0001104659-11-018819.txt : 20110406 0001104659-11-018819.hdr.sgml : 20110406 20110406070415 ACCESSION NUMBER: 0001104659-11-018819 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20110406 FILED AS OF DATE: 20110406 DATE AS OF CHANGE: 20110406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HiSoft Technology International Ltd CENTRAL INDEX KEY: 0001493639 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34790 FILM NUMBER: 11741962 BUSINESS ADDRESS: STREET 1: 33 LIXIAN STREET STREET 2: QIXIANLING INDUSTRIAL BASE, HI-TECH ZONE CITY: DALIAN STATE: F4 ZIP: 116023 BUSINESS PHONE: 86-411-8455-6655 MAIL ADDRESS: STREET 1: 33 LIXIAN STREET STREET 2: QIXIANLING INDUSTRIAL BASE, HI-TECH ZONE CITY: DALIAN STATE: F4 ZIP: 116023 6-K 1 a11-9776_16k.htm 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2011

 

Commission File Number: 001-34790

 

HiSoft Technology International Limited

 

33 Lixian Street

Qixianling Industrial Base

Hi-Tech Zone, Dalian 116023

People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F     x  Form 40-F     o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):     o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):     o

 

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

 

Yes    o No    x

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

 

 

 



 

TABLE OF CONTENTS

 

Exhibit 99.1 — Press release

 

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, thereunto duly authorized.

 

 

HISOFT TECHNOLOGY INTERNATIONAL LIMITED

 

 

 

By:

/s/ Tiak Koon Loh

 

Name:

Tiak Koon Loh

 

Title:

Chief Executive Officer

 

 

Date: April 6, 2011

 

3


 

EX-99.1 2 a11-9776_1ex99d1.htm EX-99.1

Exhibit 99.1

 

Global Partner for Success

 

HiSoft Schedules Investor Conference Call to Discuss Impact of Japan Earthquake and Tsunami

 

Company Reaffirms Long-term Commitment to Japanese Market

 

BEIJING, April 5, 2011 — HiSoft Technology International Limited (“HiSoft” or the “Company”) (NASDAQ: HSFT), a leading China-based provider of outsourced information technology and research and development services headquartered in Dalian, China, today announced the estimated impact on its business and results of operations from  the Japan earthquake and tsunami that struck the northeastern coast of Japan on March 11, 2011. The Company also announced it will hold a conference call with analysts and investors on Tuesday, April 5, 2011, at 6:00 p.m. Eastern Time to discuss this update in more detail.

 

In response to unfolding safety concerns at the damaged nuclear facility in Fukushima, Japan following the earthquake and tsunami, the Company incurred relocation expenses associated with relocating its nearly 200 Japan-based employees and their families starting on March 14, 2011. Those employees and their families were given the option of being relocated to Osaka, Japan or to China to work out of these alternative locations, after consultation with the Company’s clients.

 

“Employee safety is our main priority as we confront these unexpected tragic events in Japan and this is why we made the decision to relocate our employees and their families,” stated HiSoft Chief Executive Officer Tiak Koon Loh. “Over the last few weeks, we have been relieved to see daily life and businesses in Tokyo gradually return to normal. Most of our employees have safely returned to Tokyo and resumed work with our clients.”

 

As a result, in the first quarter of 2011, HiSoft experienced additional operating expenses of approximately $0.7 million, or approximately US$0.02 per non-GAAP diluted earnings per American depositary share (“ADS”), and loss of revenue from work interruptions of approximately $0.6 million, or approximately US$0.02 per non-GAAP diluted earnings per ADS.  The additional operating expenses and revenue reduction totaled approximately $0.04 per non-GAAP diluted earnings per ADS, in the first quarter of 2011, based on 32.3 million weighted average ADSs outstanding.

 

“The United States and Europe is our largest market and while we continue to experience strong demand in this region, Japan is our oldest market representing approximately 23% of our net revenues in 2010,” said Mr. Loh. “Through our meetings with significant clients over the last two weeks we expect to see a slowdown in contract signing in the short-term as there are challenges and uncertainties for some clients, especially those in the manufacturing and insurance sectors, to proceed with planned IT projects because of new and changing operational priorities. Our goal during this time is to maintain close relationships with those clients while positioning ourselves for new opportunities in the future. As such we will maintain key resources for our significant clients even with a slowdown in their IT spending over the short-term.”

