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) SEPTEMBER 17, 1997
WILTEK, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
STATE OF INCORPORATION- CONNECTICUT
COMMISSION FILE NUMBER- 0-2401
IRS EMPLOYER IDENT. NO.- 06-0625999
ADDRESS- 542 WESTPORT AVE, NORWALK CT 06851
TELEPHONE NUMBER 203-853-7400
NORWALK, Conn.--(BUSINESS WIRE)--Sept. 17, 1997--Wiltek, Inc.
(NASDAQ-WLTK), today announced that it has terminated the planned
merger of a Wiltek subsidiary with SplinterCom, L.L.C., an entity
formed by Internet Splinter Group L.L.C. Wiltek terminated the
merger due to SplinterCom's failure to secure the requisite financing
within the requisite time period. Pursuant to the terms of the
merger agreement, SplinterCom is required to pay for Wiltek's
out-of-pocket costs in connection with the contemplated transaction.
``Wiltek's officers and directors intend to continue to pursue
opportunities to enhance shareholder value and accelerate growth,''
said David Teitelman, Wiltek's president. ``While Wiltek's Board of
Directors obviously felt that the merger with SplinterCom was one way
to achieve this result, it is by no means the only way to do so.''
The company maintains a strong balance sheet with very little
debt, and recently reported that revenues for the third quarter of
fiscal 1997 exceeded revenues for the corresponding quarter of fiscal
1996 by 20%. Wiltek also reported an 18% increase in revenues for
the first nine months of this year over the same period last year.
Furthermore, management expects comparable revenue growth through the
end of fiscal 1997 and into fiscal 1998.
Wiltek provides electronic messaging, enhanced directory
synchronization, fax transport and consulting services to corporate
accounts worldwide. Wiltek performs all design required for the
implementation and operation of its worldwide message and data
communication services. Those services enable Wiltek's customers to
communicate seamlessly with electronic mail, among all intra- and
inter-company messaging systems both private and public.
Wiltek's principal offices are located at 542 Westport Avenue,
Norwalk, CT. Wiltek (UK) Ltd. is a wholly owned subsidiary which
was organized in England in 1983, to provide Wiltek services to
international users. Wiltek (UK) Ltd. is located at 2 Apple Walk,
Swindon, England.
