Item 12. Results of Operations and Financial Condition.Attached and incorporated herein by reference and being furnished hereby as Exhibit 99.1 is a copy of a press release of Dendrite International, Inc. (“Dendrite”) dated August 12, 2003, reporting Dendrite’s financial results for the second quarter of 2003. The discussion of Dendrite’s historical results and outlook for future results include, and where indicated exclude, the impact of items related to Dendrite’s June 16, 2003 acquisition of Synavant, Inc. (“Synavant”). These items primarily relate to operational earnings, revenue and other financial and operational contributions from Synavant, foreign tax valuation adjustments, and other acquisition-related items in connection with the Synavant acquisition, as well as amortization of definite lived intangibles arising from Dendrite’s Synavant and SAI acquisitions. Such information is supplemental to information presented in accordance with generally accepted accounting principles (GAAP) and is not intended to represent a presentation in accordance with GAAP. Acquisition-related items include the impact of the Synavant operating results during the quarter, the amortization of definite lived intangibles for both the Synavant and SAI acquisitions, Synavant integration-related costs, as well as the foreign tax valuation adjustment. Dendrite believes that by excluding the impact of these acquisition-related items, it provides investors with a better view of the historic operating performance of Dendrite’s business. |
