11-K 1 d11k.htm FORM 11-K Form 11-K
Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 


 

FORM 11-K

 


 

ANNUAL REPORT

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

(Mark One):

x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2004

 

OR

 

¨ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from              to             

 

Commission file number 1-5517

 


 

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

 

Scientific-Atlanta Inc. Voluntary Employee

Retirement and Investment Plan

 

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

Scientific-Atlanta, Inc.

5030 Sugarloaf Parkway

Lawrenceville, Georgia 30044

 



Table of Contents

REQUIRED INFORMATION

 

AUDITED FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE

 

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

Years Ended December 31, 2004 and 2003

with Report of Independent Registered Public Accounting Firm


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Audited Financial Statements and Supplemental Schedule

 

Years Ended December 31, 2004 and 2003

 

Contents

 

Report of Independent Registered Public Accounting Firm

   1

Audited Financial Statements

    

Statements of Net Assets Available for Benefits

   2

Statement of Changes in Net Assets Available for Benefits

   3

Notes to Financial Statements

   4

Supplemental Schedule

    

Schedule of Assets (Held at End of Year)

   10


Table of Contents

Report of Independent Registered Public Accounting Firm

 

The Plan Administrator

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

We have audited the accompanying statements of net assets available for benefits of Scientific-Atlanta, Inc. Voluntary Employee Retirement and Investment Plan as of December 31, 2004 and 2003, and the related statement of changes in net assets available for benefits for the year ended December 31, 2004. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2004 and 2003, and the changes in its net assets available for benefits for the year ended December 31, 2004, in conformity with U.S. generally accepted accounting principles.

 

Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2004, is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.

 

/s/ Ernst & Young LLP

Atlanta, Georgia

June 10, 2005

 

1


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Statements of Net Assets Available for Benefits

 

     December 31

     2004

   2003

Assets

             

Investments, at fair value

   $ 296,574,551    $ 256,980,694

Cash

     —        1,004,368

Employer contributions receivable

     2,256,376      2,133,557

Due from brokers for sale of securities

     1,004,542      4,177
    

  

Total assets

     299,835,469      260,122,796

Liabilities

             

Due to brokers for purchases of securities

     —        38,712
    

  

Net assets available for benefits

   $ 299,835,469    $ 260,084,084
    

  

 

See accompanying notes.

 

2


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Statement of Changes in Net Assets Available for Benefits

 

For the year ended December 31, 2004

 

Additions:

        

Dividends and interest

   $ 6,878,628  

Contributions:

        

Participant deferrals

     13,307,668  

Employer

     7,314,510  

Participant rollovers

     1,725,171  

Net appreciation in fair value of investments

     30,581,379  
    


Total additions

     59,807,356  

Deductions:

        

Benefits paid to participants or beneficiaries

     (19,951,051 )

Administrative expenses

     (104,920 )
    


Total deductions

     (20,055,971 )
    


Net increase

     39,751,385  

Net assets available for benefits at beginning of year

     260,084,084  
    


Net assets available for benefits at end of year

   $ 299,835,469  
    


 

See accompanying notes.

 

3


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Notes to Financial Statements

 

December 31, 2004

 

1. Description of the Plan

 

The following description of the Scientific-Atlanta, Inc. Voluntary Employee Retirement and Investment Plan (the Plan) provides only general information. Participants should refer to the Plan document for complete information.

 

General

 

The Plan is a defined contribution plan established by Scientific-Atlanta, Inc. (the Company). The Plan’s assets are held and maintained by Fidelity Management Trust Company (the Trustee). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.

