SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 24, 2003
LIGHTBRIDGE, INC.
(Exact Name of Registrant as Specified in Charter)
DELAWARE 000-21319 04-3065140
(State or Other Jurisdic- (Commission (IRS Employer
tion of Incorporation) File Number) Identification No.)
67 SOUTH BEDFORD STREET, BURLINGTON, MASSACHUSETTS 01803
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (781) 359-4000
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS.
The Company announced an amendment to its Stock Repurchase Program
approved in September 2001. The expanded program is valid for two more years
until September 2005 and authorizes the purchase of up to an additional 2
million shares of the Company's common stock in addition to the approximately
600,000 shares left to be purchased under the original Stock Repurchase Program.
As of March 31, 2003, Lightbridge repurchased approximately 1.4 million shares
of its common stock under the original Stock Repurchase Program.
In addition, the Company announced that Dorothy Terrell, a Venture Partner
with First Light Capital, joined the Board of Directors and will serve as a
member of the Compensation Committee.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits.
99.1 Press Release dated April 24, 2003, entitled "Lightbridge Reports
First Quarter Financial Results."
99.2 Press Release dated April 24, 2003, entitled "Lightbridge Appoints
Dorothy Terrell to Board of Directors."
ITEM 9. REGULATION FD DISCLOSURE PROVIDED UNDER ITEM 12
In accordance with SEC Release No. 33-8216, the following information,
required to be furnished under Item 12 "Results of Operations and Financial
Condition," is instead furnished under Item 9 "Regulation FD Disclosure" and is
incorporated by reference herein. This information is being furnished, not
filed, pursuant to Item 12. Accordingly, this information will not be
incorporated by reference into any registration statement filed by Lightbridge,
Inc. under the Securities Act of 1933, as amended, unless specifically
identified therein as being incorporated therein by reference. The furnishing
of the information in this report is not intended to, and does not, constitute
a determination or admission by Lightbridge, Inc. that the information in this
report is material or complete, or that investors should consider this
information before making an investment decision with respect to any security
of Lightbridge, Inc. or any of its affiliates.
On April 24, 2003, Lightbridge, Inc., a Delaware corporation
("Lightbridge" or the "Company"), announced its results of operations for the
quarter ended March 31, 2003. Revenues of $28.4 million were down sequentially
from $30.6 million in the fourth quarter of 2002 and from $37.9 million in the
first quarter of 2002. The Company reported a net loss of $357,000, or ($0.01)
per share, versus net income of $2.8 million, or $0.10 per share, in the first
quarter of 2002. The Company also estimated that revenue will be in the range of
$27.0 - $29.0 million in the second quarter of 2003 and earnings per share in
the range of ($0.03) - ($0.05).
A copy of the press releases issued by Lightbridge on April 24, 2003,
which commented on the actions described above, are included as Exhibits 99.1
and 99.2 to this Current Report on Form 8-K and are incorporated by reference
herein.
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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.
LIGHTBRIDGE, INC.
By: /s/ Harlan Plumley
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Harlan Plumley
Vice President, Finance and Administration,
Chief Financial Officer and Treasurer
April 29, 2003