-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, XbW7Cc7nCGlZ943WsiMn1wY+fw/qvw36BNw2Upy4CQnB/qjR6wy9e/7WtikZfRwW uv2ddGeVWA2DCjq++he3zw== 0000914039-95-000075.txt : 199506300000914039-95-000075.hdr.sgml : 19950630 ACCESSION NUMBER: 0000914039-95-000075 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19941231 FILED AS OF DATE: 19950629 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ANALYSIS & TECHNOLOGY INC CENTRAL INDEX KEY: 0000310876 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING SERVICES [8711] IRS NUMBER: 952579365 STATE OF INCORPORATION: CT FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-14161 FILM NUMBER: 95550840 BUSINESS ADDRESS: STREET 1: TECHNOLOGY PARK RTE 2 STREET 2: PO BOX 220 CITY: NORTH STONINGTON STATE: CT ZIP: 06359 BUSINESS PHONE: 2035993910 MAIL ADDRESS: STREET 1: TECHNOLOGY PARK RTE 2 STREET 2: P O BOX 220 CITY: NORTH STONINGTON STATE: CT ZIP: 06359 11-K 1 11-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K ___________________ [X] ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended: December 31, 1994 OR [ ] TRANSACTION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from _______ to _______ Commission file number: 33-34004 ___________________ A. Full title of the plan and the address of the plan, if different from that of the issuer named below: ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: ANALYSIS & TECHNOLOGY, INC. ROUTE 2, P.O. BOX 220 NORTH STONINGTON, CONNECTICUT 06359 2 REQUIRED INFORMATION The following documents, which are attached hereto as Appendices, are hereby furnished for the Analysis & Technology, Inc. Savings and Investment Plan (the "Plan"). 1. Independent auditors' report. 2. Audited statements of net assets available for Plan benefits as of December 31, 1994 and 1993. 3. Audited statements of changes in net assets available for Plan benefits for the years ended December 31, 1994 and 1993. 4. Notes to financial statements. 5. Consent of KPMG Peat Marwick LLP 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned thereunto duly authorized. ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN By: /s/ Thomas M. Downie ------------------------------------ Thomas M. Downie Member, Analysis & Technology, Inc. Savings and Investment Plan Committee Date: June 21, 1995 4 [LETTERHEAD FOR KPMG The Global Leader] ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN FINANCIAL STATEMENTS AND SCHEDULES DECEMBER 31, 1994 AND 1993 (WITH INDEPENDENT AUDITORS' REPORT THEREON) 5 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Table of Contents
Page ---- Independent Auditors' Report 1 Statements of Net Assets Available for Plan Benefits 2 Statements of Changes in Net Assets Available for Plan Benefits 3 Notes to Financial Statements 4-9 Schedule 1 - Item 27a - Schedule of Assets Held for Investment Purposes 10 Schedule 2 - Item 27d - Schedule of Reportable Transactions 11
Note: Schedules regarding party-in-interest transactions, nonexempt transactions, loans or fixed income obligations, leases in default or classified as uncollectible, and assets held for investment purposes which were both acquired and disposed of within the plan year, as required by Section 103(c)(5) of the Employee Retirement Income Security Act of 1974, have not been included herein as the information is not applicable. 6 (LETTERHEAD FOR KPMG PEAT MARWICK LLP) Independent Auditors' Report The Savings and Investment Plan Committee Analysis & Technology, Inc.: We have audited the accompanying statements of net assets available for plan benefits of the Analysis & Technology, Inc. Savings and Investment Plan as of December 31, 1994 and 1993, and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Analysis & Technology, Inc. Savings and Investment Plan as of December 31, 1994 and 1993, and the changes in net assets available for plan benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of assets held for investment purposes and reportable transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules have been subjected to the auditing procedures applied in the audit of the basic financial statements as of and for the year ended December 31, 1994 and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. KPMG Peat Marwick LLP March 24, 1995 7 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Statements of Net Assets Available for Plan Benefits December 31, 1994 and 1993