 

Eligibility

 

All employees of the Company are eligible to participate in the Plan if they are at least 18 years of age, except that the following individuals shall not be eligible to participate: (i) persons, including employees, whom the Company classifies as contingent, temporary, or co-op workers because the Company employs them through a third-party company, (ii) any person rendering services to the Company purportedly as an independent contractor or an employee of a company providing services to the Company (even if the individual is determined to be a common-law employee of the Company entitled to credit for vesting or any other purposes under this Plan) before the date the Company actually begins to withhold federal income taxes from his/her pay, (iii) persons to whom the Company did not extend the opportunity of participating in this Plan and who agreed orally or in writing to such nonparticipant status, (iv) employees whose terms and conditions of employment are governed by a collective bargaining agreement which does not provide for their participation in the Plan and with respect to whom retirement benefits were the subject of good faith bargaining, (v) persons deemed to be employees under Internal Revenue Code (IRC) Section 4.14(o), (vi) persons classified as leased employees, (vii) employees of Scientific-Atlanta Canada, Inc. who perform substantially all of their services for the Company outside the United States, and (viii) nonresident aliens within the meaning of IRC Section 7701(b)(1)(B), unless the Company, at its discretion, includes such nonresident aliens on its United States employee payroll. Eligibility for participation begins immediately upon employment, provided the individual meets the age requirement set forth above and does not fall into any of the categories of persons who are excluded from eligibility to participate by the terms of the Plan.

 

4


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Notes to Financial Statements (continued)

 

1. Description of the Plan (continued)

 

Contributions and Vesting

 

Participants may elect to contribute up to 99% of their eligible compensation, as defined by the Plan, subject to limitations imposed by the IRC.

 

The Company matches 100% of the participant’s contribution up to 3% of his or her annual compensation plus 50% of the participant’s contribution between 3% and 6% of the participant’s annual compensation. The Company’s matching contributions are in the form of Company common stock and are made at the end of each quarter. Participants may redirect such Company contributions to any investment option offered by the Plan as soon as the contribution is credited to their accounts. The Company also makes an additional matching contribution after the end of each Plan year for the amount of quarterly matching contributions that would have been made to the Plan if the participant’s contributions had not ceased due to the imposed IRC limits. The total Company matching contributions for a participant will not be greater than 4.5% of the IRC limit on annual compensation. All contributions are made in the form of the Company’s stock.

 

In addition, for each participant who is actively employed by the Company on January 1 of a Plan year and who took at least 80 hours of vacation time in the preceding Plan year, other than participants whose principal place of employment is in California, the Company will make a special profit-sharing contribution. The contribution will be equal to an amount (not less than zero) determined by taking the number of hours of vacation earned by the participant as of December 31 of the preceding Plan year in excess of 160 multiplied by the participant’s hourly rate of pay. The Company contributed $302,777 for such vacation hours for the year ended December 31, 2004.

 

Vesting is immediate for both the participant’s contribution and the Company’s contributions.

 

The Company may also elect to make discretionary profit-sharing contributions, which shall be determined annually by the Company. A participant is eligible for the discretionary contributions if he or she is an active employee of the Company on the last day of the Plan year and has completed a year of service for such Plan year. A participant’s allocable share of the discretionary contribution is based on the ratio of his or her annual compensation to the annual compensation for all eligible participants for the Plan year. Discretionary profit-sharing contributions vest 20% after the completion of three years of service and 20% each year thereafter. The Company did not elect to make a discretionary contribution for the year ended December 31, 2004.

 

5


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Notes to Financial Statements (continued)

 

1. Description of the Plan (continued)

 

Participant Accounts

 

Individual accounts are maintained for each of the Plan’s participants to reflect the participant’s share of the Plan’s income (loss), the Company’s contribution, and the participant’s contribution. Allocations of income (loss) are based on participant account balances, as defined by the Plan.

 

Investment Funds

 

All investment elections are participant-directed. Participants may change their investment elections daily with the exception of the Fidelity Scientific-Atlanta Common Stock Fund, in which participants may only change their investment elections once each month.

 

Distribution of Benefits

 

Upon discontinuation of service due to termination, death, or disability, a participant or his or her beneficiary may elect to receive an amount equal to the value of the participant’s vested interest in his or her account. The form of payment is a lump-sum cash distribution.

 

Participant Loans

 

A participant may borrow a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of his or her vested account balance. Loans are secured by the participant’s account balance and bear interest at a fixed rate over the life of the loan. Repayments of the loans are made in substantially equal payroll deductions amortized over the life of the loan. The loan must be repaid within five years or within ten years for the purchase of a primary residence.

