-----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, Jezio1kRpxCy5lBHlsnNbEDyVJcmeLWrqiyBLIdphxh9exwLNbiQXyX4rc4Qm9GC B/LChKLaGVYSi/KIe8dm7w== 0000891092-03-003396.txt : 20031118 0000891092-03-003396.hdr.sgml : 20031118 20031118161653 ACCESSION NUMBER: 0000891092-03-003396 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031118 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LOGILITY INC CENTRAL INDEX KEY: 0001043915 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 582281338 STATE OF INCORPORATION: GA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23057 FILM NUMBER: 031010727 BUSINESS ADDRESS: STREET 1: 470 EAST PACES FERRY ROAD NE CITY: ATLANTA STATE: GA ZIP: 30305 BUSINESS PHONE: 4042619777 MAIL ADDRESS: STREET 1: 470 EAST PACES FERRY ROAD NE CITY: ATLANTA STATE: GA ZIP: 30305 8-K 1 e16271_8k.txt FORM 8-K ================================================================================ 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) November 18, 2003 LOGILITY, INC. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Georgia 0-23057 58-2281338 - ---------------------------- ---------------- ------------------- (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 470 East Paces Ferry Road, N.E. Atlanta, Georgia 30305 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (404) 261-9777 ================================================================================ Item 7(c). Exhibit Exhibit 99.1 Press Release of Logility, Inc., dated November 18, 2003, reporting Logility, Inc.'s financial results for the second quarter of fiscal year 2004. Item 12. Results of Operations and Financial Condition Attached hereto as Exhibit 99.1 and incorporated by reference herein is financial information for Logility, Inc. for its second fiscal quarter, ended October 31, 2003, and certain forward-looking statements, as presented in a press release of November 18, 2003. The information in this report shall be deemed incorporated by reference into any registration statement heretofore or hereafter filed under the Securities Act of 1933, as amended, except to the extent that such information is superseded by information as of a subsequent date that is included in or incorporated by reference into such registration statement. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended. 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 hereunto duly authorized. LOGILITY, INC. (Registrant) Date: November 18, 2003 By: /s/ Vincent C. Klinges ----------------------- Vincent C. Klinges Chief Financial Officer 2 EXHIBIT INDEX Exhibit No. Subject Matter - ----------- -------------- Exhibit 99.1 Press Release of Logility, Inc., dated November 18, 2003, reporting Logility, Inc.'s financial results for the second quarter of fiscal year 2004. 3 EX-99.1 3 e16271ex99_1.txt PRESS RELEASE Exhibit 99.1 Logility Reports Second Quarter of Fiscal Year 2004 Results Quarterly and Year To Date Operating Income Up Compared to Last Year ATLANTA, Nov. 18 /PRNewswire-FirstCall/ -- Logility, Inc. (Nasdaq: LGTY), a leading supplier of collaborative solutions to optimize the supply chain, today announced financial results for the second quarter of fiscal year 2004. The second quarter total revenues were $5.2 million, with software license fees of $1.2 million, compared to $1.3 million in the same period last year. Services and other revenues were $1.3 million, compared to $1.4 million in the same period last year. Maintenance revenues were $2.7 million, unchanged from $2.7 million in the same period last year. For the second quarter, the Company reported operating income of $157,000 compared to an operating income of $20,000 for the same period last year and net income of $221,000 or earnings per diluted share of $0.02, compared to a net income of $214,000 or earnings per diluted share of $0.02 for the same period in the prior year. Total revenues for the six months ended October 31, 2003 were $10.5 million compared to $11.2 million for the same period last year. Software license fees for the six months ended October 31, 2003 were $2.3 million compared to $3.0 million for the same period last year. Services and other revenues were $2.7 million compared to $2.8 million for the same period last year. Maintenance revenues were $5.5 million compared to $5.4 million for the same period last year. For the six months ended October 31, 2003, the company reported net income of $591,000, or earnings per diluted share of $.04 compared to a net income of approximately $123,000 or earnings per diluted share of $.01 for the same period in the prior year. The overall financial condition of the Company remains strong with cash and investments of approximately $27.7 million and no debt. The Company's cash and investment position increased approximately $3.7 million compared to the quarter ended October 31, 2002. "We are pleased with Logility's performance during the quarter and our continued financial strength, achieving our fifth consecutive quarter of profitability and positive cash flow," said J. Michael Edenfield, Logility president and Chief Executive Officer. "With our launch of Logility Voyager Solutions version 7.0, our latest Internet-based collaborative supply chain optimization suite, Logility is positioned for future growth as we continue to deliver innovation and value for our customers." "Global economic uncertainty and increased competition require distribution-intensive companies to extend their focus on accurately forecasting and managing customer demand," continued Edenfield. "To cost- effectively achieve these customer-driven improvements requires synchronizing production, service, and distribution operations to increase the overall efficiency of the supply chain. Logility Voyager Solutions address these business objectives and expand our customers' information reach, visibility, speed, and responsiveness through collaborative supply chain optimization." Highlights for the second quarter of fiscal year 2004 include: Customers -- Notable new and existing customers placing orders with Logility in the second quarter include Cannondale Bicycle Corporation, Ingram Micro, Shaw Industries, Komatsu America, and Rockline Industries. -- Logility announced that Alberto-Culver Company, an international manufacturer, distributor, and marketer of leading personal care products, has selected Logility Voyager Solutions(TM) to enable collaborative transportation planning and management across its U.S. supply chain network. The Alberto- Culver Company manufactures and markets leading or major brands including Alberto VO5, St. Ives, Molly McButter, Mrs. Dash and TRESemme, and its subsidiary, Sally Beauty Company, is the world's number one marketer of professional beauty care products. -- Rockline Industries, North America's largest supplier of coffee filters and private label wipes, selected and deployed Logility Voyager Solutions(TM) to optimize transportation operations throughout the company. Rockline anticipates a minimum projected savings of eight percent per month in overall reduced transportation costs as a result of its rapid, seven-week implementation. -- Farnell InOne, the international marketer and distributor of electronic components, maintenance, repair and operations (MRO) products and tailored services, has upgraded to Logility Voyager Solutions(TM) Version 6.5. Logility Version 6.5 was live in less than one month, and will increase visibility between Farnell InOne and other Premier Farnell Group companies, to enable increased visibility throughout its supply chain and exceptionally high levels of customer service. -- Logility customers Huhtamaki, one of the world's largest packaging companies, and Mercury Marine, a $1.6B global marine engine company, each made industry presentations on how Logility Voyager Solutions help facilitate the sales and operations planning (S&OP) process to deliver greater visibility and quantifiable results across their entire businesses. Huhtamaki presented at an UK-based consumer goods industry breakfast co-sponsored by IBM and Logility. Mercury Marine spoke at the APICS International Conference held in Las Vegas, Nevada. Products and Technology -- Logility announced the general availability of Logility Voyager Solutions(TM) 7.0, the latest release of Internet-based products that support real-time, global visibility of forecasts, orders, inventories, deliveries and key performance indicators across the supply chain. Logility Voyager Solutions 7.0 help companies reduce supply chain costs, optimize inventory investments, increase sales and improve customer service through innovative demand management, optimized supply chain planning, synchronized production, streamlined warehouse and improved transportation management. -- Logility outlined plans to support full Radio Frequency Identification (RFID) compliance across its supply chain planning, warehouse and logistics products. Logility Voyager WarehousePRO(R) will initially support RFID technology within the warehouse at the carton, pallet and container level to streamline the shipment of goods to retail customers and accelerate the receipt of products into distribution centers. Logility is working with BISSELL, an international manufacturer of home cleaning products, to deploy a rollout plan for RFID technology. -- Logility and Plan4Demand, a Pittsburgh-based consulting services firm specializing