UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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 8, 2008
Dot Hill Systems Corp.
(Exact name of registrant as specified in its charter)
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Delaware
(State or other
jurisdiction of
incorporation)
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1-13317
(Commission File Number)
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13-3460176
(I.R.S. Employer
Identification No.) |
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2200 Faraday Avenue, Suite 100, Carlsbad, CA
(Address of principal executive offices)
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92008
(Zip Code) |
Registrant’s telephone number, including area code: (760) 931-5500
Not applicable.
(Former name or former address, if changed since last report.)
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 (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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TABLE OF CONTENTS
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| Item 2.02 |
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Results of Operations and Financial Condition. |
On February 8, 2008, we announced certain expected financial results for the fourth quarter ended
December 31, 2007 in the press release attached hereto as Exhibit 99.1 and incorporated herein by
reference.
The information in this Item 2.02 is being furnished and shall not be deemed “filed” for the
purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject
to the liabilities of that Section. The information in this Item 2.02 shall not be incorporated by
reference into any registration statement or other document pursuant to the Securities Act of 1933,
as amended.
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| Item 2.05 |
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Costs Associated with Exit or Disposal Activities. |
On
February 8, 2008, we announced the implementation of a restructuring plan that will include
severance costs and fees associated with facility reductions in the
range of $1.0
million to $2.0 million. The plan is designed to better align our resources with our strategic
business objectives. The majority of the activities comprising the cost reduction plan are
expected to be completed by the end of fiscal 2008. We expect to record
severance costs in the range of $500,000 to $1.0 million and we expect to record facility reduction costs in the range of $500,000 to $1.0 million.
The majority of the charges associated with the restructuring plan
are expected to result in future cash expenditures.
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| Item 2.06 |
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Material Impairments. |
On February 8, 2008, we announced in the press release attached hereto as Exhibit 99.1 that while
we are still completing the review of our fourth quarter 2007 financial results, our initial
assessment is that we will need to complete both steps of the analysis prescribed under Financial
Accounting Standards Board Statement No. 142, Goodwill and Other Intangible Assets.
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| Item 9.01 |
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Financial Statements and Exhibits. |
(d) Exhibits.
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| Exhibit |
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Description |
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99.1
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Press Release of Dot Hill Systems Corp. dated February 8, 2008. |