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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) May 21, 2007
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FLEXSTEEL INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Minnesota 0-5151 42-0442319
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3400 Jackson Street, Dubuque, Iowa 52001
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 563-556-7730
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(Former name or former address, if changed since last report.)
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))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On May 21, 2007, Flexsteel Industries, Inc. issued a press release
announcing that Director K. Bruce Lauritsen died Sunday, May 20, 2007 after
a hard-fought battle with pancreatic cancer. See the Press Release attached
hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 - Press Release by Flexsteel Industries, Inc. on
May 21, 2007.
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.
FLEXSTEEL INDUSTRIES, INC.
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(Registrant)
Date: May 21, 2007 By: /s/ Timothy E. Hall
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Timothy E. Hall
Vice President-Finance, CFO, and Secretary
Principal Financial Officer
EXHIBIT 99.1
Bruce Lauritsen, Long-Time Flexsteel Leader, Dies at 64
DUBUQUE, Iowa--(BUSINESS WIRE)--May 21, 2007--Flexsteel
Industries, Inc. (NASDAQ:FLXS) announced today that K. Bruce
Lauritsen, Vice Chairman of the Board of Directors and Chairman of
Flexsteel's Executive Committee, died Sunday, May 20, 2007, at home in
Dubuque, Iowa after a hard-fought battle with pancreatic cancer.
Formerly President and Chief Executive Officer of Flexsteel,
1993-2006, Lauritsen was a dedicated leader whose optimism and
affability made him as well-liked as he was widely respected.
After graduating from Creighton University in 1965 with a Bachelor
of Arts degree in philosophy, Lauritsen served in the U.S. Army as an
Infantry Officer. He completed a tour of duty in Vietnam and was
awarded the Bronze Star.
Lauritsen's career with Flexsteel began in 1968 when he joined the
company as a Sales Trainee. Six years later, he was named National
Sales Manager, and fifteen years later, in 1989, he became President.
During the last ten years, Lauritsen's strong vision and leadership
helped propel the company to increased sales, expanded markets, and
enhanced brand recognition. He had many great accomplishments during
his tenure as CEO. He re-organized the reporting structure into three
business-seating units: Home Furnishings, Commercial and RV/Marine. He
also led the executive team and directors on the acquisition of DMI
Furniture, which in turn implemented an offshore Asian sourcing
program to blend with the company's U.S. manufacturing focus.
"Bruce, in his long tenure with Flexsteel, served in many
demanding and critical positions. Under his leadership as President
and CEO, the company's revenue increased from $200 million to more
than $400 million. In addition, his leadership guided the Company as
it evolved to meet the challenges of the constantly changing business
climate and helped Flexsteel maintain its leadership role in the home
furnishings industry. As a leader and a friend, Bruce will be sorely
missed," says Bruce Boylen, Chairman of the Board, Flexsteel
Industries, Inc.
Many organizations, both furniture industry and community-based,
benefited from Lauritsen's involvement over the years, including the
boards of directors of: The American Home Furnishings Alliance (AHFA);
First Community Trust, Dubuque; Hills and Dales, Dubuque; First
National Bank, Dubuque; Loras College Board of Regents, Dubuque; and
the Dubuque Area Chamber of Commerce.
Lauritsen was born in Omaha, Nebraska on August 23, 1942. He is
survived by his wife Jeanne; his three children, Jeanne's two
children, and 16 grandchildren; one brother, four sisters and their
families. He was preceded in death by his parents and many aunts and
uncles.
Deeply committed to his community and church as well as the
furniture industry, Lauritsen also worked with the United Way, the
Girl Scouts of America, and the Parish Pastoral Council at St. Joseph
the Worker Catholic Church, Dubuque.
For more than a century, Flexsteel Industries, Inc., has been
designing and crafting fine upholstered furniture. The publicly traded
company sells its well-known furniture across the globe and operates
seven U.S. manufacturing plants and two permanent showrooms. Further
information on Flexsteel Industries, Inc., can be accessed at
http://flexsteel.com.
CONTACT: Flexsteel Industries, Inc., Dubuque
Timothy E. Hall, Chief Financial Officer, 563-585-8392