10-Q/A

   1
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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                   FORM 10-Q/A

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

     FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1999 OR

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

     FOR THE TRANSITION PERIOD FROM               TO

     COMMISSION FILE NUMBER: 0-28074


                               SAPIENT CORPORATION
             (Exact Name of Registrant as Specified in Its Charter)

                 DELAWARE                                      04-3130648
     (State or Other Jurisdiction of                        (I.R.S. Employer
      Incorporation or Organization)                       Identification No.)

  ONE MEMORIAL DRIVE, CAMBRIDGE, MA                           02142
   (Address of Principal Executive                          (Zip Code)
              Offices)


                                  617-621-0200
              (Registrant's Telephone Number, Including Area Code)


                                       N/A
   (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 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 10, 1999, there were 27,868,320 shares of Common Stock, $.01 par
value, outstanding.

================================================================================

   2


This Amendment on Form 10-Q/A to the Registrant's Quarterly Report on Form 10-Q
as filed by the Registrant on May 14, 1999 (the "Quarterly Report") amends and
restates Part II, Item 6 of the Quarterly Report as follows:

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K.

     (a)  Exhibits

          11.1 Computation of shares used in computing Basic and Diluted Net
          Income per Share

          27.1 Financial data schedule for the periods ended December 31, 1998.

          27.2 Financial data schedule for the periods ended September 30, 1998.

          27.3 Financial data schedule for the periods ended June 30, 1998.

          27.4 Financial data schedule for the period ended March 31, 1998.

          27.5 Financial data schedule for the periods ended December 31, 1997.

          27.6 Financial date schedule for the periods ended September 30, 1997.

          27.7 Financial data schedule for the periods ended June 30, 1997.

          27.8 Financial data schedule for the period ended March 31, 1997.

     (b)  Reports on Form 8-K.

          On February 23, 1999, the Company filed Amendment No. 2 on Form 8-K/A
("Amendment No. 2") to the Current Report on Form 8-K/A as filed on August 31,
1998 and amended on November 4, 1998 ("Amendment No. 1"), for the purpose of
amending and restating the pro forma financial information previously reported
in Amendment No. 1. The Company filed the following financial statements with
Amendment No. 2:

          Pro Forma Condensed Consolidated Balance Sheet as of June 30, 1998

          Pro Forma Condensed Consolidated Statement of Operations for the six
          months ended June 30, 1998

          Pro Forma Condensed Consolidated Statement of Operations for the year
          ended December 31, 1997

          Notes to the Pro Forma Combined Condensed Financial Statements


                                       1


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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.



                                             SAPIENT CORPORATION

Date: May 19, 1999                 By  /s/ JERRY A. GREENBERG
                                       -------------------------------------
                                                  JERRY A. GREENBERG
                                                  CO-CHIEF EXECUTIVE OFFICER
                                                  CO-CHAIRMAN OF THE BOARD


Date: May 19, 1999                 By  /s/ SUSAN D. JOHNSON
                                       -------------------------------------
                                                  SUSAN D. JOHNSON
                                                  CHIEF FINANCIAL OFFICER




                                       2

EX-27.1

 

<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   3-MOS                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1998
<PERIOD-END>                               DEC-31-1998             DEC-31-1998
<CASH>                                      39,320,129              39,320,129
<SECURITIES>                                52,500,357              52,500,357
<RECEIVABLES>                               53,653,037              53,653,037
<ALLOWANCES>                                   550,000                 550,000
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                           152,630,218             152,630,218
<PP&E>                                      24,684,735              24,684,735
<DEPRECIATION>                              10,237,961              10,237,961
<TOTAL-ASSETS>                             187,701,706             187,701,706
<CURRENT-LIABILITIES>                       30,851,615              30,851,615
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       271,067                 271,067
<OTHER-SE>                                 154,543,233             154,543,233
<TOTAL-LIABILITY-AND-EQUITY>               187,701,706             187,701,706
<SALES>                                     53,789,917             164,871,579
<TOTAL-REVENUES>                            53,789,917             164,871,579
<CGS>                                                0                       0
<TOTAL-COSTS>                               49,463,647             149,774,697
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             711,696               2,918,616
<INCOME-PRETAX>                              5,037,966              18,015,498
<INCOME-TAX>                                 3,894,688               8,659,570
<INCOME-CONTINUING>                          1,143,278               9,355,928
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 1,143,278               9,355,928
<EPS-PRIMARY>                                     0.04                    0.36
<EPS-DILUTED>                                     0.04                    0.33
        

 

EX-27.2

 

