<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report: February 15, 2000
(Date of Earliest Event Reported)
WIND RIVER SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-21342 94-2873391
(State of jurisdiction) (Commission File No.) (IRS Employer
Identification No.)
500 Wind River Way
Alameda, CA 94501
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (510) 748-4100
1
<PAGE>
Item 5. Other Events
On February 15, 2000, Wind River Systems, Inc. ("Wind River")
completed its acquisition of Integrated Systems, Inc. ("ISI") in a
stock-for-stock transaction. ISI was acquired pursuant to an Agreement and
Plan of Merger and Reorganization, dated as of October 21, 1999 (the "Merger
Agreement"), by and among Wind River, ISI and University Acquisition Corp., a
wholly owned subsidiary of Wind River ("Merger Sub"). Pursuant to the Merger
Agreement, Merger Sub was merged with and into ISI, with ISI being the
surviving corporation (the "Merger"). As a result of the Merger, ISI became a
wholly owned subsidiary of Wind River. In connection with the Merger: (a)
each outstanding share of ISI common stock was exchanged for .92 of a share
of Wind River common stock, resulting in the issuance of an aggregate of
22,499,895 shares of Wind River common stock for all outstanding shares of
ISI common stock, and (b) all options to purchase shares of ISI common stock
outstanding immediately prior to the consummation of the Merger were
converted into options to purchase shares of Wind River common stock. An
aggregate of 4,133,128 Wind River shares have been reserved for the exercise
of stock options, determined by multiplying the number of ISI shares subject
to stock options by the exchange ratio set forth above. The merger is being
accounted for as a pooling of interests.
The terms of the transaction were approved by the Boards of
Directors of Wind River, ISI and Merger Sub.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
On February 28, 2000, Wind River filed a Form 8-K to report its
acquisition of ISI. Pursuant to Item 7 of Form 8-K, Wind River indicated that
it would file certain financial information no later than the date required
by Item 7 of Form 8-K. This Amendment No. 1 is filed to provide the required
financial information.
(a) Financial Statements of Business Acquired
See Exhibit 99.2 for the audited financial statements of Integrated
Systems, Inc.
(b) Pro Forma Combined Financial Information
The following unaudited pro forma combined financial statements
give effect to the merger of Wind River and ISI to be accounted for
under the pooling-of-interests method. The accompanying unaudited
pro forma combined balance sheet gives effect to the merger of Wind
River and ISI as if such transaction occurred on January 31, 2000.
The unaudited pro forma combined statements of operations give
effect to the merger of Wind River and ISI as of the earliest
period presented by combining the results of operations of Wind
River for the years ended January 31, 1998 and 1999 with the
results of operations of ISI for the years ended February 28, 1998
and 1999, respectively. Prior to the merger of Wind River and ISI,
ISI's fiscal year ended on the last day of February. In presenting
the merger of Wind River and ISI in these pro forma combined
financial statements, ISI's consolidated financial statements as of
and for each of the two years in the period ended February 28, 1999
have been combined with Wind River's consolidated financial
statements as of and for each of the two years in the period ended
January 31, 1999. ISI is expected to change its fiscal year-end to
January 31 to conform to Wind River's year-end. As a result, an
adjustment has been made to stockholders' equity as of January 31,
1999, to eliminate the effect of including ISI's unaudited results
of operations for the month ended February 28, 1999 in the year
ended January 31, 2000.
2
<PAGE>
The accompanying pro forma combined financial statements do not
extend through the date of consummation of the business combination;
however, they will become the historical consolidated financial
statements of the combined company after financial statements
covering the date of consummation of the business combination are
issued.
The unaudited pro forma information is presented for illustrative
purposes only and is not necessarily indicative of the operating
results or financial position that would have occurred if the merger
had been consummated at the beginning of the periods presented, nor is
it necessarily indicative of future operating results or financial
position.
3
<PAGE>
WIND RIVER SYSTEMS, INC.