 

Administrative Expenses

 

Certain administrative functions are performed by officers or employees of the Company or its subsidiaries, and they act as the Plan administrator. No such officer or employee receives compensation from the Plan. Administrative expenses, such as the asset management fees, are paid by the Plan.

 

6


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Notes to Financial Statements (continued)

 

1. Description of the Plan (continued)

 

Plan Termination

 

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA and the Plan agreement. If the Plan is terminated, each participant will become 100% vested in their accounts.

 

2. Summary of Significant Accounting Policies

 

Basis of Presentation

 

The accompanying financial statements have been prepared on the accrual basis in accordance with U.S. generally accepted accounting principles.

 

Use of Estimates

 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles require the Plan’s management to make estimates that affect the amounts reported in financial statements and accompanying notes. Actual results could differ from these estimates.

 

Valuation of Investments

 

Investments in mutual funds and common stock are stated at fair value, based on quoted market prices. Participant loans are recorded at the principal amount outstanding plus accrued interest, which approximates fair value.

 

The following table summarizes the net appreciation from investments as determined by quoted market prices for the year ended December 31, 2004.

 

Scientific-Atlanta, Inc. common stock

   $ 18,619,073

Mutual funds

     11,962,306
    

     $ 30,581,379
    

 

7


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Notes to Financial Statements (continued)

 

3. Investments

 

The following table presents the fair values of investments that represent 5% or more of the Plan’s total net assets:

 

     December 31

     2004

   2003

Fidelity Managed Income Portfolio II Fund

   $ 29,360,725    $ 33,013,271

Fidelity Equity Income Fund

     27,439,555      24,142,292

Fidelity Spartan U.S. Equity Index Fund

     27,039,772      24,223,635

Fidelity Magellan Fund

     35,469,984      35,619,087

Scientific-Atlanta, Inc. Common Stock

     87,865,167      79,844,092

Fidelity Intermediate Bond Fund

     —        14,726,567

Fidelity Low Priced Stock Fund

     30,227,545      22,617,019

 

4. Income Tax Status

 

The Plan has received a determination letter from the Internal Revenue Service dated May 9, 2001, stating that the Plan is qualified under Section 401(a) of the IRC and, therefore, the related trust is exempt from taxation. Subsequent to the determination by the Internal Revenue Service, the Plan was amended and restated. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Plan administrator believes the Plan is being operated in compliance with the applicable requirements of the IRC and, therefore, believes that the Plan, as amended and restated, is qualified and the related trust is tax-exempt.

 

5. Party-in-Interest Transactions

 

The Plan held 2,661,774 and 2,924,692 shares of the Company’s common stock on December 31, 2004 and 2003, respectively. The fair value of this stock at December 31, 2004 and 2003, is $87,865,167 and $79,844,092, respectively.

 

The Plan offers investments in mutual funds of the Trustee, which qualify as party-in-interest transactions.

 

8


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

 

Notes to Financial Statements (continued)

 

6. Risk and Uncertainties

 

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

 

9


Table of Contents

Supplemental Schedule


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

EIN: 58-0612397     Plan No.: 002

 

Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

 

December 31, 2004

 

(a)

                   (b)                                    (c)      (e)
    

Identity of Issue, Borrower

Lessor or Similar Party


  

Description of Investment Including Maturity Date,

Rate of Interest, Collateral, Par, or Maturity Value


  

Current

Value


*

  

FIDELITY INVESTMENTS

  

