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[LETTERHEAD of ANALYSTS INTERNATIONAL]
ANALYSTS INTERNATIONAL ANNOUNCES REGULAR QUARTERLY DIVIDEND,
TAKES OTHER ACTIONS TO STRENGTHEN COMPANY
MINNEAPOLIS - Dec. 19, 2000 - Analysts International (Nasdaq: ANLY) announced
today that its Board of Directors declared a regular quarterly dividend of 6
cents per share. "This action by the Board adjusts the dividend to reflect the
company's current financial results," said Frederick W. Lang, chairman and chief
executive officer of Analysts International. The dividend is payable Feb. 15,
2001, to shareholders of record on Jan. 31, 2001. The company has 22,606,826
shares of common stock outstanding.
In other actions, the board approved the following items:
- Analysts will acquire the remaining 19.9 percent interest in Sequoia
NET.com with a combination of stock and cash valued at approximately
$10 million. The acquisition will be accretive to earnings in calendar
year 2001 and enable Sequoia's network infrastructure business to be
incorporated into Analysts' growing e-business offerings, which are
central to the company's strategic reorganization. The company expects
to close the transaction by the end of the current quarter. Analysts
acquired 80.1 percent of Sequoia in April 2000.
- Analysts will change its fiscal year-end from June 30 to Dec. 31. After
a six-month transition period ending Dec. 31, 2000, the company's next
fiscal year will start Jan. 1, 2001. Since most companies in the
industry operate with a calendar year-end, this change will simplify
financial comparisons of Analysts International with its peers and
provide for a clearer picture of the organization's progress following
restructuring charges planned for the current quarter.
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"These actions, together with our restructuring program, will help us bring
increased value to all our shareholders in the future," Lang said.
ABOUT ANALYSTS INTERNATIONAL
Headquartered in Minneapolis, Analysts International Corporation is a
long-standing, diversified IT consulting services company serving more than
1,000 corporate and governmental clients. The company has sales and customer
service offices throughout the United States, Canada, and the United Kingdom and
provides services and expertise in eBusiness Solutions, Staffing and Managed
Services. For more information, visit the company Web site at
HTTP://WWW.ANALYSTS.COM. Analysts International stock is traded on Nasdaq.
Statements contained herein, which are not historical facts, are forward-looking
statements. Any forward-looking statements in this release are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Actual results may vary materially from those projected as a result of
certain risks and uncertainties. Refer to discussions of certain of these risks
and uncertainties in the company's Annual Reports, 10-Ks, 10-Qs and other
Securities and Exchange Commission filings.
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