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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
OCTOBER 5, 1999
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Date of Report (Date of earliest event reported)
CONCUR TECHNOLOGIES, INC.
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(Exact name of Registrant as specified in its charter)
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DELAWARE 000-25137 91-1608052
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(State of incorporation) (Commission file number) (I.R.S. Employer Identification No.)
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6222 185TH AVENUE NE
REDMOND, WASHINGTON 98052
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(Address of principal executive offices, including zip code)
(425) 702-8808
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(Registrant's telephone number, including area code)
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ITEM 5: OTHER EVENTS
On October 5, 1999, Concur Technologies, Inc. released a preliminary
announcement of its results of operations for the three month period ended
September 30, 1999. These preliminary results are subject to final analysis and
audit. Full fourth quarter and year-end results will be reported on Wednesday,
October 27, 1999.
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS
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NUMBER DESCRIPTION
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99.01 Press release dated October 5, 1999
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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.
Concur Technologies, Inc.
Date: October 18, 1999 By: /s/ STERLING R. WILSON
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Sterling R. Wilson
Executive Vice President of Operations
and Chief Financial Officer
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EXHIBIT INDEX
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NUMBER DESCRIPTION
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99.01 Press release dated October 5, 1999
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EXHIBIT 99.01
CONCUR TECHNOLOGIES ANNOUNCES PRELIMINARY FOURTH QUARTER FINANCIAL RESULTS
Tuesday, October 5, 1999
REDMOND, Wash.--(BUSINESS WIRE)--Oct. 5, 1999--Concur Technologies, Inc.
(Nasdaq:CNQR), the global leader in workplace eCommerce solutions, today
announced that based on a preliminary analysis of results of operations, the
company expects to report total revenues for the fourth quarter of fiscal 1999
in the range of $8.6 million to $9.2 million, which includes approximately $5.0
million to $5.3 million in license revenues.
This compares to securities analyst estimates of approximately $12.3
million to $12.7 million for total revenues, which includes license revenues of
approximately $8.1 million to $8.8 million. For the fourth quarter of fiscal
1998, the company reported total revenues of $6.3 million, which included
license revenues of $3.9 million. These preliminary results are subject to final
analysis and audit. Full fourth quarter and year-end results will be reported on
Wednesday, October 27, 1999.
"Revenues for the fourth quarter, particularly license revenues, were
significantly below expectations, primarily due to an unexpected delay in
closing quarter-end business," said Steve Singh, Concur President and Chief
Executive Officer. "In addition, the three months ended September 30 marked the
first quarter in which we included three products within our suite of workplace
eCommerce applications. Our products now impact a broader range of departments
within companies, and customers need additional time to evaluate the strategic
benefits of purchasing our suite of workplace eCommerce solutions, thereby
somewhat lengthening the sales cycle."
"Despite these disappointing results, we remain confident in our business,
the demand for our products, the strength of our suite of applications and in
our ability to execute on our workplace eCommerce vision. I am very pleased to
announce that we will unveil another component of this vision tomorrow with the
launch of our Internet-based eWorkplace.com(TM) products, which allow us to
expand our reach into the small and middle market, opening a significant and
untapped market." added Mr. Singh.
ABOUT CONCUR TECHNOLOGIES
Concur Technologies, Inc.(TM) is the leading provider of workplace
eCommerce solutions that automate costly and inefficient business processes
among employees, partners, suppliers, and service providers. Its flagship
product, EmployeeDesktop(TM), integrates Concur's suite of workplace eCommerce
solutions, including non-production goods and services procurement, human
resource employee and managerial self-service, and travel and entertainment
expense management, through a common user interface, and provides a business
portal through which employees can access critical information and services.
Concur has licensed its workplace eCommerce solutions to more than 1.8 million
desktops in over 235 companies worldwide. Concur's workplace eCommerce solutions
reduce operating costs, increase employee productivity, and improve supplier
management in small and medium sized businesses and Global 2000 enterprises. Its
customers include AlliedSignal, AT&T, DaimlerChrysler, Exxon, and Pfizer.
Concur's Global Alliance Network -- comprised of over 50 world-class
organizations including ADP, American Express, EDS, and Microsoft -- further
enhances its ability to provide best-of-breed solutions for maximum results.
Headquartered in Redmond, Wash., Concur has
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offices throughout North America, Europe, and the Asia-Pacific rim. Additional
information on Concur is available via the Internet at www.concur.com.
Concur, eWorkplace.com and EmployeeDesktop are trademarks of Concur
Technologies. All other company or product names are trademarks and/or
registered trademarks of their respective owners.
This press release contains forward-looking statements that involve risks
and uncertainties that could cause actual results to differ materially from
current expectations. Statements made in this release that relate to future
plans, events or performances or statements containing words such as "believes,"
"anticipates," "plans," or "expects" are forward-looking statements. These
statements are based on current expectations and involve risks and
uncertainties. Factors that could cause or contribute to actual results
differing from current expectations include, but are not limited to, the
Company's limited operating history, which makes the prediction of future
operating results difficult; risks associated with acquisitions; difficulties
associated with strategic relationships; the lengthening of the sales cycle;
increased customer caution due to Y2K issues; and uncertainty of market
acceptance of the Company's products, including the eWorkplace.com products
designed for the small and middle market.
Please refer to the Company's public filings made with the Securities and
Exchange Commission (http://www.sec.gov) for additional and more detailed
information on risk factors that could cause actual results to differ materially
from current expectations. Concur assumes no obligation to update the
forward-looking information contained in this press release.
CONTACT: Concur Technologies, Inc.
Kira Bacon, 425/497-7342
