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UNITED STATES SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
|X| CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 28, 1999
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SYMMETRICOM, INC.
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
California 0-2287 No. 95-1906306
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
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2300 Orchard Parkway,
San Jose, California 95131-1017
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (408) 943-9403
Not Applicable
(Former name or former address, if changed since last report)
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Item 5: Other Events
On August 4, 1999, Symmetricom, Inc. ("the Company") announced the
resignation of Roger A. Strauch, a Director of the Company. Mr. Strauch resigned
effective July 28, 1999.
Additionally on August 4, 1999, the Company announced that Richard N.
Snyder had been appointed as a Director of the Company as of July 30, 1999.
Item 7: Financial Statements and Exhibits
(c) Exhibit
99.5 Symmetricom, Inc.'s August 4, 1999 Press Release announcing Roger Strauch's
resignation from the Board of Directors and Richard Snyder's appointment to the
Board of Directors.
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.
SYMMETRICOM, INC.
(Registrant)
DATE: August 18, 1999 By: /s/ Thomas W. Steipp
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Thomas W. Steipp
Chief Executive Officer
and Chief Financial Officer
(for Registrant and as
Principal Financial
and Accounting Officer)
2
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EXHIBIT 99.5
Investor contact:
Ed Lockwood
Symmetricom
(408) 428-7845
[email protected]
Leigh Salvo
DirectIR
(510) 527-7867
[email protected]
Symmetricom Announces Changes to Board of Directors
San Jose, California -- August 4, 1999 -- Symmetricom, Inc. (NASDAQ: SYMM), a
leading supplier of advanced network synchronization and timing products for the
global telecommunications industry, announced today that it has named Richard N.
Snyder to the Company's board of directors and accepted the resignation of Roger
A. Strauch, a member of the board of directors since 1995.
"I am pleased to welcome Richard Snyder to our board, and wish to thank Roger
Strauch for his years of valuable service to Symmetricom, and continued success
in his role as Chairman of The Roda Group," said Richard W. Oliver, Chairman of
the Board of Directors of Symmetricom.
"Richard Snyder joins our board with an impressive record of achievement in key
leadership roles in several large multinational technology corporations,"
continued Dr. Oliver. "His background as a senior executive at Hewlett-Packard,
Dell Computer and Compaq will add invaluable expertise to our Board of
Directors, particularly in the areas of global marketing, product management and
strategic planning."
Mr. Snyder, founder and Chief Executive Officer of Corum Cove Consulting, LLC, a
consulting firm specializing in providing strategic guidance to high technology
businesses, has over 25 years of experience in the technology industry. At
Hewlett-Packard, Mr. Snyder served as Group General Manager for the $3 billion
inkjet printer business, where he created the Deskjet brand. As Senior Vice
President at Dell Computer, Mr. Snyder led the establishment of Dell's
successful Internet sales model and was responsible for all operations of Dell's
$3.5 billion Americas Region. Mr. Snyder also served as Senior Vice President of
worldwide sales, marketing, service and support for Compaq Computer, where he
held P&L responsibility for Compaq's $20 billion geographic sales region.
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Mr. Snyder is Chairman of the Board of Directors of InfinOp, Inc., a data
compression technology company, and Guardian-on-Board, Inc., an Israeli-based
electronics company. He is a member of the board of directors of VTEL Corp.
(NASDAQ: VTEL), a leader in digital visual communications; and BioQ.com, a
provider of automated regulatory processes to medical companies .
Mr. Strauch, a member of the Board of Directors of Symmetricom since 1995, is
Chairman of The Roda Group, a venture development firm based in Berkeley,
California. He is also Chairman of the Board of Ask Jeeves, Inc. (Nasdaq:ASKJ)
and Nightfire Software, Inc., both Roda Group affiliated companies.
Symmetricom, Inc. (Nasdaq:SYMM) provides advanced network synchronization
products that play a critical role in the operation and quality of service of
sophisticated telecommunications networks. The company is developing products
based on its proprietary Global Positioning System, BesTime(TM) intelligent
clock, and PowerHelix(TM) antenna technologies to address synchronization,
timing and location needs of global communications markets. Symmetricom's
synchronization and timing equipment is installed in telecommunications offices
in over 50 countries worldwide.
