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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) August 11, 1997
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)
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0-15322 36-3144515
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(Commission File Number) (I.R.S. Employer
Identification No.)
500 West Madison
Chicago, Illinois 60661
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(Address of principal executive offices) (Zip Code)
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(312) 258-6000
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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
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On August 11, 1997, the Registrant issued a press release announcing its
revenues for the third fiscal quarter ended July 31, 1997. A copy of the press
release is attached as an exhibit.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
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99 Press Release dated August 11, 1997.
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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.
SYSTEM SOFTWARE ASSOCIATES, INC.
Date August 11, 1997 BY: /s/ Joseph J. Skadra
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Joseph J. Skadra, Chief Financial Officer
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[SSA - logo] System Software Associates, Inc. NEWS RELEASE
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Corporate Headquarters
500 West Madison . Chicago, Illinois, U.S.A. 60661 . Telephone (312) 258-6000 .
Facsimile: (312) 474-7500
Investor Relations Contact Corporate Contact
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] [email protected]
For Immediate Release
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SSA Announces Best Ever Third Quarter Revenue
License Fee Revenue Growth of 84%
Chicago, IL, August 11, 1997 - System Software Associates, Inc. (NASDAQ: SSAX)
announced today that revenues for its fiscal third quarter ended July 31, 1997,
were a record $114.7 million, an increase of 58.6 percent when compared to $72.3
million recorded in the same period of the prior year. Software license fee
revenues in Q3 1997 were $83.2 million, an increase of 84.1% when compared to
$45.2 million recorded in Q3 1996. Client services revenues grew 16.2 percent to
$31.5 million in the quarter just ended, as compared to $27.1 million in Q3
1996.
Software license fee revenues grew 47% during the first nine months of 1997 to
$213.4 million versus $145.2 million recorded during the same period of 1996.
Client services revenues for the first nine months of 1997 were $91.6 million as
compared to $86.2 million in the first nine months of 1996, an increase of 6.3%.
Total revenues for the first nine months of 1997 were $305.0 million as compared
to $231.4 million in the first nine months of 1996, an increase of 31.8%.
Joseph J. Skadra, Vice President and CFO said that: "The company ended its
fiscal third quarter with cash balances in excess of $31 million due to
experiencing positive cash flow of more than $11 million." Mr. Skadra
emphasized, however, that the release was intended only to disclose revenue
results and that no conclusions concerning any other income statement or balance
sheet item should be drawn until the firm's formal announcement of third quarter
earnings. The company expects to release its full Q3 1997 earnings report on
its usual schedule, during the week of August 18, 1997.
About SSA
The industry leader in delivering Business Value Through Object Technology, SSA
provides the most robust application functionality available for industrial
sector enterprise-wide information systems. The BPCS Client/Server solution
delivers unparalleled agility and re-configurability to meet changing market
demands through a quantum leap forward in ERP technology that delivers
significant business benefits, including century dating. The BPCS Client/Server
product suite delivers competitive advantage by integrating all mission critical
operations from global financials to multi-mode manufacturing to
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management of the total supply chain, including Electronic Commerce and EDI.
SSA's Distributed Object Computing Architecture (DOCA) provides the computing
platform choice, whether IBM AS/400 or RS/6000, Digital, Hewlett-Packard, a
combination of these or server access via the Internet. Database options include
Oracle, Informix and DB2/400. Over 8,000 multi-national customers in various
vertical markets - automotive, chemical, consumer goods, electronics,
fabrication and assembly, food/beverage, forest products, pharmaceutical - have
implemented an SSA ERP system. SSA and its strategic partners provide full
implementation support for BPCS Client/Server in over 70 countries worldwide.
Visit SSA's homepage at http://www.ssax.com.
Safe Harbor
The statements contained in this release regarding SSA's future operating
results and performance and business prospects are "forward-looking statements"
subject to the safe harbor created by the Private Securities Litigation Reform
Act of 1995. Where possible, the words "expect," "outlook" and similar
expressions, as they relate to SSA or its management, have been used to identify
such forward-looking statements. These statements reflect SSA's current beliefs
and specific assumptions with respect to future business decisions and are based
on information currently available to SSA. Accordingly, the statements are
subject to significant risks, uncertainties and contingencies which could cause
SSA's actual operating results, performance or business prospects to differ from
those expressed in, or implied by, these statements.
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