UNAUDITED SUPPLEMENTAL COMBINED BALANCE SHEET
(IN THOUSANDS)
<TABLE>
<CAPTION>
INTEGRATED
WIND RIVER SYSTEMS
----------- ------------
PRO FORMA PRO FORMA
JANUARY 31, 2000 ADJUSTMENTS COMBINED
------------------------- ---------- ---------
<S> <C> <C> <C> <C>
ASSETS
Current Assets:
Cash and Cash Equivalents........................................... $ 58,621 $ 19,906 $ (598) $ 77,929
Short-Term Investments.............................................. 25,383 328 25,711
Accounts Receivable, net of allowances.............................. 48,621 31,111 (146) 79,586
Prepaid and Other Current Assets.................................... 21,893 13,482 35,375
--------- ---------- ---------- ---------
Total Current Assets........................................... 154,518 64,827 (744) 218,601
Investments.......................................................... 184,572 24,345 208,917
Land and Equipment, net.............................................. 35,755 20,576 56,331
Other Assets......................................................... 8,621 37,710 (834) 45,497
Restricted Cash...................................................... 39,744 -- 39,744
--------- ---------- ---------- ---------
Total Assets................................................... $ 423,210 $ 147,458 $ (1,578) $ 569,090
========= ========== ========== =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable................................................... $ 6,393 $ 4,158 $10,551
Line of Credit..................................................... 5,094 -- 5,094
Accrued Liabilities................................................ 11,059 11,228 22,287
Accrued Compensation............................................... 10,335 7,575 17,910
Income Taxes Payable............................................... 9,862 -- (281) 9,581
Deferred Revenue................................................... 24,476 24,925 49,401
--------- ---------- ---------- ---------
Total Current Liabilities...................................... 67,219 47,886 (281) 114,824
Deferred Taxes Payable............................................... 12,408 -- (834) 11,574
Long-Term Debt....................................................... -- 598 598
Convertible Subordinated Notes....................................... 140,000 -- 140,000
--------- ---------- ---------- ---------
Total Liabilities.............................................. 219,627 48,484 (1,115) 266,996
--------- ---------- ---------- ---------
Minority Interest in Consolidated Subsidiary......................... 878 -- 878
Stockholders' Equity:
Common Stock....................................................... 43 -- 43
Additional Paid in Capital......................................... 140,715 75,457 216,172
Loan to Stockholder................................................ (1,900) -- (1,900)
Treasury Stock at Cost............................................. (29,488) -- (29,488)
Accumulated Other Comprehensive Income (Loss)...................... 18,300 (1,801) 16,499
Retained Earnings.................................................. 75,035 25,318 (463) 99,890
--------- ---------- ---------- ---------
Total Stockholders' Equity..................................... 202,705 98,974 (463) 301,216
--------- ---------- ---------- ---------
Total Liabilities and Stockholders' Equity................... $ 423,210 $ 147,458 $ (1,578) $ 569,090
========= ========== ========== =========
</TABLE>
See the accompanying notes to unaudited pro forma combined financial
statements.
4
<PAGE>
WIND RIVER SYSTEMS, INC.
