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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
(Mark One)
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|x| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- --- EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 1999
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period ______________ to ________________
Commission file number 0-20763
McLEODUSA INCORPORATED
(Exact name of registrant as specified in its charter)
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<S> <C>
Delaware 42-1407240
(State of Incorporation) (IRS Employer Identification No.)
McLeodUSA Technology Park
6400 C Street SW
P.O. Box 3177
Cedar Rapids, Iowa 52406-3177
(Address of principal executive office) (Zip Code)
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319-364-0000
(Registrant's telephone number,
including area code)
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
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filing requirements for the past 90 days. Yes |x| No
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The number of shares outstanding of each class of the issuer's common stock
as of November 2, 1999:
Common Stock Class A: ($.01 par value)......... 155,298,043 shares
Common Stock Class B: ($.01 par value)......... None
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EXPLANATORY NOTE
Exhibit 27.1 to the Quarterly Report on Form 10-Q of McLeodUSA Incorporated
(File Number 0-20763) for the quarterly period ended September 30,
1999, filed with the SEC on November 15, 1999, is hereby amended and restated in
its entirety by the information set forth herein on Exhibit 27.1 to this Form
10-Q/A. Exhibit 27.1 has been amended to reflect a [MULTIPLIER] of 1,000 and to
apply such [MULTIPLIER] to the information presented.
2
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SIGNATURES
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.
McLEODUSA INCORPORATED
(registrant)
Date: November 16, 1999 By: /s/ Stephen C. Gray
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Stephen C. Gray
President and Chief Operating Officer
Date: November 16, 1999 By: /s/ J. Lyle Patrick
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J. Lyle Patrick
Chief Financial Officer
3
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INDEX TO EXHIBITS
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<CAPTION>
Sequentially
Exhibit Numbered
Number Exhibit Description Page
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<S> <C> <C>
27.1 Financial Data Schedule.
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4
<TABLE> <S> <C>
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<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
unaudited consolidated financial statements of McLeodUSA Incorporated and
subsidiaries for the three and nine months ended September 30, 1999 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 9-MOS
<FISCAL-YEAR-END> DEC-31-1999 DEC-31-1999
<PERIOD-START> JUL-01-1999 JAN-01-1999
<PERIOD-END> SEP-30-1999 SEP-30-1999
<CASH> 885,200 885,200
<SECURITIES> 577,800 577,800
<RECEIVABLES> 219,500 219,500
<ALLOWANCES> 38,800 38,800
<INVENTORY> 32,000 32,000
<CURRENT-ASSETS> 1,751,500 1,751,500
<PP&E> 1,237,200 1,237,200
<DEPRECIATION> 142,200 142,200
<TOTAL-ASSETS> 4,173,100 4,173,100
<CURRENT-LIABILITIES> 271,700 271,700
<BONDS> 1,801,200 1,801,200
1,000,000 1,000,000
10 10
<COMMON> 1,500 1,500
<OTHER-SE> 1,064,000 1,064,000
<TOTAL-LIABILITY-AND-EQUITY> 4,173,100 4,173,100
<SALES> 241,100 644,900
<TOTAL-REVENUES> 241,100 644,900
<CGS> 121,900 327,400
<TOTAL-COSTS> 121,900 327,400
<OTHER-EXPENSES> 150,500 397,000
<LOSS-PROVISION> 5,400 16,000
<INTEREST-EXPENSE> 36,800 102,500
<INCOME-PRETAX> (58,400) (167,300)
<INCOME-TAX> 0 0
<INCOME-CONTINUING> (58,400) (167,300)
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> (58,400) (167,300)
<EPS-BASIC> (0.41) (1.18)
<EPS-DILUTED> (0.41) (1.18)
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