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FORM 10-Q
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 December 31, 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)
111 Powdermill Road, 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 December 31,
1994: 146,673,801.
The undersigned registrant hereby amends the following items, financial
statements, exhibits or other portions of its quarterly report on Form 10-Q as
set forth on the pages attached hereto.
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DIGITAL EQUIPMENT CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
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Six-Month Period Ended
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December 31, January 1,
1994 1994
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss..................................... $ ( 111,688) $ (226,397)
Adjustments to reconcile net loss to
net cash used by operating activities:
Depreciation............................. 263,101 301,722
Amortization............................. 36,032 60,996
Net gain on disposition of
investments and other assets........... (27,398) ---
Other adjustments to net loss............ (83,413) 84,002
Decrease in accounts receivable.......... 345,657 224,283
Increase in inventories.................. (277,406) (195,216)
(Increase)/decrease in prepaid expenses.. (13,889) 82,145
Decrease in accounts payable............. (248,034) (55,379)
Decrease in taxes........................ (3,848) (66,782)
Increase in salaries, wages, benefits
and related items...................... 14,684 134,695
Decrease in deferred revenues and
customer advances....................... (176,389) (l77,830)
Decrease in accrued restructuring costs.. (462,465) (34l,584)
Increase/(decrease) in other
current liabilities.................... 108,656 (65,303)
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Total adjustments............................ (524,712) (14,251)
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Net cash flows from operating activities..... (636,400) (240,648)
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CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in property, plant and equipment.. (182,335) (348,070)
Proceeds from the disposition of net
property, plant and equipment.............. 110,304 53,620
Investment in other assets................... (13,151) (39,993)
Proceeds from the disposition of other
assets..................................... 644,634 3,238
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Net cash flows from investing activities..... 559,452 (33l,205)
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Net cash flows from operating and
investing activities....................... (76,948) (57l,853)
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The accompanying notes are an integral part of these financial statements.
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CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of debt........... --- 12,950
Payments to retire debt...................... (24,355) (23,573)
Issuance of common and treasury
shares, including tax effects.............. 70,368 86,538
Dividends on preferred stock................. (17,750) ---
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Net cash flows from financing activities..... 28,263 75,9l5
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Net decrease in cash and cash equivalents.... (48,685) (495,938)
Cash and cash equivalents at the
beginning of the year...................... 1,180,863 1,643,l95
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Cash and cash equivalents at end of period... $ 1,132,178 $ 1,147,257
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The accompanying notes are an integral part of these financial statements.
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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)
By: /s/ Vincent J. Mullarkey
___________________________________
Vincent J. Mullarkey
Vice President, Finance and
Chief Financial Officer
(Duly Authorized Officer and
Principal Financial Officer)
Dated: March 13, 1995
