UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
SOUTHWALL TECHNOLOGIES INC.
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(Name of Issuer)
COMMON STOCK, $.001 PAR VALUE
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(Title of Class of Securities)
844909101
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(CUSIP Number)
MAY 6, 2003
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(Date of Event Which Requires Filing of this Statement
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
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* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
CUSIP No. 844909101 13G Page 2 of 7 Pages
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1. NAME OF REPORTING PERSONS
NEEDHAM & COMPANY, INC.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
13-3255839
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(See instructions) (b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 5. SOLE VOTING POWER None
SHARES
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BENEFICIALLY 6. SHARED VOTING POWER 745,548
OWNED BY
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EACH 7. SOLE DISPOSITIVE POWER None
REPORTING
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PERSON 8. SHARED DISPOSITIVE POWER 745,548
WITH
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY 745,548 shares of
EACH REPORTING PERSON common stock of the
Issuer.
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [X]
CERTAIN SHARES (See instructions)
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.95%
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12. TYPE OF REPORTING PERSON (See instructions) BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 844909101 13G Page 3 of 7 Pages
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1. NAME OF REPORTING PERSONS
George A. Needham
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(See instructions) (b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION USA
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NUMBER OF 5. SOLE VOTING POWER None
SHARES
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BENEFICIALLY 6. SHARED VOTING POWER 1,480,548
OWNED BY
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EACH 7. SOLE DISPOSITIVE POWER None
REPORTING
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PERSON 8. SHARED DISPOSITIVE POWER 1,480,548
WITH
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,480,548 shares of common stock of the Issuer ("Shares") which consists of
30,000 Shares owned individually by Mr. Needham; 5,000 Shares owned by
immediate family members of Mr. Needham; 745,548 Shares beneficially owned
by Needham & Company, Inc. which Mr. Needham may be deemed to beneficially
own by virtue of his position in and share ownership of Needham & Company,
Inc.; and 700,000 Shares beneficially owned by Needham Management Partners,
L.P., which consists of (i) 300,000 Shares beneficially owned by Needham
Emerging Growth Partners, L.P., (ii) 300,000 Shares beneficially owned by
Needham Contrarian Fund, L.P. and (iii) 100,000 Shares beneficially owned
by Needham Emerging Growth Partners (Caymans), L.P., which Mr. Needham may
be deemed to beneficially own by virtue of his position as Managing General
Partner of Needham Management Partners, L.P., the sole general partner of
each of the above private limited partnerships.
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [_]
CERTAIN SHARES (See instructions)
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.82%
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12. TYPE OF REPORTING PERSON (See instructions) IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 844909101 13G Page 4 of 7 Pages
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1. NAME OF REPORTING PERSONS
NEEDHAM MANAGEMENT PARTNERS, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
13-3683491
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(See instructions) (b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER OF 5. SOLE VOTING POWER None
SHARES
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BENEFICIALLY 6. SHARED VOTING POWER 700,000
OWNED BY
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EACH 7. SOLE DISPOSITIVE POWER None
REPORTING
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PERSON 8. SHARED DISPOSITIVE POWER 700,000
WITH
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
700,000 shares of common stock of the Issuer ("Shares") which consists of
(i) 300,000 Shares beneficially owned by Needham Emerging Growth Partners,
L.P., (ii) 300,000 Shares beneficially owned by Needham Contrarian Fund,
L.P. and (iii) 100,000 Shares beneficially owned by Needham Emerging Growth
Partners (Caymans), L.P., which Needham Management Partners, L.P. may be
deemed to beneficially own by virtue its position as the sole general
partner of each of the above private limited partnerships.
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES [X]
CERTAIN SHARES (See instructions)
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.59%
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12. TYPE OF REPORTING PERSON (See instructions) BD
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 844909101 13G Page 5 of 7 Pages
ITEM 1(a). NAME OF ISSUER:
Southwall Technologies Inc.
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1029 Corporation Way
Palo Alto, CA 94303
ITEM 2(a). NAME OF PERSON FILING:
(i) Needham & Company, Inc.
(ii) George A. Needham
(iii) Needham Management Partners, L.P.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE:
(i) 445 Park Avenue, New York, NY 10022
(ii) 445 Park Avenue, New York, NY 10022
(iii) 445 Park Avenue, New York, NY 10022
ITEM 2(c). CITIZENSHIP:
See Item 4 of the cover pages attached hereto, which
information is hereby incorporated by reference.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $.001 par value.
ITEM 2(e). CUSIP NUMBER:
844909101
ITEM 3. (i) Needham & Company is a registered broker-dealer under
Section 15 of the Securities Exchange Act of 1934.
(ii) Not Applicable.
(iii) Not Applicable.
CUSIP No. 844909101 13G Page 6 of 7 Pages
ITEM 4(a) AND (b). OWNERSHIP: AMOUNT BENEFICIALLY OWNED AND PERCENT OF CLASS:
See Items 5-8 of the cover pages attached hereto, which
information is hereby incorporated by reference.
This Schedule 13G shall not be construed as an admission that
the Reporting Person, either for purposes of Section 13(d) or
13(g) of the Securities Exchange Act of 1934, as amended or
for other purposes, is the beneficial owner of any securities
covered by this statement, except that George A. Needham does
not disclaim beneficial ownership of Shares owned directly by
him.
ITEM 4(c). See Items 5 through 8 of the cover pages attached hereto,
which information is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not Applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
Not Applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY OR CONTROL PERSON:
Not Applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not Applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not Applicable.
ITEM 10. CERTIFICATION:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
and are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the
effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
CUSIP No. 844909101 13G Page 7 of 7 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: July 11, 2003
NEEDHAM & COMPANY, INC.
By: /s/Glen W. Albanese
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Name: Glen W. Albanese
Title: Chief Financial Officer
GEORGE A. NEEDHAM
/s/ George A. Needham
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NEEDHAM MANAGEMENT PARTNERS, L.P.
By: /s/Glen W. Albanese
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Name: Glen W. Albanese
Title: Chief Financial Officer
Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties for whom copies are to be sent.
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
Schedule 13G
Exhibit A
AGREEMENT
The undersigned, Needham & Company, Inc., George A. Needham, and Needham
Management Partners, L.P. agree that the statement to which this exhibit is
appended is filed on behalf of each of them.
Date: July 11, 2003
By: /s/Glen W. Albanese
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Name: Glen W. Albanese
Title: Chief Financial Officer
GEORGE A. NEEDHAM
/s/ George A. Needham
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NEEDHAM MANAGEMENT PARTNERS, L.P.
By: /s/Glen W. Albanese
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Name: Glen W. Albanese
Title: Chief Financial Officer