 

In view of the above as a direct result of the Japan earthquake and tsunami, the Company believes it is most prudent to provide an updated financial outlook for the remainder of 2011 based on its current views and assessment of the events that have continued to transpire and unfold in Japan.  The Company expects full year 2011 net revenues to be reduced by less than 2% from its previously announced forecast of US$198 million due to the natural disasters in Japan.  Accordingly, the Company has updated its full year 2011 net revenues forecast to be at least US$194.5 million, with non-GAAP diluted earnings per ADS expected to be in the estimated range of US$0.76 to US$0.80, based on 32.8 million weighted average ADSs outstanding. The Company noted that this updated forecast of estimated net revenues and non-GAAP diluted earnings per ADS may be adversely and materially affected should the situation in Japan, as a result of the March 11, 2011 earthquake and tsunami and the subsequent nuclear threat from Fukushima, continue to worsen in the future.

 

Mr. Loh concluded, “While the current situation in Japan may present near-term challenges and uncertainties, we believe the market will show increased demand for our IT services over the long-term as Japan rebuilds itself.  In recent dialogs with our clients in Japan, a number of them have expressed increased interest in offshoring as part of their business continuity planning.  We also believe that the increased infrastructure spending in 2011 to rebuild Japan will increase business activities across many industry segments.  Again, I want to emphasize that we remain fully committed to the Japanese market and are optimistic about its rebound.”

 

HiSoft Technology International Limited  ~  6/F Haya Plaza, No.1 Shangdi East Road Haidian District Beijing, China 100085

 



 

Conference Call Details

 

HiSoft management will hold a conference call on Tuesday, April 5, 2011 at 6:00 p.m. Eastern Time (Wednesday, April 6, 2011 at 6:00 a.m. Beijing/Hong Kong Time).  Analysts and investors interested in hearing more information regarding HiSoft’s Japan developments are encouraged to join the Company for its conference call at the following:

 

U.S. Toll Free: 1-800-860-2442

International Dial In: +1-412-858-4600

 

The conference call will also be broadcast live over the Internet and can be accessed by clicking the following link: http://www.mzcan.com/cancast/us/index.php?id=usHSFT_20&version=e

 

Additionally, an archived webcast of this call will be available on the Investor Relations section of the HiSoft web site at http://www.hisoft.com

 

Forward-looking Statements

 

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs about future events and financial, political and social trends and assumptions it has made based on information currently available to it. HiSoft cannot assure that any expectations, forecasts or assumptions made by management in preparing these forward-looking statements will prove accurate, or that any projections will be realized, in particular in light of the uncertainties with respect to the earthquake and tsunami that that struck the northeastern coast of Japan on March 11, 2011 and the subsequent nuclear threat from the nuclear power stations in Fukushima, Japan. Such forward-looking statements may be affected by inaccurate assumptions or by known or unknown risks or uncertainties. Actual results may vary materially from those expressed or implied by the statements herein. For factors that could cause actual results to vary, perhaps materially, from these forward-looking statements, please refer to the HiSoft’s filings with the Securities and Exchange Commission. Forward-looking statements contained herein speak only as of the date of this release. HiSoft does not undertake any obligation to update or revise publicly any forward-looking statements, whether to reflect new information, future events or otherwise.

 

About HiSoft Technology International Limited

 

HiSoft Technology International Limited (NASDAQ: HSFT) is a leading China-based provider of outsourced information technology and research and development services headquartered in Dalian, China. HiSoft provides its services to leading companies around the world through a combination of onshore and offshore delivery capabilities. HiSoft leverages its skilled technology specialists and client-centric delivery centers to offer customers reliable and high-quality technology solutions. For more information about HiSoft, please visit http://www.hisoft.com.

 

For investor and media inquiries please contact:

 

In China:

 

Ross Warner

HiSoft Technology International Limited

Tel: +86-10-5987-5865

Email: investor_relations@hisoft.com

 

Agustin Bautista

Ogilvy Financial, Beijing

Tel: +86-10-8520-6166

Email: hsft@ogilvy.com

 

In the U.S.:

 

Jessica Barist Cohen

Ogilvy Financial, New York

Tel: +1-646-460-9989

Email: hsft@ogilvy.com

 

www.hisoft.com  ~  +86.10.5987.5566

 


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