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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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Current report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2006
PERFORMANCE TECHNOLOGIES, INCORPORATED
Commission file number 0-27460
Incorporated pursuant to the Laws of the State of Delaware
Internal Revenue Service - Employer Identification No. 16-1158413
205 Indigo Creek Drive, Rochester, New York 14626
(585)256-0200
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:
[ ] 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))
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Item 8.01 Other Events
On July 17, 2006, Performance Technologies, Incorporated announced the extension
of a previously announced stock repurchase program. A copy of the press release
is being furnished as Exhibit 99.1 to this Form 8-K.
(c) Exhibits.
(99.1) Press release issued by Performance Technologies, Incorporated on July
17, 2006.
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.
PERFORMANCE TECHNOLOGIES, INCORPORATED
July 17, 2006 By /s/ Michael P. Skarzynski
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Michael P. Skarzynski
President and
Chief Executive Officer
July 17, 2006 By /s/ Dorrance W. Lamb
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Dorrance W. Lamb
Chief Financial Officer and
Senior Vice President of Finance
Exhibit 99.1
For more information contact:
Dorrance W. Lamb
SVP and Chief Financial Officer
Performance Technologies
585-256-0200 ext. 7276
finance@pt.com
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Performance Technologies Schedules Second Quarter 2006 Earnings
Release and Conference Call
"Company also announces an extension of its share repurchase program"
ROCHESTER, N.Y - July 14, 2006 - Performance Technologies (NASDAQ NM: PTIX), a
leading developer of platforms and systems for the world's evolving
communications infrastructure, will announce its financial results for the
second quarter 2006 after the market closes on Thursday, July 27, 2006. A
conference call will be held on Friday, July 28, 2006 at 10:00 a.m. Eastern Time
to discuss results. All institutional investors can participate in the
conference by dialing (866) 250-5144 or (416) 849-6163. The call will be
available simultaneously for all other investors at (866) 500-7713 or (416)
849-2692. A digital recording of this conference call may be accessed
immediately after its completion from July 28 through August 2, 2006. To access
the recording, participants should dial (800) 695-9442 or (402) 220-0607 using
passcode 3180143. A live Webcast of the conference call will be available on the
Performance Technologies Web site at www.pt.com and will be archived to the site
within two hours after the completion of the call.
The Company is also announcing that its Board of Directors extended the
previously announced stock repurchase program for an additional 12 months
through July 13, 2007. Under the share repurchase program, the Company is
authorized to repurchase shares of its common stock for an aggregate purchase
price not to exceed $10 million. Shares may be repurchased through open market
or private transactions, including block purchases, and will be used for the
Company's stock option plan, potential acquisition initiatives and general
corporate purposes. Performance Technologies has approximately 13,192,000 common
shares outstanding.
About Performance Technologies
Performance Technologies (NASDAQ NM: PTIX) develops platforms and systems for
the world's evolving communications infrastructure. Our broad customer base
includes global technology companies in the telecommunications, defense and
homeland security, and commercial markets. Serving the industry for 25 years,
our complete line of embedded and system-level products enables equipment
manufacturers and service providers to offer highly available and fully-managed
systems with time-to-market, performance and cost advantages.
Performance Technologies is headquartered in Rochester, New York. Additional
engineering facilities are located in San Diego and San Luis Obispo, California;
and Ottawa, Ontario (Canada). For more information, visit www.pt.com.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for certain forward-looking statements. This press release contains
forward-looking statements which reflect the Company's current views with
respect to future events and financial performance, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and is subject to the safe harbor provisions of those
Sections.
These forward-looking statements are subject to certain risks and uncertainties,
and the Company's actual results can differ materially from those discussed in
the forward-looking statements. These risks and uncertainties include, among
other factors, general business and economic conditions, rapid technological
changes accompanied by frequent new product introductions, competitive
pressures, dependence on key customers, the attainment of design wins and
obtaining orders as a result, fluctuations in quarterly and annual results, the
reliance on a limited number of third party suppliers, limitations of the
Company's manufacturing capacity and arrangements, the protection of the
Company's proprietary technology, the dependence on key personnel, changes in
critical accounting estimates, potential impairments related to investments and
foreign regulations. These statements should be read in conjunction with the
audited Consolidated Financial Statements, the Notes thereto, and Management's
Discussion and Analysis of Financial Condition and Results of Operations of the
Company as of December 31, 2005, as reported in its Annual Report on Form 10-K,
and other documents as filed with the Securities and Exchange Commission.
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