SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): September 17, 2003
Symbol Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-9802 11-2308681
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(State or other (Commission File (IRS Employer
Jurisdiction of Number) Identification No.)
Incorporation)
One Symbol Plaza
Holtsville, New York 11742
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(Address of principal (Zip Code)
executive offices)
Registrant's telephone number, including
area code: (631) 738-2400
Former name or former address, if changed
since last report: Not Applicable
ITEM 5. OTHER EVENTS.
The following exhibit is included herein with respect to
Telxon Corporation, a wholly owned subsidiary of Symbol
Technologies, Inc. (the "Registrant"):
Exhibit 99.1 Press Release dated September 18, 2003
"Telxon Has Adverse Ruling in Smart Media Case"
SIGNATURES
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.
SYMBOL TECHNOLOGIES, INC.
Date: September 18, 2003 By: /s/ Mark T. Greenquist
Name: Mark T. Greenquist
Title: Senior Vice President
and Chief Financial
Officer
EXHIBIT INDEX
Exhibit Description
Exhibit 99.1 Press Release dated September 18, 2003
"Telxon Has Adverse Ruling in Smart Media Case"
EXHIBIT 99.1
Telxon Has Adverse Ruling in Smart Media Case
HOLTSVILLE, N.Y--Sept. 18, 2003--Symbol Technologies, Inc.
(NYSE:SBL) today announced that a jury has awarded
approximately $218 million in damages for claims made by Smart
Media of Delaware, Inc. and one of its shareholders against
Telxon Corporation, a wholly owned subsidiary of Symbol. The
case was tried in the Summit County Court of Common Pleas in
Ohio. No judgment has been entered in the case, and Telxon
intends to file motions to overturn the verdict.
In 1999, Smart Media and certain of its principals filed
claims against Telxon alleging that after discussions between
the two companies, Telxon did not form a business alliance
with Smart Media or provide financial support to develop the
"Smart Handle" product, resulting in financial losses for
Smart Media.
"We are, of course, disappointed that the jury did not confirm
that a business agreement did not exist between Telxon and
Smart Media," said Walter Siegel, Telxon vice president. "We
believe there is a basis for overturning and, if necessary,
appealing the verdict, and will be exploring our options in
this matter."
Telxon was acquired by Symbol Technologies in 2000 through a
merger of Telxon with one of Symbol's wholly owned
subsidiaries. The Smart Media claims against Telxon were
brought prior to Symbol's acquisition of Telxon.
Telxon currently distributes certain Symbol products. Telxon
revenue for the first quarter ended March 31, 2003, was
approximately $17 million, and at the end of this period
Telxon had total assets of approximately $60 million. These
amounts are subject to change pending the restatement of
previous financial statements.
About Symbol Technologies, Inc.
Symbol Technologies, Inc. delivers enterprise mobility
solutions that enable anywhere, anytime data and voice
communication designed to increase productivity, reduce costs
and realize competitive advantage. Symbol systems and services
integrate rugged mobile computing, advanced data capture and
wireless networking for the world's leading retailers,
transportation and logistics companies and manufacturers as
well as government agencies and providers of healthcare,
hospitality and security. More information is available at
www.symbol.com
For media information:
Patricia Hall
Symbol Technologies, Inc.
631-738-5636
hallp@symbol.com
For financial information:
Nancy Tully
Symbol Technologies, Inc.
631-738-5050
tullyn@symbol.com