<PAGE>
  
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                           Washington, D. C.  20549
                          __________________________
                                  FORM 10-K/A
                                AMENDMENT NO. 1
                                       
/X/ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act
    of 1934 for the fiscal year ended June 27, 1997

/ / Transition report pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934 for the transition period from _______ to ______.

Commission file number:  0-25684

                         PREMISYS COMMUNICATIONS, INC.
            (Exact name of registrant as specified in its charter)
                                       
            DELAWARE                                             94-3153847
  (State or other jurisdiction                                (I.R.S. Employer
of incorporation or organization)                            Identification No.)

48664 MILMONT DRIVE, FREMONT CALIFORNIA                            94538
(Address of principal executive offices)                         (Zip code)

      Registrant's telephone number, including area code:  (510) 353-7600

          Securities registered pursuant to Section 12(b) of the Act:

                                     NONE

          Securities registered pursuant to Section 12(g) of the Act:
                         COMMON STOCK, $0.01 PAR VALUE
                               (Title of Class)

     Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

                              Yes   X    No 
                                  -----     -----

     Indicate by check mark if disclosure of delinquent filers pursuant to 
Item 405 of Regulation S-K is not contained herein, and will not be 
contained, to the best of the 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. /X/

     The aggregate market value of the voting stock held by non-affiliates of 
the registrant as of September 18, 1997, was approximately $577,122,000.

     As of September 18, 1997, Registrant had outstanding 25,367,954 shares 
of Common Stock.

                      DOCUMENTS INCORPORATED BY REFERENCE

     Portions of the Company's definitive proxy statement filed with the 
Securities and Exchange Commission relative to the Company's 1997 annual 
meeting of stockholders are incorporated by reference in Part III of this 
Form 10-K.

<PAGE>
                                    PART IV
                                       
ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K.

(a)  The following financial statements and schedules are filed as part of this
     report:

(1)  Financial Statements
     See index included in Part II, Item 8.
     
(2)  Financial Statement Schedules
     All schedules are omitted because they are not applicable, or the required
     information is included in the financial statements or notes thereto.
     
(a)(3) and (c).  The following exhibits are filed herewith or incorporated by 
reference:

<TABLE>
<CAPTION>

EXHIBIT                                  EXHIBIT TITLE
NUMBER                                   
<S>         <C>
2.01         Premisys California Acquisition Agreement between Premisys Communications Holdings, 
             Inc. and Premisys Communications Pte Ltd, dated as of March 12, 1992, and exhibits 
             thereto. (1)
2.02         Exchange Agreement by and among Premisys Communications Holdings, Inc. and the 
             shareholders, warrant holders and noteholders of Premisys Communications Pte Ltd, 
             dated as of March 12, 1992, and material exhibits thereto.  ***(1)
2.03         Form of Agreement and Plan of Merger by and among the Registrant, Premisys Communications 
             Holdings, Inc. and Premisys Communications, Inc.(1) 
3.01         Registrant's Amended and Restated Certificate of Incorporation as filed with the Delaware 
             Secretary of State on April 12, 1995.(2)
3.04         Registrant's Bylaws, as amended.(1)
3.05         Certificate of Amendment of Amended and Restated Certificate of Incorporation of 
             Premisys Communications, Inc.(4)
4.01         Form of Specimen Certificate for Registrant's Common Stock.(1)
4.02         Investor's Rights Agreement, dated as of March 12, 1992, as amended June 15, 1992, 
             October 22, 1993, December 14, 1993, February 18, 1994 and May 9, 1994 among Registrant 
             and various investors.(1)
4.03         Waiver Relating to and Amendment of Investors' Rights Agreement dated as of July 24, 1995 
             among Registrant and various investors.(3)
+10.01       Registrant's 1992 Stock Option Plan and related documents.(1)
+10.02       Registrant's 1994 Stock Option Plan and related documents.(10)
+10.03       Registrant's 1995 Directors Stock Option Plan and related documents.(1)
+10.04       Registrant's 1995 Employee Stock Purchase Plan and related documents.(1)
+10.06       Founders Agreement by and among Registrant, Raymond Lin, Boris Auerbuch and Marcus 
             Auerbuch, dated as of March 12, 1992.**(1)
10.08        Form of Indemnity Agreement entered into by Registrant with each of its directors and 
             executive officers.(1)
10.09        Warranty and Indemnification Agreement by and among Raymond Lin, Boris Auerbuch and 
             Registrant dated as of August 2, 1990.(1)
10.10        Agreement for Purchase and Sale of Assets by and between Premisys 

