-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950136-04-000703.txt : 20040311
<SEC-HEADER>0000950136-04-000703.hdr.sgml : 20040311
<ACCEPTANCE-DATETIME>20040311150057
ACCESSION NUMBER:		0000950136-04-000703
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040310
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20040311

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLARUS CORP
		CENTRAL INDEX KEY:			0000913277
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				581972600
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24277
		FILM NUMBER:		04662781

	BUSINESS ADDRESS:	
		STREET 1:		3970 JOHNS CREEK CT
		STREET 2:		STE 100
		CITY:			SUWANEE
		STATE:			GA
		ZIP:			30024
		BUSINESS PHONE:		7702913900

	MAIL ADDRESS:	
		STREET 1:		3970 JOHNS CREEK CT
		STREET 2:		STE 100
		CITY:			SUWANEE
		STATE:			GA
		ZIP:			30024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SQL FINANCIALS INTERNATIONAL INC /DE/
		DATE OF NAME CHANGE:	19980911
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>file001.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>



                       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) March 10, 2004
                                                          --------------

                               Clarus Corporation
                               ------------------
             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
<S>                                                <C>                                          <C>
        Delaware                                   0-24277                                      58-1972600
- ------------------------------------------------------------------------------------------------------------------
(State or other jurisdiction                 (Commission File Number)            (IRS Employer Identification No.)
of incorporation)

       One Pickwick Plaza, Greenwich, Connecticut                                     06830
- -------------------------------------------------------------------------------------------
         (Address of principal executive offices)                                 (Zip Code)
</TABLE>

Registrant's telephone number, including area code: (203) 302-2000
                                                    --------------


                                       N/A
                                       ---
         (Former name or former address, if changed since last report.)


<PAGE>


Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (c)      Exhibits.

         The following Exhibits are hereby filed as part of this Current Report
on Form 8-K:

         Exhibit 99.1   Press Release dated March 10, 2004 with respect to the
                        Registrant's financial results for the full year and
                        fourth quarter ended December 31, 2003.

Item 9.  Regulation FD Disclosure

         The information included in this section is intended to be furnished
under "Item 12. Disclosure of Results of Operations and Financial Condition" and
is included under this Item 9 in accordance with SEC Release No. 33-8216. The
information in this Form 8-K and the Exhibit attached hereto shall not be deemed
"filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, except as shall be expressly set forth by specific reference in such
filing.

         On March 10, 2004, The Registrant announced financial results for the
full year and fourth quarter ended December 31, 2003. A copy of the press
release announcing the Registrant's earnings results for the full year and
fourth quarter ended December 31, 2003 is attached hereto as Exhibit 99.1.



<PAGE>


                                   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.

Dated: March 11, 2004

CLARUS CORPORATION

By:  /s/ Nigel P. Ekern
     ------------------
         Nigel P. Ekern,
         Chief Administrative Officer



By:  /s/ Susan Luckfield
     ------------------
         Susan Luckfield,
         Controller





<PAGE>


                                  EXHIBIT INDEX

                 Exhibit 99.1 Press Release dated March 10, 2004




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>file002.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>



FOR IMMEDIATE RELEASE


CONTACT
Nigel Ekern
Chief Administrative Officer
Clarus Corporation
(203) 302-2000
nekern@claruscorp.com

