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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)of
The Securities Act of 1934
Date of Report (Date of earliest event reported) May 6, 1998
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Natural MicroSystems Corporation
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(Exact name of registrant as specified in its charter)
Delaware 0-23282 04-2814586
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification Number)
100 Crossing Boulevard, Framingham, MA 01702
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(Address of principal executive offices) (Zip Code)
(508) 620-9300
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(Registrant's telephone number, including area code)
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ITEM 5 OTHER EVENTS
The Company's Press Release, Dated May 6, 1998, is incorporated herein by
reference and filed as an exhibit to this Current Report on Form 8-K.
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
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Exhibits
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Exhibit No. 99.1 Press Release dated May 6, 1998
2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Natural MicroSystems Corporation
By /s/ John F. Kennedy
Dated: May 6, 1998 --------------------------
John F. Kennedy
Chief Financial Officer
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PRESS RELEASE
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Contact: John Kennedy Chris Ward
V.P. Finance and CFO Dir., Marketing Communications
Ph: +1-508-271-1329 Ph: +1-508-271-1243
[email protected] [email protected]
NATURAL MICROSYSTEMS TO TAKE CHARGE FOR
UNCOLLECTABLE RECEIVABLES
FRAMINGHAM, MASS. MAY 6, 1998 -- Natural MicroSystems(TM), the technology leader
in Open Telecommunications(TM), today announced that it is taking a charge of
$2.5 million for uncollectable receivables and associated costs. Atlas
Telecommunications, a customer, has ceased business operations and as a result
Natural MicroSystems may be unable to collect in full amounts owed to the
Company. The Company will vigorously pursue the full recovery of all amounts
owed, however, at this time, the amount to be recovered is indeterminable. As
the Company's 10Q for the quarter ended March 31, 1998 has not been filed, the
Company has determined to include the charge in its Q1 financial statements. Net
income and earnings per diluted share for the first quarter of 1998, including
this charge, are $504,000 and $0.04, respectively.
"Atlas Telecommunications and affiliates had accounted for revenues of
approximately $2.5 and $3.8 million during 1996 and 1997 respectively, and no
revenues from Atlas were recognized in 1998," said John Kennedy, chief
financial officer of Natural MicroSystems.
ABOUT NATURAL MICROSYSTEMS
Natural MicroSystems (NASDAQ: NMSS), based in Framingham, Mass., is the
technology leader in Open Telecommunications, providing hardware and software
technologies for developers of high-value telecommunications solutions. The
Company's state-of-the-art technology enables a growing international network of
OEMs, VARs, systems integrators and service providers to reduce time to market,
leverage development resources, and offer truly global communications products.
Natural MicroSystems products are installed in more than 40 countries worldwide.
Founded in 1983, Natural MicroSystems developed Watson(R), the first product to
utilize DSP technology in PC-based telephony products, and has been a leader in
the creation of MVIP and H.100, the industry standards for interoperability in
PC-based telephony products. More information on the company is available at
http://www.nmss.com.
(MORE)
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Statements expressing the beliefs and expectations of management regarding
future performance are forward-looking and involve risks and uncertainties
including, but not limited to, quarterly fluctuations in results and other
risks. These risks are detailed from time to time in the Company's filings with
the Securities and Exchange Commission, including the Company's form 10-K for
the year ended December 31, 1997. Actual results may differ materially from
management expectations.
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Natural MicroSystems and Open Telecommunications are trademarks of Natural
MicroSystems Corp. Alliance Generation and Watson are registered trademarks of
Natural MicroSystems Corp. MVIP is a trademark of GO-MVIP, Inc. All other
product or corporate references are trademarks or registered trademarks of their
respective companies.
