-----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, Olk0DZNzR7zMoq2jSKCFcE0CxfqkcEPvbKUnq4saHulV2zGglzG3pD8Mp0WfF8Xh SoAEpNgf+daS7b+h64MFAg== 0000891092-04-002545.txt : 20040517 0000891092-04-002545.hdr.sgml : 20040517 20040517143421 ACCESSION NUMBER: 0000891092-04-002545 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040517 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040517 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DYNTEK INC CENTRAL INDEX KEY: 0000879465 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 954228470 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11568 FILM NUMBER: 04811584 BUSINESS ADDRESS: STREET 1: 18881 VON KARMAN AVENUE STREET 2: SUITE 250 CITY: IRVINE STATE: CA ZIP: 92612 BUSINESS PHONE: 949-955-0078 MAIL ADDRESS: STREET 1: 18881 VON KARMAN AVE STREET 2: SUITE 250 CITY: IRVINE STATE: CA ZIP: 92612 FORMER COMPANY: FORMER CONFORMED NAME: TEKINSIGHT COM INC DATE OF NAME CHANGE: 20000103 FORMER COMPANY: FORMER CONFORMED NAME: TADEO HOLDINGS INC DATE OF NAME CHANGE: 19980212 FORMER COMPANY: FORMER CONFORMED NAME: UNIVERSAL SELF CARE INC DATE OF NAME CHANGE: 19950808 8-K 1 e17952_8k.txt FORM 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 Report: May 17, 2004 (Date of earliest event reported: May 17, 2004) DynTek, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-11568 95-4228470 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 18881 Von Karman Avenue, Suite 250 Irvine, California 92612 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (949) 955-0078 N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) -2- Item 7. Exhibits. (c) Exhibits. 99.1 Press Release dated May 17, 2004 of the Registrant. Item 12. Disclosure of Results of Operations and Financial Condition.. On May 17, 2004, DynTek, Inc. issued a press release announcing its results of operations for 3rd Quarter ended March 31, 2004. A copy of that release is furnished as Exhibit 99.1 to this Report. The information in this Current report on Form 8-K is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 19343, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended. -3- 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. Dated: May 17, 2004 DYNTEK, INC. By: /s/ Steven J. Ross ------------------------------ Name: Steven J. Ross Title: Chief Executive Officer -4- EXHIBIT INDEX Exhibit Number Description - -------------- ----------- 99.1 Press Release, dated May 17, 2004, of the Registrant EX-99.1 2 e17952ex99-1.txt PRESS RELEASE Exhibit 99.1 [LOGO] Dyntek PRESS RELEASE ================================================================================ For more information, contact: Audrey Bold Rob Schatz / Rich Cooper DynTek, Inc. Strategic Growth International 925-513-4571 212-838-1444 audrey.bold@dyntek.com info@sgi-ir.com DynTek Reports EBITDA Positive Earnings for the Third Fiscal Quarter Company Announces 22% Growth in Revenue, Higher Gross Margins and Improved Working Capital Cyber Security Revenue Increases 250% over Prior Year Period Irvine, CA -May 14, 2004- DynTek, Inc. (Nasdaq: DYTK, DYTKP, DYTKW), a leading provider of technology, management and cyber security solutions to the state and local government sector, today announced results for its third fiscal quarter ended March 31, 2004. Revenues during the fiscal quarter increased to $12 million with a gross margin on sales of 21%, as compared to revenues of $9.8 million and a gross margin of 14% during the prior quarter ended December 31, 2003. Selling, general and administrative expenses decreased by 19% from the prior quarter. The company's earnings before amortization, depreciation, interest and tax expense (EBITDA) were positive during the third quarter, compared to a $5.4 million loss in the second fiscal quarter. The company also improved its working capital position by over $4 million during the third fiscal quarter. Following the quarter end, the company's working capital position improved an additional $8 million. "The operational changes and investments we have made over the past several quarters returned significant results in the third fiscal quarter," said Steve Ross, DynTek's chief executive officer. "We have realized substantial increases in both revenue and earnings from operations, and we project that trend to continue in the fourth fiscal quarter." Ross continued, "Our security practice continues to gain critical mass, bolstered by a growing team of nationally recognized industry experts, new contract vehicles and partnerships. Our revenue from security-related solutions over the past four quarters has increased 250% over the prior comparable period. We are also pursuing additional strategic acquisitions to further enhance our service offerings, extend our geographic reach and augment our overall revenue growth." -more- -2- PRESS RELEASE ================================================================================ About DynTek DynTek is a leading provider of dynamic technology, management and cyber security solutions to the state and local government market. Our broad range of services is designed to help organizations meet their critical business needs through the effective and innovative use of technology. DynTek's solutions include comprehensive IT security consulting, detection, prevention and mitigation strategies and solutions; document management; staff augmentation; storage solutions; and complete network, server and desktop management and support. Each of our offerings incorporates an approach and methodology derived from over 18 years of experience in the assessment, design, implementation, management and support of dynamic technology solutions. For more information, visit www.dyntek.com. # # # Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that certain statements in this release are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, success in reaching target markets for services and products in a highly competitive market and the ability to attract future customers, the size and timing of additional significant orders and their fulfillment, the success of the Company's business emphasis, the ability to finance and sustain operations, including the ability either to maintain and extend the Textron Factoring Facility when it becomes due or to replace it with alternative financing, the ability to raise equity capital in the future, despite historical losses from operations, the ability to fulfill the Company's obligations to third parties, and ability to defend successfully certain ongoing litigation over contract performance, the size and timing of additional significant orders and their fulfillment, the ability to turn contract backlog into revenue and net income, the continuing desire of state and local governments to outsource to private contractors and the ability of the Company to obtain extensions of the remaining profitable DMR contracts at their maturity, the performance of governmental services, the ability to develop and upgrade our technology, and the continuation of general economic and business conditions that are conducive to governmental outsourcing of service performance and the acquisition of other services and products. The Company has no obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements. -----END PRIVACY-ENHANCED MESSAGE-----