<PAGE>
     As filed with the Securities and Exchange Commission on July 24, 1998.
 
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--------------------------------------------------------------------------------
 
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
 
                                   FORM 10-K
 
     [_X_] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
                              EXCHANGE ACT OF 1934
 
                    For the fiscal year ended April 25, 1998
                        Commission file number: 0-24417
 
                        AZTEC TECHNOLOGY PARTNERS, INC.
             (Exact name of registrant as specified in its charter)
 
<TABLE>
<CAPTION>
             DELAWARE                            04-3408450
-----------------------------------  -----------------------------------
<S>                                  <C>
   (State or other jurisdiction               (I.R.S. Employer
         of incorporation)                 Identification Number)
</TABLE>
 
                    50 BRAINTREE HILL OFFICE PARK, SUITE 220
                         BRAINTREE, MASSACHUSETTS 02184
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
                         ------------------------------
 
              Registrant's telephone number, including area code:
                                 (781) 849-1702
                            ------------------------
 
          Securities registered pursuant to Section 12(b) of the Act:
 
<TABLE>
<CAPTION>
                                                                         NAME OF EXCHANGE ON WHICH
                  TITLE OF EACH CLASS                                            REGISTERED
--------------------------------------------------------  --------------------------------------------------------
<S>                                                       <C>
             Common Stock, $0.001 par value                                Nasdaq National Market
</TABLE>
 
Securities registered pursuant to Section 12(g) of the Act: None.
 
    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 voting stock of the registrant held by
non-affiliates of the registrant as of July 17, 1998 was approximately
$188,841,487. As of July 17, 1998, 21,937,902 shares of the registrant's common
stock were outstanding.
 
                      DOCUMENTS INCORPORATED BY REFERENCE
 
Documents
 
    Items 10, 11, 12 and 13 of Part III of this Report incorporate by reference
portions of the Proxy Statement for the Annual Meeting of Stockholders to be
held on September 25, 1998 to be filed with the Securities and Exchange
Commission on or about August 24, 1998 pursuant to Reg. 240.14a-6(b) under the
Securities Exchange Act of 1934.
 
    Capitalized terms not otherwise defined herein have the meanings ascribed to
them in the Company's Registration Statement on Form S-1 (File No. 333-46533) as
filed with the Securities and Exchange Commission on June 10, 1998.
 
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
<PAGE>
                                     PART I
 
ITEM 1. BUSINESS
 
    The following discussion of the Company's business contains forward-looking
statements that involve risks and uncertainties. When used herein, the words
"anticipate," "believe," "estimate," "expect," and similar expressions are
intended to identify such forward-looking statements. The Company's actual
results could differ materially from those discussed herein. Factors that could
cause or contribute to such differences include, but are not limited to, those
discussed in "Management's Discussion and Analysis of Financial Conditions and
Results of Operations," as well as those discussed elsewhere in this Annual
Report on Form 10-K.
 
    Aztec Technology Partners, Inc. ("Aztec" or the "Company") was incorporated
under the laws of the State of Delaware in 1998. Unless the context otherwise
requires, the term "Company" as used herein includes Aztec and its subsidiaries.
 
    Aztec was initially formed in October 1996 with the acquisition of Bay State
Computer Group by U.S. Office Products ("USOP"). Aztec became an independent
publicly-traded company upon the spin-off of Aztec from USOP in June 1998 (the
"Distribution").
 
THE DISTRIBUTION
 
    Each holder of shares of USOP Common Stock of record on June 9, 1998 (the
"Record Date"), received one share of Aztec Common Stock for every five shares
of USOP Common Stock held on the Record Date. The Aztec Common Stock was
distributed on behalf of USOP by American Stock Transfer & Trust Company as the
Distribution Agent. No certificates or scrip representing fractional shares of
Aztec Common Stock were issued. Fractional share interests were aggregated and
sold by the Distribution Agent at such time as it determined in open-market
transactions effected through broker-dealers selected by it. The cash proceeds
were distributed to those stockholders entitled to a fractional interest with
the distribution of payment for the tendered shares or as soon as was practical
thereafter. Certificates representing shares of Aztec Common Stock were
distributed on June 15, 1998.
 
    Aztec holds substantially all of the business and assets of, and is
responsible for substantially all of the liabilities associated with USOP
Technology Solutions divisions. Immediately prior to the Distribution, USOP held
all of the issued and outstanding shares of Aztec Common Stock. Approximately
21,937,902 shares of Aztec Common Stock were distributed to USOP stockholders in
the Distribution.
 
    Before the Distribution, USOP acquired companies in, for example, the
technology solutions business using USOP Common Stock. Following the
Distribution, Aztec is able to pursue independent acquisition programs with a
more focused use of resources, and where stock is used as consideration, provide
stock of a public company that is in the same industry as the businesses being
acquired. The Distribution enables the financial community to evaluate Aztec as
a distinct business and to compare it more easily to its industry peers. The
Distribution also allows Aztec to offer respective employees more focused
incentive compensation packages. Aztec's ability to issue stock options (as well
as other equity) is subject to certain limitations in order to avoid triggering
certain adverse federal income tax consequences.
 
GENERAL
 
    Aztec is a single-source provider of a broad range of IT business solutions.
Aztec currently consists of ten operating companies who have been in business
for an average of over 15 years. These companies offer complementary IT
solutions, which allow Aztec to be a "one-stop" IT solutions provider in the
Northeast region of the United States while providing personalized services to
its clients on a regional and local basis.
 
    Aztec's range of complementary IT business solutions includes: (i)
consulting and engineering services; (ii) systems and network design and
implementation services; (iii) software development and
 
                                       2
<PAGE>
implementation services; (iv) IT support and operational services; and (v)
telephony design and integration services. Aztec is currently providing its
range of services in the Northeast region of the United States, and certain of
these services in other regions of the United States. Aztec provides IT services
and support for all the major technology needs of its clients, which include a
variety of operating systems (NT, Unix, VMS, Netware, SunOS, Digital Open VMS,
and OS/2) on a variety of hardware platforms (Intel, Sun, HP, and Digital). In
addition, Aztec supports its clients' hardware and software needs related to the
World Wide Web and high-end telephony systems.
 
    A brief description of Aztec's constituent operating companies follows.
 
AZTEC INTERNATIONAL
 
    Aztec International, Inc. was founded in 1983. Aztec International, Inc.'s
successor, Aztec International LLC ("Aztec International") was formed on June 1,
1998, and on June 3, 1998, all of the assets of Aztec International, Inc. were
contributed to Aztec International. Aztec International is now a constituent
operating company of Aztec. Aztec International provides cost-effective services
for telecommunications equipment. With facilities strategically positioned
across the United States, Aztec International provides OEM rework, secondary
telecommunications equipment sales, and repair for key systems, telephone PBX,
telephones and printed circuit boards. Aztec International is among few
organizations in the tele-service industry that is trained for and has been
awarded ISO-9002 Certification. Aztec International is headquartered in South
Norwalk, Connecticut, and as of July 1, 1998, had 99 employees.
 
BAY STATE
 
    Bay State Computer Group, Inc. was founded in 1984. Bay State Computer
Group, Inc.'s successor, Bay State Computer Group LLC ("Bay State") was formed
on May 29, 1998, and on June 3, 1998 all of the assets of Bay State Computer
Group, Inc. were contributed to Bay State. Bay State is now a constituent
operating company of Aztec. Bay State is an enterprise service provider,
offering solutions to both mid-size and large corporate entities. As a
full-service, multi-platform design and implementation company, Bay State
provides the engineering expertise to design, configure, implement, manage and
support a wide variety of enterprise IT environments. Bay State's areas of
expertise include strategic design and process re-engineering, Internet/intranet
development, IT infrastructure, connectivity and security services, performance
management, and engineering outsourcing for both short- and long-term technology
projects. Bay State is headquartered in Boston, Massachusetts and as of July 1,
1998, had 181 employees.
 
COMPEL
 
    Compel Corporation was founded in 1979. Compel Corporation's successor,
Compel LLC ("Compel") was formed on April 1, 1998, and on June 3, 1998, all of
the assets of Compel Corporation were contributed to Compel. Compel is now a
constituent operating company of Aztec. Compel designs and installs full-service
communication networks, providing a broad spectrum of solutions to handle data,
voice, and video. Using a staff of registered communications distribution
designers, Compel integrates fiber optics into customer networks. Compel's
expertise ranges from developing enterprise criteria, documenting topology, and
providing implementation to evaluating performance. Compel is headquartered in
Silver Springs, California, and as of July 1, 1998, had 319 employees.
 
DIGITAL NETWORK ASSOCIATES
 
    Founded in 1986, Digital Network Associates designs, installs, and supports
complex enterprise IT solutions. Digital Network Associates' solutions encompass
strategic planning, network design, project management, training, customer
support, and engineering services. Digital Network Associates also provides
application development in client/server, wireless client/server, groupware
collaboration, and multimedia applications. Digital Network Associates merged
into Professional Computer Solutions Inc. on
 
                                       3
<PAGE>
June 5, 1998, but will continue to operate as a separate division, headquartered
in New York, NY, and as of July 1, 1998 had 56 employees.
 
ENTRA
 
    Founded in 1984, Entra Computer Corporation ("Entra") provides specialized,
integrated applications for a variety of vertical industries, integrating
software for customers using popular programming languages and database
software. Entra also has a large engineering staff which design and integrate
enterprises, as well as a dedicated division of Computer Aided Design engineers
and a team that provides training for operating systems and applications. Entra
is headquartered in Youngstown, Ohio, and as of July 1, 1998, had 47 employees.
 
FORTRAN
 
    Founded in 1983, Fortran Corporation ("Fortran") has experience with the
attributes of a wide variety of telecommunications systems, and uses this
experience to develop systems for specific client environments ranging from
simple turnkey systems to complex voice and data communications systems. Fortran
designs and integrates telecommunications systems and solutions to meet the
individual needs and requirements of its clients. Fortran engineers have
expertise in Integrated Services Digital Networks ("ISDN"), and in integrating
LAN, data and voice communications, video conferencing, voicemail and voice
processing into the ISDN of the future. Fortran is headquartered in Newington,
Virginia, and as of July 1, 1998, had 61 employees.
 
MAHON
 
    Founded in 1979, Mahon Communications Corporation ("Mahon") develops turnkey
data, voice and video integrated solutions. Mahon designs, installs, and
maintains enterprise, telephone/voice processing systems, and video conferencing
systems. Mahon maintains a large staff of Registered Communications Distribution
Designers who provide custom solutions for complete voice, data and video
infrastructures that scale to individual customer requirements. Mahon also has
expertise in telephony applications, including automatic call distribution,
unified messaging, and interactive voice response. Mahon is headquartered in
Boston, Massachusetts, and as of July 1, 1998, had 111 employees.
 
OFFICE EQUIPMENT SERVICE
 
    Founded in 1972, Office Equipment Service Co., Inc. ("OES") provides
enterprise services, including document management solutions and technical
support. OES provides consultations to evaluate customer needs using a variety
of diagnostic methods and tools, ranging from user surveys to sophisticated
enterprise-monitoring devices that pinpoint areas for improvement. OES is
headquartered in Memphis, Tennessee, and as of July 1, 1998, had 83 employees.
 
PROFESSIONAL COMPUTER SOLUTIONS
 
    Founded in 1985, Professional Computer Solutions Inc. ("PCS") is a leading
software development and consulting firm specializing in groupware and messaging
systems, data warehousing, Web-based development, n-tier client/server, and
application rightsizing. PCS provides failsafe solutions to clients' business
needs, delivering complete enterprise designs with application development and
post-implementation support to ensure that clients realize all of the system's
benefits. PCS is headquartered in Englewood, New Jersey, and as of July 1, 1998,
had 86 employees, excluding its Digital Networks Associates division.
 
                                       4
<PAGE>
PROFESSIONAL NETWORK SERVICES
 
    Founded in 1989, Professional Network Services, Inc. ("PNS") provides
comprehensive enterprise solutions and helps organizations evaluate
constantly-changing technologies. PNS designs infrastructure, defines service
level objectives, and develops appropriate enterprise management practices to
support service levels. PNS also provides video-conferencing and technical
support to customers. PNS is headquartered in Trumbull, Connecticut, and as of
July 1, 1998, had 64 employees.
 
MARKET AND INDUSTRY OVERVIEW
 
    Since the mid-1980's, dramatic changes have occurred in the delivery of IT
solutions to end users. With the development of the personal computer, computing
power has migrated from centralized mainframes using proprietary software
applications to decentralized, scalable architectures and Web-enabled systems
integrating personal computers, client/server networking technology, and
fourth-generation object-oriented programs. Attendant to this major expansion of
distributive data processing are corresponding cultural changes in the corporate
delivery of IT services. No longer is information processed, controlled, and
disseminated by a single central corporate data processing function. The arrival
of distributive data processing has reduced the extent to which IT manufacturers
directly relate to end users. The IT fulfillment process has shifted from
manufacturers to third-party IT providers such as Aztec.
 
    Businesses increasingly turn to outside organizations such as Aztec for
efficient design, development, and implementation of IT systems. Based on
industry sources that Aztec believes are reliable, Aztec believes that the
United States market for outsourced IT services is expected to grow from
approximately $13 billion in 1996 to approximately $24 billion in 2001. Due in
part to the rapid pace of technological change coupled with the scarcity of
skilled IT professionals, business solutions frequently are too sophisticated
and complex for a company to undertake itself. Moreover, Aztec believes the cost
of developing complex business solutions in-house has generally exceeded the
internal resources of the business. In addition, the increased use of outside IT
solutions firms is being driven by competitive pressures requiring rapid
implementation of new systems and the adverse effects of selecting inappropriate
or outdated technology. Additionally, many companies have made a strategic
decision to focus on their core competencies, minimize their fixed costs, and
reduce their workforce, thereby preventing them from investing in large IT
staffs.
 
    The business community increasingly demands multifunctional networks that
can simultaneously support any combination of voice, data, and video services
accessible from wireline and wireless terminal devices. For example,
telecommunications service providers are beginning to offer multifunctional
services, such as ISDN, which allows for the dynamic allocation of bandwidth
between any combination of voice, data, and video, and individual call routing.
Aztec believes that traditionally distinct telecommunications networks and data
networks increasingly will be built on the same technical platforms.
 
    Data communication solutions have also become standard commodity solutions
where hubs and routers are now available to solve the complex problems of
enterprise-wide information flow. These products were developed by a multitude
of new small IT manufacturers. No longer do a few large computer manufacturers
have a stranglehold on data communication system configuration and deployment.
Today, an optimal IT business solution can be designed and implemented by small,
agile business solution providers who have the professional expertise to bring
together products and services from a multitude of vendors.
 
    More recent technological developments have introduced applications that
capitalize on "cyberspace" and create additional opportunities for business
solution companies to provide: (i) programming and consulting services for
Web-enabled applications that allow them to be accessed by customers, employees,
and trading partners using low-cost Internet/intranet technology; (ii)
consulting and design services for Internet-specific products, such as
firewalls, Internet security systems, and network management; and (iii)
 
                                       5
<PAGE>
integrated voice and data systems that provide networks replacing existing
separate telephone systems and cable plants.
 
    Demand for IT services has grown significantly and the nature of the IT
services industry has changed. Based on industry sources that Aztec believes are
reliable, Aztec believes that the domestic market for IT professional services
(consulting, systems integration, applications development, and outsourcing
services) was approximately $73 billion in 1996 and is estimated to grow to
approximately $148 billion by the year 2001. Based on industry sources that
Aztec believes are reliable, Aztec believes that consulting, development, and
integration markets are experiencing record growth, with revenue growth for the
top 20 consulting, development and integration companies averaging 25% between
1995 and 1996. Furthermore, the IT service industry is highly-fragmented, with a
small number of large national service providers and a large number of small and
medium-sized providers, typically regional in scope. Recently, the industry has
experienced an increase in consolidation activity that Aztec believes is driven
in part by corporate demands for single-source IT providers.
 
    Aztec believes it is well positioned to capitalize on these developments by
providing focused IT expertise in a cost-effective manner to existing and
potential clients, and by identifying and acquiring complementary businesses in
this industry.
 
THE AZTEC SOLUTION
 
    Aztec offers its clients a single source for IT business solutions and
services. Aztec seeks to foster a relationship with the client that will allow
Aztec to become its clients' "one-stop shop" for total IT business solutions.
The five sectors of Aztec's business and the services provided within each
sector are:
 
                      CONSULTING AND ENGINEERING SERVICES
 
    - Business process reengineering
 
    - IT needs analysis
 
    - Technology infrastructure planning and design
 
    - Systems architecture development
 
    - Decision support planning and analysis
 
    - Solution design and development
 
    Aztec's technical and sales professionals deliver these IT business
solutions through the client's chief information officer or chief financial
officer. In providing these consulting and engineering services, Aztec
establishes long-term relationships with its clients that it believes will offer
future opportunities to expand the level of service and support required to meet
clients' needs.
 
             SYSTEMS AND NETWORK DESIGN AND IMPLEMENTATION SERVICES
 
    - LAN and WAN client/server design and integration
 
    - Internet/intranet infrastructure design and integration
 
    - Voice and data communication infrastructure
 
    - Communication network solutions involving hubs, routers, and switches
 
    - Capacity planning
 
    - Network performance management
 
    - Connectivity and security services
 
                                       6
<PAGE>
    Aztec delivers enterprise-wide turnkey IT business solutions by combining
its business knowledge with technical expertise concerning hardware, software,
and support capabilities to achieve the client's goals. These solutions address
client needs for high bandwidth applications, from transaction processing to
Internet commerce.
 
    Aztec designs, develops, and installs full application-ready, distributed
client/server computing platforms and integrates them into existing IT
infrastructures. Capabilities include project planning, technology integration
and installation that maximizes system performance and delivery of computing
solutions in the most cost-effective way, assuring flexible, open systems
capable of integrating into tomorrow's new technologies.
 
                SOFTWARE DEVELOPMENT AND IMPLEMENTATION SERVICES
 
    - Custom client/server software design and development
 
    - Internet/intranet software solutions design and development
 
    - Customization of business software
 
    - Data warehousing design and development
 
    - Object-oriented design and development
 
    - Reseller of leading fourth-generation database tools and applications
 
    - Reseller of document management and imaging software
 
    Aztec designs systems that allow groups of various sizes in multiple
locations to collaborate across business lines and functions. Aztec uses data
warehousing tools and technology processes to give clients decision support
information, sales and marketing intelligence systems, and other strategic
knowledge tools. Aztec's Internet services help clients exploit the full
potential of information processing on both the global Internet and on corporate
intranets. Aztec is a certified reseller and supporter of products of the
leading software manufacturers, including Microsoft, Oracle, Sybase, and
Borland, incorporating the latest technology and techniques. Aztec emphasizes
keeping up with the rapid change of technology by employing highly-qualified
strategists and technologists, forming alliances with key tool and database
vendors, participating in beta programs for new products, and by participating
in and attending major technical conferences.
 
                      IT SUPPORT AND OPERATIONAL SERVICES
 
    - Outsourcing of IT professional services
 
    - Outsourcing of IT product procurement
 
    - Engineering and network management services
 
    - Facility infrastructure cabling and installation
 
    - Warranty support
 
    - Help desk support
 
    - Hardware and software maintenance and support
 
    Aztec provides both short- and long-term temporary technical expertise to
address a wide range of network operation and project needs, including LAN and
WAN management, systems management, and system administration.
 
