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 October 2001
Trend Micro Incorporated
(Translation of registrant's name into English)
Odakyu Southern Tower, 10th Floor, 2-1, Yoyogi 2-chome,
Sibuya-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 ____
-----
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
-----
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-__________
Information furnished on this form:
Table of Contents
1. Press release dated October 25, 2001 relating to the Japanese GAAP
consolidated interim financial information (unaudited) of the registrant and
its consolidated subsidiaries for the quarter ended September 30, 2001.
2. Report on the Japanese GAAP consolidated interim financial information
(unaudited) of the registrant and its consolidated subsidiaries for the
quarter ended September 30, 2001 (English translation).
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: October 29, 2001 By: /s/ Toshihiro Watanabe
---------------------------
Toshihiro Watanabe
Representative Director and
Senior Executive Vice
President
Attachment 1
For Immediate Release
---------------------
Trend Micro Announces Record Third Quarter Results
Sales climb 42% YoY and ordinary income rises 22% in 3Q 2001
Tokyo, Japan - October 25, 2001 - Trend Micro Inc. (TSE: 4704; Nasdaq: TMIC), a
worldwide leader in antivirus and Internet content security solutions, reported
consolidated sales of 7,548 million yen (63 million US $) and ordinary income of
2,305 million yen (19 million US $) for the third quarter of fiscal 2001, ended
September 30, 2001. The figures reflect gains of 41.6% in sales and 22.1% in
ordinary income compared with the same period a year ago. This increase was
driven by solid, well-balanced growth in all three major markets: Japan, North
America, and Europe. Europe led all regions with rapid sales growth of 85% over
3Q 2000. Japan remained the largest market, with sales rising 32% to 2,921
million yen from 2,217 million yen in 2000 Major account wins in Q3 included
IBM, Sprint, Sony HSBC, US Deptt of Justice and Transportation, and City of
San Francisco.
If the results were not adjusted in accordance with a new revenue recognition
policy, sales would have shown annual growth of 49.6% to 7,973 million yen (66US
$), and ordinary income would have risen 44.6% to 2,730 million yen (22million
US $) in the quarter.
(Exchange rate 1US$= 119.40 JPY)
Further details can be obtained at
http://www.antivirus.com/corporate/investor_relations
-----------------------------------------------------
Third Quarter FY 2001 (July 1 through September 30, 2001) unaudited
. Consolidated Unaudited Results of Operations for Three Quarters Ending
September 30, 2001
(1) Consolidated Results of Operations
------------------------------------------------------------------------------------------------------------------------------
2001 (Note) 2
----------------------------------------------------------------------------------------
Current third quarter Year-to-date
results
From July 1, 2001 Growth Rate From January 1, Growth Rate
2001
To September 30, 2001 To September
30, 2001
------------------------------------------------------------------------------------------------------------------------------
Millions of yen % Millions of yen %
Sales 7,548 41.6 20,488 37.2
Cost of sales 370 82.3 1,102 36.6
----------------------------------------------------------------------------------------
Gross profit 7,178 40.0 19,385 37.3
Selling, general and
administrative expenses 4,512 37.2 13,820 49.1
----------------------------------------------------------------------------------------
Operating income 2,665 45.0 5,564 14.6
Non-operating income 30 -84.2 559 48.7
Non-operating expense 390 180.6 814 120.6
----------------------------------------------------------------------------------------
Ordinary income 2,305 22.1 5,309 9.2
Unusual gains - - - -100.0
Unusual losses 17 - 5,145 171,400.0
----------------------------------------------------------------------------------------
Income before taxes 2,288 21.2 163 -97.2
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------
2000 (Note) 1, 2
------------------------------------------------------------------------
Previous third Year-to-date
quarter results
From July 1, 2000 From January 1,
2000
To September 30, To September
2000 30, 2000
------------------------------------------------------------------------
Millions of yen Millions of yen
Sales 5,330 14,930
Cost of sales 203 807
------------------------------------------
Gross profit 5,126 14,123
Selling, general and
administrative expenses 3,288 9,268
------------------------------------------
Operating income 1,838 4,854
Non-operating income 190 376
Non-operating expense 139 369
------------------------------------------
Ordinary income 1,888 4,861
Unusual gains - 1,033
Unusual losses - 3
------------------------------------------
Income before taxes 1,888 5,890
------------------------------------------------------------------------
Note 1. Change in accounting principle: Please] see "Note on Change in
Accounting Principle" below.
(2) Geographic segment information
Sales to third parties
-----------------------------------------------------------------------------------------------------------------------------------
2001 (Note) 2 2000 (Note) 1, 2
----------------------------------------------------------------------------------------------------------
Current third quarter Year-to-date results Previous third quarter Year-to-date results
From July 1, 2001 From January 1, 2001 From July 1, 2000 From January 1, 2000
To September 30, 2001 To September 30, 2001 To September 30, 2000 To September 30, 2000
-----------------------------------------------------------------------------------------------------------------------------------
Millions of yen Millions of yen Millions of yen Millions of yen
Japan 2,921 7,408 2,217 5,873
North America 2,197 6,215 1,522 4,300
Taiwan 443 1,326 500 1,332
Europe 1,516 4,312 816 2,686
Others 470 1,224 274 737
-----------------------------------------------------------------------------------------------------------------------------------
Total 7,548 20,488 5,334 14,930
-----------------------------------------------------------------------------------------------------------------------------------
Note 1. Classification of countries and regions is based on
geographical proximity.
