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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 Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 18, 1998
Hybrid Networks, Inc.
(Exact name of registrant as specified in this charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-23289 77-02520931
(Commission File Number) (I.R.S. Employer Identification Number)
6409 Guadalupe Mines Road, San Jose, CA 95120
(Address of principal executive offices) (Zip Code)
(408) 323-6250
(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
The following press release was issued on June 18, 1998:
COOPERS & LYBRAND NOTIFIES HYBRID NETWORKS THAT AUDITED
FINANCIAL STATEMENTS SHOULD NO LONGER BE RELIED UPON
Thursday, June 18, 1998
SAN JOSE, CALIFORNIA - Hybrid Networks, Inc. (NASDAQ:HYBR), today
announced that Coopers & Lybrand, the Company's independent accountants, have
notified the Company that its reports with respect to the financial
statements of the Company as of December 31, 1997 and for the year then
ended, and as of September 30, 1997 and for the nine months then ended,
should no longer be relied upon and that Coopers & Lybrand's consent included
with the Company's Registration Statement on Form S-4 filed with the
Securities and Exchange Commission on May 7, 1998 in connection with the
pending acquisition by the Company of Pacific Monolithics, Inc., was being
withdrawn.
The previously announced review of the Company's financial
statements is continuing. Consequently, until the review is finished, the
Company is not in a position to indicate whether the previously announced
results for prior periods would be changed. Further the Company is not able
to indicate what impact the continuing review of the Company's financial
statements and the withdrawal of Coopers & Lybrand's consent may have on the
pending merger of the Company and Pacific Monolithics, Inc.
HYBRID NETWORKS, INC., BASED IN SAN JOSE, CA, IS A BROADBAND ACCESS
EQUIPMENT COMPANY THAT DESIGNS, DEVELOPS, MANUFACTURES AND MARKETS CABLE AND
WIRELESS SYSTEMS THAT PROVIDE HIGH SPEED ACCESS TO THE INTERNET AND CORPORATE
INTRANETS FOR BOTH BUSINESSES AND CONSUMERS. HYBRID'S CUSTOMERS INCLUDE
CABLE OPERATORS, BROADBAND WIRELESS SYSTEM OPERATORS, INTERNET SERVICE
PROVIDERS, RESELLERS AND OTHER BUSINESSES.
CERTAIN STATEMENTS MADE IN THIS PRESS RELEASE WITH RESPECT TO THE
COMPANY ARE FORWARD LOOKING STATEMENTS AND INVOLVE UNCERTAINTIES AND RISKS.
THE RESULTS OF THE COMPANY'S ACTUAL PERFORMANCE COULD DIFFER MATERIALLY FROM
SUCH FORWARD LOOKING STATEMENTS.
FOR MORE INFORMATION SEE THE HYBRID NETWORKS WEB SITE AT HTTP://WWW.HYBRID.COM
OR CALL INVESTOR RELATIONS AT (408) 323-6295.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this amendment to report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Dated: June 19, 1998 Hybrid Networks, Inc.
By: /s/ Carl S. Ledbetter
______________________________
Carl S. Ledbetter
Chairman, President and
Chief Executive Officer
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