BUCKEYE TECHNOLOGIES INC
10-Q/A, 1998-06-08
PULP MILLS
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


- -----------------------------------------------------------------------------


                                  FORM 10-Q / A

- -----------------------------------------------------------------------------


QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934


                  For the quarterly period ended March 31, 1998

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                        Commission file number: 33-60032


                            Buckeye Technologies Inc.
                    (formerly Buckeye Cellulose Corporation)
                  incorporated pursuant to the Laws of Delaware

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       Internal Revenue Service -- Employer Identification No. 62-1518973

                     1001 Tillman Street, Memphis, TN 38112
                                  901-320-8100

- -----------------------------------------------------------------------------





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 12,  1998,  there were  outstanding  36,824,596  Common  Shares of the
Registrant.


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<PAGE>


         The registrant  hereby amends Item 6 of Part II of its Quarterly Report
on Form 10-Q for the quarter ended March 31, 1998, to provide restated Financial
Data  Schedules  to reflect the  adoption of FAS 128,  Earnings Per Share and to
reflect the Company's two for one stock split effective February 17, 1998.

         Item 6.  Exhibits and Reports on Form 8-K

         1.    Financial Data Schedule Exhibits
               27.1     Nine months ended March 31, 1996
               27.2     Year ended June 30, 1996
               27.3     Three months ended September 30, 1996
               27.4     Six months ended December 31, 1996
               27.5     Nine months ended March 31, 1997
               27.6     Year ended June 30, 1997
               27.7     Three months ended September 30, 1997
               27.8     Six months ended December 31, 1997



<PAGE>


 




Pursuant to the  requirements of Section 13 or 15(d) 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.


BUCKEYE TECHNOLOGIES INC.


By:       /s/ DAVID B. FERRARO
     -----------------------------------------
David B. Ferraro, Director, President, and Chief Operating Officer
Date: June 2, 1998


By:       /s/ DAVID H. WHITCOMB
     ----------------------------------------
David H. Whitcomb, Sr. Vice President-Finance
Date: June 2, 1998

<TABLE> <S> <C>
                                     
<ARTICLE>                                 5
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<S>                                       <C>
<PERIOD-TYPE>                             9-MOS
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                                   0
                                             0
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<TOTAL-REVENUES>                                  338,825
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<CHANGES>                                               0
<NET-INCOME>                                       29,203
<EPS-PRIMARY>                                        0.69
<EPS-DILUTED>                                        0.69
        

</TABLE>

<TABLE> <S> <C>
                                              
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<S>                                       <C>
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                                   0
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<CHANGES>                                               0
<NET-INCOME>                                       43,061
<EPS-PRIMARY>                                        1.02
<EPS-DILUTED>                                        1.01
        
 
</TABLE>

<TABLE> <S> <C>
                                              
<ARTICLE>                                          5
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<S>                                                <C>
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                                            0
                                                      0
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<TOTAL-LIABILITY-AND-EQUITY>                               533,832
<SALES>                                                    126,514
<TOTAL-REVENUES>                                           126,514
<CGS>                                                       94,196
<TOTAL-COSTS>                                              101,971
<OTHER-EXPENSES>                                               140
<LOSS-PROVISION>                                                 0
<INTEREST-EXPENSE>                                           6,318
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<INCOME-CONTINUING>                                         11,942
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<CHANGES>                                                        0
<NET-INCOME>                                                11,942
<EPS-PRIMARY>                                                 0.31
<EPS-DILUTED>                                                 0.31
        

</TABLE>

<TABLE> <S> <C>
                                              
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                                            0
                                                      0
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<TOTAL-COSTS>                                              218,135
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<INCOME-CONTINUING>                                         24,699
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<CHANGES>                                                        0
<NET-INCOME>                                                24,699
<EPS-PRIMARY>                                                 0.64
<EPS-DILUTED>                                                 0.63
        

</TABLE>

<TABLE> <S> <C>
                                              
<ARTICLE>                                          5
<MULTIPLIER>                                                  1000
                                                    
<S>                                                <C>
<PERIOD-TYPE>                                      9-MOS
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                                            0
                                                      0
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</TABLE>

<TABLE> <S> <C>
                                              
<ARTICLE>                                          5
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<PP&E>                                                     469,629
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                                            0
                                                      0
<COMMON>                                                       216
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<EPS-PRIMARY>                                                 1.40
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</TABLE>

<TABLE> <S> <C>
                                              
<ARTICLE>                                          5
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<S>                                                <C>
<PERIOD-TYPE>                                      3-MOS
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<PERIOD-END>                                       SEP-30-1997
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<PP&E>                                                     477,151
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                                            0
                                                      0
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<TOTAL-LIABILITY-AND-EQUITY>                               722,817
<SALES>                                                    153,313
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<CGS>                                                      111,172
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<CHANGES>                                                        0
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<EPS-PRIMARY>                                                 0.35
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</TABLE>

<TABLE> <S> <C>
                                              
<ARTICLE>                                          5
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<S>                                                <C>
<PERIOD-TYPE>                                      6-MOS
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                                            0
                                                      0
<COMMON>                                                       216
<OTHER-SE>                                                 140,834
<TOTAL-LIABILITY-AND-EQUITY>                               720,458
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<EPS-PRIMARY>                                                 0.71
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</TABLE>


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