-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IrQCWH6TJzo+YAVkcypHRLxYCbnpwCGMB9Gncw6sHy9xcZALsyAUezcyYdxFET6G
 O61TZPY5zSXKrUfkhnoQqg==

<SEC-DOCUMENT>0001144204-05-007811.txt : 20050316
<SEC-HEADER>0001144204-05-007811.hdr.sgml : 20050316
<ACCEPTANCE-DATETIME>20050316155450
ACCESSION NUMBER:		0001144204-05-007811
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050315
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050316
DATE AS OF CHANGE:		20050316

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:		05685451

	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>v014339form8k.txt
<TEXT>

                       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 15, 2005
                                                          --------------

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

        Delaware                      0-24277                  58-1972600
- -------------------------------------------------------------------------------
(State or other jurisdiction   (Commission File Number)    (IRS Employer
            of incorporation)                               Identification No.)

One Landmark Square, 22nd Floor, Stamford Connecticut              06901
- -------------------------------------------------------------------------------
         (Address of principal executive offices)              (Zip Code)

Registrant's telephone number, including area code: (203) 428-2000
                                                    --------------

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

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


<PAGE>

Item 2.02    Results of Operations and Financial Condition

On March 15, 2005, the Registrant issued an earnings press release announcing
financial results for the quarter and fiscal year ended December 31, 2004. A
copy of the earnings press release is furnished as Exhibit 99.1 and incorporated
herein by reference.

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.

Item 9.01.    Financial Statements and Exhibits

(c) Exhibits.

   Exhibit           Description
   -------           -----------

      99.1  Press Release dated March 15, 2005, with respect to the Registrant's
            financial results for the quarter and fiscal year ended December 31,
            2004 (furnished only).


<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 16, 2005

CLARUS CORPORATION

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


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


<PAGE>

                                  EXHIBIT INDEX

    Number   Exhibit
    ------   -------

      99.1  Press Release dated March 15, 2005, with respect to the Registrant's
            financial results for the quarter and fiscal year ended December 31,
            2004 (furnished only).


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex_99-1.txt
<TEXT>
                                                                    EXHIBIT 99.1

FOR IMMEDIATE RELEASE

CONTACT
Nigel Ekern
Chief Administrative Officer
Clarus Corporation
(203) 428-2000
nekern@claruscorp.com

                          CLARUS ANNOUNCES 2004 RESULTS

STAMFORD,  CONNECTICUT -- MARCH 15, 2005 -- Clarus Corporation  (OTC:CLRS) today
announced  financial  results for the quarter and fiscal year ended December 31,
2004.  Clarus reported no revenues for the fourth quarter of 2004 and recognized
$1.1  million of  deferred  software  service  fees during the fiscal year ended
December 31, 2004,  compared to $27,000 and $0.1 million  during the  comparable
periods  of 2003.  Net loss for the fourth  quarter of 2004 was $0.9  million or
$0.06 per  diluted  share  compared  to a net loss of $0.2  million or $0.01 per
diluted share during the comparable period of 2003. Net loss for the fiscal year
ended  December 31, 2004 was $2.9 million or $0.18 per diluted share compared to
a net loss of $4.3  million or $0.27 per  diluted  share  during the  comparable
period of 2003.

As  of  December  31,  2004,  Clarus'  cash,  cash  equivalents  and  marketable
securities  were $83.5 million (or $5.00 gross cash per share) compared to $88.7
million as of  December  31,  2003.  Gross cash per share at  December  31, 2004
equals cash, cash equivalents and marketable securities of $83.5 million divided
by 16.7 million  common  shares  outstanding.  Clarus has provided this Non-GAAP
measure because it believes that it is useful to investors  assessing the extent
of  Clarus'  assets  available  for  redeployment.  Clarus  is not  aware of any
comparable GAAP measure.