                                       7
<PAGE>
                   TELEPHONY DESIGN AND INTEGRATION SERVICES
 
    - Design and integrate telecommunications systems
 
    - Design and integrate ISDN networks
 
    - Telephone PBX and key-system procurement and installation
 
    - Voicemail systems installation
 
    - Voice response units installation
 
    - Warranty support
 
    Aztec seeks to maintain current knowledge of the attributes of all
telecommunications systems, and to use this knowledge to develop systems for
specific client environments--from simple key systems to complex voice/data
communications systems.
 
    Aztec recognizes the importance of global ISDN communication, and has the
ability to integrate LAN, data and voice communications, video conferencing,
voicemail and voice processing into the ISDN of the future.
 
OPERATIONS
 
    DECENTRALIZED MANAGEMENT.  Each of Aztec's operating companies currently
manages its own business on a decentralized basis, with management direction and
oversight provided by the Chairman and Chief Executive Officer of Aztec, the
Chief Operating Officer, and the Executive Vice President and Chief Financial
Officer, with functional support from Aztec. In addition, Aztec's senior
management will be responsible for implementing the Company's internal growth
and acquisition strategies.
 
    Each of the present operating companies and any subsequently acquired
businesses will manage the professional services and technical support of their
respective businesses in a manner consistent with their traditional local
practices and as dictated by client needs. Depending on its size and the
services it provides, each operating company will employ its own senior
technical and sales professionals, including project managers, engineers,
technicians and developers, marketing personnel, and recruiters and
administrative personnel. Aztec will seek to identify and implement
opportunities to consolidate overlapping functions and achieve cost savings, if
consistent with the client-service objectives of the operating companies. As
Aztec grows through acquisitions, especially into other geographic regions, it
may consider establishing regional divisions to consolidate and improve
administrative support functions.
 
    SALES AND MARKETING.  Aztec focuses its sales and marketing efforts on
companies with complex computing and communications requirements located
throughout the United States. To develop its clients, who will be principally
the chief information officers and chief financial officers of corporations,
Aztec uses a combination of sales engineering and consulting sales services,
including trade shows, professional seminars and radio advertisements. As of
July 1, 1998, Aztec employed 154 sales people across the country.
 
    RETENTION OF SKILLED TECHNICAL AND SALES PROFESSIONALS.  Aztec believes that
it must be able to attract and retain skilled technical and sales professionals
to achieve its business goals. To maximize the long-term retention of these
professionals, Aztec is implementing an aggressive performance-based employee
retention program. The program is expected to include: stock options; a
professional education policy; a progressive human resources program; and other
benefits designed to enhance long-term employee retention.
 
COMPETITION
 
    The IT solutions market includes a large number of participants, is subject
to rapid changes, and is highly competitive. The Company competes with, and
faces potential competition for client assignments
 
                                       8
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and experienced personnel from, a number of companies that have significantly
greater financial, technical and marketing resources, generate greater revenues
than does the Company, and have greater name recognition. The Company believes
that the principal competitive factors in the segment of the industry in which
the Company competes include scope of services, service delivery approach,
technical and industry expertise, perceived value, objectivity and results
orientation. The Company believes that its ability to compete also depends in
part on a number of competitive factors outside of its control, including the
ability of its competitors to hire, retain and motivate senior project managers,
the price at which others offer comparable services and the extent of its
competitors' responsiveness to customer needs. There can be no assurance that
the Company will be able to compete successfully with its competitors in the
future.
 
    Aztec's principal competitors include Lucent Technologies Inc., Bell
Atlantic Corporation, Sapient Corporation, Cambridge Technology Partners
(Massachusetts), Inc., Digital Equipment Corporation, and International Business
Machines Corporation.
 
CUSTOMERS
 
    Aztec's clients include middle market and Fortune 1000 companies in a wide
range of industries (including communications, health care, financial services,
government, manufacturing, pharmaceuticals, professional services, and
technology). In fiscal 1998, Aztec, which employs over 1,100 people
(approximately 65% of whom are technical professionals), provided services to
over 2,000 customers.
 
PATENTS AND OTHER INTELLECTUAL PROPERTY RIGHTS
 
    Aztec's operating companies own or have the right to use certain patents,
copyrights and trademarks. These operating companies rely on a combination of
nondisclosure and other contractual arrangements and trade secret, copyright,
and trademark laws to protect their proprietary rights and the proprietary
rights of third parties, enter into confidentiality agreements with their key
employees, and limit distribution of proprietary information.
 
EMPLOYEES
 
    As of July 1, 1998, Aztec employed 1,114 persons, of whom approximately 747
were technical professionals. Most of Aztec's employees work in professional
(including sales), administrative, and technical positions. Of Aztec's
employees, 256 are represented by a labor union or subject to a collective
bargaining agreement. Aztec believes that its employee relations generally are
good.
 
ITEM 2. PROPERTIES
 
    Aztec's corporate headquarters are located in Braintree, Massachusetts. In
addition to its headquarters, Aztec leases office and warehouse space in a
number of locations across the United States. Aztec does not believe that any of
these locations are material to its operations. The leases expire at various
times between 1998 and 2004.
 
ITEM 3. LEGAL PROCEEDINGS
 
    Aztec is involved from time to time in legal proceedings arising in the
ordinary course of business. There are currently no material legal proceedings
pending to which Aztec is a party or to which any of its property is subject.
 
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
    The stockholder of Aztec, by written consent, has approved the following
actions: (1) on April 2, 1998, approval of the Certificate of Amendment to the
Certificate of Incorporation changing the name of the corporation from Paradigm
Concepts, Inc. to Aztec Consulting, Inc.; (2) on April 23, 1998, approval of the
 
                                       9
<PAGE>
Certificate of Amendment to the Certificate of Incorporation changing the name
of the corporation from Aztec Consulting, Inc. to Aztec Technology Partners,
Inc.; (3) on May 28, 1998, enlargement of the Board of Directors from one member
to five members, appointment of Clifford Mitman, Jr., Benjamin Tandowski,
Lawrence Howell and Jonathan J. Ledecky to the Board of Directors to fill the
vacancies created by the enlargement; and (4) in June 1998, approval of the
Amended and Restated Certificate of Incorporation and the By-Laws of the
Company.
 
                                    PART II
 
ITEM 5. MARKET FOR THE REGISTRANT'S COMMON STOCK AND RELATED STOCKHOLDER MATTERS
 
    The Company listed its Common Stock on the Nasdaq National Market under the
symbol "AZTC," on June 10, 1998. In fiscal 1998, the Company did not have a
public market for its Common Stock.
 
ITEM 6. SELECTED FINANCIAL DATA
 
    The historical Selected Financial Data for the fiscal years ended April 25,
1998 (except pro forma amounts), April 26, 1997 and March 31, 1996 have been
derived from Aztec's consolidated financial statements that have been audited by
PricewaterhouseCoopers LLP and are included elsewhere in this Annual Report on
Form 10-K. The PricewaterhouseCoopers LLP report on the financial statements is
based in part on reports of other independent accountants, which appear
elsewhere in this Annual Report on Form 10-K. The historical Selected Financial
Data for the fiscal year ended March 31, 1995 has been derived from Aztec's
consolidated financial statements that have been audited and for the fiscal year
ended March 31, 1994 has been derived from unaudited consolidated financial
statements that are not included elsewhere in this Annual Report on Form 10-K.
The unaudited consolidated financial statements have been prepared on the same
basis as the audited consolidated financial statements and, in the opinion of
management, contain all adjustments, consisting only of normal recurring
accruals, necessary for a fair presentation of the financial position and
results of operations for the period presented.
 
    The pro forma financial data gives effect, as applicable, to the
Distribution and the purchase acquisitions completed by Aztec between April 27,
1997 and April 25, 1998 as if all such transactions had been consummated on
April 27, 1997. In addition, the pro forma information is based on available
information and certain assumptions and adjustments.
 
    The Selected Financial Data provided herein should be read in conjunction
with the historical financial statements, including the notes thereto, the pro
forma financial information, including the notes thereto, "Business" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" that appear elsewhere in this Annual Report on Form 10-K.
 
                                       10
<PAGE>
                          SELECTED FINANCIAL DATA (1)
                     (IN THOUSANDS, EXPECT PER SHARE DATA)
<TABLE>
<CAPTION>
                                                                       FISCAL YEAR ENDED             FISCAL YEAR ENDED
                                                                           MARCH 31,              ------------------------
                                                               ---------------------------------   APRIL 26,    APRIL 25,
                                                                 1994       1995        1996         1997         1998
                                                               ---------  ---------  -----------  -----------  -----------
 
<S>                                                            <C>        <C>        <C>          <C>          <C>
Statement of Income Data:
Revenues.....................................................  $  58,979  $  88,999   $ 114,055    $ 136,278    $ 208,341
Cost of revenues.............................................     43,630     65,858      84,113      102,129      158,317
                                                               ---------  ---------  -----------  -----------  -----------
Gross profit.................................................     15,349     23,141      29,942       34,149       50,024
Selling, general and administrative expense..................     11,218     14,942      20,510       21,525       35,185
Goodwill amortization expense................................                                                         840
Strategic restructuring costs................................                                                       1,750
Non-recurring acquisition costs..............................                                          2,274
                                                               ---------  ---------  -----------  -----------  -----------
Operating income.............................................      4,131      8,199       9,432       10,350       12,249
Interest expense.............................................        297        331         420          324          807
Interest income..............................................        (54)      (118)       (416)        (168)        (785)
Other (income) expense.......................................        (75)      (111)       (964)         (53)         (44)
                                                               ---------  ---------  -----------  -----------  -----------
Income before provision for income taxes.....................      3,963      8,097      10,392       10,247       12,271
Provision for income taxes (3)...............................        232        401         750        3,524        5,797
                                                               ---------  ---------  -----------  -----------  -----------
Net income...................................................  $   3,731  $   7,696   $   9,642    $   6,723    $   6,474
                                                               ---------  ---------  -----------  -----------  -----------
                                                               ---------  ---------  -----------  -----------  -----------
Per share amounts:
Basic........................................................  $    0.42  $    0.84   $    0.71    $    0.37    $    0.27
Diluted......................................................  $    0.42  $    0.84   $    0.71    $    0.37    $    0.27
                                                               ---------  ---------  -----------  -----------  -----------
                                                               ---------  ---------  -----------  -----------  -----------
Weighted average shares outstanding:
Basic........................................................      8,852      9,112      13,509       18,005       23,911
Diluted......................................................      8,852      9,141      13,675       18,352       24,385
 
<CAPTION>
 
                                                                    MARCH 31,
                                                               --------------------   APRIL 30,    APRIL 26,    APRIL 25,
                                                                 1994       1995        1996         1997         1998
                                                               ---------  ---------  -----------  -----------  -----------
<S>                                                            <C>        <C>        <C>          <C>          <C>
Balance Sheet Data:
Working Capital..............................................  $   5,623  $  10,669   $   8,664    $  13,268    $  36,292
Total assets.................................................     16,423     28,106      33,945       37,311      141,445
Long-term debt, less current portion.........................        461      1,524         799          167          309
Long-term payable to U.S. Office Products....................                                          4,786
Stockholder's Equity.........................................      6,745     11,062      10,497       11,626      105,319
 
<CAPTION>
 
                                                                PRO FORMA
                                                                APRIL 25,
                                                                 1998(2)
                                                               -----------
<S>                                                            <C>
Statement of Income Data:
Revenues.....................................................   $ 256,903
Cost of revenues.............................................     192,053
                                                               -----------
Gross profit.................................................      64,850
Selling, general and administrative expense..................      43,469
Goodwill amortization expense................................       1,665
Strategic restructuring costs................................
Non-recurring acquisition costs..............................
                                                               -----------
Operating income.............................................      19,716
Interest expense.............................................         400
Interest income..............................................
Other (income) expense.......................................        (282)
                                                               -----------
Income before provision for income taxes.....................      19,598
Provision for income taxes (3)...............................       8,622
                                                               -----------
Net income...................................................   $  10,976
                                                               -----------
                                                               -----------
Per share amounts:
Basic........................................................   $    0.50
Diluted......................................................   $    0.50
                                                               -----------
                                                               -----------
Weighted average shares outstanding:
Basic........................................................    21,938(4)
Diluted......................................................    21,938(4)
                                                                PRO FORMA
                                                                APRIL 25,
                                                                  1998
                                                               -----------
<S>                                                            <C>
Balance Sheet Data:
Working Capital..............................................   $  40,680
Total assets.................................................     141,445
Long-term debt, less current portion.........................         309
Long-term payable to U.S. Office Products....................       4,388
Stockholder's Equity.........................................     105,319
</TABLE>
 
------------------------------
 
(1) The historical financial information of the Pooled Companies has been
    combined on a historical cost basis in accordance with GAAP to present this
    financial data as if the Pooled Companies had always been members of the
    same operating group. The financial information of the Purchased Companies
    is included from the dates of their respective acquisitions. The pro forma
    financial data reflect acquisitions completed by Aztec through April 25,
    1998. See Note 4 of Notes to the Consolidated Financial Statements for a
    description of the number and accounting treatment of the acquisitions by
    the Company.
 
(2) Gives effect to the Distribution and the purchase acquisitions completed by
    Aztec since April 27, 1997 as if all such transactions had been consummated
    on April 27, 1997. The pro forma statement of income data is not necessarily
    indicative of the operating results that would have been achieved had these
    events actually then occurred and should not be construed as representative
    of future operating results.
 
(3) Certain Pooled Companies were organized as subchapter S corporations prior
    to the closing of the acquisitions by the Company and, as a result, the
    federal tax on their income was the responsibility of their individual
    stockholders. Accordingly, the specific Pooled Companies provided no federal
    income tax expense prior to these acquisitions by the Company.
 
(4) For calculation of the pro forma weighted average shares outstanding for the
    fiscal year ended April 25, 1998, see Note 2(g) of Notes to the Pro Forma
    Combined Financial Statements included herein.
 
                                       11
<PAGE>
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
  OF OPERATIONS
 
    The following discussion and analysis contains forward-looking statements
that involve risks and uncertainties. When used herein, the words "anticipate,"
"believe," "estimate," "expect," and similar expressions are intended to
identify such forward-looking statements. The Company's actual results could
differ materially from those discussed herein. Factors that could cause or
contribute to such differences include, but are not limited to, those discussed
in "Business" as well as those discussed elsewhere in this Annual Report on Form
10-K.
 
OVERVIEW
 
    Aztec was initially formed in October 1996 with the acquisition of Bay State
Computer Group, Inc. by U.S. Office Products. Since that time, under the
leadership of Aztec's current Chairman and Chief Executive Officer, James E.
Claypoole, nine complementary regional IT solutions companies were acquired.
These companies are: (i) Aztec International; (ii) Compel; (iii) Digital Network
Associates; (iv) Entra; (v) Fortran; (vi) Mahon; (vii) Office Equipment Service;
(viii) Professional Computer Solutions; and (ix) Professional Network Services.
 
    Aztec generates revenues principally from (i) fees for services rendered to
customers (including consulting and engineering services, systems and network
implementation services, software development and implementation services, IT
support and operational services, and telephony design and integration services)
and (ii) sales of products to customers within these business sectors (including
telephony systems and network and systems hardware and software).
 
    Aztec's consolidated financial statements give retroactive effect to the
five business combinations accounted for under the pooling-of-interests method
during the period from October 1996 through April 1997 (the "Pooled Companies")
and include the results of five companies acquired during the fiscal year ended
April 25, 1998 in business combinations accounted for under the purchase method
(the "Purchased Companies") from their respective acquisition dates. Prior to
their respective dates of acquisition by U.S. Office Products, the Pooled
Companies reported results for years ending on March 31 and December 31. Upon
acquisition by U.S. Office Products and effective for the fiscal year ended
April 26, 1997, the Pooled Companies changed their year-ends from March 31 and
December 31 to conform to U.S. Office Products' fiscal year, which ends on the
last Saturday in April. In the following discussion, "fiscal 1996," "fiscal
1997" and "fiscal 1998" refer to the Company's fiscal years ended March 31,
1996, April 26, 1997 and April 25, 1998, respectively.
 
    The following discussion should be read in conjunction with Aztec's
consolidated financial statements and related notes thereto and pro forma
financial statements and related notes thereto appearing elsewhere in this
Annual Report on Form 10-K.
 
                                       12
<PAGE>
RESULTS OF OPERATIONS
 
    The following table sets forth various items as a percentage of revenues for
fiscal 1996, 1997, and 1998, respectively.
 
<TABLE>
<CAPTION>
                                                                                             FISCAL YEAR ENDED
                                                                                   -------------------------------------
<S>                                                                                <C>          <C>          <C>
                                                                                    MARCH 31,    APRIL 26,    APRIL 25,
                                                                                      1996         1997         1998
                                                                                   -----------  -----------  -----------
Revenues.........................................................................       100.0%       100.0%       100.0%
Cost of revenues.................................................................        73.7         74.9         76.0
                                                                                        -----        -----        -----
  Gross profit...................................................................        26.3         25.1         24.0
Selling, general and administrative expenses.....................................        18.0         15.8         16.9
Goodwill amortization expense....................................................                                   0.4
Strategic restructuring costs....................................................                                   0.8
Non-recurring acquisition costs..................................................                      1.7
                                                                                        -----        -----        -----
  Operating income...............................................................         8.3          7.6          5.9
Interest (income) expense, net...................................................                      0.1
Other income.....................................................................        (0.8)
                                                                                        -----        -----        -----
Income before provision for income taxes.........................................         9.1          7.5          5.9
Provision for income taxes.......................................................         0.6          2.6          2.8
                                                                                        -----        -----        -----
Net income.......................................................................         8.5%         4.9%         3.1%
                                                                                        -----        -----        -----
                                                                                        -----        -----        -----
</TABLE>
 
COMPARISON OF FISCAL 1998 TO FISCAL 1997
 
    REVENUES.  Consolidated revenues increased 52.9%, from $136.3 million for
fiscal 1997, to $208.3 million for fiscal 1998. This increase was primarily due
to sales to new accounts and increased sales to existing customers in the
consulting and engineering services sector, the systems and network integration
sector, and the telephony integration services sector of the business resulting
from the expansion of Aztec's customer base. Revenues in these sectors have a
higher concentration of service related revenue. In addition, revenues of
Purchased Companies acquired during fiscal 1998 contributed to the increase in
revenues. The majority of the Purchased Companies' revenues are service-related.
 
    GROSS PROFIT.  Gross profit increased 46.5%, from $34.1 million, or 25.1% of
revenues, for fiscal 1997 to $50.0 million, or 24.0% of revenues, for fiscal
1998. This decrease in gross profit as a percentage of revenues was due to a
higher concentration of business in the systems and network design and
implementation services sector, which has inherently lower gross margin
percentages than the other sectors.
 
