8-K 1 v69303e8-k.txt FORM 8-K 1 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: February 8, 2001 ARIS CORPORATION ------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) WASHINGTON 0-22649 91-1497147 ------------------------------- ------------------------ ---------------------------- (State or Other Jurisdiction of (Commission File Number) (IRS Employer Identification Incorporation) No.)

2229 - 112TH AVENUE N.E., BELLEVUE, WASHINGTON 98004 ------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (425) 372-2747 ------------------------------------------------------------- Registrant's telephone number, including area code NONE ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) 2 ITEM 5. OTHER EVENTS. Aris Corporation (the "Company" or "Aris") has sold warrants it held to purchase 3.5 million shares of Noetix Corporation ("Noetix") common stock. Noetix, a leading provider of data access management solutions, repurchased the warrants from Aris for $2.5 million in cash. Aris will retain 1 million shares of Noetix common stock. Noetix, formerly known as Aris Software Inc., was a wholly owned subsidiary of Aris until Aris sold a majority share of Noetix to a group of investors led by Paul Song, Aris' Chairman of the Board and former chief executive officer in the third quarter of 2000. SIGNATURE 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. ARIS CORPORATION By: /s/ Diane Gamache ----------------------- Diane Gamache, CPA Chief Financial Officer Dated: February 8, 2001

CONSOLIDATED PRO FORMA ARIS UK EDUCATION ADJUSTMENTS PRO FORMA ------------------------------------------------------------ Assets Current assets: Cash and cash equivalents ................ $ 12,509 $ (556) $ 6,625(1) $ 18,578 Accounts receivable, net ................. 20,778 (459) -- 20,319 Other current assets ..................... 10,720 (407) -- 10,313 ---------------------------------------------------------- Total current assets ................ 44,007 (1,422) 6,625 49,210 Property and equipment, net .............. 11,624 (2,128) -- 9,496 Intangible and other assets, net ......... 9,927 (1,038) 4,136(2) 13,025 ---------------------------------------------------------- Total assets ........................ $ 65,558 $ (4,588) $ 10,761 $ 71,731 ========================================================== Liabilities and Shareholders' Equity Current liabilities: Accounts payable ......................... $ 2,417 $ -- $ -- $ 2,417 Accrued liabilities ...................... 7,374 -- 1,910(3) 9,284 Deferred revenue ......................... 3,115 (1,015) -- 2,100 ---------------------------------------------------------- Total current liabilities ........... 12,906 (1,015) 1,910 13,801 Commitments and contingencies Shareholders' equity: Preferred stock, 5,000,000 shares authorized, none issued and outstanding .. Common stock, no par value; 100,000,000 shares authorized ............ Additional paid-in capital ............... 56,862 (24) -- 56,838 Retained earnings (accumulated deficit) .. (3,638) (3,549) 8,851 1,664 Accumulated other comprehensive loss ..... (572) -- -- (572) ---------------------------------------------------------- Total shareholders' equity .......... 52,652 (3,573) 8,851 57,930 ---------------------------------------------------------- Total liabilities and shareholders' equity .............. $ 65,558 $ (4,588) $ 10,761 $ 71,731 ==========================================================

