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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)
October 14, 1998
ASPEC TECHNOLOGY, INC.
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(Exact name of Registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
000-22565 77-0298386
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(Commission File No.) (IRS Employer Identification Number)
830 East Arques Avenue
Sunnyvale, California 94086
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(Address of principal executive offices)
(408) 774-2199
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
The following press release was issued by the Company on October 14,
1998:
DELOITTE & TOUCHE LLP NOTIFIES ASPEC TECHNOLOGY THAT ITS AUDIT REPORT
FOR FISCAL 1996 AND 1997 HAS BEEN WITHDRAWN
SUNNYVALE, CALIFORNIA - Aspec Technology, Inc. (NASDAQ:ASPC) today
announced that, as a result of the Company's decision to restate its financial
results, Deloitte & Touche LLP, the Company's former independent accountants,
have notified the Company that it had withdrawn its report dated March 12, 1998
with respect to the financial statements of the Company for the fiscal years
ended November 30, 1996 and 1997 and that such report should no longer be relied
upon.
As previously announced, after consultation with PriceWaterhouseCoopers
LLP, the Company's new independent accountants, the Company will be restating
its results for fiscal years 1996 and 1997 and fiscal quarters ended February
28, 1998 and May 31, 1998. Work on the restatement of the Company's financial
statements is underway. Until the restatement is completed, the Company will not
be in a position to release its results or file its Quarterly Report on Form
10-Q for its third fiscal quarter ended August 31, 1998.
The above statements regarding the expected restatement of Aspec's
financial results are forward-looking statements that are based on current
expectations, beliefs and intentions. These forward-looking statements involve
substantial risks and uncertainties and actual results and developments may
differ materially from those described in this release. For more information
about Aspec and risks arising when investing in Aspec, you are directed to
Aspec's most recent reports on Form 10-Q and recent registration statement on
Form S-1 as filed with the United States Securities and Exchange Commission.
Aspec Technology, Inc. is a leading independent provider of
Semiconductor Intellectual Property (SIP) libraries and design services for
complex IC (Integrated Circuit) design and development. Aspec customers can
significantly reduce the development time and costs associated with bringing
deep sub-micron IC designs to successful silicon fabrication. Aspec's verifiable
physical IP libraries provide customers with the essential building blocks for
developing complex ICs and system-on-chip (SOC) products. The Company offers
cell-based foundation IP, including I/Os, memories, macrocells, and core cells
and complex functions that are tuned to each manufacturer's process. Aspec's SIP
libraries and design services are used by the leading ASIC/IC/ASSP companies,
electronic systems design companies and foundries worldwide. Aspec is located at
830 East Arques Avenue, Sunnyvale, CA 94086. More information is available at
http://www.aspec.com.
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SIGNATURE
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.
Aspec Technology, Inc.
Dated: October 14, 1998 By: /s/ CONRAD J. DELL'OCA
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Conrad J. Dell'Oca
President and Chief Executive
Officer
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