UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) August 8, 2005
VYYO INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware | 000-30189 | 94-3241270 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
4015 Miranda Avenue, First Floor, Palo Alto, California | 94304 | |
(Address of principal executive offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code (650) 319-4000
N/A
(Former Name or Former Address, if Changed Since Last Report)
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 (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.02. Results of Operations and Financial Condition.
On August 11, 2005, Vyyo Inc. (the “Registrant”) issued a press release announcing its financial results for its second quarter ended June 30, 2005. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein in its entirety by reference.
The information in this Current Report on Form 8-K and in the accompanying exhibit is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information in this Current Report on Form 8-K and in the accompanying exhibit shall not be incorporated by reference into any filing of the Registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 2.05. Costs Associated with Exit or Disposal Activities.
On August 8, 2005, the Registrant’s management began the implementation of a cost reduction program. The Registrant reviewed the size and composition of its workforce and made adjustments after evaluating a variety of factors. In connection with this cost reduction program, the Registrant will reduce its workforce by approximately 16% (when compared to the workforce levels as of June 30, 2005) in the third quarter of 2005. The Registrant expects to record approximately $0.3 million in a one-time cash severance payment and related expenses. This cost reduction does not require the termination of any contractual obligations or require the Registrant to incur other material associated costs.
Item 9.01. Exhibits.
(c)
Exhibit Number | Description of Exhibit | |
99.1 | Press release of Vyyo Inc. dated August 11, 2005, furnished in accordance with Item 2.02 of this Current Report on Form 8-K. |
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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.
VYYO INC. | ||||
Date: August 11, 2005 | By: | /s/ Arik Levi | ||
Arik Levi | ||||
Chief Financial Officer |
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EXHIBIT INDEX
Exhibit Number | Description of Exhibit | |
99.1 | Press release of Vyyo Inc. dated August 11, 2005, furnished in accordance with Item 2.02 of this Current Report on Form 8-K. |
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