<PAGE>   1
================================================================================

                                   FORM 10-Q/A
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                 Amendment No. 1

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

For the quarterly period ended July 4, 1999

                                       OR

[ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

For the transition period from ____________ to _____________

                          Commission File No.: 0-14685

                               GENICOM CORPORATION
             (Exact name of registrant as specified in its charter)

                DELAWARE                                          51-0271821
    (State or other jurisdiction of                            (I.R.S. Employer
     incorporation or organization)                          Identification No.)

     14800 CONFERENCE CENTER DRIVE
         SUITE 400, WESTFIELDS
          CHANTILLY, VIRGINIA                                       20151
(Address of principal executive offices)                          (Zip Code)

       Registrant's telephone number, including area code: (703) 802-9200

     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 and (2) has been subject to such filing
requirements for the past 90 days. Yes X  No
                                      ---   ---
     As of July 30, 1999, there were 11,683,174 shares of Common Stock of the
Registrant outstanding.

REASON FOR AMENDMENT

     The undersigned registrant hereby amends in its entirety Part I of its
quarterly report on Form 10-Q for the quarterly period ended July 4, 1999.

     The Company has restated its first and second quarter financial statements
based on the results of a physical count of its service finished goods business
inventory in October 1999. The restatement has caused the Company to be in
non-compliance throughout 1999 with certain covenants and payment provisions of
its credit agreement, and accordingly all outstanding borrowings under the
credit agreement have been classified as a current liability. See notes 2 and 7
to the financial statements included herein.

================================================================================
<PAGE>   2
                                FORM 10-Q/A INDEX

                         PART I - FINANCIAL INFORMATION


<TABLE>
<S>                                                                                            <C>
Item 1.     Financial Statements

            Consolidated Balance Sheets - July 4, 1999 (Restated) and January 3, 1999                 3

            Consolidated Statements of Operations - Three and Six Months Ended
              July 4, 1999 (Restated) and June 28, 1998                                               4

            Consolidated Statements of Cash Flows - Three and Six Months Ended
              July 4, 1999 (Restated) and June 28, 1998                                               5

            Notes to Consolidated Financial Statements (Restated)                                6 - 10

Item 2.     Management's Discussion and Analysis of Financial Condition
              and Results of Operations (Restated)                                              11 - 16

Item 3.     Market Risk                                                                              17

                           PART II - OTHER INFORMATION

Item 1.     Legal Proceedings                                                                        17

Item 2.     Changes in Securities                                                                    17

Item 3.     Defaults Upon Senior Securities                                                          17

Item 4.     Submission of Matters to a Vote of Security Holders                                 17 - 18

Item 5.     Other Information                                                                        18

Item 6.     Exhibits and Reports on Form 8-K                                                         18

Signatures                                                                                           19

Index to Exhibits                                                                                   E-1
</TABLE>


                                     PAGE 2
<PAGE>   3
                         PART I. - FINANCIAL INFORMATION

Item 1.   Financial Statements

                      GENICOM CORPORATION AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                        JULY 4,          JANUARY 3,
(In thousands, except share data)                                        1999                1999
                                                                     -----------          ----------
                                                                     (UNAUDITED)
                                                                      (RESTATED)
<S>                                                                 <C>                   <C>
ASSETS
CURRENT ASSETS:
    Cash and cash equivalents                                       $      8,228          $    4,894
    Accounts receivable, less allowance for
        doubtful accounts of $5,141 and $5,716                            78,514              83,893
    Other receivables                                                        340               2,714
    Inventories (note 2)                                                  45,864              59,617
    Prepaid expenses and other assets                                     13,126              12,664
                                                                     -----------           ----------
        TOTAL CURRENT ASSETS                                             146,072             163,782
Property, plant and equipment, net                                        45,784              45,459
Goodwill                                                                  14,218              15,965
Intangibles and other assets                                               5,891               4,771
                                                                     -----------           ----------
                                                                    $    211,965          $  229,977
                                                                     ===========           ==========

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
    Current portion of long-term debt (note 7)                      $    108,620          $    7,936
    Accounts payable and accrued expenses                                 60,920              67,096
    Deferred income                                                       13,412              13,344
                                                                     -----------           ----------
        TOTAL CURRENT LIABILITIES                                        182,952              88,376
Long-term debt, less current portion                                                         105,000
Other non-current liabilities                                             11,863              11,984
                                                                     -----------           ----------
        TOTAL LIABILITIES                                                194,815             205,360
                                                                     -----------           ----------
STOCKHOLDERS' EQUITY:
    Common stock, $0.01 par value; 18,000,000 shares
        authorized, 11,646,040 and 11,581,661 shares issued
        and outstanding, respectively                                        116                 116
    Additional paid-in capital                                            30,465              29,216
    Accumulated deficit                                                  (10,510)             (2,039)
    Accumulated other comprehensive loss                                  (2,921)             (2,676)
                                                                     -----------           ----------
        TOTAL STOCKHOLDERS' EQUITY                                        17,150              24,617
                                                                     -----------           ----------
                                                                    $    211,965          $  229,977
                                                                     ===========           ==========
</TABLE>


The accompanying notes are an integral part of these financial statements.