UNAUDITED PRO FORMA COMBINED BALANCE SHEET
(IN THOUSANDS)
<TABLE>
<CAPTION>
INTEGRATED
WIND RIVER SYSTEMS
----------- ------------
JANUARY 31, FEBRUARY 28, PRO FORMA
1999 1999 COMBINED
----------- ------------ ----------
<S> <C> <C> <C>
ASSETS
Current Assets:
Cash and Cash Equivalents............................................... $ 42,837 $ 19,079 $ 61,916
Short-Term Investments.................................................. 11,043 9,554 20,597
Accounts Receivable, net of allowances.................................. 30,926 28,431 59,357
Prepaid and Other Current Assets........................................ 10,598 7,615 18,213
--------- ---------- ----------
Total Current Assets................................................ 95,404 64,679 160,083
Investments............................................................... 158,628 49,698 208,326
Land and Equipment, net................................................... 31,513 18,633 50,146
Other Assets.............................................................. 10,011 10,025 20,036
Restricted Cash........................................................... 34,157 -- 34,157
--------- ---------- ----------
Total Assets........................................................ $ 329,713 $ 143,035 $ 472,748
========= ========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts Payable........................................................ $ 3,472 $ 4,761 $ 8,233
Accrued Liabilities..................................................... 10,005 10,668 20,673
Accrued Compensation.................................................... 6,030 6,250 12,280
Income Taxes Payable.................................................... 445 2,562 3,007
Deferred Revenue........................................................ 17,318 18,003 35,321
--------- ---------- ----------
Total Current Liabilities........................................... 37,270 42,244 79,514
Convertible Subordinated Notes............................................ 140,000 -- 140,000
--------- ---------- ----------
Total Liabilities................................................... 177,270 42,244 219,514
--------- ---------- ----------
Minority Interest in Consolidated Subsidiary.............................. 551 -- 551
Stockholders' Equity:
Common Stock............................................................ 42 -- 42
Additional Paid in Capital.............................................. 126,855 59,848 186,703
Treasury Stock at Cost.................................................. (25,491) -- (25,491)
Accumulated Other Comprehensive Income (Loss)........................... (2,155) (759) (2,914)
Retained Earnings....................................................... 52,641 41,702 94,343
--------- ---------- ----------
Total Stockholders' Equity.......................................... 151,892 100,791 252,683
--------- ---------- ----------
Total Liabilities and Stockholders' Equity........................ $ 329,713 $ 143,035 $ 472,748
========= ========== ==========
</TABLE>
See the accompanying notes to unaudited pro forma combined financial
statements.
5
<PAGE>
WIND RIVER SYSTEMS, INC.
UNAUDITED SUPPLEMENTAL COMBINED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
INTEGRATED
WIND RIVER SYSTEMS
----------- ------------
YEAR ENDED PRO FORMA PRO FORMA
JANUARY 31, 2000 ADJUSTMENTS COMBINED
------------------------- ------------ ----------
<S> <C> <C> <C> <C>
Revenues:
Products................................................... $ 125,529 $ 86,042 $ (893) $ 210,678
Services................................................... 45,581 59,803 (8) 105,376
--------- ---------- --------- ---------
Total Revenues......................................... 171,110 145,845 (901) 316,054
Cost of Revenues:
Products................................................... 11,796 16,782 (180) 28,398
Services................................................... 20,508 22,854 43,362
--------- ---------- --------- ---------
Total Cost of Revenues................................. 32,304 39,636 (180) 71,760
Gross Profit........................................... 138,806 106,209 (721) 244,966
Operating Expenses:
Selling and Marketing...................................... 60,962 62,280 23 123,265
Product Development and Engineering........................ 29,659 25,642 55,301
General and Administrative................................. 17,544 17,982 (1,580) 33,946
Acquisition-Related and Other.............................. -- 8,462 1,436 9,898
Amortization of Intangible Assets.......................... -- 5,528 144 5,672
--------- ---------- --------- ---------
Total Operating Expenses............................... 108,165 119,894 23 228,082
Income (Loss)from Operations................................. 30,641 (13,685) (744) 16,212
Other Income (Expense):
Interest Income............................................ 15,378 3,557 18,935
Interest Expense and Other................................. (9,112) -- (9,112)
Minority Interest in Consolidated Subsidiary............... (327) -- (327)
--------- ---------- --------- ---------
Total Other Income..................................... 5,939 3,557 -- 9,496
--------- ---------- --------- ---------
Income (Loss) before Provision (Benefit) for Income Taxes.... 36,580 (10,128) (744) 25,708
Provision (Benefit) for Income Taxes......................... 14,109 1,517 (281) 15,345
--------- ---------- --------- ---------
Net Income (Loss).................................... $ 22,471 $ (11,645) $ (463) $ 10,363
========= ========== ========= =========
Net Income (Loss) per Share:
Basic...................................................... 0.53 (0.50) $ 0.16
Diluted.................................................... 0.49 (0.50) $ 0.15
Weighted average common and common equivalent shares:
Basic...................................................... 41,674 23,285 63,096
Diluted.................................................... 44,778 23,285 67,029
</TABLE>
See the accompanying notes to unaudited pro forma combined financial
statements.
