-----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, WXO1DmQfTFgldUs+5Mi7LpqAdD8kDvI99Nlff5IiK2MxRKHLtSJ13ksBsZqNHvL6 H+oBe8MSlsCkCCOm2PwTGw== 0000891618-97-004271.txt : 19971029 0000891618-97-004271.hdr.sgml : 19971029 ACCESSION NUMBER: 0000891618-97-004271 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971015 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19971028 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASPECT TELECOMMUNICATIONS CORP CENTRAL INDEX KEY: 0000779390 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 953962471 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-18391 FILM NUMBER: 97702126 BUSINESS ADDRESS: STREET 1: 1730 FOX DR CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: 4084412200 MAIL ADDRESS: STREET 1: 1730 FOX DRIVE CITY: SAN JOSE STATE: CA ZIP: 95131 8-K 1 FORM 8-K DATED OCTOBER 15, 1997 1 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 October 15, 1997 _________________ ASPECT TELECOMMUNICATIONS CORPORATION (Exact name of registrant as specified in its charter) 0-18391 (Commission File Number) California 94-2974062 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 1730 Fox Drive San Jose, CA 95131-2312 (Address of principal executive offices, with zip code) (408) 325-2200 (Registrant's telephone number, including area code) 2 ITEM 5. OTHER EVENTS On October 15, 1997 Aspect Telecommunications Corporation, a California corporation (the "Company") announced its earnings and results of operations for the quarter ended September 30, 1997. Further details regarding this announcement are contained in the Company's press release dated October 15, 1997 attached as an exhibit hereto and incorporated by reference herein. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) EXHIBITS. Exhibit 99 Aspect Telecommunications Corporation Press Release dated October 15, 1997. -2- 3 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. ASPECT TELECOMMUNICATIONS CORPORATION Date: October 27, 1997 By: /s/ ERIC J. KELLER ---------------------------------- Eric J. Keller Vice President, Finance and Chief Financial Officer (Duly Authorized and Principal Financial and Accounting Officer) -3- 4 ASPECT TELECOMMUNICATIONS CORPORATION INDEX TO EXHIBITS Exhibit Number Description Sequential Page Number -------------- ----------- ---------------------- 99 Press Release dated October 15, 1997 -4- EX-99 2 PRESS RELEASE DATED OCTOBER 15, 1997 1 EXHIBIT 99 FOR RELEASE ON OCTOBER 15, 1997 1:15 PST FOR MORE INFORMATION CONTACT: Eric Keller or Lois Eckmann (408) 325-2200 ASPECT TELECOMMUNICATIONS ANNOUNCES RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 1997 Revenues of $99.2 million set new record SAN JOSE, CA OCT. 15, 1997 --- Aspect Telecommunications Corporation (Nasdaq:ASPT) announced today financial results for the quarter ended September 30, 1997 which reflect new record levels of business. Aspect acquired privately held Commerce Soft Inc. in September 1997 and, as previously disclosed, this transaction results in a one-time charge for in-process technology of $4.9 million ($0.10 per share). Net revenues of $99.2 million for the third quarter of 1997 increased 6 percent over the prior quarter to a new record level, while increasing 24 percent compared to the same quarter last year. For the first nine months of 1997, revenues reached $284.4 million, an increase of 29 percent over the first nine months of 1996. Excluding the one-time charge, income from operations for the third quarter of 1997 was $17.8 million or 18 percent of revenues while net income for the quarter was $11.9 million or 12 percent of revenues. On the same basis, fully diluted earnings per share for the quarter was $0.23, up from $0.19 in the year earlier period and up from $0.22 in the second quarter of 1997 (not including a $0.02 gain from the sale of appreciated securities in the second quarter). Cash, cash equivalents and short term investment balances at the end of September 1997 reached $148.0 million, up almost $14 million in the quarter. Commenting on these results, James R. Carreker, Aspect's chairman and chief executive officer stated, "We are pleased to be reporting another period of steady top-line and bottom-line growth which represents continued good market acceptance of the company's products and services for mission-critical call centers. Our acquisition of Commerce Soft and its Web-based, Java-enabled, collaborative call center technology demonstrates an ongoing commitment to bring our customers a broad array of new and innovative integrated call center solutions. We