SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 6, 2003
INFONET SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 001-15475 | 95-4148675 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification Number)
| ||
| 2160 East Grand Avenue El Segundo, California |
90245-1022 (Zip Code) | |||
| (Address of principal executive offices) |
(310) 335-2600
(Registrant’s telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits. The following exhibit is being furnished herewith:
| 99.1 | Infonet Services Corporation press release dated November 6, 2003 | |
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On November 6, 2003, Infonet Services Corporation (“Infonet”) issued a press release announcing its operating results for the first half and the second quarter of fiscal year 2004. A copy of the press release is furnished as Exhibit 99.1 to this report and is hereby incorporated to this Item 12 by reference.
Infonet had previously announced the termination by its terms of its arrangement with AUCS Communications Services N.V. With the completion of the European outsourcing contract, Infonet no longer receives outsourcing revenue associated with the provisioning of outsourcing services. The press release contains a discussion of the non-GAAP financial measures of core revenue and core operating expenses. Core revenue is defined as revenue, excluding outsourcing contract revenue. Core operating expenses is defined as expenses, excluding expenses associated with providing outsourcing services. Core revenue represents 100% of revenue for the first half of fiscal year 2004 and core expenses represents 100% of expenses for the first half of fiscal year 2004. Infonet uses core revenue and core expenses to supplement its financial statements presented in accordance with GAAP. Since Infonet will no longer receive outsourcing revenue, core revenue and core expenses are provided to enhance the investor’s overall understanding of Infonet’s current financial performance and prospects for the future. Specifically, Infonet believes that inclusion of core revenue and core expenses provides consistency in its financial reporting and facilitates the comparison of results of operations between its current, past and future periods. In addition, core revenue is one of the primary indicators management uses for planning and forecasting in future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with accounting principles generally accepted in the United States.
Infonet is holding an investor conference call and audio webcast beginning at 9:00 a.m. Eastern Standard Time on November 7, 2003 to disclose its financial results for the first half and the second quarter of fiscal year 2004. The conference call can be accessed live by calling 1-800-310-1961 for domestic locations or +1-719-457-2692 for international locations. The webcast can be accessed live via the investor relations section of the Infonet website at www.infonet.com. Replays of the investor conference call will be available from 12:00 noon Eastern Standard Time on November 7, 2003 through 12:00 midnight Eastern Standard Time on November 11, 2003 by calling 1-888-203-1112 for domestic locations or +1-719-457-0820 for international locations. The confirmation code for the replay is 297829.
The information in this section shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.
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.
| INFONET SERVICES CORPORATION
| ||||||||
| Date: November 6, 2003 | By: | /s/ PAUL A. GALLEBERG | ||||||
| Name: |
Paul A. Galleberg | |||||||
| Title: |
Senior Vice President, General Counsel and Secretary | |||||||
Exhibit Index
| Exhibit |
Description of Exhibit | |
| 99.1 | Infonet Services Corporation press release dated November 6, 2003 | |