                          CLARUS ANNOUNCES 2003 RESULTS

GREENWICH, CONNECTICUT--MARCH 10, 2004-- Clarus Corporation (Nasdaq: CLRS) today
announced financial results for the quarter and fiscal year ended December 31,
2003. Clarus reported revenues of $27,000 for the fourth quarter of 2003 and
$130,000 for the fiscal year ended December 31, 2003 from the recognition of
deferred software service fees, compared to $1.0 million and $9.0 million during
the comparable periods of 2002. Net loss for the fourth quarter of 2003 was
$205,000 or $0.01 per diluted share compared to a net loss of $6.8 million or
$0.43 per diluted share during the comparable period of 2002. Net loss for the
fiscal year ended December 31, 2003 was $4.3 million or $0.27 per diluted share
compared to a net loss of $37.8 million or $2.42 per diluted share during the
comparable period of 2002. As of December 31, 2003, Clarus' cash, cash
equivalents and marketable securities were $88.7 million (or $5.34 gross cash
per share(1)) compared to $95.1 million as of December 31, 2002. Clarus
currently has available approximately $134.0 million of net operating losses,
capital losses and other U.S. and foreign tax credit carryforwards to offset
taxable income that Clarus may recognize in the future, subject to limitations
of applicable tax laws.

Nigel Ekern, Clarus' Chief Administrative Officer stated, "We continue our
efforts to identify and evaluate suitable acquisition and merger opportunities
as part of our strategy to redeploy our cash and utilize our NOL's, to the
extent available. Separately, we are pleased with the progress we have made so
far in controlling Clarus' cash expenditure rate and managing administrative and
professional expenses."

Clarus does not currently intend to hold conference calls to discuss quarterly
earnings releases unless and until the Company consummates an acquisition in
connection with its redeployment strategy. At such time, the Company plans to
resume holding quarterly conference calls to review earnings and Clarus'
operating performance.

Clarus, formerly a provider of e-commerce business solutions, is seeking to
redeploy its assets and use its substantial cash and cash equivalent assets to
enhance stockholder value.

- --------------

(1) Gross cash per share at December 31, 2003 equals cash, cash equivalents and
marketable securities of $88.7 million divided by 16.6 million common shares
outstanding. The Company has provided this Non-GAAP measure because it believes
that it is useful to investors assessing the extent of the Company's assets
available for redeployment. The Company is not aware of any comparable GAAP
measure.

This press release contains forward-looking statements within the meaning of the
Securities Act of 1933 and the Exchange Act of 1934. Information in this release
includes Clarus' beliefs, expectations, intentions and strategies regarding
Clarus, its future and its products and services. Assumptions relating to the
forward-looking statements involve judgments with respect to, among other
things, future economic, competitive and market conditions and future business
decisions, all of which are difficult or impossible to predict accurately and
many of which are beyond our control. Actual results could differ materially
from those projected in the forward-looking statements as a result of certain
risks including our inability to execute successfully our planned effort to
redeploy our assets to enhance stockholder value, the unavailability of our net
operating loss carry forward, and that the unaudited financial information
provided in this press release may be adjusted as a result of the year end
audit. Clarus cannot guarantee its future performance. All forward-looking
statements contained in this release are based on information available to
Clarus as of the date of this release and Clarus assumes no obligation to update
the forward-looking statement contained herein.

For further information regarding the risks and uncertainties in connection with
Clarus' business, please refer to the "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Factors That May Affect Our
Future Results" sections of Clarus' filings with the Securities and Exchange
Commission, including but not limited to, its most recent annual report on Form
10-K and quarterly reports on Form 10-Q, copies of which may be obtained at the
SEC's web site at http://www.sec.gov.


<PAGE>







                               CLARUS CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                           DECEMBER 31, 2003 AND 2002
               (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)



                                              ASSETS

<TABLE>
<CAPTION>
                                                                                                       2003             2002
                                                                                                       ----             ----
CURRENT ASSETS:
<S>                                                                                                 <C>              <C>
    Cash and cash equivalents...................................................................    $ 15,045         $ 42,225
    Marketable securities.......................................................................      73,685           52,885
    Accounts receivable, less allowance for doubtful accounts of $0 and $586 in
       2003 and 2002, respectively..............................................................          --              467
    Interest receivable.........................................................................         507              573
    Prepaids and other current assets...........................................................         132              689
    Assets held for sale........................................................................          --               48
                                                                                                    --------         --------
       Total current assets.....................................................................      89,369           96,887
                                                                                                    --------         --------

