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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                             ---------------------

                                  FORM 10-K/A

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

                  FOR THE FISCAL YEAR ENDED DECEMBER 31, 1999

                          COMMISSION FILE NO. 0-23694

                             ---------------------

                       NUCENTRIX BROADBAND NETWORKS, INC.
             (Exact name of Registrant as specified in its charter)

                                    DELAWARE
                            (State of Incorporation)

                                   73-1435149
                      (I.R.S. Employer Identification No.)

                         200 CHISHOLM PLACE, SUITE 200
                                  PLANO, TEXAS
                    (Address of principal executive offices)

                                     75075
                                   (Zip Code)

                                 (972) 423-9494
              (Registrant's telephone number, including area code)

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ITEM 6. SELECTED FINANCIAL DATA

     The following table presents summary historical financial and other data
for Nucentrix. As a result of the application of Fresh Start Reporting,
financial information as of December 31, 1999, and for the period from the
Effective Date to December 31, 1999 (the "Successor Period"), is presented on a
different basis than the financial information as of and for each of the years
in the four year period ended December 31, 1998, and for the period from January
1, 1999, to the Effective Date (collectively, the "Predecessor Period"). See
"Reorganization" in Item 1. The selected historical financial data presented
below as of and for each of the years in the five year period ended December 31,
1999, is derived from the audited Consolidated Financial Statements of
Nucentrix. Historically, we have used our spectrum primarily to deliver
subscription television services and, therefore, our historical results are not
necessarily indicative of our future results as we implement our business
strategy as described in "Part 1., Item 1. Business." You should read the
financial data below together with "Item 7. Management's Discussion and Analysis
of Financial Condition and Results of Operations" and with Nucentrix's
Consolidated Financial Statements, including the notes thereto, included
elsewhere in this document.

<TABLE>
<CAPTION>
                                         SUCCESSOR                                PREDECESSOR
                                     -----------------   --------------------------------------------------------------
                                        PERIOD FROM        PERIOD FROM
                                     EFFECTIVE DATE TO   JANUARY 1, 1999,             YEAR ENDED DECEMBER 31,
                                       DECEMBER 31,        TO EFFECTIVE     -------------------------------------------
                                           1999                DATE           1998        1997        1996       1995
                                     -----------------   ----------------   ---------   ---------   --------   --------
                                                       (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
<S>                                  <C>                 <C>                <C>         <C>         <C>        <C>
STATEMENT OF OPERATIONS DATA:
Revenues...........................      $ 52,009            $ 18,466       $  73,989   $  78,792   $ 56,017   $ 15,300
Operating expenses:
  System operation.................        23,767               8,599          35,790      39,596     21,255      4,893
  Selling, general and
    administrative.................        26,125               9,156          36,367      42,255     42,435     11,887
  Depreciation and
    amortization(1)(2).............        19,167               6,104          39,550      65,112     39,323      6,234
  Impairment of long-lived
    assets(2)......................            --                  --         105,791          --         --         --
                                         --------            --------       ---------   ---------   --------   --------
         Total operating
           expenses................        69,059              23,859         217,498     146,963    103,013     23,014
                                         --------            --------       ---------   ---------   --------   --------
Operating loss.....................       (17,050)             (5,393)       (143,509)    (68,171)   (46,996)    (7,714)
Interest income (expense), net.....           334                 102         (34,436)    (34,321)   (18,166)   (10,857)
Equity in losses of affiliates.....            --                  --         (30,340)    (32,037)   (18,612)    (1,369)
Other income (expense).............           483                   2             (10)        (54)     4,981       (247)
                                         --------            --------       ---------   ---------   --------   --------
Loss before reorganization costs,
  income taxes and extraordinary
  item.............................       (16,233)             (5,289)       (208,295)   (134,583)   (78,793)   (20,187)
Reorganization costs(3)............        (1,011)             (2,311)         (3,266)         --         --         --
                                         --------            --------       ---------   ---------   --------   --------
Loss before income taxes and
  extraordinary item...............       (17,244)             (7,600)       (211,561)   (134,583)   (78,793)   (20,187)
Income tax benefit.................            --                  --              --          --     28,156      4,285
                                         --------            --------       ---------   ---------   --------   --------
Loss before extraordinary item.....       (17,244)             (7,600)       (211,561)   (134,583)   (50,637)   (15,902)
Extraordinary item.................            --             173,783              --          --    (10,424)        --
                                         --------            --------       ---------   ---------   --------   --------
Net income (loss)..................      $(17,244)           $166,183       $(211,561)  $(134,583)  $(61,061)  $(15,902)
                                         ========            ========       =========   =========   ========   ========
Net loss per new common
  share -- basic and diluted(4)....      $  (1.71)                N/A             N/A         N/A        N/A        N/A
                                         ========            ========       =========   =========   ========   ========
</TABLE>

