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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2003
ATTUNITY LTD
(Name of Registrant)
Einstein Building, Tirat Carmel, Haifa, Israel 39101
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant 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-
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This Form 6-K is being incorporated by reference into the Company's
Form F-3 Registration Statements File Nos. 333-11972, 333-12450 and 333-14140.
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ATTUNITY LTD
6-K Items
1. Attunity Ltd Press Release re: Attunity's Second Quarter Results
Item 1
Press Release Source: Attunity Ltd.
Attunity Announces Second Quarter 2003 Results
Monday July 28, 5:00 pm ET
WAKEFIELD, Mass.--(BUSINESS WIRE)--July 28, 2003--Attunity Ltd. (NASDAQ: ATTU -
News), a leading provider of standards-based integration middleware for
accessing mainframe, enterprise data sources and legacy applications, today
announced financial results for the second quarter ended June 30, 2003.
Total revenues in the second quarter of 2003 were $4,333,000, compared with
$4,321,000 for the same period in the prior year and compared with $4,202,000 in
the first quarter of 2003. Gross profit in the second quarter of 2003 was
$2,878,000 compared with gross profit of $2,813,000 for the same period in 2002
and $2,749,000 in the first quarter of 2003. Excluding non-recurring expenses,
net income was $198,000 or $0.01 per share in the second quarter of 2003. Net
loss, including non-recurring expenses, was $(212,000) or $(0.01) per share
compared with a net income of $437,000 or $0.03 per share in the second quarter
of 2002 and a net income of $155,000 or $0.01 in the first quarter of 2003.
Total revenues in the first six months of 2003 were $8,535,000 compared
with $8,529,000 for the same period in the prior year. Gross profit in the first
six months of 2003 was $5,627,000 compared with gross profit of $5,606,000 for
the same period in 2002. Excluding non-recurring expenses, net income in the
first six months of 2003, was $353,000 or $0.02 per share. Net loss in the first
six months of 2003, including non-recurring expenses, was $(57,000) or $(0.00)
per share compared with net income of $842,000 or $0.06 per share in the first
six months of 2002.
As a result of an inability to reach a mutual agreement in the termination of
the lease for our former offices in Massachusetts, which had a commencement date
of May 1, 2003, the company has been served with legal papers. The company
believes that it has good and valid defense to the claim and intends to
vigorously defend itself. The company recorded a non-recurring charge of
$410,000 in the second quarter of 2003 related to this claim.
"We are executing our strategy to maintain the company's operating profitability
while investing in extending channel partners which is a key element for the
growth of our company," said Arie Gonen, chairman of Attunity. "Earlier this
year we announced an OEM agreement with Oracle to provide Attunity Connect as
part of their Application Server and integration products. In addition, our new
reseller agreement with HP is yet another proof point that Attunity Connect is
rapidly becoming the de facto standard for enterprise connectivity."
"During the quarter we strengthened our management team by adding Ofer Segev as
CFO/COO for the company. Ofer resides in the US and is responsible for managing
the Attunity operation with an emphasis on improving our execution across all
matrices and on our relationships with the investment community. Ofer joined our
company two months ago and I am confident that he will have a substantial impact
on Attunity's results," said Arie Gonen.
Highlights of Attunity's Second Fiscal Quarter 2003
Customer Wins
New customers this quarter included Sprint, Visa USA, Pelton & Crane, Medtronic,
Landata, Inova Health System, Trans International Company, Telvent, Phoenix
Controls Corporation, Coalfire, Valassis, Group Health Cooperative, Continuum
Health Partners, ETI Canada, and Rocla.
Channel Partnerships
Hewlett Packard's services organization has entered into a reseller agreement
with Attunity to offer the full line of Attunity Connect products. HP Services
employs 65,000 professionals and has been endorsed by Microsoft as a Worldwide
Prime Integrator. This new relationship will expand the market reach of Attunity
Connect in both the Microsoft and BEA solutions implemented by HP Services.
Oracle signed a new OEM licensing agreement with Attunity to offer
industry-leading integration adapters to a broad range of mainframe data and
transaction systems for the Oracle 9i Application Server. With support for J2EE
standard interfaces such as JDBC and JCA, these Attunity Connect based adapters
provide real-time, read-write access to support the full range of capabilities
of Oracle 9iAS including enterprise portals, business intelligence, rapid
application development, application and business integration, and Web services.
As a result of the close technical collaboration with Microsoft, Attunity was
one of a select few vendors to introduce adapters for the beta distribution of
the Jupiter product. This upcoming Microsoft product will incorporate BizTalk
integration, portal and commerce capabilities into a unified platform that will
provide a greater market need for the connectivity adapters provided by
Attunity.
IBM and Attunity entered into cooperative sales and marketing partnership for
Attunity Connect adapters for IBM WebSphere Application Server. The Attunity
Adapter Suite for IBM WebSphere allows enterprises to seamlessly integrate with
existing systems (e.g. CICS, IMS, VSAM, NonStop SQL) by exposing their functions
and data as reusable services. The suite includes a comprehensive prebuilt
adapter library, support for WebSphere interfaces including J2EE Connector
Architecture (JCA), and the Attunity Studio plug-in to IBM WebSphere Studio to
increase user productivity and easy of use.
New Product Offerings
Attunity announced the release of Attunity Connect 4.0 and Attunity Connect
Studio, an integrated GUI console for complete life-cycle management of legacy
systems integration. The Attunity Connect Studio facilitates the design,
configuration and management of adapters to legacy data sources and
applications. With a market-leading level of ease of use, the Attunity Connect
Studio enables enterprises to leverage their existing systems faster and with
greater reuse.
