SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the Month of April 2003
GENESYS S.A.
(Exact name of registrant as specified in its charter)
L'Acropole, 954-980 avenue Jean Mermoz, 34000 Montpellier, FRANCE
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover 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-_______________.
[GENESYS CONFERENCING LOGO]
Genesys Conferencing Confirms 2002 EBITDA
Within Previously Announced Range
- Goodwill Impairment To Be Recognized In Fourth Quarter
2002
- 2002 results web conference
Montpellier, France - April 17, 2003 -- Genesys Conferencing (Euronext: 3955)
(Nasdaq: GNSY), the world's leading conferencing specialist, today confirmed
that it expects 2002 EBITDA to be within previously issued guidance. In
addition, the Company announced it is recording a reduction in the carrying
value of goodwill and intangibles in the fourth quarter 2002.
2002 Financial Results
Genesys expects to report fourth quarter and fiscal 2002 results on April 24,
2003. The Company expects EBITDA to be within previously issued guidance of
(euro) 30 million to (euro) 31 million (under French GAAP) for fiscal 2002,
excluding non-recurring charges.
Goodwill Impairment
The Company completed an analysis of the carrying value of its long-lived
assets, consisting primarily of goodwill related to previous acquisitions, and
will record a reduction in the carrying value of goodwill and intangibles of
approximately (euro) 60 million ((euro) 94 million under US GAAP) in the fourth
quarter 2002, as a result of this analysis. The reduction will have no effect on
operations.
Amended Credit Facility
As disclosed earlier this week in a separate press release, Genesys Conferencing
has reached a preliminary agreement regarding amendments to Genesys' $125
million credit facility, subject to documentation and other conditions. Such
agreement would extend the principal payment maturities under the credit
facility through 2008.
Francois Legros, Chairman and Chief Executive Officer, stated, "The amended
credit facility will significantly improve our financial liquidity over the next
several years and permit us to continue to execute our business strategy and
satisfy our customers' needs and requirements."
Michael Savage, Chief Financial Officer, commented, "Today's announcements will
allow us to significantly improve our balance sheet in a systematic way that
better aligns principal amortization with our funding and free cash flow
generating capabilities."
Legros concluded, "We believe the operational reorganization completed in 2002
and our ongoing strategy of reducing costs, coupled with our newly announced
financial reorganization, positions Genesys very strongly within the
conferencing industry. We are committed to delivering improvements in
profitability and shareholder value."
Conference Call and Webcast
Chairman and Chief Executive Officer Francois Legros and Executive Vice
President/Chief Financial Officer Michael E. Savage will host a conference call
on Thursday, April 24, 2003, at 5:30 p.m. Central European Time or 11:30 a.m.
Eastern Daylight Time regarding the 2002 earnings.
The conference call will be webcast live. The call may be accessed at
www.genesys.com. A replay of the call will be available at www.genesys.com.
Forward-Looking Statements
This release contains statements that constitute forward-looking statements
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements other than historical information or
statements of current condition. These statements appear in a number of places
in this release and include statements concerning the parties' intent, belief or
current expectations regarding future events and trends affecting the parties'
financial condition or results of operations. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, and actual
results may differ materially from those in the forward-looking statements as a
result of various factors. Some of these factors are described in the Form 20-F,
which was filed by Genesys with the Securities and Exchange Commission on June
12, 2002. Although management of the parties believe that their expectations
reflected in the forward-looking statements are reasonable based on information
currently available to them, they cannot assure you that the expectations will
prove to have been correct. Accordingly, you should not place undue reliance on
these forward-looking statements. In any event, these statements speak only as
of the date of this release. Except to the extent required by law, the parties
undertake no obligation to revise or update any of them to reflect events or
circumstances after the date of this release, or to reflect new information or
the occurrence of unanticipated events.
About Genesys Conferencing
Founded in 1986, Genesys Conferencing is a global communications specialist,
providing practical and innovative real-time collaborative and managed event
services to over 18,000 clients worldwide. Working in a rapidly growing market
and enjoying unique worldwide coverage as a result of its geographic expansion
policy, Genesys Conferencing has established its advanced technology in 19
countries throughout North America, Europe and Asia Pacific. Genesys
Conferencing's ordinary shares are listed on the Nouveau Marche in Paris
(Euronext: 3955), and its ADSs are listed on Nasdaq (Nasdaq: GNSY).
At Genesys Conferencing
Michael E. Savage
Executive Vice President and Chief Financial Officer
Phone: +33 4 99 13 27 66
mike.savage@genesys.com
Marine Pouvreau
Investor Relations
Phone: +33 4 99 13 25 17
marine.pouvreau@genesys.com
Tricia Heinrich
Public Relations
Phone: +1 415 608 6651
tricia.heinrich@genesys.com
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.
Dated: April 17, 2003
GENESYS SA
By: /s/ Francois Legros
---------------------------------------------
Name: Francois Legros
Title: Chairman and Chief Executive Officer