-----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, M28zWuKLcOQbMW2nUCwauKfcCBIqH6soPtaRTopAqH1zcjXrzWQrMtGa/p/HTMfx UD0x/iXFFUJHhGCeQgPB/Q== 0001157523-03-000905.txt : 20030402 0001157523-03-000905.hdr.sgml : 20030402 20030402100547 ACCESSION NUMBER: 0001157523-03-000905 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030328 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: USDATA CORP CENTRAL INDEX KEY: 0000943895 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 752405152 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25936 FILM NUMBER: 03635517 BUSINESS ADDRESS: STREET 1: 2435 NORTH CENTRAL EXPRESSWAY CITY: RICHARDSON STATE: TX ZIP: 75080 BUSINESS PHONE: 9726809700 8-K 1 a4365537.txt USDATA 8-K 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 Earliest Event Reported: March 28, 2003 USDATA Corporation (Exact Name of Registrant as Specified in Its Charter) DELAWARE 000-25936 75-2405152 - --------------------------------- ------------------------ ------------------ (State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Incorporation or Organization) Identification No.) 2435 N. Central Expressway, Richardson, TX 75080 (Address of Principal Executive Offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (972) 680-9700 ITEM 9. REGULATION FD DISCLOSURE The following information is being provided under Item 12: On March 28, 2003, USDATA Corporation, a Delaware corporation, issued a Press Release announcing operating results for the fourth quarter and year ended December 31, 2002. The information contained in the Press Release dated March 28,2003, is incorporated herein by reference and attached as Exhibit 99.1 hereto. 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. Dated: March 31, 2003 USDATA CORPORATION By: /s/ Jennifer P. Dooley ------------------------------ Name: Jennifer P. Dooley Title: Chief Financial Officer EXHIBIT INDEX Exhibit No. Document 99.1 Press Release dated March 28, 2003 EX-99 3 a4365537_ex.txt USADATA CORP. EXHIBIT EXHIBIT 99.1 USDATA REPORTS FOURTH QUARTER AND FULL YEAR 2002 RESULTS RICHARDSON, TX, March 28, 2003 (NASDAQ: USDC) - USDATA Corporation, a global provider of industrial automation software and services, today announced operating results for the fourth quarter and year ended December 31, 2002. The company reported revenues of $3.0 million for the fourth quarter of 2002, which are comparable to the fourth quarter of 2001. Revenues for the year ended December 31, 2002 were $10.3 million compared to $13.6 million for the prior year, representing a decline of 24%. Loss from operations was $4.8 million for the fourth quarter of 2002 compared to income from operations of $253,000 for the fourth quarter of 2001. Loss from operations was $7.1 million for the year ended December 31, 2002 compared to $1.9 million for the prior year. Fourth quarter and full year 2002 results include a $3.3 million write down of capitalized software development costs. The capitalized software development is considered impaired as a result of the company redirecting its sales and development efforts to its core software products: FactoryLink(R) and Xfactory(R). Full year results for 2001 include a $1.1 million restructuring charge related to excess office lease space and a $391,000 charge for impaired capitalized software development, as a result of strategy changes of our suppliers. In addition, 2002 results include $730,000 in severance and other restructuring charges, of which $356,000 related to the company's amendment to its office lease agreement in the first quarter of 2002 and $374,000 related to the resignation of our former chief executive officer and from a 23% reduction in workforce implemented in November of 2002. The amended office lease agreement reduced the company's corporate headquarters office lease space, which resulted in a cash savings of approximately $1.0 million in lease costs during 2002. Net loss applicable to common stockholders was $5.4 million for the fourth quarter of 2002, or a loss of $1.76 per common share, compared to net loss applicable to common stockholders of $422,000 in 2001, or a loss of $0.15 per common share. Full year net loss applicable to common stockholders was $11.6 million, or a loss of $3.99 per common share, compared to net loss applicable to common stockholders of $12.7 million in 2001, or a loss of $4.50 per common share. Jim Fleet, interim president and chief executive officer of USDATA commented on today's announcement, "Market conditions in the industrial automation industry remained challenging in the fourth quarter as companies continued to limit capital expenditures. This coupled with the continued downward price pressure in the human machine interface (HMI) market has led to the significant declines in revenues. In Q4, the company released its newest version of its flagship Factorylink(R) software product, which has been well received by the market place. A strong sales pipeline, sales from upgrades, and the impending release of new products continue to make us optimistic about future revenue growth. However, we will continue to work diligently to improve our bottom line and achieve operational efficiencies wherever possible." Mr. Fleet added "with the recent $1.5 million funding from our largest investor and the renewal of our $3.0 million working capital facility, we have already begun to execute our plan of taking our software and services to market in a broader way and getting closer to our customers." Now in its 28th year, USDATA Corporation, headquartered in Richardson, Texas is a leading global provider of software and services that give enterprises the knowledge and control needed to perfect the products they produce and the processes they manage. Based upon a tradition of flexible service, innovation and integration, USDATA's software currently operates in more than 60 countries around the globe, including seventeen of the top twenty-five manufacturers. USDATA's software heritage has emerged from manufacturing and process automation solutions and has grown to encompass vast product knowledge and control solutions. The company has a global network of distribution and support partners. For more information, visit USDATA at www.usdata.com. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding revenues, margins, operating expenses, earnings, growth rates and certain business trends that are subject to risks and uncertainties that could cause actual results to differ materially from the results described herein. Specifically, the ability to grow product and service revenues may not continue and the company may not be successful in developing new products, product enhancements or services on a timely basis or in a manner that satisfies customers needs or achieves market acceptance. Other factors that could cause actual results to differ materially are: competitive pricing and supply, market acceptance and success for service offerings, short-term interest rate fluctuations, general economic conditions, employee turnover, possible future litigation, and related uncertainties on future revenue and earnings as well as the risks and uncertainties set forth from time to time in the company's other public reports and filings and public statements. Recipients of this document are cautioned to consider these risks and uncertainties and to not place undue reliance on these forward-looking statements. All subsequent written and oral forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Contact: Jennifer P. Dooley Chief Financial Officer 972/680-9700, Ext. 359 -----END PRIVACY-ENHANCED MESSAGE-----