<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1999
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____________ to ___________
Commission file number 333-43947
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
Symix Systems, Inc. 401(k) Plan
B. Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office:
Symix Systems, Inc.
2800 Corporate Exchange Drive
Suite 400
Columbus, Ohio 43231
Exhibit Index on Page 4.
Page 1 of 16 Pages.
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REQUIRED INFORMATION
The following financial statements and supplemental schedules
for the Symix Systems, Inc. 401(k) Plan are being filed herewith:
<TABLE>
<CAPTION>
Description Page No.
----------- --------
<S> <C>
Table of Contents to Financial Statements Page 6.
AUDITED FINANCIAL STATEMENTS:
Report of Independent Auditors Page 7.
Statements of Net Assets Available for Page 8.
Benefits at December 31, 1999 and 1998
Statements of Changes in Net Assets Available Page 9.
for Benefits for the Year Ended
December 31, 1999
Notes to Financial Statements
Pages 10
through 13.
SUPPLEMENTAL SCHEDULES:
Line 27a - Schedule of Assets Held for Investment Page 15.
Purposes as of December 31, 1999
</TABLE>
The following exhibit is being filed herewith:
<TABLE>
<CAPTION>
Exhibit No. Description Page No.
----------- ----------- ---------
<S> <C> <C>
23 Consent of Independent Auditors Page 16.
</TABLE>
Page 2 of 16 Pages.
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SIGNATURES
----------
THE PLAN. Pursuant to the requirements of the Securities
Exchange Act of 1934, the trustee has duly caused this annual report to be
signed on its behalf by the undersigned hereunto duly authorized.
SYMIX SYSTEMS, INC. 401(K) PLAN
Date: June 27, 2000 By:
-----------------------------------
Lawrence W. DeLeon, Plan Trustee
Page 3 of 16 Pages.
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SYMIX SYSTEMS, INC. 401(K) PLAN
ANNUAL REPORT ON FORM 11-K
FOR FISCAL YEAR ENDED DECEMBER 31, 1999
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Exhibit No. Description Page No.
----------- ----------- --------
<S> <C> <C>
23 Consent of Independent Auditors Page 16.
</TABLE>
Page 4 of 16 Pages.
<PAGE>
AUDITED FINANCIAL STATEMENTS AND SCHEDULE
SYMIX 401(k) PROFIT SHARING PLAN
DECEMBER 31, 1999 AND 1998 AND YEAR ENDED DECEMBER 31, 1999
WITH REPORT OF INDEPENDENT AUDITORS
Page 5 of 16 Pages.
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SYMIX 401(k) PROFIT SHARING PLAN
AUDITED FINANCIAL STATEMENTS AND SCHEDULE
December 31, 1999 and 1998 and year ended December 31, 1999
TABLE OF CONTENTS
<TABLE>
<S> <C>
Report of Independent Auditors ................................................1
Financial Statements
Statements of Net Assets Available for Benefits................................2
Statement of Changes in Net Assets Available for Benefits......................3
Notes to Financial Statements .................................................4
Schedule
Schedule of Assets Held for Investment Purposes................................9
</TABLE>
Page 6 of 16 Pages.
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REPORT OF INDEPENDENT AUDITORS
Board of Trustees
Symix 401(k) Profit Sharing Plan
We have audited the accompanying statements of net assets available for
benefits of the Symix 401(k) Profit Sharing Plan as of December 31, 1999 and
1998, and the related statements of changes in net assets available for
benefits for the year ended December 31, 1999. These financial statements are
the responsibility of the Plan's management. Our responsibility is to express
an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally
accepted in the United States. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on
a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan at
December 31, 1999 and 1998, and the changes in its net assets available for
benefits for the year ended December 31, 1999, in conformity with accounting
principles generally accepted in the United States.
Our audits were performed for the purpose of forming an opinion on the
financial statements taken as a whole. The accompanying supplemental schedule
of assets held for investment purposes as of December 31, 1999, is presented
for purposes of additional analysis and is not a required part of the
financial statements but is supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. This supplemental
schedule is the responsibility of the Plan's management. The supplemental
schedule has been subjected to the auditing procedures applied in our audits
of the financial statements and, in our opinion, is fairly stated in all
material respects in relation to the financial statements taken as a whole.
Columbus, Ohio
May 18, 2000
Page 7 of 16 Pages.
