-----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, UR+xRyXGn81zjrvTdXkbZ04YkFNfV4RufOZi+50oWDmvjAoBs2lX8fqjIEYtnxmj fAsBDPspaRDB73S0KV6x6Q== 0000752431-08-000043.txt : 20080606 0000752431-08-000043.hdr.sgml : 20080606 20080606061536 ACCESSION NUMBER: 0000752431-08-000043 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080605 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080606 DATE AS OF CHANGE: 20080606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NETWORK EQUIPMENT TECHNOLOGIES INC CENTRAL INDEX KEY: 0000752431 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 942904044 STATE OF INCORPORATION: DE FISCAL YEAR END: 0328 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10255 FILM NUMBER: 08884303 BUSINESS ADDRESS: STREET 1: 6900 PASEO PADRE PARKWAY CITY: FREMONT STATE: CA ZIP: 94555-3660 BUSINESS PHONE: 5107137300 MAIL ADDRESS: STREET 1: 6900 PASEO PADRE PARKWAY CITY: FREMONT STATE: CA ZIP: 94555-3660 8-K 1 net20080605form8k.htm Network Equipment Technologies, Inc. Form 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): June 5, 2008


Network Equipment Technologies, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

 

 

 

 

 

Delaware

 

001-10255

 

94-2904044

(State of incorporation)

 

(Commission File Number)

 

(IRS Employer ID No.)


6900 Paseo Padre Parkway, Fremont, California 94555, ph: (510) 713-7300

(Address of principal executive offices, including zip code, and 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 (see General Instruction A.2. below):

 

 

 



Written communications pursuant to Rule 425 under the Securities Act

 

 

 



Soliciting material pursuant to Rule 14a-12 under the Exchange Act

 

 

 



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

 

 

 



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




Item 7.01.  Regulation FD Disclosure

On June 5, 2008, Network Equipment Technologies, Inc. (the “Company”) issued a press release announcing it expects revenue for the first quarter of fiscal 2009 to be below Wall Street expectations, primarily due to a shortfall in revenue from government programs. The Company currently expects revenue for the quarter to be in the range of approximately $16 to $20 million. A copy of the press release is furnished pursuant to Item 7.01 as Exhibit 99.1 to this report, and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934.


Forward-Looking Statements
The foregoing disclosure contains forward-looking statements, relating to possible future operating results, within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements are based on current expectations, forecasts and assumptions that involve risks and uncertainty that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that could affect such results include federal government budget matters and procurement decisions, the volume and timing of orders and revenue, and product development achievements, as well as the factors identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the most recent fiscal year. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.


Item 9.01.  Financial Statements and Exhibits

(d)

Exhibits.

99.1

Press release dated June 5, 2008


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.


Date: June 5, 2008


Network Equipment Technologies, Inc.

By:

/s/ FRANK SLATTERY

Name:

Frank Slattery

Title:

Vice President and General Counsel




 EX-99 2 net20080605ex99.htm Network Equipment Technologies, Inc. Exh 99

Exhibit 99.1

Contact info:

Leigh Salvo

DirectIR, Inc.

510-647-8870

LSalvo@directIR.com



For immediate release

Network Equipment Technologies Expects First Quarter Revenue to Fall Short of Expectations

Fremont, CA, June 5, 2008 – Telecommunications equipment maker Network Equipment Technologies, Inc. (NYSE: NWK), announced today it expects revenue for the first quarter of fiscal 2009 to be below Wall Street expectations, primarily due to a shortfall in revenue from government programs. The Company currently expects revenue for the quarter to be in the range of approximately $16 to $20 million.

“We continue to see many government programs in which we can participate. However, it has become apparent that at least in the near term we won’t receive the volume of orders we had previously expected,” said C. Nicholas Keating, President and CEO.

The Company expects a partial rebound in revenue from the government in later quarters of fiscal 2009, but believes that its government business is likely to be down through the end of the calendar year. As a result, the Company’s annual revenue for fiscal 2009 is likely to be down compared to fiscal 2008.

“We will be cautious with our spending in the current environment. However, we believe that the government market continues to present significant long-term opportunities for us, and we are making investments in next generation technology for new government applications. We are also progressing on our initiatives for enterprise customers,” said Keating.

The Company will report its results for the first quarter in late July or early August.

About Network Equipment Technologies, Inc.

For nearly a quarter of a century, Network Equipment Technologies, Inc. (NET) has provided voice and data communications equipment for multi-service networks requiring high degrees of versatility, interoperability, security and performance. NET's broad family of products are purpose-built for mixed-service, multi-protocol networks; bandwidth-sensitive site communications; high performance, security-sensitive transmissions; and converged communications. The company's NX Series for network exchange solutions and VX Series for voice exchange solutions enable interoperability and integration with existing networks for seamless migration to secure IP-based voice and data communications. In addition, Quintum, a subsidiary of NET, delivers VoIP access solutions that bring the reliability and voice clarity of public telephone networks to Internet telephony.

Visit www.net.com for more information.

Forward Looking Statements

This press release contains forward-looking statements, relating to possible future operating results, within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements are based on current expectations, forecasts and assumptions that involve risks and uncertainty that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Factors that could affect such results include federal government budget matters and procurement decisions, the volume and timing of orders and revenue, and product development achievements, as well as the factors identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the most recent fiscal year. The Company disclaims any intention or obligat ion to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.


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