8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 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) June 18, 2003

                                LIGHTBRIDGE, INC.
               (Exact Name of Registrant as Specified in Charter)


        DELAWARE                     000-21319                  04-3065140
(State or Other Jurisdic-           (Commission                (IRS Employer
  tion of Incorporation)            File Number)             Identification No.)

            67 SOUTH BEDFORD STREET, BURLINGTON, MASSACHUSETTS 01803
               (Address of Principal Executive Offices) (Zip Code)

        Registrant's telephone number, including area code (781) 359-4000


                                 NOT APPLICABLE
          (Former Name or Former Address, if Changed Since Last Report)


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ITEM 5. OTHER EVENTS.

      On June 18, 2003, Lightbridge, Inc., a Delaware corporation ("Lightbridge"
or the "Company"), announced a reorganization of its business to more
efficiently meet client needs and to respond to current economic conditions. The
Company also announced that Christine Cournoyer, President and Chief Operating
Officer, will leave the Company in July and Chief Executive Officer, Pamela D.A.
Reeve, will assume her duties.

      For the second quarter of 2003, the Company expects to record a
restructuring charge of approximately $700,000, in addition to the restructuring
charge of approximately $1.0 million announced earlier in the year for the
facilities consolidation in Broomfield, Colorado. The Company also expects
related and additional restructuring charges of approximately $3.6 million in
the third quarter and $200,000 in the fourth quarter of 2003. When fully
implemented, the action is expected to produce $7.0 to $8.0 million in
annual pre-tax cost savings, exclusive of new investments.

      Components of the reorganization include the closing of the Company's
Irvine, California facility, the transfer of key employment positions to its
Broomfield, Colorado facility, a headcount reduction of an estimated 70
positions, and future headcount additions in strategic business areas.

      The Company also reaffirmed its revenue guidance of $27.0 to $29.0 million
for the second quarter of 2003. At the same time, the Company reported it
expects a second quarter loss of $0.04 to $0.07 per share, after giving effect
to the restructuring charges.

      A copy of the press release issued by Lightbridge on June 18, 2003, which
commented on the actions described above, is included as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated by reference herein.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

      (c)   Exhibits.

      99.1 Press Release dated June 18, 2003, entitled "Lightbridge Announces
Reorganization to Lower Fixed Costs."

      ------------

      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.

                                 LIGHTBRIDGE, INC.

                                 By: /s/ Harlan Plumley
                                     -----------------------------------------
                                     Harlan Plumley
                                     Vice President, Finance and Administration,
                                     Chief Financial Officer and Treasurer

June 19, 2003

EX-99.1

                                  EXHIBIT 99.1

            LIGHTBRIDGE ANNOUNCES REORGANIZATION TO LOWER FIXED COSTS

 Company expects $7.0-$8.0 million in annual pre-tax cost savings, exclusive of
                                  investments

                   President and COO announces July departure

BURLINGTON, MA - JUNE 18, 2003 -- Lightbridge, Inc. (Nasdaq: LTBG), a global
enabler of mobile and online business solutions, today announced a
reorganization of its business to more efficiently meet client needs and to
respond to current economic conditions. The Company also announced that
Christine Cournoyer, President and Chief Operating Officer, will leave the
Company in July and Chief Executive Officer, Pamela D.A. Reeve, will assume her
duties.

For the second quarter of 2003, the Company expects to record a restructuring
charge of approximately $700,000, in addition to the restructuring charge of
approximately $1.0 million announced earlier in the year for the facilities
consolidation in Broomfield, Colorado. The Company also expects related and
additional restructuring charges of approximately $3.6 million in the third
quarter and $200,000 in the fourth quarter of 2003. When fully implemented,
today's action is expected to produce $7.0 to $8.0 million in annual pre-tax
cost savings, exclusive of new investments.

Components of the reorganization include the closing of the Company's Irvine,
California facility, the transfer of key employment positions to its Broomfield,
Colorado facility, a headcount reduction of an estimated 70 positions, and
future headcount additions in strategic business areas.

