-----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, IplNt6fQ1RCFxV24fXkkRISYpLUKCGTggCHqJPOl3DsNfvmsIZZRy5VSb6EDPBg8 ejr2VgnQVIyufnGMjfLlNQ== 0001047469-04-028550.txt : 20040913 0001047469-04-028550.hdr.sgml : 20040913 20040913134129 ACCESSION NUMBER: 0001047469-04-028550 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20040913 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20040913 DATE AS OF CHANGE: 20040913 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIBER INC CENTRAL INDEX KEY: 0000918581 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 382046833 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13103 FILM NUMBER: 041027156 BUSINESS ADDRESS: STREET 1: 5251 DTC PKYWAY STREET 2: STE 1400 CITY: ENGLEWOOD STATE: CO ZIP: 80111-2742 BUSINESS PHONE: 3032200100 MAIL ADDRESS: STREET 1: 5251 DTC PKWY STREET 2: STE 1400 CITY: ENGLEWOOD STATE: CO ZIP: 80111-2742 8-K 1 a2143374z8-k.htm 8-K
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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): September 13, 2004

CIBER, INC.
(Exact name of registrant as specified in its charter)

Delaware   0-23488   38-2046833
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

5251 DTC Parkway, Suite 1400, Greenwood Village, Colorado 80111
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (303) 220-0100

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





CIBER, Inc.
Information to be included in the Report

Item 8.01—Other Events.

        On September 13, 2004, CIBER, Inc. issued the attached press release announcing an increase in its share repurchase program of 1,500,000 shares.


Item 9.01—Exhibits.

99.1
Press release dated September 13, 2004.

2



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.


 

 

CIBER, Inc.

Date: September 13, 2004

 

By:

 

/s/  
DAVID G. DURHAM      
David G. Durham
Chief Financial Officer, Senior Vice President and Treasurer

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CIBER, Inc. Information to be included in the Report
SIGNATURE
EX-99.1 2 a2143374zex-99_1.htm EX 99.1
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Exhibit 99.1

         Logo

CIBER, Inc.
5251 DTC Parkway, Suite 1400
Greenwood Village, CO 80111
www.ciber.com

For Immediate Release   Contacts:   Doug Eisenbrandt
Investor Relations
303-220-0100
deisenbrandt@ciber.com
  Jenn Wing
Media Relations
303-220-0100
jwing@ciber.com


CIBER INCREASES SHARE PURCHASE PROGRAM
Business Model Strategic Positioning Principally Accomplished

        GREENWOOD VILLAGE, Colo.—September 13, 2004—CIBER, Inc. (NYSE: CBR) today announced its Board of Directors has approved increasing its share purchase program by 1,500,000 shares, the largest open-market purchase authorization increase in over five years.

        "We have spent the last three years greatly repositioning our business model. The addition of Novasoft AG caps our most active year ever and significantly completes the acquisition portion of the strategies we set out to achieve in 2001. With this done, we are turning most efforts to increased organic growth and we will predominantly use our cash flow to pay down debt and purchase shares into treasury," said Mac Slingerlend, CIBER's President and Chief Executive Officer.

        "As the curtain came down on Y2K issues, the dotcom hype and overall reduced IT spending, we recognized the need to aggressively reposition our strategies. A series of major steps were needed to accomplish this. Beginning in October 2001, we embarked to be not only more solutions than staffing oriented, but to be more public sector and European oriented as well. We began in October 2001 by acquiring various Metamor entities out of PSI Net's bankruptcy, adding to our public sector revenues, both state & local and federal. In May 2002, we added Decision Consultants, Inc., a custom solutions player with critical mass in several markets. In January 2003, we added ECsoft Group Plc, a pan-European quality consultancy to our Dutch operations, and in June 2003 we added AlphaNet Solutions, an infrastructure services and hosting capable firm that complemented our Edison, NJ operations.

        "After a smaller purchase in January 2004 of FullTilt, Inc.'s services business, we acquired SCB computer Technology, Inc. in March. SCB's revenues were 85 percent public sector, with the majority being federal government solutions. We went back to Europe in May 2004, acquiring Ascent Technology, Ltd. of Leichester, United Kingdom, middle-market ERP player with long-term recurring revenues. Lastly, on August 28, 2004, we announced the purchase of a majority interest in Novasoft, with a compulsory offer for minority interests to follow later this fall," continued Slingerlend.

        "Collectively, since October 2001, we have added approximately $500 million in revenues, and we have moved our business model from approximately 90 percent commercial sector to approximately 65 percent; from 99 percent domestic to approximately 75 percent; from over 60 percent staffing to approximately 25 percent staffing; and from approximately 25 percent ERP to approximately 20 percent ERP, but with a much more robust SAP component. The hard work of many folks made this happen.

        "We have not only repositioned our business model, we have steadily added to our operating margins, earnings and EPS during the last 36 months. It is now our intent to focus even more on organic growth and use of cash flow to strengthen our balance sheet and reduce our shares outstanding. As to share purchases, this open-market authorization is the largest we have approved



since 1999 and will help offset the potential dilution from our December 2003 convertible debt offering. We have purchased over six million shares into treasury in the last twelve months alone. We obviously think our shares are a good investment for our shareholders," concluded Slingerlend.

About CIBER, Inc.

        CIBER, Inc. (NYSE: CBR) is a pure-play international system integration consultancy with superior value-priced services for both private and government sector clients. CIBER's global delivery services are offered on a project or strategic staffing basis, in both custom and enterprise resource planning (ERP) package environments, and across all technology platforms, operating systems and infrastructures. Founded in 1974, the company's consultants now serve client businesses from over 60 U.S. offices, 18 European offices and three offices in Asia. With offices in 14 countries, annualized revenue run rate of approximately $925 million and approximately 8,000 employees, CIBER's IT specialists continuously build and upgrade our clients' systems to "competitive advantage status." CIBER is included in the Russell 2000 Index and the S&P Small Cap 600 Index. CIBER, ALWAYS ABLE.

Forward-Looking and Cautionary Statements

        Statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in the company's filings with the Securities and Exchange Commission. CIBER undertakes neither intention nor obligation to publicly update or revise any forward-looking statements. CIBER and the CIBER logo are trademarks or registered trademarks of CIBER, Inc. Copyright© 2004. All rights reserved.

###

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CIBER INCREASES SHARE PURCHASE PROGRAM Business Model Strategic Positioning Principally Accomplished
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