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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
JUNE 5, 1998
Date of report (Date of earliest event reported)
ANALOGY, INC.
(Exact name of registrant as specified in its charter)
OREGON 0-27752 93-0892014
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation or organization) Identification No.)
9205 SW GEMINI DRIVE
BEAVERTON, OREGON 97008
(Address of principal executive offices and zip code)
503-626-9700
(Registrant's telephone number including area code)
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ITEM 5. OTHER EVENTS
On June 5, 1998 Analogy, Inc. (the "Company") issued a press release
containing information about employment reductions and associated costs which
will result in a restructuring charge in the quarter ending June 30, 1998.
Additionally, the Company announced that it expects to report an operating
loss for the quarter ending June 30, 1998. The press release is included
herein as Exhibit 99.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release
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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.
Dated: June 10, 1998
ANALOGY, INC.
By: /s/ TERRENCE A. RIXFORD
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Terrence A. Rixford
Vice President, Finance and Administration
(Principal Financial Officer)
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EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE
For further information, contact:
Lillian Tsai Fletcher Chamberlin
Marketing Communications Manager Investor Relations
Analogy, Inc. Harris Massey Herinckx
(503) 626-9700 (503) 973-9226
ANALOGY ANNOUNCES EXPENSE REDUCTIONS
Beaverton, Oregon - June 5, 1998 - Analogy, Inc. (NASDAQ: ANLG) today
announced that it is taking steps to reduce expenses to bring them in line
with current sales levels. As a result, the company has eliminated
approximately 10 percent of its workforce in the last two months. Half of
these were the result of attrition and positions that will not be replaced.
The company also announced that it expects to report an operating loss for
the first fiscal quarter ending June 30, 1998. The quarter will also include
a restructuring charge associated with the employment reductions and
associated costs.
"While we deeply regret having to take these actions," said Gary Arnold,
chairman and president of Analogy, "we must return the company to acceptable
levels of growth and profitability as we move forward in the new fiscal
year."
This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Act of
1995. The forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements, including, without limitation, changes in capital spending plans
by key customers, increased adoption of behavioral modeling design
methodologies for mixed-signal and mixed-technology systems design, increased
dependence on large orders as a portion of quarterly revenue, Analogy's
ability to expand its markets as planned, seasonal fluctuations in the
Analogy's order patterns and competitive initiatives. The forward-looking
statements should be considered in light of these risks and uncertainties.
Analogy, Inc. is a world leader in the development of high-performance design
and analysis software and model libraries for the design of mixed-signal and
mixed-technology systems. The company's products are used in the aerospace,
automotive/transportation, semiconductor, telecommunications, computer
peripherals, medical, and industrial control industries. Analogy has offices
and support staff throughout the United States, Europe and Asia and is
headquartered in Beaverton, Oregon. For on-line information, visit the
company's web site at: http//www.analogy.com.
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