-----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, F00S24oHEdSDirsPdlefvpWBoXBhU2hl6k+G+OEk2wF0A4jHqO0uFs3+GgZkMxs3 iQKLbqk8K5cExIOQe2f+nw== 0000950135-01-502310.txt : 20010809 0000950135-01-502310.hdr.sgml : 20010809 ACCESSION NUMBER: 0000950135-01-502310 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010807 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010808 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASPEN TECHNOLOGY INC /DE/ CENTRAL INDEX KEY: 0000929940 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 042739697 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24786 FILM NUMBER: 1701008 BUSINESS ADDRESS: STREET 1: TEN CANAL PARK CITY: CAMBRIDGE STATE: MA ZIP: 02141 BUSINESS PHONE: 6179491000 MAIL ADDRESS: STREET 1: TEN CANAL PARK CITY: CAMBRIDGE STATE: MA ZIP: 02141 8-K 1 b40279ate8-k.txt ASPEN TECHNOLOGY INC. 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 (Date of earliest event reported): August 7, 2001 ASPEN TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) DELAWARE 0-24786 04-2739697 - -------------------------------------------------------------------------------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) Ten Canal Park, Cambridge, Massachusetts 02141 ---------------------------------------------------- (Address of principal executive office and zip code) (617) 949-1000 ------------------ (Registrant's telephone number, including area code) ------------------ 2 ITEM 5. OTHER EVENTS. On August 7, 2001, we reported our financial results for our fourth quarter and fiscal year ended June 30, 2001. Our total revenues for the fourth quarter were $83.0 million, up 9 percent sequentially from our third quarter. Our license revenues totaled $40.0 million and services revenues were $43.0 million for the quarter ending June 30, 2001. We reported a pro forma loss per share of $0.06, which excludes one-time acquisition and restructuring charges and amortization of goodwill. Excluding these charges and expenses relating to PetroVantage, our wholly owned subsidiary providing software to optimize the trading and logistics of crude oil and refined products, we reported pro forma net income of $0.4 million or $0.01 per diluted share. We also announced that, in light of economic uncertainties, we anticipate making additional expense reductions to improve our efficiency and return to profitability as soon as possible. These actions include reducing our worldwide workforce, which numbered 1,900 at June 30, 2001, by approximately 5 percent. For the fiscal year ended June 30, 2001, we reported total revenues of $310.6 million, up 16 percent from $268.1 million reported in fiscal 2000. We reported a pro forma net loss of $3.5 million, or ($0.12) per basic share, excluding amortization of goodwill, one-time acquisition and restructuring costs, and write-off of our e-Chemicals investment. Excluding these expenses and the costs related to PetroVantage, we reported pro forma net income of $2.3 million or $0.07 per diluted share. 3 The following tables present unaudited selected consolidated financial data as of, and for the quarters and fiscal years ended, June 30, 2000 and 2001 (in thousands, except per share information):
Quarter Ended Fiscal Year Ended ------------------------- ---------------------- June 30, June 30, June 30, June 30, 2001 2000 2001 2000 -------- -------- -------- -------- CONSOLIDATED STATEMENTS OF OPERATIONS DATA: Revenues Software licenses $ 40,012 $47,272 $147,448 $132,843 Services 43,012 36,081 163,176 135,250 -------- ------- -------- -------- Total revenues 83,024 83,353 310,624 268,093 -------- ------- -------- -------- Expenses Cost of software licenses 3,151 2,875 11,856 9,605 Cost of services 25,734 22,704 98,295 85,193 Selling and marketing 31,846 28,896 113,608 91,863 Research and development 18,763 15,129 68,913 51,567 General and administrative 8,189 7,408 30,643 24,736 Restructuring and other charges 6,969 -- 6,969 -- Charge for in-process research and development 2,300 1,547 9,915 1,547 -------- ------- -------- -------- Total costs and expenses 96,952 78,559 340,199 264,511 -------- ------- -------- -------- Income (loss) from operations (13,928) 4,794 (29,575) 3,582 Other income (expense), net 650 70 669 (37) Write-off of investment -- -- (5,000) -- Interest income, net 878 1,110 4,799 4,207 -------- -------- -------- -------- Income (loss) before provision for (benefit from) income taxes (12,400) 5,974 (29,107) 7,752 Provision for (benefit from) income taxes (3,720) 1,411 (8,732) 2,324 -------- ------- -------- -------- Net income (loss) $ (8,680) $ 4,563 $(20,375) $ 5,428 ======== ======= ======== ======== Diluted earnings (loss) per share $ (0.28) $ 0.14 $ (0.68) $ 0.18 Weighted average shares outstanding -- diluted 30,572 31,794 29,941 30,785 Basic earnings (loss) per share $ (0.28) $ 0.16 $ (0.68) $ 0.19 Weighted average shares outstanding -- basic 30,572 28,783 29,941 28,221
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June 30, June 30, 2001 2000 -------- -------- CONSOLIDATED CONDENSED BALANCE SHEET DATA: Assets Current assets Cash, cash equivalents and short-term investments $ 67,638 $113,532 Accounts receivable and unbilled services, net 116,389 103,675 Current portion of long-term installments receivable, net 31,094 24,873 Deferred tax asset 3,252 3,300 Prepaid expenses and other current assets 17,591 16,175 -------- -------- Total current assets 235,964 261,555 Long-term installments receivable, net 43,428 28,301 Equipment and leasehold improvements, net 43,276 36,093 Computer software development costs, net 8,539 7,026 Intangible assets, net 43,964 8,856 Deferred tax asset 15,686 10,130 Other assets 15,737 12,984 -------- -------- Total assets $406,594 $364,945 ======== ======== Liabilities and Stockholders' Equity Current liabilities Current portion of long-term debt $ 2,539 $ 1,327 Accounts payable and accrued expenses 63,024 53,392 Unearned revenue 18,711 13,903 Deferred revenue 24,341 23,553 -------- -------- Total current liabilities 108,615 92,175 Long-term debt, less current maturities 88,149 88,173 Deferred revenue, less current portion 8,190 14,374 Other liabilities 635 1,025 Total stockholders' equity 201,005 169,198 -------- -------- Total liabilities and stockholders' equity $406,594 $364,945 ======== ========
ASPENTECH is one of our trademarks. 5 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. ASPEN TECHNOLOGY, INC. Dated: August 8, 2001 By: /s/ Lisa W. Zappala ----------------------------------- Lisa W. Zappala Senior Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----