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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): June 23, 1999 (June 21, 1999)
CIBER, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-23488 38-2046833
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
5251 DTC Parkway, Suite 1400, Englewood, Colorado 80111
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 220-0100
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CIBER, Inc.
Information to be included in the Report
ITEM 5. OTHER EVENTS.
On June 21, 1999 CIBER. Inc.'s Board of Directors authorized the
re-purchase of up to 10% of CIBER's outstanding common stock. CIBER, Inc.
plans to immediately begin purchasing stock on the open market, through
negotiated or block transactions, and could continue to do so from time to
time based upon market and business conditions.
ITEM 7 (c). EXHIBITS.
99.1 News Release dated June 22, 1999 announcing plan to re-purchase stock.
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.
CIBER, Inc.
Date: June 23, 1999 By: /s/ Christopher L. Loffredo
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Christopher L. Loffredo
V.P./Chief Accounting Officer
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Exhibit 99.1
-- CIBER, INC. NEWS RELEASE --
For Immediate Release Contact:
Kara Kennedy
Shareholder Relations
303/220-0100
CIBER ANNOUNCES PLAN TO RE-PURCHASE STOCK
Englewood, Colorado -- June 22, 1999 -- CIBER, Inc. ("CIBER") (NYSE: CBR)
announced today that the Company's Board of Directors has authorized the
re-purchase of up to 10% of CIBER's outstanding common stock. The Company
plans to immediately begin purchasing stock on the open market, through
negotiated or block transactions, and could continue to do so from time to
time based upon market and business conditions. In addition, the Board
authorized management to commence a program to re-purchase shares to satisfy
the needs of its various employee benefit plans on an ongoing basis. CIBER
has approximately 59 million shares of common stock outstanding. J.P. Morgan
will be the agent for this program.
"We find ourselves at a cross-road where, albeit calendar 1999 has had
slowing growth for CIBER and our industry sector, we have a high degree of
confidence in CIBER's future and believe this expectation is not sufficiently
reflected in our stock price," stated Mac Slingerlend, CIBER's CEO.
"Re-purchasing shares allows us to demonstrate this confidence. We believe
we can be the next $1 billion, global systems integrator. With the arrival of
Paul Rudolph as COO, we further believe we can execute a more E-Business
centric focus and leading-edge business model," Mr. Slingerlend continued.
As a result of the re-purchase program, the previously announced business
combinations of York Associates, Integration Software Consultants and
Business Impact Systems, which were to be treated as poolings of interests,
will now be treated as purchase transactions.
CIBER, Inc. is a premier provider of system integration consulting
services. Employing 6,700+ employees located in over 45 major cities in 25
states plus Canada, CIBER offers leveraged information technology integration
solutions in five principal areas: management consulting, aligning
business/IT solutions (including E-Business, data warehousing and middleware
integration), enterprise applications solutions (EAS/ERP) implementation and
outsourcing services, enterprise integration and network services consulting,
and professional services.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Forward-looking statements involve risks and uncertainties that
could cause actual results to vary materially from such statements. Please
refer to discussions of certain of these risks and uncertainties in the
Company's Annual Reports, 10-Ks, 10-Qs and other Securities and Exchange
Commission filings.
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CIBER, Inc., 5251 DTC Parkway, Suite 1400, Englewood, CO 80111
http://www.ciber.com
