<PAGE>
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)
July 12, 1994
July 7, 1994
AST RESEARCH, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-13941 95-3525565
(Commission File Number) (IRS Employer Identification No.)
16215 Alton Parkway
Irvine, California 92718
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
(714) 727-4141
NOT APPLICABLE
(Former name or former address, if changed since last report.)
Exhibit Index on Page 2 Page 1 of 6
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Item 5. Other Events
On July 12, 1994, the Company announced that James T. Schraith was named
President and Chief Operating Officer of the Registrant and Bruce C. Edwards
as Executive Vice President effective on July 7, 1994. Effective July 11,
1994, both James T. Schraith and Bruce C. Edwards were also appointed to the
Registrant's Board of Directors. A copy of the press release is attached as
Exhibit 99 to this Report, and is incorporated herein by this reference.
Item 7. Financial Statements and Exhibits
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Sequentially
Exhibit Numbered
Number Description Page
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99 Press release issued by the Registrant on July 12, 1994, announcing 3-6
James T. Schraith as President and Chief Operating Officer and
Bruce C. Edwards as Executive Vice President of the Registrant
and election of both James T. Schraith and Bruce C. Edwards to
the Board of Directors of the Registrant.
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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 hereunto duly authorized.
AST Research, Inc.
________________________
(Registrant)
By /s/ Bruce C. Edwards
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Bruce C. Edwards
Executive Vice President
and Chief Financial Officer
Date: July 12, 1994
Page 2 of 6
Media Contacts: Deborah Paquin
(714) 727-7960
Donna Kather
(714) 727-7943
Analyst Contact: Misty Ohmart
(714) 727-7728
AST BOLSTERS ITS MANAGEMENT TEAM, NAMES JAMES T. SCHRAITH AS PRESIDENT AND COO
AND BRUCE C. EDWARDS, EXECUTIVE VP
IRVINE, Calif., July 12, 1994--AST Research, the world's No. 5 PC manufacturer,
today bolstered its senior management team by promoting James T. Schraith to
president and chief operating officer and Bruce C. Edwards to executive vice
president. Both AST veterans, Schraith and Edwards were also appointed to the
board of directors which now comprises seven members. During Schraith and
Edwards' tenure at AST the company has grown into a Fortune 500 company with
annual revenue growth of more than 70 percent for the first three quarters of
fiscal year 1994. Safi Qureshey remains Chairman of the Board and Chief
Executive Officer.
"AST has grown in sophistication as it has reached multibillion-dollar,
world-class status in this rapid-fire, quick-moving industry," said Safi
Qureshey, AST Chairman and CEO. "To take advantage of the opportunities for
growth in the world's most dynamic industry, the day-to-day business operations
will be led by an AST veteran, Jim Schraith, who has been instrumental to AST's
growth and success over the years.
"Jim has a history of managing for results. His organizational management
and team building skills, combined with his expertise and track record in sales
and service gives him a unique, perspective to guide AST. He understands the
industry and has an intimate knowledge and belief in AST's philosophy to
deliver the ultimate in customer satisfaction. Jim and Bruce have played vital
roles in the company's tremendous growth and will give me the management team
to seize the opportunities before us."
As president and chief operating officer, Schraith will be responsible for
worldwide
-more-
operations, sales, marketing and engineering.
"AST's growth has dramatically outpaced the industry's," said James T.
Schraith, AST's new president and chief operating officer. "Process
efficiency, with a focus on quality, will be the drive in our operations so we
can continue to give our global customers the best product and ownership
experience offered in the world."
Schraith, 36 and a 15-year industry veteran, joined AST in 1987 when
revenues totaled $172 million. He most recently served as senior vice
president, sales and service, leading the company's worldwide sales and service
operations. Under his direction in worldwide sales, AST has expanded its
distribution channels and continued to increase unit shipments, achieving a 69
percent volume increase for fiscal year 1993.
His commitment to AST channel partners has resulted in strong
relationships with worldwide distributors, such as: Merisel, Ingram Micro and
Tech Data. He has successfully negotiated relationships with strategic
distribution partners worldwide, making AST computers easier to obtain, by
adding partners such as: CompUSA, Intelligent Electronics, Inacom and MicroAge.
Schraith was also instrumental in building the company's European presence
which resulted in significant growth in excess of the market in that region.
Under his direction AST has forged paths in growing and emerging markets such
as Africa, Japan and Newly Independent States, with continuing progress in
established regions such as Canada.
Schraith distinguished AST from its competition with a unique vision in
service and support that revolutionized customer service early on in the
computer marketplace and set new industry standards.
Edwards, 40, has provided the company with the financial resources
necessary to expand its operations as a tier-one industry player. Since he
joined AST in 1983, Edwards has been an integral part of AST's executive
management team, helping to set up AST's network of international subsidiaries,
negotiating the company's 1993 acquisition of Tandy Corp.'s PC manufacturing
operations and managing the company's five public offerings.
"Timed with the start of our new fiscal year, I look forward to working
with Safi and Jim in helping AST capitalize on its position as a leader in the
worldwide personal computer marketplace," said Bruce Edwards, AST executive
vice president and chief financial officer.
Schraith, Edwards and Wai Szeto, vice president of corporate development,
will report directly to Qureshey. Schraith and Edwards join current AST board
members: Qureshey, Carmelo J. Santoro, Richard J. Goeglein, Delbert W. Yocam,
and Jack Peltason.
"AST has a vision--that the PC, as an information tool, can have a
profound effect on people's quality of life in an ever-changing world," said
Qureshey. "Our company mission and goal is to be the easiest company to do
business with in every way. Our new management team will help the company
build on its success and make this vision and mission a reality."
CORPORATE BACKGROUND
AST Research Inc. is the world's fifth-largest personal computer
manufacturer. The company develops PC products ranging from handheld portable
systems to superservers under the Advantage!, Ascentia, Bravo, GRIDPAD,
Premmia, Manhattan SMP and Victor brand names. Revenues for the first nine
months of fiscal year 1994 totaled more than $1.78 billion, a 78 percent
increase over the prior year period. The company reported record sales of $1.4
billion and record volume shipment increases of 69 percent for fiscal year
ended July 3, 1993.
Ranked number 287 on the Fortune 500 list of America's largest industrial
companies, AST is represented in 100 countries and operates 43 subsidiaries and
sales offices worldwide. Corporate headquarters is located at 16215 Alton
Parkway, P.O. Box 57005, Irvine, Calif. 92619-7005. Telephone: (714) 727-
4141 or (800) 876-4278. FAX: (714) 727-9355.
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