<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q/A
AMENDMENT NO.1
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the period ended December 31, 1993
-----------------
OR
( ) 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 1-8328
ANACOMP, INC.
Indiana 35-1144230
11550 North Meridian Street
Post Office Box 40888
Indianapolis, Indiana 46240
Registrant's Telephone Number is (317) 844-9666
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 and 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
------- -------
The number of shares outstanding of the Common Stock of the registrant on
December 31, 1993, the close of the period covered by this report, was
40,863,097.
<PAGE> 2
ANACOMP, INC. AND SUBSIDIARIES
Index
<TABLE>
<CAPTION>
PART I. FINANCIAL INFORMATION Page No.
<S> <C> <C>
Item 1. Financial Statements:
Consolidated Balance Sheets
December 31, 1993 and September 30, 1993 ................ 2
Consolidated Statements of Operations
Three Months Ended December 31, 1993 and 1992............ 3
Consolidated Statements of Cash Flows
Three Months Ended December 31, 1993 and 1992............ 4
Consolidated Statements of Stockholders' Equity
Three Months Ended December 31, 1993 and 1992............ 5
Notes to Consolidated Financial Statements............... 6
Item 2. Management's Discussion and Analysis of
Financial Condition and Results of Operations ............. 9
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K........................... 10
SIGNATURES ............................................................ 11
</TABLE>
<PAGE> 3
CONSOLIDATED BALANCE SHEETS (Unaudited)
Anacomp, Inc., and Subsidiaries
<TABLE>
<CAPTION>
(Dollars in thousands, Dec. 31, Sept. 30,
except per share amounts) 1993 1993
------------------------------------------------------------------------------------
<S> <C> <C>
ASSETS (Note 3)
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . $ 27,897 $ 24,922
Accounts and notes receivable, less allowances for
doubtful accounts of $3,885 and $4,245, respectively . . . 93,699 109,251
Current portion of long-term receivables . . . . . . . . . 16,174 7,489
Inventories . . . . . . . . . . . . . . . . . . . . . . . . 57,599 69,192
Prepaid expenses and other . . . . . . . . . . . . . . . . 9,965 7,157
-------- --------
Total current assets . . . . . . . . . . . . . . . . . . . . 205,334 218,011
-------- --------
Property and equipment, at cost less
accumulated depreciation and amortization . . . . . . . . . 59,228 66,399
Long-term receivables, net of current portion . . . . . . . . 19,704 17,619
Excess of purchase price over net assets of businesses
acquired and other intangibles, net. . . . . . . . . . . . . 268,804 296,426
Deferred tax benefit of net operating losses, net of
valuation allowance of $60,000 . . . . . . . . . . . . . . 35,000 --
Other assets . . . . . . . . . . . . . . . . . . . . . . . . 48,276 45,093
-------- --------
$636,346 $643,548
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt . . . . . . . . . . . . . $ 36,850 $ 34,355
Accounts payable . . . . . . . . . . . . . . . . . . . . . 61,764 67,246
Accrued compensation, benefits and withholdings . . . . . . 12,997 16,452
Accrued income taxes . . . . . . . . . . . . . . . . . . . 12,606 11,502
Accrued interest. . . . . . . . . . . . . . . . . . . . . . 12,991 20,089
Other accrued liabilities . . . . . . . . . . . . . . . . . 33,465 37,438
-------- --------
Total current liabilities . . . . . . . . . . . . . . . . . . 170,673 187,082
-------- --------
Long-term debt, net of current portion. . . . . . . . . . . . 405,230 404,738
Other noncurrent liabilities. . . . . . . . . . . . . . . . . 12,625 13,546
-------- --------
Total noncurrent liabilities. . . . . . . . . . . . . . . . . 417,855 418,284
-------- --------
Redeemable preferred stock, $.01 par value,
issued and outstanding 500,000 shares
(aggregate preference value of $25,000). . . . . . . . . . . 24,407 24,383
-------- --------
Stockholders' equity:
Common stock, $.01 par value, authorized 100,000,000
shares, 40,863,097 and 40,629,524 issued, respectively . . 409 406
Capital in excess of par value of common stock . . . . . . 163,765 163,209
Cumulative translation adjustment . . . . . . . . . . . . . (4,552) (4,744)
Accumulated deficit . . . . . . . . . . . . . . . . . . . . (136,211) (145,072)
-------- --------
Total stockholders' equity. . . . . . . . . . . . . . . . . . 23,411 13,799
-------- --------
$636,346 $643,548
======== ========
</TABLE>
See notes to consolidated financial statements.
