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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: OCTOBER 22, 1999
APPLIED INNOVATION INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 0-21352 31-1177192
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(STATE OR OTHER (COMMISSION FILE NO.) (IRS EMPLOYER
JURISDICTION OF IDENTIFICATION NUMBER)
INCORPORATION OR
ORGANIZATION)
5800 INNOVATION DRIVE
DUBLIN, OHIO 43016
(614) 798-2000
(ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER
INCLUDING AREA CODE OF REGISTRANT'S
PRINCIPAL EXECUTIVE OFFICES)
Not Applicable
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS.
On October 22, 1999, Applied Innovation Inc., a Delaware corporation
(the "Company"), announced that its Board of Directors approved a one year
extension of the Company's 1,000,000 share stock repurchase program originally
adopted in October 1998.
The press release is included as Exhibit 99 to this Form 8-K and is
incorporated herein by this reference.
ITEM 7. EXHIBITS.
(c) EXHIBITS.
Exhibit No. Description
99 Press Release, dated October 22, 1999, entitled
"Applied Innovation Inc. Extends Stock Repurchase
Program."
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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.
APPLIED INNOVATION INC.
Date: October 26, 1999
By: /s/ Michael P. Keegan
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Michael P. Keegan, Vice President
and Chief Financial Offiicer
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EXHIBIT INDEX
Exhibit No. Description
99 Press Release, dated October 22, 1999, entitled "Applied
Innovation Inc. Extends Stock Repurchase Program."
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EXHIBIT 99
APPLIED INNOVATION INC. EXTENDS STOCK REPURCHASE PROGRAM
DUBLIN, Ohio -- Oct. 22, 1999--Applied Innovation Inc. (Nasdaq: AINN - news)
today announced that its Board of Directors approved a one year extension of the
Company's 1,000,000 share stock repurchase program originally adopted in October
1998. Under this program, the Company has repurchased 334,600 shares in the past
year. With the extension, the Company may repurchase up to an additional 665,400
shares of its Common Stock, $0.01 par value, through October 31, 2000.
The Board approved the repurchase of shares in public market transactions
through or with brokers and dealers, or in negotiated private transactions with
shareholders, as approved by management. The Company intends to repurchase such
shares using cash reserves. Applied Innovation Inc. is the leading provider of
mediation products, which enable communications between network elements and
operational support systems for the management of telecommunications carriers'
networks. Applied Innovation's products provide communications and
interoperability for more than 100,000 network elements within many of the
world's largest and fastest growing telecommunications service providers.
Applied Innovation Inc. is headquartered in Dublin, Ohio and can be reached on
the World Wide Web at http://www.aiinet.com.
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This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created thereby. Those statements include, but are
not limited to, all statements regarding intent, beliefs, expectations,
projections, forecasts, and plans of the Company and its management, and
specifically include statements that the Company may repurchase its shares using
its cash reserves. These forward-looking statements involve numerous risks and
uncertainties, including, without limitation: the Company's ability to
repurchase the shares in market or private transactions at acceptable prices,
the availability of sufficient cash reserves to fund the repurchases, and other
risks and uncertainties detailed from time to time in the Company's Securities
and Exchange Commission filings, including the Company's Annual Report on Form
10-K for the year ended December 31, 1998. One or more of these factors have
affected, and could in the future affect, the Company's business and financial
results in future periods and could cause actual results to differ materially
from plans and projections. Therefore, there can be no assurances that the
forward-looking statements included in this press release will prove to be
accurate. In light of the significant uncertainties in the forward-looking
statements included herein, the inclusion of such information should not be
regarded as a representation by the Company, or any other persons, that the
objectives and plans of the Company will be achieved. All forward-looking
statements made in this press release are based on information presently
available to the management of the Company.
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The Company assumes no obligation to update any forward-looking statements.
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Contact:
Applied Innovation Inc.
Michael P. Keegan, 614/798-2000
or
Robert A. Lentz & Associates
Robert A. Lentz, 614/876-2000
