<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC. 20549
----------
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
----------
For the year ended Commission file number:
December 31, 1996 Apertus Technologies Incorporated
Savings and Investment Plan 2-91060
Full title of the plan:
Apertus Technologies Incorporated
Savings and Investment Plan
----------
Name of Issuer:
Apertus Technologies Incorporated
---------------------------------
Minnesota 41-1349953
- ------------------------------- -------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation of organization) Identification No.)
7275 Flying Cloud Drive
Eden prairie, Minnesota 55344
---------------------------------------------
(Address of principal executive offices) (Zip Code)
Issuer's telephone number, including area code: (612)828-0300
<PAGE>
Report of Independent Auditors
Apertus Technologies Incorporated
Savings and Investment Plan
We have audited the accompanying statements of net assets available for benefits
of the Apertus Technologies Incorporated Savings and Investment Plan as of
December 31, 1996 and 1995, and the related statements of changes in net assets
available for benefits for the year ended December 31, 1996 and the nine months
ended December 31, 1995. These financial statements are the responsibility of
the Plan's management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan at
December 31, 1996 and 1995, and the changes in its net assets available for
benefits for the year ended December 31, 1996 and the nine months ended
December 31, 1995, in conformity with generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The accompanying supplemental schedules
of assets held for investment purposes as of December 31, 1996 and reportable
transactions for the year then ended, are presented for purposes of complying
with the Department of Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of 1974, and are
not a required part of the basic financial statements. The Fund Information in
the statement of net assets available for benefits and the statement of changes
in net assets available for benefits is presented for purposes of additional
analysis rather than to present the net assets available for benefits and
changes in net assets available for benefits of each fund. The supplemental
schedules and Fund Information have been subjected to the auditing procedures
applied in our audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
/s/ Ernst & Young LLP
Minneapolis, Minnesota
May 19, 1997
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Statement of Net Assets Available for Benefits
December 31, 1996
<TABLE>
<CAPTION>
Stable Fixed Income Equity
Fund Asset Income Growth Growth
Totals Fund Fund Fund Fund
-----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Assets
Accrued income $ 8,467 $ 1 $ 8,437 $ 3 $ 9
Investments
Money market funds 50,287 101 12,455 3,795 11,851
Piper Trust Collective Stable
Asset Fund 310,087 310,087 -- -- --
Apertus Technologies Fixed
Income Fund 562,393 -- 562,393 -- --
Fidelity Advisors Income and
Growth Fund 1,053,269 -- -- 1,053,269 --
Fidelity Advisors Equity Portfolio
Growth Fund 3,001,865 -- -- -- 3,001,865
Piper Trust Emerging Growth Fund 2,498,644 -- -- -- --
Marshall International Stock Fund 1,041,747 -- -- -- --
Apertus Technologies
Incorporated Common Stock 140,504 -- -- -- --
Participant loans 321,104 -- -- -- --
-----------------------------------------------------------------------------------------
Total investments 8,979,900 310,188 574,848 1,057,064 3,013,716
-----------------------------------------------------------------------------------------
Net assets available for benefits $8,988,367 $310,189 $583,285 $1,057,067 $3,013,725
=========================================================================================
<CAPTION>
Emerging International Apertus
Growth Stock Stock Loan
Fund Fund Fund Fund
--------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Assets
Accrued income $ 11 $ 4 $ 2 $ --
Investments
Money market funds 14,930 5,171 1,984 --
Piper Trust Collective Stable
Asset Fund -- -- -- --
Apertus Technologies Fixed
Income Fund -- -- -- --
Fidelity Advisors Income and
Growth Fund -- -- -- --
Fidelity Advisors Equity Portfolio
Growth Fund -- -- -- --
Piper Trust Emerging Growth Fund 2,498,644 -- -- --
Marshall International
Stock Fund -- 1,041,747 -- --
Apertus Technologies
Incorporated Common Stock -- -- 140,504 --
Participant loans -- -- -- 321,104
--------------------------------------------------------------------------
Total investments 2,513,574 1,046,918 142,488 321,104
--------------------------------------------------------------------------
Net assets available for benefits $2,513,585 $1,046,922 $142,490 $321,104
==========================================================================
</TABLE>
See notes to financial statements.