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<TABLE>
<CAPTION>
                                    SUCCESSOR                               PREDECESSOR
                                -----------------   -----------------------------------------------------------
                                   PERIOD FROM        PERIOD FROM
                                EFFECTIVE DATE TO   JANUARY 1, 1999,           YEAR ENDED DECEMBER 31,
                                  DECEMBER 31,        TO EFFECTIVE     ----------------------------------------
                                      1999                DATE          1998       1997       1996       1995
                                -----------------   ----------------   -------   --------   --------   --------
                                                            (DOLLARS IN THOUSANDS)
<S>                             <C>                 <C>                <C>       <C>        <C>        <C>
OTHER DATA:
EBITDA(5).....................       $2,117             $   711        $ 1,832   $ (3,059)  $ (7,673)  $ (1,480)
Net cash provided by (used in)
  operating activities........        5,593               2,449         (8,377)   (41,646)   (22,754)    (6,474)
Net cash provided by (used in)
  investing activities........       (3,949)             (4,959)        (2,038)     6,826    (34,169)   (96,703)
Net cash provided by (used in)
  financing activities........         (302)               (576)        (1,730)    (1,955)   113,376    114,334
Capital Expenditures..........       10,199               2,550         13,473     29,712     95,680     46,034
</TABLE>

<TABLE>
<CAPTION>
                                                 SUCCESSOR                    PREDECESSOR
                                                ------------   ------------------------------------------
                                                   AS OF                   AS OF DECEMBER 31,
                                                DECEMBER 31,   ------------------------------------------
                                                    1999         1998        1997       1996       1995
                                                ------------   ---------   --------   --------   --------
                                                                 (DOLLARS IN THOUSANDS)
<S>                                             <C>            <C>         <C>        <C>        <C>
BALANCE SHEET DATA:
Cash and cash equivalents.....................    $ 28,932     $  30,676   $ 42,821   $ 79,596   $ 23,143
Restricted assets.............................         650         1,011     10,333     30,007     18,739
Systems and equipment, net(2).................      55,993        61,037    122,653    145,797     60,649
License and leased license investment,
  net(2)......................................      73,310        79,703    123,369    129,725     60,421
Total assets..................................     168,811       186,032    372,134    515,364    205,405
Long-term debt, including current portion.....      16,516        16,277    308,196    303,538    141,652
Liabilities subject to compromise(3)..........          --       322,781         --         --         --
Total stockholders' equity (deficit)..........     130,045      (165,090)    46,408    180,847     51,688
</TABLE>

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(1) We changed the useful lives for depreciating the nonrecoverable portion of
    subscriber installation costs in 1997 and 1996, and for amortizing license
    and leased license costs and excess of cost over fair value of net assets
    acquired in 1996. See Notes 1(g) and 1(h) to the Consolidated Financial
    Statements.

(2) During the second and third quarters of 1998, in accordance with Statement
    of Financial Accounting Standards ("SFAS") No. 121, we wrote down channel
    licenses and leases, systems and equipment and other long-lived assets to
    estimated fair value, which resulted in a non-cash impairment charge of
    $105.8 million. See Note 2 to the Consolidated Financial Statements.

(3) We filed a voluntary petition for reorganization under Chapter 11 of the
    U.S. Bankruptcy Code on December 4, 1998. Our Plan was confirmed on March
    15, 1999, and became effective on April 1, 1999. Accordingly, we have
    reclassified our Old Senior Notes and Old Convertible Notes, which were
    subject to compromise in the reorganization, to "Liabilities Subject to
    Compromise" at December 31, 1998. See Note 8 to the Consolidated Financial
    Statements. Expenses related to our reorganization, such as professional
    fees and administrative expenses, are classified as "Reorganization costs."

(4) Loss per basic and dilutive common share for each period presented has been
    calculated using the provisions of SFAS No. 128, "Earnings per Share," which
    is effective for periods ending after December 15, 1997, and requires
    restatement of all prior period loss per share data. Earnings per share
    information has not been presented for the Predecessor Period because
    Nucentrix was recapitalized on the Effective Date, in connection with the
    Plan, and accordingly, per share amounts are not comparable between the
    Predecessor Period and the Successor Period. See Note 1(l) to the
    Consolidated Financial Statements.

(5) "EBITDA" represents earnings before interest, taxes, depreciation and
    amortization and non-recurring items. EBITDA is presented because it is a
    widely accepted financial indicator of a company's ability to service and/or
    incur indebtedness. However, EBITDA is not a financial measure determined
    under generally accepted accounting principles and should not be considered
    as an alternative to net income as a measure of operating results or to cash
    flows as a measure of funds available for discretionary or other liquidity
    purposes. EBITDA may be calculated differently from company to company.

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                                   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.

                                            NUCENTRIX BROADBAND
                                            NETWORKS, INC.

                                            By:   /s/ CARROLL D. MCHENRY
                                              ----------------------------------
                                              Carroll D. McHenry
                                              Chairman of the Board, President
                                                and
                                              Chief Executive Officer

Date: April 11, 2000

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