                                       2

<PAGE>

             Communications, Inc., a California corporation, and Premisys Communications Pte 
             Ltd, dated as of January 1, 1992, including Bill of Sale.(1)
10.11        Technology Cost and Risk Sharing Agreement by and between Premisys Communications, Inc., 
             a California corporation, and Premisys Communications Pte Ltd, dated as of January 1, 1992.(1)
10.12        Agreement regarding payment by and between Premisys Communications, Inc., a California 
             corporation, and Premisys Communications Pte. Ltd., dated as of September 30, 1992.(1)
10.13        Technology Cost and Risk Sharing Agreement Amendment by and between Premisys Communications, 
             Inc., a California corporation, and Premisys Communications Pte Ltd, dated as of 
             July 1, 1995.(6)
10.15        Option Agreement by and between Registrant and AT&T Paradyne Corporation, dated as of 
             December 4, 1992.(1)
10.16        Series C Preferred Stock Purchase Agreement by and between Registrant and AT&T Paradyne 
             Corporation, dated as of December 14, 1993 and material exhibits thereto.***(1)
10.18        Lease Agreement by and between Registrant and Aetna Life Insurance Company, dated 
             October 4, 1993, as amended to date.(1)
10.19        OEM Agreement by and among Premisys Communications Holdings, Inc., Premisys Communications, 
             Inc., a California corporation, and AT&T Paradyne Corporation, dated as of December 4, 
             1992, as amended July 8, 1993, March 17, 1994 and May 24, 1994.**(1)
10.20        Extension Agreements by and among Premisys Communications Holdings, Inc., Premisys 
             Communications, Inc., a California corporation, and AT&T Paradyne Corporation, dated as 
             of June 30, 1993 and July 12, 1993 and September 30, 1993.**(1)
10.21        Co-Development Agreement between Registrant and AT&T Paradyne Corporation, dated as of 
             September 30, 1993, as amended November 9, 1993 and May 25, 1994.**(1)
10.22        Private Label Purchase/Resale Agreement by and between Registrant and DSC Technologies 
             Corporation, effective as of March 31, 1994.**(1)
10.23        Purchase/Resale Agreement by and between Registrant and ADC Telecommunications, Inc., 
             effective as of January 1, 1994.**(1)
10.24        Manufacturing Agreement by and between Registrant and Eltech Electronics Technology (M) 
             SDN BHD (Malaysia) as of July 22, 1996.**(6)
10.26        Original Equipment Manufacturer (OEM) Volume Purchase Agreement between Registrant and 
             Motorola, Inc. dated December 21, 1994.**(1) 
+10.27       Employment Agreement by and between Premisys Communications Holdings, Inc. and 
             Riley R. Willcox dated as of February 10, 1994.(1)
10.28        Amendment No. 4 to OEM Agreement by and among Premisys Communications Holdings, Inc., 
             Premisys Communications, Inc., a California corporation, and AT&T Paradyne Corporation 
             dated as of March 6, 1995.**(1)
+10.29       Registrant's Management Salary and Incentive Plan for the Fiscal Year Ended June 30, 1996.(3)
10.30        Lease Agreement by and between Premisys and Berg & Berg Enterprises, Inc., dated 
             October 24, 1995, for the premises located at 48700 Milmont Drive, Fremont, California. ***(4)