6
<PAGE>
WIND RIVER SYSTEMS, INC.
UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
INTEGRATED
WIND RIVER SYSTEMS
----------- -----------
YEAR ENDED
-------------------------
JANUARY 31, FEBRUARY 28, PRO FORMA PRO FORMA
1999 1999 ADJUSTMENTS COMBINED
------------ ----------- ------------ ----------
<S> <C> <C> <C> <C>
Revenues:
Products................................................... $ 98,844 $ 76,622 $ (3,674) $ 171,792
Services................................................... 33,058 56,882 3,424 93,364
--------- ---------- --------- ---------
Total Revenues......................................... 131,902 133,504 (250) 265,156
Cost of Revenues:
Products................................................... 8,896 16,169 (866) 24,199
Services................................................... 12,999 22,323 616 35,938
--------- ---------- --------- ---------
Total Cost of Revenues................................. 21,895 38,492 (250) 60,137
Gross Profit........................................... 110,007 95,012 -- 205,019
Operating Expenses:
Selling and Marketing...................................... 45,968 48,743 (1,025) 93,686
Product Development and Engineering........................ 19,147 18,625 37,772
General and Administrative................................. 8,282 12,940 917 22,139
Acquisition-Related and Other.............................. -- 8,507 8,507
Amortization of Intangible Assets.......................... -- 523 108 631
--------- ---------- --------- ---------
Total Operating Expenses............................... 73,397 89,338 -- 162,735
Income from Operations....................................... 36,610 5,674 -- 42,284
Other Income (Expense):
Interest Income............................................ 13,679 4,962 18,641
Interest Expense and Other................................. (8,727) -- (8,727)
Minority Interest in Consolidated Subsidiary............... (151) -- (151)
--------- ---------- --------- ---------
Total Other Income..................................... 4,801 4,962 -- 9,763
--------- ---------- --------- ---------
Income before Provision for Income Taxes..................... 41,411 10,636 -- 52,047
Provision for Income Taxes................................... 15,788 1,003 16,791
--------- ---------- --------- ---------
Net Income............................................. $ 25,623 $ 9,633 $ -- $ 35,256
========= ========== ========= =========
Net Income per Share:
Basic...................................................... 0.64 0.42 $ 0.57
Diluted.................................................... 0.58 0.40 $ 0.54
Weighted average common and common equivalent shares:
Basic...................................................... 40,267 23,138 61,554
Diluted.................................................... 43,843 23,840 65,776
</TABLE>
See the accompanying notes to unaudited pro forma combined financial
statements.
7
<PAGE>
WIND RIVER SYSTEMS, INC.
UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
INTEGRATED
WIND RIVER SYSTEMS
----------- ------------
YEAR ENDED
-------------------------
JANUARY 31, FEBRUARY 28, PRO FORMA PRO FORMA
1998 1998 ADJUSTMENTS COMBINED
----------- ------------ ------------- -----------
<S> <C> <C> <C> <C>
Revenues:
Products................................................... $ 68,380 $ 68,619 $ (5,448) $ 131,551
Services................................................... 25,390 51,850 5,228 82,468
--------- ---------- --------- ---------
Total Revenues......................................... 93,770 120,469 (220) 214,019
Cost of Revenues:
Products................................................... 6,349 14,373 (220) 20,502
Services................................................... 9,633 27,430 37,063
--------- ---------- --------- ---------
Total Cost of Revenues................................. 15,982 41,803 (220) 57,565
Gross Profit........................................... 77,788 78,666 -- 156,454
Operating Expenses:
Selling and Marketing...................................... 33,226 42,701 (1,977) 73,950
Product Development and Engineering........................ 12,898 18,823 31,721
General and Administrative................................. 6,792 11,161 1,977 19,930
Acquired in-process Research and Development............... 15,159 -- 15,159
Amortization of Intangible Assets.......................... -- 688 688
--------- ---------- --------- ---------
Total Operating Expenses............................... 68,075 73,373 -- 141,448
Income from Operations....................................... 9,713 5,293 -- 15,006
Other Income (Expense):
Interest Income............................................ 7,743 3,908 11,651
Interest Expense and Other................................. (4,213) -- (4,213)
Minority Interest in Consolidated Subsidiary............... (88) -- (88)
--------- ---------- --------- ---------
Total Other Income..................................... 3,442 3,908 -- 7,350
--------- ---------- --------- ---------
Income before Provision for Income Taxes..................... 13,155 9,201 -- 22,356
Provision for Income Taxes................................... 8,829 3,128 11,957
--------- ---------- --------- ---------
Net Income............................................. $ 4,326 $ 6,073 $ -- $ 10,399
========= ========== ========= =========
Net Income per Share:
Basic...................................................... 0.11 0.26 $ 0.17
Diluted.................................................... 0.10 0.25 $ 0.16
Weighted average common and common equivalent shares:
Basic...................................................... 38,915 23,237 60,293
Diluted.................................................... 43,567 24,078 65,719
</TABLE>
See the accompanying notes to unaudited pro forma combined financial
statements.
8
<PAGE>
Wind River Systems, Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
1. Basis of Presentation
The accompanying condensed combined financial statements and related
notes of Wind River Systems, Inc. ("Wind River") are unaudited.
However, in the opinion of management, all adjustments (consisting only
of normal recurring adjustments) that are necessary for a fair
presentation of the financial position and results of operations for
the periods presented have been included. These condensed combined
financial statements should be read in conjunction with the audited
consolidated financial statements and notes thereto for the fiscal year
ended January 31, 1999 included in Wind River's Annual Report on Form
10-K.
In accordance with the rules and regulations of the Securities and
Exchange Commission, unaudited condensed combined financial statements
may omit or condense certain information and disclosures normally
required for a complete set of financial statements prepared in
accordance with generally accepted accounting principles. However, Wind
River believes that the notes to the condensed combined financial
statements contain disclosures adequate to make the information
presented not misleading.
The condensed combined financial statements include the accounts of
Wind River and its wholly-owned and majority-owned subsidiaries. All
significant intercompany accounts and transactions have been eliminated
in consolidation.
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the recorded amounts reported in the
unaudited condensed combined financial statements and accompanying
notes. A change in the facts and circumstance surrounding these
estimates could result in a change to the estimates and impact future
operating results.
Certain amounts in the fiscal year 1999 condensed combined financial
statements have been reclassified to conform to the fiscal year 2000
presentation.
2. Periods Presented
Wind River's fiscal year ends on January 31. Prior to the merger,
ISI's fiscal year ended on the last day of February. ISI changed its
year-end to January 31 to conform to Wind River's year-end. The
accompanying unaudited pro forma statements of operations
information gives effect to the merger of Wind River and ISI as if
such merger occurred as of the beginning of the earliest period
presented. The pro forma combined statement of operations for the
year ending January 31, 1998 reflect the results of operations of
Wind River for the year ended January 31, 1998, combined with the
results of operations of ISI for the year ended February 28, 1998.
The pro forma combined statement of operations for the year ending
January 31, 1999 reflect the results of operations of Wind River for
the year ended January 31, 1999, combined with the results of
operations of ISI for the year ended February 28, 1999. The
supplemental combined statement of operations for the year ending
January 31, 2000 reflect the results of operations of Wind River for
the year ended January 31, 2000, which includes the results of
operations for the year ending December 31, 1999 of Wind River's
international subsidiaries, combined with the results of operations
of ISI for the year ended January 31, 2000, which includes the
results of operations for the year ending December 31, 1999 of ISI's
international subsidiaries. An adjustment has been made to
stockholders' equity as of January 31, 1999, to eliminate the effect
of including ISI's unaudited results of operations for the month
ended February 28, 1999 in the year ended January 31, 2000.
