-----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, D5u6ELX7Lqydp0zrm+mVqJTIV+xjOPs055UoSlkyG3K9TbXad+LZ+iffzh2TWvrO L3Z+PLooRRbpYlom3baCQA== 0000891092-03-001000.txt : 20030508 0000891092-03-001000.hdr.sgml : 20030508 20030508150656 ACCESSION NUMBER: 0000891092-03-001000 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030430 ITEM INFORMATION: Other events FILED AS OF DATE: 20030508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL MICROCOMPUTER SOFTWARE INC /CA/ CENTRAL INDEX KEY: 0000814929 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 942862863 STATE OF INCORPORATION: CA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-15949 FILM NUMBER: 03687999 BUSINESS ADDRESS: STREET 1: 75 ROWLAND WAY CITY: NOVATO STATE: CA ZIP: 94945 BUSINESS PHONE: 4158784000 MAIL ADDRESS: STREET 1: 75 ROWLAND WAY CITY: NOAVTAO STATE: CA ZIP: 94945 8-K 1 e14794_8k.txt FORM 8-K CURRENT REPORT UNITED STATES 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) May 8, 2003 Commission File Number 0-15949 INTERNATIONAL MICROCOMPUTER SOFTWARE, INC. (Exact name of registrant as specified in its charter) California 94-2862863 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) identification No.) 75 Rowland Way, Novato, CA 94945 (Address of principal executive offices) (Zip code) (415) 878-4000 (Registrant's telephone number including area code) ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Not applicable. (b) Not applicable. (c) Exhibits. Exhibit No. Description of Exhibit ----------- ---------------------- 99.1 Press release dated May 8, 2003. ITEM 9. REGULATION FD DISCLOSURE (INFORMATION FURNISHED PURSUANT TO ITEM 12, "DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION"). - -------------------------------------------------------------------------------- On May 8, 2003, International Microcomputer Software, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2003. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. In accordance with the procedural guidance in SEC Release Nos. 33-8216 and 34-47583, the information in this Form 8-K and the Exhibit attached hereto is being furnished under "Item 9. Regulation FD Disclosure" rather than under "Item 12. Disclosure of Results of Operations and Financial Condition." The information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. 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 hereunto duly authorized. INTERNATIONAL MICROCOMPUTER SOFTWARE, INC. Dated: May 8, 2003 By: /s/ MARTIN WADE, III --------------------------------- Name: Martin Wade, III Title: Chief Executive Officer EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press release dated May 8, 2003. EX-99.1 3 e14794ex99_1.txt PRESS RELEASE Exhibit No. 99.1 NEWS RELEASE COMPANY CONTACT: Bill Bush International Microcomputer Software, Inc. 415.878.4039 E-mail: bbush@imsisoft.com IMSI(R) ANNOUNCES THIRD QUARTER RESULTS NOVATO, Calif., May 8, 2003 - IMSI(R) (OTC "Bulletin Board": IMSI), a leading developer of visual content, design, and graphics software, today announced financial results for its third fiscal quarter ended March 31, 2003. IMSI reported a net loss of $103,000 on net revenues of $3.9 million. Net revenues increased by $285,000, or 8%, for the three-month period ended March 31, 2003 as compared to the same period from the previous fiscal year. The Company generated $335,000 of EBITDA for the quarter ended March 31, 2003 as compared to $480,000 in the prior comparable period. Revenue from IMSI's wholly owned subsidiary ArtToday.com, Inc. increased 31% to $1.4 million for the quarter ended March 31, 2003 as compared to $1.1 million for the three months ended March 31, 2002 reflecting the continued strength of its network of domain names and web sites. The growth in ArtToday's revenue was mainly due to the launch of Photos.com. Revenues for the quarter ended March 31, 2003 from IMSI's wholly owned subsidiary, Keynomics, Inc., were $442,000, an increase of 85%, as compared to the same period from the previous fiscal year, reflecting the continued strength of the Keynomics product offering. Revenues for the nine months ended March 31, 2003 were $10.6 million, an increase of 13% as compared to the same period from the prior fiscal year. The net loss, excluding gains from the extinguishment of debt, for the nine months ended March 31, 2003 was $859,000 as compared to $754,000 from the comparable prior year period. Deferred revenues recorded on the balance sheet, which will be recognized as revenue over the next twelve months, grew to $1.8 million at March 31, 2003 from $1.3 million at June 30, 2002, reflecting the ongoing strength of the underlying business. "With the settlement of the Company's three remaining legal disputes, including the removal of the $2.7 million Imageline judgment and related liens, we have completed the restructuring of the Company," stated IMSI CEO, Martin Wade. "We continue to strengthen the balance sheet and make improvements in the underlying business and product offerings of the Company. The Company is in the process of raising additional debt financing to help fund the growth of ArtToday.com and retire long term liabilities". - -------------------------------------------------------------------------------- Summarized Financial Statistics Three Months Ended March 31 - ------------------------------- --------------------------------- 2003 2002 Change ---- ---- ------ $ % ----- ----- Consolidated Net Revenues $3,946 $3,661 $285 8 ArtToday Revenue 1,413 1,082 331 31 Net Income (Loss) (103) 68 (171) (252) EBITDA 335 480 (145) (30) - -------------------------------------------------------------------------------- About IMSI Founded in 1982, IMSI has established a tradition of providing the professional hand home user with innovative technology and easy to use, high quality software products at affordable prices. The company maintains three business divisions for Graphic Design, Visual Design and Business Applications and produces many popular software titles including TurboCAD(R), FloorPlan(R) HiJaak(R), FormTool(R), and FlowCharts&More(R). IMSI also owns the subsidiary, ArtToday.com, Inc., the LARGEST subscription-based graphics resource on the web with over 2,500,000 clipart images, animations, photos, fonts, and sounds. ArtToday.com also maintains a network of graphics related websites including Photos.com (www.photos.com), ClipArt.com (www.ClipArt.com) and Graphics.com (www.graphics.com). More information about IMSI can be found at www.imsisoft.com. IMSI and ArtToday are registered trademarks of International Microcomputer Software, Inc. and ArtToday, Inc, respectively. All other products are the trademarks or registered trademarks of their respective owners. (C)2003 International Microcomputers Software, Inc. All rights reserved. Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in the forward-looking statements as a result of various factors including the ability of the company to successfully commercialize its new technologies as well as risk factors set forth under "Factors Affecting Future Operating Results" in the company's annual report on Form 10-K and such other risks detailed from time to time in the company's reports filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. # # # -----END PRIVACY-ENHANCED MESSAGE-----