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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Filed pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 7, 1998
SYSTEMS & COMPUTER TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-11521 23-10701520
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation or file number) Identification
Organization) Number)
Four Country View Road
Malvern, PA 19355
(Address of principal executive offices)
(610) 647-5930
(Registrant's telephone number, including area code)
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Item 5. Other Events.
On October 7, 1998, the Board of Directors of Systems & Computer
Technology Corporation authorized a purchase of up to 3,000,000 of its common
shares. The shares may be purchased from time to time in the open market or in
negotiated transactions. Also on October 7, 1998, Systems & Computer Technology
Corporation issued a press release announcing the stock repurchase. A copy of
said press release is attached hereto as Exhibit 99.1 and is incorporated herein
by this reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
99.1 Press release dated October 7, 1998 titled "SCT Announces
Stock Buy-Back".
SIGNATURE
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.
SYSTEMS & COMPUTER TECHNOLOGY CORPORATION
Date: October 16, 1998 By: /s/ Richard A. Blumenthal
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Title: Senior Vice President,
General Counsel and Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press release dated October 7, 1998 titled "SCT Announces Stock
Buy-Back".
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IMMEDIATE
Eric Haskell
Sr. Vice President and Chief Financial Officer
SCT Corporation
610-578-5175
[email protected]
http://www.sctcorp.com
SCT Announces Stock Buy-Back
MALVERN, Pa., October 7, 1998-Systems & Computer Technology Corp. (SCT) (Nasdaq:
SCTC) today announced that its Board of Directors has authorized a purchase of
up to 3,000,000 of its common shares. The shares may be purchased from time to
time in the open market or negotiated transactions. The timing of purchases will
be based on a variety of factors, including stock price, cash requirements and
other market and economic factors. "We believe that at current prices SCT's
stock affords an investment opportunity in our own business," said Michael J.
Emmi, Chairman and CEO.
The matters discussed in this press release that are forward-looking statements
are based on current management expectations that involve risks and
uncertainties. Potential risks and uncertainties include without limitation the
Company's ability to attract and retain highly skilled technical, managerial,
sales, and marketing personnel; continued market acceptance of the Company's
products and services; the extent to which demand for the Company's products and
services diminish over time as organizations resolve the year 2000 problem;
increased expenses which may be incurred by the Company relating to Year 2000
compliance issues; the Company's ability to complete fixed price contracts
profitably; the timing of the receipt of software licenses; the timing of
services contracts and renewals; general economic conditions; continued
competitive and pricing pressures in the marketplace; the Company's ability to
develop and market new products and enhancements cost-effectively and on a
timely basis; and the risks detailed in the Company's filings with the
Securities and Exchange Commission.
SCT, headquartered in Malvern, Pa., is a leading provider of client/server,
mission-critical, enterprise software and a series of information technology
services for higher education, government, manufacturing & distribution, and
utilities. The company provides long-term information and technology solutions
and is a recognized leader in outsourcing. SCT has more than 3,400 employees and
serves approximately 2,500 clients worldwide. For more information, visit the
SCT Web site at http://www.sctcorp.com.
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