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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20546
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 26, 1997
SOFTWARE SPECTRUM, INC.
(Exact name of registrant as specified in its charter)
Texas 0-19349 75-1878002
(State of incorporation (Commission File Number) (I.R.S. Employer
or organization) Identification No.)
2140 Merritt Drive
Garland, Texas 75041
(Address of principal executive offices) (Zip Code)
(972) 840-6600
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
On March 26, 1997, the Board of Directors of SOFTWARE SPECTRUM, INC.
(the "Company") voted to change the fiscal year end of the Company to April 30
of each year.
This change will better accommodate the Company's business cycles in a
variety of ways, including moving its quarter-ends and year-end away from its
strongest sales months--March, June, September and December. The Company
anticipates that this change will also provide enhanced comparability between
fiscal 1997 and 1998 results due to the impact of the Company's May 1996
acquisition of the corporate, government and education division of Egghead,
Inc. The Company expects to announce its financial results for the fiscal year
ending April 30, 1997, in mid-to-late June.
The Company's annual report on Form 10-K, which will be filed within
ninety days of April 30, 1997, will cover the one month transition period from
April 1, 1996 through April 30, 1996.
A copy of the press release announcing the change in the fiscal year
end is included as an exhibit to this report and is incorporated herein by
reference.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired:
None.
(b) Pro forma financial information:
None.
(c) Exhibits:
(99) Press Release dated March 26, 1997.
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SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange
Act of 1934, the registrant has duly caused this registration to be signed on
its behalf by the undersigned, thereto duly authorized.
SOFTWARE SPECTRUM, INC.
By: /s/ DEBORAH A. NUGENT
--------------------------------
Name: Deborah A. Nugent
Title: Vice President of Finance
Date: April 9, 1997
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT DESCRIPTION
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<S> <C>
(99) Press Release dated March 26, 1997.
</TABLE>
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FOR MORE INFORMATION, CONTACT:
(972) 840-6600
Judy Sims, Chief Executive Officer
Deborah Nugent, Vice President of Finance
Katherin Dockerill, Investor Relations
SOFTWARE SPECTRUM
CHANGES FISCAL YEAR-END
(NASDAQ: SSPE)
Garland, Texas, (March 26, 1997) -- Software Spectrum today announced that its
Board of Directors has approved a change in the Company's fiscal year-end from
March 31 to April 30. This change will better accommodate the Company's
business cycles in a variety of ways, including moving its quarter-ends and
year-end away from its strongest sales months--March, June, September and
December.
This change will also provide enhanced comparability between fiscal 1997 and
1998 results due to the impact of the Company's May 1996 acquisition of the
corporate, government and education division of Egghead, Inc. The Company
expects to announce its financial results for the fiscal year ending April 30,
1997, in mid-to-late June.
Software Spectrum sales in January 1997 were characteristically weak.
Historically, sales for the month of January have been low following high
expenditures by corporate customers in the month of December, which is
typically the strongest sales month of the year for the Company. Sales in
February and March 1997 improved over January, yet at this time the increased
volume is not expected to fully compensate for the low level of January sales,
when evaluated on the basis of expected sales for the calendar quarter.
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SOFTWARE SPECTRUM CHANGES
FISCAL YEAR-END
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Software Spectrum is the leading worldwide supplier of microcomputer software
and technology services to organizations. Focused on delivering the future of
desktop technology, Software Spectrum is committed to providing superior
service while maintaining a cost-efficient operating structure. The Company
provides customers with a wide variety of business software products, volume
software licensing and technology services, and assists them in the
implementation, deployment, and ongoing support of their personal computing
strategies. Software Spectrum has sales locations, operations centers and
technology services offices in North America, Europe, and Asia/Pacific.
The Company's actual results may differ materially from those estimated in
forward-looking statements of the Company contained in this release. Further
information on the factors that could affect the Company's financial results
are included in the Company's Form 10-K for the fiscal year ended March 31,
1996. Software Spectrum stock is publicly traded on the NASDAQ National Market
System under the symbol SSPE.
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