Attunity will conduct a teleconference tomorrow at 11:00 a.m. US Eastern
Standard Time. To take part in the conference call, please dial (800) 299-7089
or (617) 801-9714 ten minutes prior to the 11:00 a.m. start and enter
participant code 97649373. This call will also be broadcast live on
www.attunity.com and an online replay will be available approximately one hour
after the call by dialing (888) 286-8010 or (617) 801-6888 and enter participant
code 36102303.
About Attunity Ltd.
Attunity(TM) is a leading provider of standards-based integration middleware for
accessing mainframe, enterprise data sources and legacy applications.
Founded in 1988 and traded on the NASDAQ exchange, Attunity's worldwide
operations support over 1,000 direct end-users including many of the Fortune
1000. Through distribution and OEM agreements with global-class partners such as
Oracle and HP, Attunity-based solutions are deployed on tens of thousands of
systems worldwide.
The Attunity Connect product family provides standards-based access to over 35
data sources on 20 different computing platforms. Attunity Connect adapters
reside natively on each target platform and provide enterprise-class integration
capabilities such as real-time read/write access, distributed transaction
management, heterogeneous joins between relational and non-relational data
sources, and optimized query execution. Attunity Connect makes legacy systems
accessible through SQL and XML based interfaces including JDBC, ODBC, JCA, COM
and SOAP.
Attunity's products are available through direct sales and support offices in
the United States, the United Kingdom, France, Israel, the People's Republic of
China, and Australia, as well as distributors in Japan, S.E. Asia, Europe and
Latin America. For more information, visit www.attunity.com or email
info@attunity.com.
Copyright (C) 2003 Attunity Ltd. All rights reserved.
Attunity, the Attunity logo, Application Adapter Framework, Attunity AAF,
Attunity Connect and Web Services Process Integration are trademarks of Attunity
Ltd. All other marks are the property of their respective owners.
This press release contains forward-looking statements that are subject to risks
and uncertainties. Factors that could cause actual results to differ materially
from these forward-looking statements include, but are not limited to, general
business conditions in the industry, product technology developments, market
acceptance of our products and continuing product demand, the impact of
competitive products and pricing, changing economic conditions, release and
sales of new products by strategic resellers and customers, changes in demand
for products, the timing and amount or cancellation of orders and other risks
detailed from time to time in our filings with the Securities Exchange
Commission, including our Form 20-FAnnual Report. These documents contain and
identify other important factors that could cause actual results to differ
materially from those contained in our projections or forward-looking
statements. Stockholders and other readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date on
which they are made. We undertake no obligation to update publicly or revise any
forward-looking statement.
-0-
Attunity Ltd.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATION
(in thousands of US Dollars)
Three Months Ended Six Months
June 30, Ended June 30,
2003 2002(a) 2003(a) 2002(a)
Revenues
Licenses $1,691 $1,763 $3,197 $3,656
Maintenance 1,520 1,460 3,051 2,765
Services 1,122 1,098 2,287 2,108
4,333 4,321 8,535 8,529
Cost of revenues
Licenses 480 420 944 831
Maintenance 132 193 261 380
Services 843 895 1,703 1,712
1,455 1,508 2,908 2,923
Gross profit 2,878 2,813 5,627 5,606
Operating expenses
Selling and marketing 1,718 1,309 3,299 2,582
General and administrative 500 538 970 1,102
Research and development, net 551 517 1,113 1,064
Non-recurring expenses 410 - 410 -
3,179 2,364 5,792 4,748
Operating income (loss) (301) 449 (165) 858
Financial income - net 98 22 147 19
Income (loss) before taxes (203) 471 (18) 877
Income taxes 9 34 39 35
Net income (loss) (212) $437 (57) 842
Basic and diluted net income
(loss) per share ($0.01) $0.03 ($0.00) $0.06
Number of shares used to
compute basic and diluted net
income (loss) per share 14,767 14,675 14,767 14,644
(a) Reclassified
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands of US Dollars)
June 30, December 31,
2003 2002
ASSETS
Current Assets
Cash and cash equivalents $4,376 $2,693
Short-term deposits 118 88
Marketable securities 210 -
Accounts receivable - net 3,667 3,377
Other receivables and prepaid expenses 1,049 1,233
Total current assets 9,420 7,391
Severance Pay Fund 1,539 1,189
Property and Equipment, net 899 1,145
Other assets, net 11,776 11,759
Total assets 23,634 $21,484
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands of US Dollars)
June 30, December 31,
2003 2002
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Short-term bank debt $243 $175
Current maturities of long-term debt 106 205
Trade payables 425 645
Deferred revenues 3,505 1,986
Accrued expenses and other
Liabilities 4,450 3,713
Total current liabilities 8,729 6,724
Long term liabilities
Long term debt 35 55
Accrued severance pay 1,868 1,625
Total long term liabilities 1,903 1,680
Shareholders equity
Share capital: Authorized 30,000,000
ordinary shares of NIS 0.1 par value
Issued and Outstanding:
14,767,432 shares at March 31, 2003
and December 31, 2002 525 525
Capital surplus 86,504 86,504
Accumulated deficit (73,398) (73,341)
Foreign currency translation adjustment (629) (608)
Total Shareholders' equity 13,002 13,080
Total liabilities and shareholders 23,634 $21,484
[GRAPHIC OMITTED]
Contact:
Attunity
Dan Potter, 781/213-5204
dan.potter@attunity.com
[GRAPHIC OMITTED]
Source: Attunity
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, thereunto duly authorized.
ATTUNITY LTD
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(Registrant)
By: /s/Arie Gonen
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Chairman
Date: July 29, 2003