UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) December 8, 1999
Commission File Number: 0-10726
C-COR.net Corp.
(Exact name of Registrant as specified in its charter)
Pennsylvania 24-0811591
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
60 Decibel Road, State College, Pennsylvania 16801
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (814) 238-2461
Not applicable
(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On December 8, 1999, the Registrant issued a press release, which is attached to
this Current Report as Exhibit 99.1 and incorporated herein by reference,
announcing that its Board of Directors approved a 2-for-1 stock split of its
common stock. As a result of the stock split, the par value of the common stock
will be reduced from $0.10 to $0.05 per share and the number of authorized
shares of common stock will be increased proportionately from 50 million to 100
million at the effective time of the stock split.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99.1 Press Release, dated December 8, 1999, of C-COR.net Corp.
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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.
C-COR.net Corp.
(Registrant)
Date: December 16, 1999 By: /s/ David A. Woodle
-------------------------
Name: David A. Woodle
Title: President and Chief Executive Officer
C-COR.net Announces 2-for-1 Common Stock Split
C-COR.net announced today that its Board of Directors approved a 2-for-1 stock
split of its common shares. The split will be effective for all shares of record
as of the close of business on December 22, 1999. The additional shares are to
be distributed on January 6, 2000, by the company's transfer agent, American
Stock Transfer & Trust Company, on the basis of one additional share for each
share held. As of the date of the Board's announcement of the split, there were
approximately 15.8 million shares outstanding. Upon completion of the split, the
number of C-COR.net common shares outstanding will increase to approximately
31.6 million.
"We anticipate that the stock split will make the stock more broadly accessible
and encourage wider participation in ownership of the company," stated David A.
Woodle, President and CEO of C-COR.net.
C-COR.net provides products and support to customers as they plan, design, build
and maintain complex broadband communications networks. C-COR.net is a developer
and global supplier of high-quality RF and advanced AM fiber optic electronics
for two-way HFC networks. C-COR.net's newest fiber optic products, the Mux Node
and Mini Node, facilitate evolving new architectures to deliver analog video,
digital video, high-speed data and telephone applications.
C-COR.net also offers comprehensive customer service for the full HFC broadband
network life cycle, including network engineering and design, system activation,
integration of Internet applications over cable, network optimization and
management, and system maintenance. Its multi-million dollar, 24 hours per day/7
days per week Network Operations Center near Atlanta, Georgia, provides state-
of-the-art, real-time network monitoring with responsive cable modem Help Desk
service.
C-COR.net, founded over 45 years ago, designs and manufactures robust, high-
quality network distribution products for two-way hybrid fiber/coax (HFC)
networks. C-COR.net's headquarters is in State College, Pennsylvania, with
production and service facilities in State College and Tipton, Pennsylvania;
Tijuana, Mexico; Santa Clara, California; and Suwanee, Georgia. C-COR.net also
maintains offices in Almere, The Netherlands, and Hong Kong. C-COR.net's common
stock is listed in the Nasdaq National Market under the symbol CCBL. C-COR.net's
website is http://www.c-cor.net.
Some of the information presented in this announcement, including, but not
limited to the Company's expectations in connection with the Company's strategic
plan and projects involving its product lines, constitutes forward- looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. Although the Company believes that its expectations are based on
reasonable assumptions within the bounds of its knowledge of its business and
operations, there can be no assurance that actual results will not differ
materially from its expectations. Factors which could cause actual results to
differ from expectations include the ability to integrate Convergence.com's and
Silicon Valley Communications' businesses; the timing of orders received from
customers; the gain or loss of significant customers; changes in the mix of
products sold; changes in the cost and availability of parts and supplies;
fluctuations in warranty costs; new product development activities; the
Company's ability to implement its strategies of product, service, and global
market expansion; the Company's ability to successfully implement new products
and services and enhance existing products and services; economic conditions
affecting domestic and international markets; regulatory changes affecting the
telecommunications industry, in general, and the Company's operations, in
particular; competition and changes in domestic and international demand for the
Company's products; the Company's ability to assess the risks of the year 2000
issue, with respect to its operations, and resolve them in a timely manner; and
other factors which may impact operations and manufacturing. For additional
information concerning these and other important factors which may cause the
Company's actual results to differ materially from expectations and underlying
assumptions, please refer to the reports filed by the Company with the
Securities and Exchange Commission.
