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): February 1, 1999
CALCOMP TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-16071 06-0888312
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2411 West La Palma Avenue, Anaheim, CA 92801
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code: (714) 821-2000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Item 2. Acquisition or Disposition of Assets.
On February 1, 1999, the Registrant sold the operating assets (the
"Assets") of its Input Technologies Division (the "Division") to GTCO
Corporation, a Maryland corporation (the "Purchaser"), pursuant to a letter
agreement dated January 18, 1999 (a copy of which is attached hereto as Exhibit
99.1). The total purchase price for the Assets was Six Million Five Hundred
Thousand Dollars ($6,500,000) in cash. The Assets included accounts receivable,
pre-paid expenses, property, plant, equipment, intellectual property, inventory
and customer lists relating solely to the Division, and the real property and
building located in Scottsdale, AZ. In addition, the Purchaser assumed certain
of the liabilities and obligations arising solely from the Division. In
connection with the sale of the Division, the Registrant granted GTCO a
nonexclusive, royalty-free, license to use the names "CalComp" and
"Summagraphics."
Item 5. Other Events
On or around January 28, 1999, the Registrant's common stock was
formally delisted from The Nasdaq Stock Market ("NASDAQ"). The Registrant no
longer complied with the minimum bid price or market value of public float
requirements for continued listing on NASDAQ. As previously discussed, the
Registrant has adopted a Shut-down Plan to close the operations of the
Registrant. Consequently, the Registrant was unable to provide NASDAQ with any
information to show that it would be able to comply with these requirements and
delisting was accelerated.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
It is impractical to provide the required pro forma financial
information required under Item 7(b) of Form 8-K at the time this
report on Form 8-K is required to be filed. In accordance with
Item 7(b)(2) of Form 8-K, the Company will file the required pro
forma financial information under cover of an amended Form 8-K as
soon as practicable, but no later than April 17, 1999.
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(c) Exhibits.
Exhibit No. Description of Exhibit
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99.1 Letter Agreement dated January 18, 1999, between the Registrant
and GTCO Corporation, a Maryland corporation.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated: February 15, 1999 CALCOMP TECHNOLOGY, INC.
By: /s/ John J. Millerick
_________________________________
John J. Millerick
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description of Exhibit
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99.1 Letter Agreement dated January 18, 1999, between the Registrant
and GTCO Corporation, a Maryland corporation.
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