0000950168-01-500988.txt : 20011029
0000950168-01-500988.hdr.sgml : 20011029
ACCESSION NUMBER: 0000950168-01-500988
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011022
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20011023
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: J2 GLOBAL COMMUNICATIONS INC
CENTRAL INDEX KEY: 0001084048
STANDARD INDUSTRIAL CLASSIFICATION: TELEGRAPH & OTHER MESSAGE COMMUNICATIONS [4822]
IRS NUMBER: 510371142
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-25965
FILM NUMBER: 1764466
BUSINESS ADDRESS:
STREET 1: 6922 HOLLYWOOD BLVD
STREET 2: SUITE 900
CITY: LOS ANGELES
STATE: CA
ZIP: 90028
BUSINESS PHONE: 3238609200
MAIL ADDRESS:
STREET 1: 6922 HOLLYWOOD BLVD
STREET 2: SUITE 900
CITY: LOS ANGELES
STATE: CA
ZIP: 90028
FORMER COMPANY:
FORMER CONFORMED NAME: JFAX COM INC
DATE OF NAME CHANGE: 19990413
8-K
1
d8k.txt
FORM 8-K
UNITED STATES
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 22, 2001
j2 Global Communications, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-25965 51-0371142
(State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
6922 Hollywood Blvd.
Suite 800
Los Angeles, California 90028
(Address of principal executive offices)
(323) 860-9200
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On October 22, 2001, j2 Global Communications, Inc., a Delaware corporation
("j2"), announced its financial results for the fiscal quarter ended September
30, 2001. A copy of j2's press release announcing these financial results is
attached to this report as Exhibit 99.1 and is incorporate herein by reference.
The press release filed as an exhibit to this report includes "safe harbor"
language pursuant to the Private Securities Litigation Reform Act of 1995, as
amended, indicating that certain statements
about j2's business contained in the press release are "forward-looking" rather
than "historic." The press release also states that a more thorough discussion
of certain factors which may affect j2's operating results is included in j2's
Amended Annual Report on Form 10-K/A for the fiscal year ended December 31, 2000
and j2's Quarterly Report on Form 10-Q for the period ended June 30, 2001 which
are on file with the Securities and Exchange Commission and available at the
Securities and Exchange Commission's website (http://www.sec.gov), and will also
be included in j2's Quarterly Report on Form 10-Q for the fiscal quarter ended
September 30, 2001 to be filed with the Securities and Exchange Commission in
the near future.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) EXHIBITS
The following exhibit is filed as part of this report:
Exhibit
Number Description
------- -----------
99.1 Press Release issued October 22, 2001.
SIGNATURES
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.
j2 Global Communications, Inc.
(Registrant)
By: /s/ Jeffrey D. Adelman
-------------------------------
Date: October 22, 2001 Jeffrey D. Adelman
Vice President, General Counsel and Secretary
INDEX TO EXHIBITS
Exhibit
Number Description
------- -----------
99.1 Press Release issued October 22, 2001.
EX-99.1
3
dex991.txt
PRESS RELEASE
EXHIBIT 99.1
Media Contact At j2 Global Communications
------------- ---------------------------
Jenni Benzaquen/Steven Greene Jeff Adelman or Scott Turicchi
Sperling Greene Associates j2 Global Communications, Inc.
310-548-5493/201-871-0856 (323) 372-3617
jenni benzaquen@hotmail.com investorinfo@j2.com
---------------------------- -------------------
j2 Global Communications, Inc. Reports Q3 2001 Revenues
Increased 163% from Q3 2000
EBITDA Grew to a Positive $883,000, Marking j2's Sixth
Consecutive Quarter of EBITDA Improvement
HOLLYWOOD, California, October 22, 2001 -- j2 Global Communications, Inc.
(NASDAQ: JCOM), a pioneer in unified messaging and communications services,
today reported financial results for the third quarter ended September 30, 2001.
