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 or 1934
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Date of Report (Date of earliest event reported) November 19, 1996
VITECH AMERICA, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA 0-21369 65 041 9086
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(State or other jurisdiction (Commission File (IRS Employer
or incorporation Number) Identification No.)
8807 NORTHWEST 23RD STREET, MIAMI, FLORIDA 33172
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (305) 477-1161
N/A
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(Former name or former address, if changed since last report)
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ITEM 2. OTHER EVENTS
On November 19, 1996, Vitech America, Inc. reported its sales and
earnings for the third quarter and nine months ended September 30, 1996. The
sales and earnings are set forth in a press release, a copy of which is attached
hereto as an exhibit.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
EXHIBITS
9.9 Press Release dated November 19, 1996 concerning the Company's
sales and earnings for the three months and nine months ended September
30, 1996.
2
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SIGNATURES
Pursuant to 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.
VITECH AMERICA, INC.
By: /s/ WILLIAM C. ST. LAURENT
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William C. St. Laurent
President
DATED: November 19, 1996
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EXHIBIT 99.1
VITECH AMERICA, INC.
8807 NORTHWEST 23RD STREET
MIAMI, FL 33172 USA
PH: 305-477-1161, FAX: 305-477-1379
VITECH AMERICA REPORTS RECORD THIRD QUARTER
AND NINE MONTH SALES AND EARNINGS
Miami, FL, November 19, 1996 -- Vitech America, Inc. (NASDAQ.-VTCH) today
announced record sales and earnings for the third quarter and nine months ended
September 30, 1996.
For the third quarter sales rose 155 percent to $17,845,553 from $7,005,348 in
the same 1995 period. Net income in 1996 grew to $2,100,604 from $79,554 in the
same period last year. Earnings per share for the third quarter of 1996
increased to $0.25 from $0.01.
For the nine month period ended September 30, 1996, sales grew 60 percent to
$43,925,852 from $27,462,396 in the comparable period in the prior year. Net
income for the current nine months increased more than tenfold to $4,804,745, or
$0.56 per share from $477,275, or $0.06 per share.
Vitech America, Inc. is a US-based manufacturer and distributor of personal
computers, business systems integration and network equipment, and related
products. The core business of Vitech is in the manufacturing, distributing, and
selling of its own brand name PC's in Brazil.
The Company's initial public offering of 2,000,000 shares of Common Stock at a
price of $10.00 per share took place on November 4, 1996.
<TABLE>
<CAPTION>
VITECH AMERICA, INC.
(Unaudited)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
1996 1995 1996 1995
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<S> <C> <C> <C> <C>
Sales: $17,845,553 $7,005,348 $43,925,852 $27,462,396
Net Income: 2,100,604 79,554 4,804,745 477,275
Net Income
Per Share: $0.25 $0.01 $0.56 $0.06
Weighted average
number of
common shares 8,508,606 8,235,255 8,508,606 8,235,255
</TABLE>
For more information please contact:
Ed Kelly, Vitech America, Inc.: (305) 477-1161
Vicki Weiner, VMW, Inc. (212) 605-3140