PROPERTY AND EQUIPMENT, NET ....................................................................          38              809
                                                                                                    --------         --------

OTHER ASSETS:

    Deposits and other long-term assets ........................................................          38               68
                                                                                                    --------         --------
       Total assets.............................................................................    $ 89,445         $ 97,764
                                                                                                    ========         ========


                               LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
    Accounts payable and accrued liabilities....................................................     $ 1,520          $ 1,936
    Deferred revenue............................................................................       1,106            1,248
    Current portion of long-term debt...........................................................          --            5,000
    Liabilities to be assumed related to assets held for sale...................................          --              220
                                                                                                    --------         --------

       Total current liabilities................................................................       2,626            8,404
                                                                                                    --------         --------

       Total liabilities........................................................................       2,626            8,404
                                                                                                    --------         --------

STOCKHOLDERS' EQUITY:
    Preferred stock, $.0001 par value; 5,000,000 shares authorized; none issued.................          --               --
    Common stock, $.0001 par value; 100,000,000 shares authorized;
         16,649,048 and 15,762,707 shares issued and 16,574,048 and 15,687,707 outstanding in
         2003 and 2002, respectively.............................................................          2                2
    Additional paid-in capital..................................................................     367,031          361,715
    Accumulated deficit.........................................................................    (276,767)        (272,436)
    Less treasury stock, 75,000 shares at cost..................................................          (2)              (2)
    Accumulated other comprehensive income (loss)...............................................         (17)             146
    Deferred compensation.......................................................................      (3,428)             (65)
                                                                                                    --------         --------

       Total stockholders' equity...............................................................      86,819           89,360
                                                                                                    --------         --------

       Total liabilities and stockholders' equity...............................................    $ 89,445         $ 97,764
                                                                                                    ========         ========
</TABLE>



<PAGE>


                               CLARUS CORPORATION
                      CONSOLIDATED STATEMENTS OF OPERATIONS
               (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)

<TABLE>
<CAPTION>
                                                                             THREE MONTHS                 YEARS ENDED
                                                                          ENDED DECEMBER 31,              DECEMBER 31,
                                                                     --------------------------     -------------------------
                                                                       2003            2002            2003           2002
                                                                       ----            ----            ----           ----
REVENUES:
<S>                                                                   <C>            <C>             <C>           <C>
 License fees......................................................   $    --        $     159       $     --      $   2,808
 Services fees.....................................................        27              874            130          6,226
                                                                     --------------------------     -------------------------
  Total revenues...................................................        27            1,033            130          9,034

COST OF REVENUES:
 License fees......................................................        --                5             --             26
 Services fees.....................................................        --              689             --          5,498
                                                                     --------------------------     -------------------------
  Total cost of revenues...........................................        --              694             --          5,524

OPERATING EXPENSES:
 Research and development..........................................        --              826             --          7,263
 Sales and marketing...............................................        --              239             --          7,938
 General and administrative........................................       725            4,601          4,986         12,574
 Provision for doubtful accounts ..................................        --             (263)            18           (560)
 Loss on impairment of goodwill and intangible assets..............        --               --             --         10,360
 Loss on sale or disposal of assets................................        36            1,748             36          1,748
 Depreciation and amortization.....................................        --              384            762          4,243
                                                                     --------------------------     -------------------------
  Total operating expenses.........................................       761            7,535          5,802         43,566

OPERATING LOSS.....................................................      (734)          (7,196)        (5,672)       (40,056)
OTHER INCOME.......................................................       267                1            169             27
INTEREST INCOME....................................................       262              455          1,238          2,441
INTEREST EXPENSE...................................................        --              (56)           (66)          (225)
                                                                     --------------------------     -------------------------
 NET LOSS..........................................................   $  (205)       $  (6,796)      $ (4,331)     $ (37,813)
                                                                     ==========================     =========================