    SELLING, GENERAL AND ADMINISTRATIVE.  Selling, general and administrative
expenses increased 63.5%, from $21.5 million, or 15.8% of revenues, for fiscal
1997 to $35.2 million, or 16.9% of revenues, for fiscal 1998. The increase in
selling, general and administrative expenses as a percentage of revenues was
primarily due to increases in corporate overhead at one of the operating
companies of Aztec, compensation related earnouts paid at three recently
acquired operating companies, an increased level of general bad debt reserves,
and increased Aztec corporate overhead due to the Strategic Restructuring.
 
    STRATEGIC RESTRUCTURING COSTS.  Strategic restructuring costs represent the
Company's portion of the costs incurred by U.S. Office Products as a result of
U.S. Office Products' recently completed comprehensive restructuring plan
including costs incurred related to the Company's withdrawn initial public
offering.
 
    NON-RECURRING ACQUISITION COSTS.  Aztec incurred non-recurring acquisition
costs of $2.3 million for fiscal 1997 in conjunction with five business
combinations accounted for under the pooling-of-interests method. These
non-recurring acquisition costs included accounting, legal and investment
banking fees, real estate and environmental assessments and appraisals and
various regulatory fees. Generally accepted
 
                                       13
<PAGE>
accounting principles require Aztec to expense all acquisition costs (both those
paid by Aztec and those paid by the sellers of the acquired companies) related
to business combinations accounted for under the pooling-of-interests method.
 
    INTEREST EXPENSE.  Interest expense, net of interest income, decreased
$134,000, from net interest expense of $156,000 in fiscal 1997, to $22,000 in
fiscal 1998. The decrease was due primarily to the Company's pay down of debt
due to an increase in cash flows from operations during fiscal 1998.
 
    PROVISION FOR INCOME TAXES.  Provision for income taxes increased from $3.5
million for fiscal 1997 to $5.8 million for fiscal 1998, reflecting effective
tax rates of 34.4% and 47.2%, respectively. The higher effective tax rate for
fiscal 1998 is the result of goodwill amortization and certain acquisition costs
not being deductible for tax purposes. The lower effective income tax rate for
fiscal 1997, compared to the federal statutory rate of 35.0% plus state taxes,
is the result of certain companies included in the results, which were acquired
in business combinations accounted for under the pooling-of-interests method,
not being subject to federal income taxes on a corporate level as they had
elected as subchapter S corporation prior to being acquired by Aztec.
 
COMPARISON OF FISCAL 1997 TO FISCAL 1996
 
    REVENUES.  Consolidated revenues increased 19.5%, from $114.1 million in
fiscal 1996 to $136.3 million in fiscal 1997. This increase was primarily due to
increased sales to existing customers and sales to new customers in the
consulting and engineering services sector, the systems and network integration
sector, and the software development and integration services sector of the
business.
 
    GROSS PROFIT.  Gross profit increased 14.1%, from $29.9 million, or 26.3% of
revenues, in fiscal 1996 to $34.1 million, or 25.1% of revenues, in fiscal 1997.
The decrease in gross profit as a percentage of revenues was due primarily to a
higher concentration of business in the systems and network design and
implementation services sector which has inherently lower gross margin
percentages than the other sectors.
 
    SELLING, GENERAL AND ADMINISTRATIVE.  Selling, general and administrative
expenses increased 4.9%, from $20.5 million, or 18.0% of revenues, in fiscal
1996 to $21.5 million, or 15.8% of revenues, in fiscal 1997. The decrease in
selling, general and administrative expenses as a percentage of revenues was due
primarily to operating efficiencies employed at Aztec and Aztec's ability to
increase its revenue base without a corresponding increase in fixed operating
costs.
 
    NON-RECURRING ACQUISITION COSTS.  Aztec incurred non-recurring acquisition
costs of $2.3 million in fiscal 1997 in conjunction with five business
combinations accounted for under the pooling-of-interests method.
 
    INTEREST EXPENSE.  Interest expense, net of interest income, increased
$152,000, from $4,000 in fiscal 1996 to $156,000 in fiscal 1997. The net
increase was due primarily to the reduction in interest income related to
short-term investments at one of the Pooled Companies. The proceeds from the
short-term investments were used to fund other working capital needs.
 
    OTHER INCOME.  Other income decreased $911,000, from $964,000 in fiscal 1996
to $53,000 in fiscal 1997. In fiscal 1996, other income consisted primarily of a
gain on the sale of a non-core line of business at one of the Pooled Companies
prior to its acquisition by Aztec.
 
    PROVISION FOR INCOME TAXES.  Provision for income taxes increased from
$750,000 in fiscal 1996 to $3.5 million in fiscal 1997, reflecting effective
income tax rates of 7.2% and 34.4%, respectively. The low effective income tax
rate for fiscal 1996, compared to the federal statutory tax rate of 35.0% plus
state taxes, is the result of certain companies included in the results, which
were acquired in business combinations accounted for under the
pooling-of-interests method, not being subject to federal income
 
                                       14
<PAGE>
taxes on a corporate level as such companies had elected to be treated as
subchapter S corporations prior to being acquired by Aztec.
 
LIQUIDITY AND CAPITAL RESOURCES
 
    At April 25, 1998, Aztec had cash of $2.0 million and working capital of
$36.3 million. Aztec's capitalization, defined as the sum of long-term debt,
payable to U.S. Office Products and stockholder's equity, at April 25, 1998 was
approximately $110.3 million.
 
    During fiscal 1998, net cash used in operating activities was $6.9 million.
Net cash used in investing activities was $2.9 million, which consisted
primarily of $2.6 million used for additions of property, plant, and equipment.
Net cash provided by financing activities was $10.6 million, including $15.3
million of capital contributed by U.S. Office Products in anticipation of the
strategic restructuring, $818,000 that was advanced by U.S. Office Products as
part of U.S. Office Products' centralized cash management process, $1.3 million
in dividends paid by one of the Pooled Companies, and the repayment of $4.2
million in short-term and long-term debt.
 
    During fiscal 1997, net cash provided by operating activities was $6.3
million. Net cash used in investing activities was $3.9 million, which consisted
primarily of $1.8 million in payments of non-recurring acquisition costs in
conjunction with the acquisitions of certain Pooled Companies and a tax deposit
at one of the Pooled Companies of $1.3 million. Net cash used in financing
activities of $6.8 million resulted from the repayment of $5.5 million in
short-term debt and $4.3 million in dividends paid by certain of the Pooled
Companies. These cash outflows were partially offset by $3.6 million in advances
from U.S. Office Products.
 
    During fiscal 1996, net cash provided by operating activities was $4.3
million. Net cash provided by investing activities was $306,000 consisting of
$1.3 million in proceeds from the sale of a non-core line of business at one of
the Pooled Companies which was partially offset by $552,000 used for additions
to property and equipment and $421,000 paid in deposits. Net cash used in
financing activities was $3.0 million which resulted from $7.4 million in
dividends paid by certain of the Pooled Companies, partially offset by
borrowings of $3.7 million and $1.2 million in short-term and long-term debt,
respectively.
 
    Aztec's anticipated capital expenditures budget for the next twelve months
is approximately $4.5 million. The largest items include $1.5 million for Year
2000 compliance, and other amounts for infrastructure improvements (including
computer equipment and service vehicles).
 
    The Distribution Agreement with U.S. Office Products calls for the
allocation to Aztec of $5.0 million of debt by U.S. Office Products resulting in
a contribution to capital of $15.3 million at April 25, 1998, which has been
reflected in the financial statements as an increase in stockholder's equity. On
June 18, 1998, Aztec entered into a commitment letter with BankBoston, N.A. for
a $140 million proposed credit facility (the "Proposed Credit Facility"). The
Proposed Credit Facility is expected to mature five years from the closing date
of the Proposed Credit Facility; to be secured by all material assets of Aztec;
and to be subject to terms and conditions customary for facilities of this kind,
including certain financial covenants. Interest rate options will be available
to Aztec depending on the satisfaction of certain specified financial ratios.
The commitment is conditioned on, among other things, the absence of material
adverse changes to Aztec's business, and the Proposed Credit Facility itself was
conditioned on, among other things, the satisfactory completion of due
diligence, Aztec having a satisfactory capital and corporate structure, and the
negotiation, execution, and delivery of satisfactory documentation.
 
    The Company filed a Registration Statement with the SEC for the issuance of
Common Stock in an underwritten public offering that was expected to close prior
to or concurrent with the Distribution. However, the Company has elected not to
raise additional capital through an underwritten offering at this time. The
Company expects to close the Proposed Credit Facility by the end of July 1998.
As of June 9,
 
                                       15
<PAGE>
1998, Aztec had access to an interim unsecured $15 million working capital line
of credit from BankBoston, N.A. Any advances made under this line of credit
would be due upon demand, or, if no demand is made, the earlier of (i) August
31, 1998, or (ii) the date on which Aztec enters into definitive loan
documentation with BankBoston, N.A. The Company anticipates that its working
capital line of credit and cash flow from operations will be sufficient to meet
the Company's liquidity requirements for its operations through the end of
fiscal 1999. However, the Company intends to pursue acquisitions which are
expected to be funded through a combination of cash and shares of Common Stock.
While the Proposed Credit Facility is expected to fund the Company's acquisition
program, there can be no assurances that additional sources of financing will
not be required during the next 12 months or thereafter.
 
    As a result of the provisions of Section 355 of the Internal Revenue Code,
the Company may be subject to constraints in its ability to issue additional
shares of Common Stock in certain transactions for two years following the date
of the Distribution. In particular, if 50% or more, by vote or value, of the
capital stock of Aztec is acquired by one or more persons acting pursuant to a
plan or series of transactions that includes the Distribution, Aztec will suffer
significant tax liability. Aztec will evaluate any significant future issuance
of capital stock to avoid the imposition of such tax liability.
 
    The following table sets forth certain unaudited quarterly financial data
for fiscal 1996, fiscal 1997 and fiscal 1998 (in thousands). The information has
been derived from unaudited consolidated financial statements that, in the
opinion of management, reflect adjustments consisting only of normal recurring
accruals necessary for a fair presentation of such quarterly information.
 
<TABLE>
<CAPTION>
                                                                             FISCAL YEAR ENDED MARCH 31, 1996
                                                                        ------------------------------------------
<S>                                                                     <C>        <C>        <C>        <C>
                                                                          FIRST     SECOND      THIRD     FOURTH
                                                                        ---------  ---------  ---------  ---------
Revenues..............................................................  $  30,536  $  27,653  $  27,173  $  28,693
Gross profit..........................................................      9,490      7,462      6,249      6,741
Operating income (loss)...............................................      5,296      3,036      1,222       (122)
Net income............................................................      5,315      2,936      1,103        288
</TABLE>
 
<TABLE>
<CAPTION>
                                                                             FISCAL YEAR ENDED APRIL 26, 1997
                                                                        ------------------------------------------
<S>                                                                     <C>        <C>        <C>        <C>
                                                                          FIRST     SECOND      THIRD     FOURTH
                                                                        ---------  ---------  ---------  ---------
Revenues..............................................................  $  34,263  $  31,898  $  35,134  $  34,983
Gross profit..........................................................      7,982      7,608      9,656      8,903
Operating income (1)..................................................      2,695      1,779      3,229      2,647
Net income............................................................      2,617      1,315      1,625      1,166
</TABLE>
 
<TABLE>
<CAPTION>
                                                                            FISCAL YEAR ENDING APRIL 25, 1998
                                                                        ------------------------------------------
<S>                                                                     <C>        <C>        <C>        <C>
                                                                          FIRST     SECOND      THIRD     FOURTH
                                                                        ---------  ---------  ---------  ---------
Revenues..............................................................  $  42,730  $  36,875  $  62,907  $  65,829
Gross profit..........................................................      9,047      9,718     15,852     15,407
Operating income (2)..................................................      2,749      3,687      4,816        997
Net income (loss).....................................................      1,636      2,233      2,703        (98)
</TABLE>
 
------------------------
 
(1) Reflects a one-time charge of $1,105, $801, and $368 for the second, third,
    and fourth quarters, respectively, for non-recurring acquisition costs.
 
(2) Reflects, for the fourth quarter, one-time charges of $1,750 for strategic
    restructuring costs and $1,500 for spin-off related costs.
 
                                       16
<PAGE>
CERTAIN FACTORS THAT MAY AFFECT FUTURE RESULTS
 
    The following important factors, among others, could cause actual results to
differ from those indicated by forward-looking statements made in this Annual
Report on Form 10-K and presented elsewhere by management from time to time.
 
ABSENCE OF HISTORY AS A STAND-ALONE COMPANY
 
    Aztec is the product of the consolidation by U.S. Office Products of ten
regional IT solutions companies. Prior to June 9, 1998, Aztec had not operated
as an independent entity. The operations of Aztec as a stand-alone, consolidated
entity may place significant demands on Aztec's management, operational, and
technical resources. Prior to the Distribution, certain administrative functions
relating to Aztec's business (including some legal and accounting services) were
handled by U.S. Office Products. Aztec's future performance will depend on its
ability to function as a stand-alone entity, to finance and manage expanding
operations, and to adapt its information systems to changes in its business.
Aztec's expenses may be higher than when it was a part of U.S. Office Products.
 
VARIABILITY OF QUARTERLY OPERATING RESULTS
 
    The Company has experienced and may in the future continue to experience
fluctuations in its quarterly operating results. Factors that may cause the
Company's quarterly operating results to vary include the number of active
client projects, the requirements of client projects, the termination of major
client projects, the loss of major clients, the timing of new client
engagements, and the timing of personnel cost increases. Certain of these
factors may also affect the Company's personnel utilization rates which may
cause further variation in quarterly operating results. The timing of revenues
is difficult to forecast because the Company's sales cycle is relatively long
and the Company's services are impacted by both the financial condition and
management decisions of its clients and general economic conditions. Because a
high percentage of the Company's expenses are relatively fixed at the beginning
of any period and the Company's general policy is to not adjust its staffing
levels based upon what it views as short-term circumstances, a variation in the
timing of the initiation or the completion of client assignments, particularly
at or near the end of any quarter, can cause significant variations in operating
results from quarter to quarter and could result in losses for any particular
period. In addition, many of the Company's engagements are, and may be in the
future, terminable by its clients without penalty. A termination of a major
project could require the Company to maintain under-utilized employees,
resulting in a higher than expected percentage of unassigned professionals, or
to terminate the employment of excess personnel. Due to all of the foregoing
factors, there can be no assurance that the Company's results of operations will
not be below the expectations of investors for any given fiscal period.
 
ATTRACTION AND RETENTION OF EMPLOYEES
 
    Aztec's business involves the delivery of professional services and is labor
intensive. Aztec's success depends in large part on its ability to attract,
develop, motivate, and retain technical professionals. Approximately 65% of
Aztec's employees are technical professionals. Qualified technical professionals
are in great demand and are likely to remain a limited resource for the
foreseeable future. There can be no assurance that Aztec will be able to attract
and retain sufficient numbers of technical professionals in the future. Aztec
has historically experienced turnover rates which it believes are consistent
with industry norms. It is possible that the spin-off of Aztec from U.S. Office
Products could cause more employees to leave Aztec. An increase in turnover
rates could have a material adverse effect on Aztec's business, including its
ability to secure and complete engagements and obtain new business, which could
have a material adverse effect on Aztec's operating results and financial
condition.
 
                                       17
<PAGE>
DEPENDENCE UPON ACQUISITIONS FOR FUTURE GROWTH
 
    One of Aztec's strategies is to expand its revenues and the markets it
serves through the acquisition of additional businesses. As with all companies
using an acquisition strategy to expand revenues, there can be no assurance that
suitable candidates can be identified, or, if suitable acquisition candidates
are identified, that such acquisitions can be completed on acceptable terms. The
pace of Aztec's acquisition program may be adversely affected by these and other
market factors, and may also be affected by the absence of U.S. Office Products'
legal and accounting support for the acquisitions. Further, Aztec intends to use
Aztec Common Stock to pay for certain of its acquisitions. If the owners of
potential acquisition candidates are not willing to receive shares of Aztec
Common Stock in exchange for their businesses, Aztec's acquisition program could
be adversely affected. Further, Aztec is subject to limitations on the number of
shares it can issue without jeopardizing the tax-free treatment of the
Distribution.
 
RISKS RELATED TO INTEGRATION OF ACQUISITIONS
 
    Integration of acquisitions may involve a number of special risks that could
have a material adverse effect on Aztec's operating results and financial
condition, including: adverse short-term effects on its reported operating
results (including restructuring charges associated with the acquisitions and
other expenses associated with a change of control, non-recurring acquisition
costs including accounting and legal fees, investment banking fees, amortization
of acquired intangible assets, recognition of transaction-related obligations,
and various other acquisition-related costs); diversion of management's
attention; difficulties with retention, hiring and training of key personnel;
and risks associated with unanticipated problems or legal liabilities. Although
Aztec will conduct due diligence and generally require representations,
warranties and indemnifications from the former owners of acquired companies,
there can be no assurance that such owners will have accurately represented the
financial and operating conditions of their companies. If an acquired company's
financial or operating results were misrepresented, or the acquired company
otherwise fails to perform as anticipated, the acquisition could have a material
adverse effect on the operating results and financial condition of Aztec.
 
RISKS RELATED TO ACQUISITION FINANCING; ADDITIONAL DILUTION
 
    Aztec currently intends to finance its future acquisitions by using shares
of Aztec Common Stock, cash, borrowed funds, or a combination thereof. If Aztec
Common Stock does not maintain a sufficient market value, if the price of Aztec
Common Stock is highly volatile, or if potential acquisition candidates are
otherwise unwilling to accept Aztec Common Stock as part of the consideration
for the sale of their businesses, Aztec may be required to use more of its cash
resources or more borrowed funds in order to initiate and maintain its
acquisition program. If Aztec does not have sufficient cash resources, its
growth could be limited unless it is able to obtain additional capital through
debt or equity offerings. Prior to the Distribution, Aztec was not responsible
for obtaining external sources of funding. On June 18, 1998, Aztec entered into
a commitment letter with BankBoston, N.A. for the $140 million Proposed Credit
Facility, up to $15 million of which may be used for working capital and other
general corporate purposes and up to $125 million may be used to fund permitted
acquisitions. The Proposed Credit Facility is expected to mature five years from
the closing date; to be secured by all assets of Aztec; and to be subject to
terms and conditions customary for facilities of this kind, including certain
financial covenants. The obligations of Aztec under the Proposed Credit Facility
will be guaranteed by all of Aztec's subsidiaries, which subsidiaries have
secured such guarantees by all of their assets. Interest rate options made
available to Aztec depend on the satisfaction of certain specified financial
ratios. The commitment is conditioned on, among other things, the absence of
material adverse charges to Aztec's business, and the Proposed Credit Facility
itself is conditioned on, among other things, the satisfactory completion of due
diligence. Aztec having a satisfactory capital and corporate structure and the
negotiation, execution, and delivery of satisfactory documentation.
 
                                       18
<PAGE>
    The Company filed a Registration Statement with the SEC for the issuance of
Common Stock in an underwritten public offering that was expected to close prior
to or concurrent with the Distribution. However, the Company has elected not to
raise additional capital through an underwritten offering at this time. The
Company anticipates that its working capital from its Proposed Credit Facility
and cash flow from operations will be sufficient to meet the Company's liquidity
requirements for its operations through the end of fiscal 1999. However, the
Company intends to pursue acquisitions which are expected to be funded through a
combination of cash and shares of Common Stock. There can be no assurance that
additional sources of financing will not be required during the next twelve
months or thereafter.
 
