<PAGE> 1
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, 2000
-------------------------------------------
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from Not Applicable to
-------------------- ------------------------
Commission file number 0-25890
----------------------------------------------------------
CENTURY BUSINESS SERVICES, INC.
-------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
Delaware 22-2769024
- ------------------------------- --------------------------------------
(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
6480 Rockside Woods Boulevard South, Suite 330, Cleveland, Ohio 44131
- -------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code) 216-447-9000
---------------------------
- --------------------------------------------------------------------------------
Former Name, Former Address and Former Fiscal Year, if Changed since Last Report
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 proceeding 12 months, and (2) has been subject to such filing requirements
for the past 90 days.
Yes [ X ] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:
Outstanding at
Class of Common Stock April 30, 2000
--------------------- --------------
Par value $.01 per share 95,423,629
----------
1
<PAGE> 2
Discussion of Form 10-Q/A, Amended Quarterly Report, Filing
As a result of changes to the data included in the table in Footnote 9 to the
condensed consolidated financial statements, the following replaces, in its
entirety, Footnote 9 included in Century's previously filed quarterly report on
Form 10-Q for the period ended March 31, 2000.
9. SEGMENT REPORTING
Statement of Financial Accounting Standards No. 131, "Disclosures about
Segments of an Enterprise and Related Information," established
standards for reporting selected information about operating segments,
products and services, geographic areas and major customers.
Century's business units have been aggregated into four reportable
segments: business solutions; benefits and insurance; performance
consulting and technology solutions services. Segment information for
the three-month periods ended March 31, 2000 and 1999 is as follows:
<TABLE>
<CAPTION>
For the Three Months Ended March 31, 2000
Business Benefits & Performance Technology Corporate Total
Solutions Insurance Consulting Solutions and Other
---------- ------------- -------------- ------------- ----------- -------------
<S> <C> <C> <C> <C> <C> <C>
Revenue $ 108,010 $ 46,873 $ 5,224 $ 12,013 $ - $ 172,120
Operating income (1) 31,425 9,814 1,692 (229) - 42,702
Corporate gen. and admin. (1) - - - - 8,519 8,519
Depreciation and amortization 1,588 581 38 119 8,438 10,764
Interest expense 66 68 8 (2) 2,555 2,695
Other income, net (173) (297) (8) (56) (368) (902)
Pre-tax income (loss) $ 29,944 $ 9,462 $ 1,654 $ (290) $ (19,144) $ 21,626
<CAPTION>
For the Three Months Ended March 31, 1999
Business Benefits & Performance Technology Corporate Total
Solutions Insurance Consulting Solutions and Other
---------- ------------- -------------- ------------- ----------- -------------
<S> <C> <C> <C> <C> <C> <C>
Revenue $ 86,740 $ 36,365 $ 3,957 $ 11,310 $ - $ 138,372
Operating income 25,400 5,689 1,570 1,083 - 33,742
Corporate gen. and admin. - - - - 3,100 3,100
Merger-related - - - - 1,518 1,518
Depreciation and amortization 1,172 698 25 84 2,404 4,383
Interest expense 113 158 - 86 940 1,297
Other income, net (302) (596) (69) (88) (329) (1,384)
Pre-tax income (loss) $ 24,417 $ 5,429 $ 1,614 $ 1,001 $ (7,633) $ 24,828
<FN>
(1) includes unusual expenses and credits as discussed in Footnote 7 to the
condensed consolidated financial statements.
</TABLE>
2
<PAGE> 3
SIGNATURE
---------
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.
Century Business Services, Inc.
-------------------------------
(Registrant)
Date: May 22, 2000 By: /s/ Jerome P. Grisko, Jr.
------------------- -------------------------------
Jerome P. Grisko, Jr
President
3
