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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):
December 31, 1997
SNYDER COMMUNICATIONS, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 1-12145 52-1983617
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
Two Democracy Center, 6903 Rockledge Drive
15th Floor, Bethesda, Maryland 20817
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(Address of principal executive offices) (Zip Code)
(301) 468-1010
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
Post-Merger Financial Results
The following is a summary of certain interim financial information of
Snyder Communications, Inc. (the "Company"), on a consolidated basis, reflecting
the combined operations of the Company, including GEM Communications, Inc.
("GEM"), Rapid Deployment Group Limited ("RDL"), and PharmFlex, Inc.
("PharmFlex"). The acquisitions of GEM and RDL occurred in November 1997 in
transactions which were accounted for as poolings of interests for financial
reporting purposes. The acquisition of PharmFlex occurred in December 1997 and
was also accounted for as a pooling of interests for financial reporting
purposes. At December 31, 1997, the Company had consolidated current assets and
noncurrent assets of $151.2 million and $93.0 million, respectively. Also, at
December 31, 1997, the Company had current liabilities and noncurrent
liabilities of $87.4 million and $7.1 million, respectively. For the month
ended December 31, 1997, the Company recorded $31.6 million in consolidated net
revenues and $11.2 million in gross profit. The Company recorded $2.0 million
in acquisition costs during the month ended December 31, 1997 related to the
acquisition of PharmFlex. For the month ended December 31, 1997, the Company
had income before taxes and acquisition costs of $4.7 million and income before
taxes of $2.7 million. The Company had net income before acquisition costs of
$3.0 million and net income of $1.0 million for the month ended December 31,
1997.
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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 thereunto duly authorized.
SNYDER COMMUNICATIONS, INC.
(Registrant)
Date: February 17, 1998 By: Michele D. Snyder
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Michele D. Snyder
Vice Chairman, President
and Chief Operating Officer
Date: February 17, 1998 By: A. Clayton Perfall
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A. Clayton Perfall
Chief Financial Officer