    If Aztec does not have sufficient cash resources, its growth could be
limited unless it is able to obtain additional capital through debt or equity
offerings. However, the use of equity offerings in connection with the
Distribution will also be subject to certain limitations on the number of shares
that Aztec can issue without jeopardizing the tax-free treatment of the
Distribution.
 
    Aztec has 150 million authorized shares of Aztec Common Stock, a portion of
which could be available (subject to the rules and regulations of federal and
state securities laws, applicable limits under U.S. Federal income tax laws and
rules, and rules of the Nasdaq Stock Market) to finance acquisitions without
obtaining stockholder approval for such issuances. The issuance of additional
shares of Aztec Common Stock may have a negative impact on earnings per share
and may negatively impact the market price of Aztec Common Stock.
 
RELIANCE ON KEY PERSONNEL
 
    Aztec's operations depend on the continued efforts of James E. Claypoole,
its Chairman and Chief Executive Officer, Ira Cohen, its Chief Operating
Officer, Douglas R. Johnson, its Executive Vice President and Chief Financial
Officer, its operating company presidents, and the senior management of certain
of its operating companies. Furthermore, Aztec's operations will likely depend
on the senior management of certain of the companies that it may acquire in the
future. If any of these people becomes unable to continue in his or her present
role, or if Aztec is unable to attract and retain other skilled professionals,
its business could be adversely affected. Aztec does not currently maintain key
man life insurance policies for any of its officers or other personnel. Aztec
has entered into an employment agreement with its Chairman and Chief Executive
Officer and intends to enter into employment agreements with its Executive Vice
President and Chief Financial Officer, its Chief Operating Officer and its
operating company presidents. Such agreements will be generally terminable
without cause on 30 days' notice by either Aztec or the employee.
 
    In addition, Jonathan J. Ledecky serves as a director and employee of Aztec
and provides services to Aztec pursuant to an employment agreement entered into
between Mr. Ledecky and Aztec. U.S. Office Products has assigned to Aztec
certain rights of, and obligations under, U.S. Office Products services
agreement, as amended, with Mr. Ledecky dated January 13, 1998 (the "Ledecky
Services Agreement"). Mr. Ledecky will also serve as a director and employee of
each of the other Spin-Off Companies, and is a director or an officer of two
other public companies. Mr. Ledecky may be unable to devote substantial time to
the activities of Aztec.
 
POTENTIAL CONFLICTS OF INTEREST IN THE DISTRIBUTIONS
 
    Aztec, U.S. Office Products, and the other companies spun-off by U.S. Office
Products on June 9, 1998 (together with Aztec, the "Spin-Off Companies") entered
into the Distribution Agreement, Tax Allocation Agreement, and Employee Benefits
Agreement, and the Spin-Off Companies entered into the Tax Indemnification
Agreement. These agreements provide for, among other things, U.S. Office
Products and Aztec to indemnify each other from tax and other liabilities
relating to their respective businesses prior to and following the Distribution.
 
                                       19
<PAGE>
    Certain indemnification obligations of Aztec and the other Spin-Off
Companies to U.S. Office Products are joint and several. Therefore, if one of
the other Spin-Off Companies fails to satisfy its indemnification obligations to
U.S. Office Products when such a loss occurs, Aztec may be required to reimburse
U.S. Office Products for all or a portion of the losses that otherwise would
have been allocated to such other Spin-Off Company. In addition, the agreements
allocate certain liabilities, including general corporate and securities
liabilities of U.S. Office Products not specifically related to the specific
businesses to be conducted by the Spin-Off Companies and post-Distribution U.S.
Office Products among U.S. Office Products and each of the Spin-Off Companies.
Adverse developments involving U.S. Office Products or the other Spin-Off
Companies, or material disputes with U.S. Office Products following the
Distribution, could have a material adverse effect on Aztec.
 
    The terms of the agreements that govern the relationships among Aztec, U.S.
Office Products and the other Spin-Off Companies were established by U.S. Office
Products in consultation with management of Aztec and the other Spin-Off
Companies prior to the Distributions and while Aztec and the other Spin-Off
Companies were wholly-owned subsidiaries of U.S. Office Products. The terms of
these agreements, including the allocation of general corporate and securities
liabilities among U.S. Office Products, Aztec, and the other Spin-Off Companies,
may not be the same as they would be if the agreements were the result of
arms'-length negotiations. Accordingly, there can be no assurance that the terms
and conditions of the agreements are not more or less favorable to Aztec than
those that might have been obtained from unaffiliated third parties.
 
    On the Distribution Date, Jonathan J. Ledecky, Chairman of the U.S. Office
Products Board of Directors (the "U.S. Office Products Board"), received options
for shares of each of the Spin-Off Companies exercisable for 7.5% of the common
stock of each Spin-Off Company. As a result, Mr. Ledecky has interests in the
Distributions that differ in certain respects from, and may conflict with, the
interests of other stockholders of U.S. Office Products and Aztec.
 
RAPID TECHNOLOGICAL CHANGE
 
    As with all IT solutions companies, Aztec's success will depend in part on
its ability to develop IT solutions that keep pace with continuing changes in
IT, evolving industry standards, and changing client preferences. There can be
no assurance that Aztec will be successful in adequately addressing these
developments on a timely basis or that, if these developments are addressed,
Aztec will be successful in the marketplace. In addition, there can be no
assurance that products or technologies developed by others will not render
Aztec's services uncompetitive or obsolete. Aztec's failure to address these
developments could have a material adverse effect on Aztec's operating results
and financial condition.
 
COMPETITION
 
    The IT solutions market includes a large number of participants, is subject
to rapid changes, and is highly competitive. The Company competes with, and
faces potential competition for client assignments and experienced personnel
from, a number of companies that have significantly greater financial, technical
and marketing resources, generate greater revenues, and have greater name
recognition than does the Company. The Company believes that the principal
competitive factors in the segment of the industry in which the Company competes
include scope of services, service delivery approach, technical and industry
expertise, perceived value, objectivity and results orientation. The Company
believes that its ability to compete also depends in part on a number of
competitive factors outside of its control, including the ability of its
competitors to hire, retain and motivate senior managers, the price at which
others offer comparable services and the extent of its competitors'
responsiveness to customer needs. There can be no assurance that the Company
will be able to compete successfully with its competitors in the future.
 
                                       20
<PAGE>
POTENTIAL LIABILITY FOR TAXES RELATED TO THE DISTRIBUTIONS
 
    In connection with the Distributions, Aztec entered into the Tax Allocation
Agreement with U.S. Office Products and the other Spin-Off Companies, which
provides that Aztec and the other Spin-Off Companies will jointly and severally
indemnify U.S. Office Products for any losses associated with taxes related to
the Distributions ("Distribution Taxes") if an action or omission (an "Adverse
Tax Act") of any of the Spin-Off Companies materially contributes to a final
determination that any or all of the Distributions are taxable. Aztec also
entered into the Tax Indemnification Agreement with the other Spin-Off Companies
under which the Spin-Off Company that is responsible for the Adverse Tax Act
will indemnify the other Spin-Off Companies for any liability to indemnify U.S.
Office Products under the Tax Allocation Agreement. As a consequence, Aztec will
be liable for any Distribution Taxes resulting from any Adverse Tax Act by Aztec
and will be liable (subject to indemnification by the other Spin-Off Companies)
for any Distribution Taxes resulting from an Adverse Tax Act by the other
Spin-Off Companies. If there is a final determination that any or all of the
Distributions are taxable and it is determined that there has not been an
Adverse Tax Act by either U.S. Office Products or any of the Spin-Off Companies,
U.S. Office Products and each of the Spin-Off Companies will be liable for its
pro rata portion of the Distribution Taxes based on the value of each company's
common stock after the Distributions. As a result, Aztec could become liable for
a pro rata portion for Distribution Taxes with respect to not only the
Distribution but any of the other Distributions.
 
RISKS RELATED TO ALLOCATION FOR CERTAIN LIABILITIES
 
    Under the Distribution Agreement, Aztec is liable for (i) any liabilities
arising out of or in connection with the business conducted by it or its
subsidiaries, (ii) its liabilities under the Employee Benefits Agreement, Tax
Allocation Agreement and related agreements, (iii) the U.S. Office Products debt
that has been allocated to the Company, (iv) liabilities under the securities
laws relating to the Prospectus related to the Offering and portions of the
Information Statement/Prospectus, as well as other securities law liabilities
related to the Aztec business that arise from information supplied to U.S.
Office Products (or that should have been supplied, but was not) by Aztec, (v)
U.S. Office Products' liabilities for earn-outs from acquisitions in respect of
Aztec and its subsidiaries, (vi) Aztec's costs and expenses related to a planned
public offering that did not occur and its bank credit facility, and (vii) $1.0
million of the transaction costs (including legal, accounting, investment
banking and financial advisory) and other fees incurred by U.S. Office Products
in connection with its Strategic Restructuring Plan. Each of the other Spin-Off
Companies will be similarly obligated to U.S. Office Products. Aztec and the
other Spin-Off Companies have also agreed to bear a pro rata portion of (i) U.S.
Office Products' liabilities under the securities laws (other than claims
relating solely to a specific Spin-Off Company or relating specifically to the
continuing businesses of U.S. Office Products) and (ii) U.S. Office Products'
general corporate liabilities (other than debt, except for that specifically
allocated to the Spin-Off Companies) incurred prior to the Distributions (i.e.,
liabilities not related to the conduct of a particular distributed or retained
subsidiary's business) (the "Shared Liabilities"). If one of the other Spin-Off
Companies defaults on an obligation owed to U.S. Office Products, the other
non-defaulting Spin-Off Companies will be obligated on a pro rata basis to pay
such obligation ("Default Liability"). As a result of the Shared Liabilities and
Default Liability, Aztec could be obligated to U.S. Office Products in respect
of obligations and liabilities not related to its business or operations and
over which neither it nor its management has or has had any control or
responsibility. The aggregate of the Shared Liabilities and Default Liability
for which any Spin-Off Company may be liable is, however, limited to $1.75
million.
 
POSSIBLE LIMITATIONS ON ISSUANCES OF COMMON STOCK
 
    Section 355(e) of the Code, which was added in 1997, generally provides that
a company that distributes shares of a subsidiary in a spin-off that is
otherwise tax-free will incur federal income tax liability if 50% or more, by
vote or value, of the capital stock of either the company making the
distribution
 
                                       21
<PAGE>
or the spun-off subsidiary is acquired by one or more persons acting pursuant to
a plan or series of related transactions that include the spin-off. Stock
acquired by certain related persons is aggregated in determining whether the 50%
test is met. There is a presumption that any acquisition occurring two years
before or after the spin-off is pursuant to a plan that includes the spin-off.
However, the presumption may be rebutted by establishing that the spin-off and
such acquisition are not part of a plan or series of related transactions. As a
result of the provisions of Section 355(e), there can be no assurance that
issuances of stock by Aztec, including issuances in connection with an
acquisition of another business by Aztec, will not create a tax liability for
U.S. Office Products.
 
    Aztec entered into a Tax Allocation Agreement and a Tax Indemnification
Agreement pursuant to which Aztec will be liable to U.S. Office Products and the
other Spin-Off Companies if its actions or omissions materially contribute to a
final determination that the Distribution is taxable.
 
    This limitation could adversely affect the pace of Aztec's acquisitions and
its ability to issue Aztec Common Stock for other purposes, including equity
offerings.
 
MATERIAL AMOUNT OF GOODWILL
 
    As of April 25, 1998, approximately $63.8 million, or 45.1% of Aztec's total
assets and 60.6% of Aztec's stockholders' equity represents goodwill. Goodwill
represents the excess of cost over the fair market value of net assets acquired
in business combinations accounted for under the purchase method of accounting.
Aztec currently amortizes goodwill on a straight line method over a period
ranging from 25-40 years with the amount amortized in a particular period
constituting a non-cash expense that reduces Aztec's net income. Amortization of
goodwill resulting from certain past acquisitions, and additional goodwill
recorded in certain future acquisitions, may not be deductible for tax purposes.
In addition, Aztec will be required to periodically evaluate the recoverability
of goodwill by reviewing the anticipated undiscounted future cash flows from the
operations of the acquired companies and comparing such cash flows to the
carrying value of the associated goodwill. If goodwill becomes impaired, Aztec
would be required to write down the carrying value of the goodwill and incur a
related charge to its income. A reduction in net income resulting from the
amortization or write down of goodwill could have a material and adverse impact
upon the market price of Aztec Common Stock. Aztec believes that anticipated
cash flows associated with intangible assets recognized in the acquisitions
completed during fiscal 1998 will continue over the period during which the
associated goodwill will be amortized, and there is no persuasive evidence that
any material portion will dissipate during such period.
 
INABILITY TO USE POOLING-OF-INTERESTS ACCOUNTING
 
    Generally accepted accounting principles require that an entity be
autonomous for a period of two years before it is eligible to complete business
combinations accounted for under the pooling-of-interests method. As a result of
Aztec being a wholly-owned subsidiary of U.S. Office Products, Aztec will be
precluded from completing business combinations accounted for under the
pooling-of-interests method for a period of two years and any business
combinations completed by Aztec during such period will be accounted for under
the purchase method resulting in the recording of goodwill. The amortization of
the goodwill will reduce income reported by Aztec below that which would have
been reported if the pooling-of-interests method had been used by Aztec.
 
CONSIDERATION FOR OPERATING COMPANIES EXCEEDS ASSET VALUE
 
    To date, the purchase prices of Aztec's acquisitions have not been
established by independent appraisals, but generally have been determined
through arm's-length negotiations between Aztec's management and representatives
of such acquired companies. The consideration paid for each such company has
been and will continue to be based primarily on the value of such company as a
going concern and not on the value of the acquired assets. Valuations of
acquired companies determined solely by appraisals of
 
                                       22
<PAGE>
the acquired assets typically would have been less than the consideration paid
for the companies. No assurance can be given that the future performance of such
companies will be commensurate with the consideration paid. Aztec does not
expect to value future acquisitions on the basis of asset appraisals. Therefore,
this risk will apply to future acquisitions as well.
 
EFFECT OF ANTI-TAKEOVER PROVISIONS
 
    The Aztec Board has the authority to issue up to 1,000,000 shares of
preferred stock and to determine the price, rights, preferences and privileges
of those shares without any further vote or action by Aztec stockholders. The
rights of the holders of Aztec Common Stock will be subject to, and may be
adversely affected by, the rights of the holders of preferred stock. While Aztec
has no present intention to issue shares of preferred stock, such issuance,
while providing desired flexibility in connection with possible acquisitions or
other corporate purposes, could have the effect of delaying, deferring or
preventing a change in control of Aztec and entrenching current management. In
addition, such preferred stock may have other rights, including economic rights
senior to those of the Aztec Common Stock, and, as a result, the issuance
thereof could have a material adverse effect on the market value of the Aztec
Common Stock.
 
    A number of provisions of Aztec's Amended and Restated Certificate of
Incorporation and Amended and Restated By-Laws and the Delaware General
Corporation Law and regulations relating to matters of corporate governance,
certain rights of directors and the issuance of preferred stock without
stockholder approval, may be deemed to have and may have the effect of making
more difficult, and thereby discourage, a merger, tender offer, proxy contest or
assumption of control and change of incumbent management, even when stockholders
other than Aztec's principal stockholders consider such a transaction to be in
their best interest.
 
    In addition, the Aztec Board of Directors is evaluating the adoption of a
shareholder rights plan (a "Rights Plan") pursuant to which stockholders would
receive the right to acquire a fractional share of preferred stock upon certain
events, including the acquisition of more than 15% of the shares of outstanding
Aztec Common Stock, or the commencement of a tender offer for the purchase of
more than 15% of the outstanding Aztec Common Stock. The effect of such a Rights
Plan would be to defer takeover attempts for Aztec that were not approved in
advance by the Aztec Board of Directors.
 
INTELLECTUAL PROPERTY RIGHTS
 
    The success of certain operating companies within Aztec is dependent in part
on certain methodologies these companies use in designing, installing, and
integrating computer software and systems and other proprietary intellectual
property rights. These operating companies rely on a combination of
nondisclosure and other contractual arrangements and trade secret, copyright,
and trademark laws to protect their proprietary rights and the proprietary
rights of third parties, enter into confidentiality agreements with their key
employees, and limit distribution of proprietary information. There can be no
assurance that the steps taken by these operating companies in this regard will
be adequate to deter misappropriation of proprietary information or that these
operating companies will be able to detect unauthorized use and take appropriate
steps to enforce their intellectual property rights.
 
    Although Aztec believes that its services do not infringe the intellectual
property rights of others and that it has all rights necessary to utilize the
intellectual property employed in its business, Aztec is subject to the risk of
claims alleging infringement of third-party intellectual property rights. Any
such claims could require Aztec to spend significant sums in litigation, pay
damages, develop non-infringing intellectual property, or acquire licenses to
the intellectual property that is the subject of an asserted infringement claim.
 
NO DIVIDENDS
 
    The Company has never paid any cash dividends and does not anticipate paying
cash dividends on its Common Stock in the foreseeable future. Aztec's ability to
pay dividends will be restricted by the Proposed Credit Facility.
 
                                       23
<PAGE>
INFLATION
 
    Aztec does not believe that inflation has had a material impact on its
results of operations during fiscal 1996, fiscal 1997, or fiscal 1998
 
NEW ACCOUNTING PRONOUNCEMENT
 
    SOFTWARE REVENUE RECOGNITION.  In October 1997, the Accounting Standards
Executive Committee of the American Institute of Certified Public Accountants
issued Statement of Position ("SOP") 97-2, "Software Revenue Recognition." SOP
97-2 provides guidance on the timing and amount of revenue recognition when
licensing, selling, leasing or otherwise marketing computer software. SOP 97-2
supersedes SOP 91-1 (also entitled "Software Revenue Recognition") and is
effective for transactions entered into during fiscal years beginning after
December 15, 1997. The adoption of SOP 97-2 is not expected to have a material
effect on the Company's financial position or its results of operations.
 
    REPORTING COMPREHENSIVE INCOME.  In June 1997, FASB issued SFAS No. 130,
"Reporting Comprehensive Income." SFAS No. 130 establishes standards for the
reporting and display of comprehensive income and its components (revenues,
expenses, gains, and losses) in a full set of general purpose financial
statements. SFAS No. 130 requires that all items required to be recognized under
accounting standards as components of comprehensive income be reported in a
financial statement that is displayed with the same prominence as other
financial statements. SFAS No. 130 is effective for fiscal years beginning after
December 15, 1997. Reclassification of financial statements for earlier periods
provided for comparative purposes is required. Aztec intends to adopt SFAS No.
130 by the end of the 1998 calendar year. Implementation of this disclosure
standard will not affect the Company's financial position or results of
operations.
 
    DISCLOSURES ABOUT SEGMENTS OF AN ENTERPRISE AND RELATED INFORMATION.  In
June 1997, the FASB issued SFAS No. 131, "Disclosures about Segments of an
Enterprise and Related Information." SFAS No. 131 establishes standards for
reporting information about operating segments in annual and interim financial
statements. Operating segments are determined consistent with the way management
organizes and evaluates financial information internally for making decisions
and assessing performance. It also requires related disclosures about products,
geographic areas, and major customers. SFAS 131 is effective for fiscal years
beginning after December 15, 1997. The Company intends to adopt SFAS No. 131 by
the end of the 1998 calendar year. Implementation of this disclosure standard
will not affect the Company's financial position or results of operations.
 
