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UNITED STATES
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) January 7, 1998
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PRINTRAK INTERNATIONAL INC.
(Exact name of Registrant as specified in its charter)
Delaware 000-20719 33-0070547
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No)
1250 North Tustin Avenue, Anaheim, California 92807
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (714) 238-2000
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Not Applicable
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(Former name or former address, if changed since last report)
Page 1 of 5
Exhibit Index on Page 3
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ITEM 5. OTHER EVENTS
On January 7, 1998, Printrak International Inc. (the "Registrant")
announced a plan to integrate the operations of SunRise Imaging, Inc., a company
acquired by the Registrant in September 1997, into the Registrant's principal
operations headquartered in Anaheim, California. The integration plan is
intended to take advantage of cost savings and operational synergies, and is
expected to be completed during the fourth quarter ending March 31, 1998. The
Registrant will accrue a restructuring reserve covering the expected costs of
the integration plan at the end of the Registrant's third fiscal quarter ended
December 31, 1997.
ITEM 7. EXHIBITS
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated January 7, 1998.
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.
PRINTRAK INTERNATIONAL INC.
Date: January 8, 1998 By: /s/ Alfred M. Castleman
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Alfred M. Castleman
Chief Financial Officer
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EXHIBIT INDEX
SEQUENTIAL
EXHIBIT NO. DESCRIPTION PAGE NO.
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99.1 Press Release dated January 7, 1998 4
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
NEWS ANNOUNCEMENT
Contacts: Al Castleman
Printrak International Inc.
714/238-2000
PRINTRAK TO INTEGRATE IMAGING SUBSIDIARY
ANAHEIM, Calif.--January 7, 1998--Printrak International Inc. (Nasdaq:AFIS)
Wednesday announced a plan to integrate SunRise Imaging Inc., a company which
Printrak acquired last September, into its principal operations headquartered in
Anaheim.
SunRise is a leading developer and manufacturer of high performance systems,
which digitize microfilm and microfiche.
Printrak management has determined that there are significant opportunities for
synergy and cost savings by integrating SunRise and Printrak, particularly in
the areas of marketing and sales, product development, and customer support and
services. In pursuing these opportunities, SunRise and Printrak strive to become
more efficient and thereby ensure the growth of SunRise in the marketplace.
"The synergistic value of the integration will ensure the continuing excellence
in SunRise products and services to our customers, making the company more
effective and efficient," said Steve Butterfield, SunRise president.
Implementation of the integration plan will span the current quarter, with
completion expected by the fiscal year ending March 31, 1998. SunRise's base of
operation will be relocated from Fremont, Calif., to Printrak headquarters in
Anaheim. Certain Fremont-based employees will relocate to Anaheim and others
will provide support through the transitional period. Those employees providing
such services will receive termination severance.
Printrak is confident of the success of this integration, and of the efficiency
and margin benefits that should result in the future. Printrak will accrue a
restructuring reserve covering employee severance, relocation costs, balance
sheet adjustments and building lease obligations at the end of Printrak's third
quarter ended Dec. 31, 1997.
Printrak International is a leading worldwide supplier of integrated
identification and information systems used primarily in criminal justice and
public safety applications, and with increasing frequency in civil applications
such as welfare and immigration control.
The company provides networked fingerprint, photo imaging, computer-aided
dispatch and automated records management systems. The company's systems serve
approximately 700 national, state, county and municipal agencies in 36
countries.
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This news release contains forward-looking statements that involve risk and
uncertainties. Assumptions relating to the foregoing involve judgments with
respect to, among other things, future economic, competitive and market
conditions and future business decisions, all of which are difficult or
impossible to predict accurately and many of which are beyond the control of
Printrak. Although Printrak believes that the assumptions underlying the
forward-looking statements are reasonable, any of the assumptions could prove
inaccurate and, therefore, there can be no assurance that the results
contemplated in the forward-looking statements will be realized. In the light of
the uncertainties inherent in the forward-looking information included herein,
the inclusion of such information should not be regarded as a representation by
Printrak or any other person that Printrak's objectives or plans will be
achieved.
