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UNITED STATES
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): April 18, 1997
DATAFLEX CORPORATION
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(Exact name of registrant as specified in its charter)
New Jersey 0-15551 22-2163376
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
2145 Calumet Avenue, Clearwater, Florida 34624
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (813) 562-2200
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N/A
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Dataflex Corporation (the "Company") completed the sale of certain assets
constituting its K-12 Education Division to Computer Plus, Inc. The sale of
these assets, excluding approximately $3.1 million in accounts receivable,
resulted in cash proceeds of approximately $4.4 million to the Company. The
Company intends to use the proceeds of the sale (including any proceeds from
retained accounts receivable) to reduce its indebtedness under its lines of
credit. The Company will recognize a pre-tax loss of approximately $2.3
million as a result of the sale. For the fiscal year ended March 31, 1996 and
the nine months ended December 31, 1996, the Education Division had revenues of
approximately $16.8 and $14.5 million, respectively.
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 hereunto duly authorized.
DATAFLEX CORPORATION
(Registrant)
By: /s/ ANTHONY G. LEMBO
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Anthony G. Lembo, President
Date: April 28, 1997
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