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): April 24, 2002

                        APPLIED MICROSYSTEMS CORPORATION
             (Exact name of Registrant as Specified in its Charter)


          WASHINGTON                   0-26778                 91-1074996
 (State or other jurisdiction   (Commission File Number)   (I.R.S. Employer of
incorporation or organization)                            Identification Number)


                5020 148TH Avenue N.E., Redmond, Washington 98052
                  (Address of Principal Administrative Offices)

       Registrant's Telephone Number, Including Area Code: (425) 882-2000


                        --------------------------------



Item 5. Other Events and Regulation FD Disclosure.

     On April 24, 2002, Applied Microsystems Corporation (the "Company")
announced that it has entered into a non-binding letter of intent to acquire
REBA Technologies, Inc - an Austin, TX-based start-up company. REBA is focused
on developing technology to enhance the operation of server farms for
enterprises, Application Server Providers and Network Service Providers. The
consideration for the proposed acquisition consists of 350,000 shares of the
Company's common stock plus a $200,000 non-interest-bearing note due two years
after the closing date. The Company would not acquire any personnel in the
transaction, and the proposed transaction remains subject to the completion of
due diligence and definitive documentation. The controlling shareholder of REBA
is Lary L. Evans, who is also on the Board of Directors of the Company.

     A copy of the Company's press release announcing the proposed acquisition
is attached hereto as exhibit 99.1 and is incorporated herein by reference.

Item 7. Financial Statements and Exhibits.

(c) Exhibits.

     EXHIBIT   DESCRIPTION

      99.1     Press Release, dated April 24, 2002, announcing the Company's
               proposed acquisition of REBA Technologies, Inc.



                                   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.

                                       APPLIED MICROSYSTEMS CORPORATION


Dated: April 24, 2002                  By:  /s/ Robert C. Bateman

                                       By:  Robert C. Bateman
                                       Its: Vice President, Chief Financial
                                            Officer, Secretary and Treasurer



                                  EXHIBIT INDEX

     EXHIBIT NO.    DESCRIPTION

      99.1          Press Release, dated April 24, 2002, announcing the
                    Company's proposed acquisition of REBA Technologies, Inc.