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): August 26, 2003
COMPUTER NETWORK TECHNOLOGY CORPORATION
(Exact Name of Registrant as Specified in Charter)
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| Minnesota | | 0-139944 | | 41-1356476 |
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(State or Other
Jurisdiction
of Incorporation) | | (Commission
File Number) | | (I.R.S. Employer
Identification No.) |
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| | 6000 Nathan Lane North, Minneapolis, MN | | 55442 | |
| |
| |
| | (Address of Principal Executive Offices) | | (Zip Code) | |
Registrant’s telephone number, including area code: (763) 268-6000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
TABLE OF CONTENTS
Item 12. Results of Operation and Financial Condition.
The following information is being furnished pursuant to “Item 12. Results of Operations and Financial Condition” of Form 8-K.
On August 26, 2003, Computer Network Technology Corporation issued a press release regarding its financial results for the second quarter of 2003 and certain other information. A copy of the press release is attached hereto as Exhibit 99. The information in this Item 12 and Exhibit 99 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
The attached press release includes pro forma information regarding results from operations, which includes adjustments to amounts calculated under generally accepted accounting principles. The pro-forma measures are not in accordance with, or an alternative for GAAP and may be different from pro forma measures used by other companies. Pro forma results from operations are provided as a complement to results provided in accordance with generally accepted accounting principles.
The adjustments included to arrive at pro forma measures are with respect to the cumulative effect of change in accounting for goodwill, elimination of legal expenses related to potential acquisitions, in-process research and development and amortization of intangibles related to our acquisition of Inrange Technologies, integration charges related to our acquisition of Inrange Technologies, including a write-down of inventory due to the integration of the product strategies for the new combined entity, and the earn-out payable to BI-Tech employees. We have also provided a provision for income taxes calculated at an effective rate of 34%. The pro-forma information is provided to give investors a more complete understanding of the underlying operational results and trends in our performance. Management believes that the pro forma information is used by some investors and equity analysts to make informed decisions because the information may be more useful when analyzing historical results or predicting future results from operations. In addition, management uses the pro-forma information as a basis for planning and forecasting future periods.
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.
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| Date: August 26, 2003 | | COMPUTER NETWORK
TECHNOLOGY CORPORATION |
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| | | By | | /s/ JEFFREY A. BERTELSEN |
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| | | | | Jeffrey A. Bertelsen
Treasurer |
EXHIBIT INDEX
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| EXHIBIT | | DESCRIPTION OF EXHIBIT |
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| 99 | | Press Release dated August 26, 2003.* |
| * | | Such information is deemed “furnished” and not “filed”. |
