philippines, the Netherlands, the United Kingdom, Thailand, France, Belgium, Colombia and Indonesia. More information on USANA can be found at www.usana.com.
CONTACT:
USANA Health Sciences, Inc.
Investors contact:
Patrique
Richards, 801-954-7961
Investor Relations
investor.relations@us.usana.com
or
Media
contact:
Dan Macuga, 801-954-7280
Public Relations