-----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, UTffwf+mcPPyM9xGZJOwvuA7LAgTUyYMoHUxEbemv7QWaTiQvKuE6Dr8IP/Oxw5Z mkgBYdXKAliB7ohMF/XZsA== 0000950168-99-001650.txt : 19990624 0000950168-99-001650.hdr.sgml : 19990624 ACCESSION NUMBER: 0000950168-99-001650 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990519 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990525 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GLENAYRE TECHNOLOGIES INC CENTRAL INDEX KEY: 0000808918 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 980085742 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-15761 FILM NUMBER: 99633662 BUSINESS ADDRESS: STREET 1: 5935 CARNEGIE BOULEVARD CITY: CHARLOTTE STATE: NC ZIP: 28209 BUSINESS PHONE: 7045530038 FORMER COMPANY: FORMER CONFORMED NAME: N W GROUP INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NU WEST GROUP INC DATE OF NAME CHANGE: 19880221 FORMER COMPANY: FORMER CONFORMED NAME: NU WEST GROUP LTD DATE OF NAME CHANGE: 19871126 8-K 1 GLENAYRE TECHNOLOGIES, INC 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) May 19, 1999 GLENAYRE TECHNOLOGIES, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 0-15761 98-0085742 - -------- ------- ---------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.)
5935 Carnegie Boulevard, Charlotte, North Carolina 28209 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (704) 553-0038 ---------------------------- Not applicable - ------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Page 1 of 4 Pages ITEM 5. OTHER EVENTS. The Registrant announced that it holds approximately $49 million in receivables from CONXUS Communications, Inc. which filed for Chapter 11 Bankruptcy on May 18, 1999. The Registrant's News Release is filed herewith as Exhibit 99 to this Report. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits 99. Registrant's News Release dated May 19, 1999. 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 thereunto duly authorized. GLENAYRE TECHNOLOGIES, INC. By s/Billy C. Layton ---------------------- Billy C. Layton Vice President Dated: May 24, 1999 Page 2 of 4 Pages SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. EXHIBITS FORM 8-K CURRENT REPORT Date of Report Commission File Number May 19, 1999 0-15761 GLENAYRE TECHNOLOGIES, INC. EXHIBIT INDEX Exhibit No. Exhibit Description - ----------- ------------------- 99 Glenayre Technologies, Inc. News Release dated May 19, 1999. Page 3 of 4 Pages EX-99 2 EXHIBIT 99 EXHIBIT 99 CORPORATE HEADQUARTERS (Glenayre Logo appears here) 5935 Carnegie Boulevard Charlotte, NC 28209 USA tel 704 553 0038 url www.glenayre.com NEWS RELEASE Contact: Mark Smalley, Glenayre mark.smalley@glenayre.com 704 553 0038 Glenayre Confirms CONXUS Communications Bankruptcy Charlotte, N.C., May 19, 1999 - Glenayre Technologies Inc. (NASDAQ: GEMS) confirmed today that it holds approximately $49 million in receivables from CONXUS Communications, which filed for Chapter 11 Bankruptcy yesterday. Glenayre previously acknowledged this issue in its March 31, 1999, earnings release. In that release, the company reported that a customer, which is now identified as CONXUS, for whom it had provided approximately $49 million in financing might be in financial difficulties. The company stated that the customer was in weak financial condition due to continued operating losses, and was dependent on continued financial support from its vendors and financial institutions and its ability to secure other capital monies. Glenayre also reported that an estimate of a possible range of the loss on the receivables from this customer could not be determined at that time. The company also indicated that a change in the estimate of the collectability of the receivables from this customer could occur in the near term, with a significant impact on Glenayre's results of operations in the quarter in which the change is recorded. Glenayre has not yet determined the extent to which the bankruptcy filing by CONXUS will change the company's estimate of the collectibility of its receivables. For over 30 years, Glenayre Technologies Inc. has been developing and providing leading edge personal telecommunication systems, including products for paging, digital and cellular networks. With over 2,200 employees and with products installed in 100 countries, Glenayre's net sales exceeded $399 million in 1998. Additional information about Glenayre is available on the company's Web site at: http://www.glenayre.com. # # # Page 4 of 4 Pages -----END PRIVACY-ENHANCED MESSAGE-----