- 2 -
<PAGE> 4
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Anacomp, Inc., and Subsidiaries
<TABLE>
<CAPTION>
Three months ended
(Dollars in thousands, December 31,
--------------------
except per share amounts) 1993 1992
---------------------------------------------------------------------------------
<S> <C> <C>
(Note 3)
Revenues:
Services provided . . . . . . . . . . . . . . . . . . . . $ 54,424 $ 52,941
Equipment and supply sales . . . . . . . . . . . . . . . 82,525 88,211
-------- --------
136,949 141,152
-------- --------
Operating costs and expenses:
Costs of services provided . . . . . . . . . . . . . . . 37,274 36,628
Costs of equipment and supplies sold. . . . . . . . . . . 58,338 62,485
Selling, general and administrative expenses . . . . . . 21,757 21,874
-------- --------
117,369 120,987
-------- --------
Income before interest, other income,
income taxes, extraordinary credit, and
cumulative effect of accounting change . . . . . . . . . 19,580 20,165
-------- --------
Interest income . . . . . . . . . . . . . . . . . . . . . . 777 609
Interest expense and fee amortization . . . . . . . . . . . (17,086) (17,289)
Other income (expense). . . . . . . . . . . . . . . . . . . (270) (958)
-------- --------
(16,579) (17,638)
-------- --------
Income before income taxes, extraordinary credit, and
cumulative effect of accounting change. . . . . . . . . . 3,001 2,527
Provision for income taxes . . . . . . . . . . . . . . . . 1,600 1,215
-------- --------
Income before extraordinary credit and
cumulative effect of accounting change . . . . . . . . . 1,401 1,312
Extraordinary credit resulting from utilization
of tax loss carryforwards . . . . . . . . . . . . . . . . -- 700
Cumulative effect on prior years of a change in
accounting for income taxes . . . . . . . . . . . . . . . 8,000 --
-------- --------
Net income. . . . . . . . . . . . . . . . . . . . . . . . . 9,401 2,012
Preferred stock dividends and discount accretion . . . . . 540 540
-------- --------
Net income available to common stockholders . . . . . . . . $ 8,861 $ 1,472
======== ========
Earnings per common and common equivalent share:
Income from operations (net of preferred
stock dividends and discount accretion) . . . . . . . . $ .02 $ .02
Extraordinary credit . . . . . . . . . . . . . . . . . . -- .02
Cumulative effect on prior years of a change in
accounting for income taxes . . . . . . . . . . . . . . .18 --
Net income. . . . . . . . . . . . . . . . . . . . . . . . $ .20 $ .04
======== ========
</TABLE>
See notes to consolidated financial statements.