                                       3
<PAGE>

10.31        Amendments Number 5 and 6 to OEM Agreement by and between Premisys Communications, Inc., 
             a Delaware Corporation and AT&T Paradyne Corporation, dated as of April 1, 1995.**(5)
+10.32       Registrant's Management Incentive Plan for the fiscal year ended June 30, 1997.(6)
10.33        Amendment Number 7 and 8 to OEM Agreement by and between Premisys Communications, Inc., 
             a Delaware Corporation, and Paradyne Corporation, dated as of December 2, 1996.**(9)
10.34        First Amendment to Lease Agreement by and between Premisys Communications, Inc. and 
             Berg & Berg Enterprises, Inc., dated September 17, 1996, for the premises located at 
             48800 Milmont Drive, Fremont, California (formerly 48700 Milmont Drive, Fremont, California).(8)
10.35        Second Amendment to Lease Agreement by and between Premisys Communications, Inc. and 
             Aetna Life Insurance Company, dated August 9, 1996.(7)
10.36        Manufacturing Agreement by and between Premisys Communications, Inc., and CMC 
             Mississippi, Inc. as of January 9, 1997.*(11)
10.37        Amendment Number 9 to OEM Agreement by and between Premisys Communications, Inc., a 
             Delaware Corporation and AT&T Paradyne Corporation, dated as of May 13, 1997.*(11)
+10.38       Employment Agreement by and between Premisys Communications Inc. and Nicholas Williams 
             dated as of March 31, 1997.(11)
+10.39       Registrant's Management Incentive Plan for the fiscal year ended June 30, 1998.(11)
10.40        License Agreement dated December 27, 1996 between Premisys Communications, Inc. and 
             Positron Fiber Systems Corporation.*
11.01        Statement regarding computation of net income per share.(11)
21.01        List of Registrant's subsidiaries.(1)
23.01        Consent of Price Waterhouse LLP, Independent Accountants.(11)
24.01        Power of Attorney.(11)
27.01        Financial Data Schedule.(11)

</TABLE>
_____________
     
(1)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form S-1 Registration Statement declared effective April 15,
     1995 (File No. 33-89598).
     
(2)  Incorporated by reference to Exhibit 3.01 to the Registrant's Form 10-Q
     (File No. 0-25684) for the quarter ended March 31, 1995 filed May 22,
     1995.
     
(3)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form S-1 Registration Statement filed August 1, 1995 (File
     No. 33-95266).
     
(4)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended December
     29, 1995 filed February 12, 1996.
     
(5)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended March 29,
     1996 filed May 3, 1996.

                                       4
<PAGE>
     
(6)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-K (File No. 0-25684) for the fiscal year ended June
     28, 1996 initially filed September 26, 1996.
     
(7)  Incorporated by reference to the exhibit bearing the number 10.33 in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended September
     27, 1996 filed November 10, 1996.
     
(8)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended September
     27, 1996 filed November 10, 1996.
     
(9)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended December
     27, 1996 filed February 9, 1997.
     
(10) Incorporated by reference to Exhibit 4.04 in Registrant's Form S-8
     Registration Statement filed April 25, 1996 (File No. 333-4060).
     
(11) Previously filed on September 25, 1997 with Registrant's Form 10-K for the
     year ended June 27, 1997.
     
+    Management contract or compensatory plan or arrangement.
     
*    Confidential treatment has been requested with respect to certain portions
     of this agreement. Such portions have been omitted from this filing and
     have been filed separately with the Securities and Exchange Commission.
     
**   Confidential treatment was received with respect to certain portions of
     this agreement.  Such portions have been omitted from this filing and have
     been filed separately with the Securities and Exchange Commission.
     
***  Certain exhibits to the exhibit will be furnished supplementally to the
     Securities and Exchange Commission upon its request.
     
(b)  Reports on Form 8-K.
     
     No reports on Form 8-K were filed during the quarter ended June 30, 1997.

