<PAGE>
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 April 4, 1998.
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from to .
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Commission File Number 0-22561
J E T F A X, I N C.
(Exact name of Registrant as specified in its charter)
Delaware 77-0182451
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
1378 Willow Road, Menlo Park, California 94025
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (650) 324-0600
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 May 11, 1998 there were 11,753,405 shares of common stock, $.01 par
value, outstanding.
This Report on Form 10-Q/A is filed to amend previously submitted Financial
Data Schedules due to a pooling of interests and an accounting principle
change. The filing contains summary financial information restated to give
effect to the merger of the Registrant with DocuMagix, Inc. and to
retroactively restate earnings per share in accordance with the Financial
Accounting Standards Board Statement of Financial Accounting Standards No.
128, "Earnings per Share" ("SFAS 128"). The Company was required to adopt
SFAS 128 in the fourth quarter of fiscal 1997 and restated at that time
earnings per share data for prior periods to conform with SFAS 128.
This Report on Form 10-Q/A includes 10 pages with the Index to Exhibits located
on page 3.
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JETFAX, INC.
INDEX TO
REPORT ON FORM 10-Q/A
FOR QUARTER ENDED APRIL 4, 1998
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Page
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PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.................. 3
Signature......................................... 4
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2
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PART II. OTHER INFORMATION
ITEM 6. Exhibits And Reports On Form 8-K
<TABLE>
<CAPTION>
(a) Exhibits.
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Exhibit
Number Description
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<S> <C>
27.1 Restated Financial Data Schedule.
27.2 Restated Financial Data Schedule.
27.3 Restated Financial Data Schedule.
(b) Reports on Form 8-K. On February 20, 1998 the Registrant filed
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Form 8-K/A as Amendment Number 1 which amended Item 7. Financial
Statements, Pro Forma Financial Information and Exhibits of its
Form 8-K Report filed December 22, 1997 in connection with the
Registrant's acquisition of DocuMagix, Inc.
3
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report on Form 10-Q/A to be signed on its behalf
by the undersigned thereunto duly authorized.
JETFAX, INC.
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(Registrant)
Date: July 9, 1998 By: /s/ ALLEN K. JONES
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Allen K. Jones
Vice President, Finance and
Chief Financial Officer
(Authorized Officer and
Principal Accounting and
Financial Officer)
4
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<TABLE> <S> <C>
<S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION RESTATED TO GIVE EFFECT
TO THE MERGER OF THE REGISTRANT WITH DOCUMAGIX, INC. EXTRACTED FROM FORM 10-K
FOR THE NINE MONTH PERIOD ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS <F1>
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 413
<SECURITIES> 0
<RECEIVABLES> 3,101
<ALLOWANCES> 559
<INVENTORY> 2,454
<CURRENT-ASSETS> 5,571
<PP&E> 1,431
<DEPRECIATION> 716
<TOTAL-ASSETS> 7,092
<CURRENT-LIABILITIES> 5,029
<BONDS> 198
2,726
63
<COMMON> 18
<OTHER-SE> (942)
<TOTAL-LIABILITY-AND-EQUITY> 7,092
<SALES> 10,205
<TOTAL-REVENUES> 14,873
<CGS> 8,441
<TOTAL-COSTS> 8,958
<OTHER-EXPENSES> 2,554<F2>
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 26
<INCOME-PRETAX> (3,577)
<INCOME-TAX> 107
<INCOME-CONTINUING> (3,684)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (3,684)
<EPS-PRIMARY> (0.46)<F3>
<EPS-DILUTED> (0.46)
<FN>
<F1> The Company changed its fiscal year end. The 40-week period from April
1, 1996 to January 4, 1997 is referred to herein as the nine months ended
December 31, 1996 and the reporting year ended January 4, 1997 as ending
on December 31, 1997.
<F2> Item consists of research and development.
<F3> Item consists of basic earnings per share.