in supply chain management solutions, announced a business alliance to provide additional implementation resources, customize best practices training and prioritize business process improvement for the deployment of Logility Voyager Solutions. Plan4Demand and Logility will work together to help companies with distribution-intensive supply chains benefit from faster implementations, and provide the capability to develop and deploy highly customized training, a tangible tool for driving change management and ensuring maximum self-sufficiency. About Logility Logility is a leading supplier of collaborative supply chain solutions. Logility Voyager Solutions enable networks of trading partners including suppliers, manufacturers, distributors and retailers to collaborate, integrate and synchronize their planning, production, warehouse and transportation operations. Logility customers have realized substantial bottom-line results in record time. Logility is proud to serve such customers as Continental Tire North America, Huhtamaki UK, McCormick & Company, Mill's Pride, Pernod-Ricard, Sigma Aldrich, VF Corporation and xpedx. Logility is a majority owned subsidiary of American Software (Nasdaq: AMSWA). For more information about Logility call 1-800-762-5207 or visit www.logility.com . Forward Looking Statements This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, changes in general economic conditions, technology and the market for the Company's products and services including economic conditions within the e-commerce markets; the timely availability and market acceptance of these products and services; the effect of competitive products and pricing; the uncertainty of the viability and effectiveness of strategic alliances; and the irregular pattern of the Company's revenues. For further information about risks the Company could experience as well as other information, please refer to the Company's Form 10-K for the year ended April 30, 2003 and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact Vincent C. Klinges, Chief Financial Officer, Logility, Inc., 470 East Paces Ferry Rd., Atlanta, GA 30305, (404) 261-9777. FAX: (404) 264-5206 INTERNET: www.logility.com or E-mail: askLogility@logility.com. Logility Voyager Solutions is a trademark of Logility. Other products mentioned in this document are registered, trademarked or service marked by their respective owners. LOGILITY, INC. Statements of Operations (In thousands, except per share data) (Unaudited) Second Quarter Ended Six Months Ended October 31, October 31, Pct Pct 2003 2002 Chg. 2003 2002 Chg. Revenues: License $1,174 $1,275 (8%) $2,285 $3,013 (24%) Services & other 1,281 1,396 (8%) 2,735 2,777 (2%) Maintenance 2,712 2,709 0% 5,509 5,411 2% Total Revenues 5,167 5,380 (4%) 10,529 11,201 (6%) Cost of Revenues: License 1,013 778 30% 1,969 1,757 12% Services & other 667 729 (9%) 1,367 1,916 (29%) Maintenance 459 496 (7%) 902 947 (5%) Total Cost of Revenues 2,139 2,003 7% 4,238 4,620 (8%) Gross Margin 3,028 3,377 (10%) 6,291 6,581 (4%) Operating expenses: Research and development 1,395 1,320 6% 2,760 2,735 1% Less: capitalized development (849) (721) 18% (1,651) (1,489) 11% Sales and marketing 1,599 1,848 (13%) 3,220 3,902 (17%) General and administrative 726 910 (20%) 1,481 1,692 (12%) Total operating expenses 2,871 3,357 (14%) 5,810 6,840 (15%) Operating income 157 20 685% 481 (259) nm Other income 64 194 (67%) 110 382 (71%) Income before income taxes 221 214 3% 591 123 380% Income taxes - - - - - - Net Income $221 $214 3% $591 $123 380% Earnings per common share - Basic $0.02 $0.02 0% $0.05 $0.01 400% Earnings per common share - Diluted $0.02 $0.02 0% $0.04 $0.01 300% Weighted average common shares Basic 13,105 13,199 13,119 13,206 Diluted 13,317 13,204 13,322 13,214 nm- not meaningful Balance Sheet Information (in thousands) (Unaudited) October 31, 2003 2002 Cash and Short & Long term investments $27,749 $24,043 Accounts Receivable: Billed 2,510 2,170 Unbilled 672 1,868 Total Accounts Receivable, net 3,182 4,038 Prepaids & Other 371 339 Other Assets 7,926 9,052 Total Assets $39,228 $37,472 Accounts Payable $197 $183 Other Current Liabilities 3,641 4,213 Deferred Revenues 4,213 4,244 Shareholders' Equity 31,177 28,832 Total Liabilities & Shareholders' Equity $39,228 $37,472 SOURCE Logility, Inc. -0- 11/18/2003 /CONTACT: Financial Information Press, Vincent C. Klinges, Chief Financial Officer of Logility, Inc., +1-404-264-5477/ /Company News On-Call: http://www.prnewswire.com/comp/120967.html/ /Web site: http://www.logility.com / (LGTY AMSWA) CO: Logility, Inc.; American Software ST: Georgia IN: CPR MLM STW NET REA HOU SU: ERN -----END PRIVACY-ENHANCED MESSAGE-----