1
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Statement of Net Assets Available for Benefits
December 31, 1995
<TABLE>
<CAPTION>
Stable Fixed Income Equity
Fund Asset Income Growth Growth
Totals Fund Fund Fund Fund
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Assets
Contributions receivable $ 645 $ 140 $ 140 $ -- $ --
Other receivables 104 4 18 9 --
Accrued income 21,658 6 7,692 13,915 11
Investments
Money market funds 131,236 62,131 40,285 4,214 8,805
Apertus Technologies Incorporated
Common Stock 435,899 -- -- -- --
Fidelity Advisors Equity Portfolio
Growth Fund 2,247,753 -- -- -- 2,247,753
Fidelity Advisors Income and
Growth Fund 1,017,859 -- -- 1,017,859 --
Apertus Technologies Fixed
Income Fund 579,982 -- 579,982 -- --
Piper Trust Collective Stable Asset
Fund 415,510 415,510 -- -- --
Piper Trust Emerging Growth Fund 1,464,812 -- -- -- --
Marshall International Stock Fund 694,969 -- -- -- --
Participant loans 245,001 -- -- -- --
-----------------------------------------------------------------------------------
Total investments 7,233,021 477,641 620,267 1,022,073 2,256,558
-----------------------------------------------------------------------------------
Total assets 7,255,428 477,791 628,117 1,035,997 2,256,569
Liabilities
Accrued liabilities 5,038 102 264 586 1,341
Due from/to other funds -- (59,149) (36,679) (15,646) 46,476
-----------------------------------------------------------------------------------
Net assets available for benefits $7,250,390 $418,540 $591,174 $1,019,765 $2,301,704
===================================================================================
<CAPTION>
Emerging International Apertus
Growth Stock Stock Loan
Fund Fund Fund Fund
----------------------------------------------------------------
<S> <C> <C> <C> <C>
Assets
Contributions receivable $ 126 $ 116 $ 123 $ --
Other receivables 39 34 -- --
Accrued income 22 -- 12 --
Investments
Money market funds 7,755 4,404 3,642 --
Apertus Technologies Incorporated
Common Stock -- -- 435,899 --
Fidelity Advisors Equity Portfolio
Growth Fund -- -- -- --
Fidelity Advisors Income and
Growth Fund -- -- -- --
Apertus Technologies Fixed
Income Fund -- -- -- --
Piper Trust Collective Stable
Asset Fund -- -- -- --
Piper Trust Emerging Growth Fund 1,464,812 -- -- --
Marshall International Stock Fund -- 694,969 -- --
Participant loans -- -- -- 245,001
----------------------------------------------------------------
Total investments 1,472,567 699,373 439,541 245,001
----------------------------------------------------------------
Total assets 1,472,754 699,523 439,676 245,001
Liabilities
Accrued liabilities 1,110 1,184 447 4
Due from/to other funds 57,873 81 7,044 --
----------------------------------------------------------------
Net assets available for benefits $1,529,517 $698,420 $446,273 $244,997
================================================================
</TABLE>
See notes to financial statements.
2
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Statement of Changes in Net Assets Available for Benefits
Year ended December 31, 1996
<TABLE>
<CAPTION>
Stable Fixed Income Equity
Fund Asset Income Growth Growth
Totals Fund Fund Fund Fund
----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Additions:
Investment income:
Dividends and interest income $ 154,966 $ 111 $ 41,220 $ 34,929 $ 12,555
Net appreciation/
(depreciation) in fair value 510,901 25,895 (10,398) 51,260 415,626
----------------------------------------------------------------------------------
Total investment income 665,867 26,006 30,822 86,189 428,181
Contributions:
Participants 1,348,239 58,158 70,795 149,849 437,774
Company 130,299 7,091 5,931 16,593 42,542
----------------------------------------------------------------------------------
Total contributions 1,478,538 65,249 76,726 166,442 480,316
Transfer from affiliate plan 630,410 18,349 10,137 58,165 321,844
----------------------------------------------------------------------------------
Total additions 2,774,815 109,604 117,685 310,796 1,230,341
Deductions:
Benefit payments (1,029,016) (174,600) (145,212) (160,273) (267,984)
Expenses (7,822) (2,821) (183) (392) (880)
----------------------------------------------------------------------------------
Total deductions (1,036,838) (177,421) (145,395) (160,665) (268,864)
Interfund transfers -- (40,534) 19,821 (112,829) (249,456)
----------------------------------------------------------------------------------
Net increase/(decrease) 1,737,977 (108,351) (7,889) 37,302 712,021
Net assets beginning of year 7,250,390 418,540 591,174 1,019,765 2,301,704
----------------------------------------------------------------------------------
Net assets end of year $ 8,988,367 $ 310,189 $ 583,285 $ 1,057,067 $ 3,013,725
==================================================================================
<CAPTION>
Emerging International Apertus
Growth Stock Stock Loan
Fund Fund Fund Fund
-------------------------------------------------------------------
<S> <C> <C> <C> <C>
Additions:
Investment income:
Dividends and interest income $ 748 $ 22,450 $ 195 $ 42,758
Net appreciation/
(depreciation) in fair value 225,990 135,062 (332,534) --
-------------------------------------------------------------------
Total investment income 226,738 157,512 (332,339) 42,758
Contributions:
Participants 381,255 175,246 75,162 --
Company 35,173 15,128 7,841 --
-------------------------------------------------------------------
Total contributions 416,428 190,374 83,003 --
Transfer from affiliate plan 194,664 22,013 5,238 --
-------------------------------------------------------------------
Total additions 837,830 369,899 (244,098) 42,758
Deductions:
Benefit payments (208,260) (60,279) (12,408) --
Expenses (942) (1,861) (743) --
-------------------------------------------------------------------
Total deductions (209,202) (62,140) (13,151) --
Interfund transfers 355,440 40,743 (46,534) 33,349
-------------------------------------------------------------------
Net increase/(decrease) 984,068 348,502 (303,783) 76,107
Net assets beginning of year 1,529,517 698,420 446,273 244,997
-------------------------------------------------------------------
Net assets end of year $ 2,513,585 $ 1,046,922 $ 142,490 $321,104
===================================================================
</TABLE>
See notes to financial statements.
