FORM 6-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Commission File Number: 333-10486
For the Month of July 2002
Trend Micro Incorporated
(Translation of registrant's name into English)
Odakyu Southern Tower, 10th Floor, 2-1, Yoyogi 2-chome,
Shibuya-ku, Tokyo 151-8583, Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-
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Information furnished on this form:
Table of Contents
1. Press release of July 30, 2002 announcing consolidated results for the
three months ended June 30, 2002 and for the six months ended June 30, 2002.
SIGNATURE
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, thereunto duly authorized.
Trend Micro Incorporated
Date: July 30, 2002 By: /s/ Mahendra Negi
--------------------
Mahendra Negi
Representative Director;
Chief Financial Officer
and Executive Vice
President
Attachment 1
Trend Micro, Inc. Announces Record Second Quarter Consolidated Results
Sales grow by 70% and operating income rises by 272% in Q2 2002
Tokyo, Japan - July 30, 2002 - Trend Micro Inc (TSE: 4704; Nasdaq: TMIC), a
worldwide leader in network antivirus and Internet content security software and
services, today reported results in Japanese GAAP for the second quarter 2002,
ended June 30, 2002. Trend Micro posted consolidated net sales of 10.8 billion
yen, (or US $92 million/1/) and operating income of 3.3 billion yen (or US $28
million). The figures reflect gains of 70% in sales and 272% in operating income
compared with the same period a year ago. Net sales growth was 10% over the
previous (first) quarter while operating income also increased 10%/2/.
All regions experienced strong growth in revenue compared to the same quarter in
2001; sales in Japan increased 146% year over year and 16% sequentially. Europe
also experienced a very strong quarter showing 71% growth year over year 13%
sequentially.
Steve Chang, Chairman and CEO of Trend Micro said "We are pleased with another
strong performance in the second quarter and to have again grown our antivirus
business faster than the rest of the industry. With this quarter's availability
of the first offerings of our Enterprise Protection Strategy we are just
beginning the next stage of our growth. As our customers begin evaluating and
utilizing these next generation capabilities we expect continued strong growth
in our enterprise business. And with the rapid penetration of consumer broadband
we see continued strong growth in our consumer segment driven by VirusBuster and
our new GateLock product family."
All major product lines grew strongly both year-to-year and quarter-to-quarter.
Consumer product revenue grew 48% quarter-to-quarter and 92% year-to-year.
Enterprise antivirus product revenue grew 66% year-to-year and 4%
quarter-to-quarter. Enterprise antivirus product revenue represented 80% of
Trend Micro's net sales in Q2./3/
Consolidated net sales for the third quarter ending September are expected to be
between 9.8 and 10.3 billion Yen. Ordinary income is expected to be between 2.25
and 2.55 billion Yen.
Second Quarter Non-Financial Highlights
.. Trend Micro unveiled its Enterprise Protection Strategy (EPS), a global
initiative expanding the functionality of Trend Micro solutions to provide
proactive ability to contain viruses, worms and other malicious threats.
This is the first of many releases as we expand this capability.
.. Trend Micro PortalProtect(TM) for Microsoft SharePoint Portal Server was
released as well as the newest version of OfficeScan Corporate Edition
which included our new Trojan System Cleaner capability.
.. North America key accounts focus showed strong results: another 11 of the
Fortune 500 signed on with Trend Micro this quarter and at least 13 deals
over $100,000 annually were closed. U.S. business unit's consumer sales
grew 25% from Q1 to Q2 and over 50% from the same quarter in 2001./3/
.. New offices were opened in Utrecht, Netherlands and Dubai's prestigious
Internet City. The number of people employed by Trend Micro worldwide
exceeded 1,700, an increase of about 23% compared to the same quarter in
2001.
.. Continued expansion of rapidly growing Latin America Region business
signing 7 new distributors to complete our regional coverage with all
reporting sales. In addition, Trend Micro was named the best Brazilian
software company by EXAME magazine.
.. TrendLabs, Trend Micro's 24x7 global antivirus research and support centers
reported that the number of new viruses received from customers increased
to 375 in Q2, 2002 compared with 313 in Q1. This represents a 20 percent
increase.
/1/ $1 US = 117 Japanese Yen
/2/. Net Income for Q2'02 was 1.8 Billion Yen but comparison to prior year is
not meaningful as Q2'01 Net Income was negative due to goodwill amortization.
/3/ Management accounting numbers. Financial filings may be slightly different.
Notice Regarding Forward Looking Statements
The statements included in this release contain "forward-looking statements"
within the meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include
statements regarding our expectations about our earnings for the third quarter
ending September 30, 2002. Many important factors could cause our actual results
to differ materially from those expressed in our forward-looking statements.
These factors include:
. Customer acceptance of our new products and services
. The impact of competing products and services
. Difficulties in adapting our products and services to the Internet
. Difficulties in addressing new virus and other computer security
problems
. The potential lack of attractive investment targets and difficulties
unsuccessfully executing our investment strategy
. Declining prices for our products and services
We assume no obligation to update any forward-looking statements. For more
details regarding risk factors relating to our future performance, please refer
to our filings with the SEC including our annual report on Form 20-F which was
filed on July 1, 2002.
About Trend Micro
Trend Micro, Inc. is a leader in network antivirus and Internet content security
software and services. The Tokyo-based corporation has business units worldwide.
Trend Micro products are sold directly, through corporate, value-added resellers
and managed service providers. For additional information and evaluation copies
of all Trend Micro products, visit our website, http://www.trendmicro.com
Supplementary Information
The following tables show key financial information for the six months ended
June 30, 2002 as announced by Trend Micro in Japan.
($1US = 117 Japanese Yen)
1. Consolidated Results of Operation
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From Jan 1, 2002 to Jun 30,
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2002 2001
----------------------------------------------------------------------------------------
Millions of yen, Millions of US$, Millions of yen Millions of US$ Change
except share except share
data data
-----------------------------------------------------------------------------------------------------------------
Net sales 20,507 175 12,939 111 58%
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Operating Income 6,356 54 2,898 25 119%
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Ordinary Income 6,271 54 3,004 26 109%
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Net income 3,517 30 -1,376 -12 -
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Net income per share 26.62 yen $ 0.228 - - -
(basic)
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Net income per share 26.50 yen $ 0.226 - - -
(diluted)
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2. Consolidated Financial Position
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As of July 30,
----------------------------------------------------------------------------------------
2002 2001
----------------------------------------------------------------------------------------
Millions of yen, Millions of US$, Millions of yen, Millions of US$,
except share except share except share except share
data data data data
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Total assets 69,667 595 53,413 457
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Shareholders' equity 34,729 297 26,914 230
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Shareholders' equity 49.8% 50.4%
ratio
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Shareholders' equity 262.27 yen $ 2.242 204.39 yen $ 1.747
per share
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3. Consolidated Cash Flow
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From Jan 1, 2002 to Jun 30,
-------------------------------------------------------------------------------
2002 2001
-------------------------------------------------------------------------------
Millions of yen Millions of US$ Millions of yen Millions of US$
-----------------------------------------------------------------------------------------------------------------
Cash flows from operating 6,787 58 4,650 40
activities
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Cash flows from investing -1,415 -12 -1,363 -12
activities
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Cash flows from financing 544 5 6,503 56
activities
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Ending balance of cash and 45,990 393 34,553 295
cash equivalent
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