I need to convert dynamic date variable &CUR_SAT_DT format MDYY to format YYMD.

Try using EDIT function followed by concatenating in desired format.

Try below code.

-SET &CUR_SAT_DT=05252012;
-RUN
TABLE FILE EMPLOYEE
PRINT
FIRST_NAME
COMPUTE D_FMT_1/MDYY=&CUR_SAT_DT;
COMPUTE D_FMT_2/YYMD=D_FMT_1;
END

Also refer to below techniques.
http://www.informationbuilders...elopers/WF_MetaDates
http://www.informationbuilders...r/ParameterDatePrint

Or use the DATECVT function.

You will find all you need to know about dates and their conversions in the (almost) 1001 Ways to Work with Dates - covers through release 8

Both the ebook and hard copies provide a ton of information and examples! www.aviter.com

Vivian