SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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)
JUNE 30, 2004
EASYLINK SERVICES CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 000-26371 13-3787073
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation) Identification No.)
33 KNIGHTSBRIDGE ROAD, PISCATAWAY, NJ 08854
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(Address of principal executive offices)
Registrant's telephone number, including area code (732) 652-3500
N/A
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Former Name or Former Address, if Changed Since Last Report
ITEM 5. OTHER EVENTS
EasyLink Services Corporation (the "Company") reported today that the
staff of the US Securities and Exchange Commission is reviewing certain
transactions accounting for approximately $3 million of revenue generated by its
former advertising network business in 2000, a year in which the Company
reported $61.2 million in total revenue. The Company understands that the staff
is in part reviewing whether and to what extent the approximately $3 million in
revenue under review may be recognized under EITF 99-17, relating to accounting
for advertising barter transactions, which became effective in January 2000.
Substantially all of the revenue being reviewed was reported after the Company
announced its intention to sell its advertising network business, which the
Company ultimately sold in March 2001. The Company is engaged in ongoing
discussions with the staff regarding the foregoing and has taken the position
that the transactions at issue are not material to the Company's 2000 financial
statements.
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 hereunto duly authorized.
Dated: July 1, 2004
EASYLINK SERVICES CORPORATION
By /s/ Michael Doyle
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Michael Doyle
Vice President and Chief Financial Officer