Sure, here's the 8K: "<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE> 1
UNITED STATES
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): October 20, 1999
Scient Corporation
--------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Delaware 000-25893 94-3288107
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
One Front Street, 28th Floor, San Francisco, California 94111
--------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Company's telephone number, including area code: (415) 733-8200
--------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report.)
<PAGE> 2
ITEM 5. OTHER EVENTS
The Company has announced that Morgan Stanley Dean Witter, the lead
underwriter for the Company's initial public offering, has agreed to an early
release of the underwriters' lock-up restrictions on up to 535,995 shares of the
Company's common stock. These shares will be available for sale starting on
October 25, 1999.
Further details regarding this announcement are contained in the
Company's press release dated October 20, 1999, attached as an exhibit hereto.
<PAGE> 3
ITEM 7. EXHIBITS.
<TABLE>
<CAPTION>
Exhibit
Number Description
------ -----------
<S> <C>
99.1 Press release, dated October 20, 1999.
</TABLE>
<PAGE> 4
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.
SCIENT CORPORATION
Date: October 21, 1999 By: /s/ William H. Kurtz
-------------------------------------
Name: William H. Kurtz
Title: Chief Financial Officer,
Executive Vice President
and Treasurer
<PAGE> 5
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit
Number Description
------ -----------
<S> <C>
99.1 Press release, dated October 20, 1999.
</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE> 1
EXHIBIT 99.1
Contacts:
Jeb Miller Meredith McGann
Director of Business Development Public Relations Manager
Scient Scient
415/591-3907 415/733-8849
jmiller@scient.com mmcgann@scient.com
SCIENT REPORTS FISCAL SECOND QUARTER RESULTS
Strong Execution and High-Value Systems Innovation Focus
Drives Record Sequential Growth
SAN FRANCISCO, October 20, 1999 - Scient (NASDAQ: SCNT), The eBusiness
Systems Innovator(TM), today reported results for its second fiscal quarter
(FY2000) ended September 30, 1999.
Revenues for the second fiscal quarter were $30.8 million, a sequential
increase of 88% from revenues of $16.4 million for the first quarter ended June
30, 1999, and an increase of 895% from revenues of $3.1 million for the same
period a year ago. Total headcount grew to 661 colleagues, up from 415 at the
end of the first fiscal quarter and up significantly from 120 at the end of the
same period a year ago. Professional services headcount grew to 484 colleagues,
up from 291 at the end of the first fiscal quarter.
Professional services margins were approximately 54%, versus 52% in the
first fiscal quarter and 42% in the same period a year ago. Pro forma net loss
(excluding stock compensation charges) narrowed by 59% in the second quarter to
$1.6 million, representing a pro forma net loss per diluted share of $0.04,
compared to the first quarter's pro forma net loss (excluding stock compensation
charges) of $4.0 million, or pro forma net loss per diluted share of $0.11.
Before pro forma adjustments, net loss for the second quarter was $5.8 million,
representing a net loss per share of $0.21.
<PAGE> 2
Commenting on the quarter, Bob Howe, president and CEO of Scient, said,
"By any measure, we are pleased with our results this quarter. By maintaining
our focus on the high-value systems innovation market and continuing to execute
on the delivery of superior client and colleague satisfaction, we were able to
achieve record sequential revenue growth and strengthen our industry-leading
position."
"Scient began to realize substantial operating leverage this quarter
from the infrastructure investments we are making," noted Bill Kurtz, executive
vice president and CFO of Scient. "We are continuing to invest aggressively to
expand our capacity and operations infrastructure to serve clients globally and
position Scient for long-term sustainable growth. We are also pleased to
announce the formation of Scient Capital, a strategic investment vehicle that
provides the opportunity to strengthen long-term client relationships and
participate in the value-creation potential of our clients."
"In addition to delivering strong results, this quarter we focused on
building out our six vertical industry business units and increasing the breadth
and depth of our innovation centers," added Bob Howe. "In particular, we
expanded our customer experience and innovation capabilities through the launch
of our Innovation Acceleration Lab and the addition of several key design
professionals to augment our customer experience strategy, design, information
architecture, content strategy and customer research skill sets."
Concurrent with this announcement, Morgan Stanley Dean Witter, the lead
underwriter for Scient's initial public offering, has authorized the release of
an aggregate of 535,995 shares from IPO lockup agreements. The released shares
are held by Scient colleagues and certain participants in the IPO directed share
program, exclusive of Scient's executive officers. These shares will be
available for sale no earlier than October 25, 1999.
<PAGE> 3
FISCAL Q2 OPERATIONAL HIGHLIGHTS
o Served 40 clients, including 11 new clients such as:
- Fasturn.com (global business-to-business internet textile
exchange)
- Hambrecht & Quist
- Johnson & Johnson
- PointServe (eCommerce solutions provider for mobile service
industries)
- Washington Mutual Bank
o Validation of our value proposition with the successful IPOs of
homestore.com and PlanetRx.com and the successful launches of Miadora
(fine jewelry and gifts provider) and Sephora.com (retail beauty
products provider)
o Deepening relationships with clients such as BenefitPoint, Chase
Manhattan Bank, Hewitt Associates, homebid.com, Inacom, NASDAQ and
Starwood Hotels
o Expanded customer experience and innovation capabilities
- Launched the Scient Innovation Acceleration Lab
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