CONSOLIDATED PRO FORMA ARIS UK EDUCATION US EDUCATION ADJUSTMENTS PRO FORMA ------------ ------------ ------------ ----------- --------- Revenue, net: Consulting ..................... $ 74,620 $ -- $ -- $ -- $ 74,620 Training ....................... 34,774 (16,826) (17,681) -- 267 Software ....................... 8,579 -- -- -- 8,579 --------- --------- --------- --------- --------- Total revenues ................. 117,973 (16,826) (17,681) -- 83,466 Cost of revenues Consulting ..................... 42,085 -- -- -- 42,085 Training ....................... 16,508 (7,523) (8,544) -- 441 Software ....................... 1,510 -- -- -- 1,510 --------- --------- --------- --------- --------- Total cost of revenues ......... 60,103 (7,523) (8,544) -- 44,036 Gross profit ....................... 57,870 (9,303) (9,137) -- 39,430 Selling, general and administrative expense ........................ 50,799 (9,317) (12,133) 1,221(4) 30,570 Amortization of intangible assets .. 2,007 (107) (383) -- 1,517 Acquisition expenses ............... 383 -- -- -- 383 Charges related to reorganization .. 6,600 (100) (6,500) -- -- --------- --------- --------- --------- --------- Total operating expenses ........... 59,789 (9,524) (19,016) 1,221 32,470 --------- --------- --------- --------- --------- Income (loss) from operations .. (1,919) 221 9,879 (1,221) 6,960 --------- --------- --------- --------- --------- Interest income .................... 892 -- (57) -- 835 Other income (expense), net ........ (173) -- (9) -- (182) Income (loss) before income tax ........................... (1,200) 221 9,813 (1,221) 7,613 Income tax expense (benefit) ....... 1,323 71 2,209 (458) 3,145 --------- --------- --------- --------- --------- Net income (loss) .............. $ (2,523) $ 150 $ 7,604 $ (763) $ 4,468 ========= ========= ========= ========= ========= Basic earnings (loss) per share .... $ (0.22) $ 0.39 ========= ========= Weighted-average number of common shares - Basic .......... 11,605 11,605 ========= ========= Diluted earnings (loss) per share .. $ (0.22) $ 0.38 ========= ========= Weighted-average number of common and potential common shares - Diluted ....... 11,605 11,889 ========= =========

CONSOLIDATED UK US PRO FORMA ARIS EDUCATION EDUCATION ADJUSTMENTS PRO FORMA ------------ --------- --------- ----------- --------- Revenue, net: Consulting ............................. $ 29,036 $ -- $ -- $ -- $ 29,036 Training ............................... 12,359 (7,007) (5,223) -- 129 Software ............................... 4,071 -- -- -- 4,071 -------- -------- -------- -------- -------- Total revenues ......................... 45,466 (7,007) (5,223) -- 33,236 Cost of revenues Consulting ............................. 19,683 -- -- -- 19,683 Training ............................... 5,985 (3,271) (2,623) -- 91 Software ............................... 679 -- -- -- 679 -------- -------- -------- -------- -------- Total cost of revenues ................. 26,347 (3,271) (2,623) -- 20,453 Gross profit .............................. 19,119 (3,736) (2,600) -- 12,783 Selling, general and administrative expense .................. 26,323 (3,832) (3,319) 221(4) 19,393 Amortization of intangible assets.......... 1,943 (41) (51) -- 1,851 Charges related to reorganization.......... 4,000 -- (4,000) -- -- -------- -------- -------- -------- -------- Total operating expenses .................. 32,266 (3,873) (7,370) 221 21,244 -------- -------- -------- -------- -------- Income (loss) from operations........... (13,147) 137 4,770 (221) (8,461) -------- -------- -------- -------- -------- Interest income ........................... 325 -- 46 -- 371 Other income (expense), net ............... 44 -- (1) -- 43 Income (loss) before income tax ........ (12,778) 137 4,815 (221) (8,047) Income tax expense (benefit)............... (3,707) 44 1,122 (81) (2,622) -------- -------- -------- -------- -------- Net income (loss) ...................... $ (9,071) $ 93 $ 3,693 $ (140) $ (5,425) ======== ======== ======== ======== ======== Basic earnings (loss) per share............ $ (0.71) $ (0.42) ======== ======== Weighted-average number of common shares - Basic .................. 12,820 12,820 ======== ======== Diluted earnings (loss) per share.......... $ (0.71) $ (0.42) ======== ======== Weighted-average number of common and potential common shares - Diluted............... 12,820 12,820 ======== ========

Exhibit Number Description -------------- ----------- 2.1 Asset Purchase Agreement dated August 10, 2000 by and among, Aris UK Limited, a Company incorporated in England and Wales, Gilat Communications Ltd., an Israeli corporation, John Bryce Training Ltd., an Israeli corporation, Winford Management Limited, a Company incorporated in England and Wales and John Bryce Training (Europe) B.V, a Dutch company. ( Incorporated by reference to Exhibit 99.1 to the Current Report on Form 8-K dated August 31, 2000 (SEC File Number 333-25409))

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