UNITED STATES
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): 31 October 1996
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)
4460 South Highland Drive #100
Salt Lake City, Utah 84124-3543
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 273-6600
Former name or former address, if changed since last report: Not applicable
Item 5. Other Events --- Press Release - ALPNET Announces Third Quarter 1996
Results
31 October 1996 -- Salt Lake City, Utah. ALPNET, Inc. (NASDAQ: AILP), the
largest dedicated commercial provider of language translation, product
localization, and language-related services to international businesses, today
announced results for the quarter and nine months ended 30 September 1996.
Total revenues for the quarter were $7.5 million with net income of $22,000 or
$.001 per share compared to revenues of $7.4 million with net income of $348,000
($.015 per share) for the third quarter of 1995. For the nine months ended 30
September 1996, total revenues were $23.1 million with net income of $714,000 or
$.028 per share compared to revenues of $19.8 million with net income of
$368,000 or $.016 per share for the nine months ended 30 September 1995.
In announcing the results, Thomas F. Seal, ALPNET President and Chief Executive
Officer, stated, "On a quarter to quarter basis, a large portion of our revenue
is dependent upon the timing of product releases by our major clients. This
leads to a cycle of peaks and valleys in ALPNET's revenues which we have seen
for many years. While reported revenue is down from the second quarter of 1996,
it is up compared to the third quarter of 1995, which was a record peak at the
time. This demonstrates that the overall revenue trend is growing, and ALPNET is
well positioned to take advantage of this growth. Further, revenues and
profitability for the nine months ended 30 September 1996 are at record highs."
Mr. Seal continued by stating, "ALPNET has been heavily investing in expanding
our capability to produce an increasing amount of translation and related work.
We believe our major clients want to see a capability to meet their needs today,
and in the future. To accomplish this, we have opened new offices to serve
existing and new clients, and have significantly expanded our offices in
Singapore, Korea, Japan, Salt Lake City, and Montreal to meet the projected
revenue growth. In the fourth quarter, we will expand our Amsterdam office, and
will open a new Multi-Lingual Production Center in Europe, which will allow us
to continue to meet our clients' growing needs."
Mr. Seal concluded by saying, "Consistent with the peaks and valleys of our
client's product release cycles, we have seen an increase in the order backlog
for the fourth quarter. We have a healthy order book for the fourth quarter
which management believes will allow future revenues and results to be improved
over this quarter. In addition, quotes and initial planning discussions with
clients for early 1997 seem to indicate that the overall growth trend will
continue, and ALPNET's investment in increasing our capability will position us
well for 1997 and beyond."
ALPNET is the largest publicly-owned dedicated supplier of worldwide translation
and product localization services, with 33 wholly-owned offices in 15 countries
throughout Europe, North America, and Asia. ALPNET supplies its clients with
language translation, product localization, language interpreting, language
training, and multilingual desktop publishing and printing services. Additional
information about ALPNET is available on the World Wide Web at
http://www.alpnet.com.
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: 31 October 1996 \s\ Thomas F. Seal
Thomas F. Seal
President and Chief Executive Officer
Date: 31 October 1996 \s\ D. Kerry Stubbs
D. Kerry Stubbs
Chief Financial Officer
