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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) August 30, 1999
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P-COM, INC.
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(Exact name of registrant as specified in charter)
Delaware 0-25356 77-0289371
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3175 S. Winchester Boulevard, Campbell, California 95008
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (408) 866-3666
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None
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
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In a press release disseminated on August 30, 1999, the
Registrant issued a press release announcing the appointment of Jim Sobczak as
President and Chief Operating Officer. A copy of the press release is attached
hereto and incorporated herein by reference.
Statements in this report that are forward looking involve known
and unknown risks and uncertainties, which may cause the Registrant's actual
results in future periods to be materially different from any future performance
that may be suggested in this release. Such factors may include, but are not
limited to, reliance upon subcontractors, fluctuations in customer demand and
commitments, both in timing and volume, introduction of new products, commercial
acceptance and viability of new products and expenses associated therewith,
cancellations of orders without penalties, pricing and competition, the
Registrant's ability to have available an appropriate amount of production
capacity in a timely manner, the ability of the Registrant's customers to
finance their purchases of the Registrant's products and/or services, the timing
of new technology and product introductions, the risk of early obsolescence
accounting for adjustments for the Cylink acquisition and the pending
stockholder class action lawsuits. Further, the Registrant operates in an
industry sector where securities values are highly volatile and may be
influenced by economic and other factors beyond the Registrant's control, such
as announcements by competitors and service providers. Reference is made to the
discussion of risk factors detailed in the Company's filings with the Securities
and Exchange Commission, including its reports on Form 10-K and 10-Q.
Item 7. Financial Statement and Exhibits.
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A copy of the Registrant's press release announcing the
appointment of Jim Sobczak as President and Chief Operating Officer is attached
hereto as an exhibit.
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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.
P-COM, INC.
DATE: August 30, 1999 By: /s/ Robert E. Collins
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Name: Robert E. Collins
Title: Chief Financial Officer
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EXHIBIT INDEX
Exhibit
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99.1 Press Release disseminated August 30, 1999
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Company Press Release
P-Com Announces Appointment of Jim Sobczak as President and Chief Operating
Officer
CAMPBELL, Calif.--(BUSINESS WIRE)--Aug. 30, 1999--P-Com, Inc. (Nasdaq:PCMS -
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news) today announced the appointment of Jim Sobczak as President and Chief
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Operating Officer effective September 7, 1999.
Mr. Sobczak comes to this position with a background of over 30 years in
telecommunications, including networking technologies and business strategies.
He has served as a senior marketing executive for Westinghouse and Contel ASC.
In addition, he has extensive end user experience leading the telecommunications
activities for Bank of America and Ford Motor Company.
Mr. Sobczak has also been an adjunct faculty member at the University of
Pittsburgh teaching graduate courses in networking technology and business
strategy, and since 1991 has served as President of Telecommunications Education
and Research Network, Inc., (TERN) a corporation providing education and
research services to universities offering degrees in telecommunications. He has
also consulted with several information technology companies assisting in the
development of business strategies.
Mr. Sobczak is a past president of the International Communications Association.
George P. Roberts, P-Com's Chief Executive Officer and Chairman, commented that
``Jim is an expert in our industry segment and has become very familiar with P-
Com as an active P-Com Board member. We are most fortunate to have Jim join us
in the top operating role. His appointment as President and Chief Operating
Officer further strengthens our Executive Staff and prepares us for growth in
both the point to point and point to multipoint broadband access market.''
Mr. Roberts also announced the resignation of Michael Sophie, President of P-
Com's Wireless Access Group. ``Mike has decided to pursue an opportunity outside
of P-Com that is in close alignment with his career aspirations. We thank Mike
for his contributions to the growth of P-Com these past six years, and we wish
him the greatest success in his new endeavors.''
P-Com, Inc. develops, manufactures, and markets network access systems for the
worldwide wireless telecommunications market. The point-to-point, spread
spectrum, and point-to-multipoint radio links provided by P-Com are designed to
satisfy the network requirements of cellular and personal communications
services, corporate communications, public utilities and local governments. In
addition, P-Com provides comprehensive network services including system
planning, program planning and management, path design, and installation.
Statements in this release that are forward looking involve known and unknown
risks and uncertainties, which may cause the Company's actual results in future
periods to be materially different from any future performance that may be
suggested in this release. Such factors may include, but are not limited to,
reliance upon subcontractors, fluctuations in customer demand and commitments,
both in timing and volume, introduction of new products, commercial acceptance
and viability of new products and expenses associated therewith, cancellations
of orders without penalties, pricing and competition, the Company's ability to
have available an appropriate amount of production capacity in a timely manner,
the ability of the Company's customers to finance their purchases of the
Company's products and/or services, the timing of new technology and product
introductions, the risk of early obsolescence, and the pending stockholder class
action lawsuits. Further, the Company operates in an industry sector where
securities values are highly volatile and may be influenced by economic and
other factors beyond the Company's control, such as announcements by competitors
and service providers. Reference is made to the discussion of risk factors
detailed in the Company's filings with the Securities and Exchange Commission,
including its reports on Form 10-K and 10-Q.
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P-Com, Inc., with world headquarters in Campbell, CA, USA and offices in
Florida, New Jersey, Virginia, the UK, Italy, France, Germany, Poland, Mexico,
Dubai and China, is an ISO 9001 certified company. For additional information,
contact P-Com at:
P-Com, Inc. 3175 S. Winchester Boulevard Campbell, CA 95008 USA TEL: (408) 866-
3666 FAX: (408) 866-3655 www.p-com.com
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Contact:
P-Com
Bob Collins, 408/866-3666 (VP & Chief Financial Officer)