                                     PAGE 3
<PAGE>   4
                      GENICOM CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                   THREE MONTHS ENDED,              SIX MONTHS ENDED,
                                                                  JULY 4,       JUNE 28,        JULY 4,        JUNE 28,
(In thousands, except per share data)                              1999           1998            1999           1998
                                                                ----------      ---------      ----------      ---------
                                                                (RESTATED)                     (RESTATED)
<S>                                                           <C>             <C>            <C>             <C>
REVENUES, NET:
    Products                                                  $    66,671     $   74,681     $   129,833     $  155,012
    Services                                                       35,444         37,369          72,671         79,148
                                                                ----------      ---------      ----------      ---------
                                                                  102,115        112,050         202,504        234,160
                                                                ----------      ---------      ----------      ---------

OPERATING COSTS AND EXPENSES:
    Cost of revenues:
       Products                                                    49,287         53,691          94,134        110,651
       Services                                                    28,997         35,017          60,676         72,753
       Service inventory adjustment (note 2)                          977                          3,653
    Selling, general and administration                            18,695         21,782          38,502         42,053
    Engineering, research and
       product development                                          4,315          4,099           8,382          8,424
   Write-off of goodwill                                                          15,000                         15,000
                                                                ----------      ---------      ----------      ---------
                                                                  102,271        129,589         205,347        248,881
                                                                ----------      ---------      ----------      ---------

OPERATING LOSS                                                       (156)       (17,539)         (2,843)       (14,721)
Interest expense, net                                               2,937          2,737           5,615          5,330
                                                                ----------      ---------      ----------      ---------

LOSS BEFORE INCOME TAXES                                           (3,093)       (20,276)         (8,458)       (20,051)
Income tax (benefit) expense                                         (106)        (5,470)             13         (5,414)
                                                                ----------      ---------      ----------      ---------

NET LOSS                                                      $    (2,987)    $  (14,806)    $    (8,471)    $  (14,637)
                                                                ==========      =========      ==========      =========

Loss per common share (basic)                                 $     (0.26)    $    (1.28)    $     (0.73)    $    (1.27)
                                                                ==========      =========      ==========      =========

Loss per common share (diluted)                               $     (0.26)    $    (1.28)    $     (0.73)    $    (1.27)
                                                                ==========      =========      ==========      =========

Weighted average number of  common shares
   outstanding (basic)                                             11,642         11,555          11,626         11,510
                                                                ==========      =========      ==========      =========

Weighted average number of common shares
   and dilutive shares (diluted)                                   11,642         11,555          11,626         11,510
                                                                ==========      =========      ==========      =========
</TABLE>


The accompanying notes are an integral part of these financial statements.


                                     PAGE 4
<PAGE>   5
                      GENICOM CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                     SIX MONTHS ENDED,
                                                                   JULY 4,      JUNE 28,
(In thousands)                                                      1999         1998
                                                                 ----------     --------
                                                                 (RESTATED)
<S>                                                             <C>             <C>
Cash flows from operating activities:
    Net loss                                                    $   (8,471)    $(14,637)
    Adjustments to reconcile net loss to cash provided
      by operating activities:
        Depreciation                                                 6,800        7,116
        Amortization                                                 3,542        4,274
        Service inventory adjustment (note 2)                        3,653
        Write-off of goodwill                                                    15,000
        Changes in assets and liabilities:
              Accounts receivable                                    8,503        4,637
              Inventories                                           11,769       (1,330)
              Accounts payable and accrued expenses                 (8,801)      (4,470)
              Deferred income                                           68       (1,534)
              Other                                                   (953)      (4,834)
                                                                 ----------     --------
NET CASH PROVIDED BY OPERATING ACTIVITIES                           16,110        4,222
                                                                 ----------     --------

Cash flows from investing activities:
    Additions to property, plant and equipment                      (8,297)     (12,110)
    Other investing                                                    (92)      (1,638)
                                                                 ----------     --------
NET CASH USED IN INVESTING ACTIVITIES                               (8,389)     (13,748)
                                                                 ----------     --------

Cash flows from financing activities:
    Borrowings on long-term debt                                    11,409       21,613
    Payments on long-term debt                                     (15,725)      (7,792)
    Bank overdraft                                                               (2,172)
    Financing costs                                                    (94)         (73)
                                                                 ----------     --------
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES                 (4,410)      11,576
                                                                 ----------     --------

Effect of exchange rate changes on cash and cash equivalents            23         (123)
                                                                 ----------     --------

Net increase in cash and cash equivalents                            3,334        1,927
Cash and cash equivalents at beginning of period                     4,894        4,622
                                                                 ----------     --------
Cash and cash equivalents at end of period                      $    8,228     $  6,549
                                                                 ==========     ========
</TABLE>

The accompanying notes are an integral part of these financial statements


                                     PAGE 5
<PAGE>   6
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.   FINANCIAL STATEMENTS

     In the opinion of management, the accompanying unaudited consolidated
     financial statements of GENICOM Corporation and subsidiaries (the "Company"
     or "GENICOM") contain all adjustments (consisting only of normal recurring
     accruals) necessary to present fairly the Company's consolidated financial
     position as of July 4, 1999, and the results of operations and cash flows
     for the periods indicated. Certain information and footnote disclosures
     normally included in financial statements prepared in accordance with
     generally accepted accounting principles have been condensed or omitted. It
     is suggested that these condensed consolidated financial statements be read
     in conjunction with the financial statements and notes thereto included in
     the Company's January 3, 1999 Annual Report on Form 10-K. The results of
     operations for the six months ended July 4, 1999, are not necessarily
     indicative of the operating results to be expected for the full year.

2.   1999 INVENTORY ADJUSTMENTS AND QUARTERLY RESTATEMENTS

     During October 1999, the Company conducted a physical count of the
     Enterprising Solutions Service company ("ESSC") parts and supplies finished
     goods inventory. During its reconciliation of the physical count to its
     perpetual inventory records, the Company discovered discrepancies that
     occurred undetected in the first and second quarters of 1999 associated
     with the internal transfer of parts among various locations within the
     Company. These discrepancies have the effect of increasing ESSC's cost of
     revenue and operating loss $2.7 million and $1.0 million for the first and
     second quarters of 1999, respectively. The Company's unaudited consolidated
     financial statements for the second quarter and six months of 1999 have
     been restated as follows:


<TABLE>
<CAPTION>
                                       Quarter Ended                      Six Months Ended
                                        July 4, 1999                        July 4, 1999
                              ---------------------------------    ------------------------------
                                  Reported          Restated         Reported         Restated
                              ----------------   --------------    -------------    -------------
<S>                           <C>                <C>               <C>              <C>
Operating income (loss)       $           821    $        (156)    $        810     $     (2,843)
Net loss                      $        (2,010)   $      (2,987)    $     (4,818)    $     (8,458)
Net loss per common share     $         (0.17)   $       (0.26)    $      (0.41)    $      (0.73)


