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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): DECEMBER 4, 1998
MAPICS, Inc.
(Exact name of registrant as specified in its charter)
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GEORGIA 000-18674 04-2711580
(State or other jurisdiction (Commission File Number) (IRS Employer Identification No.)
of incorporation)
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5775-D GLENRIDGE DRIVE
ATLANTA, GEORGIA 30328
(Address of Principal Executive Offices)
404-705-3000
(Registrant's telephone number, including area code)
Page 1 of 5
Index to Exhibits on Page 3
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Exhibits
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Exhibit No. Description
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99 Press Release of the Company dated December 4, 1998
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.
MAPICS, INC.
(Registrant)
Date: December 8, 1998 BY /s/ Martin D. Avallone
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Martin D. Avallone
Vice President, General Counsel
and Secretary
2
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INDEX TO EXHIBITS
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Exhibit Description Page No.
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99 Press Release of the Company dated December 4, 1998 4
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EXHIBIT 99
[LETTERHEAD OF MAPICS APPEARS HERE]
For Immediate Release
FINANCIAL CONTACT:
William J. Gilmour
Chief Financial Officer
MAPICS, Inc.
(404) 705-3283
[email protected]
MAPICS RESCINDS STOCK REPURCHASE
ATLANTA (Dec. 4, 1998)--MAPICS, Inc. (Nasdaq/NM:MAPX) today announced that its
Board of Directors has rescinded its outstanding authorization to repurchase the
Company's common stock. The plan was initially approved in December 1997 to
repurchase up to 1.8 million shares. To date, approximately 128,600 shares have
been repurchased. No shares have been repurchased since January 1998 due to
subsequent increases in the share price. MAPICS currently has 23.7 million
shares outstanding on a fully diluted basis.
Richard C. Cook, president and chief executive officer, remarked, "Our
shares are currently selling well above the price levels of a year ago when the
Board approved this plan. Although we have ample cash on hand to continue this
program, we believe that the action approved today is appropriate considering
the appreciation in our share price and the alternative uses for the Company's
funds."
MAPICS, Inc., headquartered in Atlanta, Georgia, is one of the world's
leading providers of Enterprise Resource Planning (ERP) application software for
manufacturers. Over 2,400 customers have selected MAPICS XA, its current product
line. Through affiliate relationships, the Company provides solutions to
customers in more than 70 countries. MAPICS, Inc. serves such customers as Bayer
Corp.; General Electric Co., P.L.C.; Goodyear Tire & Rubber Co.; Honda Motor
Co., Ltd.; IBM; Michelin Corp.; Volvo Corp.; Westinghouse Electric
Corp. and York International. For more information, visit MAPICS' home page on
the World Wide Web at www.mapics.com.
MAPICS is a trademark of MAPICS, Inc.
Other trademarks may be trademarks of their respective owners.
Note: The correct usage of the MAPICS name is all capitals.
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MAPICS Rescinds Stock Repurchase
Page 2
Dec. 4, 1998
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Statements in this press release or otherwise attributable to the Company
regarding the Company's business which are not historical fact, including those
regarding financial position and growth projections, and those statements
identified through the word "believe," are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Many factors could cause the Company's actual results to
differ materially from those expressed in the forward-looking statements made by
or on behalf of the Company including, without limitation, the size and timing
of license transactions, the effect of fluctuations in the economy, the impact
of competitive products and services, the availability of qualified resources,
the ability to develop and enhance products, the ability to achieve and manage
growth, and other risks detailed in the Company's Form 10-K for the year ended
September 30, 1997, and other filings with the SEC.
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