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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): February 10, 1999
MAPICS, Inc.
(Exact name of registrant as specified in its charter)
Georgia 000-18674 04-2711580
(State or other (Commission File (IRS Employer
jurisdiction Number) Identification No.)
of incorporation)
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 4
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 dated February 10, 1999
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: February 12, 1999 By /s/ Martin D. Avallone
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Martin D. Avallone
Vice President, General Counsel and
Secretary
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INDEX TO EXHIBITS
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Exhibit Description Page No.
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99 Press Release dated February 10, 1999 4
3
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[LETTERHEAD OF MAPICS, INC. APPEARS HERE]
Financial Contact:
William J. Gilmour
Chief Financial Officer
MAPICS, Inc.
(404) 705-3283
[email protected]
MAPICS DIRECTORS APPROVE SHARE REPURCHASE PLAN
ATLANTA (Feb. 10, 1999) - MAPICS, Inc. (Nasdaq/NM:MAPX) today announced that its
Board of Directors has authorized a plan to repurchase up to 1.8 million shares
of the Company's common stock. The transactions may be made from time to time
in the open market at prevailing market prices that the Company deems
appropriate. MAPICS has approximately 23.5 million shares outstanding on a
fully diluted basis.
"Given the strong operating results for our first quarter and the
excellent fundamentals of our business, we believe that the purchase of shares
affords MAPICS a highly attractive investment opportunity," said Richard C.
Cook, president and chief executive officer. "We are pleased that MAPICS'
strong financial position, that includes approximately $30 million in cash,
allows us to consider the repurchase of our shares. Although any transactions
will depend on market conditions, we believe we can effectively execute against
this authorization while maintaining our corporate goal of continuing to enhance
our software solutions through product development, joint ventures and strategic
acquisitions."
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.
Statements in this press release or otherwise attributable to the Company
regarding the Company's business which are not historical fact, including those
regarding growth in its business, are forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Words such as "believe", "continuing", and "affords" are intended to
identify such forward-looking statements. 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 impact of Year 2000 problem on demand, the availability of qualified
resource, the ability to develop and enhance products, and other risks detailed
in the Company's Annual Report on Form 10-K and other filings with the SEC.
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