<CAPTION>
                                           As of
                                        July 4, 1999
                              ---------------------------------
                                  Reported          Restated
                              ----------------   --------------
<S>                           <C>                <C>
Inventory                     $        49,517    $      45,864
Accumulated deficit           $        (6,857)   $     (10,510)
</TABLE>


3.   INVENTORIES

     Inventories are stated at the lower of cost, determined on the first-in,
     first-out method, or market. Inventories consist of, in thousands:


                                     PAGE 6
<PAGE>   7
<TABLE>
<CAPTION>
                           JULY 4,            JANUARY 3,
                            1999                1999
                      -----------------   ----------------
                         (RESTATED)
<S>                   <C>                 <C>
Raw materials         $          4,634    $         4,086
Work in process                    814                930
Finished goods                  40,416             54,601
                      -----------------   ----------------
                      $         45,864    $        59,617
                      =================   ================
</TABLE>


4.          EARNINGS PER SHARE

            Earnings per share are based upon the weighted average number of
            common shares and dilutive common share equivalents (using the
            treasury stock method) outstanding during the period.


<TABLE>
<CAPTION>
                                                         Three Months Ended July 4, 1999
                                                -----------------------------------------------
                                                   Loss              Shares         Per Share
                                                --------------   -------------    -------------
<S>                                             <C>              <C>              <C>
BASIC EPS                                       (Restated)                          (Restated)

Loss available to shareholders                  $      (2,987)         11,642     $      (0.26)

Weighted shares from stock options
                                                --------------   -------------    -------------
DILUTED EPS                                     $      (2,987)         11,642     $      (0.26)
                                                --------------   -------------    -------------

<CAPTION>
                                                         Three Months Ended June 28, 1998
                                                -----------------------------------------------
                                                   Loss              Shares         Per Share
                                                --------------   -------------    -------------
<S>                                             <C>              <C>              <C>
BASIC EPS

Loss available to shareholders                  $     (14,806)         11,555     $      (1.28)

Weighted shares from stock options
                                                --------------   -------------    -------------
DILUTED EPS                                     $     (14,806)         11,555     $      (1.28)
                                                --------------   -------------    -------------

<CAPTION>
                                                          Six Months Ended July 4, 1999
                                                -----------------------------------------------
                                                   Loss             Shares          Per Share
                                                --------------   -------------    -------------
<S>                                             <C>              <C>              <C>
BASIC EPS                                       (Restated)                          (Restated)
Loss available to shareholders                  $      (8,471)         11,626     $      (0.73)

Weighted shares from stock options
                                                --------------   -------------    -------------
DILUTED EPS                                     $      (8,471)         11,626     $      (0.73)
                                                --------------   -------------    -------------

<CAPTION>
                                                          Six Months Ended June 28, 1998
                                                -----------------------------------------------
                                                   Loss             Shares          Per Share
                                                --------------   -------------    -------------
<S>                                             <C>              <C>              <C>
BASIC EPS

Loss available to shareholders                  $     (14,637)         11,510     $      (1.27)

Weighted shares from stock options
                                                --------------   -------------    -------------
DILUTED EPS                                     $     (14,637)         11,510     $      (1.27)
                                                --------------   -------------    -------------
</TABLE>


     For the three months ended July 4, 1999 and June 28, 1998, 273,000 and
     1,041,000 equivalent shares, respectively, have been omitted due to their
     antidilutive nature. For the six months ended July 4, 1999 and June 28,
     1998, 365,000 and 1,147,000 equivalent shares, respectively, have been
     omitted due to their antidilutive nature.


                                     PAGE 7
<PAGE>   8
5.   SEGMENT INFORMATION

     The Company operates in the serial, line and page printer business where it
     designs, manufactures and markets printers as well as the related supplies
     and spare parts (Document Solutions company). The Company's operation in
     services provides customers with a full range of network information
     technology services with field services, depot repair, parts and logistics
     and network products (Enterprising Service Solutions company). Revenue
     between industry segments is not material.


<TABLE>
<CAPTION>
                                              Six Months Ended or As of
                                            July 4,              June 28,
(in thousands)                               1999                  1998
                                       -----------------     ----------------
                                          (Restated)

<S>                                   <C>                   <C>
REVENUE
Document Solutions                    $         129,833     $        155,012
Enterprising Service Solutions                   72,671               79,148
                                       -----------------     ----------------
                                      $         202,504     $        234,160
                                       -----------------     ----------------

OPERATING (LOSS) INCOME
Document Solutions                    $           4,086     $          2,074
Enterprising Service Solutions                   (6,929)             (16,795)
                                       -----------------     ----------------
                                      $          (2,843)    $        (14,721)
                                       -----------------     ----------------

DEPRECIATION AND AMORTIZATION
Document Solutions                    $           2,777     $          3,416
Enterprising Service Solutions                    6,054                7,204
Corporate and other                               1,511                  770
                                       -----------------     ----------------
                                      $          10,342     $         11,390
                                       -----------------     ----------------

ASSETS
Document Solutions                    $          98,906     $        129,387
Enterprising Service Solutions                   77,329               81,532
Corporate and other                              35,730               32,067
                                       -----------------     ----------------
                                      $         211,965     $        242,986
                                       -----------------     ----------------

CAPITAL EXPENDITURES
Document Solutions                    $           1,783     $          2,007
Enterprising Service Solutions                    3,999                6,937
Corporate and other                               2,515                3,166
                                       -----------------     ----------------
                                      $           8,297     $         12,110
                                       -----------------     ----------------
</TABLE>


6.   COMMITMENTS AND CONTINGENCIES

     Environmental matters:

     The Company and the former owner of its Waynesboro, Virginia facility,
     General Electric Company ("G.E."), have generated and managed hazardous
     wastes at the facility for many years as a result of their use of certain
     materials in manufacturing processes. The Company and the United States
     Environmental Protection Agency ("EPA") have agreed to a corrective action
     consent order (the "Order"), which became effective on September 14, 1990.
     The Order requires the Company to undertake an investigation of solid waste
     management units at its Waynesboro, Virginia facility and to conduct a
     study of any necessary corrective measures that may be required. The
     investigative work under the Order was completed in December 1997 and the
     Company submitted a final investigative report to the EPA. During the
     second quarter of 1999, the EPA requested additional investigative work
     which the Company anticipates completing during the first quarter of 2000.
     Although not required by the Order, the Company has installed and is
     operating an interim groundwater stabilization system. Annual operational
     expenses for the system are currently approximately $57,000. The interim
     groundwater stabilization program may be chosen as the final remedy for the
     site, or additional corrective measures may eventually be required. It is
     not possible to reliably estimate the costs that any such possible
     additional corrective measures would


                                     PAGE 8
<PAGE>   9
     entail. However, if additional corrective measures are required, the
     Company expects that it will enter into discussion with the EPA concerning
     their scope and a further order for that purpose.