MANAGED INCOME PORTFOLIO II FUND, 29,360,725 SHARES

   $ 29,360,725
         

INTERMEDIATE BOND FUND, 1,242,502 SHARES

     13,071,116
         

EQUITY INCOME FUND, 519,885 SHARES

     27,439,555
         

SPARTAN U.S. EQUITY INDEX FUND, 630,886 SHARES

     27,039,772
         

MAGELLAN FUND, 341,748 SHARES

     35,469,984
         

PURITAN FUND, 481,024 SHARES

     9,115,412
         

LOW-PRICED STOCK FUND, 750,995 SHARES

     30,227,545
         

FIDELITY BLUE CHIP GROWTH, 184,169 SHARES

     7,681,672
         

FIDELITY SMALL CAP STOCK FUND, 96,944 SHARES

     1,760,503
         

FIDELITY FREEDOM INCOME, 16,903 SHARES

     190,492
         

FIDELITY FREEDOM 2000, 16,975 SHARES

     205,057
         

FIDELITY FREEDOM 2010, 145,875 SHARES

     1,986,818
         

FIDELITY FREEDOM 2020, 135,485 SHARES

     1,891,366
         

FIDELITY FREEDOM 2030, 130,913 SHARES

     1,843,259
         

FIDELITY US BOND INDEX, 95,778 SHARES

     1,066,965
         

FIDELITY FREEDOM 2040, 90,655 SHARES

     749,714
         

FIDELITY INT’L GROWTH & INCOME, 103 SHARES

     2,908
         

FIDELITY JAPAN SMALLER COMPANIES, 698 SHARES

     8,781
         

FIDELITY DIVERSIFIED INTERNATIONAL, 745 SHARES

     21,326
         

SPARTAN US EQUITY INDEX, 26 SHARES

     1,110
         

FIDELITY INTER BOND, 609 SHARES

     6,407
         

FIDELITY PURITAN, 113 SHARES

     2,145
         

FIDELITY STRATEGIC INCOME, 482 SHARES

     5,187

 

10


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

EIN: 58-0612397     Plan No.: 002

 

Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

 

December 31, 2004

 

(a)

                   (b)                                    (c)    (e)
    

Identity of Issue, Borrower

Lessor or Similar Party


  

Description of Investment Including Maturity Date,

Rate of Interest, Collateral, Par, or Maturity Value


   Current
Value


         

FIDELITY BLUE CHIP GROWTH, 26 SHARES

   1,100
         

FIDELITY SELECT DEVELOP COMMUNICATIONS, 58 SHARES

   3,052
         

FIDELITY SELECT MEDICAL DELIVERY, 67 SHARES

   3,005
         

FIDELITY SELECT ENERGY SERVICE, 236 SHARES

   10,058
         

FIDELITY VALUE, 40 SHARES

   2,819
         

FIDELITY CASH RESERVES

   89,386
         

SPARTAN INTL INDX, 46,040 SHARES

   1,474,203

*

  

SCIENTIFIC-ATLANTA, INC.

  

COMMON STOCK, 2,661,774 SHARES

   87,865,167
    

MERRILL LYNCH

  

ML SMALL CAP INEX I, 41,996 SHARES

   592,137
    

ARTISAN PARTNERS LIMITED PARTNERSHIP

  

ARTISAN MID CAP INV, 49,267 SHARES

   1,456,342
    

LORD ABBETT &COMPANY

  

LD ABBETT MIDCOVAL, 184,185 SHARES

   4,168,101
    

FRANKLIN TEMPLETON

  

TEMPLETON FOREIGN FUND, 628,258 SHARES

   7,727,573
    

ALLIANCE CAPITAL

  

ALLIANCE BERNSTEIN INTERNAL VALUE ADV, 2,173 SHARES

   35,917
    

ARIEL MUTUAL FUNDS

  

ARIEL FUND, 53 SHARES

   2,779
    

BUFFALO FUNDS

  

BUFFALO BALANCED FUND, 269 SHARES

   2,707
    

GABELLI WESTWOOD

  

GABELLI UTILITIES, 331 SHARES

   2,766
    

OAKMARK FAMILY OF FUNDS

  

OAKMARK EQUITY & INCOME FD, 457 SHARES

   10,742
    

HUSSMAN INVESTMENT TRUST

  

HUSSMAN STRATEGIC GROWTH, 164 SHARES

   2,522
    

INTERNET HOLDERS TRUST

  

THE INTERNET NEW PARADIGM, 136 SHARES

   2,385
    

PIMCO

  

PIMCO VALUE CLASS D, 154 SHARES

   2,728
    

PIMCO

  