The pro forma combined balance sheet as of January 31, 1999,
combines the assets, liabilities and stockholders' equity of Wind
River at January 31, 1999 with the assets, liabilities and
stockholders' equity of ISI as of February 28, 1999. The
supplemental combined balance sheets as of January 31, 2000, combine
the assets, liabilities and stockholders' equity of Wind River
at January 31, 2000 with the assets, liabilities and stockholders'
equity of ISI as of January 31, 2000.
9
<PAGE>
Wind River Systems, Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
The supplemental combined financial statements reflect the
issuance of a total of approximately 22,499,895 shares of Wind
River's common stock for all of the outstanding shares of ISI's
outstanding common stock as of February 15, 2000, which reflects
an exchange ratio of .92 of a share of Wind River's common stock
for each share of ISI's common stock.
3. Merger & Transition Costs
Wind River and ISI incurred approximately $4.0 million of costs
associated with the merger, including $3.0 million for legal,
accounting and other professional consulting fees and $1.0 million for
investment banking fees, which have been recorded in Prepaid and Other
Current Assets at January 31, 2000 and will be charged to operations in
the first quarter of fiscal year 2001. An additional $11.0 million of
transaction costs have been incurred in the first quarter of fiscal
year 2001, of which $9.4 million was associated with investment banking
fees. It is estimated that a further $6.0 million of merger costs
will be incurred in the first quarter of fiscal year 2001, primarily
relating to severance payments.
The foregoing estimate is a forward looking statement that involves
risks and uncertainties. Actual results could differ materially due
to factors such as timing and number of employee terminations,
consolidation and relocation of operations and associated costs.
4. Pro Forma Adjustments
The following pro forma adjustments have been made to the historical
financial statements of Wind River and ISI based upon assumptions made
by management for the purpose of preparing the unaudited pro forma
combined condensed financial statements.
(a) To eliminate intercompany royalties and costs associated with
product sold to Wind River by ISI.
(b) To reclass revenues, bad debt expense and international
general and administrative expenses to conform to Wind
River's presentation, for the years ended January 31, 1999
and 1998, and amortization of intangibles for the years ended
January 31, 2000 & 1999.
(c) To align the international entity year ends.
(d) To reclass tax asset for appropriate GAAP presentation.
5. Pro Forma Net Income Per Share
The pro forma combined basic net income per share is based
on the combined weighted average number of common shares of Wind
River's common stock and ISI's common stock outstanding for each
period, calculated using the exchange ratio that resulted in the
issuance of 22,499,895 shares of Wind River common stock for all of the
outstanding shares of ISI as of February 15, 2000. All employee stock
options have been included in the computation of pro forma combined
diluted net income per share using the treasury stock method to the
extent such instruments were dilutive for the periods presented.
10
<PAGE>
Wind River Systems, Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
6. Segment and Geographic Information
Wind River operates in one industry segment - technology for embedded
operating systems. Management uses one measure of profitability for its
business. Wind River markets its products and related services to
customers in the United States, Canada, Europe and Asia Pacific.
Internationally, Wind River markets its products and services primarily
through its subsidiaries and various distributors. Revenues are
attributed to geographic areas based on the country in which the
customer is domiciled. The distribution of revenues and assets by
geographic location is as follows:
<TABLE>
<CAPTION>
(In thousands) REVENUE
- ---------------------------------------------------------------------------------
PRO FORMA PRO FORMA
WIND RIVER ISI ADJUSTMENTS COMBINED
---------- --- ----------- ---------
<S> <C> <C> <C> <C>
Fiscal year ended January 31, 2000:
North America $113,799 $ 85,117 $ (180) $198,736
Japan 26,411 16,469 42,880
Other International 30,900 44,259 (721) 74,438
- ----------------------------------------------------------------------------------
Total $171,110 $145,845 $ (901) $ 316,054
- ----------------------------------------------------------------------------------
Fiscal year ended January 31, 1999:
North America $ 90,289 $ 77,063 $ (250) $167,102
Japan 17,018 16,916 33,934
Other International 24,595 39,525 64,120
- ----------------------------------------------------------------------------------
Total $131,902 $133,504 $ (250) $265,156
- ----------------------------------------------------------------------------------
Fiscal year ended January 31, 1998:
North America $ 66,845 $ 70,559 $ (220) $137,184
Japan 8,504 18,473 26,977
Other International 18,421 31,437 49,858
- ----------------------------------------------------------------------------------
Total $ 93,770 $120,469 $ (220) $214,019
- ----------------------------------------------------------------------------------
</TABLE>
11
<PAGE>
Wind River Systems, Inc.