YEAR 2000 ISSUE
 
    Many existing computer programs were designed and developed without
considering the impact of the upcoming change in the century and consequently
use only two digits to identify a year in the date field. If not corrected, many
computer applications could fail or create erroneous results by or at the year
2000 (the "Year 2000 Issue"). The Company has reviewed the potential impact of
the Year 2000 Issue on its business, operations and financial condition and has
concluded that it will not be material.
 
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
 
    See the Index to the Company's Consolidated Financial Statements and
Financial Statement Schedule and the accompanying consolidated financial
statements, notes and schedules which are filed as part of this Form 10-K
following the signature page.
 
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURE
 
    None.
 
                                       24
<PAGE>
                                    PART III
 
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
 
    Information required by this Item appears in sections captioned "Nominees,"
"Other Executive Officers" and "Section 16(a) Beneficial Ownership Reporting
Compliance" in the Company's definitive Proxy Statement to be delivered to
stockholders in connection with the 1998 Annual Meeting of Stockholders to be
held on September 25, 1998 (the "1998 Proxy Statement"). Such information is
incorporated herein by reference.
 
ITEM 11. EXECUTIVE COMPENSATION
 
    Information required by this Item appears in sections captioned "Directors'
Compensation," "Compensation Committee Interlocks and Insider Participation,"
"Compensation Committee Report on Executive Compensation," "Comparative Stock
Performance," "Executive Compensation," "Employment Arrangements," "Stock Option
Grants," "Option Exercises and Year-End Option Table," "Repricing of Options"
and "Compensation Committee Report on Option Repricing" in the 1998 Proxy
Statement. Such information is incorporated herein by reference.
 
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
 
    Information required by this Item appears in section captioned "Security
Ownership of the Company" in the 1998 Proxy Statement. Such information is
incorporated herein by reference.
 
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
 
    Information required by this Item appears in sections captioned "Directors'
Compensation" and "Certain Relationships and Related Transactions" in the 1998
Proxy Statement. Such information is incorporated herein by reference.
 
                                    PART IV
 
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULE AND REPORTS ON FORM 8-K
 
(a) Documents filed as part of this Form 10-K
 
    1.  Consolidated Financial Statements. The Consolidated Financial Statements
       listed in the Index to Consolidated Financial Statements and Financial
       Statement Schedule are filed as part of this Annual Report on Form 10-K.
 
    2.  Financial Statement Schedule. The Financial Statement Schedule listed in
       the Index to Consolidated Financial Statements and Financial Statement
       Schedule is filed as part of this Annual Report on Form 10-K.
 
    3.  Exhibits. The Exhibits listed in the Exhibit Index immediately preceding
       such Exhibits are filed as part of this Annual Report on Form 10-K.
 
(b) Reports on Form 8-K.
 
    The Registrant filed a Current Report on Form 8-K on July 2, 1998 reporting
that the Board of Directors voted to change the Company's fiscal year end from
the last Saturday in April to December 31. In addition, the July 2, 1998 Form
8-K press release exhibits announced year end and fourth quarter
 
                                       25
<PAGE>
operating results for the period ending April 25, 1998, the signing of a letter
of intent for an acquisition and the signing of a commitment letter for a $140
million credit and acquisition facility.
 
<TABLE>
<CAPTION>
EXHIBIT                                                    DESCRIPTION
------------  ------------------------------------------------------------------------------------------------------
<C>           <S>
 
     3.1 **   Amended and Restated Certificate of Incorporation
 
     3.2 **   Amended and Restated By-laws
 
     4.1 *    Form of certificate representing shares of Common Stock
 
    10.1 **   Distribution Agreement among U.S. Office Products, Workflow Graphics, Inc., Aztec Technology Partners,
              Inc., Navigant International, Inc., and School Specialty, Inc.
 
    10.2 **   Tax Allocation Agreement among U.S. Office Products, Workflow Graphics, Inc., Aztec Technology
              Partners, Inc., Navigant International, Inc., and School Specialty, Inc.
 
    10.3 *+   Employment Agreement, dated October 15, 1996, between Bay State Computer Group and James E. Claypoole.
 
    10.4 *+   Ledecky Services Agreement, as amended
 
    10.5 *+   Employment Agreement, dated October 15, 1996, between Bay State Computer Group and Elizabeth M.
              Claypoole
 
    10.6 **   Tax Indemnification Agreement among U.S. Office Products, Workflow Graphics, Inc., Aztec Technology
              Partners, Inc., Navigant International, Inc., and School Specialty, Inc.
 
    10.7 **+  Employee Benefits Agreement among U.S. Office Products, Workflow Graphics, Inc., Aztec Technology
              Partners, Inc., Navigant International, Inc., and School Specialty, Inc.
 
    10.8 **+  1998 Stock Incentive Plan
 
    10.9 *+   Form of Employment Agreement between Aztec and Jonathan Ledecky
 
    10.10**+  Employment Agreement between Aztec and James Claypoole
 
    10.11*+   Form of Employment Agreement between Aztec and Douglas Johnson
 
    10.12*+   Form of Employment Agreement between Aztec and Ira Cohen
 
    10.13**+  1998 Employee Stock Purchase Plan
 
    10.14**+  1998 Non-Employee Director Stock Option Plan
 
21**          Subsidiaries of Registrant
 
    23.1 **   Consent of PricewaterhouseCoopers LLP
 
    23.2 **   Consent of Rubin, Koehmstedt & Nadler, PLC
 
  27**        Financial data schedule
</TABLE>
 
------------------------
 
*   Incorporated herein by reference to the Company's Registration Statement on
    Form S-1 (File No. 333-46533) filed on June 10, 1998.
 
**  Filed herewith.
 
+   Denotes management contract or compensatory plan or arrangement.
 
                                       26
<PAGE>
    The exhibits listed above are not contained in the copy of the annual report
on Form 10-K distributed to stockholders. Upon the request of any stockholder
entitled to vote at the 1998 Annual Meeting, the Registrant will furnish that
person, without charge, a copy of any exhibits listed above. Requests should be
sent in writing to:
 
       Douglas R. Johnson
       Executive Vice President & CFO
       Aztec Technology Partners
       50 Braintree Hill Office Park, Suite 220
       Braintree, MA 02184
 
                                       27
<PAGE>
                                   SIGNATURES
 
    Pursuant to the requirements of Section 13 or 15(d) 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, on July 24, 1998.
 
                                AZTEC TECHNOLOGY PARTNERS, INC.
 
                                BY:            /S/ JAMES E. CLAYPOOLE
                                     -----------------------------------------
                                              Name: James E. Claypoole
                                     Title: Chairman of the Board of Directors
                                            and Chief Executive Officer
 
    Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report has been signed below by the following persons on behalf of the
registrant the capacities and on the dates indicated.
 
          SIGNATURE                        TITLE                    DATE
------------------------------  ---------------------------  -------------------
 
                                Chairman of the Board of
    /s/ JAMES E. CLAYPOOLE        Directors and Chief
------------------------------    Executive Officer             July 24, 1998
      James E. Claypoole          (Principal Executive
                                  Officer)
 
                                Executive Vice President
                                  and Chief Financial
    /s/ DOUGLAS R. JOHNSON        Officer (Principal
------------------------------    Financial Officer and         July 24, 1998
      Douglas R. Johnson          Principal Accounting
                                  Officer)
 
    /s/ LAWRENCE M. HOWELL      Director
------------------------------                                  July 24, 1998
      Lawrence M. Howell
 
                                Director
------------------------------                                  July   , 1998
     Jonathan J. Ledecky
 
   /s/ CLIFFORD MITMAN, JR.     Director
------------------------------                                  July 24, 1998
     Clifford Mitman, Jr.
 
    /s/ BENJAMIN TANDOWSKI      Director
------------------------------                                  July 24, 1998
      Benjamin Tandowski
 
                                       28
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
INDEX TO FINANCIAL STATEMENTS
 
<TABLE>
<CAPTION>
                                                                                                                 PAGE
                                                                                                               ---------
<S>           <C>                                                                                              <C>
  AZTEC TECHNOLOGY PARTNERS, INC. HISTORICAL FINANCIAL STATEMENTS
 
              Report of PricewaterhouseCoopers LLP, Independent Accountants                                          F-2
 
              Report of Rubin, Koehmstedt and Nadler, Independent Auditors                                           F-3
 
              Consolidated Balance Sheet as of April 25, 1998 and April 26, 1997                                     F-4
 
              Consolidated Statement of Income for the fiscal years ended April 25, 1998,
              April 26, 1997 and March 31, 1996                                                                      F-5
 
              Consolidated Statement of Stockholder's Equity for the fiscal years ended
              April 25, 1998, April 26, 1997 and March 31, 1996                                                      F-6
 
              Consolidated Statement of Cash Flows for the fiscal years ended April 25, 1998, April 26, 1997
              and March 31, 1996                                                                                     F-7
 
              Notes to Consolidated Financial Statements                                                             F-9
 
              Financial Statement Schedules:                                                                        F-25
 
                Schedule II--Valuation and Qualifying Accounts and Reserves
 
                All other schedules are omitted because they are not applicable.
 
  AZTEC TECHNOLOGY PARTNERS, INC. PRO FORMA COMBINED FINANCIAL STATEMENTS (UNAUDITED)
 
              Introduction to Pro Forma Financial Information (unaudited)                                           F-26
 
              Pro Forma Combined Balance Sheet as of April 25, 1998 (unaudited)                                     F-27
 
              Pro Forma Combined Statement of Income for the fiscal year ended
              April 25, 1998 (unaudited)                                                                            F-28
 
              Notes to Pro Forma Combined Financial Statements (unaudited)                                          F-29
</TABLE>
 
                                      F-1
<PAGE>
                       REPORT OF INDEPENDENT ACCOUNTANTS
 
To the Board of Directors and Stockholder
of Aztec Technology Partners, Inc.
 
In our opinion, based upon our audits and the report of other auditors, the
consolidated financial statements listed in the accompanying index present
fairly, in all material respects, the financial position of Aztec Technology
Partners, Inc. ("Aztec") and its subsidiaries at April 25, 1998 and April 26,
1997, and the results of their operations and their cash flows for the fiscal
years ended April 25, 1998, April 26, 1997 and March 31, 1996, in conformity
with generally accepted accounting principles. These financial statements are
the responsibility of Aztec's management; our responsibility is to express an
opinion on these financial statements based on our audits. We did not audit the
financial statements of Fortran Corp., a wholly-owned subsidiary, which
statements reflect total revenues of $20,775,000 for the fiscal year ended March
31, 1996. Those statements were audited by other auditors whose report thereon
has been furnished to us, and our opinion expressed herein, insofar as it
relates to the amounts included for Fortran Corp., is based solely on the report
of the other auditors. We conducted our audits of these statements in accordance
with generally accepted auditing standards which require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation.
We believe that our audits and the report of other auditors provide a reasonable
basis for the opinion expressed above.
 
PricewaterhouseCoopers LLP
 
Boston, Massachusetts
June 30, 1998
 
                                      F-2
<PAGE>
                         REPORT OF INDEPENDENT AUDITORS
 
To the Stockholders and Board of Directors
Fortran Corp.
Newington, Virginia
 
    We have audited the accompanying balance sheet of Fortran Corp. as of March
31, 1996, and 1995 and the related statements of earnings, changes in
stockholders' equity, and cash flows for the year ended March 31, 1996 (not
presented separately herein). These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
 
    We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
 
    In our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of Fortran Corp. as of March
31, 1996, and 1995 and the results of its operations and its cash flows for the
year ended March 31, 1996 in conformity with generally accepted accounting
principles.
 
    As described in Note 9 to the financial statements, on August 21, 1996, the
Company entered into a letter of intent to exchange all of its issued and
outstanding shares of common stock for shares of U.S. Office Products Company
common stock.
 
RUBIN, KOEHMSTEDT AND NADLER
 
Springfield, Virginia
 
June 7, 1996, except for Note 9,
as to which the date is
October 24, 1996
 
                                      F-3
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                           CONSOLIDATED BALANCE SHEET
 
                                 (IN THOUSANDS)
 
<TABLE>
<CAPTION>
                                                                                             APRIL 25,   APRIL 26,
                                                                                                1998       1997
                                                                                             ----------  ---------
<S>                                                                                          <C>         <C>
                                                      ASSETS
Current assets:
  Cash and cash equivalents................................................................  $    1,976  $   1,106
  Accounts receivable, less allowance for doubtful accounts of $1,626 and $351,
    respectively...........................................................................      48,924     22,342
  Inventories..............................................................................       9,443      3,904
  Receivable from U.S. Office Products.....................................................                  1,216
  Unbilled percentage of completion revenues...............................................       4,557      2,871
  Prepaid expenses and other current assets................................................       6,184      1,704
                                                                                             ----------  ---------
    Total current assets...................................................................      71,084     33,143
 
Property and equipment, net................................................................       5,957      2,163
Goodwill, net..............................................................................      63,828
Other assets...............................................................................         576      2,005
                                                                                             ----------  ---------
    Total assets...........................................................................  $  141,445  $  37,311
                                                                                             ----------  ---------
                                                                                             ----------  ---------
 
                                       LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
  Current maturities of long-term debt.....................................................  $      303  $      76
  Payable to U.S. Office Products..........................................................       4,388
  Accounts payable.........................................................................      16,380     11,803
  Accrued compensation.....................................................................       4,692      1,651
  Deferred revenue.........................................................................       4,843      2,499
  Accrued subchapter S corporation distributions...........................................                  1,320
  Other accrued liabilities................................................................       4,186      2,526
                                                                                             ----------  ---------
    Total current liabilities..............................................................      34,792     19,875
 
Long-term debt.............................................................................         309        167
Long-term payable to U.S. Office Products..................................................                  4,786
Deferred income taxes......................................................................       1,025        857
                                                                                             ----------  ---------
    Total liabilities......................................................................      36,126     25,685
                                                                                             ----------  ---------
 
Commitments and contingencies--Note 10
 
Stockholder's equity:
  Divisional equity........................................................................      96,116      8,897
  Retained earnings........................................................................       9,203      2,729
                                                                                             ----------  ---------
    Total stockholder's equity.............................................................     105,319     11,626
                                                                                             ----------  ---------
    Total liabilities and stockholder's equity.............................................  $  141,445  $  37,311
                                                                                             ----------  ---------
                                                                                             ----------  ---------
</TABLE>
 
          See accompanying notes to consolidated financial statements.
 
                                      F-4
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                        CONSOLIDATED STATEMENT OF INCOME
 
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
 
<TABLE>
<CAPTION>
                                                                                     FOR THE FISCAL YEAR ENDED
                                                                                 ----------------------------------
<S>                                                                              <C>         <C>        <C>
                                                                                 APRIL 25,   APRIL 26,   MARCH 31,
                                                                                    1998       1997        1996
                                                                                 ----------  ---------  -----------
Revenues:
  Products.....................................................................  $  116,998  $  97,253   $  78,948
  Services.....................................................................      91,343     39,025      35,107
                                                                                 ----------  ---------  -----------
    Total revenues.............................................................     208,341    136,278     114,055
                                                                                 ----------  ---------  -----------
 
Cost of revenues:
  Products.....................................................................     100,137     85,506      66,984
  Services.....................................................................      58,180     16,623      17,129
                                                                                 ----------  ---------  -----------
    Total cost of revenues.....................................................     158,317    102,129      84,113
                                                                                 ----------  ---------  -----------
    Gross profit...............................................................      50,024     34,149      29,942
 
Selling, general and administrative expenses...................................      35,185     21,525      20,510
Goodwill amortization expense..................................................         840
Strategic restructuring costs..................................................       1,750
Non-recurring acquisition costs................................................                  2,274
                                                                                 ----------  ---------  -----------
    Operating income...........................................................      12,249     10,350       9,432
 
Other (income) expense:
  Interest expense.............................................................         807        324         420
  Interest income..............................................................        (785)      (168)       (416)
  Other........................................................................         (44)       (53)       (964)
                                                                                 ----------  ---------  -----------
Income before provision for income taxes.......................................      12,271     10,247      10,392
Provision for income taxes.....................................................       5,797      3,524         750
                                                                                 ----------  ---------  -----------
Net income.....................................................................  $    6,474  $   6,723   $   9,642
                                                                                 ----------  ---------  -----------
                                                                                 ----------  ---------  -----------
 
Weighted-average shares outstanding:
  Basic........................................................................      23,911     18,005      13,509
  Diluted......................................................................      24,385     18,352      13,675
Per share amounts:
  Basic........................................................................  $     0.27  $    0.37   $    0.71
                                                                                 ----------  ---------  -----------
                                                                                 ----------  ---------  -----------
  Diluted......................................................................  $     0.27  $    0.37   $    0.71
                                                                                 ----------  ---------  -----------
                                                                                 ----------  ---------  -----------
</TABLE>
 
          See accompanying notes to consolidated financial statements.
 
                                      F-5
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                 CONSOLIDATED STATEMENT OF STOCKHOLDER'S EQUITY
 
                                 (IN THOUSANDS)
 
<TABLE>
<CAPTION>
                                                                                                          TOTAL
                                                                              DIVISIONAL   RETAINED   STOCKHOLDER'S
                                                                                EQUITY     EARNINGS      EQUITY
                                                                              -----------  ---------  -------------
<S>                                                                           <C>          <C>        <C>
Balance at March 31, 1995...................................................   $     148   $  10,914   $    11,062
  Cash dividends at pooled companies........................................                  (7,389)       (7,389)
  Adjustments to conform the fiscal year-ends of pooled companies...........                  (2,818)       (2,818)
  Net income................................................................                   9,642         9,642
                                                                              -----------  ---------  -------------
 
Balance at April 30, 1996...................................................         148      10,349        10,497
  Transactions of pooled companies:
    Undistributed earnings of subchapter S corporations.....................       8,749      (8,749)
    Cash dividends declared and paid........................................                  (5,594)       (5,594)
  Net income................................................................                   6,723         6,723
                                                                              -----------  ---------  -------------
 
Balance at April 26, 1997...................................................       8,897       2,729        11,626
  Issuance of U.S. Office Products common stock in conjunction with
    acquisitions............................................................      71,921                    71,921
  Capital contribution by U.S. Office Products..............................      15,298                    15,298
  Net income................................................................                   6,474         6,474
                                                                              -----------  ---------  -------------
Balance at April 25, 1998...................................................   $  96,116   $   9,203   $   105,319
                                                                              -----------  ---------  -------------
                                                                              -----------  ---------  -------------
</TABLE>
 
          See accompanying notes to consolidated financial statements.
 