                                       5
<PAGE>
                                       
                                  SIGNATURES
                                       
     Pursuant to the requirements of Section 13 or 15(d) of the Securities 
Exchange Act of 1934, as amended, the Registrant has duly caused this 
amendment to report to be signed on its behalf by the undersigned, thereunto 
duly authorized, in the City of Fremont, State of California, on the 30th day 
of December, 1997.

                              PREMISYS COMMUNICATIONS, INC.

                              By:             *
                                 ------------------------------
                                        Raymond C. Lin
                                    CHIEF EXECUTIVE OFFICER

     Pursuant to the requirements of the Securities Exchange Act of 1934, as 
amended, this report has been signed by the following persons in the 
capacities and on the dates indicated.

<TABLE>
<CAPTION>

NAME                                          TITLE                         DATE
----                                          -----                         ----
<S>                                  <C>                             <C>
PRINCIPAL EXECUTIVE OFFICER:

         *
------------------------------        Chief Executive Officer          December 30, 1997
Raymond C. Lin                        and a Director         

PRINCIPAL FINANCIAL OFFICER:

         *
------------------------------        Senior Vice President, Chief     December 30, 1997
Riley R. Willcox                      Financial Officer and Secretary              

PRINCIPAL ACCOUNTING OFFICER:

         *
------------------------------        Vice President and Controller    December 30, 1997
Robert W. Dilfer       


ADDITIONAL DIRECTORS:

         *
------------------------------        Director                         December 30, 1997
Boris J. Auerbuch      

         *
------------------------------        Director                         December 30, 1997
Lip-Bu Tan             

         *
------------------------------        Director                         December 30, 1997
Gary J. Morgenthaler   


                                       6
<PAGE>

         *
------------------------------        Director                         December 30, 1997
Marino R. Polestra     

         *
------------------------------        Director                         December 30, 1997
Edward A. Keible       

         *
------------------------------        Director                         December 30, 1997
Robert C. Hawk         


</TABLE>

*By:  /s/ Riley R. Willcox
    ------------------------------
    Riley R. Willcox
    Attorney-in-Fact

<PAGE>

                                 EXHIBIT INDEX

<TABLE>
<CAPTION>

EXHIBIT                                  EXHIBIT TITLE
NUMBER                                   
<S>         <C>
2.01         Premisys California Acquisition Agreement between Premisys Communications Holdings, 
             Inc. and Premisys Communications Pte Ltd, dated as of March 12, 1992, and exhibits 
             thereto. (1)
2.02         Exchange Agreement by and among Premisys Communications Holdings, Inc. and the 
             shareholders, warrant holders and noteholders of Premisys Communications Pte Ltd, 
             dated as of March 12, 1992, and material exhibits thereto.  ***(1)
2.03         Form of Agreement and Plan of Merger by and among the Registrant, Premisys Communications 
             Holdings, Inc. and Premisys Communications, Inc.(1) 
3.01         Registrant's Amended and Restated Certificate of Incorporation as filed with the Delaware 
             Secretary of State on April 12, 1995.(2)
3.04         Registrant's Bylaws, as amended.(1)
3.05         Certificate of Amendment of Amended and Restated Certificate of Incorporation of 
             Premisys Communications, Inc.(4)
4.01         Form of Specimen Certificate for Registrant's Common Stock.(1)
4.02         Investor's Rights Agreement, dated as of March 12, 1992, as amended June 15, 1992, 
             October 22, 1993, December 14, 1993, February 18, 1994 and May 9, 1994 among Registrant 
             and various investors.(1)
4.03         Waiver Relating to and Amendment of Investors' Rights Agreement dated as of July 24, 1995 
             among Registrant and various investors.(3)
+10.01       Registrant's 1992 Stock Option Plan and related documents.(1)
+10.02       Registrant's 1994 Stock Option Plan and related documents.(10)
+10.03       Registrant's 1995 Directors Stock Option Plan and related documents.(1)
+10.04       Registrant's 1995 Employee Stock Purchase Plan and related documents.(1)
+10.06       Founders Agreement by and among Registrant, Raymond Lin, Boris Auerbuch and Marcus 
             Auerbuch, dated as of March 12, 1992.**(1)
10.08        Form of Indemnity Agreement entered into by Registrant with each of its directors and 
             executive officers.(1)
10.09        Warranty and Indemnification Agreement by and among Raymond Lin, Boris Auerbuch and 
             Registrant dated as of August 2, 1990.(1)
10.10        Agreement for Purchase and Sale of Assets by and between Premisys 
             Communications, Inc., a California corporation, and Premisys Communications Pte 
             Ltd, dated as of January 1, 1992, including Bill of Sale.(1)
10.11        Technology Cost and Risk Sharing Agreement by and between Premisys Communications, Inc., 
             a California corporation, and Premisys Communications Pte Ltd, dated as of January 1, 1992.(1)
10.12        Agreement regarding payment by and between Premisys Communications, Inc., a California 
             corporation, and Premisys Communications Pte. Ltd., dated as of September 30, 1992.(1)
10.13        Technology Cost and Risk Sharing Agreement Amendment by and between Premisys Communications, 
             Inc., a California corporation, and Premisys Communications Pte Ltd, dated as of 
             July 1, 1995.(6)

