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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) January 27, 1999
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NAVIGANT INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 000-24387 52-2080967
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
84 INVERNESS CIRCLE EAST
ENGLEWOOD, COLORADO 80112
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (303) 706-0800
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Former name or former address, if changed since last report: Not Applicable
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NAVIGANT INTERNATIONAL, INC.
FORM 8-K
JANUARY 27, 1999
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(a) Financial Statements of Businesses Acquired
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
99.1 Press release, dated February 8, 1999.
ITEM 8. CHANGE IN FISCAL YEAR
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The Board of Directors of Navigant International, Inc. (the "Registrant")
voted on January 27, 1999 to change its fiscal year end from the last Saturday
in April, to the last Sunday in December, effective for the fiscal year ended
December 27, 1998. The Registrant will restate all prior year periods and file
its report for the fiscal year ended December 27, 1998 on a Form 10-K. A copy
of the press release is included as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Date: February 9, 1999.
NAVIGANT INTERNATIONAL, INC.
a Delaware corporation
By: /s/ Robert C. Griffith
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Name: Robert C. Griffith
Title: Chief Financial Officer and Treasurer
(Principal Financial and Accounting
Officer)
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Exhibit 99.1
NAVIGANT INTERNATIONAL ADOPTS CALENDAR YEAR END
DENVER, CO; FEBRUARY 8, 1999 -- Navigant International, Inc. (Nasdaq: FLYR), one
of the largest suppliers of corporate travel services in the U.S., today
announced it is changing its fiscal year from the last Saturday in April to the
last Sunday in December, effective the December 27, 1998 reporting period.
"For most of our companies, this change is merely a return to our historical and
natural year end," said Edward Adams, chief executive officer. "This change
serves two purposes. Foremost, it puts us on a schedule consistent with most of
our customer base, and therefore, helps us prepare year-end customer reporting
more efficiently. It will also help us increase internal reporting efficiency
after an acquisition, since most corporate travel companies end their fiscal
year at the end of December."
Robert Griffith, chief financial officer, said, "This allows our reporting
periods to reflect our natural yearly cycles. Ending on that last Sunday in
December also allows us to close our books cleanly since it coincides with the
cut-off date for reconciling airline ticket sales with the Airlines Reporting
Corporation."
The change to a December year end currently places Navigant in the early part of
its first quarter. On December 1, 1998, the company reported its last quarterly
results for the period ended October 24, 1998. On February 23, 1999, Navigant
will report the comparative results of operations, on an actual and pro forma
basis, for its quarter and fiscal year ended December 27, 1998.
Navigant is one of the five largest providers of corporate travel management
services in the United States based on airline ticket sales. The Company
currently has approximately 435 regional travel offices and on-site customer
travel operations, including offices in 18 of the 25 largest U.S. business
travel markets. The Company's shares are traded on the NASDAQ National Market
System under the symbol "FLYR."
This news release contains forward-looking statements, including statements
about the Company's growth strategies, the integration of prior or potential
future acquisitions, the timing of new acquisitions, the impact of competition,
and general industry or business trends or events. Investors are cautioned that
any such forward-looking statements are not guarantees of future performance and
involve risks and uncertainties. Actual events or results may differ materially
from those discussed in the forward-looking statements as a result of various
factors, including, without limitation, the risk factors detailed from time to
time in the Company's SEC reports, including the reports on Forms 10-K and 10-Q.
The forward-looking statements made herein are only as of the date of this press
release, and the Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
