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Previous: VALUE LINE NEW YORK TAX EXEMPT TRUST, N-30D, 1995-10-19 |
Next: ALLIANCE PORTFOLIOS, 497, 1995-10-19 |
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): October 19, 1995
SEQUENT COMPUTER SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
____________________
OREGON 0-15627 93-0826369
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or No.)
organization)
Sequent Computer Systems, Inc.
15450 SW Koll Parkway
Beaverton, Oregon 97006-6063
(Address of Principal (Zip Code)
Executive Offices)
____________________
Registrant's telephone number,
including area code: (503) 626-5700
<PAGE>2
Item 5. Other Events
The summary financial statements for the quarter ended
September 30, 1995 filed as Exhibit 99 are incorporated herein
by reference.
Exhibit.
99 Summary financial statements for the quarter ended
September 30, 1995
<PAGE>3
SIGNATURE
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.
Dated: October 19, 1995
SEQUENT COMPUTER SYSTEMS, INC.
By ROBERT S. GREGG
--------------------------------
Robert S. Gregg,
Sr. Vice President of Finance and
Legal and Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Sequential
Exhibit Page
Number Document Description Number
- ------- -------------------- ----------
99 Summary financial statements for the
quarter ended September 30, 1995.
EXHIBIT 99
<TABLE>
<CAPTION>
SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES
SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Amounts in thousands, except per share data)
- ---------------------------------------------------------------------------------------------------------
Three Months Ended Nine Months Ended
Sept. 30, 1995 Oct. 1, 1994 Sept. 30, 1995 Oct. 1, 1994
-------------- ------------ -------------- ------------
<S> <C> <C> <C> <C>
Revenue:
Product revenue $ 96,970 $ 93,235 $ 283,499 $ 247,248
Service revenue 36,245 28,012 105,022 76,667
--------- --------- --------- ---------
Total revenue 133,215 121,247 388,521 323,915
Costs and expenses:
Cost of products sold 45,286 47,477 132,716 122,210
Cost of service revenue 28,364 19,449 78,469 53,788
Research and development 10,220 9,383 29,965 25,686
Selling, general
and administrative 38,653 34,235 111,943 97,532
--------- --------- --------- ---------
Total costs and expenses 122,523 110,544 353,093 299,216
Operating income 10,692 10,703 35,428 24,699
Interest and other, net (287) (284) (843) (541)
--------- --------- --------- ---------
Income before provision
for income taxes 10,405 10,419 34,585 24,158
Provision for income taxes 2,964 1,545 10,181 3,409
--------- --------- --------- ---------
Net income $ 7,441 $ 8,874 $ 24,404 $ 20,749
========= ========= ========= =========
Net income per share $ 0.22 $ 0.28 $ 0.73 $ 0.65
========= ========= ========= =========
Weighted average number of
common and common equivalent
shares outstanding 34,515 32,172 33,555 31,723
========= ========= ========= =========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES
SUMMARY CONSOLIDATED BALANCE SHEETS (Unaudited)
(Amounts in thousands, except per share data)
- ----------------------------------------------------------------------------------------
Sept. 30, 1995 Dec 31, 1994
-------------- ------------
<S> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents $ 64,133 $ 46,291
Restricted deposits 35,473 59,437
Receivables, net 157,097 133,571
Inventories 59,439 48,698
Prepaid royalties and other 18,596 12,812
--------- ---------
Total current assets 334,738 300,809
Property and equipment, net 99,536 94,214
Capitalized software costs, net 43,203 38,555
Intangible assets and other, net 2,160 2,399
--------- ---------
Total assets $ 479,637 $ 435,977
========= =========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Notes payable $ 35,473 $ 59,437
Accounts payable and other 61,910 46,744
Accrued payroll 11,414 11,794
Unearned revenue 16,285 9,716
Income taxes payable 6,292 3,850
Current obligations
under capital leases and debt 1,331 800
--------- ---------
Total current liabilities 132,705 132,341
Other accrued expenses 1,496 2,100
Long-term obligations
Under capital leases and debt 9,102 10,341
--------- ---------
Total liabilities 143,303 144,782
--------- ---------
Shareholders' equity:
Preferred stock, $.01 par,
none outstanding -- --
Common stock, $.01 par,
32,916 and 31,360 shares outstanding 329 314
Paid-in capital 297,096 278,145
Retained earnings 42,276 17,872
Foreign currency translation adjustment (3,367) (5,136)
--------- ---------
Total shareholders' equity 336,334 291,195
--------- ---------
Total liabilities and
shareholders' equity $ 479,637 $ 435,977
========= =========
</TABLE>
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