<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   3-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1998
<PERIOD-END>                               SEP-30-1998             SEP-30-1998
<CASH>                                      24,740,479              24,740,479
<SECURITIES>                                62,625,083              62,625,083
<RECEIVABLES>                               44,388,847              44,388,847
<ALLOWANCES>                                   525,000                 525,000
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                           134,115,322             134,115,322
<PP&E>                                      20,823,291              20,823,291
<DEPRECIATION>                               7,069,112               7,069,112
<TOTAL-ASSETS>                             170,432,591             170,432,591
<CURRENT-LIABILITIES>                       22,757,303              22,757,303
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       262,147                 262,147
<OTHER-SE>                                 146,270,158             146,270,158
<TOTAL-LIABILITY-AND-EQUITY>               170,432,591             170,432,591
<SALES>                                     43,066,440             111,081,662
<TOTAL-REVENUES>                            43,066,440             111,081,662
<CGS>                                                0                       0
<TOTAL-COSTS>                               46,072,085             100,311,050
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             940,743               2,206,920
<INCOME-PRETAX>                            (2,064,902)              12,977,532
<INCOME-TAX>                                 (667,984)               4,764,882
<INCOME-CONTINUING>                        (1,396,918)               8,212,650
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                               (1,396,918)               8,212,650
<EPS-PRIMARY>                                   (0.05)                    0.33
<EPS-DILUTED>                                   (0.05)                    0.30
        

 

EX-27.3

 

<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   3-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1998
<PERIOD-END>                               JUN-30-1998             JUN-30-1998
<CASH>                                      68,284,035              68,284,035
<SECURITIES>                                16,852,574              16,852,574
<RECEIVABLES>                               40,926,922              40,926,922
<ALLOWANCES>                                   425,000                 425,000
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                           128,099,782             128,099,782
<PP&E>                                      14,380,705              14,380,705
<DEPRECIATION>                               6,336,867               6,336,867
<TOTAL-ASSETS>                             136,446,885             136,446,885
<CURRENT-LIABILITIES>                       12,433,608              12,433,608
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       254,132                 254,132
<OTHER-SE>                                 122,683,522             122,683,522
<TOTAL-LIABILITY-AND-EQUITY>               136,446,885             136,446,885
<SALES>                                     36,419,866              68,015,222
<TOTAL-REVENUES>                            36,419,866              68,015,222
<CGS>                                                0                       0
<TOTAL-COSTS>                               28,904,416              54,238,965
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             676,147               1,266,177
<INCOME-PRETAX>                              8,191,597              15,042,434
<INCOME-TAX>                                 2,928,917               5,432,866
<INCOME-CONTINUING>                          5,262,680               9,609,568
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 5,262,680               9,609,568
<EPS-PRIMARY>                                     0.21                     .38
<EPS-DILUTED>                                     0.19                     .35
        

 

EX-27.4

 

<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                      37,350,426
<SECURITIES>                                23,875,397
<RECEIVABLES>                               31,905,997
<ALLOWANCES>                                   425,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                            95,433,284
<PP&E>                                      12,739,889
<DEPRECIATION>                               5,477,356
<TOTAL-ASSETS>                             103,041,742
<CURRENT-LIABILITIES>                       14,035,215
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       245,680
<OTHER-SE>                                  87,706,584
<TOTAL-LIABILITY-AND-EQUITY>               103,041,742
<SALES>                                     31,595,356
<TOTAL-REVENUES>                            31,595,356
<CGS>                                                0
<TOTAL-COSTS>                               25,334,549
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             590,030
<INCOME-PRETAX>                              6,850,837
<INCOME-TAX>                                 2,503,949
<INCOME-CONTINUING>                          4,346,888
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 4,346,888
<EPS-PRIMARY>                                     0.17
<EPS-DILUTED>                                     0.16
        

 

EX-27.5

 

<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   3-MOS                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997
<PERIOD-END>                               DEC-31-1997             DEC-31-1997
<CASH>                                      47,314,306              47,314,306
<SECURITIES>                                17,091,604              17,091,604
<RECEIVABLES>                               26,270,588              26,270,588
<ALLOWANCES>                                   425,000                 425,000
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                            91,937,511              91,937,511
<PP&E>                                      11,309,950              11,309,950
<DEPRECIATION>                               4,733,621               4,733,621
<TOTAL-ASSETS>                              98,866,851              98,866,851
<CURRENT-LIABILITIES>                       15,528,519              15,528,519
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       236,405                 236,405
<OTHER-SE>                                  82,071,026              82,071,026
<TOTAL-LIABILITY-AND-EQUITY>                98,866,851              98,866,851
<SALES>                                              0                       0
<TOTAL-REVENUES>                            27,528,648              91,420,609
<CGS>                                                0                       0
<TOTAL-COSTS>                               22,632,635              73,273,788
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             496,430               2,064,694
<INCOME-PRETAX>                              5,392,446              20,211,515
<INCOME-TAX>                                 2,105,830               7,702,847
<INCOME-CONTINUING>                          3,286,616              12,508,668
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 3,286,616              12,508,668
<EPS-PRIMARY>                                     0.13                    0.51
<EPS-DILUTED>                                     0.12                    0.47
        

