-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BSYI/3pOnnaVXQo3Elr0U/ULkH3rl6ZxsiUG4Wjd4cAXruxOSAHRl/amIIoTnxmI 2teATLiYL16Zl+2Z99uyjw== 0000927016-97-002847.txt : 19971105 0000927016-97-002847.hdr.sgml : 19971105 ACCESSION NUMBER: 0000927016-97-002847 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19971028 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971104 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: LIGHTBRIDGE INC CENTRAL INDEX KEY: 0001017172 STANDARD INDUSTRIAL CLASSIFICATION: RADIO TELEPHONE COMMUNICATIONS [4812] IRS NUMBER: 043065140 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-21319 FILM NUMBER: 97707156 BUSINESS ADDRESS: STREET 1: 67 S BEDFORD ST CITY: BURLINGTON STATE: MA ZIP: 01803 BUSINESS PHONE: 6173594000 MAIL ADDRESS: STREET 1: 67 SOUTH BEDFORD STREET CITY: BURLINGTON STATE: MA ZIP: 01803 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------ 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) October 28, 1997 -------------------------------- Lightbridge, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 000-21319 04-3065140 - ------------------------------------------------------------------------------- (State or Other Jurisdiction (Commission IRS Employer of Incorporation) File Number) Identification No.) 67 South Bedford Street, Burlington, Massachusetts 01083 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (617) 359-4000 ------------------------------ Not Applicable - ------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 5. Other Events. On October 28, 1997, Lightbridge, Inc. issued a press release with respect to its financial results for the three and nine months ended September 30, 1997. A copy of that press release is included as Exhibit 99.1 to this Current Report and is incorporated by reference herein. On October 31, 1997, Lightbridge, Inc. issued a press release with respect to its intent to file a registration statement with the Securities and Exchange Commission relating to a public offering of approximately 2,500,000 shares of its common stock, including 1,000,000 shares to be issued and sold by Lightbridge, Inc. A copy of that press release is included as Exhibit 99.2 to this Current Report and is incorporated by reference herein. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a) Financial Statements of Business Acquired. Not applicable. (b) Pro Forma Financial Information. Not applicable. (c) Exhibits.
Exhibit Number Description - --------- ------------- 99.1 Press release of Lightbridge, Inc. issued on October 28, 1997 99.2 Press release of Lightbridge, Inc. issued on October 31, 1997
-2- 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 as of this third day of November, 1997. LIGHTBRIDGE, INC. By: /s/ WILLIAM G. BROWN -------------------------------------------------- William G. Brown Chief Financial Officer, Vice President of Finance and Administration, and Treasurer -3- EX-99.1 2 PRESS RELEASE ISSUED 10/28/1997 Exhibit 99.1 Lightbridge, Inc. Reports Third Quarter Results BURLINGTON, Mass.--Oct. 28, 1997--Lightbridge, Inc. (NASDAQ:LTBG), a leading provider of customer acquisition and retention solutions for the global telecommunications industry, today reported financial results for the third quarter ended September 30, 1997. Revenues for the third quarter of 1997 were $9.5 million, compared to $7.4 million for the third quarter of 1996. Net income for the quarter was $927 thousand or $0.06 per share, compared with $354 thousand or $0.03 per share on a pro forma basis for the quarter ended September 30, 1996. The weighted average number of common and common equivalent shares outstanding for the third quarter of 1997 was 16.6 million compared to 13.9 million in the third quarter of 1996. Revenues for the nine months ended September 30, 1997 were $27.3 million, an increase of 32% from the prior year's $20.6 million. Net income for the nine months ended September 30, 1997 was $3.6 million or $0.22 per share compared with net earnings of $656 thousand or $0.05 per share on a pro forma basis in the first nine months of 1996. Pamela D. A. Reeve, Lightbridge's president and chief executive officer, commented, "This was a very solid quarter for Lightbridge and we are pleased with the performance of the company on all fronts. We added several new clients, expanded Lightbridge's product offerings with the introduction of new releases and services and continued to build the infrastructure in preparation for a seasonally strong retail fourth quarter." During the quarter, Lightbridge announced its intention to acquire Coral Systems, a