1994 1993 ---- ---- Investments in T. Rowe Price Group funds (note 3): Prime Reserve Fund $ 4,328,666 4,169,826 Prime Reserve Fund - Insurance 11,139 11,998 New Era Fund 5,861,522 5,708,905 New Income Fund 3,997,392 4,413,546 Equity Income Fund 9,802,005 8,920,835 Spectrum Income Fund 1,097,317 1,311,556 Spectrum Growth Fund 2,665,174 2,139,596 International Stock Fund 2,186,525 1,180,842 Stable Value Common Trust Fund (note 5) 5,727,427 5,094,745 Small-Cap Value Fund 780,173 450,549 Growth and Income Fund 945,164 747,932 Science and Technology Fund 2,875,700 1,354,916 ----------- ---------- 40,278,204 35,505,246 Analysis & Technology, Inc. common stock (note 3) 548,184 511,725 ----------- ---------- Total investments 40,826,388 36,016,971 Loans to participants [note 1(d)] 2,538,587 2,306,559 ----------- ---------- Net assets available for plan benefits $43,364,975 38,323,530 =========== ==========
See accompanying notes to financial statements. 2 8 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Statements of Changes in Net Assets Available for Plan Benefits For the years ended December 31, 1994 and 1993
1994 1993 ---- ---- Additions to net assets available for plan benefits attributed to: Investment income: Interest $ 159,924 160,202 Dividends 2,484,749 2,153,599 Net (depreciation) appreciation in fair market value of investments (1,115,576) 1,840,476 ----------- ---------- 1,529,097 4,154,277 ----------- ---------- Contributions: Employee 4,585,432 4,095,901 Employer 1,292,207 1,282,541 Rollovers 99,637 188,351 ----------- ---------- 5,977,276 5,566,793 ----------- ---------- Total additions 7,506,373 9,721,070 ----------- ---------- Deductions from net assets attributed to: Benefits paid 2,452,194 1,781,829 Insurance premiums 11,874 11,785 (Increase)/decrease in settlement account (565) 101 Administrative fees - loan origination 1,425 390 ----------- --------- Total deductions 2,464,928 1,794,105 ----------- ---------- Net increase in net assets available for plan benefits (note 4) 5,041,445 7,926,965 Net assets available for plan benefits: Beginning of year 38,323,530 30,396,565 ----------- ---------- End of year $43,364,975 38,323,530 =========== ==========
See accompanying notes to financial statements. 3 9 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Notes to Financial Statements December 31, 1994 and 1993 (1) Description of Plan The following brief description of the Analysis & Technology, Inc. Savings and Investment Plan (the "Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. (a) General The Plan is a qualified defined contribution plan covering Analysis & Technology, Inc. employees 21 years of age or older who are full-time employees or who have completed at least 1,000 hours of service during the 12-consecutive-month period commencing with their employment date with Analysis & Technology, Inc. (the "Company"). The Plan covers all employees working in all cost centers in the Analysis & Technology segment, Engineering Technology Center ("ETC") segment, Fleet Support Center ("FSC") segment, Interactive Multimedia Training Division ("IMTD"), as well as employees of Continental Dynamics, Inc. ("CDI"), General Systems Solutions, Inc. ("GSS"), Integrated Performance Decisions, Inc. ("IPD") and Automation Software, Inc. ("ASI"). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). (b) Contributions Effective April 1, 1990, the maximum salary savings (pre-tax) contribution that an employee may elect to contribute to the Plan was increased from 15% of annual gross compensation to 16%. Depending on the particular cost center, segment or subsidiary, the Company may match this salary savings contribution at a rate of 50%, up to a specified percentage of the participant's annual gross compensation. The Company may also make discretionary profit-sharing contributions to employees working for certain cost centers, segments or subsidiaries. (c) Vesting Participants are fully vested to the extent of their salary savings contributions and earnings on those contributions. Participants in all cost centers, segments and subsidiaries, excluding ETC, vest in Company contributions and the related earnings based on the following schedule:
