UNITED STATES
                      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 17, 2005


                                 Zanett, Inc.
-----------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)


Delaware                           0-27068                      56-43895
-----------------------------------------------------------------------------
(State or other jurisdiction     (Commission                 (IRS Employer
of incorporation)                 File Number)            Identification No.)


135 East 57th Street, 15th Floor, New York, NY                 10022
-----------------------------------------------------------------------------
(Address of Principal Executive Offices)                     (Zip Code)

Registrant's telephone number, including area code:        (212) 980-4600
                                                           ---------------

-----------------------------------------------------------------------------
        (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 (see General Instruction A.2. below):

__    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 17, 2005, the Company is holding a teleconference with a
select group of investors and money managers. Copies of the Talking Points
Memorandum, which includes a reconciliation of certain Non-GAAP financial
measures that will be discussed, and the Company's Policy on Non-GAAP
Financial Measures that the Company's Chief Executive Officer David McCarthy
will speak from are attached hereto as Exhibits 99.1 and 99.2. The
teleconference and the attached Exhibits contain information regarding the
Company's financial results for the year ended December 31, 2004. This
information is preliminary and subject to finalization as part of the
Company's year-end financial audit.

      The foregoing information, furnished under "Item 2.02 Results of
Operations and Financial Condition," the Talking Points Memorandum and the
Company's Policy on Non-GAAP Financial Measures shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange 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
a filing.

      Certain statements in this report and the attached Exhibits regarding
future expectations and plans for future operating results and activities may
be regarded as forward looking statements within the meaning of the
Securities Litigation Reform Act. These statements involve, among other
things, known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such forward
looking statements.  The Company undertakes no obligation to publicly update
or revise any forward looking statements, whether as a result of new
information, future events or otherwise. For a more detailed discussion of
some of the foregoing risks and uncertainties, see the Company's filings with
the Securities and Exchange Commission.


Item 7.01    Regulation FD Disclosure.

      As noted above under Item 2.02, on March 17, 2005, the Company is
holding a teleconference with a select group of investors and money managers.
Copies of the Talking Points Memorandum, which includes a reconciliation of
certain Non-GAAP financial measures that will be discussed, and the Company's
Policy on Non-GAAP Financial Measures that the Company's Chief Executive
Officer David McCarthy will speak from are attached hereto as Exhibits 99.1
and 99.2.

      The foregoing information, furnished under "Item 7.0 Regulation FD
Disclosure," the Talking Points Memorandum and the Company's Policy on Non-
GAAP Financial Measures are being furnished in accordance with Regulation FD
and shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange 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 a filing.

      Certain statements in this report and the attached Exhibits regarding
future expectations and plans for future operating results and activities may
be regarded as forward looking statements within the meaning of the
Securities Litigation Reform Act. These statements involve, among other
things, known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such forward
looking statements.  The Company undertakes no obligation to publicly update
or revise any forward looking statements, whether as a result of new
information, future events or otherwise. For a more detailed discussion of
some of the foregoing risks and uncertainties, see the Company's filings with
the Securities and Exchange Commission.


Item 9.01   Financial Statements and Exhibits.

(c)    Exhibits.

99.1   Talking Points Memorandum

99.2   Policy on Non-GAAP Financial Measures

<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.


                                        ZANETT, INC.



Date:  March 17, 2005                   By: /s/ Jack M. Rapport
                                        -----------------------
                                        Jack M. Rapport
                                        Chief Financial Officer

<PAGE>

                               Exhibit Index

99.1   Talking Points Memorandum

99.2   Policy on Non-GAAP Financial Measures
[{"type": "8-K", "sequence": "1", "filename": "r8kstateofzanett031705.txt", "secsgml_size_bytes": 6991}]
{"company-data": {"conformed-name": "ZANETT INC", "cik": "0001133872", "assigned-sic": "7389", "irs-number": "564389547", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32315", "film-number": "05688951"}, "business-address": {"street1": "135 E 57TH STREET", "street2": "15TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2127595700"}, "mail-address": {"street1": "135 E 57TH ST 15TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "PLANET ZANETT INC", "date-changed": "20010206"}}
UNITED STATES
                      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 17, 2005

                                 Zanett, Inc.
-----------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)

Delaware                           0-27068                      56-43895
-----------------------------------------------------------------------------
(State or other jurisdiction     (Commission                 (IRS Employer
of incorporation)                 File Number)            Identification No.)