PIMCO FOREIGN BOND FUND CLD (UNHEDGED), 270 SHARES

   3,036
    

PIMCO

  

PIMCO COMMODITY REAL RETURN CL D, 173 SHARES

   2,566
    

RS INVESTMENT TRUST

  

RS GLOBAL NATURAL RESOURCES, 1,310 SHARES

   32,383

 

11


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

EIN: 58-0612397     Plan No.: 002

 

Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

 

December 31, 2004

 

(a)

                   (b)                                   (c)    (e)
    

Identity of Issue, Borrower

Lessor or Similar Party


 

Description of Investment Including Maturity Date,

Rate of Interest, Collateral, Par, or Maturity Value


   Current
Value


     STRONG  

STRONG MID CAP DISCIPLINED, 124 SHARES

   2,762
     TOCQUEVILLE TRUST  

TOCQUEVILLE GOLD FUND, 445 SHARES

   14,710
     AU OPTRONICS CORPORATION  

AU OPTRONICS CORP, 800 SHARES

   11,456
     AXM PHARMA INC  

AXM PHARMA INC COM, 1,500 SHARES

   5,070
     ABERDEEN AUSTRALIA INC  

ABERDEEN AUSTRALIA EQUITY FD INC, 200 SHARES

   2,330
     AIRNET COMMUNICATION CORP  

AIRNET COMMUNICATIONS CORP, 100 SHARES

   299
     AKAMAI TECHNOLOGIES INC  

AKAMAI TECH NFS LLC IS A MARKET, 39 SHARES

   508
     ANDREW CORP  

ANDREW CORP, 300 SHARES

   4,089
     ARADIGM CORP  

ARADIGM CORP, 240 SHARES

   415
     ART TECHNOLOGY GROUP INC  

ART TECHNOLOGY GRP INC, 340 SHARES

   510
     AUTOBYTEL.COM  

AUTOBYTEL INC, 100 SHARES

   604
     BRISTOL-MYERS SQUIBB  

BRISTOL-MYERS SQUIBB NFS LLC IS A, 504 SHARES

   12,916
     CENTRAL FUND OF CANADA LTD  

CENTRAL FD CDA CL A, 2,000 SHARES

   10,940
     CHARTER COMMUNICATIONS, INC  

CHARTER COMM INC DEL CL A, 6,700 SHARES

   15,008
     CISCO SYSTEMS, INC  

CISCO SYS INC NFS LLC IS A MARKET, 100 SHARES

   1,932
     BELLSOUTH  

CORTS TR II BELLSOUTH DEBS CORP, 100 SHARES

   2,590
     DOUBLECLICK, INC  

DOUBLECLICK INC NFS LLC IS A MARKET, 700 SHARES

   5,446
     DUKE ENERGY CORP  

DUKE ENERGY CORP. FORMERLY DUKE POWER, 478 SHARES

   12,095
     EBAY, INC  

EBAY INC NFS LLC IS A MARKET, 50 SHARES

   5,817
     EMAGIN CORP  

EMAGIN CORP, 4,400 SHARES

   5,236
     ERESEARCH TECHNOLOGY INC  

ERESEARCH TECHNOLOGY INC, 90 SHARES

   1,427
     ESCALON MEDICAL CORP  

ESCALON MEDICAL CORP, 300 SHARES

   2,580

 

12


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

EIN: 58-0612397     Plan No.: 002

 

Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

 

December 31, 2004

 

(a)

                   (b)                                   (c)    (e)
    

Identity of Issue, Borrower

Lessor or Similar Party


 

Description of Investment Including Maturity Date,

Rate of Interest, Collateral, Par, or Maturity Value


   Current
Value


     FEI COMPANY  

FEI COMPANY NFS LLC IS A MARKET, 100 SHARES

   2,100
     FARA TECHNOLOGIES, INC.  

FARO TECHNOLOGIES INC, 25 SHARES

   780
     FLAHERTY & CRUMRINE  

FLAHERTY & CRUMRINE /CLAYMORE PFD SECS, 308 SHARES

   8,005
     FLAHERTY & CRUMRINE  

FLAHERTY CRUMINE/ CLAYMORE TOTAL, 103 SHARES

   2,565
     FLAMEL TECHNOLOGIES S.A.  