Third quarter revenues for the Company rose 163% vs. last year and revenues grew
9.3% vs this year's second quarter. EBITDA was $883,000 vs. prior year
$(4,658,000) and rose 51.9% vs. the second quarter of this year. In addition,
earnings (before amortization of goodwill and intangibles) were $270,000 vs.
prior year $(4,767,000) and rose more than ten fold vs. the second quarter of
this year.
Key financial results for the quarter and comparisons versus the year-ago
quarter are as follows:
Quarter Quarter
ended ended
Q3 '01 Q3 '00
------------ -------------
Revenues $8.6 million $3.3 million
Gross Profit $5.2 million $1.6 million
EBITDA (Loss) $0.9 million ($4.7 million)
Earnings (Loss) $0.3 million ($4.8 million)
(Before amortization of goodwill and intangibles)
Earnings (Loss) Per Share $0.02 ($0.53)
(Before amortization of goodwill and intangibles)
The financial results set forth above are inclusive of eFax.com from November
29, 2000, the date j2 acquired eFax.com.
"Our excellent third quarter results confirm again the strength of our company,"
said Richard Ressler, j2's Chairman. "In the second quarter our revenue grew to
a level resulting in $25,000 of earnings before amortization of goodwill and
intangibles. In the third quarter those economies of scale, combined with our
seventeenth consecutive quarter of revenue growth, resulted in a more than
ten-fold increase in earnings before amortization of goodwill and intangibles.
These results demonstrate the power of our business model, as over 41% and 33%,
respectively, of our quarter-to-quarter revenue
increase fell right to the EBITDA and Earnings (before amortization of goodwill
and intangibles) lines."
"We are extremely pleased with our third quarter financial performance,
especially in light of the parade of negative economic news that has followed
the tragic events of September 11th," said Scott Jarus, President of j2. "Even
more important, we continued to solidify our position as the premier provider of
easy to use, cost effective and secure unified messaging and communications
solutions."
j2's third quarter conference call will be broadcast live over the Internet on
October 22, 2001 at 4:30 p.m. Eastern. During the call, the Company will review
its presentation for investors, which will be posted on the Company's Website at
www.j2.com and filed with the Securities and Exchange Commission pursuant to
----------
Regulation FD.
What: j2 Global Communications, Inc. Third Quarter Earnings Release
When: October 22, 2001, 4:30 p.m. Eastern
Where: http://www.videonewswire.com/event.asp?id=1551
----------------------------------------------
How: Live over the Internet -- Simply log on to the Web at the address
above
Contact: Scott Turicchi at investorinfo@j2.com
-------------------
Questions for the call will be taken via email at investorinfo@j2.com, and can
-------------------
be sent at anytime prior to or during the Webcast.
If you are unable to participate during the live Webcast, the call and the
presentation will be archived at http://www.videonewswire.com/event.asp?id=1551.
----------------------------------------------
(Minimum Requirements to listen to broadcast: The Windows Media Player software,
downloadable free from www.microsoft.com/windows/windowsmedia/EN/default.asp,
-----------------------------------------------------
and at least a 28.8Kbps connection to the Internet. If you experience problems
listening to the broadcast, send an email to isproducers@prnewswire.com.)
--------------------------
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
1995: This press release contains forward-looking statements relating to future
events or future financial performance that involve risks and uncertainties.
Such statements can be identified by terminology such as "may," "will," "is
confident," "should," "expects," "plans," "anticipates," "believes,"
"estimates," "predicts," "potential" or "continue" or the negative of such terms
or comparable terms. These statements are only predictions and actual results
could differ materially from those anticipated in these statements based upon a
number of factors including final adjustments made in closing the quarter and
those identified in the Company's filings with the SEC.