     The Company has been notified by the EPA that it is one of 700 potentially
     responsible parties ("PRPs") under the Comprehensive Environmental
     Response, Compensation and Liability Act of 1980, for necessary corrective
     action at a hazardous waste disposal site in Greer, South Carolina. In
     prior years, the Company arranged for the transportation of wastes to the
     site for treatment or disposal. During 1995, the PRPs entered into an
     administrative consent order with EPA under which they would undertake a
     remedial investigation and feasibility study. That study is currently
     underway. The Company has not had and does not anticipate any material
     expenditures in connection with this matter.

     Other matters:

     In the ordinary course of business, the Company is party to various
     environmental, administrative and legal proceedings. In the opinion of
     management, the Company's liability, if any, in all pending litigation or
     other legal proceedings, other than those discussed above, will not have a
     material effect upon the financial condition, results of operations or
     liquidity of the Company.

7.   DEBT

     Due to the restatement of the Company's first and second quarter 1999
     unaudited consolidated financial statements (see note 2), the Company was
     in not in compliance with certain provisions of its credit facility as of
     the end of the first and second quarters of 1999. At July 4, 1999, due to
     the inventory restatements, the Company had borrowed in excess of its
     borrowing base approximately $0.4 million. All of the outstanding
     borrowings under the credit agreement have been classified as current
     liabilities at the end of the second quarter of 1999.

     The Company is in negotiations with the lenders concerning its
     non-compliance with certain provisions and possible remedies. These
     remedies could include waivers, forbearance, or restructuring of the debt.
     The Company is experiencing liquidity problems and has vendors in a past
     due position. Continued losses and an absence of lender support, will cause
     additional liquidity concerns and have a material adverse effect on the
     Company's ability to continue as a going concern.

     If the Company's current credit facility is refinanced or the outstanding
     balance is declared by the lender to be payable on demand, the remaining
     unamortized deferred financing costs of $4.8 million as of July 4, 1999
     associated with this credit facility will be adjusted in the period of
     refinancing or when the debt is declared payable.

8.   COMPREHENSIVE INCOME

     The Company's loss, if reported on a comprehensive basis, would be as
     follows:

<TABLE>
<CAPTION>
                                          Three Months Ended                          Six Months Ended
                               ----------------------------------------  ---------------------------------------
                                    July 4,              June 28,             July 4,             June 28,
                                      1999                 1998                 1999                1998
                               -------------------  -------------------  -------------------  ------------------
                                   (Restated)                                (Restated)
<S>                            <C>                  <C>                  <C>                  <C>
Reported loss                  $           (2,987)  $          (14,806)  $           (8,471)  $         (14,637)
Foreign currency translation                 (196)                (212)                (245)               (105)
Tax benefit                                                        (53)                                     (26)
                               -------------------  -------------------  -------------------  ------------------
Comprehensive loss             $           (3,183)  $          (14,965)  $           (8,716)  $         (14,716)
                               -------------------  -------------------  -------------------  ------------------
</TABLE>


                                     PAGE 9
<PAGE>   10
9.   NEW ACCOUNTING PRONOUNCEMENTS

     In June 1998, the Financial Accounting Standards Board issued Statement of
     Financial Accounting Standards No. 133, "Accounting for Derivative
     Instruments and Hedging Activities." This Statement requires that an entity
     recognize all derivatives as either assets or liabilities in the balance
     sheet and measure those instruments at fair value. The Company will be
     required to adopt this new accounting standard in the third fiscal quarter
     of 2000. Management does not anticipate early adoption. The Company
     believes that the effect of adoption of SFAS No. 133 will not be material.


                                    PAGE 10
<PAGE>   11
Item 2.     Management's Discussion and Analysis of Results of Operations and
            Financial Condition:

Amounts in this discussion and analysis have been restated as disclosed in note
2 of the unaudited consolidated financial statements.

                              RESULTS OF OPERATIONS


<TABLE>
<CAPTION>
===================================================================================================================================
                                                          THREE MONTHS ENDED                             SIX MONTHS ENDED
                                            ------------------------------------------    ------------------------------------------
                                               2ND QTR.                       2ND QTR.       2ND QTR.                     2ND QTR.
(in millions)                                    1999          CHANGE          1998           1999          CHANGE          1998
------------------------------------------------------------------------------------------------------------------------------------
<S>                                         <C>             <C>             <C>           <C>            <C>              <C>
Revenues - Enterprising Service Solutions   $      35.4    $      (2.0)     $     37.4    $      72.7    $      (6.5)     $     79.2

Revenues - Document Solutions                      66.7           (8.0)           74.7          129.8          (25.2)          155.0
                                            -----------     ----------      ----------    -----------    -----------      ----------
Total Revenues                              $     102.1    $     (10.0)     $    112.1    $     202.5    $     (31.7)     $    234.2
                                            -----------     ----------      ----------    -----------    -----------      ----------
Percentage change                                                 (8.9)%                                       (13.5)%
===================================================================================================================================
</TABLE>


Revenue in the second quarter of 1999 decreased 8.9% from the second quarter of
1998 primarily due to lower supply sales related to the Texas Instruments and
Digital low-end installed printer base that has significantly declined since the
second quarter of 1998, lower off-site repair revenue due to a decision to close
the Fort Worth depot and exit the express parts business which were low margin
businesses, and the effect of the decline in the value of the EURO and related
currencies on prices in Europe. Documents Solutions ("DSC") revenue was 10.7%
lower than the second quarter of 1998 principally as a result of the supply
sales mentioned above and the decline in the value of the EURO. Enterprising
Service Solutions ("ESSC") revenue decreased 5.2% from the prior year quarter.
The decrease in ESSC revenue was principally due to the lower off-site revenue
partially offset by higher Canadian service revenue.

