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U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): January 4, 2001 (October 31,
2000)
XETA Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Oklahoma 0-16231 73-1130045
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(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1814 West Tacoma, Broken Arrow, Oklahoma 74012
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 918-664-8200
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XETA Corporation
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(Former name or address, if changed since last report.)
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Item 9. Regulation FD Disclosure
The following is the unaudited consolidated statement of operations of the
Company for the three months and twelve months ending October 31, 2000. These
statements appear in this report without accompanying footnotes and therefore
are not in accordance with generally accepted accounting principles. These
statements, complete with accompanying footnotes, will be included in the
Company's audited financial statements to be filed with the Company's Annual
Report on Form 10-K on or before January 29, 2001, and therefore are subject to
and should be read in conjunction therewith.
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XETA TECHNOLOGIES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
<TABLE>
<CAPTION>
For the Three Months For the Twelve Months
Ending October 31, Ending October 31,
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Commercial systems sales $ 15,588,436 $ -- $ 54,198,673 $ --
Lodging systems sales 4,299,616 5,838,177 17,000,599 18,496,957
Installation and service revenues 8,927,859 5,348,476 31,219,629 18,766,095
------------ ------------ ------------ ------------
Net sales and service revenues 28,815,911 11,186,653 102,418,901 37,263,052
------------ ------------ ------------ ------------
Cost of commercial systems 11,014,376 -- 38,606,406 --
Cost of lodging systems 3,092,214 3,585,902 11,171,774 11,066,635
Installation and services costs 6,058,928 3,555,943 21,627,342 12,206,057
------------ ------------ ------------ ------------
Total cost of sales and service 20,165,518 7,141,845 71,405,522 23,272,692
------------ ------------ ------------ ------------
Gross profit 8,650,393 4,044,808 31,013,379 13,990,360
------------ ------------ ------------ ------------
Operating expenses:
Selling, general and administrative 4,624,088 1,543,768 16,050,364 5,136,228
Engineering, research and development 289,572 159,460 997,516 550,122
Amortization 271,200 550,507 1,587,230 1,936,057
------------ ------------ ------------ ------------
Total operating expenses 5,184,860 2,253,735 18,635,110 7,622,407
------------ ------------ ------------ ------------
Income from operations 3,465,533 1,791,073 12,378,269 6,367,953
Interest expense (670,900) -- (2,354,793) --
Interest and other income 127,124 214,362 594,143 664,903
------------ ------------ ------------ ------------
Subtotal (543,776) 214,362 (1,760,650) 664,903
Income before provision for income
taxes 2,921,757 2,005,435 10,617,619 7,032,856
Provision for income taxes 1,142,000 786,000 4,156,000 2,750,000
------------ ------------ ------------ ------------
Net income $ 1,779,757 $ 1,219,435 $ 6,461,619 $ 4,282,856
============ ============ ============ ============
Earnings per share
Basic $ 0.21 $ 0.15 $ 0.77 $ 0.53
============ ============ ============ ============
Diluted $ 0.18 $ 0.13 $ 0.66 $ 0.46
============ ============ ============ ============
Weighted average shares outstanding 8,544,763 7,954,616 8,350,299 8,021,248
============ ============ ============ ============
Weighted average shares equivalents 9,877,639 9,361,732 9,761,703 9,254,442
============ ============ ============ ============
</TABLE>
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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.
XETA Technologies, Inc.
(Registrant)
Dated: January 4, 2001 By: /s/ Robert B. Wagner
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Robert B. Wagner,
Vice President of Finance and
Chief Financial Officer
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
------- -----------
<S> <C>
(1) Underwriting Agreement - None.
(2) Plan of acquisition, reorganization, arrangement, liquidation
or succession - N/A.
(4) Instruments defining rights of security holders, including
indentures - previously filed as Exhibits 3.1, 3.2 and 3.3 to
the registrant's Registration Statement on Form S-1,
Registration No. 33-7841.
(16) Letter on change in certifying accountant - N/A.
(17) Letter on director resignation - N/A.
(20) Other documents or statements to security holders - None.
(23) Consents of experts and counsel - N/A
(24) Power of attorney - None.
(27) Financial Data Schedule - N/A.
(99) Additional exhibits - None.
</TABLE>
