UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(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, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT
For the transition period from __________________ to ______________________
Commission File Number: 1-10726
WINSTAR COMMUNICATIONS, INC.
(Exact name of small business issuer as specified in its charter)
Delaware 13-3585278
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
230 Park Ave., Suite 2700, New York, NY 10169
(Address of principal executive offices)
(212) 584-4000
(Registrant's telephone number)
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(Former name, former address and former fiscal year end
if changed since last report)
Indicate by checkmark 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 _
State the number of shares outstanding of each of the issuer's classes of common
stock, as of June 4, 1997: 32,969,538
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FORM 10-Q/A
WINSTAR COMMUNICATIONS, INC.
TABLE OF CONTENTS
PAGE
PART I. Financial Information
Item 1. Amendment to Financial Statements
Amendment to Notes to Condensed Consolidated Financial Statements...........3
Signatures..................................................................4
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WINSTAR COMMUNICATIONS, INC.
Notes to Condensed Consolidated Financial Statements
For the Three Months Ended March 31, 1997
(unaudited)
The Notes to the Condensed Consolidated Financial Statements of WinStar
Communications, Inc. for the three months ended March 31, 1997 are hereby
amended to add the following note:
8. Condensed Financial Information of WinStar Equipment Corp.
The Company's wholly-owned subsidiary, WinStar Equipment Corp. ("WEC"),
a special purpose corporation which was formed to facilitate the financing and
purchase of telecommunications equipment and inventory ("designated equipment"),
received $200 million in gross proceeds from the issuance and sale of its 12.5%
Guaranteed Senior Secured Notes in the 1997 Debt Placement which was funded
March 18, 1997. WEC has no independent operations other than to function as a
telecommunications equipment leasing company serving the Company and its
telecommunications businesses and operations.
Summary financial information of WEC, which is included in the
condensed consolidated financial statements of the Company, is as follows (in
thousands):
Balance sheet information at March 31, 1997:
Current assets $ 189,164
Long term assets $ 11,770
Current liabilities $ 1,377
Long term liabilities $ 200,000
Statement of operations information for the period ended March 31,
1997, is as follows (in thousands):
Gross revenues $ 0
Cost of sales 0
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Interest expense $ (833)
Interest income 391
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Net loss $ (442)
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SIGNATURES
In accordance with requirements of the Exchange Act, the registrant caused this
amendment to the report to be signed on its behalf by the undersigned, thereunto
duly authorized.
WinStar Communications, Inc.
Registrant
By: /s/ Fredric E. von Stange
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Fredric E. von Stange
Director, Executive Vice President, Chief
Financial Officer (and principal accounting
officer) Dated: June 10, 1997
By: /s/ Timothy R. Graham
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Timothy R. Graham
Executive Vice President Dated: June 10, 1997
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