Revenue for the six months ended July 4, 1999 was 13.5% lower than the first six
months of 1998. This was due primarily to the reasons mentioned above and in
1998, ESSC had substantial revenues in the first quarter from a contract with
NASDAQ.

Digital branded printer and supply sales have softened over the past nine
months. Although broader product lines have been introduced, Compaq Computer
Corporation's acquisition of Digital has required a migration from Digital to
Compaq branding, realignment of channels and changes in the business
relationship. The Company has been authorized to sell products under the Compaq
brand, but is unable to predict the effect the changes in brand name and sales
channel could have on sales to Compaq or to Compaq's customers. The Company is
currently in discussions with Compaq concerning changes in the terms of the
contract governing their relationship.

<TABLE>
<CAPTION>
==================================================================================================================================
                                                         THREE MONTHS ENDED                           SIX MONTHS ENDED
                                               ----------------------------------------     -------------------------------------
                                                 (Restated)                                 (Restated)
                                                  2ND QTR.                     2ND QTR.       2ND QTR.                   2ND QTR.
(in millions)                                     1999           CHANGE        1998           1999         CHANGE          1998
----------------------------------------------------------------------------------------------------------------------------------
<S>                                            <C>             <C>           <C>            <C>          <C>           <C>
Gross margin - Enterprising Service Solutions  $       5.4     $       3.0   $      2.4     $      8.3   $       1.9   $      6.4
Gross margin - Document Solutions                     17.4            (3.6)        21.0           35.7          (8.7)        44.4
                                               ----------------------------------------------------------------------------------
Total gross margin                             $      22.8     $      (0.6)  $     23.4     $     44.0   $      (6.8)  $     50.8
                                               -----------     -----------   ----------     ----------   -----------   ----------
As a % of revenue                                     22.3 %                       20.8 %         21.7 %                     21.7 %
==================================================================================================================================
</TABLE>


Gross margin, as a percent of revenue, increased from 20.8% in the second
quarter of 1998 to 22.3% in the second quarter of 1999. As a percent of revenue,
gross margin for DSC declined to 26.1% in the second quarter of 1999 from 28.1%
in the second quarter of 1998. DSC's gross margin percentage decrease was
basically the result of a change in sales mix with a reduction in supply sales,
the higher than normal sales of pass though products at very


                                    PAGE 11
<PAGE>   12
low margin and the weak EURO in Europe. For ESSC, gross margin increased from
6.3% for the second quarter of 1998 to 15.4% for 1999. The gross margin
improvement was principally the result of better operating efficiencies in both
off-site and on-site service in the U.S.

For the first six months of 1999, gross margin as a percent of revenue, remained
flat as compared to 1998. DSC's gross margin was lower by 1.6% due to the
reasons mentioned above. ESSC's gross margin was higher by 6.4% principally due
to the better operating efficiencies in the U.S., partially offset by the effect
of inventory adjustments.

<TABLE>
<CAPTION>
=================================================================================================================================
                                           THREE MONTHS ENDED                                     SIX MONTHS ENDED
                               ----------------------------------------------    ------------------------------------------------
                               2ND QTR.                           2ND QTR.         2ND QTR.                          2ND QTR.
(in millions)                    1999             CHANGE            1998             1999              CHANGE          1998
---------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>              <C>              <C>              <C>              <C>              <C>
Operating expenses:

Selling, general and
    administrative             $        18.7    $        (3.1)   $        21.8    $        38.5    $        (3.6)   $        42.1
Engineering, research and
    product development                  4.3              0.2              4.1              8.4              0.0              8.4
Write-off of goodwill                                   (15.0)            15.0                             (15.0)            15.0
                               -------------    -------------    -------------    -------------    -------------    -------------
Total                          $        23.0    $       (17.9)   $        40.9    $        46.9    $       (18.6)   $        65.5

As a % of revenue                       22.5 %                            36.5 %           23.2 %                            28.0 %
=================================================================================================================================
</TABLE>

The decrease of $17.9 million in operating expenses from the second quarter of
1998 was primarily a result of a write-off of goodwill in 1998 and cost controls
implemented in 1999. This decrease was partially offset by higher benefit costs
and depreciation related to the Company's new business systems.

The decrease in operating expenses for the first six months of 1999 as compared
to 1998 was a one-time write-off of goodwill in 1998, lower marketing expenses
in ESSC due to adjustments to the sales force in early 1998 after the
acquisition of Novadyne Computer Systems in late 1997 and cost controls
implemented in 1999. This decrease was partially offset by consulting expenses
related to the amending of the Company's credit agreement with NationsBank of
Texas, N.A., increased benefit costs, and higher depreciation expenses related
to the Company's new business systems.

<TABLE>
<CAPTION>
================================================================================================================================
                                       THREE MONTHS ENDED                                       SIX MONTHS ENDED
                        -------------------------------------------------        -----------------------------------------------
                           2ND QTR.                              2ND QTR.          2ND QTR.                             2ND QTR.
(in millions)              1999                CHANGE            1998               1999              CHANGE            1998
--------------------------------------------------------------------------------------------------------------------------------

<S>                       <C>                  <C>               <C>               <C>                <C>               <C>
Interest expense, net     $    2.9             $  0.2            $   2.7           $   5.6            $   0.3           $   5.3

Percentage change                                 7.4 %                                                   5.7 %
================================================================================================================================
</TABLE>

Interest expense increased $0.2 million in the second quarter of 1999 compared
to the same period a year ago due to costs associated with the Company's
amendment to its credit agreement. Debt levels did not differ significantly
compared to the second quarter of 1998. Interest expense is expected to remain
at the second quarter level through the third quarter of 1999 due to
amortization of bank fees from the amendment of the Company's credit agreement
(see "Banking Arrangements"). Interest expense for the first six months of 1999
was $0.3 million higher than the same period in 1998 due to the bank fees
mentioned above.


