-----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, R5ln5KC0bg+dX4mYV1VY6adEl0tSHUlRCOoQ1kI1PoKu/T/N3rDxnE1RZ9up/8Fi qXUMuLKTH9P9zKyUDBXOCQ== 0001104659-08-005289.txt : 20080129 0001104659-08-005289.hdr.sgml : 20080129 20080129091025 ACCESSION NUMBER: 0001104659-08-005289 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080129 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080129 DATE AS OF CHANGE: 20080129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WJ COMMUNICATIONS INC CENTRAL INDEX KEY: 0000105006 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 941402710 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31337 FILM NUMBER: 08556084 BUSINESS ADDRESS: STREET 1: 401 RIVER OAKS PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95134 BUSINESS PHONE: 408-577-6200 MAIL ADDRESS: STREET 1: 401 RIVER OAKS PARKWAY CITY: SAN JOSE STATE: CA ZIP: 95134 FORMER COMPANY: FORMER CONFORMED NAME: WATKINS JOHNSON CO DATE OF NAME CHANGE: 19920703 8-K 1 a08-3944_18k.htm 8-K

 

UNITED STATES

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): January 29, 2008

 

WJ COMMUNICATIONS, INC.

(Exact name of registrant as specified in its charter)

 

Commission file number 000-31337

 

Delaware

 

94-1402710

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)

 

401 River Oaks Parkway, San Jose, California

 

95134

(Address of principal executive offices)

 

(Zip Code)

 

 

 

 

(408) 577-6200

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

£  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

£  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

£  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

£  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 



 

Item 2.02               Results of Operations and Financial Condition.

 

On January 29, 2008, WJ Communications, Inc. (the “Company”) issued a press release updating its preliminary revenue, cash and non-GAAP profitability results for the fourth quarter of 2007. A copy of the press release is attached hereto as Exhibit 99.1 and is being furnished, not filed, under Item 2.02 of this Report on Form 8-K.

 

Item 8.01               Other Events.

 

On January 29, 2008, the Company also announced the re-engaging with a key customer.

 

Item 9.01.              Financial Statements and Exhibits.

 

(d) Exhibits.

 

99.1

 

Press Release dated January 29, 2008 updating the Company’s preliminary revenue, cash and non-GAAP profitability results for the fourth quarter of 2007 and announcing re-engaging with key customer.

 

2



 

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.

 

 

WJ COMMUNICATIONS, INC.

 

 

 

 

By:

/s/  R. Gregory Miller

 

 

R. Gregory Miller

 

 

Chief Financial Officer

 

Dated:  January 29, 2008.

 

3


EX-99.1 2 a08-3944_1ex99d1.htm EX-99.1

Exhibit 99.1

 

News

 

WJ Communications Reports Improved Preliminary Results for the Fourth

Quarter of 2007 And Announces Re-engaging with a Key Customer

 

Expects to Achieve Non-GAAP Profitability

 

SAN JOSE, Calif. — January 29, 2008 — WJ Communications, Inc. (Nasdaq: WJCI), a leading designer and supplier of radio frequency (RF) solutions for the wireless infrastructure and radio frequency identification (RFID) reader markets, today announced an update to its preliminary revenue results for the fourth quarter ended December 31, 2007.

 

The Company now expects revenue to be in the range of $10.5 million to $10.6 million, which is above the previously updated estimate of $10.2 million to $10.5 million. The Company also expects to be profitable on a non-GAAP basis for the third consecutive quarter and to generate $3.5 million in cash during the quarter up from its previous estimate of $3.3 million.  Cash, cash equivalents and short-term investments balance is expected to be approximately $16.7 million as of December 31, 2007.

 

“Our fourth quarter revenue results were above our updated estimate announced earlier this month, and we are expecting to be profitable on a non-GAAP basis for the third consecutive quarter since we closed our wafer manufacturing facility in March 2007,” commented Bruce Diamond, President and Chief Executive Officer of WJ Communications.

 

“I am also pleased to report that our customer, who had delayed qualification of several cost reduced parts during 2007, has awarded WJ a substantial portion of their next procurement, which will allow us to re-engage with this key customer.  We expect to begin shipments to the customer in the second quarter of 2008 at the rate of approximately $400,000 per quarter,” said Diamond.

 

WJ Communications expects to report fourth quarter and year-end 2007 financial results in late February 2008.  Conference call and web cast details will be publicly announced closer to the date of the event.

 

Forward-Looking Statements

 

This release contains a forward-looking statement as to a certain Company action and goal. This forward-looking statement and others made by the Company are not historical facts but rather are based on current expectations and our beliefs. Words such as “may,” “will,” “expects,” “intends,” “plans,” “believes,” “seeks,” “could” and “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. The Company’s actual results may differ materially from these forward-looking statements as a result of a number of factors, including, but not limited to, the Company’s actual performance in the fourth quarter of 2007, fiscal year 2007 and fiscal year 2008, customary period-end closing procedures and year-end audit results, any loss of or reduction in orders from the Company’s re-engaged key customer for any reason, the Company’s actual sales to the re-engaged key customer, that the Company will continue to realize the benefits of its cost savings initiatives, the ability to maintain its listing on the NASDAQ Global Market by regaining compliance with Market Place Rule 4450(a)(5) on or before June

 



 

17, 2008, the results of the Company’s current evaluation of strategic alternatives and the success of any action taken as a result of that evaluation, the future success of our current business model and the risk factors contained in the Company’s Form 10-K for year ended 2006, Form 10-Q, and such other factors as described from time to time in the Company’s filings with the Securities & Exchange Commission, which are available on the SEC Web site at www.sec.gov. Readers of this release are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise the forward-looking statements contained herein to reflect changed events or circumstances after the date of this press release.

 

About WJ Communications

 

WJ Communications, Inc. is a leading provider of radio frequency (RF) solutions serving multiple markets targeting wireless communications, RF identification (RFID), and WiMax. WJ addresses the RF challenges in these multiple markets with its highly reliable amplifiers, mixers, RF integrated circuits (RFICs), RFID reader modules, chipsets, and multi-chip (MCM) modules. For more information visit www.wj.com.

 

All trademarks used, referenced, or implicitly contained herein are used in good faith and highlighted to give proper public recognition to their respective owners

 

# # #

 

Company Contact:

 

Media Contact

 

Investor Contact:

R. Gregory Miller

 

Claudia Lin

 

Ryan Bright

Chief Financial Officer

 

Marketing and Public Relations

 

Shelton Group Investor Relations

WJ Communications

 

WJ Communications

 

For WJ Communications

408-577-6200

 

408-577-6341

 

972-239-5119 ext. 159

gregory.miller@wj.com

 

claudia.lin@wj.com

 

rbright@sheltongroup.com

 


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