3
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Statement of Changes in Net Assets Available for Benefits
Nine months ended December 31, 1995
<TABLE>
<CAPTION>
Stable Fixed Income Equity
Fund Asset Income Growth Growth
Totals Fund Fund Fund Fund
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Investment income:
Dividends and interest income $ 85,901 $ (27) $ 36,146 $ 31,225 $ 3,512
Net appreciation/
(depreciation) in fair value 580,637 17,598 11,695 64,590 463,498
-------------------------------------------------------------------------------------
Total investment income 666,538 17,571 47,841 95,815 467,010
Participant contributions 805,690 57,336 44,597 127,686 212,004
Company contributions 93,955 6,538 6,088 15,316 25,692
Withdrawals (309,739) (21,955) (158,202) (12,481) (28,088)
Interfund transfers -- (71,434) (59,820) (67,427) 178,163
Other 14,335 -- -- -- --
-------------------------------------------------------------------------------------
Net increase/(decrease) in
net assets 1,270,779 (11,944) (119,496) 158,909 854,781
-------------------------------------------------------------------------------------
Net assets available for benefits,
beginning of period 5,979,611 430,484 710,670 860,856 1,446,923
-------------------------------------------------------------------------------------
Net assets available for benefits,
end of period $ 7,250,390 $ 418,540 $ 591,174 $ 1,019,765 $ 2,301,704
=====================================================================================
<CAPTION>
Emerging International Apertus
Growth Stock Stock Loan
Fund Fund Fund Fund
----------------------------------------------------------------
<S> <C> <C> <C> <C>
Investment income:
Dividends and interest income $ 231 $ 14,689 $ 125 $ --
Net appreciation/
(depreciation) in fair value 299,123 56,164 (332,031) --
----------------------------------------------------------------
Total investment income 299,354 70,853 (331,906) --
Participant contributions 162,935 120,945 80,187 --
Company contributions 18,228 12,849 9,244 --
Withdrawals (25,285) (18,608) (43,267) (1,853)
Interfund transfers 173,082 (66,833) (86,219) 488
Other -- -- -- 14,335
----------------------------------------------------------------
Net increase/(decrease) in
net assets 628,314 119,206 (371,961) 12,970
Net assets available for benefits,
beginning of period 901,203 579,214 818,234 232,027
----------------------------------------------------------------
Net assets available for benefits,
end of period $ 1,529,517 $ 698,420 $ 446,273 $ 244,997
================================================================
</TABLE>
See notes to financial statements.
4
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Notes to Financial Statements
December 31, 1996
1. Plan Description
Apertus Technologies Incorporated (the Company) adopted the Lee Data Corporation
Savings and Investment Plan effective June 1, 1984 and adopted a restated
version of such plan effective April 1, 1988. The Plan was renamed the Apertus
Technologies Incorporated Savings and Investment Plan (the "Plan") during fiscal
year 1991. Effective January 1, 1996, the Plan is available to employees of the
Company who are scheduled to complete at least 1,000 hours of service during the
12-month period starting on their employment date. Prior to that date, only
employees of the Company who had worked 1,000 hours were eligible to participate
in the Plan.
Any employee employed by the Company before January 1, 1984 was eligible to
participate in the Plan on the effective date.
