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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 4, 1999
INTERSPEED, INC.
(Exact name of registrant as specified in charter)
DELAWARE 0-27401 04-3333365
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(State or other jurisdiction (Commission file number) (IRS employer
of incorporation) identification no.)
39 HIGH STREET, NORTH ANDOVER, MASSACHUSETTS 01845
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (978) 688-6164
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ITEM 5 - OTHER EVENTS
Interspeed, Inc. (the "Company") issued a press release on October 4, 1999
related to its fourth quarter revenue. A copy of the Company's press release is
attached hereto and incorporated herein in its entirety.
ITEM 7 - FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
Exhibit 99.1 - Press Release of Interspeed, Inc., dated October 4, 1999.
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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 thereunto duly authorized.
INTERSPEED, INC.
Date: October 7, 1999 By: /S/ STEPHEN A. IDE
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Name: Stephen A. Ide
Title: President
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EXHIBIT INDEX
Exhibit No. Description
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Exhibit 99.1 - Press Release of Interspeed, Inc., dated October 4, 1999.
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EXHIBIT 99.1
INTERSPEED ANNOUNCES FOURTH QUARTER REVENUE
NORTH ANDOVER, MASS. -- October 4, 1999 -- Interspeed, Inc. (NASDAQ: ISPD)
announced that its estimated revenue for the quarter ended September 30, 1999
was approximately $625,000. Booking of revenue on certain transactions which
the Company expected to complete in the quarter was delayed. In one of these
transactions, the Company was able to make a $400,000 shipment on October 2,
1999. In other transactions totaling approximately $330,000, the Company did
not recognize revenue on product shipments due to slower than expected
end-user developments and an unexpected change in lease financing
arrangements; of this amount, approximately $150,000 is expected to be
recorded on an operating-lease basis with revenues to be recognized over
periods of up to 48 months.
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, including statements regarding expectations as to the
amount and timing of future revenue of the Company. The Company's actual results
could differ materially form those set forth in the forward-looking statements.
Certain factors that might cause such a difference include possible changes in
customer plans with respect to product deployment, competitive factors, and
circumstances that may lead to termination of lease-financing arrangements, as
well as other factors and risks disclosed in the "Risk Factors" section of
Interspeed, Inc.'s Registration Statement filed with the Securities and Exchange
Commission on June 18, 1999, as amended.
ABOUT INTERSPEED
Interspeed designs, develops and markets advanced high-speed data communications
solutions based on digital subscriber line (DSL), technology. Its products
enable data communication service providers, such as competitive local exchange
carriers, Internet service providers, and owners of multi-tenant units to
utilize the existing copper wire infrastructure to deliver high-speed data
access to their customers. Interspeed offers the industry's only single platform
system that integrates the principal components required to offer DSL service,
including signal concentration, routing, switching and network management.
Unlike traditional DSL products, Interspeed's DSL Access Router can offer
customers a highly scalable and flexible solution at a lower total cost of
ownership.
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