<PAGE>

10.15        Option Agreement by and between Registrant and AT&T Paradyne Corporation, dated as of 
             December 4, 1992.(1)
10.16        Series C Preferred Stock Purchase Agreement by and between Registrant and AT&T Paradyne 
             Corporation, dated as of December 14, 1993 and material exhibits thereto.***(1)
10.18        Lease Agreement by and between Registrant and Aetna Life Insurance Company, dated 
             October 4, 1993, as amended to date.(1)
10.19        OEM Agreement by and among Premisys Communications Holdings, Inc., Premisys Communications, 
             Inc., a California corporation, and AT&T Paradyne Corporation, dated as of December 4, 
             1992, as amended July 8, 1993, March 17, 1994 and May 24, 1994.**(1)
10.20        Extension Agreements by and among Premisys Communications Holdings, Inc., Premisys 
             Communications, Inc., a California corporation, and AT&T Paradyne Corporation, dated as 
             of June 30, 1993 and July 12, 1993 and September 30, 1993.**(1)
10.21        Co-Development Agreement between Registrant and AT&T Paradyne Corporation, dated as of 
             September 30, 1993, as amended November 9, 1993 and May 25, 1994.**(1)
10.22        Private Label Purchase/Resale Agreement by and between Registrant and DSC Technologies 
             Corporation, effective as of March 31, 1994.**(1)
10.23        Purchase/Resale Agreement by and between Registrant and ADC Telecommunications, Inc., 
             effective as of January 1, 1994.**(1)
10.24        Manufacturing Agreement by and between Registrant and Eltech Electronics Technology (M) 
             SDN BHD (Malaysia) as of July 22, 1996.**(6)
10.26        Original Equipment Manufacturer (OEM) Volume Purchase Agreement between Registrant and 
             Motorola, Inc. dated December 21, 1994.**(1) 
+10.27       Employment Agreement by and between Premisys Communications Holdings, Inc. and 
             Riley R. Willcox dated as of February 10, 1994.(1)
10.28        Amendment No. 4 to OEM Agreement by and among Premisys Communications Holdings, Inc., 
             Premisys Communications, Inc., a California corporation, and AT&T Paradyne Corporation 
             dated as of March 6, 1995.**(1)
+10.29       Registrant's Management Salary and Incentive Plan for the Fiscal Year Ended June 30, 1996.(3)
10.30        Lease Agreement by and between Premisys and Berg & Berg Enterprises, Inc., dated 
             October 24, 1995, for the premises located at 48700 Milmont Drive, Fremont, California. ***(4)
10.31        Amendments Number 5 and 6 to OEM Agreement by and between Premisys Communications, Inc., 
             a Delaware Corporation and AT&T Paradyne Corporation, dated as of April 1, 1995.**(5)
+10.32       Registrant's Management Incentive Plan for the fiscal year ended June 30, 1997.(6)
10.33        Amendment Number 7 and 8 to OEM Agreement by and between Premisys Communications, Inc., 
             a Delaware Corporation, and Paradyne Corporation, dated as of December 2, 1996.**(9)
10.34        First Amendment to Lease Agreement by and between Premisys Communications, Inc. and 
             Berg & Berg Enterprises, Inc., dated September 17, 1996, for the premises located at 
             48800 Milmont Drive, Fremont, California (formerly 48700 Milmont Drive, Fremont, California).(8)

