-----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, rHZ+XeDEv5ahlodAlks1kcbizq3HF6Cu55jpPpMqaeWV+9Bl27X827BgkE2kZEYB elv6B87xWPS7gd8rIws3Dw== 0000069999-94-000002.txt : 19940112 0000069999-94-000002.hdr.sgml : 19940112 ACCESSION NUMBER: 0000069999-94-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940103 ITEM INFORMATION: 5 ITEM INFORMATION: 7 FILED AS OF DATE: 19940105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL COMPUTER SYSTEMS INC CENTRAL INDEX KEY: 0000069999 STANDARD INDUSTRIAL CLASSIFICATION: 3577 IRS NUMBER: 410850527 STATE OF INCORPORATION: MN FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 34 SEC FILE NUMBER: 000-03713 FILM NUMBER: 94500365 BUSINESS ADDRESS: STREET 1: 11000 PRAIRIE LAKES DR CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 6128293000 MAIL ADDRESS: STREET 1: P O BOX 9365 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 8-K 1 CURRENT REPORT ON 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): January 3, 1994 NATIONAL COMPUTER SYSTEMS, INC. (Exact name of issuer as specified in its charter) Minnesota 0-3713 41-0850527 (State or other jurisdiction) (Commission (I.R.S.Employer of incorporation File Number) Identification No.) 11000 Prairie Lakes Drive 612/829-3000 P.O. Box 9365 (Telephone number, Minneapolis, MN 55440 including area code) (Address of principal executive offices and zip code) Item 5. Other Events Reference is made to Exhibit 99 hereto. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) - Exhibits Exhibit 99 - National Computer Systems, Inc. News Release dated January 3, 1994 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. NATIONAL COMPUTER SYSTEMS, INC. Date: January 5, 1994 By: /s/ J. W. Fenton, Jr. J. W. Fenton, Jr. Secretary/Treasurer EX-99 2 NEWS RELEASE DATED 1/3/94 EXHIBIT 99 NEWS RELEASE Contact: Robert Kleiber (NASDAQ: NLCS) 612/829-3116 For Immediate Release NATIONAL COMPUTER SYSTEMS TO TAKE FOURTH QUARTER CHARGE FOR PRODUCT DISCONTINUANCE, RESTRUCTURING MINNEAPOLIS, MINNESOTA...January 3, 1994...National Computer Systems, Inc. (NCS) announced today that it will take a pretax charge in its fiscal fourth quarter of approximately $25 million as a result of terminating its Ultrust trust accounting software product and restructuring its Financial Systems and Education administrative software businesses. Approximately $23 million of the total charge is tied to the discontinuance of the Ultrust product and related costs including personnel reductions. The remaining $2 million of the charge is for restructuring the administrative software segment of the Education business including the closing of the Salt Lake City software development operation and the consolidation of product development activities into facilities in Mesa, Arizona. NCS CEO Charles W. Oswald commented "The decision to terminate the Ultrust product is based on our analysis of the market's requirements for a software product of this scope. It has become apparent that Ultrust could not provide the level of customized functionality that customers in this segment of the market demand. In addition, rapid changes in technology in the largest U.S and international banks, including a shift to client/server architecture, would limit the potential for Ultrust going forward. The elimination of the operating losses attributable to the Ultrust product in fiscal 1994 should dramatically improve the financial performance of the Financial Systems business." Mr. Oswald continued "The decision to restructure the administrative software segment of our Education business resulted from a comprehensive study of the market, our products, and our sales, support, and product development methodologies. We believe that the consolidation of development operations, a product-focused sales effort and the release of our new classroom-based MicroCIMS product should have a significant positive impact on the operating performance of this critical segment of our Education business in fiscal 1994." # # # -----END PRIVACY-ENHANCED MESSAGE-----