-3-
<PAGE> 5
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
Anacomp, Inc., and Subsidiaries
<TABLE>
<CAPTION>
Three months ended
December 31,
------------------
(Dollars in thousands) 1993 1992
-------------------------------------------------------------------------------------
<S> <C> <C>
(Note 3)
Cash flows from operating activities:
Net income.................................................... $ 9,401 $ 2,012
Adjustments to reconcile net income to net
cash used in operating activities:
Cumulative effect of a change in accounting for income taxes (8,000) --
Depreciation and amortization............................... 9,278 9,478
Provision (benefit) for losses on accounts receivable....... -- (365)
Loss on disposition of assets............................... 69 4
Change in assets and liabilities, net of acquisitions:
Decrease in accounts and long-term receivables............ 12,879 10,980
Increase in inventories and prepaid expenses.............. (220) (2,027)
Increase in other assets.................................. (3,485) (3,113)
Decrease in accounts payable and accrued expenses......... (20,297) (25,199)
Decrease in other noncurrent liabilities.................. (921) (421)
-------- --------
Net cash used in operating activities................... (1,296) (8,651)
-------- --------
Cash flows from investing activities:
Proceeds from sale of assets.................................. 7,018 8,094
Purchases of property, plant and equipment.................... (3,039) (4,708)
Payments to acquire companies and customer rights............. (2,600) (150)
-------- --------
Net cash provided by investing activities............... 1,379 3,236
-------- --------
Cash flows from financing activities:
Proceeds from issuance of common stock ....................... 559 582
Proceeds from revolving line of credit and
long-term borrowings........................................ 22,628 10,000
Principal payments on long-term debt.......................... (19,771) (29,434)
Preferred dividends paid...................................... (516) (516)
-------- --------
Net cash provided by, (used in) financing activities.... 2,900 (19,368)
-------- --------
Effect of exchange rate changes on cash......................... (8) 1,788
-------- --------
Increase (decrease) in cash and cash equivalents................ 2,975 (22,995)
Cash and cash equivalents at beginning of period................ 24,922 29,881
-------- --------
Cash and cash equivalents at end of period...................... $ 27,897 $ 6,886
======== ========
Supplemental disclosures of cash flow information
Cash paid during the period for:
Interest...................................................... $ 21,775 $ 22,154
Income taxes.................................................. $ 460 $ 442
</TABLE>
See notes to consolidated financial statements.
-4-
<PAGE> 6
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited)
Anacomp, Inc., and Subsidiaries
<TABLE>
<CAPTION>
THREE MONTHS ENDED DECEMBER 31, 1993 Capital in
excess of
par value Cumulative Retained
Common of Common Translation earnings
(In thousands) Stock Stock Adjustment (deficit) Total
------------------------------------ -------- --------- ----------- --------- ----------
<S> <C> <C> <C> <C> <C>
BALANCE AT SEPTEMBER 30, 1993 ...... $ 406 $ 163,209 $ (4,744) $(145,072) $ 13,799
Exercise of stock options .......... 2 300 -- -- 302
Shares issued for purchases under
the Employee Stock Purchase Plan.. 1 256 -- -- 257
Preferred stock dividends .......... -- -- -- (516) (516)
Accretion of redeemable preferred
stock discount ................... -- -- -- (24) (24)
Translation adjustments for period . -- -- 192 -- 192
Net income for the period (Note 3).. -- -- -- 9,401 9,401
-------- --------- --------- --------- ---------
BALANCE AT DECEMBER 31, 1993........ $ 409 $ 163,765 $ (4,552) $(136,211) $ 23,411
======== ========= ========= ========= =========
</TABLE>
<TABLE>
<CAPTION>
THREE MONTHS ENDED DECEMBER 31, 1992 Capital in
excess of
par value Cumulative Retained
Common of Common Translation earnings
(In thousands) Stock Stock Adjustment (deficit) Total
------------------------------------ -------- --------- ----------- --------- ----------
<S> <C> <C> <C> <C> <C>
BALANCE AT SEPTEMBER 30, 1992 ...... $ 397 $161,198 $ 8,200 $(161,505) $ 8,290
Exercise of stock options .......... 1 216 -- -- 217
Shares issued for purchases under
the Employee Stock Purchase Plan.. 1 360 -- -- 361
Preferred stock dividends .......... -- -- -- (516) (516)
Accretion of redeemable preferred
stock discount ................... -- -- -- (24) (24)
Translation adjustments for period . -- -- (9,253) -- (9,253)
Net income for the period .......... -- -- -- 2,012 2,012
-------- -------- --------- --------- ---------
BALANCE AT DECEMBER 31, 1992........ $ 399 $161,774 $ (1,053) $(160,033) $ 1,087
======== ======== ========= ========= =========
</TABLE>
See notes to consolidated financial statements.
-5-
<PAGE> 7
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
ANACOMP, INC. AND SUBSIDIARIES
1. During interim periods, Anacomp follows the accounting policies set forth
in its Annual Report to Stockholders and its Report on Form 10-K filed with
the Securities and Exchange Commission. Users of financial information
produced for interim periods are encouraged to refer to the footnotes
contained in the Annual Report to Stockholders when reviewing interim
financial results.
