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UNITED STATES
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):
JULY 14, 2000
Auspex Systems, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 0-21432 93-0963760
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(State or other jurisdiction of (Commission File Number) (IRS Employer Identification No.)
incorporation
2800 Scott Boulevard, Santa Clara, California 95050
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (408) 566-2000
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Item 5. Other Events
On July 14, 2000, Auspex Systems, Inc. ("Auspex") issued the
following press release:
"AUSPEX SYSTEMS EXPECTS LOWER FOURTH
QUARTER REVENUE, EARNINGS
SANTA CLARA, CA--July 14, 2000--Auspex Systems, Inc. (NASDAQ:ASPX), a
leader in the Network Attached Storage market, today announced that it
expects to report a net loss of between $0.46 and $0.48 per share on
revenues of between $12 and $12.5 million. Final results for the
quarter ended June 30 are expected to be released on July 27.
In the same quarter last year, the company reported a net loss of
$0.51 per share on revenues of $26.1 million.
The Company said the quarter's revenue was affected by lower than
expected product sales, particularly in the Pacific Rim.
"While our revenues are disappointing, we ended the quarter with a
backlog of orders for new product. Our service revenues continue to be
strong. The restructuring process is now complete, significantly
reducing our expense run rate going forward, and we continue to
concentrate on strengthening our sales and marketing organizations,"
said Gary J. Sbona, Chairman and Chief Executive Officer.
In addition, effective June 30, 2000, Mr. Stephen Cheheyl and Mr.
Frank King resigned as Directors of the Company. "We thank them for
their contributions to the Company and wish them well for the future.
We are engaged in an active search to find qualified new Board members
who will contribute to the future success of the Company," said Mr.
Sbona.
About Auspex
Auspex Systems is a leading provider of network data-access solutions
for All the Data, All the Time(TM). The company's customers are the
market leaders and innovators in some of today's most competitive
industries, where around-the-clock availability of data is essential
in order to achieve the individual objectives of their businesses.
Visit the company's web site at www.auspex.com.
The statements in this press release regarding expected fourth quarter
losses and revenues, the date of release of such financial
information, the continuing strength of service revenues, and reduced
expense run rates, are forward-looking statements
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based on current information and expectations and involve a number of
risks and uncertainties. Actual results and events may differ
materially from those projected in such statements due to various
factors, including but not limited to: Market acceptance of our
products; the significant percentage of Auspex's sales occurring at
the very end of the quarter making predictions especially difficult
and creating a substantial risk of variance in actual results; changes
in pricing competition in the market; and the ability to recruit and
retain qualified personnel. For more information concerning these and
other possible risks, please refer to the Company's Form 10-K, Forms
10-Q and other filings with the Securities and Exchange Commission.
These filings can be accessed over the Internet at
http://www.sec.gov."
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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.
Date: July 19, 2000
AUSPEX, INC.
/s/ Peter R. Simpson
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Peter R. Simpson
Chief Financial Officer
