6-K 1 a6-k.txt FORM 6-K 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 June, 2000 GENTIA SOFTWARE PLC Tuition House St George's Road Wimbledon London SW19 4EU United Kingdom (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F X Form 40-F -------------- -------------- 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 No X -------------- -------------- If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- N.A. GENTIA SOFTWARE PLC FORM 6-K For Immediate Release On May 17, 2000, Kenneth Volet was appointed as a director to the Board of Gentia Software plc. Mr. Volet has over 20 years experience in the software industry. Mr. Volet was co-founder of ebi Solutions, a software applications development company in December 1998. Prior to joining ebi, Mr. Volet was Senior Vice President, Worldwide Sales & Marketing for Seagate Software, a multi-national software development and services company. Prior to joining Seagate Software, Mr. Volet was President and CEO of Holistic Systems, Inc., a software development company with significant presence in the business intelligence marketplace. In 1996 Holistic Systems was acquired by Seagate Software. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused the Report to be signed on its behalf by the undersigned, thereunto duly authorized. GENTIA SOFTWARE plc By: /s/ Nicholas P.S Bray Nicholas P.S Bray Chief Financial Officer Date: June 29,2000

Page Financial Information: Condensed Consolidated Balance Sheets as of March 31, 2000 (unaudited) and December 31, 1999 (unaudited) 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2000 and 1999 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2000 (unaudited) and 1999 (unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Management's Discussion and Analysis of Financial Condition and Results of Operations. 7-9 Exhibit Index 10 Exhibit A. First Quarter Press Release 11

MARCH 31 DECEMBER 31 2000 1999 ---------------- ---------------- (UNAUDITED) (UNAUDITED) (IN THOUSANDS) US$ US$ ASSETS Current assets: Cash and cash equivalents ..................... $ 1,216 $ 2,968 Accounts receivable, net of allowances ........ 9,584 7,757 Trade account receivables .................. 12,968 11,214 Less: Allowance for doubtful debt ....... (3,384) (3,457) Prepaid expenses and other current assets ..... 870 559 Tax recoverable ............................... -- -- -------- -------- Total current assets ..................................... 11,670 $ 11,284 Property and equipment, net .......................... 1,004 1,153 Purchased software, net of amortization of $739 (Dec 31, 1999 - $609) ............................ 1,870 2,000 Goodwill on acquisition, net of amortization of $2,416 (Dec 31, 1999 - $2,286) .......................... 3,700 3,831 -------- -------- Total assets ............................................. $ 18,244 $ 18,268 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of lease obligations .......... $ 83 $ 46 Accounts payable .............................. 2,186 2,784 Accrued liabilities ........................... 1,376 2,624 Deferred revenues ............................. 4,131 3,259 Other accounts payable ........................ 1,805 1,289 Short Term loans .............................. -- 4,442 -------- -------- Total current liabilities ................................ $ 9,581 $ 14,444 Non current liabilities: Long-term portion of lease obligations ........ 102 121 -------- -------- Total Liabilities ........................................ $ 9,683 $ 14,565 Shareholders' equity: Ordinary shares ............................... 2,869 2,481 Additional paid-in capital .................... 33,242 29,009 Retained (deficit) ............................ (26,519) (26,695) Cumulative translation adjustment ............. (1,031) (1,092) -------- -------- Total shareholders' equity ............................... $ 8,561 $ 3,703 -------- -------- Total liabilities and shareholders' equity ............... $ 18,244 $ 18,268 ======== ========

THREE MONTHS ENDED -------------------------------------------- MARCH 31, MARCH 31, 2000 1999 -------------------------------------------- (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) (UNAUDITED) US$ US$ Revenues: License .................................... $ 3,684 $ 2,294 Services and other ......................... 2,979 3,657 -------- -------- 6,663 5,951 Cost of revenues: License .................................... 211 132 Services and other ......................... 1,639 2,615 -------- -------- 1,850 2,747 Gross profit .................................... 4,813 3,204 Operating expenses: Sales and marketing ........................ 2,603 3,658 Research and development ................... 973 1,589 General and administrative ................. 710 988 Purchased research and development .......... -- -- Restructuring costs ......................... -- 500 Goodwill amortization ....................... 260 199 -------- -------- Total operating expenses ............ 4,546 6,934 Income / (loss) from operations ................. 267 (3,730) Interest (expense) / income ..................... (90) 41 -------- -------- Income / (loss) before provision for income taxes 177 (3,689) Provision for income taxes ...................... -- -- -------- -------- Net income / (loss) ............................. $ 177 ($ 3,689) ======== ======== Basic income / (loss) per share ................. $ 0.02 ($ 0.36) Diluted income / (loss) per share ............... $ 0.01 ($ 0.36) Shares used to compute basic EPS ........... 10,719 10,178 Shares used to compute diluted EPS ......... 13,897 10,178

