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 ) December 12, 1995
CINCINNATI MICROWAVE, INC.
(Exact name of registrant as specified in its charter)
Ohio 0-13136 31-0903863
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Microwave Plaza, Cincinnati,Ohio 45249-9502
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (513) 489-5400
(Former name, former address and former fiscal year, if changed since last
report)
Item 5. Other Events
Cincinnati, OH, December 12, 1995 -- Cincinnati Microwave, Inc. (Nasdaq:CNMW)
today said that it now expects to report a loss for both its fourth quarter
and full year ending December 31, 1995. Previously, the company had indicated
that it believed the fourth quarter would be profitable.
"We remain on track to achieve our goal of doubling full year sales of our
cordless telephones with SureLink(TM)," said Jacques A. Robinson, president and
chief executive officer. "Despite the continued strength of that product
area, however, ongoing cost overruns in all product areas, combined with
softening of the radar detector market, will result in a loss for the quarter."
In its year ended December 25, 1994, the company reported net sales of $64.7
million including cordless telephone sales of $14.1 million and radar/laser
detector sales of $46.6 million. The net loss for 1994 was $10.3 million,
or a loss of 94 cents per share.
Adds CFO to Management Team
The company indicated that it has named Craig V. Wolf to the newly created
position of Vice President and Chief Financial Officer, effective
immediately, as part of a strengthening of its management team. He
brings a strong background in cost and general management to the company.
Wolf, age 47, most recently served as general manager -- Armco Financial
Group and president -- Armco Financial Services Corporation, two units of
the $1.5 billion in sales Pittsburgh-based Armco, Inc. Prior to that he
was corporate director -- internal audit for Armco. Between 1977 and 1989,
Wolf served in a number of domestic and international financial capacities
for FMC Corporation, headquartered in Chicago, and between 1973 and 1977 as
senior auditor for Arthur Andersen & Company, Chicago.
FOR FURTHER INFORMATION:
At the Company: At the Financial Relations Board:
Elaine Bacon Murrey Morrow, Analyst Inquiries
513-489-5400 312-640-6725
Heather Wietzel Karl Plath, General Inquiries
513-247-4213 312-640-6738
[email protected]
For Immediate Release
Tuesday, December 12, 1995 (4:00 p.m. eastern time)
Cincinnati Microwave Revises Fourth Quarter Outlook;
Adds CFO to Management Team
Cincinnati, OH, December 12, 1995 -- Cincinnati Microwave, Inc. (Nasdaq:CNMW)
today said that it now expects to report a loss for both its fourth quarter
and full year ending December 31, 1995. Previously, the company had indicated
that it believed the fourth quarter would be profitable.
"We remain on track to achieve our goal of doubling full year sales of our
cordless telephones with SureLink(TM)," said Jacques A. Robinson, president
and chief executive officer. "Despite the continued strength of that product
area, however, ongoing cost overruns in all product areas, combined with
softening of the radar detector market, will result in a loss for the quarter."
In its year ended December 25, 1994, the company reported net sales of $64.7
million including cordless telephone sales of $14.1 million and radar/laser
detector sales of $46.6 million. The net loss for 1994 was $10.3 million,
or a loss of 94 cents per share.
Adds CFO to Management Team
The company indicated that it has named Craig V. Wolf to the newly created
position of Vice President and Chief Financial Officer, effective
immediately, as part of a strengthening of its management team. He
brings a strong background in cost and general management to the company.
Cincinnati Microwave, Inc., based in Cincinnati, Ohio, designs, manufactures
and markets ultrahigh frequency and microwave wireless communication products
for sale under its own brand and for many of the world's leading providers of
consumer and commercial electronics products. The company leverages its
wireless and digital signal processing expertise in its leading-edge product
line, which includes cordless telephones with SureLink(TM) technology,
radar/laser early warning devices and modems for use on the cellular digital
packet data networks. The company's common stock is traded on the Nasdaq
National Market System using the symbol CNMW.