Colorado-based provider of fraud and churn software to the telecommunications industry. This acquisition is expected to close during the fourth quarter. In addition, Lightbridge also announced new contracts with UniqueAir Limited, Ameritech Communications Inc. and Iridium LLC. The Company also announced a new marketing alliance with Versatility Inc. to provide world- class call center solutions to telecommunications carriers. Lightbridge introduced the Fraud Detect Model, new fraud scoring technology for the telecommunications industry, in partnership with Trans Union Corporation. The Company also launched its new release of Churn Prophet 2.0, a churn analysis tool. About Lightbridge Lightbridge, Inc. (NASDAQ:LTBG), based in Burlington, Mass., is a leading provider of software-based services that help global telecommunications carriers quickly acquire customers and retain them over time. Lightbridge has leveraged its credit processing expertise into solutions that help carriers quickly and cost-effectively provide bundled services through new channels. Telesto, Lightbridge's network of integrated customer acquisition and retention solutions, provides best-in-class credit, fraud, churn, channel and market performance solutions to such clients as AT&T Wireless, BellSouth Mobility DCS, Omnipoint Communications, PrimeCo Personal Communications and Sprint PCS. It is the only complete, workflow-enhanced system for customer interaction in the converged telecommunications marketplace. Additional information on the company can be found on the Web at http://www.lightbridge.com Lightbridge, Inc. and Subsidiaries Unaudited Condensed Consolidated Income Statements (In thousands, except for income per share data)
Three Months Ended September 30, -------------------------------- 1997 1996 Revenues $ 9,457 $ 7,372 Cost of revenues 4,385 3,970 ------- ------- Gross profit 5,072 3,402 ------- ------- Operating expenses: Development 1,532 1,155 Sales and marketing 1,250 908 General and administrative 1,097 806 ------- ------- Total operating expenses 3,879 2,869 ------- ------- Income from operations 1,193 533 Other income (expense), net 302 (159) ------- ------- Income before provision for income taxes 1,495 374 Income tax provision 568 20 ------- ------- Net income $ 927 $ 354 ======= ======= Primary net income per common share $ 0.06 ======= Primary weighted average number of common and common equivalent shares outstanding 16,647 ======= Pro forma net income per common share $ 0.03 ======= Pro forma weighted average number of common and common equivalent shares outstanding 13,933 =======
- -0- Lightbridge, Inc. and Subsidiaries Unaudited Condensed Consolidated Income Statements (In thousands, except for income per share data)
Nine Months Ended September 30, ------------------------------ 1997 1996 Revenues $ 27,288 $ 20,635 Cost of revenues 12,705 11,739 -------- -------- Gross profit 14,583 8,896 -------- -------- Operating expenses: Development 4,215 3,126 Sales and marketing 3,854 2,567 General and administrative 3,220 1,978 -------- -------- Total operating expenses 11,289 7,671 -------- -------- Income from operations 3,294 1,225 Other income (expense), net 774 (529) -------- -------- Income before provision for income taxes 4,068 696 Income tax provision (benefit) 475 40 -------- -------- Net income $ 3,593 $ 656 ======== ======== Primary net income per common share $ 0.22 ======== Primary weighted average number of common and common equivalent shares outstanding 16,448 ======== Pro forma net income per common share $ 0.05 ======== Pro forma weighted average number of common and common equivalent shares outstanding 13,752
EX-99.2 3 PRESS RELEASE ISSUED 10/31/97 Exhibit 99.2 LIGHTBRIDGE, INC. ANNOUNCES STOCK OFFERING BURLINGTON, Mass. - October 31, 1997 - Lightbridge, Inc. (NASDAQ:LTBG) announced today its intent to file a registration statement with the Securities and Exchange Commission in late November 1997 relating to a public offering, to be underwritten on a firm commitment basis, of approximately 2,500,000 shares of Lightbridge's common stock, including 1,000,000 shares to be issued and sold by Lightbridge. The net proceeds of the offering received by Lightbridge are expected to be used for working capital and general corporate purposes. The remaining shares will be sold by certain stockholders of Lightbridge. Any offering of the common stock of Lightbridge may be made only by means of a prospectus, and this announcement is neither an offer to sell nor a solicitation of any offer to purchase such shares. -----END PRIVACY-ENHANCED MESSAGE-----