THREE MONTHS ENDED ------------------------------------------------ MARCH 31, 2000 MARCH 31, 1999 ----------------- ---------------------- (IN THOUSANDS) US$ US$ CASH FLOWS FROM OPERATING ACTIVITIES Net income / (loss).................................................. $177 $(3,689) Adjustments to reconcile net income/(loss) to net cash (used in) operating activities: Depreciation................................................ 168 286 Goodwill amortization....................................... 261 199 In-process research and development......................... - Loss on disposal of assets.................................. 2 - Loss on disposal of subsidiary.............................. - - Changes in operating assets and liabilities: Accounts receivable..................................... (1,754) 1,196 Provision for bad debts................................. (73) (251) Prepaid expenses, recoverable taxes and otherassets..... (311) 15 Accounts payable........................................ (597) (178) Accrued liabilities and other accounts payable.......... (734) (730) Deferred revenues....................................... 872 322 ----------------- ---------------------- Net cash (used in) operating activities....................................... (1,989) (2,830) ----------------- ---------------------- CASH FLOWS FROM INVESTING ACTIVITIES: Cost of acquisition......................................... - - Proceeds on sale of property and equipment.................. - - Proceeds on sale of subsidiary.............................. - - Purchases of property and equipment......................... (21) (194) ----------------- ---------------------- Net cash used in investing activities......................................... (21) (194) ----------------- ---------------------- CASH FLOWS FROM FINANCING ACTIVITIES: Net proceeds on shares issued......................... 620 - Short term loan repaid................................ (363) - Generation (repayment) of capital lease obligations... 18 128 ----------------- ---------------------- Net cash provided by financing activities............................... 275 128 ----------------- ---------------------- Effect of exchange rate changes on cash........................ (17) (22) ----------------- ---------------------- Net (decrease) in cash......................................... (1,752) (2,918) Cash at beginning of period.................................... 2,968 5,314 ----------------- ---------------------- Cash at end of period.......................................... $1,216 $2,396 ================= ======================

Page Exhibit A First Quarter Press Release - (2000) 11

THREE MONTHS ENDED -------------------------------------------- MARCH 31, MARCH 31, 2000 1999 ------------------ ---- -------------------- (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) (UNAUDITED) US$ US$ Revenues: License....................................... $3,684 $2,294 Services and other.......................... 2,979 3,657 ------------------ -------------------- 6,663 5,951 Cost of revenues: License......................................... 211 132 Services and other........................... 1,639 2,615 ------------------ -------------------- 1,850 2,747 Gross profit....................................... 4,813 3,204 Operating expenses: Sales and marketing......................... 2,603 3,658 Research and development.................. 973 1,589 General and administrative................. 710 988 Purchased research and development.... - - Restructuring costs......................... - 500 Goodwill amortization...................... 260 199 ------------------ -------------------- Total operating expenses........ 4,546 6,934 Income / (loss) from operations............... 266 (3,730) Interest (expense) / income.................... (90) 41 ------------------ -------------------- Income / (loss) before provision for income taxes 177 (3,689) Provision for income taxes - - ------------------ -------------------- Net income / (loss)............................. 177 ($3,689) ================== ==================== Basic income / (loss) per share............... $0.02 ($0.36) Diluted income / (loss) per share............ $0.01 ($0.36) Shares used to compute basic EPS......... 10,719 10,178 Shares used to compute diluted EPS...... 13,897 10,178

MARCH 31 DECEMBER 31 2000 1999 ---------------- ---------------- (UNAUDITED) (UNAUDITED) (IN THOUSANDS) US$ US$ ASSETS Current assets: Cash and cash equivalents.................................. $1,216 $2,968 Accounts receivable, net of allowances................... 9,584 7,757 Trade account receivables.............................. 12,968 11,214 Less: Allowance for doubtful debt.................... (3,384) (3,457) Prepaid expenses and other current assets................ 870 559 Tax recoverable............................................... - - ------------- ------------- Total current assets........................................................ 11,670 $11,284 Property and equipment, net........................................ 1,004 1,153 Purchased software, net of amortization of $739 (Dec 31, 1999 - $609).............................................. 1,870 2,000 Goodwill on acquisition, net of amortization of $2,416 (Dec 31, 1999 - $2,286).......................................... 3,700 3,831 ------------- ------------- Total assets................................................................. $18,244 $18,268 ============= ============= LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of lease obligations....................... $83 $46 Accounts payable............................................. 2,186 2,784 Accrued liabilities............................................ 1,376 2,624 Deferred revenues............................................ 4,131 3,259 Other accounts payable...................................... 1,805 1,289 Short Term loans............................................. - 4,442 ------------- ------------- Total current liabilities................................................... $9,581 $14,444 Non current liabilities: Long-term portion of lease obligations................... 102 121 ------------- ------------- Total Liabilities $9,683 $14,565 Shareholders' equity: Ordinary shares............................................... 2,869 2,481 Additional paid-in capital................................... 33,242 29,009 Retained (deficit)............................................ (26,519) (26,695) Cumulative translation adjustment........................ (1,031) (1,092) ------------- ------------- Total shareholders' equity................................................ $8,561 $3,703 ------------- ------------- Total liabilities and shareholders' equity............................... $18,244 $18,268 ============= =============

Filing Compare · GENTIA SOFTWARE PLC