 

EX-27.6

 

<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   3-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997
<PERIOD-END>                               SEP-30-1997             SEP-30-1997
<CASH>                                      39,387,096              39,387,096
<SECURITIES>                                18,519,133              18,519,133
<RECEIVABLES>                               23,196,528              23,196,528
<ALLOWANCES>                                   350,000                 350,000
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                            82,132,600              82,132,600
<PP&E>                                       9,041,438               9,041,438
<DEPRECIATION>                               3,348,434               3,348,434
<TOTAL-ASSETS>                              87,916,492              87,916,492
<CURRENT-LIABILITIES>                        8,353,512               8,353,512
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       233,887                 233,887
<OTHER-SE>                                  76,940,838              76,940,838
<TOTAL-LIABILITY-AND-EQUITY>                87,916,492              87,916,492
<SALES>                                              0                       0
<TOTAL-REVENUES>                            24,913,635              63,891,961
<CGS>                                                0                       0
<TOTAL-COSTS>                               19,895,778              50,641,156
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             478,885               1,568,264
<INCOME-PRETAX>                              5,496,742              14,819,069
<INCOME-TAX>                                 2,076,630               5,597,017
<INCOME-CONTINUING>                          3,420,112               9,222,052
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 3,420,112               9,222,052
<EPS-PRIMARY>                                     0.14                    0.38
<EPS-DILUTED>                                     0.13                    0.35
        

 

EX-27.7

 

<ARTICLE> 5
       
                                                  
<PERIOD-TYPE>                   3-MOS                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997
<PERIOD-END>                               JUN-30-1997             JUN-30-1997
<CASH>                                      52,292,085              52,292,085
<SECURITIES>                                 6,223,775               6,223,775
<RECEIVABLES>                               21,091,226              21,091,226
<ALLOWANCES>                                   350,000                 350,000
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                            80,706,223              80,706,223
<PP&E>                                       7,826,642               7,826,642
<DEPRECIATION>                               2,733,375               2,733,375
<TOTAL-ASSETS>                              85,890,377              85,890,377
<CURRENT-LIABILITIES>                        9,595,304               9,595,304
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                       233,053                 233,053
<OTHER-SE>                                  73,339,172              73,339,172
<TOTAL-LIABILITY-AND-EQUITY>                85,890,377              85,890,377
<SALES>                                              0                       0
<TOTAL-REVENUES>                            21,225,492              39,584,664
<CGS>                                                0                       0
<TOTAL-COSTS>                               16,654,893              31,298,136
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                             568,147               1,089,379
<INCOME-PRETAX>                              5,138,746               9,369,164
<INCOME-TAX>                                 1,899,997               3,520,387
<INCOME-CONTINUING>                          3,238,749               5,848,777
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                 3,238,749               5,848,777
<EPS-PRIMARY>                                     0.13                    0.24
<EPS-DILUTED>                                     0.12                    0.22
        

 

EX-27.5

 

<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                      45,584,828
<SECURITIES>                                12,481,058
<RECEIVABLES>                               17,463,711
<ALLOWANCES>                                   150,000
<INVENTORY>                                          0
<CURRENT-ASSETS>                            76,397,899
<PP&E>                                       6,653,697
<DEPRECIATION>                               2,235,653
<TOTAL-ASSETS>                              80,906,831
<CURRENT-LIABILITIES>                        8,426,637
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       231,989
<OTHER-SE>                                  70,037,602
<TOTAL-LIABILITY-AND-EQUITY>                80,906,831
<SALES>                                              0
<TOTAL-REVENUES>                            18,359,172
<CGS>                                                0
<TOTAL-COSTS>                               14,643,243
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             514,489
<INCOME-PRETAX>                              4,230,418
<INCOME-TAX>                                 1,620,390
<INCOME-CONTINUING>                          2,610,028
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 2,610,028
<EPS-PRIMARY>                                     0.11
<EPS-DILUTED>                                     0.10