-----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, WqXyppsdkode0SZHasvfAZAEMNPLmmn7B4QLpM03iMvXmjrHccEnojtG/NfkY9th fA2O0+lOLZYjIJ3s338muQ== 0001144204-08-030086.txt : 20080516 0001144204-08-030086.hdr.sgml : 20080516 20080515214401 ACCESSION NUMBER: 0001144204-08-030086 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080515 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080516 DATE AS OF CHANGE: 20080515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASTEA INTERNATIONAL INC CENTRAL INDEX KEY: 0000945989 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 232119058 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26330 FILM NUMBER: 08840209 BUSINESS ADDRESS: STREET 1: 240 GIBRALTAR ROAD CITY: HORSHAM STATE: PA ZIP: 19044 BUSINESS PHONE: 2156822500 MAIL ADDRESS: STREET 1: 240 GIBRALTAR ROAD CITY: HORSHAM STATE: PA ZIP: 19044 8-K 1 v114833_8k.txt 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): May 15, 2008 ASTEA INTERNATIONAL INC. ------------------------ (Exact name of registrant as specified in its charter) Delaware 0-26330 23-2119058 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 240 Gibraltar Road Horsham, Pennsylvania 19044 (Address of principal executive offices, including zip code) (215) 682-2500 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) - -------------------------------------------------------------------------------- Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On May 15, 2008 Astea International Inc. (the "Registrant") issued a press release announcing the results for its first quarter 2008, which are set forth in the press release in an Exhibit hereto. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (c) Exhibits. The following exhibit is filed herewith: EXHIBIT NO. DESCRIPTION OF EXHIBIT 99.1 News Release disseminated on May 15, 2008 by the Registrant announcing the financial results for its first quarter 2008. 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. ASTEA INTERNATIONAL INC. By: /s/Rick Etskovitz -------------------------------- Rick Etskovitz Chief Financial Officer Dated: May 15, 2008 EX-99.1 2 v114833_ex99-1.txt Exhibit 99.1 [COMPANY LOGO] Astea Reports First Quarter 2008 Results HORSHAM, Pa., May 15 /PRNewswire-FirstCall/ -- Astea International Inc. (Nasdaq: ATEA), a global provider of service management solutions, today released financial results for the first quarter of 2008. For the first quarter ended March 31, 2008, Astea reported revenues of $7.0 million compared to revenues of $9.5 million for the same period in 2007. Net loss for the first quarter was $425,000 or $.12 per share, compared to a net profit of $3.0 million or $.83 per share for the same period in 2007. License revenues were $1.4 million compared to $2.8 million in 2007. Total service and maintenance revenue decreased 17% to $5.6 million. Due to the effects of the restatements announced last year and earlier this year, quarter to quarter comparisons may not be an effective gauge of the trend in Astea's performance, and reference should be made to the relevant quarterly and annual filings for further detail. "Although our first quarter results were unsatisfactory, we remain confident in our ability to achieve our goals for 2008, as our pipeline is strong in North America, Europe and the Asia Pacific regions. We have strengthened our infrastructure and hired additional sales and marketing personnel in both our APAC and EMEA offices. As a result of this investment and focus, we expect to see an incremental increase in revenues and a strong contribution to our ongoing financial performance." stated Zack Bergreen, CEO of Astea International. "Despite a still uncertain economic climate, we continue to aggressively execute demand generation and brand awareness campaigns to stay on top of the minds of those in our target market. We are definitely seeing more and more companies taking a closer look at leveraging technology to transform their service business from a cost center to a profit center, especially when declining product profit margins and competition are making it harder to survive in today's economy. Because of our leadership position and more than 29 years of experience, we continue to be the vendor of choice that organizations turn to when they want to make that transformation and take their service business to the next level." FIRST QUARTER HIGHLIGHTS -- The quarter included new customers such as a leading mechanical and electrical contractor that installs heating, ventilation, and air-conditioning (HVAC), electrical, and plumbing systems in commercial, industrial, and multi-family residential buildings, as well as additional licenses to existing customers, for both the Astea Alliance and FieldCentrix solutions, as they continue to expand configurations and deploy additional users. -- Released Astea Alliance 8.0 SP2 which delivered more than 30 new back- office features as well as mobility enhancements. -- Maintained strong position on Gartner's Magic Quadrant for Field Service Management. -- Unveiled and demonstrated a fresh focus on reverse logistics at the Reverse Logistics Conference & Expo in Las Vegas in February 2008. Astea will host a conference call that will be broadcast live over the Internet on May 16, 2008 at 11:00 AM EDT to discuss the Company's first quarter financial results. Investors can access the call from the Company's Web site at http://www.astea.com/about_investors.asp. For those who cannot listen to the live broadcast, a replay will be available shortly after the call. About Astea International Astea International (Nasdaq: ATEA) is a global provider of service management software that addresses the unique needs of companies who manage capital equipment, mission critical assets and human capital. With the acquisition of FieldCentrix, Astea complements its existing portfolio with the industry's leading mobile field service execution solutions. Astea is helping companies drive even higher levels of customer satisfaction with faster response times and proactive communication, creating a seamless, consistent and highly personalized experience at every customer relationship touch point. Since its inception in 1979, Astea has licensed applications to companies, around the world, in a wide range of sectors including information technology, telecommunications, instruments and controls, business systems, HVAC, gaming/leisure, imaging, industrial equipment, and medical devices. www.astea.com. Service Smart. Enterprise Proven. Astea and Astea Alliance are trademarks of Astea International Inc. All other company and product names contained herein are trademarks of the respective holders. This press release contains forward-looking statements and expectations of future results that are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could materially affect future results. Among these risk factors are possibilities that the companies mentioned in this press release may not purchase licenses for Astea Alliance, the continuing acceptance of Astea's products, general competitive pressures in the marketplace, and continued overall growth in the customer relationship management solutions industry. Further information regarding these as well as other key risk factors and meaningful cautionary statements that could affect the Company's financial results are included at length in the Company's Form 10-K for the fiscal year ended December 31, 2007, as supplemented in the 10-Q for the Quarter ended March 31, 2008 as filed with the Securities and Exchange Commission. SOURCE Astea International Inc. CONTACT: Investor Relations, Rick Etskovitz, Chief Financial Officer of Astea International Inc., +1-215-682-2500, retskovitz@astea.com CO: Astea International Inc. ST: Pennsylvania IN: CPR STW OTC SU: ERN CCA -----END PRIVACY-ENHANCED MESSAGE-----