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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
____________________
Date of Report (Date of Earliest Event Reported): February 1, 1999
CALCOMP TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-16071 06-0888312
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
2411 West La Palma Avenue, Anaheim, CA 92801
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code: (714) 821-2000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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The attached unaudited pro forma condensed financial information is hereby
filed as a supplement to Item 7 of the Registrant's Current Report on Form 8-K
filed with the Securities and Exchange Commission on February 16, 1999.
On February 1, 1999 the Registrant sold the operating assets and certain
liabilities of its Input Technologies Division (the "Division") to GTCO
Corporation. Subsequently, the Registrant filed a Current Report on Form 8-K
with the Securities and Exchange Commission on February 16, 1999 disclosing the
Registrant's disposition of the Division.
The Registrant's Board of Directors has adopted a plan for orderly shutdown
and liquidation, and the Registrant is in the process of selling or liquidating
all of its non-CrystalJet assets. The Registrant has ceased all manufacturing,
sales and marketing activities and has significantly scaled back its operations
to a level necessary to complete the liquidation of its assets. On April 13,
1999, the Registrant filed its Form 10-K for the fiscal year ended December 27,
1998 under which the Registrant adopted the liquidation basis of accounting.
Consequently, the disclosure in this Form 8-K/A of the pro forma financial
information relating to the disposition of the Division includes only a pro
forma consolidated statement of net liabilities in liquidation. A pro forma
consolidated statement of operations is not presented as it would not provide
meaningful information.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial statements of businesses acquired.
Not applicable.
(b) Unaudited pro forma consolidated financial information.
The following sets forth the unaudited pro forma consolidated
statement of net liabilities in liquidation of the Registrant as
of December 27, 1998 which reflects the disposition of the
Division. The above transaction has been reflected in the
proforma consolidated statement of net liabilities in liquidation
as of December 27, 1998 set forth below assuming that the
transaction had been consummated as of that date.
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CALCOMP TECHNOLOGY, INC.
(In Process of Liquidation)
PRO FORMA CONSOLIDATED STATEMENT OF NET LIABILITIES IN LIQUIDATION
(Unaudited)
December 27, 1998
(In thousands, except per share data)
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<CAPTION>
Historical Adjustment (1) Pro forma
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<S> <C> <C> <C>
ASSETS:
Cash.......................................... $ 3,280 $ 6,500 $ 9,780
Accounts receivable........................... 7,775 7,775
Inventories................................... 5,966 5,966
Prepaid expenses and other assets............. 1,033 1,033
Net assets (liabilities) held for sale........ 1,430 (6,500) (5,070)
Property, plant and equipment................. 2,455 2,455
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Total assets........................... 21,939 21,939
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LIABILITIES:
Accounts payable.............................. 12,308 12,308
Accrued salaries and related expenditures..... 20,697 20,697
Operating expenses during liquidation period.. 21,647 21,647
Commitment cancellation costs................. 15,433 15,433
Other liabilities............................. 16,854 16,854
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Total liabilities...................... 86,939 86,939
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Net liabilities in liquidation................ $(65,000) $ (65,000)
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Number of common shares outstanding........... 47,121 47,121
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Net assets in liquidation per share........... $(1.38) $(1.38)
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(1) To reflect the cash proceeds received from the sale of the Division on
February 1, 1999.
(c) Exhibits.
Not applicable.
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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 hereunto duly authorized.
Dated: April 19, 1999 CALCOMP TECHNOLOGY, INC.
By: /s/ JOHN J. MILLERICK
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John J. Millerick
Senior Vice President and Chief Financial
Officer