2. Classification of countries and regions into each geographic
segment.
North America: U.S.A.
Europe : Italy, Germany, France, UK
Others : Korea, Australia, Brazil,Hong Kong, Malaysia,
Mexico, New Zealand, China
(3) Affiliated companies:
Number of consolidated subsidiaries: 18
Number of unconsolidated subsidiaries: 0
Financial data for the third quarter of FY 2000 is provided solely for
comparison purposes, as the Company did not prepare quarterly earnings
statements last year. Moreover, the figures for Q1 FY 2001 and Q1 FY 2000 have
not been audited by the Company's certified public accountants or independent
auditors, and the financial results described in this release were prepared in
accordance with Japanese generally accepted accounting principles (GAAP).
Note on Change in Accounting Principle
--------------------------------------
Until the end of FY 2000, the Company and Trend Micro Incorporated (Taiwan)
booked revenue for Premium Support and other post-contract customer support
services at the beginning of the support period. Effective from FY 2001, the
method of recognizing this revenue recognition has been changed and sales
revenues from customer support are deferred over the relevant support period.
The table below shows the year-on-year growth after restating the 2001
third quarter numbers to the revenue recognition policy in use during the
corresponding quarter of Fiscal 2000.
------------------------------------------------------------------------------------------------------------------------------------
2001 (Note) ,2 2000 (Note) 1,2
---------------------------------------------------------------------------------------------------------------------
Current third quarter Year-to-date results Previous third quarter Year-to-date results
From July 1, 2001 Growth From January 1, 2001 Growth From July 1, 2000 From January 1, 2000
Rate Rate
To September 30, 2001 To September 30, 2001 To September 30, 2000 To September 30, 2000
------------------------------------------------------------------------------------------------------------------------------------
2
-----------------------------------------------------------------------------------------------------------------------------------
Millions of yen % Millions of yen % Millions of yen Millions of yen
Sales 7,973 49.6 21,405 43.4 5,330 14,930
Ordinary income 2,730 44.6 6,227 28.1 1,888 4,861
Income before taxes 2,713 43.7 4,090 -30.6 1,888 5,890
-----------------------------------------------------------------------------------------------------------------------------------
(Note) 1. Quarterly financial information was not disclosed in 2000. The figures
for the third quarter of Fiscal Year 2000 in above table are prepared
for management purpose and disclosed for reference only.
2. The figures for the third quarter of Fiscal Year 2001 and Fiscal Year
2000 are not audited.
About Trend Micro
Trend Micro, Inc. is a leader in antivirus and Internet content security
software and services. The Tokyo-based corporation has business units worldwide.
For additional information and evaluation copies of all Trend Micro products,
visit http://www.antivirus.com or http://www.trendmicro.com.
-------------------------
###
For Additional Information
Mr. Mahendra Negi
Chief Financial Officer / IR Officer
Phone: +81-3-5334-4899
Fax: +81-3-5334-4874
ir@trendmicro.co.jp
-------------------
3
Attachment 2
October 25, 2001
Company: Trend Micro Incorporated
Representative: Chief Executive Officer
Chang, Ming-Jang
Code: 4704 Tokyo Stock Exchange 1st Section
Contact: Director, Chief Financial Officer
Mahendra Negi
TEL: 03-5334-3600
1. Consolidated Unaudited Results of Operations for Three Quarters Ending
September 30, 2001
(1) Consolidated Results of Operations
-----------------------------------------------------------------------------------------------------------
2001 (Note) 2
---------------------------------------------------------------------------
Current third quarter Year-to-date
results
From July 1, 2001 Growth Rate From January 1, Growth Rate
2001
To September 30, 2001 To September
30, 2001
-----------------------------------------------------------------------------------------------------------
Millions of yen % Millions of yen %
Sales 7,548 41.6 20,488 37.2
Cost of sales 370 82.3 1,102 36.6
---------------------------------------------------------------------------
Gross profit 7,178 40.0 19,385 37.3
Selling, general and
administrative expenses 4,512 37.2 13,820 49.1
---------------------------------------------------------------------------
Operating income 2,665 45.0 5,564 14.6
Non-operating income 30 -84.2 559 48.7
Non-operating expense 390 180.6 814 120.6
---------------------------------------------------------------------------
Ordinary income 2,305 22.1 5,309 9.2
Unusual gains - - - -100.0
Unusual losses 17 - 5,145 171,400.0
---------------------------------------------------------------------------
Income before taxes 2,288 21.2 163 -97.2
-----------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
2000 (Note) 1, 2
--------------------------------------------------------------------------------
Previous third Year-to-date results
quarter
From July 1, 2000 From January 1, 2000
To September 30, 2000 To September 30, 2000
--------------------------------------------------------------------------------
Millions of yen Millions of yen
Sales 5,330 14,930
Cost of sales 203 807
--------------------------------------------------
Gross profit 5,126 14,123
Selling, general and
administrative expenses 3,288 9,268
--------------------------------------------------
