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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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) NOVEMBER 23, 1999
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FRITZ COMPANIES, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 0-20548 94-3083515
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(STATE OR OTHER JURISDICTION (COMMISSION FILE (IRS EMPLOYER
OF INCORPORATION) NUMBER) IDENTIFICATION NO.)
706 MISSION STREET, SAN FRANCISCO, CALIFORNIA 94103
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (415) 904-8360
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INAPPLICABLE
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(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)
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Item 5. Other Events
On November 12, 1999, the Company issued a press release announcing the
opening of a new U.S. Customs Brokerage Processing Center in Dallas,
Texas designed to significantly improve service for its customers. A
copy of the press release is attached as Exhibit 1.
Item 7. Financial Statement and Exhibits
(c) See the attached Exhibit Index.
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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 hereunto duly authorized.
FRITZ COMPANIES, INC.
/s/ LYNN C. FRITZ
By__________________________________________
Lynn C. Fritz
Chairman of the Board and Chief Executive
Officer (Principal Executive Officer)
Dated: November 23, 1999
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EXHIBIT INDEX
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99.1 Press release dated November 12, 1999. 5
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FRITZ COMPANIES ANNOUNCES NEW U.S. CUSTOMS BROKERAGE PROCESSING CENTER; DALLAS
"CENTER OF EXCELLENCE" DESIGNED FOR IMPROVED SERVICE
SAN FRANCISCO, November 12 - Fritz Companies, Inc. (NASDAQ: FRTZ) today
announced the opening of a new U.S. Customs Brokerage Processing Center in
Dallas, Texas designed to significantly improve service for its customers.
Opening January 1, 2000, the state-of-the-art "Center of Excellence"
will be responsible for providing transactional Customs Brokerage services to
existing Fritz locations in the United States.
The transition to the new Center from existing local operations should
be seamless to Fritz customers - since all existing customer service processes
will remain fundamentally unchanged.
"The new facility will allow Fritz to provide substantially upgraded
service, including superior peak-volume coverage; enhanced employee training,
education, and retention; greater compliance specialization; improved overall
customer service through better use of new technology; and, consistency of
service," said Lynn C. Fritz, chairman and CEO, and Raymond L. Smith, COO,
members of the Office of the Chairman, in announcing the new Center.
The company expects no fiscal second quarter impact on results from this
action. However, in the second half, this initiative is anticipated to have an
earnings-per-share cost of between 14 cents and 16 cents. For fiscal year 2001,
the company is expected to experience a favorable impact of between 5 cents and
11 cents, with annual savings thereafter of approximately 16 cents per share.
The planned cost savings will result from the elimination of redundant
backroom processes in 47 U.S. locations. In addition, the company announced its
intentions to continue to evaluate other redundant processes.
Fritz Companies is a specialist in global integrated logistics,
delivering comprehensive supply chain solutions to its customers worldwide.
Fritz provides flexible door-to-door transportation and material management
through sophisticated information systems, placing its emphasis on simplifying
processes and reducing overall transportation costs. The Fritz network is
composed of highly trained professionals in more than 450 locations in some 115
countries.
Fritz Companies, Inc. (NASDAQ: FRTZ) global headquarters is at 706
Mission Street, San Francisco, CA, 94103 USA, tel #: 415.904.8360. All recent
press releases are available via fax-on-demand service accessed by dialing
888.286.6419. Additional information is available via the Internet:
www.fritz.com.
In this press release, the company makes forward-looking statements that
are subject to risks and uncertainties. These forward-looking statements include
information about possible or assumed future results of our operations. Also,
when any of the words "believes", "expects", "anticipates" or similar
expressions are used, the company is making forward-looking statements. Many
possible events or factors could affect the future financial results and
performance of the company. This could cause results or performance to differ
materially from those expressed in the company's forward-looking statements. You
are referred to the company's filings with the Securities and Exchange
Commission for further detail of such risks and uncertainties. The description
of risks and uncertainties is intended to qualify such forward-looking
statements in order to invoke the "safe harbor" provided by the Private
Securities Litigation Reform Act of 1995.
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