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Previous: MANUFACTURERS LIFE INSURANCE CO OF NORTH AMERICA SEP ACC A, 485BPOS, 1998-04-29 |
Next: UNITIL CORP, 35-CERT, 1998-04-29 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Mark one)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the fiscal year ended December 31, 1997
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from __ to__.
Commission File No. 0-20698
BROOKTROUT TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 04-2184792
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
410 FIRST AVENUE, NEEDHAM, MASSACHUSETTS 02194
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code: (781) 449-4100
Securities registered pursuant to Section 12(b) of the Act: None
NAME OF EXCHANGE
TITLE OF EACH CLASS ON WHICH REGISTERED
--------- ----------
Securities registered pursuant to Section 12(g) of the Act: Common Stock
(Title of Class)
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 by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]
As of March 20, 1998, the aggregate market value of the voting stock
held by non-affiliates of the registrant was approximately $164 million, based
on the closing price on such date of the Company's Common Stock on the Nasdaq
National Market ("Nasdaq").
As of March 20, 1998, 10,753,834 shares of Common Stock, $.01 par value
per share, were outstanding.
<PAGE> 2
Item 14 of the Annual Report on Form 10-K for the year ended December 31, 1997,
filed by Brooktrout Technology, Inc. is hereby amended to include restated
financial data schedules as set forth below:
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM
8-K
(a)(3) Exhibits
The following exhibits are filed as part of this report.
Exhibit
No. Title
- ----------------------------------------------------------------------------
23.1 Independent Auditors' Consent
27.2 Restated Financial Data Schedules for Fiscal Year ended 1996 and
for Quarters 1, 2 and 3 of 1996
27.3 Restated Financial Data Schedules for Quarters 1, 2 and 3 of 1997
<PAGE> 3
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
BROOKTROUT TECHNOLOGY, INC.
By: /s/ Eric R. Giler
---------------------------
Eric R. Giler
President
Date: April 29, 1998
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant in the capacities and on the dates indicated.
Signatures Title Date
- ---------- ----- ----
/s/ Eric R. Giler President and Director (Principal April 29, 1998
- --------------------- Executive Officer)
Eric R. Giler
/s/ Robert C. Leahy Vice President of Finance and April 29, 1998
- ---------------------- Operations and Treasurer
Robert C. Leahy (Principal Financial and
Accounting Officer)
/s/ David W. Duehren Vice President and Director April 29, 1998
- ----------------------
David W. Duehren
/s/ Patrick T. Hynes Vice President and Director April 29, 1998
- ----------------------
Patrick T. Hynes
/s/ Robert G. Barrett Director April 29, 1998
- ----------------------
Robert G. Barrett
/s/ David L. Chapman Director April 29, 1998
- ----------------------
David L. Chapman
/s/ W. Brooke Tunstall Director April 29, 1998
- ----------------------
W. Brooke Tunstall
<PAGE> 1
EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statement No.
33-55708 on Form S-8, and in Registration Statement No. 33-55900 on Form S-8 of
our reports dated February 11, 1998, appearing in and incorporated by reference
in the Annual Report on Form 10-A of Brooktrout Technology, Inc. for the year
ended December 31, 1997.
