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
Cotelligent, Inc.
---------------------------------
(Exact name of registrant as specified in its charter)
September 24, 1999
-------------------------
Date of Report (Date of earliest event reported)
Delaware 0-25372 94-3173918
- -------------------------- ------------ -------------------
(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) Identification No.)
101 California Street - Suite 2050 San Francisco, CA 94111
- ----------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(415)439-6400
-------------------------------
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events.
On September 24, 1999, Cotelligent, Inc. announced earnings expectations
for the three months ending September 30, 1999.
A copy of the press release is attached as an Exhibit to this Current
Report on Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit No. Exhibit
----------- --------
99 Press Release
2
<PAGE>
Signature
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.
COTELLIGENT, INC.
(Registrant)
Dated: October 4, 1999 By: /S/ James R. Lavelle
--------------------
James R. Lavelle
Chairman and
Chief Executive Officer
3
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Page
- ----------- ------------- ----
99 Press Release announcing earnings expectations for
the three months ending September 30, 1999.
4
PRESS RELEASE
Cotelligent, Inc. FOR IMMEDIATE RELEASE
101 California Street, For Information Contact:
Suite 2050 James R. Lavelle, Chief Executive Officer
San Francisco, CA 94111 Daniel E. Jackson, Chief Financial Officer
Telephone: 415-439-6400 Cotelligent #00-22
COTELLIGENT ANNOUNCES
SECOND QUARTER EXPECTATIONS
San Francisco - September 24, 1999 - Cotelligent, Inc. (NYSE: CGZ), a
leading provider of information technology (IT) consulting and outsourcing
services, today announced earnings expectations for the three months ending
September 30, 1999. These expectations are based upon the preliminary results
for the months of July and August 1999.
The company expects revenues in excess of $85 million for the quarter
ending September 30, 1999, compared to $79.7 million for the comparable period
in the prior year and earnings per share of between $0.00 and $0.02 compared to
$0.27 in the same period in the prior year.
The company continues to experience a downturn in demand for its services,
which it believes to be principally related to strategies being employed by the
company's customers of reducing investment in IT infrastructures while their Y2K
compliance is being ascertained.
The company expects to announce definitive results for the second quarter
during the last week of October. The expectations described above are based
solely on preliminary results for the first two months of the quarter and are
subject to further revision or adjustments based upon actual results of
operations for the three month period.
About Cotelligent
Cotelligent is a nationwide provider of information technology (IT)
consulting and outsourcing services to organizations with complex information
system and technology operations. The company comprises more than 3,300
technical consultants and operating staff. Cotelligent's consulting practices
are divided into two groups: Professional Services - IT staff augmentation, and
Technology Solutions which encompasses all of the company's project consulting
services including custom application software development and outsourcing,
solutions through national partnerships with leading enterprise application
software companies, network design, intranet and Internet application design and
development, and IT education. The company is headquartered in San Francisco,
Calif. and its stock is traded on the New York Stock Exchange under the symbol
CGZ. More information is available on the Company's Web site at
http://www.cotelligent.com.
Safe Harbor Statment
Except for historical information contained herein, the information
contained in this news release includes forward-looking statements that involve
certain risks and uncertainties that could cause actual results to vary
materially from such statements. All forward-looking statements included in this
release are based upon information available to Cotelligent as of the date
thereof, and Cotelligent assumes no obligation to update any such
forward-looking statement. Factors that could cause or contribute to such
differences include, but are not limited to: the extent to which customers
continue to reduce investment in IT infrastructures; preliminary nature of the
financial information; review of the financial results by the Company's
auditors; the availability of qualified IT professionals; the rate of hiring,
productivity and retention of revenue-generating personnel; changes in the
pricing of Cotelligent's services; the timing and rate of entrance into new
regional markets; the structure and timing of acquisitions; and general economic
conditions. Please refer to the discussion of risk factors and other factors
included in Cotelligent's Annual Report on Form 10K for the year ended March 31,
1999, the Company's most recent Report on Form 10Q, and other filings made with
the Securities and Exchange Commission.
