<PAGE>
FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
(Mark One)
[x] Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange
Act of 1934.
For the Quarterly Period ended MARCH 31, 1996 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 0-13381
MYLEX CORPORATION
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(Exact name of registrant as specified in its charter)
FLORIDA 59-2291597
- ------------------------------- ----------------------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
34551 Ardenwood Blvd., Fremont, California 94555
___________________________________________ _______
(Address of principal executive offices) ZIP Code
Registrant's telephone number (including area code): (510) 796-6100
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 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
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APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.
Common Stock, $.01 par value 19,844,786 shares
____________________________ __________________
Class Outstanding at March 31,1996
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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 report to be signed on its
behalf by the undersigned, thereunto duly authorized, in Fremont, California, on
the 17th day of May 1996.
MYLEX CORPORATION
By /s/ Colleen Gray
_____________________
Colleen Gray
Vice President of Finance and
Chief Financial Officer
2
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INDEX TO EXHIBITS
Mylex Corporation
Quarterly Report on Form 10-Q/A
Sequentially
Exhibit No. Description Numbered Page
- ----------- ------------------------- -------------
27.0 FINANCIAL DATA SCHEDULE 4-7
3
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MYLEX CORPORATION
CONSOLIDATED STATEMENT OF CASH FLOWS, THREE MONTHS ENDED
UNAUDITED
(IN $000'S)
MAR 31 MAR 31
1996 1995
----------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME $ 5,125 $ 2,104
TAX BENEFIT RELATED TO DISQUALIFYING
DISPOSITIONS OF STOCK OPTIONS 383 --
DEPRECIATION AND AMORTIZATION 458 319
AMORTIZATION OF DISCOUNT/PREMIUM ON
SHORT-TERM MARKETABLE INVESTMENTS (42) --
CHANGES IN OPERATING ASSETS & LIABILITIES
ACCOUNTS RECEIVABLE, NET (5,494) (4,414)
INVENTORIES (15,461) (2,092)
PREPAID EXPENSES AND
OTHER CURRENT ASSETS (5) (481)
ACCOUNTS PAYBLE 11,950 1,843
ACCRUED LIABILITIES 2,645 1,294
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NET CASH (USED) PROVIDED BY OPERATING ACTIVITIES (441) (1,427)
CASH FLOWS FROM INVESTING ACTIVITIES:
CAPITAL EXPENDITURES (1,206) (308)
DECREASE(INCREASE) IN OTHER ASSETS (22) 35
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NET CASH (USED)PROVIDED BY INVESTING ACTIVITIES (1,228) (273)
CASH FLOWS FROM FINACING ACTIVITIES:
(REPAYMENTS) BORROWINGS AGAINST
LINE OF CREDIT -- (1,850)
REPAYMENT OF CAPITAL LEASE OBLIGATIONS (104) (102)
EXERCISE OF STOCK OPTIONS 463 496
-------- ----------
NET CASH PROVIDED(USED) BY FINANCING ACTIVITIES 359 (1,456)
-------- ----------
NET CHANGE IN CASH AND EQUIVALENT (1,310) (3,156)
CASH AND CASH EQUIVALENTS: AT BEGINNING
OF PERIOD $11,733 $ 8,792
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CASH AND CASH EQUIVALENTS: AT END OF PERIOD $10,423 $5,636
--------- ---------
--------- ---------
CASH PAID DURING THE PERIOD:
CASH PAID FOR INTEREST $6 $57
CASH PAID FOR INCOME TAXES $795 $570
SEE NOTES TO FINANCIAL STATEMENTS
4
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> MAR-31-1996
<CASH> 10,413
<SECURITIES> 25,750
<RECEIVABLES> 29,534
<ALLOWANCES> (959)
<INVENTORY> 41,982
<CURRENT-ASSETS> 111,178
<PP&E> 8,570
<DEPRECIATION> (4,801)
<TOTAL-ASSETS> 115,081
<CURRENT-LIABILITIES> 33,142
<BONDS> 0
0
0
<COMMON> 198
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 81,867
<SALES> 48,497
<TOTAL-REVENUES> 49,667
<CGS> 29,967
<TOTAL-COSTS> 40,319
<OTHER-EXPENSES> 60
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (424)<F1>
<INCOME-PRETAX> 8,542
<INCOME-TAX> 3,417
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 5,125
<EPS-PRIMARY> .24
<EPS-DILUTED> .24
<FN>
<F1>Net of $430K of interest income and $6K of interest expense.
</FN>
</TABLE>