Net operating loss  carryforwards  at December 31, 2004 increased  significantly
due to the write off for tax  purposes  of  significant  investments  in foreign
subsidiaries in Ireland and the United Kingdom, whose losses had previously been
reflected in our financial  statements for prior periods.  Clarus estimates that
it has available net operating loss, capital loss,  research and experimentation
credit and alternative minimum tax credit  carryforwards for U.S. federal income
tax purposes of approximately  $212.8 million,  $15.2 million,  $1.3 million and
$53,000,  respectively,  which expire in varying  amounts  beginning in the year
2009 to the extent not limited under Section 382 of the Internal Revenue Code.

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 in
managing  administrative  and  professional  expenses  in  connection  with  the
continued  administration  of the public  company as well as costs and  expenses
associated with identifying,  evaluating and negotiating potential  redeployment
transactions."

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.


<PAGE>

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.

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 statements 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 our
web   site   at   http://www.claruscorp.com   or   the   SEC's   web   site   at
http://www.sec.gov.


<PAGE>


                               CLARUS CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                           DECEMBER 31, 2004 AND 2003
               (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)



<TABLE>
<CAPTION>
                                              ASSETS
                                                                                                   2004         2003
                                                                                                ---------    ---------
CURRENT ASSETS:
<S>                                                                                             <C>          <C>
    CASH AND CASH EQUIVALENTS ...............................................................   $  48,377    $  15,045
    MARKETABLE SECURITIES ...................................................................      35,119       73,685
    INTEREST RECEIVABLE .....................................................................         350          507
    PREPAIDS AND OTHER CURRENT ASSETS .......................................................         182          132
                                                                                                ---------    ---------

       TOTAL CURRENT ASSETS .................................................................      84,028       89,369
                                                                                                ---------    ---------

PROPERTY AND EQUIPMENT, NET .................................................................       2,367           38
                                                                                                ---------    ---------

OTHER ASSETS:

    DEPOSITS AND OTHER LONG-TERM ASSETS .....................................................          42           38
                                                                                                ---------    ---------
       TOTAL ASSETS .........................................................................   $  86,437    $  89,445
                                                                                                =========    =========


                               LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
    ACCOUNTS PAYABLE AND ACCRUED LIABILITIES ................................................   $   1,468    $   1,520
    DEFERRED REVENUE ........................................................................        --          1,106
                                                                                                ---------    ---------
       TOTAL CURRENT LIABILITIES ............................................................       1,468        2,626
                                                                                                ---------    ---------
    DEFERRED RENT ...........................................................................         115         --
                                                                                                ---------    ---------
       TOTAL LIABILITIES ....................................................................       1,583        2,626
                                                                                                ---------    ---------
STOCKHOLDERS' EQUITY:
    PREFERRED STOCK, $.0001 PAR VALUE; 5,000,000 SHARES AUTHORIZED; NONE ISSUED .............          --           --
    COMMON STOCK, $.0001 PAR VALUE; 100,000,000 SHARES AUTHORIZED;
         16,734,947 AND 16,649,048 SHARES ISSUED AND 16,659,947 AND 16,574,048 OUTSTANDING IN
         2004 AND 2003, RESPECTIVELY ........................................................           2            2
    ADDITIONAL PAID-IN CAPITAL ..............................................................     368,385      367,031
    ACCUMULATED DEFICIT .....................................................................    (279,656)    (276,767)
    LESS TREASURY STOCK, 75,000 SHARES AT COST ..............................................          (2)          (2)
    ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ...........................................        (130)         (17)
    DEFERRED COMPENSATION ...................................................................      (3,745)      (3,428)
                                                                                                ---------    ---------
       TOTAL STOCKHOLDERS' EQUITY ...........................................................      84,854       86,819
                                                                                                ---------    ---------
       TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY ...........................................   $  86,437    $  89,445
                                                                                                =========    =========
</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,
                                        --------------------    --------------------
                                            2004        2003        2004        2003
                                        --------    --------    --------    --------
REVENUES:
<S>                                     <C>         <C>         <C>         <C>
 License fees .......................   $     --    $     --    $  1,106    $     --
 Services fees ......................         --          27          --         130
                                        --------    --------    --------    --------
  Total revenues ....................       --            27       1,106         130

COST OF REVENUES:
 License fees .......................         --          --          --        --
 Services fees ......................         --          --          --        --
                                        --------    --------    --------    --------
  Total cost of revenues ............         --          --          --        --