In the opinion of management, the accompanying interim financial statements
contain all material adjustments, consisting only of normal recurring
adjustments necessary to present fairly the consolidated financial
condition, results of operations, and changes in financial position and
stockholders' equity of Anacomp and its subsidiaries for interim periods.
Certain amounts in the prior period financial statements have been
reclassified to conform to the current period presentation.
2. Inventories are stated at the lower of cost or market, cost being
determined by methods approximating the first-in, first-out basis.
The cost of inventories is distributed as follows:
<TABLE>
<CAPTION>
Dec. 31, Sept. 30,
(In thousands) 1993 1993
------------------------------------------------------------------
<S> <C> <C>
Finished goods . . . . . . . . . . . . . . . $ 34,081 $ 38,289
Work in process. . . . . . . . . . . . . . . 6,083 7,105
Raw materials and supplies . . . . . . . . . 17,435 23,798
-------- --------
$ 57,599 $ 69,192
======== ========
</TABLE>
3. The Company has restated its financial statements for the three months
ended December 31, 1993 to recognize revenues for COM systems warehoused
for certain customers in the periods the units are shipped. The impact of
this restatement resulted in a decrease in revenues of $1.8 million, and a
decrease in net income $500,000 for the three months ended December 31,
1993. The restatement had no impact on the prior period. In addition, the
Company has reclassified accreted interest on unfavorable lease reserves
from discontinued operations to interest expense in all periods presented.
4. In February 1992, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards No. 109, "Accounting for Income Taxes"
(FAS 109). Under FAS 109, the Company recognizes income taxes under the
liability method of accounting for income taxes. The liability method
measures the expected tax impact of future taxable income or deductions
resulting from differences in the tax and financial reporting bases of
assets and liabilities reflected in the consolidated balance sheet and the
expected tax impact of carryforwards for tax purposes. A valuation
allowance is to be recorded against those tax assets when it is "more
likely than not" that the benefit will not be realized.
FAS 109 was adopted in the first quarter of fiscal 1994. The Company
recorded a deferred tax asset of $95 million representing the federal and
state tax NOLs and tax credits. The Company also recorded a valuation
allowance of $60 million reducing the deferred tax asset to a net $35
million.
Recognition of the deferred tax asset and valuation allowance caused
adjustments to the following financial statement components:
-6-
<PAGE> 8
In the future, the federal provision for income taxes reflected in the
consolidated statement of operations will generally not require a cash
payout to the extent the Company has NOLs. The cash savings from the
utilization of NOLs will be reported as a reduction of the deferred tax
asset recorded under the guidelines of FAS 109.
The components of deferred tax assets and liabilities at October 1, 1993
are as follows:
<TABLE>
<CAPTION>
Net Deferred Tax Asset (In thousands)
----------------------
<S> <C>
Tax effects of future tax deductible
differences related to:
Inventory reserves....................... $ 2,900
Depreciation............................. 1,400
Building reserves........................ 7,400
EPA reserve.............................. 3,400
Sale/leaseback of assets................. 1,800
Other net deductible differences......... 4,300
Tax effects of future taxable differences
related to:
Leases................................... (4,600)
Capitalized software..................... (4,600)
--------
Net tax effects of future differences...... 12,000
--------
Tax effects of carryforward benefits:
Federal net operating loss carryforwards. 80,000
Federal general business tax credits..... 3,000
--------
Tax effects of carryforwards............... 83,000
--------
Tax effects of future differences
and carryforwards........................ 95,000
Less valuation allowance................... (60,000)
--------
Net deferred tax asset..................... $ 35,000
========
</TABLE>
At December 31, 1993 the Company had NOLs of approximately $220 million
available to offset future taxable income. An additional $34 million is
available in future periods as accrued expenses become deductible. The
Company also has tax credit carryforwards of $3 million available to reduce
future tax liabilities, including $1 million of preacquisition tax credits.
The NOLs expire commencing in 1995 ($15 million) with remaining amounts in
various periods through 2007. The tax credit carryforwards expire
substantially in 1997.
