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): 10 November 1994
ALPNET, INC.
(Exact name of registrant as specified in its charter)
UTAH 0-15512 87-0356708
(State or other (Commission file (IRS Employer
jurisdiction of number) Identification
incorporation) Number)
4444 South 700 East
Suite #204
Salt Lake City, Utah 84107-3075
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 265-3300
Former name or former address, if changed since last report: Not
applicable.
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Item 5. Press Release -- ALPNET ANNOUNCES THIRD QUARTER 1994
RESULTS
November 10, 1994, Salt Lake City, Utah - ALPNET Inc. (NASDAQ:
AILP), a worldwide supplier of language translation and related
services, today announced results for the quarter ended September
30, 1994. Total revenues for the quarter were $5.4 million with a
net profit of $25,000 or $.001 per share compared to revenues of
$4.9 million with a net profit of $119,000 or $.008 per share for
the quarter ended September 30, 1993. For the nine months ended
September 30, 1994, total revenues were $14.6 million with a net
loss of $646,000 or $.036 per share compared to revenues of $14.5
million with a net profit of $330,000 or $.023 per share for the
same period in 1993.
Thomas F. Seal, ALPNET President & Chief Executive Officer, stated,
"We are pleased to report a return to profitability for the
quarter, and continued growth of worldwide translation revenues.
We have increased the overall volume of words being translated for
our customers. However, our results are still heavily affected by
the reduced margins caused by heavy price competition in the
industry. Due to this price pressure, we are translating as much as
15% more words in order to achieve the same revenues, but at lower
margins. To mitigate this, we are utilizing our proprietary TSS
technology to improve the translation process and help control our
direct costs."
Mr. Seal continued by saying, "We have seen increased orders from
existing clients in the UK and Canada, as well as new clients
identified through our targeted direct sales campaign in these
countries. In addition, we have seen a dramatic increase in demand
for Asian languages. Our new office in Korea has come up to speed
rapidly, and together with our offices in Hong Kong and Singapore,
ALPNET-Asia is now providing more than 8% of our worldwide
revenues. We see this trend continuing, and feel our presence in
Asia is a significant competitive advantage that will allow ALPNET
to continue its trend of increased revenues and improved
profitability."
ALPNET is a worldwide supplier of translation services, with 25
offices in 10 countries, on 3 continents. ALPNET supplies its
customers with language translation, product localization, language
interpreting, language training, and multi-lingual desktop
publishing and printing services.
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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.
ALPNET, INC.
(Registrant)
Date: 11/22/94 \s\ D. Kerry Stubbs
D. Kerry Stubbs
Vice President Finance and Chief
Financial Officer
Date: 11/22/94 \s\ Thomas F. Seal
Thomas F. Seal
President and Chief Executive Officer