Notes to Unaudited Pro Forma Combined Financial Statements
<TABLE>
<CAPTION>
(In thousands) ASSETS
- ---------------------------------------------------------------------
PRO FORMA PRO FORMA
WIND RIVER ISI ADJUSTMENTS COMBINED
---------- --- ----------- ---------
<S> <C> <C> <C> <C>
January 31, 2000:
North America $355,751 $116,282 $ (834) $471,199
Japan 25,596 6,121 31,717
Other International 41,863 25,055 (744) 66,174
- --------------------------------------------------------------------------------
Total $423,210 $147,458 $ (1,578) $569,090
- --------------------------------------------------------------------------------
January 31, 1999:
North America $298,739 $123,029 $421,768
Japan 12,043 6,301 18,344
Other International 18,931 13,705 32,636
- --------------------------------------------------------------------------------
Total $329,713 $143,035 -- $472,748
- --------------------------------------------------------------------------------
January 31, 1998:
North America $270,003 $108,838 $378,841
Japan 7,196 6,950 14,146
Other International 13,642 12,332 25,974
- --------------------------------------------------------------------------------
Total $290,841 $128,120 -- $418,961
- --------------------------------------------------------------------------------
</TABLE>
Other International consists of the revenues and assets of operations in Europe
and Asia Pacific, excluding Japan.
12
<PAGE>
(c) Exhibits
The following exhibits are filed herewith or are incorporated by
reference to exhibits previously filed with the Commission.
EXHIBIT
NUMBER DESCRIPTION
- --------------------------------------------------------------------------------
2.1* Agreement and Plan of Merger and Reorganization, dated as of
October 21, 1999, among Wind River Systems, Inc., University
Acquisition Corp. and Integrated Systems, Inc. (incorporated
by reference to Exhibit 2.1 to Wind River System's Inc's
Registration Statement on Form S-4 (No. 333-91545) filed
November 23, 1999, as amended).
99.1* Press release titled "Wind River Announces the Completion
of its Acquisition of Integrated Systems", dated
February 15, 2000.
99.2* Integrated Systems, Inc. Annual Report on Form 10-K/405 for
the year ended February 28, 1999, dated as of May 26, 1999
(incorporated by reference, File No. 000-18268, filed by
Integrated Systems, Inc. on May 28, 1999.)
----------------------------
* Previously filed.
13
<PAGE>
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.
WIND RIVER SYSTEMS, INC.
Dated: March 31, 2000 By: /s/ RICHARD W. KRABER
-------------------------------
Richard W. Kraber
Chief Financial Officer
14
<PAGE>
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
- --------------------------------------------------------------------------------
2.1* Agreement and Plan of Merger and Reorganization, dated as of
October 21, 1999, among Wind River Systems, Inc., University
Acquisition Corp. and Integrated Systems, Inc. (incorporated
by reference to Exhibit 2.1 to Wind River System's Inc's
Registration Statement on Form S-4 (No. 333-91545) filed
November 23, 1999, as amended).
99.1* Press release titled "Wind River Announces the Completion
of its Acquisition of Integrated Systems", dated
February 15, 2000.
99.2* Integrated Systems, Inc. Annual Report on Form 10-K/405 for
the year ended February 28, 1999, dated as of May 26, 1999
(incorporated by reference, File No. 000-18268, filed by
Integrated Systems, Inc. on May 28, 1999.)
----------------------------
* Previously filed.