</FN>
</TABLE>
<TABLE> <S> <C>
<S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION RESTATED TO GIVE EFFECT
TO THE MERGER OF THE REGISTRANT WITH DOCUMAGIX, INC. PRESENTED ON A PRO FORMA
BASIS FOR THE 1997 QUARTERLY PERIODS AS SHOWN.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 9-MOS <F1> 6-MOS <F1> 3-MOS <F1>
<FISCAL-YEAR-END> DEC-31-1997 DEC-31-1997 DEC-31-1997
<PERIOD-START> JAN-01-1997 JAN-01-1997 JAN-01-1997
<PERIOD-END> SEP-30-1997 JUN-30-1997 MAR-31-1997
<CASH> 10,443 14,683 323
<SECURITIES> 0 0 0
<RECEIVABLES> 4,450<F2> 3,574<F2> 3,306<F2>
<ALLOWANCES> 0 0 0
<INVENTORY> 3,727 3,762 3,356
<CURRENT-ASSETS> 18,933 22,358 7,200
<PP&E> 1,030<F2> 799<F2> 786<F2>
<DEPRECIATION> 0 0 0
<TOTAL-ASSETS> 21,207 23,715 8,992
<CURRENT-LIABILITIES> 4,576 6,329 7,023
<BONDS> 0 165 181
0 0 2,764
0 0 63
<COMMON> 116 116 18
<OTHER-SE> 16,489 17,029 (1,060)
<TOTAL-LIABILITY-AND-EQUITY> 21,207 23,715 8,992
<SALES> 12,269 8,221 4,250
<TOTAL-REVENUES> 17,324 11,029 5,655
<CGS> 8,740 5,797 2,949
<TOTAL-COSTS> 9,304 6,224 3,098
<OTHER-EXPENSES> 4,785<F3> 3,544<F3> 1,265<F3>
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 0 0 0
<INCOME-PRETAX> (3,717) (3,509) (1,589)
<INCOME-TAX> 79 54 47
<INCOME-CONTINUING> (3,796) (3,563) (1,636)
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> (3,796) (3,563) (1,636)
<EPS-PRIMARY> (0.43)<F4> (0.41)<F4> (0.20)<F4>
<EPS-DILUTED> (0.43) (0.41) (0.20)
<FN>
<F1> The Company changed its fiscal year end from March 31 to a 52-53 week
reporting year. Fiscal year 1997 includes 52 weeks. For presentation
purposes, the Company refers to its reporting years ended January 3, 1998
as ending on December 31, 1997.
<F2> Item shown net of allowance, consistent with the balance sheet
presentation.
<F3> Item consists of research and development.
<F4> Item consists of basic earnings per share.
</FN>
</TABLE>
<TABLE> <S> <C>
<S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION RESTATED TO GIVE EFFECT
TO THE MERGER OF THE REGISTRANT WITH DOCUMAGIX, INC. PRESENTED ON A PRO FORMA
BASIS FOR THE 1996 QUARTERLY PERIODS AS SHOWN.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000
<S> <C> <C> <C>
<PERIOD-TYPE> 9-MOS <F1> 6-MOS <F1> 3-MOS <F1>
<FISCAL-YEAR-END> DEC-31-1996 DEC-31-1996 DEC-31-1996
<PERIOD-START> JAN-01-1996 JAN-01-1996 JAN-01-1996
<PERIOD-END> SEP-30-1996 JUN-30-1996 MAR-31-1996
<CASH> 693 1,686 5,229
<SECURITIES> 0 0 0
<RECEIVABLES> 2,515<F2> 2,941<F2> 2,187<F2>
<ALLOWANCES> 0 0 0
<INVENTORY> 3,040 3,469 3,491
<CURRENT-ASSETS> 6,346 8,188 11,690
<PP&E> 579<F2> 473<F2> 303<F2>
<DEPRECIATION> 0 0 0
<TOTAL-ASSETS> 7,767 8,752 12,031
<CURRENT-LIABILITIES> 4,876 4,802 6,713
<BONDS> 0 0 0
2,726 2,610 2,610
63 63 63
<COMMON> 16 18 17
<OTHER-SE> 83 1,259 2,628
<TOTAL-LIABILITY-AND-EQUITY> 7,767 8,752 12,031
<SALES> 10,270 7,097 3,807
<TOTAL-REVENUES> 14,925 10,199 5,484
<CGS> 8,806 6,257 3,309
<TOTAL-COSTS> 9,348 6,666 3,508
<OTHER-EXPENSES> 2,172<F3> 1,258<F3> 657<F3>
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 0 0 0
<INCOME-PRETAX> (3,804) (2,585) (1,218)
<INCOME-TAX> 64 1 0
<INCOME-CONTINUING> (3,868) (2,586) (1,218)
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> (3,868) (2,586) (1,218)
<EPS-PRIMARY> (0.48)<F4> (0.32)<F4> (0.15)<F4>
<EPS-DILUTED> (0.48) (0.32) (0.15)
<FN>
<F1> The Company changed its fiscal year end from March 31 to a 52-53 week
reporting year. The 40-week period from April 1, 1996 to January 4,
1997 is referred to herein as the nine months ended December 31, 1996.
Year to date data is for quarters presented.
<F2> Item shown net of allowance, consistent with the balance sheet
presentation.
<F3> Item consists of research and development.
<F4> Item consists of basic earnings per share.
</FN>
</TABLE>
