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): April 7, 2003
KRONOS INCORPORATED
(Exact name of registrant as specified in its charter)
0-20109
(Commission file number)
Massachusetts 04-2640942
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
297 Billerica Road
Chelmsford, MA 01824
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (978) 250-9800
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
Exhibit No. Description
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99.1 Press release of Kronos Incorporated dated
April 7, 2003
ITEM 9. REGULATION FD DISCLOSURE
In accordance with SEC Release No. 33-8216, the following information,
which is intended to be furnished under "Item 12. Results of Operations and
Financial Condition," is instead being furnished under "Item 9. Regulation FD
Disclosure." The following information shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or incorporated by reference in any filing under the Securities Act of
1933, as amended, or the Exchange Act, except as shall be expressly set forth by
specific reference in such a filing.
On April 7, 2003, Kronos Incorporated issued a press release confirming
second-quarter revenue and earnings estimates for the fiscal quarter ended March
29, 2003. A copy of the press release is attached as Exhibit 99.1 hereto and
incorporated herein by reference.
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.
Date: April 8, 2003
KRONOS INCORPORATED
By: /s/ Paul A. Lacy
----------------------------------------
Paul A. Lacy
Executive Vice President, Chief Financial
and Administrative Officer
(Duly Authorized Officer and Principal
Financial Officer)
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
99.1 Press release of Kronos Incorporated dated April 7, 2003
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Exhibit 99.1
Kronos(R) Confirms Second-Quarter Revenue and Earnings Estimates and Announces
Release Date of April 24
CHELMSFORD, Mass., April 7, 2003 - Kronos(R) Incorporated (Nasdaq: KRON) today
announced that it expects revenues and earnings for its fiscal second quarter
ended March 28, 2003 to be at the high end of the guidance that Kronos offered
in January. Kronos is making the announcement in anticipation of an April 9
presentation by Chief Executive Officer Mark S. Ain and Chief Financial Officer
Paul Lacy at Sidoti & Company's Seventh Annual Emerging Growth Institutional
Forum, being held April 9-10 in New York.
"Preliminary results indicate that we had a very good quarter," said Mark S.
Ain, Kronos' chief executive officer. "We experienced a strong mix of all
products in all markets despite the difficult economic climate. Similar to the
dynamics of our first quarter, we believe we are able to sustain momentum
because our products deliver a rapid return on investment and directly improve
the bottom line."
Kronos will release its second quarter Fiscal 2003 results on Thursday, April
24, 2003, and will review the results during a conference call on the same day,
at 4:30 p.m. Eastern. A Webcast of the conference call will be available to all
interested parties on the Kronos Web site located at www.kronos.com under the
Investor Relations section.
Kronos' presentation from the Sidoti conference will be made available the
afternoon of April 9 on the Investor Relations section of Kronos' Web site at
www.kronos.com.
About Kronos Incorporated
Kronos Incorporated is a single-source provider of integrated human resources,
payroll and labor management solutions. Kronos products and services help
organizations align their people, processes and technology to improve individual
productivity and boost overall business performance. Capitalizing on deep-rooted
expertise honed over 25 years, Kronos empowers more than 40,000 organizations
worldwide to better manage their workforce. Learn more at www.kronos.com.
Safe Harbor Statement
This press release contains forward-looking statements that involve a number of
risks and uncertainties, including the performance estimates and statements
relating to earnings and revenue growth and the market acceptance of our new
products, our ability to monitor and manage discretionary costs, and potential
acquisitions. Among the important factors that could cause actual operating
results to differ materially from those indicated by such forward-looking
statements are delays in product development, including enhancements to existing
products, product performance issues, competitive pressures, general economic
conditions and the risk factors detailed in the Company's periodic reports and
registration statements filed with the Securities and Exchange Commission. The
timing of the release of new products or product enhancements will take place if
and when available and at the sole discretion of Kronos.
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(C) 2003 Kronos Incorporated. Kronos and the Kronos logo are registered
trademarks of Kronos Incorporated or a related company. All other product and
company names mentioned are used for identification purposes only and may be
trademarks of their respective owners.
Contact: Michele Glorie
Kronos Incorporated
(978) 947-2855
mglorie@kronos.com