OPERATING EXPENSES:

 General and administrative .........      1,066         725       3,395       4,986
 Provision for doubtful accounts ....         --          --          --          18
 Transaction expenses ...............        175          --       1,636        --
 Loss on sale or disposal of assets .         --          36          --          36
 Depreciation and amortization ......         86          --         186         762
                                        --------    --------    --------    --------
  Total operating expenses ..........      1,327         761       5,217       5,802

OPERATING LOSS ......................     (1,327)       (734)     (4,111)     (5,672)
OTHER INCOME ........................          2         267          19         169
INTEREST INCOME .....................        402         262       1,203       1,238
INTEREST EXPENSE ....................         --          --          --         (66)
                                        --------    --------    --------    --------
 NET LOSS ...........................   $   (923)   $   (205)   $ (2,889)   $ (4,331)
                                        ========    ========    ========    ========

 Net loss per common share:
  Basic .............................   $  (0.06)   $  (0.01)   $  (0.18)   $  (0.27)
  Diluted ...........................   $  (0.06)   $  (0.01)   $  (0.18)   $  (0.27)

 Weighted average shares outstanding:
  Basic .............................     16,123      16,021      16,092      15,905
  Diluted ...........................     16,123      16,021      16,092      15,905
</TABLE>


<PAGE>


                               CLARUS CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                     YEARS ENDED DECEMBER 31, 2004 AND 2003
                      (IN THOUSANDS, EXCEPT SHARE AMOUNTS)


<TABLE>
<CAPTION>
                                                                                 2004         2003
                                                                              ---------    ---------
OPERATING ACTIVITIES:
<S>                                                                           <C>          <C>
Net loss ..................................................................   $  (2,889)   $  (4,331)
Adjustments to reconcile net loss to net cash used in operating activities:
  Depreciation and amortization of property and equipment .................         186          762
  Amortization of premium and discount on securities, net .................         982         --
  Gain on sale of marketable securities and other .........................         (17)        --
  Provision for doubtful accounts .........................................          --           18
  Amortization of deferred employee compensation plans ....................         583          287
  Loss on sale or disposal of property and equipment ......................          --           36
  Changes in operating assets and liabilities:
    Accounts receivable ...................................................          --          449
    Interest receivable, prepaids and other current assets ................         107          623
    Assets held for sale ..................................................          --           48
    Deposits and other long-term assets ...................................          (4)          30
    Accounts payable and accrued liabilities ..............................         (52)        (416)
    Deferred revenue ......................................................      (1,106)        (142)
    Deferred rent .........................................................         115         --
    Liabilities to be assumed .............................................          --         (220)
                                                                              ---------    ---------
     Net cash (used in) operating activities ..............................      (2,095)      (2,856)
                                                                              ---------    ---------
INVESTING ACTIVITIES:
  Purchase of marketable securities .......................................     (59,754)    (117,881)
  Proceeds from the sale and maturity of marketable securities ............      97,242       96,918
  Purchase of property and equipment ......................................      (2,515)         (38)
  Proceeds from sale of property and equipment ............................          --           11
                                                                              ---------    ---------
     Net cash provided by (used in) investing activities ..................      34,973      (20,990)

FINANCING ACTIVITIES:
  Proceeds from the exercise of stock options .............................         454        1,656
  Proceeds from issuance of common stock related to employee stock
        purchase plans ....................................................        --             10
  Repayment of long-term debt .............................................        --         (5,000)
                                                                              ---------    ---------
     Net cash provided by (used in) financing activities ..................         454       (3,334)
                                                                              ---------    ---------

Effect of exchange rate change on cash ....................................        --           --
CHANGE IN CASH AND CASH EQUIVALENTS .......................................      33,332      (27,180)
CASH AND CASH EQUIVALENTS, beginning of year ..............................      15,045       42,225
                                                                              ---------    ---------
CASH AND CASH EQUIVALENTS, end of year ....................................   $  48,377    $  15,045
                                                                              =========    =========

NONCASH TRANSACTIONS:

Grant of Restricted Stock .................................................   $      50    $   2,680
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
