-----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, GPlsQ7sHNmwSMh8SNUSc0CSF2YcjWPq2JKEpmZ90tWLkZ4K0c0LdFffhEXH7mJp4 JRiDL2RCKnN5hTis5y0KWA== 0001275287-05-001090.txt : 20050329 0001275287-05-001090.hdr.sgml : 20050329 20050329141122 ACCESSION NUMBER: 0001275287-05-001090 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050329 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050329 DATE AS OF CHANGE: 20050329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPHERIX INC CENTRAL INDEX KEY: 0000012239 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT [8700] IRS NUMBER: 520849320 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-05576 FILM NUMBER: 05709166 BUSINESS ADDRESS: STREET 1: 12051 INDIAN CREEK CT CITY: BELTSVILLE STATE: MD ZIP: 20705 BUSINESS PHONE: 3014193900 MAIL ADDRESS: STREET 1: 12051 INDIAN CREEK COURT CITY: BELTSVILLE STATE: MD ZIP: 20705 FORMER COMPANY: FORMER CONFORMED NAME: BIOSPHERICS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BIOSPHERICS RESEARCH INC DATE OF NAME CHANGE: 19720404 8-K 1 si2331.txt ================================================================================ UNITED STATES 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) March 29, 2005 SPHERIX(R) INCORPORATED ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 0-5576 52-0849320 ---------------------------- ------------ ------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 12051 Indian Creek Court, Beltsville, Maryland 20705 ---------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 301-419-3900 Not Applicable -------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ================================================================================ SECTION 2 - FINANCIAL INFORMATION. Item 2.02. Results of Operations and Financial Condition. On March 29, 2005, the Registrant issued a press release regarding its financial results for the year ended December 31, 2004. A copy of the press release is attached hereto as Exhibit 99.1. The information provided in this Current Report on Form 8-K is being provided pursuant to Item 2.02 of Form 8-K. The information in this report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such a filing. SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS. Item 9.01. Financial Statements and Exhibits. Exhibit 99.1 - Press Release dated March 29, 2005. 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. Spherix Incorporated (Registrant) By: /s/ Richard C. Levin --------------------- Richard C. Levin CEO and President Date: March 29, 2005 EX-99.1 2 si2331ex991.txt Exhibit 99.1 SPHERIX REPORTS 2004 FINANCIAL RESULTS AND REVENUE GROWTH BELTSVILLE, Md., March 29 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX) today reports an overall growth in revenue of 24%, from $18.1 million in 2003, to $22.3 million in 2004, with an increase in sales backlog of $32 million for 2004. The Company's net loss for the year ended December 31, 2004, was $2.8 million, $0.24 per share, compared with a net loss of $2.3 million, $0.20 per share for 2003. Revenue for the InfoSpherix Division increased 30 percent between years, adding an additional $5.2 million over the Division's revenue from the prior year. The Division's increased revenue was achieved from the addition of five new government contracts that the Company won late in 2003 and in early 2004, and from the purchase of six other state and county government reservation contracts in March 2004 from Daksoft, Inc. These additions have provided the Company with a record sales backlog of approximately $60 million. The BioSpherix Division's revenue decreased between years as a result of the one time recognition of $1 million in 2003 as part of the arbitration settlement with Arla Foods. The Company's increased loss in 2004 was due in part to increased InfoSpherix marketing costs between years, the relocation of the Cumberland operations to a larger facility in the same area, and to the temporary addition of a Rapid City, South Dakota, contact center related to the Company's asset purchase agreement with Daksoft, Inc. Now that the Company has settled into its new facility in Cumberland, it expects to run the operations more profitably in 2005 and reduce some of its direct and indirect costs. In addition, the Company plans to relocate the operations of the Rapid City, South Dakota business to its Maryland facilities by the end of 2005. Richard C. Levin, CEO and President, said, "We are encouraged by the sizeable growth in our existing backlog. This, combined with the current programs available for bid, should allow for further revenue growth in the coming year. Our challenge will be to manage this growth more profitably while maintaining our reputation for customer service in the industry." For the Year Ended December 31 ------------------------------- 2004 2003 -------------- -------------- Revenue $ 22,348,418 $ 18,086,711 Operating expense 25,193,911 20,361,357 (Loss) income from operations (2,845,493) (2,274,646) Net (loss) income $ (2,822,046) (2,256,770) Net (loss) income per share, diluted $ (0.24) $ (0.20) Certain statements contained herein are "forward looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on March 3, 1999. Under its motto, "A World of Solutions," Spherix's mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in information technology, knowledge management, and biotechnology. Spherix's Internet address is http://www.spherix.com. SOURCE Spherix Incorporated -0- 03/29/2005 /CONTACT: Kathy Brailer of Spherix Incorporated, +1-301-419-3900, or kbrailer@spherix.com/ /Web site: http://www.spherix.com/ -----END PRIVACY-ENHANCED MESSAGE-----