-----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, IAfxq14Cjw1lTpYHb3HGamIxPrnQXe+8GuzVC6R+GXIFkBSGhLqssSKRDIiYkjEq uyedyRvZ3+zA3iaVDqP0Kg== 0000931763-01-000782.txt : 20010410 0000931763-01-000782.hdr.sgml : 20010410 ACCESSION NUMBER: 0000931763-01-000782 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010404 ITEM INFORMATION: FILED AS OF DATE: 20010404 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOVOSTE CORP /FL/ CENTRAL INDEX KEY: 0001012131 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 592787476 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-20727 FILM NUMBER: 1595282 BUSINESS ADDRESS: STREET 1: 3890 STEVE REYNOLDS BLVD CITY: NORCROSS STATE: GA ZIP: 30093 BUSINESS PHONE: 7707170904 MAIL ADDRESS: STREET 1: 4350 C INTERNATIONAL BLVD CITY: NORCROSS STATE: GA ZIP: 30093 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 Date of Report (Date of earliest event reported) April 4, 2001 ------------- NOVOSTE CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Florida 0-20727 59-2787476 - ------------------------------ ------------- ---------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification) 3890 Steve Reynolds Blvd., Norcross, GA 30093 -------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (770) 717-0904 ------------------ - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Events - --------------------- The Registrant's unaudited results of operations for the quarter ended September 30, 2000 are presented below as previously reported in its Form 10-Q and as restated to reflect the revenue recognition policy applied in the Registrant's audited financial statements for the year ended December 31, 2000 Annual Financial Statements. The results of operations for the quarter and year ended December 31, 2000 are also presented below as previously reported in the Company's earnings release dated January 29, 2001 and as restated in the audited financial statements for the year ended December 31, 2000 to reflect the revenue recognition policies applied. The restated results of operations were included in the Registrant's Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 2, 2001. The Registrant has evaluated the impact of Staff Accounting Bulletin (SAB) 101, Revenue Recognition in Financial Statements, on its revenue recognition policies and has concluded, based on its current understanding of the SEC's ongoing interpretation of SAB 101, that the adoption of SAB 101 in 2000 did not require the Registrant to change its revenue recognition policies in its audited financial statements for the year ended December 31, 2000. The Registrant had previously disclosed and reported in its Form 10-Q for the quarter ended September 30, 2000, that the adoption of SAB 101 would require a change in its revenue recognition policies.
Third Quarter Ended Fourth Quarter Ended Year Ended ---------------------------- --------------------------- --------------------------- September 30 September 30 December 31 December 31 December 31 December 31 ---------------------------- --------------------------- --------------------------- As Previously As As Previously As As Previously As Reported Restated Reported Restated Reported Restated ---------------------------- --------------------------- --------------------------- Net sales and revenue 1,445,527 1,301,771 3,279,912 3,184,117 6,863,487 6,529,581 Cost of sales 977,146 833,390 1,996,614 1,900,819 4,591,508 4,257,602 Gross margin 468,381 468,381 1,283,298 1,283,298 2,271,979 2,271,979 Loss from operations (9,807,332) (9,807,332) (11,033,625) (11,033,625) (36,818,939) (36,818,939) Net loss (8,704,782) (8,704,782) (10,040,616) (10,040,616) (33,073,473) (33,073,473) Net loss per share (0.54) (0.54) (0.63) (0.63) (2.13) (2.13)
The Registrant believes that its adoption of SAB 101 will not have any material effect on the recognition of revenues during the year ending December 31, 2001. 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. Dated: April 4, 2001 NOVOSTE CORPORATION ------------------- (Registrant) By: /S/ EDWIN B. CORDELL, JR. ---------------------------------- Edwin B. Cordell, Jr. Vice President - Finance -----END PRIVACY-ENHANCED MESSAGE-----