About j2 Global Communications
Founded in 1995, j2 Global Communications, Inc. is a leading provider of
enhanced value-added messaging and communications services with over 4.6 million
customers around the world. j2's access network spans 550 cities in 14 countries
on 4 continents. The Company sells its patented services through three distinct
sales channels: Web, Corporate and Licensed Services; and markets those services
under the eFax(R) and jConnect(TM) brands. j2's industry accolades include the
Deloitte & Touche Fast 50 Award, Forbes Best of the Web Award, PC Magazine's Top
100 Websites Award, British Telecom's Tech Award and many others.
For more information about j2, please visit www.j2.com.
----------
j2 GLOBAL COMMUNICATIONS, INC.
Condensed Consolidated Statement of Operations
(Unaudited)
(in thousands, except per share amounts)
Three months ended Nine months ended
September 30, September 30,
------------------------- -------------------------
2001 2000 2001 2000
---------- --------- ---------- ---------
Revenues
Subscriber $ 8,329 $ 3,266 $ 22,034 9,139
Hardware -- -- 742 --
Other 268 -- 896 --
---------- --------- ---------- ---------
Total revenue 8,597 3,266 23,672 9,139
Cost of revenue
Subscriber 3,387 1,709 9,504 4,747
Other -- -- 450 --
---------- --------- ---------- ---------
Total cost of revenue 3,387 1,709 9,954 4,747
Gross profit 5,210 1,557 13,718 4,392
Operating expenses:
Sales and marketing 1,125 2,549 3,313 7,167
Research and development 709 767 1,890 2,120
General and administrative 3,381 3,711 10,600 11,483
Amortization of goodwill and other intangibles 1,727 1,141 5,197 2,942
---------- --------- ---------- ---------
Total operating expenses 6,942 8,168 21,000 23,712
Operating Loss (1,732) (6,611) (7,282) (19,320)
Other income (expense), net 275 703 1,076 2,178
Net Loss (1,457) (5,908) (6,206) (17,142)
---------- --------- ---------- ---------
Net loss attributable to common stockholders $ (1,457) $ (5,908) $ (6,206) (17,142)
========== ========= ========== =========
Basic and diluted net loss per common share:
Loss before acquisition related amortization
of goodwill and other intangibles $ 0.02 $ (0.53) $ (0.09) (1.60)
Loss from amortization of goodwill and other
intangibles (0.15) (0.13) (0.47) (0.32)
---------- --------- ---------- ---------
Net Loss Per Share $ (0.13) $ (0.66) $ (0.56) $ (1.92)
========== ========= ========== =========
Weighted average shares outstanding 11,239,198 9,005,895 11,126,514 8,897,921
========== ========= ========== =========
j2 GLOBAL COMMUNICATIONS, INC.
Condensed Consolidated Balance Sheets
(Unaudited)
(in thousands)
ASSETS September 30, 2001 December 31, 2000
------------------ -----------------
Cash and cash equivalents $ 22,816 $ 23,824
Short-term investments 0 1,963
Accounts receivable, net 2,865 2,443
Prepaid expenses and other 2,273 2,047
------------------ -----------------
Total current assets 27,954 30,277
Furniture, fixtures and equipment, net 5,629 6,214
Goodwill, net 16,857 20,759
Other purchased intangibles, net 1,771 2,945
Long-term investments 0 2,320
Other assets 1,835 2,790
------------------ -----------------
Total assets $ 54,046 $ 65,305
================== =================
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses $ 3,440 $ 5,298
Accrued exit costs 1,098 2,106
Deferred revenue 1,117 1,485
Current portion of capital lease payable 390 295
Current portion of long-term debt 761 1,285
Other 282 132
------------------ -----------------
Total current liabilities 7,088 10,601
Capital lease obligations 0 168
Long-term debt 0 416
------------------ -----------------
Total liabilities 7,088 11,185
Redeemable common stock 0 7,065
Common stock subject to put option 998 998
Total stockholders' equity 45,960 $ 46,057
------------------ -----------------
Total liabilities and stockholders' equity $ 54,046 $ 65,305
================== =================