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 8, 1996
DIALOGIC CORPORATION
(Exact name of registrant as specified in its charter)
New Jersey 33-59598 22-2476114
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification Number)
incorporation
1515 Route 10, Parsippany, New Jersey 07054
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (201) 993-3000
<PAGE>
Item 5. Other Events
The Company's Press Release, dated July 8, 1996, is incorporated herein
by reference and filed as an exhibit to this Current Report on Form 8-K.
Item 7. Financial Statements and Exhibits
Exhibit No. 99.1 Press Release dated July 8, 1996
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.
DIALOGIC CORPORATION
July 10, 1996 By: /s/Edward B. Jordan
-------------------
Edward B. Jordan, Vice President and
Chief Financial Officer
________________________________________________________________________________
NEWS RELEASE For further information, contact
Edward B. Jordan at 201-993-3000
DIALOGIC CORPORATION ANNOUNCES SECOND QUARTER UPDATE
PARSIPPANY, N.J. -- July 8, 1996 -- Dialogic Corporation (NASDAQ-DLGC), the
world's leading manufacturer of high performance, standards-based computer
telephony (CT) components, announced today that sales for the second quarter
ended June 30, 1996 are expected to be up approximately 23% versus the second
quarter of 1995, from $40.6 million in 1995 to approximately $50 million in
1996. For the second quarter of 1995, the Company reported earnings of $4.0
million, or $0.25 per share on approximately 16.1 million average shares
outstanding. Based on approximately 16.4 million average shares outstanding,
Dialogic expects to report per share earnings of $0.24 to $0.28 for the second
quarter of 1996 when it announces results later this month. Financial analysts'
estimates have been $0.33 to $0.34 per share for the second quarter of 1996.
These results are lower than such estimates primarily because weaknesses in
international markets offset better-than-expected domestic sales growth.
During the second quarter, the Company experienced a slowing of its
sales growth in international markets, principally in central Europe, where
economic and regulatory issues appear to be impeding the deployment of computer
telephony projects. Disappointing sales from Dialogic's Spectron Microsystems
Division also contributed to the lower-than-expected results.
Commenting on second quarter performance, Howard Bubb, president and CEO
of Dialogic said, "While we are disappointed in the weakness in our
international markets, we are pleased with the strength of our performance on
the domestic front, particularly in the area of large switching and multimedia
systems that use Dialogic's latest high density and high performance voice, fax,
ISDN, voice recognition and text-to-speech technologies. After reviewing the
international situation, we have concluded that the disappointing international
sales represent general market softness which should be reversible once the
economic and regulatory uncertainties are resolved. Our information indicates
that we are continuing to build market share in all key markets and we have not
lost any significant design wins during the quarter."
Mr. Bubb added, "Spectron Microsystems is taking longer than we would
like to reposition; however, we have confidence in the strong acceptance of
their products and the new management team led by Chuck House, who joined us in
December of 1995, and we expect that this operation will improve its performance
once the repositioning has been completed."
Pursuant to the provisions of the Private Securities Litigation Reform Act
of 1995, certain of the statements contained herein are forward looking. Actual
results might differ materially from the Company's forward-looking statements.
Factors that could cause actual results to differ materially from the Company's
forward-looking statements include extended economic and regulatory difficulties
in the Company's international markets, a reduction in the demand for Dialogic
customers' products, competition, and slowing of the overall growth of the
Computer Telephony market.
Dialogic Corporation is the leading manufacturer of high performance,
standards-based computer telephony (CT) components. Computer telephony systems
built with Dialogic products manage more than one third of all telephone,
facsimile, and multi-media calls answered by computers over wireless and wired
networks worldwide. Dialogic products are used in voice, fax, data, voice
recognition, speech synthesis, ISDN networks and call center management CT
applications. The company is headquartered in Parsippany, New Jersey, with
regional headquarters in Tokyo, Japan, and Brussels, Belgium, with sales
engineering offices worldwide. For more information, visit the Dialogic Web site
- -- http://www.dialogic.com.
Trademarks: All names, products and services mentioned are trademarks
or registered trademarks of their respective organizations.