135 East 57th Street, 15th Floor, New York, NY                 10022
-----------------------------------------------------------------------------
(Address of Principal Executive Offices)                     (Zip Code)

Registrant's telephone number, including area code:        (212) 980-4600
                                                           ---------------

-----------------------------------------------------------------------------
        (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 (see General Instruction A.2. below):

__    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))
Item 2.02   Results of Operations and Financial Condition.

      On March 17, 2005, the Company is holding a teleconference with a
select group of investors and money managers. Copies of the Talking Points
Memorandum, which includes a reconciliation of certain Non-GAAP financial
measures that will be discussed, and the Company's Policy on Non-GAAP
Financial Measures that the Company's Chief Executive Officer David McCarthy
will speak from are attached hereto as Exhibits 99.1 and 99.2. The
teleconference and the attached Exhibits contain information regarding the
Company's financial results for the year ended December 31, 2004. This
information is preliminary and subject to finalization as part of the
Company's year-end financial audit.

      The foregoing information, furnished under "Item 2.02 Results of
Operations and Financial Condition," the Talking Points Memorandum and the
Company's Policy on Non-GAAP Financial Measures shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange 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
a filing.

      Certain statements in this report and the attached Exhibits regarding
future expectations and plans for future operating results and activities may
be regarded as forward looking statements within the meaning of the
Securities Litigation Reform Act. These statements involve, among other
things, known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such forward
looking statements.  The Company undertakes no obligation to publicly update
or revise any forward looking statements, whether as a result of new
information, future events or otherwise. For a more detailed discussion of
some of the foregoing risks and uncertainties, see the Company's filings with
the Securities and Exchange Commission.

Item 7.01    Regulation FD Disclosure.

      As noted above under Item 2.02, on March 17, 2005, the Company is
holding a teleconference with a select group of investors and money managers.
Copies of the Talking Points Memorandum, which includes a reconciliation of
certain Non-GAAP financial measures that will be discussed, and the Company's
Policy on Non-GAAP Financial Measures that the Company's Chief Executive
Officer David McCarthy will speak from are attached hereto as Exhibits 99.1
and 99.2.

      The foregoing information, furnished under "Item 7.0 Regulation FD
Disclosure," the Talking Points Memorandum and the Company's Policy on Non-
GAAP Financial Measures are being furnished in accordance with Regulation FD
and shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange 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 a filing.

      Certain statements in this report and the attached Exhibits regarding
future expectations and plans for future operating results and activities may
be regarded as forward looking statements within the meaning of the
Securities Litigation Reform Act. These statements involve, among other
things, known and unknown risks, uncertainties and other factors that may
cause the Company's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by such forward
looking statements.  The Company undertakes no obligation to publicly update
or revise any forward looking statements, whether as a result of new
information, future events or otherwise. For a more detailed discussion of
some of the foregoing risks and uncertainties, see the Company's filings with
the Securities and Exchange Commission.

Item 9.01   Financial Statements and Exhibits.

(c)    Exhibits.

99.1   Talking Points Memorandum

99.2   Policy on Non-GAAP Financial Measures
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.

                                        ZANETT, INC.

Date:  March 17, 2005                   By: /s/ Jack M. Rapport
                                        -----------------------
                                        Jack M. Rapport
                                        Chief Financial Officer
Exhibit Index

99.1   Talking Points Memorandum

99.2   Policy on Non-GAAP Financial Measures