UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 1997
[ ] 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 0-8771
EVANS & SUTHERLAND
COMPUTER CORPORATION
(Exact name of registrant as specified in its charter)
Utah 87-0278175
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
600 Komas Drive, Salt Lake City, Utah 84108
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 588-1000
Securities Registered Pursuant to Section 12(b) of the Act:
"None"
Securities Registered Pursuant to Section 12(g) of the Act:
Title of Class
----------------------------------
Common Stock, $.20 par value
6% Convertible Debentures Due 2012
Preferred Stock Purchase Rights
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 [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K (ss. 229.405 of this chapter) is not contained herein, and
will not be contained, to the best of Registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. [X]
The aggregate market value of the voting stock held by non-affiliates of
the Registrant as of February 27, 1998 was approximately $186,775,000.
The Registrant had issued and outstanding 8,925,444 shares of its common
stock on February 27, 1998.
<PAGE>
This Form 10-K/A for Evans & Sutherland Computer Corporation (the Company") is
being filed pursuant to Regulation S-K Item 601 (c) (2) (iii) to amend the
Financial Data Schedules for the two fiscal years and the interim periods for
the fiscal year ended December 31, 1997 due to the Company's adoption of
Statement of Financial Accounting Standards No. 128 "Earnings Per Share." The
Company adopted this new standard in the fourth quarter of 1997 and has restated
EPS for all prior periods. Accordingly, Exhibit 27 to the Form 10-K of the
Company is being replaced by Exhibits 27.1, 27.2 and 27.3 included in this Form
10-K/A.
EXHIBIT INDEX
27.1 Restated Financial Data Schedule as of and for the
year ended December 29, 1995.
27.2 Restated Financial Data Schedule as of and for the
year ended December 27, 1996.
27.3 Restated Financial Data Schedule as of and for the
periods ended March 28, 1997; June 27, 1997,
September 26, 1997 and December 31, 1997.
SIGNATURE
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this amended report to
be signed on its behalf by the undersigned, thereunto duly authorized.
EVANS & SUTHERLAND COMPUTER CORPORATION
DATE: MAY 13, 1998 BY: /S/ JOHN T. LEMLEY
-------------------------------------
John T. Lemley, Vice President
and Chief Financial Officer
(Principal Financial Officer)
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains unaudited summary financial information extracted from
Evans & Sutherland's 1995 annual consolidated financial statements. The schedule
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000276283
<NAME> EVANS & SUTHERLAND COMPUTER CORPORATION
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-29-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-29-1995
<CASH> 5,023
<SECURITIES> 86,718
<RECEIVABLES> 25,625
<ALLOWANCES> 0
<INVENTORY> 18,981
<CURRENT-ASSETS> 161,004
<PP&E> 106,147
<DEPRECIATION> 65,292
<TOTAL-ASSETS> 211,002
<CURRENT-LIABILITIES> 42,593
<BONDS> 18,015
0
0
<COMMON> 1,743
<OTHER-SE> 146,748
<TOTAL-LIABILITY-AND-EQUITY> 211,002
<SALES> 113,194
<TOTAL-REVENUES> 113,194
<CGS> 62,768
<TOTAL-COSTS> 62,768
<OTHER-EXPENSES> 50,825
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,477
<INCOME-PRETAX> 33,580
<INCOME-TAX> 13,096
<INCOME-CONTINUING> 20,484
