-----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, WS1LE9qkpvlzm0JU/C9omsH8TswbPh/oHBpSD8dV2N/HRKqhfaOAamzLsb5H8eQP ByvJSuVj4y9RCk3+XU5nhw== 0000950135-97-003031.txt : 19970721 0000950135-97-003031.hdr.sgml : 19970721 ACCESSION NUMBER: 0000950135-97-003031 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970717 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970718 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: FTP SOFTWARE INC CENTRAL INDEX KEY: 0000912548 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 042906463 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22466 FILM NUMBER: 97642391 BUSINESS ADDRESS: STREET 1: 100 BRICKSTONE SQUARE 5TH FL CITY: ANDOVER STATE: MA ZIP: 01810 BUSINESS PHONE: 5086854000 MAIL ADDRESS: STREET 1: 100 BRICKSTONE SQ FIFTH FL CITY: ANDOVER STATE: MA ZIP: 01810 8-K 1 FTP SOFTWARE, INC. 1 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): JULY 17, 1997 FTP SOFTWARE, INC. (Exact name of registrant as specified in its charter) MASSACHUSETTS 0-22466 04-2906463 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 100 BRICKSTONE SQUARE, FIFTH FLOOR ANDOVER, MASSACHUSETTS 01810 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (508) 685-4000 N/A ------------------------------------------------------------- (Former name or former address, if changed since last report) 2 ITEM 5. OTHER EVENTS. On July 17, 1997, FTP Software, Inc. (the "Company") announced the restructuring of its business into three strategic business units, the VIP Network(TM) Applications Business Unit, the IP Technology Business Unit and the Agent/Directory Management Business Unit, including a reduction in the Company's worldwide workforce and a related restructuring charge, as well as certain information relating to the Company's financial results for the quarter ended June 30, 1997, all as more particularly described in the Company's press release dated July 17, 1997, a copy of which is filed as an exhibit to this Report and is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. The Company's press release dated July 17, 1997, filed as Exhibit 1 to this Report. 2 3 SIGNATURE --------- 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. FTP SOFTWARE, INC. Date: July 17, 1997 By: /s/ Douglas F. Flood ------------------------------ Douglas F. Flood Senior Vice President 3 4 EXHIBIT INDEX ------------- EXHIBIT NO. TITLE - ----------- ----- 1 Press release by FTP Software, Inc. dated July 17, 1997 EX-1 2 PRESS RELEASE 1 [LETTERHEAD OF FTP SOFTWARE, INC.] [FTP SOFTWARE LOGO] ================================================================================
Contact: Cheryl L. K. Boland Jill LeBallister Dudka Constance Mazelsky Manager, Investor Relations Manager, Public Relations Public Relations FTP Software, Inc. FTP Software, Inc. Lois Paul & Partners 508-685-4000 ext 6955 508-685-4000 ext 6458 617-238-5700 Internet: cboland@ftp.com jld@ftp.com constance_mazelsky@lpp.com
FTP SOFTWARE, INC. ANNOUNCES FORMATION OF STRATEGIC BUSINESS UNITS ANDOVER, MASS JULY 17, 1997 - FTP Software, Inc. (Nasdaq: FTPS) today announced the restructuring of its business into three strategic business units. The company had announced on June 16, 1997, its intention to realign its business into three strategic business units that address specific market opportunities. The company stated that its strategic business units are as follows: - - The VIP Network(TM) Applications Business Unit--develops and markets desktop and web-based network application solutions including its award-winning 32-bit Network Access Suite applications. - - The IP Technology Business Unit--develops and markets the company's server based connectivity solutions, including its Internet Gateway products, as well as its other IP technology components. - - The Agent/Directory Business Unit--advanced technology business unit developing next generation network administration and management applications based on FTP software's leading edge Java agent and directory technologies. Commenting on the realignment of the company into business units, FTP Software's Chairman and Chief Executive Officer Glenn C. Hazard, said, "These strategic business units allow us to focus our effort and resources in those areas that provide the most benefit to our customers. Each business unit has its unique mission and market niche and is being created from the ground up, based on an economic model that will be matched against its current market opportunity." Mr. Hazard further commented, "To create a path toward a successful future for these three business units and return the company to a more solid financial position, we have taken significant actions to align our resources appropriately." -more- 2 FTP Software Announces Completion of Business Units, page 2/2 The company announced that financial results for the third quarter ending September 30, 1997 will include a pretax charge for the restructuring announced today in the range of $13 to $16 million, or $.38 to $.47 per share. This charge will account for a reduction in the company's worldwide workforce of approximately 38%, consolidation of facilities and a reduction of other associated physical assets, in anticipation of the business units' requirements. The company expects to substantially complete the planned actions associated with this charge by the end of the third quarter. The company also announced that it expects to report second quarter revenue in the range of $17.4 to $17.8 million with a loss from continuing operations before taxes in the range of $13.7 to $14.2 million. The company previously had announced that it would not meet its internal expectations for the second quarter ended June 30, 1997. Final second quarter revenue results will be published on July 23, 1997. The company noted that each of the above forward-looking statements concerning FTP Software's corporate restructuring, the vision for its business units and their potential is subject to change, based on various important factors, including, without limitation, changes in the market and competition. These forward-looking statements are subject to the risk factors identified today and in documents which are available through the SEC. Additional information on potential factors that could affect the company's financial results is included in the company's annual report on Form 10-K and other documents filed with the Securities and Exchange Commission. ABOUT FTP SOFTWARE, INC. FTP Software, Inc. provides manageable and secure infrastructure software products, along with essential applications and services, that allow customers to create VIP Networks. Based on the premise that organizations manage people and their access privileges, the VIP Network enables customers to extend their network beyond traditional boundaries in a secure and manageable manner to encompass employees or associates anywhere, and to build enterprises to enable electronic commerce and virtual workgroups. FTP Software and its subsidiaries have a combined 17 years of leadership in developing and integrating business applications over TCP/IP networks. FTP Software may be contacted at (508) 685-3300 or at http://www.ftp.com. ### FTP Software is a registered trademark and VIP Network is a trademark of FTP Software, Inc. Other trademarks, trade names, and registered trademarks are the property of their respective holders. -----END PRIVACY-ENHANCED MESSAGE-----