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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 l934
Date of Report (Date of earliest event reported) November 28, 1995
SYSTEM SOFTWARE ASSOCIATES, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-15322 36-3144515
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(Commission File Number) (I.R.S. Employer
Identification No.)
500 West Madison Street
Chicago, Illinois 60661
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(Address of principal executive offices) (Zip Code)
(312) 641-2900
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
The Registrant issued a press release on November 28, 1995, a copy of
which is attached hereto as Exhibit A.
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.
SYSTEM SOFTWARE ASSOCIATES, INC.
Date January 16, 1996 BY: s/s Joseph J. Skadra
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Joseph J. Skadra, Vice President
and Chief Financial Officer
(Signature)
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EXHIBIT A
Investor Relations Contact Corporate Contact
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Joseph J. Skadra Roger E. Covey
Chief Financial Officer CEO and Chairman
(312) 258-6000 (312) 258-6000
Facsimile: (312) 474-7500 Facsimile: (312) 474-7500
[email protected]
FOR IMMEDIATE RELEASE
SSA ANNOUNCES BEST EVER RESULTS: EARNINGS UP 173% FOR THE FOURTH QUARTER
Chicago, IL -- System Software Associates, Inc. (NASDAQ: SSAX) announced today
record earnings and revenues for the fiscal fourth quarter and year ended
October 31, 1995. For the quarter earnings increased to a best ever $16.9
million, up 173% from the same period in the prior year. Earnings per share
(on a pre-split basis) increased to a best ever $.59, up 157% from the $.23 per
share in the fourth quarter of fiscal 1994. For the year as a whole earnings
were $34.1 million, up 121% from the prior year. Revenues for the fiscal fourth
quarter increased to a best ever level of $127.7 million, up from $109.8
million in the same period of the prior year. For the fiscal year as a whole,
revenues increased to a record $394.4 million, up from $334.4 million in the
prior year while earnings per share (on a pre-split basis) more than doubled
from $.57 to $1.21.
Roger E. Covey, CEO of SSA said: "These superb results are a direct consequence
of SSA's technology leadership in the global ERP marketplace. More and more
major industrial sector firms are beginning to realize the value and power of
distributed object computing for enterprise-wide client/server systems."
During the fourth quarter SSA was selected as the partner for information
systems by a host of major industrial sector corporations. Examples of SSA wins
during the fourth quarter alone included Ciba Geigy, Michelin, Hewlett-Packard,
Eaton, Reckitt & Colman, Packard Bell, Landis & Gyr, Standard Products,
Pluess-Staufer, ITT Automotive, Revlon, Bristol-Myers Squibb, Texaco, Hoffman
La Roche, Johnson & Johnson, Fiat, GKN, the Perrier division of Nestle, the
Clariant division of Sandoz, Bausch & Lomb, and many others. In most of these
situations SSA was chosen in head-to-head competition with its primary
competitor. For example, Hewlett-Packard selected SSA for HP's global Support
Materials Organization.
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SSA ANNOUNCES BEST EVER RESULTS: EARNINGS UP 173% FOR THE FOURTH QUARTER
(in millions, except per share data)
<TABLE>
<CAPTION>
Quarter Ended Year Ended
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October 31, October 31, Percent October 31, October 31, Percent
1995 1994 Change 1995 1994 Change
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<S> <C> <C> <C> <C> <C> <C>
Total Revenues $127.7 $109.8 16% $394.4 $334.4 18%
License Fees $96.6 $81.8 18% $270.0 $239.5 13%
Client Services & $31.1 $28.0 11% $124.4 $94.9 31%
Other
Income Before $25.7 $10.2 152% $52.4 $23.8 120%
Income Taxes and
Minority Interest
Net Income $16.9 $6.2 173% $34.1 $15.4 121%
Earnings per Share
pre-split $.59 $.23 157% $1.21 $.57 112%
Earnings per Share
post-split $.39 $.15 160% $.81 $.38 113%
</TABLE>
SSA also announced today that it is splitting its stock three for two. The
effective date of the split is Wednesday, December 27, 1995.
SSA further announced the declaration of its annual dividend to all
stockholders of record as of Thursday, December 28, 1995, payable as of
Wednesday, January 10, 1996. The annual dividend is, post split, $.10 per share.
This represents a 25% increase in the annual dividend.
SSA is the leading provider of cost-effective business enterprise information
systems to the industrial sector worldwide. SSA's product line BPCS
Client/Server provides business process re-engineering and integration of all
operations, including multi-mode manufacturing processes, configurable supply
chain management, and global financial solutions. The distributed object
computing architecture of BPCS Client/Server provides the benefits of next
generation technology in conformance with industry standards. SSA and its
business partners provide full implementation support for BPCS Client/Server in
over 70 countries worldwide.
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