The adoption of FAS 109 reduced goodwill amortization expense by $188
thousand during the three month period ended December 31, 1993.
Accordingly, income from continuing operations and net income were
increased by the same amount. There was no effect on earnings per common
and common equivalent share.
-7-
<PAGE> 9
If FAS 109 had been adopted beginning October 1, 1992, the following
proforma results would have been reported for the three month period ended
(In thousands) except per share amounts:
<TABLE>
<CAPTION>
Dec. 31 Dec. 31
1993 1992
------- -------
<S> <C> <C>
Income from operations..................... $ 1,401 $ 1,500
Net Income................................. 1,401 9,500
Earnings per common and common
equivalent share......................... .02 .21
</TABLE>
5. The computation of earnings per common and common equivalent share is based
upon the weighted average number of common shares outstanding during the
period plus (in periods in which they have a dilutive effect) the effect of
common shares contingently issuable, primarily from stock options and
exercise of warrants.
The fully diluted per share computation reflects the effect of common shares
contingently issuable upon the exercise of warrants in periods in which such
exercise would cause dilution. Fully diluted earnings per share also
reflect additional dilution related to stock options due to the use of the
market price at the end of the period, when higher than the average price
for the period.
Fully diluted earnings per share are the same as primary earnings per share
for the periods presented.
6. Effective January 3, 1994, the Company purchased the computer output
micrographics business of 14 data centers operated by National Business
Systems for $14.8 million using equal amounts of common stock and cash.
-8-
<PAGE> 10
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS
Total revenues for the first quarter of fiscal year 1994 declined $4.2 million
compared to the first quarter of fiscal year 1993, in part due to a foreign
exchange translation impact of approximately $2 million. Micrographics service
and maintenance service revenues were each up 3%. Micrographic supplies
revenues were off $6.8 million, or 13% principally due to decreased duplicate
film and reader printer sales in the OEM channels.
Service revenues generated a gross profit margin of 32% in the first quarter up
from 31% in the prior year first quarter. Equipment and supply sales generated
a gross profit margin of 29% in both years. The improved service margins
resulted largely from the cost reduction efforts launched in the third quarter
of fiscal year 1993.
Selling, general, and administrative expenses amounted to 16% of total revenues
in both periods.
The first quarter financial statements reflect the Company's adoption of the
Financial Accounting Standards Board Statement No. 109, "Accounting for Income
Taxes", as discussed in Note 4 to the Consolidated Financial Statements. The
December 31, 1993 Balance Sheet includes a $35.0 million deferred tax asset and
the Consolidated Statements of Operations include an $8.0 million one time
adjustment reflecting the cumulative effect on prior years.
LIQUIDITY AND CAPITAL RESOURCES
Working capital amounted to $34.7 million at December 31, 1993 compared to
$30.9 million at September 30, 1993. As disclosed in the Consolidated
Statements of Cash Flows, net cash used in operating activities improved $7.4
in the first quarter of fiscal year 1994 compared to the first quarter of
fiscal 1993, primarily due to reductions in working capital. Net cash used in
financing activities was reduced $22.3 million dollars reflecting lower
paydowns on the Company's revolving line of credit and resulting in the year to
year increase in cash balances of $21.0 million. The Company believes that
operating cash flow in 1994 will be sufficient to meet cash requirements for
capital expenditures, debt repayments, and other obligations.
-9-
<PAGE> 11
ANACOMP, INC. AND SUBSIDIARIES
PART II: OTHER INFORMATION
PAGE NUMBER
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) Exhibits
(11) Computation of Earnings per Common Share. 12
(27) Financial data schedule (required for
electronic filing only)
(b) Reports on Form 8-K
There were no reports on Form 8-K filed during the
quarter ended December 31, 1993.
-10-
<PAGE> 12
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ANACOMP, INC.
/s/ Donald L. Viles
------------------------
Donald L. Viles
Vice President and
Chief Accounting Officer
Dated this 27th day of March, 1995.
