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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
February 18, 1999
Date of Report (Date of earliest event reported)
XIRCOM, INC.
(Exact name of registrant as specified in its charter)
California 0-19856 95-4221884
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(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation)
2300 Corporate Center Drive
Thousand Oaks, CA 91320-1420
(Address of principal executive offices)
(805) 376-9300
(Registrant's telephone number, including area code)
Not Applicable
(Former name or address, if change since last report)
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Item 5. Other Events.
The purpose of this Form 8-K is to file a press release issued by Xircom,
Inc. on February 18, 1999 regarding the Company's announcement that Intel
Corporation exercised a warrant to purchase additional shares of Xircom common
stock and Xircom's concurrent repurchase of those shares. A copy of the press
release is filed herewith as Exhibit 99.1 and is hereby incorporated by
reference to this Item 5.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 - Press Release dated February 18, 1999 entitled "Xircom Repurchases
514,314 Shares From Intel Warrant Exercise."
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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.
XIRCOM, INC.
Dated: February 18, 1999 By: /s/ RANDALL H. HOLLIDAY
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Randall H. Holliday
Secretary and General Counsel
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INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
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99.1 Press Release dated February 18, 1999 entitled "Xircom
Repurchases 514,314 Shares From Intel Warrant Exercise."
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Xircom Repurchases 514,314 Shares From Intel Warrant Exercise
Intel Maintains Original 2.5 Million Share Investment in Xircom
THOUSAND OAKS, Calif., February 18, 1999 -- Xircom, Inc. (Nasdaq: XIRC) today
announced that Intel Corporation exercised its warrant to purchase additional
shares of Xircom common stock under a February 1997 agreement which was part of
Intel's initial investment in Xircom. Under the terms of the warrant agreement,
Intel elected to receive 514,314 shares at no additional cost in lieu of
purchasing 1,509,903 shares at an exercise price of $27.01. Concurrent with
the exercise of the Intel warrant, Xircom repurchased all 514,314 shares of
common stock issued to Intel for a total price of $19.8 million, or $38.45 per
share. Independent of the warrant exercise, Intel holds approximately 2.5
million shares of Xircom common stock acquired as part of its original
investment in February 1997.
"The relationship has been very successful to date in terms of technology
transfer, joint development and joint sales and marketing," said Mark
Christensen, Vice President and General Manager of the Network Communications
Group at Intel Corporation. "We look forward to continuing to maximize our
technology and OEM relationship with Xircom in the future."
"Our stated goal when we initiated the relationship with Intel was to
create a business relationship which benefited both parties," said Dirk Gates,
chairman, president and CEO of Xircom Inc. "We have achieved this goal and
continue to expand our relationship. We are pleased to see that Intel is in a
position to share in the financial upside that our success has created."
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Xircom - A Decade of Focus, Innovation and Leadership in Mobile Communications
Xircom, Inc., founded in 1988, is the world's leading manufacturer and OEM
supplier of mobile communications solutions, including Integrated PC Card and PC
Card products, which connect portable computer users to corporate networks, the
Internet and other online resources. The Company's products are sold and
supported in over 100 countries through a global network of distributors,
integrators and resellers. Xircom, headquartered in Thousand Oaks, Calif., with
regional headquarter offices in Antwerp, Belgium, Tokyo, Japan and Singapore,
has 1,100 employees worldwide and trailing four-quarter revenue of $320 million.
More information about Xircom and Xircom products may be found at
www.xircom.com.
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US Sales: (800) 438-4526 Telephone: (805) 376-9300 Fax: (805) 376-9311
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For more information contact:
Kristi Cushing Craig Rexroad
Xircom Investor Relations P/E
(805) 376-9300 (310) 275-8784
[email protected] [email protected]
http://www.xircom.com
Xircom is a registered trademark of Xircom, Inc. Other company or product names
have been used for identification purposes only and may be trademarks of their
respective companies.
Notice to Readers. This news release contains forward-looking statements based
on current expectations that involve a number of risks and uncertainties which
could cause actual results to differ materially and include, but are not limited
to, future technology and OEM developments. Other additional risks are described
in the company's SEC reports on Form 10-K for the fiscal year ended September
30, 1998, as well as the report on Form 10-Q for the quarter ended December 31,
1998. Investor information may be found on Xircom's web site at www.xircom.com
or on the SEC's EDGAR electronic filing database.
