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) March 5, 1996
GLENAYRE TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-15761 98-0085742
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5935 Carnegie Boulevard, Charlotte, North Carolina 28209
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (704) 553-0038
Not applicable
(Former name or former address, if changed since last report.)
Page 1 of 4 Pages
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Item 5. Other Events.
The Registrant announced on March 5, 1996 the possible negative impact
on its first quarter 1996 net sales as a result of the recent Federal
Communications Commission Notice of Proposed Rulemaking. The Registrant's Press
Release is filed herewith as Exhibit 99 to this Report.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99 Registrant's Press Release dated March 5, 1996.
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.
GLENAYRE TECHNOLOGIES, INC.
By s/ Stanley Ciepcielinski
Stanley Ciepcielinski
Executive Vice President and
Chief Financial Officer
Dated: March 11, 1996
Page 2 of 4 Pages
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
EXHIBITS
FORM 8-K
CURRENT REPORT
Date of Report Commission File Number
March 5, 1996 0-15761
GLENAYRE TECHNOLOGIES, INC.
EXHIBIT INDEX
Exhibit No Exhibit Description
99 Glenayre Technologies, Inc.
Press Release dated March 5,
1996.
Page 3 of 4 Pages
Exhibit 99
News Release
CONTACT: Stan Ciepcielinski, CFO
704/553-0038
704/553-7878 Fax
GLENAYRE TECHNOLOGIES ANNOUNCES NEGATIVE IMPACT ON
FIRST QUARTER 1996 NET SALES RESULTING FROM FCC ACTION
Charlotte, North Carolina, March 5, 1996 -- Glenayre Technologies, Inc.
(Nasdaq: GEMS) announced today that the recent Federal Communications Commission
("FCC") Notice of Proposed Rule Making ("NPRM"), which included a freeze on the
acceptance of new applications for 900 MHz paging system licenses, will
negatively impact the Company's 1996 first quarter net sales.
The Company indicated that the FCC action may result in a $10 million
to $12 million reduction in net sales from analyst consensus estimates for the
first quarter of 1996. The Company stated that the overall impact of the FCC
action on 1996 annual net sales cannot presently be determined due to the
uncertainty of final regulatory changes, including the duration of the licensing
freeze.
The FCC accepted comments on the NPRM on March 1, 1996, with replies
due by March 11, 1996. Final revisions to current regulations, if any, will be
determined by the FCC sometime after the NPRM's final comment date of March 18,
1996.
Ramon Ardizzone, President and CEO, stated, "We are working
independently and with the Personal Communications Industry Association (PCIA)
and its members in their request to the FCC to immediately rescind the licensing
freeze and to provide other clarifications of the FCC's actions taken on the 900
MHz paging channels, to prevent additional negative impact to the paging
industry."
Glenayre Technologies is a worldwide provider of telecommunications
equipment and related software used by leading wireless personal communications
service providers. The Company specializes in paging, cellular, voice
processing, mobile data and point-to-point wireless interconnection products and
systems. The Company is included in the Nasdaq-100 Index(R).
Page 4 of 4 Pages