Years of Percentage of vesting credited service in employer contributions ---------------- ------------------------- Less than three years 0% Three years 20% Four years 40% Five years 60% Six years 80% Seven years or more 100%
4 10 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Notes to Financial Statements Participants at ETC vest as follows:
Years of Percentage of vesting credited service in employer contributions ---------------- ------------------------- Less than one year 0% One year 33-1/3% Two years 66-2/3% Three years 100%
Participants who were employed by the Company at the inception date of the Plan were given credit for prior years of service. (d) Loans to Participants Participants may borrow from their vested account balance under certain circumstances as provided in the Plan agreement. Interest on loans is charged at the "local prevailing commercial interest rate," with a repayment term not to exceed five years. This term can be extended if the loan is used for the purchase of the participant's primary residence. Loans may be granted to any participant no more than twice in any 12-month period and only 2 loans may remain outstanding at any time. (e) Payment of Benefits Upon termination of service, a participant receives a lump sum amount equal to the value of the vested accrued benefits in his or her account. (f) Hardship Withdrawal The Plan provides for hardship withdrawals, as defined by the Plan, of the participant's salary savings, additional contributions, and the vested portion of the employer matching contributions. (g) Forfeitures Nonvested employer contributions shall be forfeited by a participant who terminates employment and shall be used to reduce subsequent employer contributions under the Plan. (2) Summary of Significant Accounting Policies (a) Basis of Presentation The accompanying financial statements of the Plan have been prepared using the accrual basis of accounting in accordance with generally accepted accounting principles. 5 11 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Notes to Financial Statements (b) Investments Investments are stated at aggregate fair market values, which are based principally on published market prices, except for the Stable Value Common Trust Fund. The Stable Value Common Trust Fund invests primarily in investment contracts whose value is determined based on contribution plus interest accrued at the contract rate, less withdrawals, as a reasonable approximation of fair value. (c) Expenses All expenses of the Plan and Trust are paid by the Company in accordance with the Plan agreement, except participants who request a second loan from the Plan must pay a $15 loan origination fee. (3) Investments in T. Rowe Price Group Funds The Plan's investments are held in trust and managed by T. Rowe Price Trust Company ("T. Rowe Price"). The following table summarizes the investments held by T. Rowe Price on December 31:
1994 1993 ----------------------------- ----------------------------- Fair market/ Fair market/ Number of contract Number of contract shares value shares value ------ ----- ------ ----- Prime Reserve Fund 4,328,666 $ 4,328,666 4,169,826 $ 4,169,826 Prime Reserve Fund - Insurance 11,139 11,139 11,998 11,998 New Era Fund 290,894 5,861,522 280,536 5,708,905 New Income Fund 476,448 3,997,392 477,657 4,413,546 Equity Income Fund 613,392 9,802,005 535,786 8,920,835 Spectrum Income Fund 108,538 1,097,317 118,052 1,311,556 Spectrum Growth Fund 239,458 2,665,174 180,252 2,139,596 International Stock Fund 193,156 2,186,525 97,109 1,180,842 Stable Value Common Trust Fund 5,727,426 5,727,427 5,094,745 5,094,745 Small-Cap Value Fund 58,222 780,173 30,691 450,549 Growth and Income Fund 60,471 945,164 45,138 747,932 Science and Technology Fund 132,889 2,875,700 71,500 1,354,916 ----------- ----------- $40,278,204 $35,505,246 =========== ===========