DELOITTE & TOUCHE LLP
Boston, Massachusetts
April 29, 1998
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
Exhibit 27.2
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM BROOKTROUT
TECHNOLOGY, INC.'S CONDENSED CONSOLIDATED BALANCE SHEET AND STATEMENTS OF INCOME
FOR THE PERIOD ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH BROOKTRUST TECHNOLOGY, INC.'S 10-K FOR THE PERIOD ENDED
DECEMBER 31, 1996.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C> <C>
<PERIOD-TYPE> 12-MOS 3-MOS 3-MOS 3-MOS
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996 DEC-31-1996
<PERIOD-START> JAN-01-1996 JAN-01-1996 APR-01-1996 JUL-01-1996
<PERIOD-END> DEC-31-1996 MAR-31-1996 JUN-30-1996 SEP-30-1996
<CASH> 30,738 14,794 16,683 28,060
<SECURITIES> 8,976 7,585 7,262 7,261
<RECEIVABLES> 7,107 5,718 6,599 7,374
<ALLOWANCES> 524 504 483 497
<INVENTORY> 5,504 4,346 5,836 5,272
<CURRENT-ASSETS> 53,950 33,421 36,886 48,623
<PP&E> 5,298 3,695 4,030 4,537
<DEPRECIATION> 1,438 951 1,059 1,239
<TOTAL-ASSETS> 58,366 36,739 40,453 52,482
<CURRENT-LIABILITIES> 10,542 8,902 11,963 10,714
<BONDS> 0 0 0 0
0 0 0 0
0 0 0 0
<COMMON> 107 97 98 105
<OTHER-SE> 0 0 0 0
<TOTAL-LIABILITY-AND-EQUITY> 58,366 36,739 40,453 52,482
<SALES> 58,827 11,300 13,445 15,874
<TOTAL-REVENUES> 58,827 11,300 13,445 15,874
<CGS> 26,059 5,097 5,708 7,148
<TOTAL-COSTS> 26,059 5,097 5,708 7,148
<OTHER-EXPENSES> 22,077 2,984 4,490 5,357
<LOSS-PROVISION> 0 0 0 0
<INTEREST-EXPENSE> 0 0 0 0
<INCOME-PRETAX> 11,973 1,926 1,801 3,697
<INCOME-TAX> 5,108 760 1,107 1,479
<INCOME-CONTINUING> 6,865 1,166 694 2,218
<DISCONTINUED> 0 0 0 0
<EXTRAORDINARY> 0 0 0 0
<CHANGES> 0 0 0 0
<NET-INCOME> 6,865 1,166 694 2,218
<EPS-PRIMARY> .69 .12 .07 .22
<EPS-DILUTED> .63 .11 .07 .20
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
Exhibit 27.3
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM BROOKTROUT
TECHNOLOGY, INC.'S CONDENSED CONSOLIDATED BALANCE SHEET AND STATEMENTS OF INCOME
FOR THE PERIOD ENDED MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH BROOKTROUT TECHNOLOGY, INC.'S 10-Q FOR THE PERIOD ENDED
MARCH 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 3-MOS 3-MOS 3-MOS
<FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997
<PERIOD-START> JAN-01-1997 APR-01-1997 JUL-01-1997
<PERIOD-END> MAR-31-1997 JUN-30-1997 SEP-30-1997
<CASH> 32,549 20,865 23,313
<SECURITIES> 7,788 8,309 8,267
<RECEIVABLES> 7,613 11,162 10,673
<ALLOWANCES> 572 1,100 1,270
<INVENTORY> 5,873 8,511 8,690
<CURRENT-ASSETS> 55,163 51,867 54,606
<PP&E> 6,190 8,440 9,190
<DEPRECIATION> 1,681 1,972 2,553
<TOTAL-ASSETS> 60,221 60,831 62,504
<CURRENT-LIABILITIES> 10,823 12,843 13,720
<BONDS> 0 0 0
0 107 0
0 0 0
<COMMON> 107 0 107
<OTHER-SE> 0 0 0
<TOTAL-LIABILITY-AND-EQUITY> 60,221 60,831 62,504
<SALES> 15,070 14,725 19,493
<TOTAL-REVENUES> 15,070 14,725 19,493
<CGS> 6,522 6,543 8,804
<TOTAL-COSTS> 6,522 6,543 8,804
<OTHER-EXPENSES> 6,431 11,118 9,669
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 0 0 0
<INCOME-PRETAX> 2,558 (2,455) 1,347
<INCOME-TAX> 998 (980) 531
<INCOME-CONTINUING> 1,560 (1,475) 816
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 1,560 (1,475) 816
<EPS-PRIMARY> .15 (.14) .08
<EPS-DILUTED> .14 (.13) .07
</TABLE>
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