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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 4, 1997
AMERICAN MANAGEMENT SYSTEMS, INCORPORATED
(Exact name of Registrant as specified in its Charter)
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Delaware 0-9233 54-0856778
(State of Incorporation) (Commission File Number) (IRS Employer Identification Number)
4050 Legato Road
Fairfax, Virginia 22033
(Address of principal executive offices) (Zip Code)
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(703) 267-8000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On September 4, 1997, the Registrant issued a press release regarding
a reduction in the Company's projected net income for 1997. A copy of the
press release is attached as Exhibit A.
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 hereunto duly authorized.
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AMERICAN MANAGEMENT SYSTEMS, INCORPORATED
Date: September 12, 1997 By:/s/ Frank A. Nicolai
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Executive Vice President, Secretary and Treasurer
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Exhibit A
[AMERICAN MANAGEMENT SYSTEMS, INC. NEWS LETTERHEAD]
For Immediate Release NASDAQ Ticker Symbol: AMSY
September 4, 1997 Contact: Jim Marshall
American Management Systems
(703)267-5405
Pauline Weger
American Management Systems
(703)267-5053
AMS REDUCES ESTIMATED 1997 NET INCOME BY $9.5 MILLION
SWISS TELECOM CANCELS MAJOR PROJECT
EPS ESTIMATED AT $0.72-0.81 VS. $0.95-1.03
Fairfax, VA - American Management Systems (AMS) announced today that it is
reducing projected net income for 1997 by approximately $9.5 million because of
the cancellation by Swiss Telecom of the second phase of the Customer Care and
Billing Systems Project. The decision by Swiss Telecom not to proceed with the
second phase came unexpectedly at the end of phase one. AMS met all of its
commitments under phase one and was anticipating the continuation of the
project.
This development, which follows the previously reported wind-down of the
Cellnet project (press release dated August 13, 1997), will adversely affect
AMS's 1997 financial performance. After allowing for redeployment of staff and
other measures to offset the effects, net earnings per share will be
approximately $0.22 lower than the guidance the company previously provided.
AMS's business is to partner with clients to achieve breakthrough performance
through the intelligent use of information technology. AMS is an international
business and information technology consulting firm providing strategic
consulting services, systems integration and customized software solutions.
AMS, which completed its 27th consecutive year of growth, is headquartered in
Fairfax, Virginia, with 53 offices worldwide. AMS's revenues for 1996 were
$812 million.
AMS is one of the top 15 consulting firms in the world. AMS reported 1996
international revenues of $278 million, representing 34% of AMS's total
revenues. The firm has 13 offices in nine countries throughout Europe, with
European headquarters in Frankfurt, Germany.
AMS's site on the World Wide Web is: http://www.amsinc.com
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