-----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, E6Qdemg5lcZnJ6MiIFrJ0BsC8KPs4yx33cW7XJaWOQyywnBMjGLcM17NrSQ7aQH9 bVe3687BLk7Zbao6G5ZnJA== 0000950134-02-009343.txt : 20020809 0000950134-02-009343.hdr.sgml : 20020809 20020809170925 ACCESSION NUMBER: 0000950134-02-009343 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020807 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AVIDYN INC CENTRAL INDEX KEY: 0000897546 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] IRS NUMBER: 752297429 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11922 FILM NUMBER: 02725329 BUSINESS ADDRESS: STREET 1: 16980 DALLAS PARKWAY STREET 2: STE 120 CITY: DALLAS STATE: TX ZIP: 75248 BUSINESS PHONE: 9724476447 MAIL ADDRESS: STREET 1: 16980 DALLAS PARKWAY STREET 2: STE 120 CITY: DALLAS STATE: TX ZIP: 75248 FORMER COMPANY: FORMER CONFORMED NAME: MEDICALCONTROL INC DATE OF NAME CHANGE: 19930219 8-K 1 d98887e8vk.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 (DATE OF EARLIEST EVENT REPORTED): August 7, 2002 AVIDYN, INC. (Exact name of registrant as specified in its charter) DELAWARE 1-11922 75-2297429 (State of (Commission File (IRS employment incorporation) Number) identification no.) 16980 DALLAS PARKWAY SUITE 120 DALLAS, TEXAS 75248 (Address of principal executive offices) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 972-447-6447 ITEM 5. OTHER EVENTS On August 8, 2002, AVIDYN, Inc. (the "Company") announced that Dr. William L. Amos resigned as a member of the Company's Board of Directors. Dr. Amos has served as the Medical Director of a Company subsidiary and therefore not considered an independent director. The Company's Board of Directors is now comprised of a majority of independent directors. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) FINANCIAL STATEMENTS None (b) EXHIBITS 99 Press Release 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. AVIDYN, Inc. Date: August 8, 2002 By: /s/ Joseph A. Hensley -------------------------------- Joseph A. Hensley President 2 INDEX TO EXHIBITS 99 Press Release
EX-99 3 d98887exv99.txt PRESS RELEASE EXHIBIT 99 FOR IMMEDIATE RELEASE CONTACT: MEDIA -- Randall D. Kurtz 972.447.6450 rkurtz@avidyn.com INVESTORS-- investor@avidyn.com AVIDYN REPORTS IMPROVED MID-YEAR RESULTS AND REDUCTION IN DIRECTORS Dallas, Texas (August 8, 2002) -- AVIDYN, Inc. (NASDAQ: ADYN), a leading healthcare information services company for the preferred provider organization (PPO) and payer markets, today reported improved mid-year results. Revenues from continuing operations for the three and six months ended June 30, 2002, were $2,054,000 and $4,078,000, respectively, compared to $1,446,000 and $2,720,000 for the comparable 2001 periods. Net loss from continuing operations was $58,000 or $0.02 per share for the three months ended June 30, 2002 and a $208,000 loss, or $0.06 per share for the six months ended June 30, 2002. This compares to losses from continuing operations in the comparable periods of 2001 of $612,000, or $0.13 per share and $742,000, or $0.16 per share, respectively. "We are quite pleased with our continued improvements reflected in the second quarter results", said Joseph A. Hensley, president of AVIDYN, Inc. "These results reflect the Company's efforts over the last two quarters to reduce costs. Consequently we had positive cash flow from operations during the second quarter. We are proud of what our employees have accomplished so far this year and look forward to continued improvements." AVIDYN also announces the resignation of Dr. William L. Amos, Jr. from the Company's Board of Directors. Dr. Amos's resignation allows the Company to meet the proposed rules requiring a majority of independent directors, since Dr. Amos had previously served as a Medical Director for the Company. The Company wishes to express its appreciation to Dr. Amos for his more than six years of service to the company as a member of the board and as its Medical Director. ABOUT AVIDYN, INC. AVIDYN, Inc. (NASDAQ: ADYN) is a leading healthcare information services company providing enterprise business solutions for the healthcare industry. Based in Dallas, Texas, the company delivers dynamic products for niche healthcare segments through two wholly owned subsidiaries: ppoONE, Inc. and ValueCHECK, Inc. As an Application Service Provider (ASP), ppoONE is the market leader in claims repricing and data management for Preferred Provider Organizations (PPOs), Third Party Administrators (TPAs), healthcare plans and insurance carriers nationwide. ValueCHECK is a turnkey outsource solution for utilization review and case management serving TPAs, PPOs, healthcare plans and insurance carriers nationwide. For more information, visit www.avidyn.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements made in this release are not historical facts and may include forward-looking statements. Forward-looking statements necessarily involve assumptions about risks and uncertainties that could cause actual results to differ materially from any future performance implied or assumed by such statements. Such factors may include, without limitation, trends, management's beliefs, expectations, options, actual and potential competition, and general economic conditions. For further information that could cause actual results to differ from the Company's expectations as well as other factors that could affect the Company's financial statements, please refer to the Company's Annual Report on Form 10-KSB and other reports filed with the Securities and Exchange Commission. Readers are cautioned to assess forward-looking statements in light of the possibility of foreseeable events or conditions. AVIDYN will not undertake to revise or update any statements herein in the future to reflect the occurrence of such events or conditions. ###
THREE MONTHS ENDED JUNE 30, 2002 2001 ------------ ------------ Continuing operations: Revenue $ 2,053,702 $ 1,446,359 Loss from operations (130,201) (1,092,588) Loss from continuing operations (58,462) (612,370) Discontinued operations: Gain from sales of discontinued operations, net of taxes -- $ 6,400 Net income (loss) $ (58,462) $ (605,970) Basic and diluted income (loss) per share: Continuing operations $ (0.02) $ (0.13) Net income (loss) per share $ (0.02) $ (0.13) Weighted average common shares outstanding 3,620,092 4,721,192
SIX MONTHS ENDED JUNE 30, 2002 2001 ------------ ------------ Continuing operations: Revenue $ 4,077,826 $ 2,720,287 Loss from operations (404,945) (1,975,733) Loss from continuing operations (208,062) (742,026) Discontinued operations: Gain from sales of discontinued operations, Net of taxes -- $ 4,239,478 Income from discontinued operations -- $ 95,325 Net income (loss) $ (208,062) $ 3,592,777 Basic and diluted income (loss) per share: Continuing operations $ (0.06) $ (0.16) Discontinued operations -- $ 0.92 ------------ Net income per share $ (0.06) $ 0.76 Weighted average common shares outstanding 3,620,092 4,719,798
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