SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
October 16, 1997
Computervision Corporation
(Exact name of registrant as specified in charter)
Delaware 1-7760/0-20290 04-2491912
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(State or other (Commission IRS Employer
jurisdiction File Numbers) Identification
of incorporation) Number)
100 Crosby Drive, Bedford, MA 01730
(Address of principal executive offices)
(617) 275-1800
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
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Item 5. Other Events
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On October 16, 1997, Computervision Corporation issued a
press release announcing a credit arrangement with Foothill
Capital Corporation and preliminary third quarter revenues (see
copy of press release attached).
<PAGE>
Item 7. Financial Statements and Exhibits
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(a) Financial Statements of business acquired:
Not applicable
(b) Pro Forma financial information
Not applicable
(c) Exhibits:
(99) (a) Press Release dated October 16, 1997
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities and Exchange
Act of 1934,the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
Computervision Corporation
(Registrant)
By /S/ Anthony N. Fiore, Jr.
Anthony N. Fiore, Jr.
Vice President, Business
Operations and General Counsel
Date: October 21, 1997
<PAGE>
EXHIBIT INDEX
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Exhibit No. Page. No.
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(99) (a) Press Release dated October 16, 1997 6-7
<PAGE>
FOR IMMEDIATE RELEASE
For Further Information:
Gene Bullis
Computervision Corporation
(781) 275-1800, ext. 6241
[email protected]
FOR IMMEDIATE RELEASE
Computervision Announces Credit Arrangement and
Preliminary Third Quarter Revenues
BEDFORD, Mass., October 16, 1997 -- Computervision Corporation
(NYSE:CVN) today announced that it has closed a $14.5 million
bridge credit facility with Foothill Capital Corporation, a
subsidiary of Norwest Corporation. A portion of the credit
facility was used to repay an existing $8.5 million bridge loan
from M.D. Sass Corporate Resurgence Partners, L.P. The facility is
secured by Computervision's assets and matures in 30 days.
The Company reported that this bridge facility is part of a $47.5
million credit facility currently being discussed by Foothill and
the Company. While Foothill has not made a firm commitment for
the full credit facility, and the facility is subject to
Foothill's credit committee approval and to execution of a
definitive credit agreement, the Company believes that the
conditions to consummation of the credit facility can be satisfied
and that the credit line will be obtained.
Computervision also announced that it estimated software revenue
of $42.2 million for the third quarter ended September 30, 1997,
compared to software revenue of $81.8 million for the third
quarter of 1996 and software revenue of $51.6 million for the
second quarter of 1997. The full operating results for the
quarter will be announced on October 23, 1997.
Computervision Corporation Background
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Computervision Corporation is the leading international supplier
of Electronic Product Definition(TM) (EPD(TM)) solutions. EPD is
Computervision's product and process response to the customer need
to concurrently create, manage, share and reuse electronic product
information in a collaborative environment throughout a product's
life cycle and across a distributed value chain. Computervision is
headquartered in Bedford, Massachusetts.
Except for the historical information contained herein, matters
discussed in this news release may constitute forward-looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those projected. These
include the time period required to finalize the credit facility
as well as risks and uncertainties that are detailed from time to
time in reports filed by Computervision with the Securities and
Exchange Commission, including the Company's most recent reports
on Form 10-K and 10-Q.
Computervision and the Computervision logo are registered
trademarks of Computervision Corporation. Electronic Product
Definition and EPD are trademarks of Computervision Corporation.
All other trademarks are trademarks of their respective owners.
A copy of this release plus financial, product and other company
information is available by dialing 1-800-546-4616. Any questions
concerning the service should be directed to Investor Relations at
Computervision Corporation at 781/275-1800. For more on
Computervision, please call (781) 275-1800 or visit the
Computervision web site at http://www.cv.com.