The Plan provides that eligible employees may contribute on a pre-tax basis up
to 15% of their earnings to the maximum as stated by law. Such contributions are
not subject to income taxes until withdrawn from the Plan. Company matching
contributions are discretionary as determined by the Board of Directors. During
fiscal year 1996 and the nine month period ended December 31, 1995, the Company
contributed an amount equal to 25% of the employee's contribution, up to the
first 4% of the employee's pre-tax compensation. Employee contributions are 100%
vested immediately. Company contributions vest at the rate of 25% for each year
of service as a Plan participant. An employee with 4 years of service becomes
fully vested in the Plan regardless of length of participation. Benefits are
paid upon retirement, death, disability or termination of employment.
Participant forfeitures are used to reduce, by an equivalent amount, employer
contributions. Administration expenses of the Plan are payable out of fund
assets except to the extent the Company, in its discretion, directly pays them.
Participants may borrow funds against their investment account. Loans (principal
plus interest) are repaid through payroll deductions. Interest is charged at the
prime rate plus one percent, computed 60 days before the date of the loan. The
security for each loan is the participant's account.
5
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Notes to Financial Statements (continued)
1. Plan Description (continued)
Effective January 1, 1996, the BlueLine Software Inc. 401(k) Profit Sharing Plan
and plan assets totaling $630,410 were merged into the Plan.
Effective January 1, 1996, the assets of the Plan are held by Piper Trust
Company (the "Trustee"). Prior to January 1, 1996, the Trustee was Marshall
Illsley Trust Company. The Plan is administered by a committee appointed by the
Board of Directors of the Company.
The foregoing description of the Plan provides only general information.
Participants should refer to the plan document for a more complete description
of the Plan's provisions.
2. Significant Accounting Policies
The Plan operates on the accrual basis of accounting.
Investments are stated at market value. Investments in common stock are based on
market quotations. Other investments are stated at market value as determined by
the Trustee based on market value of the funds and the number of units in each
fund. Market values are determined based on an active market.
All common stock transactions are recorded based on trade date.
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the amounts reported in the financial statements and accompanying notes.
Actual results could differ from those estimates.
6
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Notes to Financial Statements (continued)
3. Investment Program
The Plan participants can direct that their contributions be invested in one or
more of the following funds in increments of 5%.
Stable Asset Fund (Piper Trust Collective Stable Asset Fund)--This fund may
invest in a diversified portfolio of insurance contracts from insurance
companies.
Fixed Income Fund (Apertus Technologies Fixed Income Fund)--This fund may invest
in U.S. Government and agency securities, prime commercial paper, guaranteed
investment contracts, and the money market funds of the trustee.
Income Growth Fund (Fidelity Advisor Income and Growth Fund)--This fund may
invest in both stocks and bonds.
Equity Growth Fund (Fidelity Advisor Equity Portfolio Growth Fund)--This fund
may invest in growth stocks and the securities of smaller lesser known
companies, as well as medium and larger size companies.
Emerging Growth Fund (Piper Trust Emerging Growth Fund)--This fund may invest in
stocks of small to medium sized companies. At least 65% of the assets are
invested in companies with significant presence in the Midwest, Mountain and
Pacific Northwest regions. Typically 90% of the fund's assets will be invested
in common stocks.
International Stock Fund (Marshall International Stock Fund)--This fund may
invest in stocks and securities of companies and governments outside the United
States.
Apertus Stock Fund--This fund may invest in shares of Apertus Technologies
Incorporated common stock.
Contributions received and not yet invested in a fund are invested in Temporary
Investments held by the Trustee.
7
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Notes to Financial Statements (continued)
4. Income Tax Status
The Plan has received a determination letter from the Internal Revenue Service
dated March 2, 1993 that the trust established for the plan is exempt from
federal income taxes by reason of Section 501 of the Internal Revenue Code
(IRC). Once qualified, the Plan is required to operate in conformity with the
IRC to maintain its qualification. The Pension Administrative Committee is not
aware of any course of action or series of events that have occurred that might
adversely affect the Plan's qualified status.
5. Related Party Transactions
All administration costs of the Plan except for the loan program are paid by the
Company. Brokers' commissions and fees, if any, incurred in connection with the
segregated funds are paid by the Plan.
6. Plan Termination
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of ERISA. In the event of Plan termination,
participants will become 100% vested in their accounts.
