| Item 2.05 | Costs Associated with Exit or Disposal Activities. |
On October 28, 2009, Microsemi Corporation (the “Company”) announced consolidation plans that will result in the closure of its manufacturing facility in Scottsdale, Arizona by April 2011. In the fourth quarter of fiscal year 2009, the Company expects to record one-time charges for restructuring and other reserves of between $24 million and $26 million. Additional consolidation costs of $3 million may be incurred over the closure period. The Company expects that after the consolidation activities are completed, annual savings benefiting operating income will range from $20 million to $25 million.
| Item 7.01 | Regulation FD Disclosure. |
The full text of the Company’s press release announcing the consolidation plans is furnished as Exhibit 99.1 to this report and is incorporated herein by this reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press release of the Company dated October 28, 2009 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Microsemi Corporation | ||||
| (Registrant) | ||||
| By: | /s/ JOHN W. HOHENER | |||
| Date: October 28, 2009 |
John W. Hohener | |||
| Vice President, Chief Financial Officer, Treasurer and Secretary | ||||