6 12 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Notes to Financial Statements Effective April 1, 1991, Analysis & Technology, Inc. common stock was offered to Plan participants as an additional investment option. T. Rowe Price purchases the shares in the open market at the time contributions are received. The timing of all stock transactions is subject to the availability of Analysis & Technology, Inc. stock on the open market, and prices are set by the market. The market price per share and number of shares held by the Trust at December 31, 1994 and 1993 were as follows:
1994 1993 ---------------------------- -------------------------- Number of Market price Number of Market price shares per share shares per share ------ --------- ------ --------- 35,367 $15.50 28,628 $17.875
Investment income is recognized when earned, and purchases and sales of securities are recorded on a trade-date basis. 7 13 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Notes to Financial Statements (4) Detailed Changes in Net Assets Changes in net assets for the year ended December 31, 1994 were:
Prime Prime Reserve New New Equity Spectrum Spectrum Reserve Fund - Era Income Income Income Growth Year ended December 31, 1994 Fund Insurance Fund Fund Fund Fund Fund ---------------------------- ---- --------- ---- ---- ---- ---- ---- Interest and dividends $ 166,719 398 364,806 319,259 830,002 91,751 210,413 Net realized gains (losses) -- -- 25,261 (52,738) (7,665) (26,288) (6,132) Net unrealized gains (losses) -- -- (85,305) (346,266) (384,733) (85,629) (170,815) ---------- ------- --------- --------- --------- --------- --------- 166,719 398 304,762 (79,745) 437,604 (20,166) 33,466 Employer and employee contributions 443,679 11,449 664,784 569,270 1,419,083 361,582 778,714 Net transfers between funds (10,315) (745) (292,098) (514,175) (202,232) (406,528) (69,222) Benefits paid (341,360) (87) (335,741) (287,181) (463,280) (103,895) (116,972) Net loan repayments (borrowings) (99,809) -- (188,906) (104,457) (309,925) (45,176) (100,319) Miscellaneous adjustment 105 -- -- 260 263 2 18 Insurance premiums -- (11,874) -- -- -- -- -- Administrative expense (179) -- (184) (126) (343) (58) (107) ---------- ------- --------- --------- --------- --------- --------- Net increase (decrease) in fund balance 158,840 (859) 152,617 (416,154) 881,170 (214,239) 525,578 Fund balance, beginning of year 4,169,826 11,998 5,708,905 4,413,546 8,920,835 1,311,556 2,139,596 ---------- ------- --------- --------- --------- --------- --------- Fund balance, end of year $4,328,666 11,139 5,861,522 3,997,392 9,802,005 1,097,317 2,665,174 ========== ======= ========= ========= ========= ========= ========= Value International Common Small-Cap Growth & Science & Loans Stock Trust Value Income Technology to A&T Year ended December 31, 1994 Fund Fund Fund Fund Fund participants stock Total ---------------------------- ---- ---- --------- -------- ---- ------------ ----- ----- Interest and dividends 146,271 336,919 60,631 55,475 53,204 -- 8,825 2,644,673 Net realized gains (losses) (947) -- (417) (1,413) 11,579 -- (11,346) (70,106) Net unrealized gains (losses) (174,214) -- (68,139) (49,202) 297,448 -- 21,385 (1,045,470) --------- --------- ------- ------- --------- --------- -------- ---------- (28,890) 336,919 (7,925) 4,860 362,231 -- 18,864 1,529,097 Employer and employee contributions 597,269 706,844 223,866 197,846 589,783 (809,892) 222,999 5,977,276 Net transfers between funds 536,912 194,158 157,626 44,432 722,268 -- (160,081) -- Benefits paid (35,216) (472,727) (26,873) (15,208) (69,517) (138,814) (45,323) (2,452,194) Net loan repayments (borrowings) (64,319) (132,193) (17,061) (34,691) (83,878) 1,180,734 -- -- Miscellaneous adjustment -- (83) -- -- -- -- -- 565 Insurance premiums -- -- -- -- -- -- -- (11,874) Administrative expense (73) (236) (9) (7) (103) -- -- (1,425) --------- --------- ------- ------- --------- --------- -------- ---------- Net increase (decrease) in fund balance 1,005,683 632,682 329,624 197,232 1,520,784 232,028 (36,459) 5,041,445 Fund balance, beginning of year 1,180,842 5,094,745 450,549 747,932 1,354,916 2,306,559 511,725 38,323,530 --------- --------- ------- ------- --------- --------- -------- ---------- Fund balance, end of year 2,186,525 5,727,427 780,173 945,164 2,875,700 2,538,587 548,184 43,364,975 ========= ========= ======= ======= ========= ========= ======== ==========
Changes in net assets for the year ended December 31, 1993 were:
Prime Prime Reserve New New Equity Spectrum Spectrum Reserve Fund - Era Income Income Income Growth Year ended December 31, 1993 Fund Insurance Fund Fund Fund Fund Fund ---------------------------- ---- --------- ---- ---- ---- ---- ---- Interest and dividends $ 130,615 310 396,643 301,838 672,730 93,063 155,475 Net realized gains -- -- 31,591 44,972 174,330 8,893 32,827 Net unrealized gains (losses) -- -- 394,416 59,581 318,549 20,300 158,980 ------- --------- --------- --------- --------- --------- 130,615 310 822,650 406,391 1,165,609 122,256 347,282 Employer and employee contributions 531,571 12,132 681,865 623,596 1,373,521 334,659 444,823 Net transfers between funds (773,838) (188) (726,816) (301,660) (290,091) 77,707 44,755 Benefits paid (346,514) (240) (285,278) (189,750) (502,031) (83,075) (49,873) Net loan repayments (borrowings) (153,480) -- (72,653) (117,873) (62,883) (2,057) (37,476) Miscellaneous adjustment (35) -- (61) (186) (75) (11) (13) Insurance premiums -- (11,785) -- -- -- -- ---------- ------- --------- --------- --------- --------- --------- Net increase (decrease) in fund balance (611,681) 229 419,707 420,518 1,684,050 449,479 749,498 Fund balance, beginning of year 4,781,507 11,769 5,289,198 3,993,028 7,236,785 862,077 1,390,098 ---------- ------- --------- --------- --------- --------- --------- Fund balance, end of year $4,169,826 11,998 5,708,905 4,413,546 8,920,835 1,311,556 2,139,596 ========== ======= ========= ========= ========= ========= ========= Stable Value International Common Small-Cap Growth & Science & Loans Stock Trust Value Income Technology to A&T Year ended December 31, 1993 Fund Fund* Fund Fund Fund participants stock Total ---------------------------- ---- ---- ---- ---- ---- ------------ ----- ----- Interest and dividends 35,335 307,180 15,558 37,561 158,728 -- 8,765 2,313,801 Net realized gains 14,774 -- 2,014 2,435 7,797 -- 161,819 481,452 Net unrealized gains (losses) 190,934 -- 26,891 1,342 (54,174) -- 242,205 1,359,024 ------- ------- --------- --------- ------- --------- 241,043 307,180 44,463 41,338 112,351 -- 412,789 4,154,277 Employer and employee contributions 206,917 716,654 81,101 166,362 141,045 -- 252,547 5,566,793 Net transfers between funds 370,518 (81,381) 322,714 535,277 1,110,828 -- (287,825) -- Benefits paid (9,634) (238,334) (419) -- (1,592) (69,395) (5,694) (1,781,829) Net loan repayments (borrowings) (296) (72,138) 2,692 4,956 (7,714) 520,757 (1,835) -- Miscellaneous adjustment (13) (92) (2) (1) (2) -- -- (491) Insurance premiums -- -- -- -- -- -- -- (11,785) --------- --------- --------- --------- -------- ---------- Net increase (decrease) in fund balance 808,535 631,889 450,549 747,932 1,354,916 451,362 369,982 7,926,965 Fund balance, beginning of year 372,307 4,462,856 -- -- -- 1,855,197 141,743 30,396,565 --------- --------- ------- ------- --------- --------- -------- ---------- Fund balance, end of year 1,180,842 5,094,745 450,549 747,932 1,354,916 2,306,559 511,725 38,323,530 ========= ========= ======= ======= ========= ========= ======== ==========
*Formerly Guaranteed Interest Contract Funds 8 14 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Notes to Financial Statements (5) Guaranteed Interest Contract ("GIC") Funds Beginning April 1, 1990, all contributions to the GIC Fund were invested in the T. Rowe Price Stable Value Common Trust Fund (formerly the Managed GIC Common Trust Fund). The Stable Value Common Trust Fund invests in several types of GICs with varying maturity periods from a number of insurance companies and other stable value contracts. (6) Plan Termination Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become fully vested in their accounts. (7) Tax Status The Plan has received a tax determination letter from the Internal Revenue Service indicating that the Plan qualifies under the provisions of Sections 401(k) and 501(a) of the Internal Revenue Code ("IRC") and is, therefore, exempt from federal income taxes. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Plan administrator is not aware of any course of action or series of events that have occurred that might adversely affect the Plan's qualified status. (8) Contributions For purposes of Form 5500 filings, the contributions to the plan are reported in an alternative manner to the financial statement presentation. Employer contributions on the Form 5500 represent actual employer contributions as well as employee contributions made via salary deferrals. Employee contributions represent rollover contributions from employees' previous employers. These two amounts total $5,877,639 and $99,637, respectively, for the plan year ended December 31, 1994 and $5,378,442 and $188,351, respectively, for the plan year ended December 31, 1993. (9) Plan Amendment Effective January 1, 1995, the Applied Science Associates, Inc. ("ASA") 401(k) Retirement Savings Plan was merged into the Analysis & Technology, Inc. Savings and Investment Plan. ASA is a subsidiary of A&T. 9 15 Schedule 1 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Item 27a - Schedule of Assets Held for Investment Purposes December 31, 1994 and 1993
1994 1993 --------------------------- --------------------------- Carrying Carrying value Cost value Cost ----- ---- ----- ---- Investments in T. Rowe Price Group funds: Prime Reserve Fund $ 4,328,666 4,328,666 4,169,826 4,169,826 Prime Reserve Fund - Insurance 11,139 11,139 11,998 11,998 New Era Fund 5,861,522 5,868,596 5,708,905 5,617,956 New Income Fund 3,997,392 4,163,884 4,413,546 4,188,426 Equity Income Fund 9,802,005 9,411,344 8,920,835 8,028,411 Spectrum Income Fund 1,097,317 1,172,329 1,311,556 1,290,512 Spectrum Growth Fund 2,665,174 2,706,449 2,139,596 1,976,711 International Stock Fund 2,186,525 2,218,570 1,180,842 1,013,289 Stable Value Common Trust Fund 5,727,427 5,727,427 5,094,745 5,094,745 Small-Cap Value Fund 780,173 824,382 450,549 423,658 Growth and Income Fund 945,164 993,516 747,932 746,591 Science and Technology Fund 2,875,700 2,616,109 1,354,916 1,409,091 ----------- ---------- ---------- ---------- 40,278,204 40,042,411 35,505,246 33,971,214 Analysis & Technology, Inc. common stock 548,184 380,138 511,725 258,606 ----------- ---------- ---------- ---------- Total investments 40,826,388 40,422,549 36,016,971 34,229,820 Loans to participants 2,538,587 2,538,586 2,292,185 2,292,185 ----------- ---------- ---------- ---------- Net assets available for plan benefits $43,364,975 42,961,135 38,309,156 36,522,005 =========== ========== ========== ==========
10 16 Schedule 2 ANALYSIS & TECHNOLOGY, INC. SAVINGS AND INVESTMENT PLAN Item 27d - Schedule of Reportable Transactions Year ended December 31, 1994
Current value of Identity of asset on party Purchase Selling Cost of transaction involved Description of asset price price asset date Net gain -------- -------------------- ----- ----- ----- ---- -------- TSVF GIC $1,896,125 - 1,896,125 1,896,125 - TSVF GIC 1,263,443 1,263,443 1,263,443 1,263,443 - ISF Mutual Fund 1,622,264 - 1,622,264 1,622,264 - ISF Mutual Fund 416,984 441,420 416,984 441,420 24,436 NIF Mutual Fund 991,867 - 991,867 991,867 - NIF Mutual Fund 1,016,405 1,009,013 1,016,405 1,009,013 (7,392) PRF Mutual Fund 1,615,388 - 1,615,388 1,615,388 - PRF Mutual Fund 1,458,644 1,458,644 1,458,644 1,458,644 - SCV Mutual Fund 1,801,966 - 1,801,966 1,801,966 - SCV Mutual Fund 594,948 590,209 594,948 590,209 (4,739) EIF Mutual Fund 2,729,046 - 2,729,046 2,729,046 - EIF Mutual Fund 1,344,113 1,455,479 1,344,113 1,455,479 111,366 SPG Mutual Fund 1,396,283 - 1,396,283 1,396,283 - SPG Mutual Fund 666,545 693,758 666,545 693,758 27,213
11 17 [LETTERHEAD OF KPMG PEAT MARWICK LLP] Independent Auditors' Consent The Board of Directors Analysis & Technology, Inc.: We consent to incorporation by reference in Registration Statements (Nos. 33-34004 and 33-86666) on Form S-8 of the Analysis & Technology, Inc. Savings and Investment Plan of our report dated March 24, 1995 relating to the statements of net assets available for plan benefits of the Analysis & Technology, Inc. Savings and Investment Plan as of December 31, 1994 and 1993, and the related statements of changes in net assets available for plan benefits for the years then ended, and the related supplementary schedules, which report appears in the December 31, 1994 annual report on Form 11-K of the Analysis & Technology, Inc. Savings and Investment Plan. KPMG PEAT MARWICK LLP June 28, 1995 -----END PRIVACY-ENHANCED MESSAGE-----