8
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Item 27a--Schedule of Assets Held for Investment Purposes
December 31, 1996
<TABLE>
<CAPTION>
Description of Investment,
Including Maturity Date,
Rate of Interest, Current Fair
Identity of Issue Par or Maturity Value Cost Value
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Apertus Technologies Incorporated* 62,446 shares of Common Stock $ 382,736 $ 140,504
Fidelity Advisors Equity Portfolio
Growth Fund 71,456 shares 2,299,069 3,001,865
Fidelity Advisors Income and Growth Fund 64,302 shares 954,628 1,053,269
Marshall International Stock Fund 88,284 shares 888,506 1,041,747
Piper Trust Collective Stable Asset Fund* 21,090 shares 275,905 310,087
Piper Trust Emerging Growth Fund* 204,305 shares 2,276,079 2,498,644
Piper Trust U.S. Government Money
Market Fund* 50,287 shares 50,287 50,287
Apertus Technologies Fixed Income Fund:
U.S. Treasury Note $10,000 face, 5.625%, due 10/31/97 9,997 10,006
U.S. Treasury Note $20,000 face, 6.750%, due 5/31/97 20,369 20,113
U.S. Treasury Note $25,000 face, 6.500%, due 5/15/97 25,078 25,117
U.S. Treasury Note $30,000 face, 6.375%, due 5/15/99 29,883 30,272
U.S. Treasury Note $30,000 face, 8.875%, due 2/15/99 31,959 31,744
U.S. Treasury Note $40,000 face, 5.125%, due 11/30/98 39,231 39,488
U.S. Treasury Note $45,000 face, 5.125%, due 2/28/98 44,387 44,719
U.S. Treasury Note $50,000 face, 6.000%, due 8/15/99 49,852 50,250
U.S. Treasury Note $70,000 face, 7.375%, due 11/15/97 69,956 71,050
U.S. Treasury Note $75,000 face, 5.000%, due 2/15/99 73,555 73,664
U.S. Treasury Note $75,000 face, 6.500%, due 8/15/97 74,883 75,492
U.S. Treasury Note $90,000 face, 6.125%, due 5/15/98 90,156 90,478
Participant loans 0 321,104
------------------------------------------
Total assets held for investment purposes $7,686,516 $8,979,900
==========================================
</TABLE>
* Indicates party-in-interest to the Plan.
9
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Item 27d--Schedule of Reportable Transactions
Year ended December 31, 1996
<TABLE>
<CAPTION>
Purchase Selling Cost of Current Net Gain
Identity of Party Involved Description of Transaction Price Price Asset Value (Loss)
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Category (i)--Individual transactions in excess of 5% of Plan assets
Fidelity Advisors Equity Purchased 10,122 shares $ 374,000 $ 374,000 $ 374,000
Portfolio Growth Fund
Category (iii)--Series of transactions in excess of 5% of Plan assets
Benchmark Diversified Fund Purchased 2,604,236 shares in
260 transactions 2,604,236 2,604,236 2,604,236
Sold 2,604,536 shares in
222 transactions $2,604,536 2,604,536 2,604,536 $ -
Fidelity Advisors Equity Purchased 20,345 shares in
Portfolio Growth Fund 26 transactions 792,076 792,076 792,076
Sold 9,139 shares in
12 transactions 369,697 284,647 369,697 85,050
Piper Trust Emerging Purchased 81,242 shares in
Growth Fund 26 transactions 1,174,600 1,174,600 1,174,600
Sold 10,601 shares in
6 transactions 139,422 116,107 139,422 23,315
</TABLE>
<PAGE>
Apertus Technologies Incorporated
Savings and Investment Plan
Item 27d--Schedule of Reportable Transactions (continued)
<TABLE>
<CAPTION>
Purchase Selling Cost of Current Net Gain
Identity of Party Involved Description of Transaction Price Price Asset Value (Loss)
- ----------------------------------------------------------------------------------------------------------------------------------
Category (iii) Series of transactions in excess of 5% of Plan assets (continued)
<S> <C> <C> <C> <C> <C> <C>
Piper U.S. Government Purchased 1,154,874 shares in
Money Market 196 transactions $1,154,874 $1,154,874 $1,154,874
Sold 1,104,587 shares in
141 transactions $1,104,587 1,104,587 1,104,587 $ -
Fidelity Advisors Purchased 14,371 shares in
Income & Growth Fund 23 transactions 234,717 234,717 234,717
Sold 15,784 shares in
13 transactions 245,339 232,453 245,339 12,886
There were no category (ii) or (iv) reportable transactions during 1996.
</TABLE>
11
<PAGE>
Exhibit 23
Consent of Independent Auditors
We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 2-91060) pertaining to the Apertus Technologies Incorporated Savings and
Investment Plan of our report dated May 19, 1997, with respect to the financial
statements and schedules of the Apertus Technologies Incorporated Savings and
Investment Plan included in this Annual Report (Form 11-K) for the year ended
December 31, 1996.
Minneapolis, Minnesota /s/ Ernst & Young LLP
June 27, 1997
