UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 30, 2003
ADVANCED MARKETING SERVICES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-16002 95-3768341
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(Commission File Number) (IRS Employer Identification No.)
5880 OBERLIN DRIVE, SAN DIEGO, CALIFORNIA 92121
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(Address of principal executive offices)
Registrant's telephone number, including area code: (858) 457-2500
NA
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
On August 18, 2003, registrant reported a delay in the filing of its Form
10-Q for the first quarter of fiscal year 2004 that ended on June 28, 2003.
Under the terms of registrant's $45 million Revolving Credit Agreement with
California Bank & Trust, Bank of the West and Union Bank of California, N.A.
(the "Banks"), the failure to provide such Form 10-Q to the Banks on August 27,
2003 constituted an event of default. The Banks have agreed to further forbear
the default through November 28, 2003. Based on the registrant's forecast of
historical seasonal cash flow needs, the registrant has agreed to limit its
borrowings to a maximum of $20 million during the period of forbearance.
Registrant intends to complete and file its Form 10-Q as promptly as possible,
although there can be no assurance that it will be able to do so by November 28,
2003 or that the Banks will continue to forbear thereafter if the Form 10-Q has
not been filed. As of October 30, 2003, registrant had an outstanding balance of
approximately $5 million under the Revolving Credit Agreement.
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 hereunto duly authorized.
ADVANCED MARKETING SERVICES, INC.
(Registrant)
October 30, 2003 By: /S/ MICHAEL M. NICITA
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Date Michael M. Nicita
President and Chief Executive
Officer