<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): January 21, 1999
TranSwitch Corporation
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(Exact name of Registrant as specified in its charter)
Three Enterprise Drive, Shelton, Connecticut
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(Address of principal executive offices)
06484
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(Zip Code)
(203) 929-8810
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Registrant's telephone number, including area code
Delaware 0-25996 06-1236189
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(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
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ITEM 5. Other Events.
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On January 21, 1999, the Company issued a press release, a copy of which is
attached as Exhibit 99.1 to this Current Report on Form 8-K.
ITEM 7. Financial Statements and Exhibits.
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Exhibit No. Exhibits
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99.1 Press Release of the Company dated January 21, 1999.
27 Financial Data Schedule
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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.
TRANSWITCH CORPORATION
January 21, 1999 By /s/ Michael F. Stauff
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Michael F. Stauff
Chief Financial Officer
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<PAGE>
Exhibit Index
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<TABLE>
<CAPTION>
Exhibit No. Description Page No.
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<S> <C> <C>
99.1 Press Release of the Company dated January 21, 1999. 5
27 Financial Data Schedule 9
</TABLE>
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<PAGE>
EXHIBIT 99.1
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TranSwitch Corporation Announces Record Revenues and Profitable Fourth Quarter
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(Shelton, CT) January 21, 1999 -- TranSwitch Corporation (NASDAQ:TXCC) announced
today that it posted record revenues and net income for the fourth quarter and
the year ended December 31, 1998.
Total revenues for the fourth quarter of 1998 were $13,692,000, a 64% increase
over total revenues of $8,334,000 reported for the fourth quarter of 1997. In
addition, the Company reported net income of $2,501,000, or diluted earnings per
share of $0.16, for the fourth quarter of 1998, compared to net income of
$433,000, or diluted earnings per share of $0.03, for the fourth quarter of
1997.
Total revenues for the year ended December 31, 1998 were $44,169,000, an
increase of 63% over the $27,084,000 reported for the year ended December 31,
1997. The Company reported net income of $6,003,000, or diluted earnings per
share of $0.40, for the year ended December 31, 1998, compared to a net loss of
$1,873,000, or a per-share loss of $0.15, for 1997.
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<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 12-MOS
<FISCAL-YEAR-END> DEC-31-1998 DEC-31-1998
<PERIOD-START> OCT-01-1998 JAN-01-1998
<PERIOD-END> DEC-31-1998 DEC-31-1998
<CASH> 27,196 27,196
<SECURITIES> 0 0
<RECEIVABLES> 7,885 7,885
<ALLOWANCES> 261 261
<INVENTORY> 5,476 5,476
<CURRENT-ASSETS> 41,214 41,214
<PP&E> 12,749 12,749
<DEPRECIATION> 7,606 7,606
<TOTAL-ASSETS> 47,809 47,809
<CURRENT-LIABILITIES> 7,455 755
<BONDS> 0 0
0 0
0 0
<COMMON> 14 14
<OTHER-SE> 40,340 40,340
<TOTAL-LIABILITY-AND-EQUITY> 47,809 47,809
<SALES> 13,692 44,169
<TOTAL-REVENUES> 13,692 44,169
<CGS> 5,026 16,645
<TOTAL-COSTS> 6,313 22,268
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 0 0
<INCOME-PRETAX> 2,621 6,287
<INCOME-TAX> 120 284
<INCOME-CONTINUING> 2,501 6,003
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 2,501 6,003
<EPS-PRIMARY> $0.17 $0.43
<EPS-DILUTED> $0.16 $0.40
</TABLE>
