<PAGE>
The attached three pages, that were inadvertently left off by our EDGAR
service provider, should be added to the 10-K submission dated March 31, 1997.
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, 1996 Commission File Number 0-26778
APPLIED MICROSYSTEMS CORPORATION
(Exact name of registrant as specified in its charter)
----------------
Washington 91-1074996
(State of incorporation) (I.R.S. Employer Identification Number)
5020 148th Avenue N.E. 98052
Redmond, Washington (Zip Code)
(Address of principal executive offices)
(206) 882-2000
(Registrant's telephone number, including area code)
----------------
Securities registered pursuant to Section 12(b) of the Act:
None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, Par Value $.01 Per Share
(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. / /
The aggregate market value of the Common Stock held by non-affiliates of
the registrant, based on the closing price on March 20, 1997, as reported on
NASDAQ, was $32,017,369. (1)
The number of shares of the registrant's Common Stock outstanding as of
March 20, 1997, was 6,713,120.
(1) Excludes shares held of record on that date by directors, officers
and greater than 10% shareholders of the registrant. Exclusion of such shares
should not be construed to indicate that any such person directly or
indirectly possesses the power to direct or cause the direction of the
management of the policies of the registrant.
<PAGE>
11. GEOGRAPHIC INFORMATION
The Company is engaged in one line of business: the design, manufacture, and
marketing of specialized test instruments and software for the microprocessor
industry. Certain financial information of operations by geographic area is
provided in the table below based on the location of the Company's facilities.
Sales are not recognized for financial statement purposes until there has been a
sale to an unaffiliated customer.
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
-------------------------
1996 1995 1994
------- ------ -------
(IN THOUSANDS)
<C> <C> <C> <C>
Net Sales:
United States............................................... $22,615 $17,839 $15,400
Japan....................................................... 12,842 10,412 7,661
Europe...................................................... 3,205 2,788 2,602
------- ------- -------
Consolidated net sales...................................... $38,662 $31,039 $25,663
------- ------- -------
------- ------- -------
Export Sales to unaffiliated customers...................... $2,367 $ 1,917 $ 1,556
------- ------- -------
------- ------- -------
Income(Loss) before income taxes:
United States............................................... $5,900 $ 2,778 $ 734
Japan....................................................... 266 183 32
Europe...................................................... (214) (413) (591)
Corporate elimination's..................................... (654) (789) (77)
------- ------- -------
Consolidated income before income tax....................... $5,298 $ 1,759 $ 98
------- ------- -------
------- ------- -------
Identifiable assets:
United States............................................... $24,071 $21,638 $9,043
Japan....................................................... 5,225 3,888 3,554
Europe...................................................... 1,528 1,320 1,414
------- ------- -------
Consolidated assets......................................... $30,824 $26,846 $14,011
------- ------- -------
------- ------- -------
</TABLE>
42
<PAGE>
12. Quarterly Financial Information (unaudited)
Summarized quarterly financial information for 1996 and 1995 is as follows:
<TABLE>
<CAPTION>
1996
-----------------------------------------------
MAR. 31 JUNE 30 SEPT. 30 DEC. 31
------- ------- -------- -------
<S> <C> <C> <C> <C>
FOR THE QUARTERS ENDED:
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Net sales....................................... $8,704 $9,750 $9,711 $10,496
Gross profit.................................... 6,147 6,944 7,101 7,677
Net Income...................................... 702 996 967 1,052
Earnings per share:
Net income...................................... $0.10 $0.14 $0.14 $0.15
Weighted average common shares and equivalents.. 7,083 7,106 7,128 7,094
Market price per share:
High....................................... $12.75 $20.75 $23.875 $23.75
Low........................................ 7.75 9.00 11.25 9.00
</TABLE>
<TABLE>
<CAPTION>
1995
-----------------------------------------------
MAR. 31 JUNE 30 SEPT. 30 DEC. 31
------- ------- -------- -------
<S> <C> <C> <C> <C>
FOR THE QUARTERS ENDED:
(IN THOUSANDS, EXCEPT PER SHARE DATA)
Net sales...................................... $7,227 $7,670 $7,828 $8,314
Gross profit................................... 4,958 5,306 5,444 5,801
Net Income..................................... 86 306 452 610
Earnings per share:
Net income...................................... $0.02 $0.06 $0.08 $0.10
Weighted average common shares and equivalents.. 5,471 5,471 5,578 6,398
Market price per share:
High....................................... -- -- -- $10.75
Low........................................ -- -- -- 6.75
</TABLE>
43
<PAGE>
9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
None.
Part III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
The information required by this Item is contained in part in the sections
captioned "Board of Directors--Nominees for Director" and "Voting Securities
and Principal Holders--Exchange Act Compliance" in the Proxy Statement for the
Company's Annual Meeting of Stockholders scheduled to be held on May 30, 1997,
and such information is incorporated herein by reference.
The remaining information required by this Item is set forth as Item 4A in
Part I of this report under the caption "Executive Officers of the Registrant."
ITEM 11. EXECUTIVE COMPENSATION
The information required by this Item is incorporated by reference to the
information contained in the section captioned "Compensation and Benefits" of
the Proxy Statement for the Company's Annual Meeting of Stockholders scheduled
to be held on May 30, 1997.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The information required by this Item is incorporated by reference to the
information contained in the sections captioned "Voting Securities and Principal
Holders" and "Compensation and Benefits--Certain Transactions" of the Proxy
Statement for the Company's Annual Meeting of Stockholders scheduled to be held
on May 30, 1997.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The information required by this Item is incorporated by reference to the
information contained in the section captioned "Compensation and
Benefits--Certain Transactions" of the Proxy Statement for the Company's Annual
Meeting of Stockholders scheduled to be held on May 30, 1997.
44
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of
Seattle, State of Washington, on March 31, 1997.
APPLIED MICROSYSTEMS CORPORATION
By /s/ A. James Beach
---------------------------------------------
A. James Beach
Chief Financial Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report has been signed by the following persons on behalf of the Registrant
and in the capacities and on the dates indicated.
<TABLE>
<CAPTION>
SIGNATURE TITLE DATE
<S> <C> <C>
/s/ Robert L. Deinhammer President, Chief Executive Officer and
- ---------------------------------- Director (Principal Executive Officer) March 31, 1997
Robert L. Deinhammer
/s/ A. James Beach Vice President, Chief Financial Officer, March 31, 1997
- ---------------------------------- Secretary and Treasurer (Principal Financial
A. James Beach and Accounting Officer)
/s/ Anthony Miadich Chairman of the Board March 31, 1997
- ----------------------------------
Anthony Miadich
/s/ Elwood D. Howse, Jr. Director March 31, 1997
- ----------------------------------
Elwood D. Howse, Jr.
/s/ David E. Stitt Director March 31, 1997
- ----------------------------------
David E. Stitt
/s/ Paul N. Risinger Director March 31, 1997
- ----------------------------------
Paul N. Risinger
</TABLE>
-47-