FLAMEL TECH SA ADR ISIN #US3384881096, 96 SHARES

   1,871
     FORDING CDN COAL  

FORDING CDN COAL TR UNIT, 8 SHARES

   617
     FOREST LAB CL A  

FOREST LABORATORIES INC, 100 SHARES

   4,486
     FORMFACTOR INC.  

FORMFACTOR INC, 88 SHARES

   2,388
     GENERAL ELECTRIC CO  

GENERAL ELECTRIC CO NFS IS A SPECIALIST, 100 SHARES

   3,650
     HARMONY GOLD MINING CO  

HARMONY GOLD MINING CO LTD SPON ADR, 1,000 SHARES

   9,270
     HASBRO INC.  

HASBRO INC, 2,000 SHARES

   38,760
     INTEL CORPORATION  

INTEL CORP NFS LLC IS A MARKET, 101 SHARES

   2,351
     INTERNATIONAL BUSINESS
MACHINES (IBM)
 

INTL BUSINESS MACH NFS IS A SPECIALIST, 50 SHARES

   4,959
     JP MORGAN CHASE & CO  

J P MORGAN CHASE & CO, 255 SHARES

   9,931
     JAMES RIVER COAL
COMPANY NEW
 

JAMES RIV COAL CO COM NEW, 12 SHARES

   508
     JOHNSON & JOHNSON  

JOHNSON & JOHNSON NFS IS A SPECIALIST, 188 SHARES

   11,905
     LANNETT INC  

LANNETT INC, 200 SHARES

   1,970
     LUCENT TECHNOLOGIES  

LUCENT TECH INC NFS IS A SPECIALIST, 480 SHARES

   1,805
     LUMINA CORP  

LUMINA COPPER CORP ISIN #CA55025R1055., 1,000 SHARES

   4,800
     MEDTRONIC INC  

MEDTRONIC INC NFS IS A SPECIALIST, 100 SHARES

   4,991
     MICROSOFT CORP  

MICROSOFT CORP NFS LLC IS A MARKET, 229 SHARES

   6,107
     MICRONETIC INC.  

MICRONETICS WIRELESS INC, 270 SHARES

   2,214

 

13


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

EIN: 58-0612397     Plan No.: 002

 

Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

 

December 31, 2004

 

(a)

                   (b)                                   (c)    (e)
    

Identity of Issue, Borrower

Lessor or Similar Party


 

Description of Investment Including Maturity Date,

Rate of Interest, Collateral, Par, or Maturity Value


   Current
Value


     MORGAN STANLEY  

MORGAN STANLEY INDIA INVT FD INC, 405 SHARES

   12,551
     NANOMETRICS INC  

NANOMETRICS INC, 113 SHARES

   1,821
     NASDAQ 100 INDEX TIERS  

NASDAQ 100 TR UNIT SER, 50 SHARES

   2,015
     NEWMONT MNG CORP  

NEWMONT MNG CORP NFS IS A SPECIALIST, 252 SHARES

   11,168
     NORTEL NETWORKS CP HOLDING  

NORTEL NETWORKS CORP NEW HOLDING CO, 5,575 SHARES

   19,345
     NORTHERN ORION RES INC  

NORTHERN ORION RES INC COM, 1000 SHARES

   2,910
     NOVAGOOD RESOURCES, INC  

NOVAGOLD RESOURCES, 1,200 SHARES

   9,300
     NUVEEN PFD & CONV INCOME  

NUVEEN PFD & CONV INCOME FD 2 COM SHS, 104 SHARES

   1,438
     OMNIVISION TECHNOLOGIES  

OMNIVISION TECHNOLOGIES INC, 1,000 SHARES

   18,350
     PACIFIC SUNWEAR CALIF INC.  

