-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Tzlx/CUVGHaKxwesEjOlV08VnT2WcnfpWWjk7PbkBCtbb47Wt/lEGD7LXFtXBo+a u611ukkUN+gAkYxWEkCtLg== /in/edgar/work/0000950005-00-001087/0000950005-00-001087.txt : 20001110 0000950005-00-001087.hdr.sgml : 20001110 ACCESSION NUMBER: 0000950005-00-001087 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001106 ITEM INFORMATION: FILED AS OF DATE: 20001109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CYLINK CORP /CA/ CENTRAL INDEX KEY: 0001005230 STANDARD INDUSTRIAL CLASSIFICATION: [3577 ] IRS NUMBER: 953891600 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-27742 FILM NUMBER: 756249 BUSINESS ADDRESS: STREET 1: 910 HERMOSA COURT CITY: SUNNYVALE STATE: CA ZIP: 94086-4103 BUSINESS PHONE: 4087355822 MAIL ADDRESS: STREET 1: 910 HERMOSA CT CITY: SUNNYVALE STATE: CA ZIP: 94086-4103 8-K 1 0001.txt FORM 8-K 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 November 6, 2000 Date of Report (Date of earliest event reported) CYLINK CORPORATION California 0-27742 95-3891600 (State or other (Commission File Number) (I.R.S. Employer jurisdiction of Identification No.) incorporation) 3131 Jay Street Santa Clara, California 95054 (Address of principal executive offices) (408) 855-6000 (Registrant's telephone number, including area code) Item 5. OTHER EVENTS On October 31, 2000, Cylink Corporation ("Cylink") announced that it is reducing its workforce by approximately 12% as part of its program to bring costs into line with near-term revenue expectations. Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CYLINK CORPORATION /s/ Christopher Chillingworth -------------------------------------- Christopher Chillingworth Acting Chief Financial Officer Date: November 6, 2000 CYLINK CORPORATION Current Report on Form 8-K INDEX TO EXHIBITS Exhibit No. Description - ----------- ----------- 5.1 Press Release dated October 31, 2000. -2- EX-5.1 2 0002.txt PRESS RELEASE DATED OCTOBER 31, 2000. Cylink Reduces Workforce as It Implements Cost Reduction Program SANTA CLARA, Calif.--(BUSINESS WIRE)--Oct. 31, 2000--Cylink Corporation (Nasdaq:CYLK - news) today announced that it is reducing its workforce by approximately 12% as part of its program to bring costs into line with near-term revenue expectations. The personnel reduction together with reduced infrastructure costs and other discretionary operating expenses is expected to reduce total operating expenses by approximately 17% in the first quarter of 2001. "These changes will reduce our operating expenses below the level we had at the beginning of the year," said William P. Crowell, president and chief executive officer. "As we discussed during our quarterly results conference call on October 19th, this reduction in operating expenses is targeted to achieve a self-sustaining business model while we continue to focus our energies on increasing our products' market penetration." About Cylink Corporation Cylink Corporation develops, markets and supports a comprehensive family of secure e-business solutions. Founded in 1983, the Company was the first created to market security solutions that protect communications with public key cryptography. Cylink and its wholly owned subsidiaries serve Fortune 500 companies, multinational financial institutions, and government agencies worldwide. For more information, visit the Company's web site at www.cylink.com. This release includes the forward-looking statement that Cylink's cost reductions are targeted at achieving a self-sustaining business model. This forward-looking statement involves risks and uncertainties, and actual results could be materially different. Factors that could cause actual results to differ include unexpected delays in market acceptance of Cylink's products, inability to achieve any of the anticipated cost reductions, disruption in Cylink's sales and operations caused by its reduction in work force, introduction of new technologies and other risk factors listed from time to time in the company's SEC reports, including but not limited to the report on Form 10-K for the year ended December 31, 1999, and its reports on Forms 8-K, 10-Q and the Annual Report to Shareholders. -----END PRIVACY-ENHANCED MESSAGE-----