-----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, A2yvwE0cVeg3iIq4LXAbEFtsGVSQLHW/oCYk4YgI8Z5e7nRgZTObBe1J3jL5w4lN mzUmdxpWgx0beeho37WJhQ== /in/edgar/work/20000622/0000941157-00-000073/0000941157-00-000073.txt : 20000920 0000941157-00-000073.hdr.sgml : 20000920 ACCESSION NUMBER: 0000941157-00-000073 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000622 ITEM INFORMATION: FILED AS OF DATE: 20000622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMPUTER TASK GROUP INC CENTRAL INDEX KEY: 0000023111 STANDARD INDUSTRIAL CLASSIFICATION: [7371 ] IRS NUMBER: 160912632 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09410 FILM NUMBER: 659293 BUSINESS ADDRESS: STREET 1: 800 DELAWARE AVE CITY: BUFFALO STATE: NY ZIP: 14209 BUSINESS PHONE: 7168828000 MAIL ADDRESS: STREET 1: 800 DELAWARE AVE CITY: BUFFALO STATE: NY ZIP: 14209 FORMER COMPANY: FORMER CONFORMED NAME: MARKS BAER INC DATE OF NAME CHANGE: 19690128 8-K 1 0001.txt FORM 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) March 31, 2000 COMPUTER TASK GROUP, INCORPORATED (Exact name of registrant as specified in its charter) New York 1-9410 16-0912632 - -------------------------------------------------------------------------------- (State or other (Commission File Number) (IRS Employer jurisdiction of incorporation) Identification No.) 800 Delaware Avenue, Buffalo, NY 14209 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (716) 882-8000 Not Applicable - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 5. Other Matters (a) On March 31, 2000, the Registrant issued the press release that is attached hereto as Exhibit 99, and which is incorporated herein by reference. (b) Exhibits. 99 - Press Release, dated March 31, 2000, issued by Computer Task Group, Incorporated. 2 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 thereunto duly authorized. COMPUTER TASK GROUP, INCORPORATED (Registrant) Date: March 31, 2000 By: \S\ James R. Boldt -------------------------- James R. Boldt Vice President and Chief Financial Office 3 EX-99 2 0002.txt EXHIBIT 99 N E W S R E L E A S E CONTACTS: Investors: Media: James R. Boldt Greg Ossmann Vice President & Chief Financial Officer CTG Director of Public Relations (716) 887-7221 (513) 564-0909 ext. 1762 CTG Announces Revised Estimates and Restructuring Charge One-time Charge To Align CTG's Costs As It Repositions Business BUFFALO, N.Y. -- March 31, 2000 -- CTG (NYSE: TSK), an international information technology (IT) and e-business solutions company, today announced that it currently anticipates 2000 revenues will be in the range of $420 to $450 million because IT spending has not returned to the levels the company expected. Excluding the restructuring charge described below, earnings for 2000 are estimated at $0.40 to $0.60 per diluted share based on currently available information. The company added that it will continue to make significant investments in e-business and enterprise-wide solutions in 2000. In the first quarter of 2000, CTG will also take an after-tax restructuring charge of $3.5 to $3.8 million or $0.21 to $0.23 per diluted share for costs primarily associated with severance. This charge allows the company to align its costs with the strategic business focus announced earlier in the year. Excluding the one-time restructuring charge, CTG expects to report a first quarter 2000 net loss in the range of $0.05 to $0.07 per diluted share reflecting lower than anticipated revenues and costs for investments in e-business. Final results for the quarter will be released after the close of the market on April 17, 2000. "Taking the charge now clears the way for CTG to reposition itself for the growth anticipated for the IT services market in the second half of the year," said CTG Chairman and Chief Executive Officer Gale S. Fitzgerald. "We will increase our competitiveness and market reach in our ITCapital staffing business, sharpen our focus in the application and systems management business of Exemplar and capitalize on the strategy for Zenius, our e-business solutions venture. In addition, CTG HealthCare Solutions has created new services to take advantage of opportunities in the rapidly changing health care market." -- MORE -- 2 Backed by more than 30 years' experience, CTG provides business consulting, e-business, and IT management solutions to help Global 2000 clients focus on their core business and use IT as a competitive advantage to excel in their markets. CTG combines a deep understanding of the business power of the Internet with integrated, end-to-end services, proprietary service methodologies, and CTG's proven track record of delivering solutions that work. With more than 4,500 IT and business consulting professionals worldwide, CTG generated revenues of $472 million in 1999. More information about CTG is available on the Web at http://www.ctg.com. This document contains certain forward-looking statements concerning the Company's current expectations as to future growth. These statements are based upon a review of industry reports, current business conditions in the areas where the Company does business, the availability of qualified professional staff and other factors which involve risk and uncertainty. As such, actual results may differ materially in response to a change in such factors. Such forward-looking statements should be read in conjunction with the Company's disclosures set forth in the Company's 1999 Form 10-K and the Management's Discussion and Analysis section of the Company's 1999 annual report, which are incorporated by reference. -- END -- Today's news release, along with CTG news releases for the past year, is available by fax at no charge by calling Corporate News on the Net at (800) 742-7505 or on the World Wide Web at: http://www.ctg.com. -----END PRIVACY-ENHANCED MESSAGE-----