-11-
<PAGE> 1
EXHIBIT 11
Anacomp, Inc. and Subsidiaries
COMPUTATION OF EARNINGS PER COMMON SHARE (Unaudited)
PRIMARY
<TABLE>
<CAPTION>
Three months ended
December 31,
------------------
(In thousands, except per share amounts) 1993 1992
-----------------------------------------------------------------------
<S> <C> <C>
(Note 3)
Earnings per Common Share:
Net income available to common stockholders.... $ 8,861 $ 1,472
======= =======
Shares:
Weighted average number of shares
outstanding .................................. 40,799 39,769
Adjustments:
Assumed issuances under stock option
and stock purchase plans..................... 2,783 2,839
------- -------
Total shares ..................................... 43,582 42,608
======= =======
Earnings per common share......................... $ .20 $ .04
======= =======
</TABLE>
-12-
<PAGE> 2
EXHIBIT 11
Anacomp, Inc. and Subsidiaries
COMPUTATION OF EARNINGS PER COMMON SHARE (Unaudited)
ASSUMING FULL DILUTION
<TABLE>
<CAPTION>
Three months ended
December 31,
------------------
(In thousands, except per share amounts) 1993 1992
-----------------------------------------------------------------------
<S> <C> <C>
(Note 3)
Earnings per Common Share:
Net income available to common stockholders.... $ 8,861 $ 1,472
======= =======
Shares:
Weighted average number of shares
outstanding .................................. 40,799 39,769
Adjustments:
Assumed issuances under stock option
and stock purchase plans..................... 3,656 4,209
------- -------
Total shares ..................................... 44,455 43,978
======= =======
Earnings per common share......................... $ .20 $ .04
======= =======
</TABLE>
-13-
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ANACOMP,
INC.'S DECEMBER 31, 1993 FROM 10-Q/A QUARTERLY REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> SEP-30-1994
<PERIOD-END> DEC-31-1993
<CASH> 27,897
<SECURITIES> 0
<RECEIVABLES> 93,699
<ALLOWANCES> 3,885
<INVENTORY> 57,599
<CURRENT-ASSETS> 205,334
<PP&E> 156,882
<DEPRECIATION> 97,654
<TOTAL-ASSETS> 636,346
<CURRENT-LIABILITIES> 170,673
<BONDS> 417,855
<COMMON> 0
0
24,407
<OTHER-SE> 23,411
<TOTAL-LIABILITY-AND-EQUITY> 636,346
<SALES> 82,525
<TOTAL-REVENUES> 136,949
<CGS> 58,338
<TOTAL-COSTS> 117,369
<OTHER-EXPENSES> 507
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 17,086
<INCOME-PRETAX> 3,001
<INCOME-TAX> 1,600
<INCOME-CONTINUING> 1,401
<DISCONTINUED> 0
<EXTRAORDINARY> 8,000
<CHANGES> 0
<NET-INCOME> 8,861
<EPS-PRIMARY> (.20)
<EPS-DILUTED> (.20)
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ANACOMP,
INC.'S DECEMBER 31, 1992 FORM 10-Q/A QUARTERLY REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> SEP-30-1993
<PERIOD-END> DEC-31-1992
<CASH> 6,886
<SECURITIES> 0
<RECEIVABLES> 102,749
<ALLOWANCES> 7,001
<INVENTORY> 73,141
<CURRENT-ASSETS> 196,651
<PP&E> 165,502
<DEPRECIATION> 100,667
<TOTAL-ASSETS> 626,892
<CURRENT-LIABILITIES> 151,738
<BONDS> 449,756
<COMMON> 0
0
24,311
<OTHER-SE> 1,087
<TOTAL-LIABILITY-AND-EQUITY> 626,892
<SALES> 88,211
<TOTAL-REVENUES> 141,152
<CGS> 62,485
<TOTAL-COSTS> 120,987
<OTHER-EXPENSES> (349)
<LOSS-PROVISION> 390
<INTEREST-EXPENSE> 17,289
<INCOME-PRETAX> 2,527
<INCOME-TAX> 1,215
<INCOME-CONTINUING> 1,312
<DISCONTINUED> 0
<EXTRAORDINARY> 700
<CHANGES> 0
<NET-INCOME> 1,472
<EPS-PRIMARY> (.04)
<EPS-DILUTED> (.04)
</TABLE>
