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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 14, 2000
MERANT plc
(Translation of Registrant's Name Into English)
The Lawn, Old Bath Road, Newbury, England RG14 1QN
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F _____
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(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes X No _____
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2 (b): 82-795.)
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LONDON STOCK EXCHANGE ANNOUNCEMENT
Number of reports in announcement:
Not Applicable
Company Name:
MERANT plc
Full Issuer Name:
MERANT plc
AVS Security Number:
Unknown
Release Date:
IMMEDIATELY
Release Time:
IMMEDIATELY
Embargo Details:
Telephone Confirmation of Release Required:
Contact Name:
Philip Rosier
Tel. No:
01635 565583
Announcement Given To Third Parties:
Amendment:
Headline:
Announcement Body Information:
FOR IMMEDIATE RELEASE
CONTACTS:
MERANT VMW Corporate & Investor Relations
Ken Sexton Sylvia Dresner/Vicki Weiner
Chief Financial Officer United States
+1 (301) 838 5210 +1 (212) 616 6161
[email protected] [email protected]
Larry De'Ath Financial Dynamics
VP, Investor Relations Giles Sanderson/Jon Earl
+1 (301) 838 5228 United Kingdom
[email protected] +44 (0) 207 831 3113
[email protected]
MERANT Reviews Fiscal Year 2001 Business Strategy and Fourth Quarter Update
Focus on High Growth Areas
www.merant.com - April 14, 2000 - MERANT (London Stock Exchange (LSE): MRN;
Nasdaq National Market (NNM): MRNT), a global leader in enterprise application
development and e-business solutions, has scheduled a meeting to be held today
at 10:00 am US EDT (3:00 pm BST) with investors, potential investors and
analysts to review its business strategy for the fiscal year ending April 30,
2001, including financial targets for the same period. MERANT's revenue is
targeted to grow at 8-10% overall for fiscal year 2001, led by MERANT's Egility
(TM) e-business solutions which are targeting growth rates of 25-30%. Pre-tax
earnings before goodwill amortization are targeted to be 7-9% of overall revenue
for fiscal year 2001.
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For the fourth quarter ended April 30, 2000, revenues are estimated to be in the
range of $94 million to $100 million (GBP 58.5 million to GBP 62 million).
Estimated revenues excluding Year 2000 revenues, are expected to grow compared
to last year's fourth quarter. The estimated operating earnings, excluding
goodwill amortization and restructuring charges, are expected to be between
break-even and 5% of revenue. During the business planning process for fiscal
year 2001, the Company began to accelerate its investments in Egility and
Internet-related activity and began to realign resources (people and programs)
to better support its growth strategy for fiscal year 2001. As a result of
planned realignment, MERANT expects to incur non-recurring charges of $10
million to $15 million (GBP 6 million to GBP 9 million) in the quarter ending
April 30, 2000. A substantial portion of restructuring charge will be related to
non-cash write-offs of previously capitalized software cost. MERANT's final
results for the fiscal year ending April 30, 2000 are expected to be released on
June 6, 2000.
This announcement has been made in accordance with London Stock Exchange
requirements. These financial targets for the fiscal year 2001 specified above
are not a forecast of revenue and earnings for the fiscal year ending April 30,
2001, and should not be construed as a forecast. Statements regarding these
targets are forward-looking statements that are subject to risks and
uncertainties, and actual results may differ materially. Factors that could
cause actual results to differ materially are listed below in this announcement.
MERANT's president and CEO, Gary Greenfield, said, "MERANT is excited about the
prospects for fiscal 2001, especially the acceleration of our Egility and
Internet-related businesses. The Company is focused on rapidly providing
sustainable e-business value to our customers, and we expect two-thirds of
MERANT's revenues to be e-business related by the end of fiscal 2001."
Those interested in participating in today's conference call should reference
MERANT's web site at http://www.merant.com.
About MERANT
Founded in 1976, MERANT is a leader in Enterprise Application Development,
providing the products, people and processes to accelerate the customer's
business through the application of innovative information technology. The
MERANT Egility framework empowers organizations to transform their enterprise
applications for the changing technology and business requirements of the
e-business environment, manage the application development process, and provide
integrated data connectivity across the enterprise, from the mainframe to the
Internet. A global organization with approximately $370 million in annual
revenues and nearly 2,000 employees, MERANT has 500 technology partners and more
than 5 million licenses at over 35,000 customer sites - including the entire
Fortune 100 and the majority of the Global 500. For additional information on
MERANT and its solutions, visit the MERANT Web site at www.merant.com.
Forward-Looking Statements
The following statement is made in accordance with the U.S. Private Securities
Litigation Reform Act of 1995: This announcement contains forward-looking
statements that include statements regarding expectations for MERANT's business
prospects and growth, as well as the growth of MERANT's e-business solutions
business in fiscal year 2001. These forward-looking statements involve a number
of risks and uncertainties. The financial estimates and targets indicated in
this announcement are preliminary estimates only. The financial results that
will be reported by MERANT for the fourth fiscal quarter are contingent on the
ability of MERANT to close anticipated sales prior to the end of the quarter and
limit costs to those estimated for the remainder of the quarter, and also
subject to review of the revenue recognized and expenses incurred in the quarter
for consistency with MERANT's accounting policies and GAAP. Actual results may
not fall within the ranges indicated above and could differ materially. Future
results will be difficult to predict as MERANT transforms its business strategy
to provide e-business solutions and away from certain of its past primary
markets, including the market for Year 2000 products and services. Factors that
could cause actual results to differ materially include, among others, the
ability of MERANT to effectively manage its costs against uncertain revenue
expectations, the potential for a decrease in net revenue which may be caused by
delays in the timing of sales and the delivery of products or services, the
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ability of MERANT to develop, release, market and sell products and services to
customers in the highly dynamic market for enterprise application development
and e-business solutions, the potential need for enterprise application
development solutions and e-business solutions to shift based on changes in
underlying technology standards coming into use, the market acceptance of
MERANT's e-business solutions and e-business solutions generally, the effect of
competitors' efforts to enter MERANT's markets, and MERANT's ability to manage
and integrate recently acquired businesses or other businesses that it may
acquire in the future. Further information on potential factors which could
affect MERANT's financial results is included in MERANT's Annual Report on Form
20-F for the year ended April 30, 1999, and Quarterly Reports on Form 6-K for
the quarters ended July 31, 1999, October 31, 1999 and January 31, 2000, each as
submitted to the SEC and as may be updated and amended with future filings or
submissions. MERANT undertakes no obligation to release publicly any updates or
revisions to any forward-looking statements contained in this announcement that
may reflect events or circumstances occurring after the date of this
announcement.
Trademark Notice
MERANT and Egility are trademarks of MERANT. All other trademarks as they appear
in this announcement are the property of their respective owners.
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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, thereunto duly authorized.
MERANT plc
(Registrant)
Date: April 14, 2000 By: /s/ Kenneth A. Sexton
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Kenneth A. Sexton
Chief Financial Officer