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SYMIX 401(k) PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
<TABLE>
<CAPTION>
DECEMBER 31
1999 1998
------------------------------
<S> <C> <C>
ASSETS
Cash $ 1,138 $ -
Investments, at fair value:
Symix Systems, Inc. common stock 2,657,620 2,359,372
Common/Collective Trust funds 1,528,879 628,327
Mutual funds 14,692,379 8,408,243
Participant loans 286,549 179,549
Pending settlement funds 26,418 -
------------------------------
Total investments 19,191,845 11,575,491
------------------------------
Receivables:
Contribution from Symix Systems, Inc. 24,879 18,609
Contributions from employees 79,858 55,826
------------------------------
Total receivables 104,737 74,435
------------------------------
Net assets available for benefits $ 19,297,720 $ 11,649,926
==============================
</TABLE>
SEE ACCOMPANYING NOTES.
2
Page 8 of 16 Pages.
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SYMIX 401(k) PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year ended December 31, 1999
<TABLE>
<S> <C>
ADDITIONS
Employee contributions $ 2,524,044
Employer contributions 744,846
Rollover contributions 187,030
Investment income, net 709,661
Transfer from DAI plan 3,162,201
--------------------
7,327,782
DEDUCTIONS
Benefit payments 1,264,659
Other 46,774
--------------------
1,311,433
Net unrealized/realized appreciation
in fair value of investments 1,631,445
--------------------
Net increases 7,647,794
Net assets available for benefits at beginning of year 11,649,926
--------------------
Net assets available for benefits at end of year $ 19,297,720
====================
</TABLE>
SEE ACCOMPANYING NOTES.
3
Page 9 of 16 Pages.
<PAGE>
SYMIX 401(k) PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
December 31, 1999
1. DESCRIPTION OF THE PLAN
The following description of the Symix Systems, Inc. 401(k) Profit Sharing Plan
(the Plan) provides only general information. Participants should refer to the
Summary Plan Description for a complete description of the Plan's provisions.
GENERAL
The Plan is a defined contribution plan covering substantially all employees
immediately upon hire, who have attained age 21. The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
On June 10, 1999 Symix Systems, Inc. (the Company) acquired Distribution
Architects International, Inc. ("DAI"). Pursuant to the acquisition agreement,
DAI was merged with and into a wholly-owned subsidiary of the Company. During
September, 1999, the net assets of the DAI 401(k) plan were transferred into the
Plan. Such assets totaled $3,162,201 at the time of the transfer.
CONTRIBUTIONS
Each year, participants may contribute the lesser of 18% of their annual
compensation, as defined in the Plan, or the maximum permitted by the
Internal Revenue Code. The Company contributes an amount equal to 50% of a
participant's elective deferred contribution, on the first 5% of a
participant's compensation.
Upon enrollment, a participant may direct employee contributions in any of the
Plan's investment options, including the Company's stock.
The employer match contribution is allocated according to participant elected
investment options.
PARTICIPANTS ACCOUNTS
Each participant's account is credited with the participant's contributions
and allocations of (a) the Company's contributions and (b) Plan earnings.
Earnings of the Plan are allocated to individual participant's accounts based
on the ratio of the participant's account balance in the appropriate fund as
of the preceding valuation date to the total fund balance as of the preceding
valuation date.
4
Page 10 of 16 Pages.
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SYMIX 401(k) PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
1. DESCRIPTION OF THE PLAN (CONTINUED)
PARTICIPANTS ACCOUNTS (CONTINUED)
Upon termination of employment, a participant's nonvested portion of Company
contributions and related earnings are forfeited. These amounts are used to
reduce future Company contributions. The benefit to which a participant is
entitled is the benefit that can be provided from the participant's account.
VESTING
Amounts contributed by participants and earnings thereon become immediately
vested. Vesting of the employer's contribution and related earnings becomes 100%
vested after five years of continuous service (20% per year of service with the
Company).
PARTICIPANT LOANS
Under the Plan, employees may borrow from their fund accounts up to the
lessor of $50,000 or 50% of their vested account balance. Loan terms range
from 1-5 years or up to 15 years for the purchase of a primary residence. The
loans are secured by the balance in the participant's account and bear
interest at prime plus one percent. Principal and interest is paid ratably
through monthly payroll deductions.
PAYMENT OF BENEFITS
On termination of service, a participant may receive a lump-sum amount equal to
the vested value of his or her account, or upon death, disability or retirement,
elect to receive annual installments.
PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of the Employee Retirement Income Security Act of
1974 (ERISA). In the event of plan termination, participants will become 100%
vested in their accounts.
5
Page 11 of 16 Pages.
<PAGE>
SYMIX 401(k) PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
2. SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The financial statements of the Plan are prepared on the accrual basis of
accounting.
INVESTMENTS
Plan investments are stated at fair value. The shares of registered investment
companies are valued at quoted market prices which represent the net asset
values of shares held by the Plan at year-end. The participant loans are valued
at their outstanding balances, which approximate fair value.
Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principals requires management to make estimates that affect the
amounts reported in the financial statements and accompanying notes.
Actual results could differ from those estimates.
ADMINISTRATIVE CHARGES
All costs and expenses of administering the Plan are borne by the Company.
3. INCOME TAX STATUS
The Plan has received a determination letter from the Internal Revenue Service
dated October 30, 1996, stating that the Plan is qualified under Section 401(a)
of the Internal Revenue Code (the Code) and, therefore, the related trust is
exempt from taxation. Once qualified, the Plan is required to operate in
conformity with the Code to maintain its qualification. The Plan was amended and
restated on July 1, 1998. The Plan Administrator believes the Plan is being
operated in compliance with the applicable requirements of the Code and,
therefore, believes that the Plan is qualified and the related trust is tax
exempt.
6
Page 12 of 16 Pages.
<PAGE>
SYMIX 401(k) PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
4. INVESTMENTS
Plan investments, at fair value, held by Merrill Lynch as of December 31, 1999
and 1998, are as follows:
<TABLE>
<CAPTION>
FAIR NET APPRECIATION
VALUE AT (DEPRECIATION)
DECEMBER 31, DURING THE YEAR ENDED
1999 1998 DECEMBER 31, 1999
-------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Common/Collective Trust Funds
Merrill Lynch Retirement Preservation Trust 1,528,878 units $ 1,528,879 $ 628,327 $ -
Mutual Funds
Merrill Lynch Fundamental Growth Fund 197,598 units 5,111,866 2,643,228 925,896
GAM International Fund 46,985 units 1,511,051 675,240 221,209
Merrill Lynch Capital Fund 41,977 units 1,343,697 1,288,872 (91,922)
Merrill Lynch Corporate Bond Fund
Investment 45,399 units 484,405 181,638 (23,190)
Merrill Lynch Growth Fund 59,024 units 1,610,166 825,191 336,588
Merrill Lynch S&P 500 Index Fund 40,434 units 728,620 66,721 61,877
Massachusetts Investors Trust 142,486 units 2,985,079 2,663,116 101,365
Davis New York Venture Fund, Inc. 31,902 units 917,495 64,237 44,840
-------------------------------------------------------
14,692,379 8,408,243 1,576,663
Pending Settlement Funds
Pending Settlement Fund 26,419 units 26,418 - -
Symix Systems, Inc.
common stock 145,623 shares 2,657,620 2,359,372 54,783
Participant loans Interest rates ranging
from 7% to 11% 286,549 179,549
-------------------------------------------------------
$ 19,191,845 $ 11,575,491 $ 1,631,445
=======================================================
</TABLE>
The market price per share of Symix common stock declined from $18.25 at
December 31, 1999 to $11.25 at May 18, 2000.
7
Page 13 of 16 Pages.
<PAGE>
SUPPLEMENTAL
SCHEDULE
Page 14 of 16 Pages.
<PAGE>
Symix 401(k) Profit Sharing Plan
Employer ID #31-1083175
Plan #001
Line 27a - Schedule of Assets Held for Investment Purposes
December 31, 1999
<TABLE>
<CAPTION>
IDENTITY OF ISSUE, BORROWER, DESCRIPTION OF CURRENT
OR SIMILAR PARTY INVESTMENT COST VALUE
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
MERRILL LYNCH
Common/Collective Trust Funds
Merrill Lynch Retirement
Preservation Trust 1,528,878 units $ 1,528,879 $ 1,528,879
Mutual Funds
Merrill Lynch Fundamental Growth Fund 197,598 units 4,110,286 5,111,866
GAM International Fund 46,985 units 1,332,364 1,511,051
Merrill Lynch Capital Fund 41,977 units 1,499,250 1,343,697
Merrill Lynch Corporate Bond Fund 45,399 units 505,767 484,405
Investment
Merrill Lynch Growth Fund 59,024 units 1,397,205 1,610,166
Merrill Lynch S&P 500 Index Fund 40,434 units 668,288 728,620
Massachusetts Investors Trust 142,486 units 2,872,635 2,985,079
Davis New York Venture Fund, Inc. 31,902 units 874,604 917,495
--------------------------------------------
13,260,399 14,692,379
Pending Settlement Funds
Pending Settlement Fund 26,419 units 26,418 26,418
Symix Systems, Inc.
common stock 145,623 shares 2,478,555 2,657,620
Participant loans Interest rates ranging
from 7% to 11% - 286,549
--------------------------------------------
$ 17,294,252 $ 19,191,845
============================================
</TABLE>
9
Page 15 of 16 Pages.