                                      F-6
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
 
                                 (IN THOUSANDS)
 
<TABLE>
<CAPTION>
                                                                                     FOR THE FISCAL YEAR ENDED
                                                                                 ----------------------------------
                                                                                 APRIL 25,   APRIL 26,   MARCH 31,
                                                                                    1998       1997        1996
                                                                                 ----------  ---------  -----------
<S>                                                                              <C>         <C>        <C>
Cash flows from operating activities:
  Net income...................................................................  $    6,474  $   6,723   $   9,642
  Adjustments to reconcile net income to net cash provided by (used in)
    operating activities:
    Depreciation and amortization expense......................................       1,992        541         494
    Non-recurring acquisition costs............................................                  2,274
    Gain on sale of division at pooled company.................................                               (761)
    Deferred income taxes......................................................         123        645         (66)
    Changes in current assets and liabilities (net of assets acquired and
      liabilities assumed in business combinations accounted for under the
      purchase method):
      Accounts receivable......................................................     (10,125)    (2,376)     (5,441)
      Inventories..............................................................         964        547         595
      Prepaid expenses and other current assets................................          (7)    (3,120)       (585)
      Accounts payable.........................................................      (4,074)       997        (475)
      Accrued liabilities......................................................      (2,230)        20         867
                                                                                 ----------  ---------  -----------
        Net cash provided by (used in) operating activities....................      (6,883)     6,251       4,270
                                                                                 ----------  ---------  -----------
Cash flows from investing activities:
  Additions to property and equipment, net of disposals........................      (2,599)      (949)       (552)
  Payments of non-recurring acquisition costs..................................        (460)    (1,814)
  Cash received in acquisitions................................................         182
  Deposits.....................................................................                 (1,312)       (421)
  Cash received in sale of division at pooled company..........................                              1,275
  Other........................................................................                    161           4
                                                                                 ----------  ---------  -----------
        Net cash provided by (used in) investing activities....................      (2,877)    (3,914)        306
                                                                                 ----------  ---------  -----------
Cash flows from financing activities:
  Proceeds from (payments of) short-term debt, net.............................      (2,332)    (5,504)      3,683
  Proceeds from issuance of long-term debt.....................................                    305       1,196
  Payments of long-term debt...................................................      (1,834)      (937)       (698)
  Payments of dividends at pooled companies....................................      (1,320)    (4,274)     (7,389)
  Advances from (payments to) U.S. Office Products.............................         818      3,570
  Capital contribution by U.S. Office Products.................................      15,298
  Net change in cash due to conforming fiscal year-ends of certain pooled
    companies..................................................................                                176
                                                                                 ----------  ---------  -----------
        Net cash provided by (used in) financing activities....................      10,630     (6,840)     (3,032)
                                                                                 ----------  ---------  -----------
 
Net increase (decrease) in cash and cash equivalents...........................         870     (4,503)      1,544
Cash and cash equivalents at beginning of period...............................       1,106      5,609       4,065
                                                                                 ----------  ---------  -----------
Cash and cash equivalents at end of period.....................................  $    1,976  $   1,106   $   5,609
                                                                                 ----------  ---------  -----------
                                                                                 ----------  ---------  -----------
</TABLE>
 
                                      F-7
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                      CONSOLIDATED STATEMENT OF CASH FLOWS
 
                                 (IN THOUSANDS)
 
<TABLE>
<CAPTION>
                                                                                       FOR THE FISCAL YEAR ENDED
                                                                                   ---------------------------------
<S>                                                                                <C>        <C>        <C>
                                                                                   APRIL 25,  APRIL 26,   MARCH 31,
                                                                                     1998       1997        1996
                                                                                   ---------  ---------  -----------
Supplemental disclosures of cash flow information:
  Interest paid..................................................................  $     759  $     282   $     526
  Income taxes paid..............................................................  $   9,305  $   2,460   $     452
</TABLE>
 
    The Company issued common stock in connection with certain business
combinations during the fiscal year ended April 25, 1998. The fair values of the
assets and liabilities of the acquired companies at the dates of the
acquisitions are presented as follows:
 
<TABLE>
<CAPTION>
                                                                                                          FOR THE
                                                                                                        FISCAL YEAR
                                                                                                           ENDED
                                                                                                         APRIL 25,
                                                                                                           1998
                                                                                                        -----------
<S>                                                                                                     <C>
Accounts receivable...................................................................................   $  16,457
Inventories...........................................................................................       6,503
Prepaid expenses and other current assets.............................................................       2,608
Property and equipment................................................................................       2,347
Goodwill..............................................................................................      64,668
Other assets..........................................................................................         174
Short-term debt.......................................................................................      (2,332)
Accounts payable......................................................................................      (8,651)
Accrued liabilities...................................................................................      (7,832)
Long-term debt........................................................................................      (2,203)
                                                                                                        -----------
  Net assets acquired.................................................................................   $  71,739
                                                                                                        -----------
                                                                                                        -----------
 
The acquisitions were funded as follows:
  Common stock........................................................................................   $  71,921
  Cash received.......................................................................................        (182)
                                                                                                        -----------
    Total.............................................................................................   $  71,739
                                                                                                        -----------
                                                                                                        -----------
</TABLE>
 
          See accompanying notes to consolidated financial statements.
 
                                      F-8
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 1--BACKGROUND
 
    Aztec Technology Partners, Inc. (the "Company") is a Delaware Corporation
which was a wholly-owned subsidiary of U.S. Office Products Company ("U.S.
Office Products") at April 25, 1998. On June 9, 1998, as part of its
comprehensive restructuring plan, U.S. Office Products spun-off its Technology
Solutions division as an independent publicly owned company. This transaction
was effected through the distribution of shares of the Company to U.S. Office
Products shareholders (the "Distribution"). Prior to the Distribution, U.S.
Office Products contributed its equity interests in certain wholly-owned
subsidiaries associated with U.S. Office Products' Technology Solutions division
to the Company. U.S. Office Products and the Company also entered into a number
of agreements to facilitate the Distribution and the transition of the Company
to an independent business enterprise (see Note 10). At the date of the
Distribution, U.S. Office Products allocated $5,000 in debt to the Company. The
debt payable to U.S. Office Products was repaid upon the completion of the
Distribution.
 
    The Technology Solutions division was created by U.S. Office Products in
October 1996 and completed five business combinations accounted for under the
pooling-of-interests method during the period from October 1996 to April 1997
(the "Pooled Companies"). As a result of these business combinations being
accounted for under the pooling-of-interests method, the results of the Company
prior to the completion of such business combinations represent the combined
results of the Pooled Companies operating as separate autonomous entities. The
Company made five acquisitions accounted for under the purchase method during
the period from September 1997 to October 1997 (the "Purchased Companies"). The
results of these acquisitions have been included in the Company's results from
their respective dates of acquisition.
 
    The Company is a provider of a broad range of information technology
business solutions principally to corporate customers. The Company provides this
broad range of services in the Northeast region of the United States and certain
of these services in other regions of the United States.
 
NOTE 2--BASIS OF PRESENTATION
 
    The consolidated financial statements reflect the assets, liabilities,
divisional equity, revenues and expenses that were directly related to the
Company as it was operated within U.S. Office Products. In cases involving
assets and liabilities not specifically identifiable to any particular business
of U.S. Office Products, only those assets and liabilities expected to be
transferred to the Company prior to the Distribution were included in the
Company's separate consolidated balance sheet. The Company's statement of income
includes all of the related costs of doing business including an allocation of
certain general corporate expenses of U.S. Office Products which were not
directly related to these businesses including certain corporate executives'
salaries, accounting and legal fees, departmental costs for accounting, finance,
legal, purchasing, marketing, human resources as well as other general overhead
costs. These allocations were based on a variety of factors, dependent upon the
nature of the costs being allocated, including revenues, number and size of
acquisitions and number of employees. Management believes these allocations were
made on a reasonable basis.
 
    U.S. Office Products uses a centralized approach to cash management and the
financing of its operations. As a result, minimal amounts of cash and cash
equivalents and an agreed upon amount of debt were allocated to the Company at
the time of the Distribution. The consolidated statement of income includes an
allocation of interest expense on all debt allocated to the Company. See Note 7
for further discussion of interest expense.
 
                                      F-9
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 3--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
USE OF ESTIMATES
 
    The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and the
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates.
 
CHANGE IN FISCAL YEAR
 
    Prior to their respective dates of acquisition by U.S. Office Products, the
Pooled Companies reported results on years ending on March 31 and December 31.
Upon acquisition by U.S. Office Products and effective for the fiscal year ended
April 26, 1997, the Pooled Companies changed their year-ends from March 31 and
December 31 to conform to U.S. Office Products' fiscal year, which ends on the
last Saturday in April.
 
    On June 30, 1998, the Board of Directors of the Company voted to change the
Company's fiscal year end from the last Saturday in April, to December 31. The
Company will file a transition report on Form 10-K covering the period April 26,
1998 to December 31, 1998.
 
DEFINITION OF FISCAL YEAR
 
    As used in these consolidated financial statements and related notes to
consolidated financial statements, "fiscal 1998", "fiscal 1997" and "fiscal
1996" refer to the Company's fiscal years ended April 25, 1998, April 26, 1997
and March 31, 1996, respectively.
 
PRINCIPLES OF CONSOLIDATION
 
    The consolidated financial statements include the accounts of the Company
and its wholly-owned subsidiaries. All significant intercompany transactions and
accounts are eliminated in consolidation.
 
CASH AND CASH EQUIVALENTS
 
    The Company considers debt securities with maturities of three months or
less from the date of purchase to be cash equivalents.
 
CONCENTRATION OF CREDIT RISK
 
    Financial instruments which potentially subject the Company to
concentrations of credit risk consist primarily of trade accounts receivable.
Receivables arising from sales to customers are not collateralized and, as a
result, management continually monitors the financial condition of its customers
to reduce the risk of loss.
 
INVENTORIES
 
    Inventories are stated at the lower of cost or market with cost determined
on a first-in, first-out (FIFO) basis and consist primarily of products held for
sale.
 
                                      F-10
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 3--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
PROPERTY AND EQUIPMENT
 
    Property and equipment are stated at cost. Additions and improvements are
capitalized. Maintenance and repairs are expensed as incurred. Depreciation of
property and equipment is calculated using the straight-line method over the
estimated useful lives of the respective assets. The estimated useful lives
range from 25 to 40 years for buildings and its components and 3 to 15 years for
furniture, fixtures and equipment. Property and equipment leased under capital
leases is being amortized over the lesser of its useful life or its lease terms.
 
GOODWILL
 
    Goodwill represents the excess of cost over the fair value of net assets
acquired in business combinations accounted for under the purchase method.
Substantially all goodwill is amortized on a straight line basis over estimated
useful lives of 25-40 years. Management periodically evaluates the
recoverability of goodwill, which would be adjusted for a permanent decline in
value, if any, by comparing anticipated undiscounted future cash flows from
operations to the carrying value of the goodwill.
 
FAIR VALUE OF FINANCIAL INSTRUMENTS
 
    The carrying amounts of the Company's financial instruments including cash
and cash equivalents, accounts receivable, accounts payable and debt approximate
fair value.
 
INCOME TAXES
 
    As a division of U.S. Office Products, the Company does not file separate
federal income tax returns but rather is included in the federal income tax
returns filed by U.S. Office Products and its subsidiaries from the respective
dates that the entities within the Company were acquired by U.S. Office
Products. For purposes of the consolidated financial statements, the Company's
allocated share of U.S. Office Products' income tax provision was based on the
"separate return" method. Certain companies acquired in pooling-of-interests
transactions elected to be taxed as Subchapter S corporations, and accordingly,
no federal income taxes were recorded by those companies for periods prior to
their acquisition by U.S. Office Products.
 
REVENUE RECOGNITION
 
    Revenue from hardware and packaged software sales is recognized upon
shipment provided there are no uncertainties regarding customer acceptance and
collectibility of related receivable is considered probable.
 
    Revenues related to fixed-price contracts are recognized using the
percentage-of-completion method, measured by the percentage of cost incurred to
date to the estimated total cost at completion. This method is used because
management considers accumulated costs to be the best available measure of
progress on these contracts. The cumulative impact of any revision in estimates
of the percent complete is reflected in the period in which the changes become
known. Losses on projects in progress are recognized when known. Revenues
related to fixed-price contracts which include both product and service
components are recorded as service revenues.
 
                                      F-11
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 3--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
    Service revenues from consulting, installation and maintenance is recognized
ratably over the contract period or as the service is provided.
 
    Revenue from software development contracts is recognized as work is
performed on a "time and materials" basis.
 
    Payments received by the Company in advance of product delivery or
performance of services are deferred until earned.
 
    The American Institute of Certified Public Accountants has approved a new
Statement of Position ("SOP"), SOP 97-2, "Software Revenue Recognition" which
will supersede SOP 91-1. Management has assessed this new SOP and believes that
its adoption will not have a material effect on the timing of the Company's
revenue recognition or cause changes to its revenue recognition policies.
 
ADVERTISING COSTS
 
    The Company expenses advertising costs when the advertisement occurs.
Advertising costs are included in the consolidated statement of income as a
component of selling, general and administrative expenses. Advertising expense
for fiscal years 1998, 1997 and 1996 was $1,666, $661 and $480, respectively.
The Company also earns co-op funds from certain vendors which can be used for
advertising, trade shows and telemarketing campaigns. These funds are included
in the consolidated statement of income as a credit to the corresponding
selling, general and administrative expense. Co-op funds for fiscal years 1998,
1997 and 1996 were $(1,812), $(1,453) and $(789), respectively.
 
RESEARCH AND DEVELOPMENT COSTS
 
    Research and development costs are charged to operations in the period
incurred. Research and development costs are included in the consolidated
statement of income as a component of selling, general and administrative
expenses.
 
STRATEGIC RESTRUCTURING COSTS
 
    Strategic restructuring costs represent the Company's portion of the costs
incurred by U.S. Office Products as a result of U.S. Office Products' recently
completed comprehensive restructuring plan including costs incurred related to
the Company's withdrawn initial public offering (see Note 1).
 
NON-RECURRING ACQUISITION COSTS
 
    Non-recurring acquisition costs represent acquisition costs incurred by the
Company in business combinations accounted for under the pooling-of-interests
method. These costs include accounting, legal, and investment banking fees, real
estate and environmental assessments and appraisals, various regulatory fees and
recognition of transaction related obligations. Generally accepted accounting
principles require the Company to expense all acquisition costs (both those paid
by the Company and those paid by the sellers of the acquired companies) related
to business combinations accounted for under the pooling-of-interests method.
 
                                      F-12
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 3--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
NET INCOME PER SHARE
 
    Net income per share is calculated in accordance with the Statement of
Financial Accounting Standards ("SFAS") No. 128, "Earnings Per Share," which
establishes standards for computing and presenting earnings per share ("EPS").
SFAS No. 128 requires dual presentation of basic and diluted EPS on the face of
the income statement. Basic EPS excludes dilution and is computed by dividing
income available to common shareholders by the weighted-average number of shares
outstanding for the period. Diluted EPS reflects the potential dilution that
could occur if securities or other contracts to issue common stock were
exercised or converted into common stock. The difference between the
weighted-average number of shares of common shares used for the diluted EPS is
comprised of the dilutive effect of outstanding common stock options. However, a
portion of the Company's employee stock options outstanding during the periods
presented were not included in the computation of diluted EPS as they were
anti-dilutive.
 
RECLASSIFICATIONS
 
    Certain reclassifications have been made to prior year balances to conform
to the current year presentation. The reclassifications have no effect on prior
year operating results.
 
NEW ACCOUNTING PRONOUNCEMENTS
 
    In June 1997, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 130, "Reporting Comprehensive Income." SFAS No. 130 establishes standards
for the reporting and display of comprehensive income and its components
(revenues, expenses, gains and losses) in a full set of general purpose
financial statements. SFAS No. 130 requires that all items required to be
recognized under accounting standards as components of comprehensive income be
reported in a financial statement that is displayed with the same prominence as
other financial statements. SFAS No. 130 is effective for fiscal years beginning
after December 15, 1997. Reclassification of financial statements for earlier
periods provided for comparative purposes is required. The Company intends to
adopt SFAS No. 130 in the period ended December 31, 1998. Implementation of this
disclosure standard will not affect the Company's financial position or results
of operations.
 
    In June 1997, the FASB issued SFAS No. 131, "Disclosures about Segments of
an Enterprise and Related Information." SFAS No. 131 establishes standards for
reporting information about operating segments in annual and interim financial
statements. Operating segments are determined consistent with the way management
organizes and evaluates financial information internally for making decisions
and assessing performance. It also requires related disclosures about products,
geographic areas, and major customers. SFAS 131 is effective for fiscal years
beginning after December 15, 1997. The Company intends to adopt SFAS No. 131 in
the period ended December 31, 1998. Implementation of this disclosure standard
will not affect the Company's financial position or results of operations.
 
DISTRIBUTION RATIO
 
    On May 14, 1998, the U.S. Office Products Board of Directors approved the
distribution ratio for the Company in connection with the Distribution. At the
date of Distribution, the Company issued to U.S. Office Products shareholders
one share of its common stock for every five shares of U.S. Office Products
 
                                      F-13
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 3--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
common stock held by each respective shareholder. The share data reflected in
the accompanying financial statements represents the historical share data for
U.S. Office Products for the period or as of the date indicated, and has been
retroactively adjusted to give effect to the one for five distribution ratio.
 
NOTE 4--BUSINESS COMBINATIONS
 
POOLING-OF-INTERESTS METHOD
 
    In fiscal 1997, the Company issued 955,151 shares of common stock to acquire
the Pooled Companies.
 
    The Pooled Companies and the number of shares issued are as follows:
 
<TABLE>
<CAPTION>
                                                                                   NUMBER OF
COMPANY NAME                                                                     SHARES ISSUED
-------------------------------------------------------------------------------  -------------
<S>                                                                              <C>
Bay State Computer Group.......................................................       181,315
Digital Network Associates, Inc................................................       152,389
Fortran Corp...................................................................       330,000
Office Equipment Service, Inc..................................................       132,331
Professional Computer Solutions, Inc...........................................       159,116
                                                                                 -------------
      Total shares issued......................................................       955,151
                                                                                 -------------
                                                                                 -------------
</TABLE>
 
    The Company's consolidated financial statements give retroactive effect to
the acquisitions of the Pooled Companies for all periods presented. All of the
Pooled Companies previously reported on fiscal years ending other than April 26,
1997. Upon completion of the acquisitions of the Pooled Companies, their
year-ends were changed to U.S. Office Products' year-end of the last Saturday in
April.
 
    Commencing on May 1, 1996, the year-ends of the Pooled Companies were
changed to April 26, 1997, resulting in an adjustment to retained earnings of
$(2,818) during the fiscal year ended April 30, 1996. This adjustment consisted
of revenues, costs and expenses, and dividends of $17,294, $15,026 and $5,086,
respectively, during the period of time between the Pooled Companies most
recently completed year-end and April 30, 1996.
 
    The following presents the separate results, in each of the periods
presented, of the Company (excluding the results of Pooled Companies prior to
the dates on which they were acquired), and the Pooled Companies up to the dates
on which they were acquired:
 
<TABLE>
<CAPTION>
                                                            AZTEC
                                                          TECHNOLOGY
                                                          PARTNERS,      POOLED
                                                             INC.       COMPANIES    COMBINED
                                                         ------------  -----------  ----------
<S>                                                      <C>           <C>          <C>
Fiscal 1997:
  Revenues.............................................   $   57,656    $  78,622   $  136,278
  Net Income...........................................   $    2,109    $   4,614   $    6,723
 
Fiscal 1996:
  Revenues.............................................   $             $ 114,055   $  114,055
  Net Income...........................................   $             $   9,642   $    9,642
</TABLE>
 
                                      F-14
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 4--BUSINESS COMBINATIONS (CONTINUED)
PURCHASE METHOD
 
    During fiscal 1998, the Company made five acquisitions accounted for under
the purchase method for an aggregate purchase price of $71,739, consisting of
651,021 shares of common stock with a market value of $71,921 and a net of $182
of cash acquired. The total assets related to these acquisitions were $92,757,
including intangible assets of $64,668. The results of these acquisitions have
been included in the Company's results from their respective dates of
acquisition.
 