<PAGE>

10.35        Second Amendment to Lease Agreement by and between Premisys Communications, Inc. and 
             Aetna Life Insurance Company, dated August 9, 1996.(7)
10.36        Manufacturing Agreement by and between Premisys Communications, Inc., and CMC 
             Mississippi, Inc. as of January 9, 1997.*(11)
10.37        Amendment Number 9 to OEM Agreement by and between Premisys Communications, Inc., a 
             Delaware Corporation and AT&T Paradyne Corporation, dated as of May 13, 1997.*(11)
+10.38       Employment Agreement by and between Premisys Communications Inc. and Nicholas Williams 
             dated as of March 31, 1997.(11)
+10.39       Registrant's Management Incentive Plan for the fiscal year ended June 30, 1998.(11)
10.40        License Agreement dated December 27, 1996 between Premisys Communications, Inc. and 
             Positron Fiber Systems Corporation.*
11.01        Statement regarding computation of net income per share.(11)
21.01        List of Registrant's subsidiaries.(1)
23.01        Consent of Price Waterhouse LLP, Independent Accountants.(11)
24.01        Power of Attorney.(11)
27.01        Financial Data Schedule.(11)

</TABLE>
_____________
     
(1)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form S-1 Registration Statement declared effective April 15,
     1995 (File No. 33-89598).
     
(2)  Incorporated by reference to Exhibit 3.01 to the Registrant's Form 10-Q
     (File No. 0-25684) for the quarter ended March 31, 1995 filed May 22,
     1995.
     
(3)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form S-1 Registration Statement filed August 1, 1995 (File
     No. 33-95266).
     
(4)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended December
     29, 1995 filed February 12, 1996.
     
(5)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended March 29,
     1996 filed May 3, 1996.
  
(6)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-K (File No. 0-25684) for the fiscal year ended June
     28, 1996 initially filed September 26, 1996.
     
(7)  Incorporated by reference to the exhibit bearing the number 10.33 in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended September
     27, 1996 filed November 10, 1996.
     
(8)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended September
     27, 1996 filed November 10, 1996.

<PAGE>
     
(9)  Incorporated by reference to the exhibit bearing the same number in
     Registrant's Form 10-Q (File No. 0-25684) for the quarter ended December
     27, 1996 filed February 9, 1997.
     
(10) Incorporated by reference to Exhibit 4.04 in Registrant's Form S-8
     Registration Statement filed April 25, 1996 (File No. 333-4060).
     
(11) Previously filed on September 25, 1997 with Registrant's Form 10-K for the
     year ended June 27, 1997.
     
+    Management contract or compensatory plan or arrangement.
     
*    Confidential treatment has been requested with respect to certain portions
     of this agreement. Such portions have been omitted from this filing and
     have been filed separately with the Securities and Exchange Commission.
     
**   Confidential treatment was received with respect to certain portions of
     this agreement.  Such portions have been omitted from this filing and have
     been filed separately with the Securities and Exchange Commission.
     
***  Certain exhibits to the exhibit will be furnished supplementally to the
     Securities and Exchange Commission upon its request.