SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549-1004

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): June 10, 2003

UNIFY CORPORATION

(Exact name of Registrant as specified in its charter)

Delaware	94-2710559	001-11807
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)	(Commission File No.)

2101 Arena Blvd, Suite 100 Sacramento, California 95834
(Address of principal executive offices)

(916) 928-6400
(Registrant’s telephone number, including area code)

ITEM 7. Financial Statements and Exhibits

c) Exhibits.

The exhibits listed below are being furnished with this Form 8-K.

Exhibit Number		Description

99.1		Press Release dated June 10, 2003
99.2		Transcript of Portion of June 10, 2003 Conference Call

ITEM 9. Regulation FD Disclosure.

In accordance with Securities and Exchange Commission Release No. 33-8216, the following information, which is intended to be furnished under Item 12, “Results of Operations and Financial Condition,” is instead being furnished under Item 9, “Regulation FD Disclosure.” The information in this Form 8-K and the Exhibits attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

On June 10, 2003, Unify Corporation (the “Company”) issued a press release regarding the company’s financial results for its fourth fiscal quarter and year ended April 30, 2003. The full text of the Company’s press release is attached hereto as Exhibit 99.1.

In the conference call referred to in the press release the Company provided certain non-GAAP financial measures, specifically, the ratio of “end user” and “indirect” software license revenues to total revenues for both the most recently completed fiscal year and the prior year. These non-GAAP financial measures exclude from the directly comparable GAAP measures, where applicable, the revenue that is being compared. For example, calculation of end user revenues excludes indirect revenues and vice versa. A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures is set forth below. The Company believes the non-GAAP measures are useful because they permit investors to evaluate changes in important revenue components that may not be apparent from use of the most directly comparable GAAP financial measure. The Company’s management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company’s operating performance. Non-GAAP financial measures should

not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-GAAP financial measures as reported by the Company may not be comparable to similarly titled items reported by other companies. A transcript of the portion of the conference call discussing non-GAAP financial measures is attached hereto as Exhibit 99.2.

Software License Revenue

	Year End April 30, 2003		%		Year End April 30, 2002		%

End user revenue	$	2,786,000	47	%	$	2,242,000	31	%

Indirect revenue	3,109,000		53	%	5,061,000		69	%

Total Revenue (GAAP)	$	5,895,000	100	%	$	7,303,000	100	%

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 thereunto duly authorized.

Unify Corporation

(Registrant)

Date: June 17, 2003

	By:	/s/ Peter J. DiCorti
	Peter J. DiCorti
	Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

Exhibit 99.1

Unify Corporation
2101 Arena Blvd.
Sacramento, CA 95834
916-928-6400
www.unify.com

FOR IMMEDATE RELEASE

Contact: Deb Thornton

(916) 928-6379

deb@unify.com

Unify Corporation Announces Fourth Quarter
and Fiscal Year 2003 Results

Unify Achieves Profitability for the Fourth Quarter and Second Consecutive Year

SACRAMENTO, Calif., – June 10, 2003 – Unify Corporation (OTC BB: UNFY), a global provider of software product solutions, today announced financial results for the fourth quarter and fiscal year ended April 30, 2003.

Revenues in the fourth quarter were $3.2 million, a 15 percent decrease, compared to $3.7 million for the fourth quarter of fiscal 2002. Net income for the fourth quarter was $183,000, compared to net income of $791,000 in the fourth quarter of the prior year. Net income per share was $0.01 per basic and diluted share, compared to net income per share of $0.04, basic and diluted, in the fourth quarter of last year.

For fiscal year 2003, total revenues were $12.2 million, down 10 percent, compared to revenues of $13.6 for fiscal 2002. Net income for fiscal 2003 was $119,000, compared to net income of $1.6 million in fiscal 2002. Net income per share was $0.01 per basic and diluted share, compared to net income per share of $0.08, basic and diluted, in the prior year.

“Although revenues were lower than we anticipated, we were pleased to end the quarter and the fiscal year with a profit for the second consecutive year,” said Todd Wille, president and CEO of Unify. “We are energized about the upward demand for Unify NXJ, having 25 customers to date. The coming year is about executing on fresh strategies to grow market acceptance for Unify NXJ, as well as driving revenue growth with all our products.”

“Our mission is to deliver product solutions for companies seeking business advantages through Web applications. Going to the Web means increased revenue, enriched customer relationships and enhanced operational effectiveness, but it also represents a complex and expensive IT challenge. Unify gives companies the combined benefits of building a custom application and buying a packaged application – flexibility, speed to market and reduced total cost of ownership. Unify NXJ makes it radically easy and cost-effective for companies to extend their business applications to the Web,” added Wille.

-more-

“I look forward to working with Jim Kanir, our new vice president of sales and marketing, to refocus the organization, making needed investments during the year to enhance our competitive positioning and drive future revenues and operating profit,” concluded Wille.

Balance Sheet

The Company ended the fiscal year with $3 million in cash, up from cash of $2.6 million at the end of the third quarter, and flat compared to cash of $3 million at the end of fiscal 2002. Stockholders’ equity at the end of the year was $1.5 million, compared to stockholders’ equity of $971,000 at the end of fiscal 2002. Additionally, the Company reported working capital of $658,000 at the end of fiscal 2003.

Customers

During the fourth quarter, Unify had a number of wins across vertical and geographic markets including, Doshiyou RFP, Florida Medical Records Services, Giga Consulting, JC21, Lourdes Memorial Hospital, Inc., Pioneer Shared Services, Corp., Pittsburgh Job Corps, and University of Wisconsin.

