Abstract: Leads of an electronic component are formed in a Z-shaped configuration so as to provide a constant distance from the bottom surface of the body to the foot of the formed lead by a device having a lower floating anvil and complementary upper die unit, each of which have clamping and forming surfaces defining a Z-shaped joint therein between. The clamping surfaces are moveable relative to the forming surfaces of the anvil and the degree of movement which is permitted is controlled by preset sensing means responsive to contact with the body of the electronic component so as to produce the desired vertical distance between foot portion of the lead and the bottom surface of the component.