-----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, SFFJihM5gqAz/6fEfde5gZTOnScvWavecio+vJFIdcq527OWkV5igcRdzOyYCyT8 DeI5rofB9c5N7PgrCsuAnA== 0001104659-04-030041.txt : 20041008 0001104659-04-030041.hdr.sgml : 20041008 20041008063515 ACCESSION NUMBER: 0001104659-04-030041 CONFORMED SUBMISSION TYPE: 8-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041008 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20041008 DATE AS OF CHANGE: 20041008 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TUT SYSTEMS INC CENTRAL INDEX KEY: 0000878436 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 942958543 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-25291 FILM NUMBER: 041071154 BUSINESS ADDRESS: STREET 1: 6000 SW MEADOWS RD, SUITE #200 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 BUSINESS PHONE: 503-594-1400 MAIL ADDRESS: STREET 1: 6000 SW MEADOWS RD, SUITE #200 CITY: LAKE OSWEGO STATE: OR ZIP: 97035 FORMER COMPANY: FORMER CONFORMED NAME: TUTANKHAMON ELECTRONICS INC DATE OF NAME CHANGE: 19940308 8-K/A 1 a04-11393_18ka.htm 8-K/A

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K/A

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

Date of Report (date of earliest event reported):  October 8, 2004

 

 

TUT SYSTEMS, INC.

(Exact name of Registrant as specified in its charter)

 

Delaware

 

000-25291

 

94-2958543

(State or other jurisdiction of
incorporation or organization)

 

(Commission
File Number)

 

(I.R.S. Employer
Identification Number)

 

6000 SW Meadows Drive, Suite 200
Lake Oswego, Oregon 97035

(Address of principal executive offices) (Zip Code)

 

(971) 217-0400

(Registrant’s telephone number, including area code)

 

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

 

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

 

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

 

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

 

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

 

 


 

Item 7.01.  Regulation FD Disclosure

 

The information contained in Item 7.01 of this Current Report is being filed pursuant to “Item 7.01. Regulation FD Disclosure.”

 

This Current Report amends Registrant’s Current Report originally filed on September 28, 2004.

 

Beginning on September 28, 2004, the Registrant will make a series of presentations in which it discloses its long-term target operating model metrics, metrics that the Registrant indicates that it would like to achieve beginning in fiscal 2006 or soon thereafter.  The presentation slide that discloses these long term metrics, attached hereto as Exhibit 99.1, is being filed on this Form 8-K.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

October 8, 2004

By:

/s/    Randall K. Gausman

 

 

Randall K. Gausman,

 

 

Vice-President, Finance and Administration, Chief Financial Officer and Secretary (Principal Financial and Accounting Officer and Duly Authorized Officer)

 

2


 

Index to Exhibits

 

Exhibit

 

Description

 

 

 

99.1

 

Presentation slide of Tut Systems, Inc. to be used beginning on September 28, 2004.

 

3

 EX-99.1 2 a04-11393_1ex99d1.htm EX-99.1

Exhibit 99.1

 

Operating Model

 

 

Long Term
Target

 

 

 

 

Revenue

100%

 

Gross Margin (1)

40 - 45%

 

Operating Expenses
Sales & Marketing(2)

15 - 17%

 

Research & Development(2)

11 - 13%

 

General & Administrative(2)

5 - 6%

 

Amortization (3)

 

 

Operating Income

6 - 12%

 

 

The intent of this presentation is to illustrate a future target for expense categories as a percentage of total revenue.

 

Significant assumptions to the operating model:

 

(1)  Gross margins are assumed to range between 40% to 45% as the result of higher expected total revenues and higher expected average selling prices associated with new product introductions.

 

(2)  Operating expenses are assumed to decrease as a percentage of revenue.  Based on assumed increases in volume and average selling prices, revenue is assumed to increase at a higher rate relative to operating expenses.  In addition, the Company assumes that it will manage its operating expenses to meet its long term operating expense targets.

 

(3)  The Company assumes it will not acquire any additional amortizable assets.  Amortization expense associated with existing assets is assumed to be a negligible percentage of revenue.

 

 

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