                                    PAGE 12
<PAGE>   13
<TABLE>
<CAPTION>
=============================================================================================================
                                  THREE MONTHS ENDED                                SIX MONTHS ENDED
                      ------------------------------------------     ----------------------------------------
                       2ND QTR.                       2ND QTR.        2ND QTR.                     2ND QTR.
(in millions)            1999           CHANGE          1998            1999         CHANGE          1998
-------------------------------------------------------------------------------------------------------------

<S>                   <C>              <C>           <C>              <C>           <C>             <C>
Income tax benefit     $   (0.1)        $   5.4       $   (5.5)        $    0.0      $  5.4         $   (5.4)

Effective tax rate          4.7%                          27.0%             0.0%                        27.0%

=============================================================================================================
</TABLE>

During the second quarter of 1999, the Company provided a full valuation
allowance against the domestic deferred tax assets created as the result of the
Company's current operating loss consistent with its review at the end of 1998
of the recoverability of its deferred tax assets. The recorded tax benefit was
related to foreign losses, partially offsetting earlier foreign income tax
expense. During the second quarter of 1998, the tax rate was affected by the
anticipated partial utilization of fully reserved foreign operating losses and
the tax benefits associated with the goodwill write-off. For the first six
months of 1999, deferred tax assets were fully offset by a valuation allowance
compared to 1998 when a tax benefit was recorded related to the write-off of
goodwill.

LIQUIDITY AND CAPITAL RESOURCES

<TABLE>
<CAPTION>
===============================================================================
                                                           SIX MONTHS ENDED
                                                  -----------------------------
(in millions)                                       2ND QTR.          2ND QTR.
                                                      1999              1998
-------------------------------------------------------------------------------

<S>                                                 <C>              <C>
Cash provided by operations                         $   16.1         $    4.2

Cash used in investing activities                       (8.4)           (13.7)

Cash (used in) provided by financing activities         (4.4)            11.6

===============================================================================
</TABLE>

<TABLE>
<CAPTION>
===============================================================================
                                         (RESTATED)
(in millions)                           2ND QUARTER               4TH QUARTER
                                           1999                        1998
-------------------------------------------------------------------------------

<S>                                    <C>                       <C>
Working capital                        $    (36.9)               $    75.4

Inventories                                  45.9                     59.6

Debt obligations                            108.6                    112.9

Debt to equity ratio                     6.3 to 1                 4.6 to 1

===============================================================================
</TABLE>

Cash provided by operations was $16.1 million for the first six months of 1999
compared to $4.2 million in the first half of 1998. The increase in cash from
operations was principally due to the decreases in inventory (excluding the
inventory adjustment) and accounts receivable partially offset by the Company's
operating loss. The Company's working capital decreased $112.3 million as of
July 4, 1999, as compared to January 3, 1999 due primarily to the following: a
reclassification of debt to current debt; a $10.1 million decrease in inventory
(excluding the inventory adjustment) resulting from the Company's inventory
reduction program; a $6.2 million decrease in accounts payable; a $7.8 million
decrease in trade and other accounts receivable directly related to the
Company's lower revenue, and a $3.3 million increase in cash, primarily in
Europe. Debt decreased from


                                    PAGE 13
<PAGE>   14
December 1998. This decrease was required as the Company's borrowing base
relating to the revolving credit line declined with the reductions to inventory
and accounts receivable. This reduction of borrowing base was partially offset
by a liquidity facility available in April 1999. In early April, the Company
drew on its new liquidity facility to fund current liabilities (see "Banking
Arrangements"). As of July 4, 1999, the revolving credit facility exceeded the
borrowing base formula due to the inventory restatement.

BANKING ARRANGEMENTS

The Company has credit facilities with Bank of America, N.A., as agent for a
group of lenders. When put in place in early 1996, maximum availability under
the credit facilities was $75 million. The commitments under the facilities were
increased to $125 million in late 1997. As of the end of the second quarter of
fiscal 1999, the commitments had decreased to $116 million. Loans under this
agreement have been used to fund operations, capital expenditures, and
acquisitions. These facilities are secured by substantially all of the Company's
assets. They are comprised of two term loans aggregating $55 million, with
maturity dates in 2002 and 2004, and a revolving credit line of $70 million (now
reduced to $61 million) maturing in September, 2002. Connected to the facilities
is an interest rate swap which fixes the interest rate on approximately $37.5
million of the facility at approximately 8.5%. The interest rate on the balance
of the facility is based on LIBOR plus a certain percentage based on Company
performance.

In 1998, the Company and the lender group amended the facilities several times .
These amendments were necessary because the Company was unable to meet certain
of the financial covenants in the agreement and required adjustments to the
agreement to allow the Company to increase availability under the existing
credit line for working capital purposes. The amendments included adjusting the
financial covenants until the end of 1998, limiting capital expenditures to a
maximum of $27 million for 1998, adjusting borrowing base percentages through
February 15, 1999 (allowing the Company increased borrowing ability) and
adjusting the interest rate upwards 1.50% on the incremental increased borrowing
against the higher base.

In February 1999, a further amendment to the credit agreement took effect. This
amendment retained the increased borrowing base percentages through April 5,
1999. The Company also pledged 65% of the shares in the Company's Canadian
subsidiary as additional collateral.