PACIFIC SUNWEAR CALIF INC, 2,000 SHARES

   44,520
     PINE VALLEY MINING CORP  

PINE VALLEY MINING CORP, 70 SHARES

   396
     PIONEER NATURAL RESOURCES
EXPLORATION
 

PIONEER NATURAL RESOURCES CO, 18 SHARES

   634
     PIXAR INC.  

PIXAR INC, 25 SHARES

   2,140
     PRIDE INTL INC  

PRIDE INTL INC DEL, 33 SHARES

   678
     SONUS NETWORKS INC  

SONUS NETWORKS INC NFS LLC IS A MARKET, 90 SHARES

   516
     STRYKER CORP NFS LLS  

STRYKER CORP NFS LLC IS A, 104 SHARES

   5,018
     SUN MICROSYSTEMS  

SUN MICROSYSTEMS INC NFS LLC IS A MARKET, 1,800 SHARES

   9,702
     SUNGARD DATA SYSTEMS  

SUNGARD DATA SYS INC, 1,700 SHARES

   48,161
     TEXAS INSTRUMENTS INC.  

TEXAS INSTRUMENTS INC, 100 SHARES

   2,469
     VI GROUP PI ADR  

II VI INC, 290 SHARES

   12,322
     VEECO INSTRUMENTS INC  

VEECO INSTRUMENTS INC, 70 SHARES

   1,475
     WACHOVIA CORP  

WACHOVIA CORP 2ND NEW, 345 SHARES

   18,157

 

14


Table of Contents

Scientific-Atlanta, Inc.

Voluntary Employee Retirement and Investment Plan

EIN: 58-0612397     Plan No.: 002

 

Schedule H, Line 4i

Schedule of Assets (Held at End of Year)

 

December 31, 2004

 

(a)

                   (b)                                   (c)      (e)
    

Identity of Issue, Borrower

Lessor or Similar Party


 

Description of Investment Including Maturity Date,

Rate of Interest, Collateral, Par, or Maturity Value


  

Current

Value


     WAL-MART STORES INC  

WAL-MART STORES INC NFS IS A SPECIALIST, 169 SHARES

     8,927
     WASHINGTON MUTUAL INC  

WASHINGTON MUTUAL INC, 230 SHARES

     9,709
     FORD  

CORTS-FORD 7.40% PFD DUE 11/01/2046, 100 SHARES

     2,545
     FIRST UNION  

CORTS TR II FIRST UN CAP I CORP BKD TR, 100 SHARES

     2,690
     GENERAL MOTORS  

GENERAL MOTORS PFD 7.375%, 100 SHARES

     2,526
     TOMMY HILFIGER USA INC  

TOMMY HILFIGER USA INC PFD, 200 SHARES

     5,120
     PHOENIX COS  

PHOENIX COS INC NEW QUARTERLY INT BD, 100 SHARES

     2,556
     DAIMLER-CHRYSLER  

PPLUS TR SER VAL 1 TR CTF CL, 100 SHARES

     2,650
     BELLSOUTH  

SATURNS AON CAP TR SER A 2002 1 TR UNIT, 100 SHARES

     2,536
     AGREE REALTY CORP  

AGREE RLTY CORP, 290 SHARES

     9,189
     ANNALY MORTGAGE
MANAGEMENT INC.
 

ANNALY MORTGAGE MANAGEMENT INC, 673 SHARES

     13,194
     EQUITY RESIDENTIAL
PROPERTIES
 

EQUITY RESIDENTIAL PROPERTIES, 100 SHARES

     3,618

*

   PARTICIPANT LOANS  

INTEREST RATES RANGE 5% TO 5.75%

     3,398,147
             

              $ 296,574,551
             


* Indicates a party-in-interest to the Plan

 

Note: Column (d) has not been presented, as that information is not required.

 

15


Table of Contents

SIGNATURES

 

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Scientific-Atlanta, Inc. Voluntary Employee

Retirement and Investment Plan and Trust

By:   Scientific-Atlanta, Inc.
Employee Benefit Committee
By:  

/s/ Brian C. Koenig


Name:   Brian C. Koenig
Title:   Senior Vice President, Human Resources

 

Date: June 27, 2005


Table of Contents

Exhibit Index

 

23.1    Consent of Ernst & Young LLP