<PAGE>
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): MARCH 17, 2000
SBS TECHNOLOGIES, INC.
------------------
New Mexico 1-10981 85-0359415
- ------------------------ --------------------- ----------------------
(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
2400 Louisiana Blvd, NE AFC Bldg 5-600 Albuquerque, New Mexico 87110
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (505) 875-0600
--------------
<PAGE>
ITEM 5. OTHER EVENTS
On March 17, 2000, SBS Technologies, Inc. ("SBS") issued a news release with
respect to its expected financial results.
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.
SBS TECHNOLOGIES, INC.
Date: March 22, 2000 By: /s/ J. E. DIXON
----------------------
James E. Dixon, Jr.
Vice President
Finance & Administration
<PAGE>
SBS TECHNOLOGIES, INC. AND SUBSIDIARIES
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT NUMBER DESCRIPTION METHOD OF FILING
- -------------- -------------------------------------- -----------------------------
<S> <C> <C>
99.1b Press Release by SBS Technologies, Inc. Filed herewith electronically
Dated March 17, 2000
</TABLE>
<PAGE>
EXHIBIT 99.1B
FOR IMMEDIATE RELEASE
SBS TECHNOLOGIES, INC. COMMENTS ON EXPECTATIONS FOR THIRD FISCAL
QUARTER 2000 EARNINGS
ALBUQUERQUE, NM - MARCH 17, 2000 -- SBS Technologies, Inc. ("SBS") ("the
company") (Nasdaq:SBSE) said today that, based on preliminary estimates, it
expects operating results for the third fiscal quarter of 2000 to be lower
than analysts' estimates and previous company guidance. The company expects
to report revenues in the range of $29 to $30 million for the quarter ending
March 31, 2000, an increase of approximately 10% from the prior year period.
The company expects earnings per share for the quarter to be in the range of
35 to 39 cents compared to 47 cents for the year-ago quarter. The company
will host a conference call at 2:30 p.m. Eastern Time this afternoon, Friday,
March 17, 2000, to further discuss these changes in business conditions. To
participate, please dial (888) 790-1895, with passcode "SBS." A replay will
be available. See below for details.
"While we are very pleased with the progress of our telecommunications
business, we are very disappointed with overall results for this quarter,"
said Christopher J. Amenson, Chairman and Chief Executive Officer. "Several
of our high-profit legacy product lines and our international business are
not performing to expectations. We do expect our telecommunications revenue
to increase by approximately 100% in the March quarter over the prior year
third quarter and to be about 33% of total revenue. We also expect to
accelerate growth in telecommunications with the completion of the announced
acquisition of SDL Communications, Inc. shortly after the end of the
quarter," Amenson continued.
"We are confident of the strategy we have in place. Our focus over the past
several months has been in developing our rapidly growing telecommunication
business, as we have shifted employment and investment into this area and are
achieving excellent results. We have had record bookings this fiscal year,
principally resulting from telecommunications orders. These bookings have
produced a substantial increase in backlog, which is at an historical high
for the company. We have also completed the acquisition of SciTech, Inc. and
made good progress on the SDL acquisition, reflective of our efforts in the
development of our telecommunications business," Amenson said.
"As we intend, our mix is shifting from business that is small lot, quick
lead-time to larger order, longer-lead time, OEM production activity. Our
legacy aerospace and bus adapter product lines are sold with short lead-times
in small unit quantities to over 400 customers at much higher than company
average margins. These businesses are broadly based and do not provide good
forward visibility, and fluctuations in sales volume for the legacy products
have a significant effect on earnings, as we are seeing this quarter. The
strategy we are implementing calls for this business to play a reduced role
in our portfolio, but we did not expect these markets to soften as they
have," Amenson said.
-MORE-
<PAGE>
SBS Technologies, Inc. Comments on Expectations for Third Fiscal Quarter 2000
Earnings
PAGE 2
"Given the weakness we have seen this quarter, and the significant earnings
impact, we believe it is prudent to anticipate similar business conditions in
the aerospace and bus adapter markets for the balance of this fiscal year and
the next. As a result, we now expect our fiscal fourth quarter revenue and
earnings to be relatively flat with the third, not taking into effect the SDL
acquisition. We believe it is also prudent to anticipate that a majority of
our growth will come from telecommunications in fiscal 2001, which we believe
should cause total company revenue to increase approximately 25% and earnings
per share to increase approximately 20% from the current full fiscal year,
again without consideration for the SDL acquisition. Taking the SDL
acquisition into consideration, we expect revenue from telecommunications to
comprise approximately 50% of total company revenue for fiscal 2001," Amenson
said.
CONFERENCE CALL REPLAY:
A replay of the conference call held at 2:30 p.m. ET, Friday, March 17, 2000,
will be available one hour following the conclusion of the live call through
Wednesday, March 22, 2000, 5:00 p.m. ET. The dial-in number for the replay is
(888) 568-0870.
SBS expects to announce third quarter earnings on April 18, 2000 after the close
of trading on the NASDAQ.
SBS Technologies, Inc. is a leading designer and manufacturer of
open-architecture, standard bus embedded computer components that OEM system
designers can easily utilize to create custom solutions. SBS embedded
computers are used in a variety of applications, such as telecommunications,
medical electronics, industrial control and aerospace. SBS customers include
leading industry companies such as Lucent, Ericsson, GE, PerkinElmer, Applied
Materials, Lam Research, Boeing and Lockheed Martin. SBS product lines
include CPU boards, general purpose and Wide Area Network input/output (I/O)
modules, avionics interfaces, computer interconnection and expansion units,
and integrated computing platforms. For news releases, product and other
information, visit the SBS Web site at http://www.sbs.com.
This release contains forward-looking statements regarding future events or
the future financial performance of SBS, and are subject to a number of risks
and other factors which could cause the actual results to differ materially
from those contained in the forward-looking statements. Among such factors
are: business and economic conditions generally, and in the markets addressed
by SBS' products; customer acceptance of and demand for SBS' products; SBS'
ability to design, test and introduce new products on a timely basis; the
cyclical nature of the markets addressed by SBS' products; and the risk
factors listed in SBS' Form 10-K for the year ended June 30, 1999 filed with
the Securities and Exchange Commission on September 23, 1999.
###
Contact: Jennifer D. Wade
Manager, Investor Relations
Tel. (800) 659-6906
email: [email protected]