On April 2, 1999, an additional amendment ("Amendment 7") to the credit
agreement was put in place. It extended the increased borrowing base percentages
until June 2000 and changed the financial covenants relating to 1) minimum
earnings before charges for interest, state, federal and municipal income taxes,
depreciation, and amortization ("EBITDA"), 2) minimum net worth requirements,
and 3) 1999 capital expenditures, which were limited to approximately $19
million. The lenders also made available an additional $10 million for short
term liquidity purposes. This amount, to the extent borrowed, is due on
September 30, 1999 or the due date can be extended at the Company's option on a
quarterly basis for a fee of 0.5% of the liquidity facility outstanding. The
interest rate on the revolver and the additional $10 million is 3.5% above LIBOR
on Eurodollar loans. The Company drew $10 million on the liquidity facility in
April 1999.

As consideration for Amendment 7, the Company agreed to pay an amendment fee of
$1.2 million upon the earlier of the prepayment in full of the credit facilities
or the acceleration of the Company's obligations to repay the loans. This fee
has been accrued. The Company has also agreed to pay a continuation fee on the
last day of each fiscal quarter beginning with the fourth quarter of fiscal year
1999 until the obligations are paid. The continuation fee is 0.5% of all
obligations outstanding on the last day of each such fiscal quarter. As further
consideration, the Company pledged 65% of the shares in several foreign
subsidiaries as additional collateral. The lenders also received warrants to
purchase one million shares of GENICOM common stock at $1.94 per share. The
warrants are callable through March 31, 2000 under certain conditions and cannot
be exercised before then. Amendment 7 reduced the lenders' revolving credit
commitments to $62 million at the end of the first fiscal quarter of 1999, $61
million at the end of the second fiscal quarter of 1999, $58 million at the end
of the third fiscal quarter of 1999, and $52 million at the end of fiscal 1999.
The amount outstanding under the revolver and liquidity facility at July 4, 1999
was $58.7 million.


                                    PAGE 14
<PAGE>   15
Due to the first and second quarter 1999 restatement of the inventory, the
Company was not in compliance with loan covenant and payment provisions of its
credit facility from the end of the first quarter of 1999 (see note 2 to the
Company's unaudited consolidated financial statements).

As of November 1999, the Company is in negotiations with the lenders concerning
its non-compliance and possible remedies. These remedies could include waivers,
forbearances, or restructuring of the debt. The Company is also experiencing
liquidity problems and has several vendors in a past due position. Continued
losses and an absence of lender support, will cause additional liquidity
concerns and have a material adverse effect on the Company's ability to continue
as a going concern.

If the Company's current credit facility is refinanced or the outstanding
balance is declared by the lender to be payable on demand, the remaining
unamortized deferred financing costs of $4.8 million as of July 4, 1999
associated with this credit facility will be adjusted in the period of
refinancing or when the debt is declared payable.

YEAR 2000

GENICOM is taking an active approach to address computer issues associated with
the onset of the new Millennium - specifically, the impact of the possible
failure of computer systems and computer driven equipment due to the digit
rollover to the year 2000. The Year 2000 problem is pervasive and complex as
virtually every IT and non-IT system could be affected in some way by the
rollover of the two-digit year value from 99 to 00. The issue is whether
computer systems or embedded technology will properly recognize date sensitive
information when the year changes to 2000. IT and non-IT systems that do not
properly recognize such information could generate erroneous data or cause
failures.

If not properly addressed, the Year 2000 problem could result in failures in
Company computer systems or items with embedded systems, or the computer systems
or equipment of third parties with whom the Company deals worldwide. Any such
failures of the Company's and/or third parties' IT and non-IT systems could have
a material impact on the Company's ability to conduct business.

Since 1996, the Company has been identifying and seeking to minimize its
exposure to the Year 2000 problem. In 1996, the Company began expending
significant funds under contracts with EDS to replace the majority of its
internal computer system. During this process, the Company has required third
party vendors to make representations that the components of the new systems and
related software are Year 2000 compliant. The replacement equipment was
scheduled to be completely installed and tested by early December 1999. The
Company believed its worst case would be addressed with the new systems. Due to
performance issues with the new system, certain aspects of the project have been
delayed until after the end of 1999 and the contingency plan was implemented.
This plan is directed at insuring that its remaining major systems which have
not yet been replaced are Year 2000 compliant. Based up the representations of
the Company's vendor, this work is scheduled and expected to be completed and
the systems tested by the middle of December 1999. The programs which are not
modified for Year 2000 compliance are not expected to have a material impact on
the operations of the Company. As a result, the Company does not anticipate Year
2000 problems will materially affect its operations. The approximately $18-$20
million cost of the replacement system is being capitalized by the Company. The
Company has incurred approximately $17.2 million through July 4, 1999 associated
with this replacement system.

Management has also considered whether the Year 2000 problem will affect the
products or services provided by the Company to its customers. Because the
Company's printer products do not contain date sensitive embedded software and
do not manipulate, calculate, convert, compare, sequence or present any date
data, these products should not present Year 2000 compliance issues. The Company
does, through its Enterprising Service Solutions company, resell and install
computer software that could be susceptible to Year 2000 problems. The Company's
practice is to disclaim responsibility for Year 2000 compliance relating to
third party software.

At this time, GENICOM is actively working to ensure that foreseeable Year 2000
computer problems related to Company computer systems and products are
effectively addressed. The Company does not expect that the


                                    PAGE 15
<PAGE>   16
commitment of resources to study and correct internally any Year 2000 problems
to result in the delay of its projects or product development.

The Company has generally completed reviewing vendor and customer compliance as
well as items that may be affected by embedded systems such as manufacturing and
telephone equipment. The review included inquiries of vendors and customers
related to their Year 2000 compliance. As a result of this review, the Company
believes no material expenditures will be required at this time related to
customer and vendor compliance.

The Company cannot estimate or predict the potential adverse consequences, if
any, that could result from a third party failure to effectively address this
issue or failure of certain equipment and is unable to predict if those parties'
noncompliance or equipment failure will have a material adverse effect on
earnings.

EURO CONVERSION

On January 1, 1999, the exchange rates of eleven countries (Germany, France, the
Netherlands, Austria, Italy, Spain, Finland, Ireland, Belgium, Portugal, and
Luxembourg) were fixed among one another and became the currencies of the EURO.
The individual currencies of the eleven countries will remain in circulation
until mid-2002. The EURO currency will be introduced on January 1, 2002. The
Company does not expect future balance sheets and statements of earnings and
cash flows to be materially impacted by the EURO conversion.

