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) March 1, 1999
STERLING COMMERCE, INC.
(Exact Name of Registrant as Specified in Charter)
STATE OF DELAWARE 1-14196 75-2623341
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
300 CRESCENT COURT, SUITE 1200, DALLAS, TEXAS 75201
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code(214) 981-1100
ITEM 5. OTHER EVENTS.
On March 1, 1999, the Board of Directors of Sterling Commerce, Inc.
(the "Company") approved a stock repurchase program authorizing the
repurchase by the Company of up to five million shares of its outstanding
common stock. Purchases will be made from time to time as market and
business conditions warrant, in open market, negotiated or block
transactions. The Company has approximately 95 million shares of common
stock outstanding.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibits.
Exhibit
Number Exhibit
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99.1 Press release, dated March 1, 1999, issued by
Sterling Commerce, Inc.
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 hereunto duly authorized.
STERLING COMMERCE, INC.
(Registrant)
Date March 1, 1999 By /s/ Albert K. Hoover
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Albert K. Hoover
Senior Vice President, Secretary
and General Counsel
INDEX TO EXHIBITS
Exhibit
Number Exhibit
- ------- -------
99.1 Press release, dated March 1, 1999, issued by Sterling
Commerce, Inc.
Exhibit 99.1
Contact: Dawn Wheeler Vice President, Investor Relations
Sterling Commerce, Inc.
(614) 793-7000
STERLING COMMERCE ANNOUNCES STOCK REPURCHASE PROGRAM
Columbus, Ohio, March 1, 1999 - Sterling Commerce, Inc. (NYSE:SE), a
leading worldwide provider of business-to-business electronic commerce (EC)
software and services, today announced that its Board of Directors has
approved a stock repurchase program authorizing the repurchase by the
company of up to five million shares of its outstanding common stock.
Purchases will be made from time to time as market and business conditions
warrant, in open market, negotiated or block transactions. Sterling
Commerce has approximately 95 million shares of common stock outstanding.
"Recent market conditions have created an attractive opportunity to
repurchase our shares," said Warner C. Blow, president and chief executive
officer. "We believe our stock is undervalued at this time and this program
confirms our confidence in the company and its future."
About Sterling Commerce
Sterling Commerce is a leading global provider of
business-to-business electronic commerce software and value-added services.
A Forbes 500 company, Sterling Commerce is ranked as one of the Top 100
technology companies by The Red Herring, a magazine that covers the
business of technology. Sterling Commerce has been providing electronic
commerce solutions for 25 years, and has 37 office locations and more than
40 distributors worldwide. Sterling Commerce had 1998 revenues of more than
$490 million, and has more than 42,000 customers worldwide supported by its
2,300 employees. For more information, visit the Sterling Commerce website
at www.sterlingcommerce.com.