    The following presents the unaudited pro forma financial data of the Company
for fiscal 1998 and fiscal 1997 and includes the Company's consolidated
financial statements and the results of the Purchased Companies as if all such
purchase acquisitions had been made at the beginning of each year presented. The
results presented below include certain pro forma adjustments to reflect the
amortization of intangible assets and adjustments in executive compensation:
 
<TABLE>
<CAPTION>
                                                                        UNAUDITED    UNAUDITED
                                                                       FISCAL 1998  FISCAL 1997
                                                                       -----------  -----------
<S>                                                                    <C>          <C>
Revenues.............................................................   $ 256,903    $ 228,912
Net income...........................................................      10,081        9,454
Per Share amounts:
  Basic..............................................................        0.46         0.43
  Diluted............................................................        0.46         0.43
</TABLE>
 
    The unaudited pro forma financial data are prepared for comparative purposes
only and do not necessarily reflect the results that would have occurred had the
acquisitions occurred at the beginning of each year presented or the results
which may occur in the future.
 
NOTE 5--PROPERTY AND EQUIPMENT
 
    Property and equipment consists of the following:
 
<TABLE>
<CAPTION>
                                                                           APRIL 25,  APRIL 26,
                                                                             1998       1997
                                                                           ---------  ---------
<S>                                                                        <C>        <C>
Land.....................................................................  $     143  $     143
Buildings................................................................        374        374
Furniture and fixtures...................................................      6,740      3,184
Warehouse equipment......................................................        669        272
Equipment under capital leases...........................................        774        252
Leasehold improvements...................................................        467        155
                                                                           ---------  ---------
                                                                               9,167      4,380
Less: Accumulated depreciation...........................................     (3,210)    (2,217)
                                                                           ---------  ---------
Net property and equipment...............................................  $   5,957  $   2,163
                                                                           ---------  ---------
                                                                           ---------  ---------
</TABLE>
 
    Depreciation expense for fiscal years 1998, 1997 and 1996 was $1,152, $541
and $494, respectively.
 
                                      F-15
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 6--GOODWILL
 
    Goodwill consists of the following:
 
<TABLE>
<CAPTION>
                                                                                     APRIL 25,
                                                                                       1998
                                                                                     ---------
<S>                                                                       <C>        <C>
Goodwill................................................................             $  64,668
Less: Accumulated amortization..........................................                  (840)
                                                                                     ---------
  Net goodwill..........................................................             $  63,828
                                                                                     ---------
                                                                                     ---------
</TABLE>
 
    Amortization expense for fiscal 1998 was $840.
 
NOTE 7--CREDIT FACILITIES
 
LONG-TERM DEBT
 
    Long-term debt consists of the following:
 
<TABLE>
<CAPTION>
                                                                           APRIL 25,   APRIL 26,
                                                                             1998        1997
                                                                           ---------  -----------
<S>                                                                        <C>        <C>
Notes payable, secured by certain assets of the Company, interest rates
  ranging from 7.8% to 8.4%..............................................  $     180   $     111
Capital lease obligations................................................        432         132
                                                                           ---------       -----
                                                                                 612         243
Less: Current maturities of long-term debt...............................       (303)        (76)
                                                                           ---------       -----
  Total long-term debt...................................................  $     309   $     167
                                                                           ---------       -----
                                                                           ---------       -----
</TABLE>
 
MATURITIES OF LONG-TERM DEBT
 
    Maturities on long-term debt, including capital lease obligations, are as
follows:
 
<TABLE>
<S>                                                                  <C>
1999...............................................................   $     303
2000...............................................................         212
2001...............................................................          85
2002...............................................................          12
                                                                          -----
  Total maturities of long-term debt...............................   $     612
                                                                          -----
                                                                          -----
</TABLE>
 
                                      F-16
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 7--CREDIT FACILITIES (CONTINUED)
PAYABLE TO U.S. OFFICE PRODUCTS
 
    The long-term payable to U.S. Office Products primarily represents payments
made by U.S. Office Products on behalf of the Company and a reasonable
allocation by U.S. Office Products of certain general corporate expenses. An
analysis of the activity in this account is as follows:
 
<TABLE>
<S>                                                                 <C>
Balance at April 30, 1996.........................................  $
  Payments of long-term debt of Pooled Companies upon
    acquisition...................................................      1,710
  Payments of acquisition costs...................................      1,362
  Allocated corporate expenses....................................        388
  Operating costs paid by U.S. Office Products                          1,326
                                                                    ---------
Balance at April 26, 1997.........................................      4,786
  Payments of long-term debt of Purchased Companies upon
    acquisition...................................................      1,159
  Payments of acquisition costs...................................      2,501
  Allocated corporate expenses....................................      1,758
  Operating costs paid by U.S. Office Products....................      2,009
  Income taxes paid by U.S. Office Products.......................      7,473
  Capital contribution by U.S. Office Products....................    (15,298)
                                                                    ---------
Balance at April 25, 1998.........................................      4,388
                                                                    ---------
                                                                    ---------
</TABLE>
 
    Interest has been allocated to the Company based upon the Company's average
outstanding payable balance with U.S. Office Products at U.S. Office Products'
weighted average interest rate during such period.
 
    The receivable from U.S. Office Products was generated by the Company
primarily as a result of U.S. Office Products sweeping the Company's excess cash
through the centralized cash management system, which involves daily advances or
sweeps of cash to keep the cash balance at or near zero on a daily basis. The
Company has earned interest based upon the average outstanding receivable from
U.S. Office Products at the weighted average interest rate of U.S. Office
Products in effect during the periods.
 
    The Company's financial statements include allocations of net interest
expense from U.S. Office Products totaling $8 and $130 for fiscal years 1998 and
1997, respectively.
 
    The Distribution Agreement allocated $5,000 of U.S. Office Products' debt
outstanding under its credit facilities to the Company and required the Company,
prior to the Distribution, to obtain credit facilities, to borrow funds under
such facilities and to use the proceeds of such borrowings to pay off the U.S.
Office Products' debt so allocated. Prior to the Distribution, the Company
entered into the credit facility and at the time of the Distribution borrowed
$5,000 under the facility to pay off debt of U.S. Office Products (see Note 15).
 
                                      F-17
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 8--INCOME TAXES
 
    The provision for income taxes consists of the following:
 
<TABLE>
<CAPTION>
                                                                    FOR THE FISCAL YEAR ENDED
                                                               -----------------------------------
                                                               APRIL 25,   APRIL 26,    MARCH 31,
                                                                 1998        1997         1996
                                                               ---------  -----------  -----------
<S>                                                            <C>        <C>          <C>
Income taxes currently payable:
  Federal....................................................  $   4,484   $   2,102    $     485
  State......................................................      1,190         777          331
                                                               ---------  -----------  -----------
                                                                   5,674       2,879          816
                                                               ---------  -----------  -----------
Deferred income tax expense (benefit)........................        123         645          (66)
                                                               ---------  -----------  -----------
    Total provision for income taxes.........................  $   5,797   $   3,524    $     750
                                                               ---------  -----------  -----------
                                                               ---------  -----------  -----------
</TABLE>
 
    Deferred taxes are comprised of the following:
 
<TABLE>
<CAPTION>
                                                                           APRIL 25,    APRIL 26,
                                                                             1998         1997
                                                                          -----------  -----------
<S>                                                            <C>        <C>          <C>
Current deferred tax assets:
  Inventory..................................................              $     400    $     105
  Allowance for doubtful accounts............................                    650           49
  Accrued liabilities........................................                  1,176          124
                                                                          -----------  -----------
    Total current deferred tax assets........................                  2,226          278
                                                                          -----------  -----------
Long-term deferred tax liabilities:
  Property and equipment.....................................                     23           24
  Other......................................................                 (1,048)        (881)
                                                                          -----------  -----------
    Total long-term deferred tax liabilities.................                 (1,025)        (857)
                                                                          -----------  -----------
    Net deferred tax asset (liability).......................              $   1,201    $    (579)
                                                                          -----------  -----------
                                                                          -----------  -----------
</TABLE>
 
    The Company's effective income tax rate varied from the U.S. federal
statutory tax rate as follows:
 
<TABLE>
<CAPTION>
                                                                    FOR THE FISCAL YEAR ENDED
                                                               -----------------------------------
                                                               APRIL 25,   APRIL 26,    MARCH 31,
                                                                 1998        1997         1996
                                                               ---------  -----------  -----------
<S>                                                            <C>        <C>          <C>
U.S. federal statutory rate..................................       35.0%       35.0%        35.0%
State income taxes, net of federal income tax benefit........        6.4         5.9          3.0
Subchapter S corporation income not subject to corporate
  level taxation.............................................                  (20.8)       (30.8)
Nondeductible goodwill.......................................        2.4
Nondeductible acquisition costs..............................        2.8         7.8
Other........................................................        0.6         6.5
                                                               ---------  -----------  -----------
Effective income tax rate....................................       47.2%       34.4%         7.2%
                                                               ---------  -----------  -----------
                                                               ---------  -----------  -----------
</TABLE>
 
                                      F-18
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 8--INCOME TAXES (CONTINUED)
    Certain Pooled Companies were organized as subchapter S corporations prior
to the closing of their acquisitions by the Company and, as a result, the
federal tax on their income was the responsibility of their individual
stockholders. Accordingly, the specific Pooled Companies provided no federal
income tax expense prior to their acquisitions by the Company.
 
NOTE 9--LEASE COMMITMENTS
 
    The Company leases various types of warehouse and office facilities and
equipment, furniture and fixtures under noncancelable lease agreements which
expire at various dates. Future minimum lease payments under noncancelable
capital and operating leases are as follows:
 
<TABLE>
<CAPTION>
                                                                             CAPITAL     OPERATING
                                                                             LEASES       LEASES
                                                                           -----------  -----------
<S>                                                                        <C>          <C>
1999.....................................................................   $     246    $   1,295
2000.....................................................................         163        1,009
2001.....................................................................          77          656
2002.....................................................................          14          584
2003.....................................................................                      276
Thereafter...............................................................                       22
                                                                                -----   -----------
Total minimum lease payments.............................................         500    $   3,842
                                                                                        -----------
                                                                                        -----------
Less: Amounts representing interest......................................         (68)
                                                                                -----
Present value of net minimum lease payments..............................   $     432
                                                                                -----
                                                                                -----
</TABLE>
 
    Rent expense for all operating leases for fiscal years 1998, 1997 and 1996
was $999, $871 and $778, respectively.
 
NOTE 10--COMMITMENTS AND CONTINGENCIES
 
LITIGATION
 
    The Company is, from time to time, a party to litigation arising in the
normal course of its business. Management believes that none of this litigation
will have a material adverse effect on the financial position, results of
operations or cash flows of the Company.
 
POSTEMPLOYMENT BENEFITS
 
    The Company has entered into employment agreements with several employees
that would result in payments to these employees upon a change of control or
certain other events. No amounts have been accrued at April 25, 1998 or April
26, 1997 related to these agreements, as no change of control has occurred or is
probable.
 
DISTRIBUTION
 
    At the date of the distribution, the Company, U.S. Office Products and the
other Spin-Off Companies entered into the Distribution Agreement, the Tax
Allocation Agreement and the Employee Benefits
 
                                      F-19
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 10--COMMITMENTS AND CONTINGENCIES (CONTINUED)
Agreement, and the Spin-Off Companies entered into the Tax Indemnification
Agreement. These agreements provided, among other things, for U.S. Office
Products and the Company to indemnify each other from tax and other liabilities
relating to their respective businesses prior to and following the Distribution.
Certain of the obligations of the Company and the other spin-off companies to
indemnify U.S. Office Products are joint and several. Therefore, if one of the
other spin-off companies fails to indemnify U.S. Office Products when such a
loss occurs, the Company may be required to reimburse U.S. Office Products for
all or a portion of the losses that otherwise would have been allocated to other
spin-off companies. In addition, the agreements allocated liabilities, including
general corporate and securities liabilities of U.S. Office Products not
specifically related to the technology business, between U.S. Office Products
and each spin-off company.
 
NOTE 11--EMPLOYEE BENEFIT PLANS
 
    Effective September 1, 1996, the Company implemented the U.S. Office
Products 401(k) Retirement Plan (the "401(k) Plan") which allows employee
contributions in accordance with Section 401(k) of the Internal Revenue Code.
The Company matches a portion of employee contributions and all full-time
employees are eligible to participate in the 401(k) Plan after one year of
service. The Company adopted a 401(k) Retirement Plan at approximately the time
of the Distribution.
 
    Certain subsidiaries of the Company have, or had prior to implementation of
the 401(k) Plan, qualified defined contribution benefit plans, which allow for
voluntary pre-tax contributions by the employees. The subsidiaries paid all
general and administrative expenses of the plans and in some cases made matching
contributions on behalf of the employees. For fiscal years 1998, 1997 and 1996,
the subsidiaries incurred expenses totaling $429, $390 and $367, respectively,
related to these plans.
 
NOTE 12--STOCKHOLDER'S EQUITY
 
EARNINGS PER SHARE
 
    In February 1997, the FASB issued SFAS No. 128, "Earnings Per Share." SFAS
No. 128 establishes standards for computing and presenting earnings per share
("EPS"). SFAS No. 128 requires the dual presentation of basic and diluted EPS on
the face of the consolidated statement of income. Basic EPS excludes dilution
and is computed by dividing income available to common shareholders by the
weighted average number of common shares outstanding for the period. Diluted EPS
reflects the potential dilution that could occur if securities or other
contracts to issue common stock were exercised or converted into common stock.
The Company has adopted SFAS No. 128 during fiscal 1998 and has restated all
prior
 
                                      F-20
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 12--STOCKHOLDER'S EQUITY (CONTINUED)
period EPS data. The following information presents the Company's computations
of basic and diluted EPS from continuing operations for the periods presented in
the consolidated statement of income.
 
<TABLE>
<CAPTION>
                                                                              INCOME         SHARES
                                                                            (NUMERATOR)   (DENOMINATOR)   PER SHARE
                                                                           -------------  -------------  -----------
<S>                                                                        <C>            <C>            <C>
FISCAL 1998:
Basic EPS................................................................    $   6,474      23,911,206    $    0.27
                                                                                                              -----
                                                                                                              -----
Effect of dilutive employee stock options................................                      474,229
                                                                                ------    -------------
Diluted EPS..............................................................    $   6,474      24,385,435    $    0.27
                                                                                ------    -------------       -----
                                                                                ------    -------------       -----
 
FISCAL 1997:
Basic EPS................................................................    $   6,723      18,005,142    $    0.37
                                                                                                              -----
                                                                                                              -----
Effect of dilutive employee stock options................................                      347,012
                                                                                ------    -------------
Diluted EPS..............................................................    $   6,723      18,352,154    $    0.37
                                                                                ------    -------------       -----
                                                                                ------    -------------       -----
FISCAL 1996:
Basic EPS................................................................    $   9,642      13,508,937    $    0.71
                                                                                                              -----
                                                                                                              -----
Effect of dilutive employee stock options................................                      165,824
                                                                                ------    -------------
Diluted EPS..............................................................    $   9,642      13,674,761    $    0.71
                                                                                ------    -------------       -----
                                                                                ------    -------------       -----
</TABLE>
 
CAPITAL CONTRIBUTION BY U.S. OFFICE PRODUCTS
 
    During the fiscal year ended April 25, 1998, U.S. Office Products
contributed $15,298 of capital to the Company. The contribution reflects the
forgiveness of intercompany debt by U.S. Office Products, as it was agreed that
the Company would be allocated only $5,000 of debt upon the Distribution.
 
EMPLOYEE STOCK PLANS
 
    Prior to the Distribution, certain employees of the Company participated in
the U.S. Office Products 1994 Long-Term Incentive Plan covering employees of
U.S. Office Products. The Company adopted an employee stock option plan at
approximately the time of the Distribution. Upon the Distribution, the Company
replaced the options to purchase shares of common stock of U.S. Office Products
held by employees with options to purchase shares of common stock of the
Company.
 
    In order to keep the option holders in the same economic position
immediately before and after the Distribution, the number of U.S. Office
Products' options held by Company personnel was multiplied by 1.577 and the
exercise price of these options was divided by 1.577 for purposes of the
replacement options. The vesting provisions and option period of the original
grants were not changed. All option data reflected below has been retroactively
restated to reflect the effects of the Distribution.
 
    The Company accounts for options issued in accordance with APB Opinion No.
25. Accordingly, because the exercise prices of the options have equaled the
market price on the date of grant, no
 
                                      F-21
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 12--STOCKHOLDER'S EQUITY (CONTINUED)
compensation expense was recognized for the options granted. Had compensation
expense been recognized based upon the fair value of the stock options on the
grant date under the methodology prescribed by SFAS No. 123, "Accounting for
Stock-Based Compensation," the Company's net income and net income per share
would have been impacted as indicated in the following table.
 
<TABLE>
<CAPTION>
                                                                                       FOR THE FISCAL YEAR ENDED
                                                                                      ----------------------------
<S>                                                                                   <C>            <C>
                                                                                        APRIL 25,      APRIL 26,
                                                                                          1998           1997
                                                                                      -------------  -------------
Net Income:
  As reported.......................................................................    $   6,474      $   6,723
  Pro forma.........................................................................        5,364          6,615
 
Per share:
  As reported:
    Basic...........................................................................    $    0.27      $    0.37
    Diluted.........................................................................         0.27           0.37
  Pro forma:
    Basic...........................................................................    $    0.22      $    0.37
    Diluted.........................................................................         0.22           0.36
</TABLE>
 
    The fair value of options granted (which is amortized to expense over the
option vesting period in determining the pro forma impact) is estimated on the
date of grant using the Black-Scholes option pricing model with the following
weighted average assumptions:
 
<TABLE>
<CAPTION>
                                                                                       FOR THE FISCAL YEAR ENDED
                                                                                      ----------------------------
<S>                                                                                   <C>            <C>
                                                                                        APRIL 25,      APRIL 26,
                                                                                          1998           1997
                                                                                      -------------  -------------
Expected life of option.............................................................      7 years        7 years
Risk free interest rate.............................................................        6.36%          6.66%
Expected volatility of USOP stock...................................................        44.1%          44.0%
</TABLE>
 
    The weighted-average fair value of options granted was $6.59 and $4.55 for
fiscal 1998 and 1997, respectively.
 