Operating income 1,838 4,854
Non-operating income 190 376
Non-operating expense 139 369
--------------------------------------------------
Ordinary income 1,888 4,861
Unusual gains - 1,033
Unusual losses - 3
--------------------------------------------------
Income before taxes 1,888 5,890
--------------------------------------------------
Note 1. Change in accounting principle: Please refer to [Supplementary
information about the consolidated results of third quarter of
Fiscal Year 2001]
(2) Geographic segment information
Sales to third parties
-------------------------------------------------------------------------------------------------------------------------
2001 (Note) 2 2000 (Note) 1, 2
----------------------------------------------------------------------------------------------------
Current third quarter Year-to-date results Previous third quarter Year-to-date results
From July 1, 2001 From January 1, 2001 From July 1, 2000 From January 1, 2000
To September 30, 2001 To September 30, 2001 To September 30, 2000 To September 30, 2000
-------------------------------------------------------------------------------------------------------------------------
Millions of yen Millions of yen Millions of yen Millions of yen
Japan 2,921 7,408 2,217 5,873
North America 2,197 6,215 1,522 4,300
Taiwan 443 1,326 500 1,332
Europe 1,516 4,312 816 2,686
Others 470 1,224 274 737
-------------------------------------------------------------------------------------------------------------------------
Total 7,548 20,488 5,334 14,930
-------------------------------------------------------------------------------------------------------------------------
Note 1. Classification of countries and regions is based on
geographical proximity.
2. Classification of countries and regions into each geographic
segment.
North America: U.S.A.
Europe : Italy, Germany, France, UK
Others : Korea, Australia, Brazil,Hong Kong, Malaysia,
Mexico, New Zealand, China
(3) Basis of consolidation
The number of consolidated subsidiaries 18 (2 in Japan and 16 in overseas)
The number of unconsolidated subsidiaries -
(4) Increase (Decrease) of major assets and liabilities
-------------------------------------------------------------------------------------------------------------
As of September 30, 2001
(Note) 2 Increase (Decrease) As of December 31, 2000
-------------------------------------------------------------------------------------------------------------
(Assets) Millions of yen Millions of yen Millions of yen
Cash and bank deposits 35,308 10,872 24,435
Notes and accounts
receivable, trade 8,246 (534) 8,780
Marketable securities - (1,872) 1,872
Consolidation goodwill - (2,253) 2,253
Investments in securities 3,274 2,674 600
(Liabilities)
Deferred revenue 7,779 5,189 2,590
(Total of short and long term)
Bonds 15,300 5,600 9,700
-------------------------------------------------------------------------------------------------------------
[Supplementary information about the consolidated results of third quarter of FY
2001]
Basically, the product license agreement, which the parent company and its
subsidiaries contract with the end-user, states the article for Post-contract
Customer Support (customer support and upgrading of products and its pattern
files).
Until previous consolidated fiscal year, total revenues of the parent
company and Trend Micro Incorporated (Taiwan) included a portion of Post-
contract Customer Support revenue, recognized at the time when the license was
delivered to user.
Effective current consolidated fiscal year, the revenue recognition method
for portion of Post-contract Customer Support has changed as follows: Portion of
Post-contract Customer Support revenue is recognized separately from total
revenue and it is deferred as Deferred revenues under Current liabilities and
Non-current liabilities based on contracted period. Deferred revenue is finally
recognized for the contracted period evenly.
The table below shows the year-on-year growth after restating the 2001 third
quarter numbers to the revenue recognition policy in use during the
corresponding quarter of Fiscal 2000.
------------------------------------------------------------------------------------------------------
2001 (Note) 2
------------------------------------------------------------------------------------
Current third quarter Year-to-date results Growth
From July 1, 2001 Growth From January 1, 2001 Rate
To September 30, 2001 Rate To September 30, 2001
------------------------------------------------------------------------------------------------------
Millions of yen % Millions of yen %
Sales 7,973 49.6 21,405 43.4
Ordinary income 2,730 44.6 6,227 28.1
Income before taxes 2,713 43.7 4,090 -30.6
------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------
2000 (Note) 1, 2
--------------------------------------------------------------------------------
Previous third quarter Year-to-date results
From July 1, 2000 From January 1, 2000
To September 30, 2000 To September 30, 2000
--------------------------------------------------------------------------------
Millions of yen Millions of yen
Sales 5,330 14,930
Ordinary income 1,888 4,861
Income before taxes 1,888 5,890
--------------------------------------------------------------------------------
(Note) 1. Quarterly financial information was not disclosed in 2000. The
figures for the third quarter of Fiscal Year 2000 in above table
are prepared for management purpose and disclosed for reference
only.
2. The figures for the third quarter of Fiscal Year 2001 and Fiscal
Year 2000 are not audited.