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): 30 July 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:
4444 South 700 East #204
Salt Lake City, Utah 84107-3075
Item 5. Other Events --- Press Release - ALPNET Announces Record Second Quarter
Results
30 July 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 record
results for the quarter ended 30 June 1996. Total revenues for the quarter were
$9.0 million with net income of $662,000 or $.026 per share compared to revenues
of $6.5 million with net income of $6,000 (less than $.001 per share) for the
second quarter of 1995. For the six months ended 30 June 1996, total revenues
were $15.5 million with net income of $692,000 or $.027 per share compared to
revenues of $12.4 million with net income of $20,000 or $.001 per share for the
six months ended 30 June 1995.
Thomas F. Seal, ALPNET President and CEO, stated, "The reported quarterly
revenues of $9 million represent an increase of 38% over the second quarter of
1995. While a portion of the increase in revenues was due to large projects
from existing clients, it also included some new client revenues as well as
significant contributions from some of our new offices. We are pleased to
report that our Amsterdam office, which is dedicated to serving the computer
software localization industry, has completed its first sizable project and is
now expanding its client base in order to increase its contribution to results
in the future. In addition, our Dublin office has succeeded in closing its
first significant orders, and we are looking forward to increased Irish revenues
in 1996 and 1997.
Mr. Seal continued by stating, The investment ALPNET has made in additional
worldwide offices and capabilities is paying off, as we are able to sell and
produce sizable multi-language projects without disrupting existing clients and
production processes. The additional offices added in recent years have
provided a worldwide infrastructure and production capacity that allows us to
produce very large projects into up to twenty different languages, in multiple
locations. These projects can involve any combination of the localization of
software, online or printed documentation, or the localization of multi-media
information which is becoming increasingly important for many new clients."
Mr. Seal reported that, These quarterly results represent a 7% return on
revenues, and still reflect significant investment in startup costs in Asia,
startup costs for our online translation business, and certain costs to
reorganize some under-performing offices. As revenues continue to grow we are
able to more fully utilize our worldwide capacity, thereby bringing a greater
portion of the additional revenue to the bottom line. We believe our program of
balanced investment in growth for the future will continue to pay off as we
continue to grow. We expect revenue levels to be strong for the rest of the
year as multi-national corporations learn about and use ALPNET for their product
related translation and localization needs.
Mr. Seal finished by saying, Due to the nature of our major clients and their
product release cycles, we have seen a pattern where quarterly revenues can
fluctuate significantly. We expect this pattern to continue in 1996, but are
confident that overall revenues and earnings will exceed 1995 levels, as we are
in negotiation for several significant contracts which will give us a very
strong backlog for the second half of the year."
ALPNET is the largest publicly-owned dedicated supplier of worldwide translation
and product localization services, with 30 wholly-owned offices in 14 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: 30 July 1996 \s\ Thomas F. Seal
Thomas F. Seal
President and Chief Executive Officer
Date: 30 July 1996 \s\ D. Kerry Stubbs
D. Kerry Stubbs
Chief Financial Officer