Pamela D. A. Reeve, Chief Executive Officer commented, "While the Company enjoys
a very strong balance sheet, we continually review the performance of our
business segments, facilities, products and vendor relationships. Today's action
will reduce our fixed costs and, more importantly, will improve our efficiency
in developing and supporting products and services. I am grateful to all the
talented individuals who are adversely affected by today's action for their
contributions to the Company."

Ms. Reeve concluded, "I want to thank our president and chief operating officer,
Christine Cournoyer, who has done an excellent job of helping us make the
appropriate investments in staffing, internal systems and client management. I
wish her well with her new endeavors."

SECOND QUARTER 2003 REVENUE GUIDANCE REAFFIRMED

The Company also reaffirmed its revenue guidance of $27.0 to $29.0 million for
the second quarter of 2003. At the same time, the Company reported it expects a
second quarter loss of $0.04 to $0.07 per share, after giving effect to the
restructuring charges. Lightbridge has scheduled its second quarter 2003
financial results press release and conference call for Wednesday, July 23,
2003. Please visit the Event Calendar section of www.lightbridge.com for
additional details.

About Lightbridge, Inc.

Lightbridge is a global enabler of mobile and online business solutions,
offering software and services designed to maximize the lifetime value of
customers, minimize risk, and drive profitability. Lightbridge real-time
applications qualify customers, assess credit, screen for fraud, authenticate
customers, monitor transaction behavior and limit identity theft.

Since 1989, Lightbridge has helped wireless carriers reduce the risks associated
with `faceless transactions.' Today's Lightbridge is applying that carrier-grade
reliability and scalability to global e-businesses to minimize customer risk
with effective, efficient automated processes. Our combined solutions and
services are designed to create a trusted environment for customers, while
safeguarding business information and transactions. Businesses supported by
Lightbridge can have the competitive edge to transform prospects into profitable
lifetime customers, whether transactions are completed on wired, wireless, or
Internet devices. Visit us at http://www.lightbridge.com or call 800-LIGHTBR.

Contacts:

         Glen Zimmerman                            Susan Griffin
         Media Relations                           Investor Relations
         Lightbridge, Inc.                         Lightbridge, Inc.
         781/359-4705                              781/359-4854
         gzimmerman@lightbridge.com                sgriffin@lightbridge.com

LIGHTBRIDGE and the Lightbridge logo are registered trademarks of Lightbridge,
Inc. All other trademarks or registered trademarks are the properties of their
respective owners.

                                       ###

Forward-looking Statements

Certain statements in this news release that are not statements of historical
facts may constitute forward-looking statements, including, without limitation,
those relating to the impact of restructurings on the Company's business and
operations, and financial results, the Company's financial guidance for the
quarter and the Company's business objectives. Actual results may vary
materially from those contained in forward- looking statements based on a number
of factors including, without limitation, (i) dependence on a limited number of
clients, (ii) the Company's revenue concentration in the wireless
telecommunications business and the declining subscriber growth rate in that
business, (iii) the adverse impact that the financial and operating difficulties
of the Company's clients may have on the Company's future revenues, and
financial and operating results, (iv) continuing rapid change in the
telecommunications industry and other markets in which the Company does business
that may affect both the Company and its clients, (v) current and future
economic conditions generally and particularly in the telecommunications
industry including, without limitation, decreases or delays in capital spending
by carriers and global economic recession, (vi) the Company's ability to execute
on its objectives, plans or strategies including, without limitation its plans
to manage costs, increase penetration in the wireless markets and expand into
online markets, (vii) economic and political instability in the domestic and
international markets including, without limitation, the impact of terrorist
threats and hostilities and the declaration of war or similar actions, (viii)
the impact of restructuring and other charges on the Company's business and
operations, and (ix) the factors disclosed in the Company's filings with the
U.S. Securities and Exchange Commission including, without limitation, its 2002
Annual Report on Form 10-K. The Company undertakes no obligation to update any
forward-looking statements.