8-K 1 f8k8223.txt 1 --------------------------------------------------------------------------- --------------------------------------------------------------------------- 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): August 22, 2003 DAN RIVER INC. (Exact name of registrant as specified in its charter) Commission file number 1-13421 GEORGIA 58-1854637 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 2291 Memorial Drive 24541 Danville, Virginia (Zip Code) (Address of principal executive offices) Registrant's telephone number, including area code: (434) 799-7000 --------------------------------------------------------------------------- --------------------------------------------------------------------------- 2 Item 5. Other Events and Regulation FD Disclosure. ----------------------------------------- In order to reduce overhead costs, we have eliminated approximately 80 salaried positions throughout our operations. Affected associates have been notified. We anticipate this action to result in annualized overhead savings of approximately $4.3 million per year. The annualized savings will impact our cost of sales and our selling, general and administrative expenses on an approximately equal basis. We expect to incur a pre-tax charge in our third fiscal quarter, ending September 27, 2003, of approximately $820,000 relating to the severance costs associated with this personnel reduction. 3 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. DAN RIVER INC. (Registrant) Date: August 22, 2003 /s/ Barry F. Shea --------------------------------- Barry F. Shea Executive Vice President - Chief Financial Officer