--------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K/A
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 2004
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-_______________
This Form 6-K/A is being incorporated by reference into the Company's
Form F-3 Registration Statements File Nos. 333-11972, 333-12450 and 333-14140,
and amends the Form 6-K originally submitted on July 30, 2004.
--------------------------------------------------------------------------------
ATTUNITY LTD
6-K/A Items
1. Revision to Press Release issued by Attunity Ltd on July 28, 2004 re
Attunity Reports 2004 Second Quarter Results
Item 1
Revision to Press Release issued by Attunity Ltd on July 28, 2004 re. Attunity
Reports 2004 Second Quarter Results
Total revenues for the second quarter 2004 were $5,180,000, an increase of 19.5%
from $ 4,333,000 in the second quarter of 2003 and an increase of 24% from
$4,173,000 in the first quarter of 2004. Gross profit for the second quarter
2004 was $3,225,000, compared with $2,629,000 in the second quarter of 2003. Net
income was $3,000 or $0.00 per share in the second quarter of 2004 compared with
a net loss of ($212,000) or ($0.01) per share in the second quarter of 2003 and
a net loss of ($257,000) or ($0.02) in the first quarter of 2004.
Total revenues in the first six months of 2004 increased 9.6% to $9,353,000 from
$8,535,000 for the same period in the prior year. Gross profit in the first six
months of 2004 was $5,532,000 compared with gross profit of $5,103,000 for the
same period in 2003. Net loss in the first six months of 2004 was $254,000 or
($0.02) per share, compared with a net loss of ($57,000) or ($0.00) per share in
the first six months of 2003.
This past quarter, Attunity further strengthened its financial position through
the sale of a $2 million convertible debenture to an investment group headed by
Shimon Alon, Aki Ratner, Ron Zuckerman, and GF Capital. Attunity also obtained a
$3 million line of credit from Plenus Technologies Ltd.
"This quarter we achieved record revenues. We are particularly encouraged by the
significant increase in license revenue, which is largely the result of our
expanded efforts to address the business intelligence markets," said Arie Gonen,
CEO of Attunity. "Attunity has also been recognized by industry analysts as a
leader in the emerging EII (Enterprise Information Integration) market. As these
data integration markets converge, Attunity is uniquely qualified to provide
comprehensive data access, federation and real-time change data capture. We will
further extend our leadership next quarter as we announce new customers and
partnerships in these markets."
Highlights of Attunity's Second Quarter 2004
Customer Wins
Attunity has been selected as part of a major healthcare application deployment
through one of its channel partners. Attunity is being utilized to provide
enterprise information integration for real-time business intelligence. As a
result of this new contract, Attunity recognized $995,000 of license revenue in
the quarter ended June 30, 2004.
During the second quarter, Attunity also closed new and follow-on business with
customers such as AK Steel, Allegheny Ludlum, Cass Information Services, Data
Systems and Solutions, Eastern Arizona College, Emerson College, Iowa Health
System, Kanebridge Corporation, Nacan Products Limited, National Oil, North
Carolina Baptist Hospitals, NYPD, RBC Dominion Securities, Rector & Visitors of
Univ. of VA, South Broward Memorial Healthcare, and USS-POSCO Industries.
New Product Offerings
During the second quarter, Attunity expanded its product lines to provide
offerings for data access, federation and change capture:
o Attunity Federate is an enterprise information integration (EII)
solution that provides unmatched performance through its distributed
architecture and native execution
o Attunity Stream is a change data capture solution that minimizes impact
on operational systems through non-invasive and real-time monitoring of
data sources
o Attunity Connect is a family of pre-built, standards-based adapters that
provides unmatched performance and reliability
Effect of CEO resignation
Subject to shareholders approval of the termination agreement with the company's
CEO, at a shareholders meeting expected to be held in September 2004, the
company will take a charge of approximately $845,000 in the third quarter of
2004 related to the resignation of its CEO.
Attunity Conference Call
The company has scheduled a conference call and simultaneous web-cast today,
July 28, at 10:00 am EDT. To participate in the call North American callers can
dial 800-510-0146 and international callers can dial +1-617-614-3449 five to ten
minutes prior to the scheduled start time and entering the PIN # 38565497. The
call will be available for replay through August 2, 2004 by dialing 888-286-8010
(in North America) and +1-617-801-6888 and entering the PIN # 94378251.
About Attunity Ltd.
Attunity is a leading provider of enterprise data integration software. Using
Attunity's products, companies can seamlessly connect to data sources, stream
data changes across the enterprise, and federate heterogeneous information to
achieve a single view of their business. Employing a unique distributed
architecture, Attunity software runs natively on enterprise data servers,
turning locked data silos into an efficient Information Grid. The result is
significantly enhanced performance and reduced cost of ownership.