Highlights

During fiscal year 2003, Unify:

• Earned significant repeat business from existing customers, including bioMèrieux, Citra, GlaxoSmithKline, GMAC Leasing, Science Application International Corp., Sescoi France, Travel Centers of America, Triple G Systems Group and Unify Japan Distribution.

• Launched Unify NXJ during the Gartner Symposium ITxpo in Oct. 2002.

• Secured 25 new Unify NXJ customers, including Amerillium Systems, Inc., Cast & Crew, Celebrity Software, Corporate Express, Fernando Chinaglia, IDS, MDSI, Net Team, Telios and Vinci Park.

• Announced the appointment of Tery Larrew, CEO of Vericept, to the Board of Directors.

• Appointed Pete DiCorti as vice president of finance and administration, and CFO.

• Appointed Greg Tsutaoka as vice president of business development.

• Became listed on the over-the-counter bulletin board exchange.

Conference Call

Unify will hold its conference call, open to all interested parties, on Tuesday, June 10, 2003 at 2 p.m. Pacific Time. Listeners should dial 800-231-5571 prior to the start of the conference call. The conference call will also be Webcast. Online listeners should visit www.unify.com/investors prior to the start of the call for login information. A replay of the conference call will be available until June 24, 2003 by dialing 877-519-4471 and entering the passcode 3939531.

About Unify Corporation

Unify Corporation (OTCBB: UNFY) is a global provider of software product solutions that helps companies deliver robust and reliable Web and business applications in less time, at a lower cost and with significantly reduced maintenance. More than 2,000 organizations around the world use Unify solutions to deliver applications that enhance revenue opportunities, improve operational effectiveness, and enrich customer relationships. Unify’s customers include AT&T, Boeing, Credit Lyonnais, Citigroup Inc., Fannie Mae, Fuji Electric Co. Ltd, GlaxoSmithKline, Heineken, Sescoi, Triple G Systems Group and Wells Fargo. Founded in 1980, Unify is headquartered in Sacramento, Calif., and has offices in the UK and France, in addition to a worldwide network of distributors. Further information is available at www.unify.com.

This press release contains “forward-looking statements” as that term is defined in Section 21E of the Securities Exchange Act of 1934 as amended. Forward looking statements are denoted by such phrases as “…to refocus the organization, making needed investments during the coming year to enhance our competitive positioning and drive future revenues and operating profit…” “the coming year for us is about executing on fresh strategies to grow market acceptance for NXJ, as well as, drive revenue growth with all our products” and similar words and phrases that refer to anticipated future events or performance of the business of the Company. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by our forward looking statements. Such risks and uncertainties include, but are not limited to general economic conditions in the computer and software industries, domestically and worldwide, the Company’s ability to keep up with technological innovations in relation to its competitors, product defects or delays, developments in the Company’s relationships with its customers, distributors and suppliers, changes in pricing policies of the Company or its competitors and the Company’s ability to attract and retain employees in key positions. In addition, Unify’s forward looking statements should be considered in the context of other risks and uncertainties discussed in our SEC filings available for viewing on its web site at “Investor Relations,” “SEC filings” or from the SEC at www.sec.gov.

# # #

UNIFY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

	April 30, 2003			April 30, 2002

Assets
Current assets:
Cash and cash equivalents	$	3,030		$	2,993
Accounts receivable, net	2,504			3,279
Prepaid expense & other current assets	290			339
Total current assets	5,824			6,611

Property and equipment, net	345			396
Other investments	392			589
Other assets	114			121
Total assets	$	6,675		$	7,717

Liabilities and Stockholders’ Equity
Current liabilities:
Account payable	$	556		$	626
Notes payable to minority interest stockholders	0			291
Accrued compensation and related expenses	652			689
Current portion of long term debt	200			240
Other accrued liabilities	822			1,372
Deferred revenue	2,936			3,328
Total current liabilities	5,166			6,546

Long term debt	0			200

Stockholders’ equity:
Common stock	21			20
Paid in capital	59,339			59,088
Note receivable from stockholder	(60		)	(60		)
Accumulated other comprehensive loss	(43		)	(210		)
Accumulated deficit	(57,748		)	(57,867		)
Total stockholders’ equity	1,509			971
Total liabilities and stockholders’ equity	$	6,675		$	7,717

UNIFY CORPORATION

CONDENSED CONSOLIDATED STATEMENT OF INCOME

(in thousands)

(unaudited)

	Three Months Ended April 30,						Twelve Months Ended April 30,
	2003			2002			2003			2002
Revenues:
Software Licenses	$	1,622		$	2,241		$	5,895		$	7,303
Services	1,548			1,489			6,278			6,297
Total revenues	3,170			3,730			12,173			13,600

Cost of Revenues:
Software licenses	57			92			263			498
Services	270			280			1,133			1,442
Total cost of revenues	327			372			1,396			1,940

Gross profit	2,843			3,358			10,777			11,660

Operating Expenses:
Product development	948			1,072			4,108			4,099
Selling, general and administrative	1,619			1,492			6,523			6,016
Write-down of other investments	150			200			200			1,300
Special charges (recovery)	0			39			(132		)	(1,276		)
Total operating expenses	2,717			2,803			10,699			10,139

Income from operations	126			555			78			1,521
Other income (expense), net	(1		)	181			3			36
Income before income taxes	125			736			81			1,557
Benefit for income taxes	(58		)	(55		)	(38		)	(10		)
Net income	$	183		$	791		$	119		$	1,567

Net income per share:
Basic	$	0.01		$	0.04		$	0.01		$	0.08
Dilutive	$	0.01		$	0.04		$	0.01		$	0.08
Shares used in computing net income per share:
Basic	21,164			20,373			20,939			20,232
Dilutive	21,657			21,397			21,693			20,779