SECURITIES AND EXCHANGE COMMISSION
Washington , D.C. 20549
Form 10-QA
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarter Ended May 31, 1996
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number 1-10228
CABLETRON SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware 04-2797263 (State or other
jurisdiction of (I.R.S. Employer incorporation or organization)
identification no.)
35 Industrial Way, Rochester, New Hampshire 03867
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code: (603) 332-9400
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 -
As of July 8, 1996 there were 72,465,931 shares of the Registrant's common stock
outstanding.
This document contains 12 pages
Exhibit index on page 11
<PAGE>
CORRECTED BALANCE SHEEETS
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
CABLETRON SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands of dollars)
(unaudited)
May 31,1996 February 29, 1996
Assets
Current Assets:
Cash and cash equivalents $ 169,309 $ 98,713
Short-term investments 132,462 154,827
Accounts receivable, net 180,350 147,934
Inventories 161,933 153,625
Deferred taxes 38,319 38,315
Prepaid expenses and other assets 32,851 30,930
---------- ---------
Total current assets 715,224 624,344
Long-term investments 171,620 153,424
Property, plant and equipment, net 158,923 150,028
Long-term deferred taxes 12,363 23,473
---------- ---------
Total assets $1,058,130 $951,269
========== ========
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 49,701 $ 32,811
Accrued expenses 119,023 113,005
Income taxes payable 42,783 18,536
--------- ---------
Total current liabilities 211,507 164,352
Deferred taxes --- 9,088
--------- ---------
Total liabilities 211,507 173,440
--------- ---------
Stockholders' equity:
Preferred stock, $1.00 par value.
Authorized 2,000 shares;
none issued --- ---
Common stock $0.01 par value.
Authorized 240,000 shares;
issued and outstanding 72,283
and 72,234, respectively 723 722
Additional paid-in capital 141,502 135,943
Retained earnings 704,868 642,197
-------- --------
847,093 778,862
Cumulative translation adjustment (470) (1,033)
-------- --------
Total stockholders' equity 846,623 777,829
-------- --------
Total liabilities and
stockholders' equity $1,058,130 $951,269
========== ========
<PAGE>
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 thereunto duly authorized.
CABLETRON SYSTEMS, INC.
(Registrant)
July 17, 1996 /s/ Craig R. Benson
Date -------------------
Craig R. Benson
Chairman of the Board, Treasurer,
and Chief Operating Officer
July 17, 1996 /s/ David J. Kirkpatrick
Date ------------------------
David J. Kirkpatrick
Director of Finance and Chief
Financial Officer