 Net loss per common share:
  Basic............................................................   $ (0.01)       $   (0.43)      $  (0.27)     $   (2.42)
  Diluted..........................................................   $ (0.01)       $   (0.43)      $  (0.27)     $   (2.42)

 Weighted average shares outstanding:
  Basic............................................................    16,021           15,630         15,905         15,615
  Diluted..........................................................    16,021           15,630         15,905         15,615
</TABLE>




<PAGE>


                               CLARUS CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                     YEARS ENDED DECEMBER 31, 2003 AND 2002
                      (IN THOUSANDS, EXCEPT SHARE AMOUNTS)



<TABLE>
<CAPTION>
                                                                                          2003            2002
                                                                                          ----            ----
OPERATING ACTIVITIES:
<S>                                                                                    <C>              <C>
Net loss.............................................................................  $  (4,331)      $ (37,813)
Adjustments to reconcile net loss to net cash used in operating activities:..........
  Depreciation and amortization of property and equipment............................        762           3,788
  Amortization of intangible assets..................................................         --             455
  Loss on impairment of intangible assets............................................         --          10,360
  Gain on sale of marketable securities and other....................................         --             (15)
  Provision for doubtful accounts....................................................         18            (560)
  Noncash sales and marketing expense................................................         --             450
  Noncash charge due to modification of stock options................................         --             500
  Amortization of deferred employee compensation plans...............................        287              --
  Gain on sale of e-commerce assets to Epicor........................................         --            (514)
  Loss on sale or disposal of property and equipment.................................         36           2,262
  Changes in operating assets and liabilities:
    Accounts receivable..............................................................        449           2,618
    Interest receivable, prepaids and other current assets..........................         623           1,203
    Assets held for sale.............................................................         48              --
    Deposits and other long-term assets..............................................         30             420
    Accounts payable and accrued liabilities.........................................       (416)         (4,539)
    Deferred revenue.................................................................       (142)         (5,738)
    Liabilities to be assumed........................................................       (220)             --
    Other long-term liabilities......................................................         --            (265)
                                                                                       ---------       ---------
     Net cash (used in) operating activities.........................................     (2,856)        (27,388)
                                                                                       ---------       ---------
INVESTING ACTIVITIES:
  Purchase of marketable securities..................................................   (117,881)       (123,611)
  Proceeds from the sale and maturity of marketable securities.......................     96,918         135,860
  Purchase of property and equipment.................................................        (38)           (182)
  Proceeds from sale of investment...................................................         --             200
  Proceeds from sale of assets.......................................................         --           1,000
  Proceeds from sale of property and equipment.......................................         11             189
                                                                                       ---------       ---------
     Net cash provided by (used in) investing activities.............................    (20,990)         13,456

FINANCING ACTIVITIES:
  Proceeds from the exercise of stock options........................................      1,656             400
  Proceeds from issuance of common stock related to employee stock
        purchase plans...............................................................         10             119
  Repayment of long-term debt........................................................     (5,000)             --
                                                                                       ---------       ---------
     Net cash provided by (used in) financing activities.............................     (3,334)            519
                                                                                       ---------       ---------

Effect of exchange rate change on cash...............................................         --              10
CHANGE IN CASH AND CASH EQUIVALENTS..................................................    (27,180)        (13,403)
CASH AND CASH EQUIVALENTS, beginning of year.........................................     42,225          55,628
                                                                                       ---------       ---------
CASH AND CASH EQUIVALENTS, end of year...............................................  $  15,045       $  42,225
                                                                                       =========       =========

SUPPLEMENTAL CASH FLOW DISCLOSURE:
Cash paid for interest...............................................................  $      --       $     225
                                                                                       =========       =========

NONCASH TRANSACTIONS:
Retirement of 7,500 shares related to the termination of a sales and
  marketing agreement................................................................  $      --       $      39

Grant of Restricted Stock............................................................  $   2,680       $      --
</TABLE>





</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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