are also pleased to note progress in our consulting and systems integration business unit, which we established in 1996, as exemplified by the recent receipt of a systems integration order to design and implement one of the largest networked commercial call centers in Europe." - more - 2 ASPECT TELECOMMUNICATIONS RESULTS FOR QUARTER ENDED SEPTEMBER 30, 1997, PAGE 2 All financial results for 1996 have been restated to reflect the acquisitions of Envoy Holdings Limited on September 30, 1996 and Prospect Software, Inc. on October 21, 1996. Both acquisitions were accounted for as pooling of interests. Share and per share amounts contained in this release have been adjusted for the two-for-one stock split effective January 28, 1997. Founded in 1985, Aspect Telecommunications is a global provider of comprehensive business solutions for mission-critical call centers. Aspect products include automatic call distributors, interactive response systems, call center management information and reporting tools, call center planning and forecasting packages, and computer-telephony integration tools and software. Aspect also provides services vital to call center environments, including business applications consulting, systems integration and training. World headquarters are located in San Jose, California. For additional information, visit Aspect on the World Wide Web at http://www.aspect.com. Note: Aspect Telecommunications and the Aspect logo are registered trademarks of Aspect Telecommunications Corporation. - tables follow - 3 ASPECT TELECOMMUNICATIONS CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands)
September 30, 1997 December 31, 1996 ------------------ ----------------- (Unaudited) Assets Current assets: Cash, cash equivalents and short-term investments $147,956 $115,797 Accounts receivable, net 72,089 53,211 Inventories 10,367 15,485 Other current assets 11,657 14,731 -------- -------- Total current assets 242,069 199,224 Property and equipment, net 58,197 51,348 Intangible assets, net 26,181 28,888 Other assets 3,389 3,633 -------- -------- Total assets $329,836 $283,093 ======== ======== Liabilities and shareholders' equity Current liabilities: Accounts payable $ 10,421 $ 10,027 Accrued liabilities 42,737 29,637 Customer deposits and deferred revenue 14,150 19,481 -------- -------- Total current liabilities 67,308 59,145 Note payable 4,500 4,500 Shareholders' equity 258,028 219,448 -------- -------- Total liabilities and shareholders' equity $329,836 $283,093 ======== ========
4 ASPECT TELECOMMUNICATIONS CORPORATION CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data - unaudited)
Three Months Ended Nine Months Ended ------------------------ ------------------------ September 30, September 30, 1997 1996 1997 1996 -------- -------- -------- -------- Net revenues: Product $ 68,558 $ 60,071 $202,042 $165,572 Customer support 30,634 20,153 82,309 54,582 -------- -------- -------- -------- Total net revenues 99,192 80,224 284,351 220,154 Cost of revenues: Cost of product revenues 21,531 20,213 65,214 54,847 Cost of customer support revenues 21,451 14,873 58,349 39,612 -------- -------- -------- -------- Total cost of revenues 42,982 35,086 123,563 94,459 -------- -------- -------- -------- Gross margin 56,210 45,138 160,788 125,695 Operating expenses: Research and development 11,452 8,930 33,964 24,595 Selling, general and administrative 27,003 21,260 75,207 58,882 Purchased in-process technology 4,910 -- 4,910 -- -------- -------- -------- -------- Total operating expenses 43,365 30,190 114,081 83,477 -------- -------- -------- -------- Income from operations 12,845 14,948 46,707 42,218 Interest and other income, net 1,625 482 6,466 1,033 -------- -------- -------- -------- Income before income taxes 14,470 15,430 53,173 43,251 Provision for income taxes 7,461 5,740 22,362 16,062 -------- -------- -------- -------- Net income $ 7,009 $ 9,690 $ 30,811 $ 27,189 ======== ======== ======== ======== Primary earnings per share: Net income per share (a) $ 0.13 $ 0.21 $ 0.59 $ 0.59 ======== ======== ======== ======== Shares used in per share computations (a) 52,233 46,588 52,221 46,432 ======== ======== ======== ======== Fully diluted earnings per share: Net income per share (a) $ 0.13 $ 0.19 $ 0.59 $ 0.54 ======== ======== ======== ======== Shares used in per share computations (a) 52,452 52,846 52,251 52,692 ======== ======== ======== ========
(a) Share and per share data for all periods presented reflect a two-for-one stock split effective January 28, 1997. -----END PRIVACY-ENHANCED MESSAGE-----