10-K/A

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                FORM 10-K/A No. 1

    (Mark One)

     ---------
         X       ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
     ---------   EXCHANGE ACT OF 1934
                 For the fiscal year ended November 2, 1997.

     ---------
                 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 0-15995

                                 MICROAGE, INC.
             (Exact name of registrant as specified in its charter)

     Delaware                             86-0321346
     (State of incorporation)             (I. R. S. Employer Identification No.)

     2400 South MicroAge Way
     Tempe, AZ                                                        85282
     (Address of principal executive offices)                         (Zip Code)

     Registrant's telephone number, including area code:  (602) 366-2000

           Securities registered pursuant to Section 12(b) of the Act:
                                      None

           Securities registered pursuant to Section 12(g) of the Act:
                     Common stock, $.01 Par Value Per Share
                                (Title of Class)

     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 ~   ~

     Indicate by check mark if disclosure of delinquent  filers pursuant to Item
     405 of Regulation S-K is not contained  herein,  and will not be contained,
     to the best of registrant's  knowledge,  in definitive proxy or information
     statements  incorporated  by reference in Part III of this Form 10-K or any
     amendment to this Form 10-K. [ ]

     The aggregate  market value of the voting stock held by  non-affiliates  of
     the  registrant  was  $287,298,865  at June 26, 1998,  based on the closing
     market  price of the Common  Stock on such date,  as reported by the Nasdaq
     Stock Market.

     The number of shares of the  registrant's  Common Stock (par value $.01 per
     share) outstanding at June 26, 1998 was 19,986,008.

This  Form  10K/A No. 1. for  MicroAge,  Inc.  (the  "Company")  is being  filed
pursuant to  Regulation  S-K Item  601(c)(2)(iii)  to amend the  Financial  Data
Schedules for the three fiscal years and the interim  periods for the two fiscal
years ended  November 2, 1997 due to the  Company's  adoption  of  Statement  of
Financial  Accounting  Standards  No. 128 "Earnings Per Share" which the Company
adopted in the first  quarter of fiscal  1998,  and due to several  acquisitions
which have been accounted for as poolings of interest.  The Company's  financial
statements  and EPS for prior  periods have been restated to comply with the new
standard and to include the accounts and  operations of the acquired  companies.
Accordingly,  Exhibit 27 to the Form 10-K of the  Company is being  replaced  by
Exbibits 27.1, 27.2, and 27.3 included in this Form 10-K/A No. 1.

                                  EXHIBIT INDEX

EX-27.1   Restated  Financial Data Schedule as of and for the year ended October
          29, 1995.

EX-27.2   Restated Financial Data Schedule as of and for the year ended November
          3, 1996.

EX-27.3   Restated Financial Data Schedule as of and for the year ended November
          2, 1997

                                   SIGNATURES

Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities  and
Exchange Act of 1934, as amended,  the  Registrant  has duly caused this amended
report to be signed on its behalf by the undersigned, theunto duly authorized.

                                           MICROAGE, INC.
                                           (Registrant)


Date:  June 30, 1998                   By:
                                           /s/ Jeffrey D. McKeever
                                           -------------------------------------
                                           Jeffrey D. McKeever
                                           Chairman of the Board and
                                           Chief Executive Officer

Date:  June 30, 1998                   By:
                                           /s/  James R. Daniel
                                           -------------------------------------
                                           James R. Daniel
                                           Senior Vice President
                                           Chief Financial Officer and Treasurer

EX-27.1

 

<ARTICLE>                     5
<LEGEND>
                              This   schedule    contains   summary    financial
                              information   extracted   from  the   consolidated
                              financial statements as of and for the fiscal year
                              ended  October 29,  1995,  and is qualified in its
                              entirety by reference to such statements.


<MULTIPLIER>                  1,000
<CURRENCY>                    U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                                                    OCT-29-1995
<PERIOD-START>                                                       OCT-31-1994
<PERIOD-END>                                                         OCT-29-1995
<EXCHANGE-RATE>                                                                1
<CASH>                                                                    14,324
<SECURITIES>                                                                   0
<RECEIVABLES>                                                            233,455
<ALLOWANCES>                                                              12,690
<INVENTORY>                                                              306,657
<CURRENT-ASSETS>                                                         555,358
<PP&E>                                                                    88,571
<DEPRECIATION>                                                            42,076
<TOTAL-ASSETS>                                                           621,395
<CURRENT-LIABILITIES>                                                    442,450
<BONDS>                                                                        0
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                     163
<OTHER-SE>                                                               174,595
<TOTAL-LIABILITY-AND-EQUITY>                                             621,395
<SALES>                                                                3,129,982
<TOTAL-REVENUES>                                                       3,129,982
<CGS>                                                                  2,952,480
<TOTAL-COSTS>                                                          2,952,480
<OTHER-EXPENSES>                                                         155,854
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                         3,886
<INCOME-PRETAX>                                                            5,580
<INCOME-TAX>                                                               1,514
<INCOME-CONTINUING>                                                        4,066
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0
<CHANGES>                                                                      0
<NET-INCOME>                                                               4,066
<EPS-PRIMARY>                                                               0.24
<EPS-DILUTED>                                                               0.24
        

 

EX-27.2

 

<ARTICLE>                     5
<LEGEND>
                              This schedule contains unaudited summary financial
                              information   extracted   from  the   consolidated
                              financial  statements  as of and for  the  periods
                              ended January 28, 1996,  April 28, 1996,  July 28,
                              1996 and  November 3, 1996 and is qualified in its
                              entirety by reference to such statements.


