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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): December 22, 1999
NETWORK EQUIPMENT TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-15323 94-2904044
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
6500 Paseo Padre Parkway, Fremont, California 94555
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(Address of Principal Executive Offices)
(510) 574-2792
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(Registrant's Telephone Number, Including Area Code)
[Not Applicable]
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(Former Name or Former Address, if Changed Since Last Report.)
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Item 5. Other Events
On December 22, 1999, N.E.T. announced that revenue for its fiscal third
quarter ending December 26, 1999 is expected to fall short of expectations, down
15% to 20% sequentially from the second quarter. The Company cited two
significant factors impacting the shortcoming: 1) year 2000 concerns and
subsequent network lockdowns of its many multinational customers; and 2) delayed
finalization of the U.S. federal budget.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits
99.1 Network Equipment Technologies, Inc. Press Release dated
December 22, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
DATED: December 28, 1999 NETWORK EQUIPMENT TECHNOLOGIES, INC.
By: /s/ Hubert Whyte
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Name: Hubert Whyte
Title: Chief Executive Officer
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EXHIBIT INDEX
Page No. in Sequentially
Exhibit No. Description Numbered Current Report
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99.1 Network Equipment Technologies, Inc. 5
Press Release dated December 22, 1999.
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FOR IMMEDIATE RELEASE: Media Contacts:
John Batty, C.F.O.
(510) 574-2450
Brenda Ropoulos
(510) 574-2508
N.E.T. Expects Revenue Shortfall
Fremont, CA., December 22, 1999 -- N.E.T. (NYSE: NWK) announced today that
revenue for its fiscal third quarter ending December 26, 1999 is expected to
fall short of expectations, down 15-20% sequentially from the second quarter.
The company cites two significant factors impacting the shortcoming: year
2000 concerns and the subsequent network lockdown of its many multinational
customers, as well as the delayed finalization of the U.S. federal budget. The
federal government represents a substantial portion of the company's business.
About N.E.T.
Network Equipment Technologies, Inc. (N.E.T.), headquartered in Fremont,
CA, is a leading worldwide supplier of multiservice wide area networks used by
service providers, government organizations and enterprises in more than 75
countries. N.E.T. multiservice WANs and ATM products integrate voice, data, and
video traffic with ATM, frame relay, IP and ISDN capabilities. The company is
certified to the worldwide ISO 9001 standard for design, manufacturing and
service. Join us at the first address in networking: http://www.net.com for
further information.
# # #
N.E.T. is a trademark and the N.E.T. logo is a registered trademark of Network
Equipment Technologies, Inc.
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