FORWARD LOOKING INFORMATION

GENICOM provides an array of services and products addressing different niches
of the information processing industry, competing against a wide range of
companies from large multinationals to small domestic entrepreneurs. Except for
the historical information contained herein, the matters discussed in this 10Q
include forward-looking statements that involve a number of risks and
uncertainties. Terms such as "believes", "expects", "plans", "intends",
"estimates", or "anticipates", and variations of such words and similar
expressions are intended to identify such forward looking statements. There are
certain important factors and risks, including the change in hardware and
software technology, economic conditions in the North American, Western European
and Asian markets, the anticipation of growth of certain market segments and the
positioning of the Company's products and services in those segments, certain
service customers whose business is declining, seasonality in the buying cycles
of certain of the Company's customers, the timing of product announcements, the
release of new or enhanced products and services, the introduction of
competitive products and services by existing or new competitors, access to and
development of product rights and technologies, the management of growth, the
Company's cash needs, GENICOM's ability to attract and retain highly skilled
technical, managerial and sales and marketing personnel, possible litigation
related to the Company's operations, including litigation arising under various
environmental laws, and the other risks detailed from time to time in the
Company's SEC reports, including reports on Form 10K, that could cause results
to differ materially from those anticipated by the statements contained herein.


                                    PAGE 16
<PAGE>   17
                               Item 3. Market Risk

The Company is exposed to the impact of interest rate and foreign currency risk.
In the normal course of business, the Company employs established policies and
procedures to manage its exposure to changes in interest rates and fluctuations
in the value of foreign currencies using a variety of financial instruments.

The Company's objective in managing its exposure to interest rate changes is to
limit the impact of interest rate changes on earnings and cash flows and to
lower its overall borrowings costs. To achieve its objectives, the Company
primarily uses an interest rate swap to manage net exposure to interest rate
changes related to its credit facility.

International revenues from the Company's foreign subsidiaries were
approximately 34% of total revenue. International sales are made mostly from the
Company's foreign subsidiaries in their respective countries and are typically
denominated in the local currency of each country. These subsidiaries also incur
most of their expenses in the local currency. Accordingly, all foreign
subsidiaries use the local currency as their functional currency.

The Company's international business is subject to risks typical of an
international business including, but not limited to, differing economic
conditions, changes in political climate, differing tax structures, other
regulations and restrictions, and foreign exchange rate volatility. Accordingly,
the Company's future results could be materially adversely impacted by changes
in these or other factors.

The Company's exposure to foreign exchange rate fluctuations arises in part from
intercompany accounts in which costs incurred in the United States are charged
to the Company's foreign subsidiaries. The Company is also exposed to foreign
exchange rate fluctuations as the financial results of foreign subsidiaries are
translated into U.S. dollars in consolidation. As exchange rates vary, those
results, when translated, may vary from expectations and adversely impact
overall expected profitability.

                          PART II. - OTHER INFORMATION

Item 1.   Legal Proceedings:

Not applicable.

Item 2.   Changes in Securities:

Not applicable

Item. 3   Defaults Upon Senior Securities:

Not applicable.

Item 4.   Submission of Matters to a Vote of Security Holders:

a) The Company's annual meeting of stockholders was held May 19, 1999.

c) At said annual meeting, stockholders elected the Company's four directors,
   amended the Company's 1997 Stock Option Plan, and approved the appointment
   of PricewaterhouseCoopers L.L.P. as the Company's independent accountants.


                                    PAGE 17
<PAGE>   18
            Directors

<TABLE>
<CAPTION>
          Director                Votes for              Withheld            Broker Non-Votes
<S>                           <C>                     <C>                       <C>
Don E. Ackerman               8,992,425               50,377                     0
John Hill                     8,995,039               47,763                     0
Abraham Ostrovsky             8,995,039               47,763                     0
Paul T. Winn                  8,991,000               51,802                     0
</TABLE>

            Stock Option Plan

<TABLE>
<CAPTION>
                                                           Abstentions or
         Votes for               Votes against             Broker Non-Votes
         ---------               -------------             ----------------
         <S>                       <C>                       <C>
         2,404,072                 1,090,325                  5,548,405
</TABLE>
            Accountants


<TABLE>
<CAPTION>
                                                           Abstentions or
           Votes for             Votes against             Broker Non-Votes
           ---------             -------------             ----------------
          <S>                     <C>                       <C>
           8,742,069                236,793                     63,939
</TABLE>

Item 5. Other Information:

Not applicable

Item 6.  Exhibits and Reports on Form 8-K:

      (a)         Exhibits

<TABLE>
<CAPTION>
    NUMBER                 DESCRIPTION
    ------------------     ---------------------------------
<S>                        <C>
    27.1                   Financial Data Schedule (Restated)
</TABLE>

      (b)         Reports on Form 8-K:

                  Not applicable



                                    PAGE 18
<PAGE>   19
                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                          GENICOM Corporation
                                   ------------------------------------
                                               Registrant

Date:  November 24, 1999

                                           /s/James C. Gale
                                   ------------------------------------
                                                Signature

                                James C. Gale
                                Senior Vice President Finance and
                                Chief Financial Officer

                                (Mr. Gale is the Chief Financial
                                Officer and has been duly
                                authorized to sign on behalf of the
                                Registrant)


                                    PAGE 19
<PAGE>   20
                      GENICOM CORPORATION AND SUBSIDIARIES

                        INDEX TO EXHIBITS TO FORM 10-Q/A

                   FOR THE QUARTERLY PERIOD ENDED JULY 4, 1999

<TABLE>
<CAPTION>
EXHIBIT
NUMBER                DESCRIPTION                            PAGE
------------------    ------------------------------------   ------------
<S>                   <C>                                    <C>
27.1                  Financial Data Schedule (Restated)     Filed only
                                                             with EDGAR version
</TABLE>



                                      E-1