<MULTIPLIER>                  1,000
<CURRENCY>                    U.S. DOLLARS
       
                                                                         
<PERIOD-TYPE>                        3-MOS           3-MOS           3-MOS           YEAR
<FISCAL-YEAR-END>                    NOV-03-1996     NOV-03-1996     NOV-03-1996     NOV-03-1996
<PERIOD-START>                       OCT-30-1995     JAN-29-1996     APR-29-1996     OCT-30-1995
<PERIOD-END>                         JAN-28-1996     APR-28-1996     JUL-28-1996     NOV-03-1996
<EXCHANGE-RATE>                                1               1               1               1
<CASH>                                    11,284           8,871          13,611          22,261
<SECURITIES>                                   0               0               0               0
<RECEIVABLES>                            177,800         263,103         285,701         306,140
<ALLOWANCES>                              13,781          14,052          13,581           8,763
<INVENTORY>                              377,515         300,304         297,420         332,265
<CURRENT-ASSETS>                         565,679         571,852         595,736         663,446
<PP&E>                                    92,098          98,440         104,445         114,960
<DEPRECIATION>                            46,406          50,767          55,666          60,754
<TOTAL-ASSETS>                           630,558         640,305         664,484         744,500
<CURRENT-LIABILITIES>                    439,938         456,062         476,784         548,574
<BONDS>                                        0               0               0               0
<PREFERRED-MANDATORY>                          0               0               0               0
<PREFERRED>                                    0               0               0               0
<COMMON>                                     154             154             161             165
<OTHER-SE>                               176,496         180,230         184,373         191,794
<TOTAL-LIABILITY-AND-EQUITY>             630,558         640,305         664,484         744,500
<SALES>                                  833,638         917,475         896,183       3,741,740
<TOTAL-REVENUES>                         833,638         917,475         896,183       3,741,740
<CGS>                                    784,438         862,882         839,963       3,510,307
<TOTAL-COSTS>                            784,438         862,882         839,963       3,510,307
<OTHER-EXPENSES>                           3,353           4,530           2,719          14,007
<LOSS-PROVISION>                               0               0               0               0
<INTEREST-EXPENSE>                           438             964              93           1,976
<INCOME-PRETAX>                            3,489           5,346           6,635          26,113
<INCOME-TAX>                               1,319           2,517           3,024          11,014
<INCOME-CONTINUING>                        2,170           2,829           3,611          15,099
<DISCONTINUED>                                 0               0               0               0
<EXTRAORDINARY>                                0               0               0               0
<CHANGES>                                      0               0               0               0
<NET-INCOME>                               2,170           2,829           3,611          15,099
<EPS-PRIMARY>                               0.13            0.17            0.21            0.89
<EPS-DILUTED>                               0.13            0.16            0.21            0.87
        

 

EX-27.3

 

<ARTICLE>                     5
<LEGEND>
                              This schedule contains unaudited summary financial
                              information   extracted   from  the   consolidated
                              financial  statements  as of and for  the  periods
                              ended  February  2, 1997,  May 4, 1997,  August 3,
                              1997 and  November 2, 1997 and is qualified in its
                              entirety by reference to such statements.


<MULTIPLIER>                  1,000
<CURRENCY>                    U.S. DOLLARS
       
                                                                         
<PERIOD-TYPE>                        3-MOS           3-MOS           3-MOS           YEAR
<FISCAL-YEAR-END>                    NOV-02-1997     NOV-02-1997     NOV-02-1997     NOV-02-1997
<PERIOD-START>                       NOV-04-1996     FEB-03-1997     MAY-05-1997     NOV-04-1996
<PERIOD-END>                         FEB-02-1997     MAY-04-1997     AUG-03-1997     NOV-02-1997
<EXCHANGE-RATE>                                1               1               1               1
<CASH>                                    12,125          24,738          45,502          24,029
<SECURITIES>                                   0               0               0               0
<RECEIVABLES>                            242,080         299,478         315,355         352,097
<ALLOWANCES>                              14,040          13,321          14,252          10,973
<INVENTORY>                              481,502         469,587         428,826         478,532
<CURRENT-ASSETS>                         732,622         792,169         787,110         855,347
<PP&E>                                   120,823         126,656         135,947         149,826
<DEPRECIATION>                            65,906          64,456          69,545          75,851
<TOTAL-ASSETS>                           814,957         884,805         892,280         985,914
<CURRENT-LIABILITIES>                    544,695         623,813         619,426         709,870
<BONDS>                                        0               0               0               0
<PREFERRED-MANDATORY>                          0               0               0               0
<PREFERRED>                                    0               0               0               0
<COMMON>                                     170             171             173             184
<OTHER-SE>                               202,343         207,059         219,553         239,434
<TOTAL-LIABILITY-AND-EQUITY>             814,957         884,805         892,280         985,914
<SALES>                                  897,420       1,101,107       1,161,839       4,491,868
<TOTAL-REVENUES>                         897,420       1,101,107       1,161,839       4,491,868
<CGS>                                    834,510       1,022,938       1,077,468       4,175,128
<TOTAL-COSTS>                            834,510       1,022,938       1,077,468       4,175,128
<OTHER-EXPENSES>                           4,881           7,422           7,650          27,589
<LOSS-PROVISION>                               0               0               0               0
<INTEREST-EXPENSE>                           595           2,316           1,597           6,105
<INCOME-PRETAX>                            8,756          11,135          11,276          44,111
<INCOME-TAX>                               3,719           4,568           4,670          18,478
<INCOME-CONTINUING>                        5,037           6,567           6,606          25,633
<DISCONTINUED>                                 0               0               0               0
<EXTRAORDINARY>                                0               0               0               0
<CHANGES>                                      0               0               0               0
<NET-INCOME>                               5,037           6,567           6,606          25,633
<EPS-PRIMARY>                               0.29            0.38            0.38            1.46
<EPS-DILUTED>                               0.28            0.37            0.36            1.39