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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 1 to FORM 10-Q
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
for the quarterly period ended October 1, 1994
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number 1-5296
Digital Equipment Corporation
(Exact name of registrant as specified in its charter)
Massachusetts 04-2226590
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
146 Main Street, Maynard, Massachusetts 01754
(Address of principal executive offices) (Zip Code)
(508) 493-5111
(Registrant's telephone number, including area code)
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 the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date. Number of
shares of Common Stock, par value $1, outstanding as of October 1,
1994: 142,746,524.
The undersigned registrant hereby amends the following items, financial
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statements, exhibits or other portions of its quarterly report on Form 10-Q
as set forth on the pages attached hereto.
DIGITAL EQUIPMENT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands except per share data)
<TABLE>
<CAPTION>
Three-Month Period Ended
----------------------------
October 1, October 2,
1994 1993
------------ -------------
<S> <C> <C>
REVENUES
Product sales................................. $ 1,652,651 $ 1,557,004
Service and other revenues.................... 1,469,821 1,457,944
------------ -------------
TOTAL OPERATING REVENUES...................... 3,122,472 3,014,948
------------ -------------
COSTS AND EXPENSES
Cost of product sales......................... 1,230,666 981,415
Service expense and cost of other revenues.... 948,672 943,877
Research and engineering expenses............. 287,788 314,717
Selling, general and administrative expenses.. 836,367 872,207
------------ -------------
Operating loss................................ (181,021) (97,268)
Interest income............................... 7,026 17,213
Interest expense.............................. 16,726 19,636
------------ -------------
LOSS BEFORE INCOME TAXES AND CUMULATIVE
EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE...... (190,721) (99,691)
PROVISION FOR INCOME TAXES.................... 4,352 3,536
------------ -------------
LOSS BEFORE CUMULATIVE EFFECT OF CHANGE
IN ACCOUNTING PRINCIPLE...................... (195,073) (103,227)
Cumulative effect of change in accounting
principle.................................... (64,503) 51,026
------------ -------------
NET LOSS...................................... $ (130,570) $ (154,253)
Dividends on preferred stock.................. 8,875 -
------------ -------------
NET LOSS APPLICABLE TO COMMON STOCK (1)....... $ (139,445) $ (154,253)
============ =============
PER COMMON SHARE
LOSS BEFORE CUMULATIVE EFFECT OF CHANGE IN
ACCOUNTING PRINCIPLE........................ $ ( 1.44) $ ( 0.76)
CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING
PRINCIPLE................................... .46 ( 0.38)
------------ -------------
NET LOSS APPLICABLE PER COMMON SHARE.......... $ ( 0.98) $ ( 1.14)
============ =============
</TABLE>
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Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits
Exhibit 27 - Financial Data Schedule
(b) Reports on Form 8-K.
No reports on Form 8-K were filed by the Corporation during the
period covered by this report.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this amendment to be
signed on its behalf by the undersigned, thereunto duly authorized.
DIGITAL EQUIPMENT CORPORATION
(Registrant)
Dated: December 8, 1994 By: /s/ Gail S. Mann
-----------------------------------
Gail S. Mann
Vice President, Secretary and Clerk
<TABLE> <S> <C>
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<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Consolidated Financial Statements of the corporation for the quarter ended
October 1, 1994 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> JUL-01-1995
<PERIOD-START> JUL-03-1994
<PERIOD-END> OCT-01-1994
<EXCHANGE-RATE> 1
<CASH> 881,160
<SECURITIES> 0
<RECEIVABLES> 3,009,455
<ALLOWANCES> 126,326
<INVENTORY> 2,298,166
<CURRENT-ASSETS> 6,416,121
<PP&E> 6,964,174
<DEPRECIATION> 3,885,235
<TOTAL-ASSETS> 9,966,347
<CURRENT-LIABILITIES> 4,557,648
<BONDS> 1,010,729
<COMMON> 142,747
0
4,000
<OTHER-SE> 2,999,567
<TOTAL-LIABILITY-AND-EQUITY> 9,966,347
<SALES> 1,652,651
<TOTAL-REVENUES> 3,122,472
<CGS> 1,230,666
<TOTAL-COSTS> 2,179,338
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 9,051
<INTEREST-EXPENSE> 16,726
<INCOME-PRETAX> (190,721)
<INCOME-TAX> 4,352
<INCOME-CONTINUING> (195,073)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> (64,503)
<NET-INCOME> (130,570)
<EPS-PRIMARY> (0.98)
<EPS-DILUTED> (0.98)
</TABLE>
