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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):
September 29, 1998
Commission file number: 000-23735
PRECEPT BUSINESS SERVICES, INC.
(Exact name of registrant as specified in its charter)
Texas 75-2487353
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1909 Woodall Rodgers Freeway, Suite 500 75201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 754-6600
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ITEM 5 - OTHER EVENTS
On June 19, 1998, Precept Business Services, Inc. a Texas corporation (the
"Company" or "Precept"), through a wholly owned subsidiary, acquired all of the
issued and outstanding stock of MBF Corporation, a Louisiana corporation
("MBF"), pursuant to that certain Stock Purchase Agreement dated as of June 13,
1998 by and among the Company, Precept Business Products, Inc., a Delaware
corporation and a wholly owned subsidiary of the Company, MBF and J.D. Greco,
the President and sole stockholder of MBF. Louisiana-based MBF is a single
source distributor of printed products, distribution services and information
solutions.
Under terms of that certain Stock Purchase Agreement, the Company agreed
to report preliminary operating results for at least a 30-day period
following the consummation of the transaction with MBF. The Company's
preliminary unaudited condensed operating results for the two months ended
August 31, 1998 are shown below. Such results may be subject to normal
recurring adjustments as the Company's completes its quarterly closing
process to prepare its quarterly financial statements. In addition, such
condensed operating results are not necessarily indicative of the results of
operations for the whole fiscal year.
Consolidated condensed operating results:
Revenue $21.8 million
Income before income taxes $0.6 million
Net income $0.3 million
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly issued this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PRECEPT BUSINESS SERVICES, INC.
October 1, 1998 By: /s/ William W. Solomon, Jr.
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William W. Solomon, Jr.
Senior Vice President, Chief
Financial Officer
(Principal Financial and
Accounting Officer)
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