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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) April 27, 1999
Seagate Software, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 77-0397623
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State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
915 Disc Drive, Scotts Valley, California 95066
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (831) 438-6550
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Not applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
The Company provides the following supplemental quarterly financial data for the
Network & Storage Management Group business of Seagate Software, Inc. The
supplemental quarterly financial data is for all quarters of fiscal 1997 and
1998 and for the first two quarters of fiscal 1999. Net income/(loss) per share
information is not provided because the Network & Storage Management Group does
not have a formal capital structure.
The supplemental quarterly financial data has not been audited or reviewed by
the Company's independent auditors.
Supplemental Quarterly Financial Data
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Quarterly for fiscal 1997
Not reviewed, in thousands
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<CAPTION>
Quarters Ended
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Sept. 27, 1996 Dec. 27, 1996 March 28, 1997 June 28, 1997
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<S> <C> <C> <C> <C>
Revenue $35,175 $37,144 $ 34,120 $35,063
Gross Margin 26,903 29,088 23,832 29,567
Loss from operations (5,954) (7,180) (19,105) (8,969)
Net loss (4,319) (5,848) (15,621) (7,412)
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The results of the quarter ended September 27, 1996 include a $780,000 write-off
of developed technology acquired in the Netlabs, Inc. acquisition. The results
of the quarter ended December 27, 1996 include write-offs totaling $1.3 million
of developed technology acquired in the Network Computing Inc., and Creative
Interaction Technologies, Inc., acquisitions. The results of the quarter ended
March 28, 1997 include write-offs totaling $4.8 million of developed technology
and write-offs of $6.2 of goodwill acquired in the Calypso Software Systems,
Inc., Frye Computer Systems and Palindrome acquisitions. The results of the
quarter ended June 28, 1997 include a restructuring charge netting to $2.5
million. This charge was comprised of $3.4 million arising from the decision
to shutdown the Manchester operations and sell the technology acquired from
Calypso Software Systems, Inc., and the decision to consolidate the Network &
Storage Management Group business which resulted in the shutdown of Seagate
Software's Cupertino facility. The $3.4 million restructuring charge was reduced
by $957,000 for the reversal of amounts pertaining to fiscal 1996 restructuring
actions that were completed at less than originally estimated costs.
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Quarterly for fiscal 1998
Not reviewed, in thousands
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<CAPTION>
Quarters Ended
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Oct. 3, 1997 January 2, 1998 April 3, 1998 July 3, 1998
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<S> <C> <C> <C> <C>
Revenue $39,197 $44,116 $48,226 $43,507
Gross Margin 31,594 38,657 42,122 39,338
Income/(loss) from operations (1,478) 2,856 7,871 181
Net income/(loss) (1,904) 655 3,919 186
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</TABLE>
The results of the quarter ended January 2, 1998 include write-offs totaling
$1.9 million relating to the capitalized assembled workforce and associated
goodwill of Network Computing Inc., Netlabs, Inc., and Creative Interaction
Technologies, Inc. The results of the quarter ended July 3, 1998 include a $6.8
million write-off of in-process research and development in connection with the
acquisition of Eastman Software Storage Management Group, Inc.
Quarterly for fiscal 1999
Not reviewed, in thousands
First and second quarters only
Quarters Ended
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Oct. 2, 1998 January 1, 1999
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Revenue $48,533 $58,867
Gross Margin 44,167 54,623
Income from operations 8,345 15,969
Net income 4,001 9,322
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There were no unusual items to report in the quarters ended October 2, 1998 and
January 1, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
SEAGATE SOFTWARE, INC.
Dated: May 20, 1999 By: /s/ Ellen E. Chamberlain
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Ellen E. Chamberlain
Senior Vice President, Treasurer and
Chief Financial Officer
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