<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------
AMENDMENT NO. 1
TO
FORM 10-Q
------------------------
(MARK ONE)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE QUARTER ENDED FEBRUARY 28, 1998
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER 0-27046
------------------------
QUINTEL ENTERTAINMENT, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
<TABLE>
<S> <C>
DELAWARE 22-3322277
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
ONE BLUE HILL PLAZA
PEARL RIVER, NEW YORK 10965
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
</TABLE>
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (914) 620-1212
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [X] No [ ]
The number of shares outstanding of the Registrant's common stock is
16,679,746 (as of 4/13/98).
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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.
QUINTEL ENTERTAINMENT, INC.
By: /s/ JEFFREY L. SCHWARTZ
------------------------------------
Jeffrey L. Schwartz
Chairman and CEO
Date: April 14, 1998
By: /s/ DANIEL HARVEY
------------------------------------
Daniel Harvey
Principal Financial Officer
(Chief Financial Officer)
Date: April 14, 1998
9
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<ARTICLE> 5
<LEGEND>
This schedule contains summary information extracted from the Quintel
Entertainment, Inc and Subsidiaries Consolidated Financial Statement as
presented in the Company's Form 10Q for the quarter ended February 28, 1998 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> FEB-28-1998
<CASH> $11,449,620
<SECURITIES> 26,759,690
<RECEIVABLES> 42,792,207
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 92,698,653
<PP&E> 1,477,331
<DEPRECIATION> 277,452
<TOTAL-ASSETS> 112,904,055
<CURRENT-LIABILITIES> 45,511,403
<BONDS> 0
0
0
<COMMON> 18,649
<OTHER-SE> 67,374,003
<TOTAL-LIABILITY-AND-EQUITY> 112,904,055
<SALES> 36,635,601
<TOTAL-REVENUES> 36,635,601
<CGS> 26,136,574
<TOTAL-COSTS> 26,136,574
<OTHER-EXPENSES> 4,975,613
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 30,447
<INCOME-PRETAX> 6,147,306
<INCOME-TAX> 2,458,922
<INCOME-CONTINUING> 5,523,414
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 3,688,384
<EPS-PRIMARY> $0.20
<EPS-DILUTED> $0.20
</TABLE>