                                      F-22
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 12--STOCKHOLDER'S EQUITY (CONTINUED)
    A summary of option transactions follows:
 
<TABLE>
<CAPTION>
                                                                             WEIGHTED-                   WEIGHTED-
                                                                              AVERAGE                     AVERAGE
                                                                             EXERCISE       OPTIONS      EXERCISE
                                                               OPTIONS         PRICE      EXERCISABLE      PRICE
                                                             ------------  -------------  -----------  -------------
<S>                                                          <C>           <C>            <C>          <C>
 
Balance at April 30, 1996..................................
Granted....................................................       928,032    $    8.03
Exercised..................................................
Canceled...................................................       (21,887)       11.30
                                                             ------------       ------    -----------        -----
 
Balance at April 26, 1997..................................       906,145         7.96       197,967     $    0.29
Granted....................................................       681,351        12.22
Exercised..................................................      (116,734)        0.29
Canceled...................................................      (122,189)       10.19
                                                             ------------       ------    -----------        -----
 
Balance at April 25, 1998                                       1,348,573    $   10.57       127,995     $    4.31
                                                             ------------       ------    -----------        -----
                                                             ------------       ------    -----------        -----
</TABLE>
 
    The following table summarizes information about stock options outstanding
at April 25, 1998:
 
<TABLE>
<CAPTION>
                                                   OPTIONS OUTSTANDING                        OPTIONS EXERCISABLE
                                   ----------------------------------------------------  -----------------------------
<S>                                <C>           <C>                  <C>                <C>         <C>
                                                  WEIGHTED-AVERAGE
        RANGE OF EXERCISE                             REMAINING       WEIGHTED-AVERAGE               WEIGHTED-AVERAGE
             PRICES                  OPTIONS      CONTRACTUAL LIFE     EXERCISE PRICE     OPTIONS     EXERCISE PRICE
---------------------------------  ------------  -------------------  -----------------  ----------  -----------------
$0.29                                    81,233            8.76           $    0.29          81,233      $    0.29
$9.57-$11.99                            981,475            8.95                9.99          46,762          11.31
$14.38-$15.83                           285,865            9.48               15.51
                                   ------------                              ------      ----------         ------
$0.29-$15.83                          1,348,573            9.05           $   10.57         127,995      $    4.31
                                   ------------                              ------      ----------         ------
                                   ------------                              ------      ----------         ------
</TABLE>
 
    Non-qualified options granted to employees are generally exercisable
beginning one year from the date of grant in cumulative yearly amounts of 25% of
the shares under option and generally expire ten years from date of grant.
 
    Under a services agreement entered into with Jonathan J. Ledecky ("the
Ledecky Services Agreement"), the Board of Directors of U.S. Office Products
agreed to grant Jonathan J. Ledecky a stock option for Company Common Stock from
the Company as of the date of the Distribution. The U.S. Office Products Board
intends the option to be compensation for Mr. Ledecky's services as a director
of the Company, and certain services as an employee of the Company. The fair
value option covered 7.5% of the outstanding Company Common Stock determined as
of the date of the Distribution, with no anti-dilution provisions in the event
of issuance of additional shares of Common Stock (other than with respect to
stock splits or reverse stock splits).
 
    Immediately following the effective date of the registration statements
filed in connection with the Distribution, the Company's Board of Directors
granted approximately 1.3 million options covering the Company's common stock to
certain executive management personnel and non-employee directors. The fair
value options were granted under the 1998 Stock Incentive Plan (the "Plan").
Total options available
 
                                      F-23
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
 
                             (DOLLARS IN THOUSANDS)
 
NOTE 12--STOCKHOLDER'S EQUITY (CONTINUED)
for grant under the Plan will be 45.6% of the outstanding shares of the
Company's common stock immediately following the Distribution, including the
options granted to Mr. Ledecky on that date.
 
NOTE 13--RELATED PARTY TRANSACTIONS
 
    During fiscal 1998, product sales of approximately $4.5 million were made at
cost to a company owned by an officer of the Company.
 
NOTE 14--QUARTERLY FINANCIAL DATA (UNAUDITED)
 
    The following presents certain unaudited quarterly financial data for fiscal
years 1998 and 1997:
 
<TABLE>
<CAPTION>
                                                                       FISCAL YEAR ENDED APRIL 25, 1998
                                                            ------------------------------------------------------
<S>                                                         <C>        <C>        <C>        <C>        <C>
                                                              FIRST     SECOND      THIRD     FOURTH      TOTAL
                                                            ---------  ---------  ---------  ---------  ----------
Revenues..................................................  $  42,730  $  36,875  $  62,907  $  65,829  $  208,341
Gross profit..............................................      9,047      9,718     15,852     15,407      50,024
Operating income..........................................      2,749      3,687      4,816        997      12,249
Net income................................................      1,636      2,233      2,703        (98)      6,474
 
Per share amounts:
  Basic...................................................       0.08       0.10       0.11      (0.01)       0.27
  Diluted.................................................       0.08       0.10       0.10      (0.01)       0.27
</TABLE>
 
<TABLE>
<CAPTION>
                                                                       FISCAL YEAR ENDED APRIL 26, 1997
                                                            ------------------------------------------------------
<S>                                                         <C>        <C>        <C>        <C>        <C>
                                                              FIRST     SECOND      THIRD     FOURTH      TOTAL
                                                            ---------  ---------  ---------  ---------  ----------
Revenues..................................................  $  34,263  $  31,898  $  35,134  $  34,983  $  136,278
Gross profit..............................................      7,982      7,608      9,656      8,903      34,149
Operating income..........................................      2,695      1,779      3,229      2,647      10,350
Net income................................................      2,617      1,315      1,625      1,166       6,723
 
Per share amounts:
  Basic...................................................       0.16       0.08       0.09       0.06        0.37
  Diluted.................................................       0.16       0.07       0.09       0.06        0.37
</TABLE>
 
    The Company recorded $1,750 of strategic restructuring costs during the
fourth quarter of fiscal 1998.
 
NOTE 15--SUBSEQUENT EVENTS
 
WORKING CAPITAL LINE OF CREDIT
 
    As of June 9, 1998, Aztec has access to an unsecured $15,000 working capital
line of credit from BankBoston, N.A. Any advances made under this line of credit
would be due upon demand, or, if no demand is made, the earlier of (i) August
31, 1998, or (ii) the date on which Aztec enters into definitive loan
documentation with BankBoston N.A.
 
                                      F-24
<PAGE>
                          FINANCIAL STATEMENT SCHEDULE
 
                                 (IN THOUSANDS)
 
          SCHEDULE II--VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
 
<TABLE>
<CAPTION>
                                                              CHARGED TO   CHARGED TO                 BALANCE AT
                                               BALANCE AT     COSTS AND       OTHER     DEDUCTIONS/    APRIL 30,
DESCRIPTION                                    MAY 1, 1995     EXPENSES     ACCOUNTS    WRITE-OFFS       1996
--------------------------------------------  -------------  ------------  -----------  -----------  -------------
<S>                                           <C>            <C>           <C>          <C>          <C>
Allowance for doubtful accounts                $   106,000   $     22,000   $  (5,000)   $  --        $   123,000
Accumulated amortization of intangibles            --             --           --           --            --
</TABLE>
 
<TABLE>
<CAPTION>
                                                              CHARGED TO   CHARGED TO                 BALANCE AT
                                               BALANCE AT     COSTS AND       OTHER     DEDUCTIONS/    APRIL 26,
DESCRIPTION                                    MAY 1, 1996     EXPENSES     ACCOUNTS    WRITE-OFFS       1997
--------------------------------------------  -------------  ------------  -----------  -----------  -------------
<S>                                           <C>            <C>           <C>          <C>          <C>
Allowance for doubtful accounts                $   123,000   $    250,000   $  --        $  22,000    $   351,000
Accumulated amortization of intangibles            --             --           --           --            --
</TABLE>
 
<TABLE>
<CAPTION>
                                               BALANCE AT     CHARGED TO   CHARGED TO                 BALANCE AT
                                                APRIL 26,     COSTS AND       OTHER     DEDUCTIONS/    APRIL 25,
DESCRIPTION                                       1997         EXPENSES     ACCOUNTS    WRITE-OFFS       1998
--------------------------------------------  -------------  ------------  -----------  -----------  -------------
<S>                                           <C>            <C>           <C>          <C>          <C>
Allowance for doubtful accounts                $   351,000   $  1,142,000   $ 209,000    $  76,000    $ 1,626,000
Accumulated amortization of intangibles            --             840,000      --           --        $   840,000
</TABLE>
 
                                      F-25
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
                    PRO FORMA COMBINED FINANCIAL STATEMENTS
                                  (UNAUDITED)
 
    The unaudited pro forma combined financial statements give effect to the
spin-off of Aztec Technology Partners, Inc. ("the Company"), formerly the
Technology Solutions division of U.S. Office Products Company ("U.S. Office
Products"), through the distribution of shares of the Company to U.S. Office
Products stockholders ("the Distribution") and to acquisitions completed through
April 25, 1998.
 
    The unaudited pro forma combined balance sheet gives effect to the
Technology Distribution as if such transaction had occurred as of the Company's
most recent balance sheet date, April 25, 1998.
 
    The unaudited pro forma combined statements of income for the fiscal year
ended April 25, 1998 gives effect to the Technology Distribution and the
acquisitions of Compel Corporation, Aztec International, Inc. and three other
individually insignificant companies in business combinations accounted for
under the purchase method which have been completed during the fiscal year
ending April 25, 1998 ("the Fiscal 1998 Purchase Acquisitions"), as if all such
transactions had occurred on April 27, 1997.
 
    The historical financial statements of the Company give retroactive effect
to the results of the five companies acquired by the Company during the fiscal
year ended April 26, 1997 in business combinations accounted for under the
pooling-of-interests method of accounting.
 
    The historical financial statements of the Company also reflect an allocated
portion of general and administrative costs incurred by U.S. Office Products.
The allocated costs include expenses such as: certain corporate executives'
salaries, accounting and legal fees, departmental costs for accounting, finance,
legal, purchasing, marketing and human resources, as well as other general
overhead costs. These corporate overhead costs have been allocated to the
Company using one of several factors, dependent on the nature of the costs being
allocated, including revenues, number and size of acquisitions and number of
employees. Interest costs have been allocated to the Company based upon the
Company's average intercompany balance with U.S. Office Products at U.S. Office
Product's weighted average interest rate during such periods.
 
    The pro forma adjustments are based upon preliminary estimates, available
information and certain assumptions that management believes are appropriate.
The unaudited pro forma combined financial data presented herein does not
purport to represent the Company's financial position or results of operations
would have been had the transactions which are the subject of pro forma
adjustments occurred on those dates, as assumed, and are not necessarily
representative of the Company's financial position or results of operations in
any future period. The pro forma combined financial statements should be read in
conjunction with the other financial statements and notes thereto included
elsewhere in this Annual Report.
 
                                      F-26
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
 
                        PRO FORMA COMBINED BALANCE SHEET
 
                                 APRIL 25, 1998
 
                                 (IN THOUSANDS)
 
                                  (UNAUDITED)
 
<TABLE>
<CAPTION>
                                                                              AZTEC
                                                                            TECHNOLOGY
                                                                            PARTNERS,     PRO FORMA    PRO FORMA
                                                                               INC.      ADJUSTMENTS   COMBINED
                                                                           ------------  -----------  -----------
<S>                                                                        <C>           <C>          <C>
                                                     ASSETS
Current assets:
  Cash and cash equivalents..............................................   $    1,976   $             $   1,976
  Accounts receivable, net...............................................       48,924                    48,924
  Inventories............................................................        9,443                     9,443
  Unbilled percentage of completion revenues.............................        4,557                     4,557
  Prepaid and other current assets.......................................        6,184                     6,184
                                                                           ------------  -----------  -----------
    Total current assets.................................................       71,084                    71,084
 
Property and equipment, net..............................................        5,957                     5,957
Goodwill, net............................................................       63,828                    63,828
Other assets.............................................................          576                       576
                                                                           ------------  -----------  -----------
    Total assets.........................................................   $  141,445   $             $ 141,445
                                                                           ------------  -----------  -----------
                                                                           ------------  -----------  -----------
 
                                      LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
  Current maturities of long-term debt...................................   $      303   $             $     303
  Payable to U.S. Office Products........................................        4,388        (4,388 (a)
  Accounts payable.......................................................       16,380                    16,380
  Accrued compensation...................................................        4,692                     4,692
  Deferred revenue.......................................................        4,843                     4,843
  Other accrued liabilities..............................................        4,186                     4,186
                                                                           ------------  -----------  -----------
    Total current liabilities............................................       34,792        (4,388)     30,404
 
Long-term debt...........................................................          309         4,388(a)      4,697
Deferred income taxes....................................................        1,025                     1,025
                                                                           ------------  -----------  -----------
    Total liabilities....................................................       36,126                    36,126
                                                                           ------------  -----------  -----------
Stockholder's equity:
  Common stock...........................................................                         22(a)         22
  Additional paid-in capital.............................................                     96,094(a)     96,094
  Divisional equity......................................................       96,116       (96,116 (a)
  Retained earnings......................................................        9,203                     9,203
                                                                           ------------  -----------  -----------
    Total stockholders's equity..........................................      105,319                   105,319
                                                                           ------------  -----------  -----------
    Total liabilities and stockholder's equity...........................   $  141,445   $             $ 141,445
                                                                           ------------  -----------  -----------
                                                                           ------------  -----------  -----------
</TABLE>
 
       See accompanying notes to pro forma combined financial statements.
 
                                      F-27
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
                     PRO FORMA COMBINED STATEMENT OF INCOME
                    FOR THE FISCAL YEAR ENDED APRIL 25, 1998
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
                                  (UNAUDITED)
<TABLE>
<CAPTION>
                             AZTEC                                      FISCAL 1998
                          TECHNOLOGY                                    INDIVIDUALLY                               PRO FORMA
                           PARTNERS,         AZTEC          COMPEL      INSIGNIFICANT   PRO FORMA    PRO FORMA   DISTRIBUTION
                             INC.        INTERNATIONAL    CORPORATION   ACQUISITIONS  ADJUSTMENTS    SUBTOTAL     ADJUSTMENTS
                         -------------  ---------------  -------------  -----------  -------------  -----------  -------------
<S>                      <C>            <C>              <C>            <C>          <C>            <C>          <C>
Revenues...............    $ 208,341       $   9,808       $  20,545     $  18,209     $             $ 256,903     $
Cost of revenues.......      158,317           6,056          14,452        13,228                     192,053
                         -------------        ------     -------------  -----------  -------------  -----------  -------------
  Gross profit.........       50,024           3,752           6,093         4,981                      64,850
 
Selling, general and
  administrative
  expenses.............       35,185           2,407           2,914         3,275          (312)(b)     43,469
Goodwill amortization
  expense..............          840              12                                         813(c)      1,665
Strategic restructuring
  costs................        1,750                                                                     1,750        (1,750)(d)
                         -------------        ------     -------------  -----------  -------------  -----------  -------------
  Operating income.....       12,249           1,333           3,179         1,706          (501)       17,966         1,750
 
Other (income) expense:
  Interest expense.....          807              87              71           127                       1,092          (692)(e)
  Interest income......         (785)            (39)            (20)                                     (844)          844(e)
  Other................          (44)           (117)            (30)          (91)                       (282)
                         -------------        ------     -------------  -----------  -------------  -----------  -------------
Income before provision
  for income taxes.....       12,271           1,402           3,158         1,670          (501)       18,000         1,598
Provision for income
  taxes................        5,797              55              49           339         1,679(f)      7,919           703(f)
                         -------------        ------     -------------  -----------  -------------  -----------  -------------
Net income.............    $   6,474       $   1,347       $   3,109     $   1,331     $  (2,180)    $  10,081     $     895
                         -------------        ------     -------------  -----------  -------------  -----------  -------------
                         -------------        ------     -------------  -----------  -------------  -----------  -------------
Weighted average shares
  outstanding:
  Basic................       23,911
  Diluted..............       24,385
Net income per share:
  Basic................    $    0.27
                         -------------
                         -------------
  Diluted..............    $    0.27
                         -------------
                         -------------
 
<CAPTION>
 
                          PRO FORMA
                          COMBINED
                         -----------
<S>                      <C>
Revenues...............   $ 256,903
Cost of revenues.......     192,053
                         -----------
  Gross profit.........      64,850
Selling, general and
  administrative
  expenses.............      43,469
Goodwill amortization
  expense..............       1,665
Strategic restructuring
  costs................
                         -----------
  Operating income.....      19,716
Other (income) expense:
  Interest expense.....         400
  Interest income......
  Other................        (282)
                         -----------
Income before provision
  for income taxes.....      19,598
Provision for income
  taxes................       8,622
                         -----------
Net income.............   $  10,976
                         -----------
                         -----------
Weighted average shares
  outstanding:
  Basic................      21,938
  Diluted..............      21,938
Net income per share:
  Basic................   $    0.50
                         -----------
                         -----------
  Diluted..............   $    0.50
                         -----------
                         -----------
</TABLE>
 
       See accompanying notes to pro forma combined financial statements.
 
                                      F-28
<PAGE>
                        AZTEC TECHNOLOGY PARTNERS, INC.
           NOTES TO UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS
                    (DOLLARS AND SHARE AMOUNTS IN THOUSANDS)
 
1. BALANCE SHEET
 
    (a) Adjustment to reflect the reclassification of divisional equity to
common stock and additional paid-in-capital and the utilization of $4,388 drawn
from the Company's Proposed Credit Facility to repay the U.S. Office Products
debt as a result of the Aztec Distribution. The Aztec Distribution resulted in
the issuance of 21,938 shares of Common Stock.
 
2. STATEMENT OF INCOME
 
    (b) Adjustment to reflect reductions in executive compensation as a result
of the elimination of certain executive positions and the renegotiations of
executive compensation agreements resulting from certain acquisitions. The
Company believes that these reductions are expected to remain in place for the
foreseeable future and are not reasonably likely to affect operating
performance.
 
    (c) Adjustment to reflect the increase in amortization expense relating to
goodwill recorded in purchase accounting related to the Fiscal 1998 Purchase
Acquisitions for the period prior to the respective dates of acquisition. The
Company has recorded goodwill amortization in the historical financial
statements from the respective dates of acquisition forward. The goodwill is
being amortized over periods ranging from 25-40 years.
 
    (d) Adjustment to reflect the reductions in operating expenses as a result
of the Company's portion of the costs incurred by U.S. Office Products as a
result of U.S. Office Products' recently completed comprehensive restructuring
plan (See Notes to Consolidated Financial Statements).
 
    (e) Adjustment to reflect the reductions in interest expense and interest
income. Interest expense is being calculated on the debt outstanding at April
25, 1998 of $5,000 at a weighted average interest rate of approximately 8.0%.
The adjustment also reflects a reduction in interest income to zero as the
Company expects to use all available cash to repay debt rather than for
investment purposes.
 
    (f) Adjustment to calculate the provision for income tax on the combined pro
forma results at an effective income tax rate of approximately 44%. The
difference between the effective tax rate of 44% and the statutory rate of 35%
relates primarily to state income taxes and non-deductible goodwill. This
adjustment assumes that all companies were taxed at 44% regardless of how they
were taxed prior to being acquired by the Company.
 
    (g) The weighted average shares outstanding used to calculate pro forma
earnings per share of 21,938 is calculated based upon approximately 109,690
shares of U.S. Office Products common stock outstanding on the date of the Aztec
Distribution divided by five, which is the Distribution Ratio.
 
                                      F-29