More then a 1000 customers are using Attunity software world-wide for data
integration initiatives such as service-oriented integration to the mainframe as
part of EAI projects, legacy data access for business intelligence and
reporting, real-time and efficient ETL based on change data capture, and single
customer views from disparate information sources. Also, Attunity is a trusted
partner for industry leaders like Oracle and HP who embed Attunity software into
their products and solution offerings.
Safe Harbor Statement
Certain statements in this press release are forward-looking statements. Because
such statements deal with future events, they are subject to various risks and
uncertainties and actual results could differ materially from Attunity current
expectations. Factors that could cause or contribute to such differences
include, but are not limited to: the impact on revenues of economic and
political uncertainties and weaknesses in various regions of the world,
including the commencement or escalation of hostilities or acts of terrorism;
any unforeseen developmental or technological difficulties with regard to
Attunity's products; changes in the competitive landscape, including new
competitors or the impact of competitive pricing and products; a shift in demand
for products such as Attunity's; unknown factors affecting third parties with
which Attunity has formed business alliances; timely availability and customer
acceptance of Attunity's new and existing products, and other factors and risks
discussed in Attunity's Report on Form 20-F for the year ended December 31,
2003, which is on file with the Securities and Exchange Commission. Attunity
assumes no obligation to update information concerning its expectations.
ATTUNITY Ltd
UNAUDITED CONSOLIDATED BALANCE SHEETS
(in thousands)
June 30 December 31
2004 2003
--------------- ----------------
ASSETS
Current Assets
Cash and Cash Equivalents $4,021 $2,073
Restricted Cash 70 902
Short-Term Deposits 132 120
Marketable Securities 95 200
Trade Receivables, net 3,958 2,845
Other Receivables 1,022 1,006
--------------- ----------------
Total Current Assets 9,298 7,146
--------------- ----------------
SEVERANCE PAY FUND 1,604 1,592
--------------- ----------------
PROPERTY, PLANT and EQUIPMENT, net 947 926
--------------- ----------------
OTHER ASSETS, net 10,670 10,548
--------------- ----------------
$22,519 $20,212
--------------- ----------------
LIABILITIES AND SHAREHOLDER EQUITY
CURRENT LIABILITIES
Short-Term Bank Debt $- $206
Current Maturities of Long-
Term Loans 50 102
Trade Payables 589 583
Deferred Revenues 3,686 2,090
Employee and Payroll Accruals 1,241 1,239
Accrued Expenses and other
Liabilities 1,572 3,479
--------------- ----------------
Total Current Liabilities 7,138 7,699
--------------- ----------------
LONG-TERM LIABILITIES
Long-Term Debt 200 99
Accrued Severance Pay 2,058 1,941
--------------- ----------------
Total Long-Term Liabilities 2,258 2,040
--------------- ----------------
SHAREHOLDERS' EQUITY
Share Capital 536 525
Additional Paid-In Capital 89,458 86,504
Accumulated Other
Comprehensive Loss (320) (259)
Accumulated Deficit (76,551) (76,297)
--------------- ----------------
Total Shareholder's Equity 13,123 10,473
--------------- ----------------
$22,519 $20,212
--------------- ----------------
ATTUNITY Ltd
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per-share amounts)
Three Months Six Months
ended June 30 ended June 30
2004 (a)2003 2004 (a)2003
------- ------- ------- -------
REVENUES
Products $2,574 $1,691 $4,190 $3,197
Maintenance 1,416 1,520 2,828 3,051
Services 1,190 1,122 2,335 2,287
------- ------- ------- -------
5,180 4,333 9,353 8,535
------- ------- ------- -------
COST OF REVENUES
Products 587 480 1,120 944
Maintenance 258 188 485 377
Services 1,110 1,035 2,216 2,111
------- ------- ------- -------
1,955 1,703 3,821 3,432
------- ------- ------- -------
GROSS PROFIT 3,225 2,630 5,532 5,103
OPERATING EXPENSES
Research & Development, net 353 385 676 716
Selling & Marketing 2,031 1,537 3,642 2,937
General & Administrative 683 599 1,287 1,205
Costs in respect of lawsuits - 410 - 410
------- ------- ------- -------
3,067 2,931 5,605 5,268
------- ------- ------- -------
Operating loss 158 (301) (73) (165)
Financial Income (loss), net (117) 98 (126) 147
------- ------- ------- -------
Loss before Income Taxes 41 (203) (199) (18)
Taxes on Income (38) (9) (55) (39)
------- ------- ------- -------
------- ------- ------- -------
Net income (loss) $3 $(212) $(254) $(57)
------- ------- ------- -------
Basic income (loss) per Share $0.00 $(0.01) $(0.02) $(0.00)
Number of Shares Used in computing
per share amounts 15,165 14,767 15,002 14,767
(a) Reclassified
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
------------
(Registrant)
By: /s/Ofer Segev
-------------
Ofer Segev
Chief Financial Officer
Date: November 17, 2004