<DISCONTINUED> 0
<EXTRAORDINARY> 327
<CHANGES> 0
<NET-INCOME> 20,811
<EPS-PRIMARY> 2.41<F1>
<EPS-DILUTED> 2.37<F1>
<FN>
F1 - Restated to reflect the adoption of Statement of Financial Accounting
Standards No. 128, "Earnings Per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains unaudited summary financial information extracted from
Evans & Sutherland's consolidated financial statements as of and for the year
ended December 27, 1996 and is qualified in its entirety by reference to such
statements
</LEGEND>
<CIK> 0000276283
<NAME> EVANS & SUTHERLAND COMPUTER CORPORATION
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-27-1996
<PERIOD-START> DEC-30-1995
<PERIOD-END> DEC-27-1996
<CASH> 16,521
<SECURITIES> 46,454
<RECEIVABLES> 35,405
<ALLOWANCES> 563
<INVENTORY> 20,202
<CURRENT-ASSETS> 159,213
<PP&E> 115,358
<DEPRECIATION> 72,687
<TOTAL-ASSETS> 210,891
<CURRENT-LIABILITIES> 32,290
<BONDS> 18,015
0
0
<COMMON> 1,811
<OTHER-SE> 158,661
<TOTAL-LIABILITY-AND-EQUITY> 210,891
<SALES> 130,564
<TOTAL-REVENUES> 130,564
<CGS> 65,935
<TOTAL-COSTS> 65,935
<OTHER-EXPENSES> 53,110
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,434
<INCOME-PRETAX> 16,029
<INCOME-TAX> 5,677
<INCOME-CONTINUING> 10,352
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 10,352
<EPS-PRIMARY> 1.16<F1>
<EPS-DILUTED> 1.12<F1>
<FN>
F1 - Restated to reflect the adoption of Statement of Financial Accounting
Standards No. 128, "Earnings Per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains unaudited summary financial information extracted from
Evans & Sutherland's consolidated financial statements as of and for the periods
ended March 28, 1997, June 27, 1997, September 26, 1997 and December 31, 1997
and is qualified in its entirety by reference to such statements.
</LEGEND>
<CIK> 0000276283
<NAME> EVANS & SUTHERLAND COMPUTER CORPORATION
<MULTIPLIER> 1,000
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 6-MOS 9-MOS YEAR
<FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997 DEC-31-1997
<PERIOD-START> DEC-27-1996 DEC-27-1996 DEC-27-1996 DEC-27-1996
<PERIOD-END> MAR-28-1997 JUN-27-1997 SEP-26-1997 DEC-31-1997
<CASH> 12,519 9,960 5,357 8,176
<SECURITIES> 51,297 56,831 50,398 48,928
<RECEIVABLES> 32,418 26,757 34,483 36,917
<ALLOWANCES> 588 618 876 851
<INVENTORY> 21,753 21,893 26,938 26,885
<CURRENT-ASSETS> 160,582 162,730 168,549 179,698
<PP&E> 117,972 120,052 121,302 123,168
<DEPRECIATION> 74,792 76,186 77,898 78,800
<TOTAL-ASSETS> 212,605 215,388 224,340 234,390
<CURRENT-LIABILITIES> 32,454 34,980 39,152 50,741
<BONDS> 18,015 18,015 18,015 18,015
0 0 0 0
0 0 0 0
<COMMON> 1,815 1,800 1,816 1,813
<OTHER-SE> 160,321 160,593 165,357 163,821
<TOTAL-LIABILITY-AND-EQUITY> 212,605 215,388 224,340 234,390
<SALES> 33,642 71,549 110,000 159,353
<TOTAL-REVENUES> 33,642 71,549 110,000 159,353
<CGS> 18,514 38,997 58,164 84,139
<TOTAL-COSTS> 18,514 38,997 58,164 84,139
<OTHER-EXPENSES> 13,690 29,068 43,569 60,825
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 338 677 991 1,300
<INCOME-PRETAX> 2,015 4,722 9,824 6,838
<INCOME-TAX> 604 1,336 2,613 1,758
<INCOME-CONTINUING> 1,411 3,386 7,211 5,080
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 1,411 3,386 7,211 5,080
<EPS-PRIMARY> 0.16<F1> 0.37<F1> 0.80<F1> 0.56<F1>
<EPS-DILUTED> 0.15<F1> 0.36<F1> 0.76<F1> 0.53<F1>
<FN>
F1 - Restated to reflect the adoption of Statement of Financial Accounting
Standards No. 128, "Earnings Per Share."
</FN>
</TABLE>
