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Previous: COTELLIGENT GROUP INC, S-1/A, 1996-11-15 |
Next: NATIONAL FINANCIAL AUTO FUNDING TRUST, 424B5, 1996-11-15 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q/A
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 1996
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 0-25372
COTELLIGENT GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 94-3173918
(State of other jurisdiction (I.R.S. Employer
incorporation or organization) Identification No.)
101 California Street, Suite 2050
San Francisco, California 94111
(Address of principal executive offices) (Zip Code)
(415) 439-6400
(Registrant's telephone number, including area code)
N/A
(Former name, former address and former fiscal year,
if changed since last report)
Indicates 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
At August 9, 1996, there were 7,308,614 shares of common stock
outstanding.
- 1 -
<PAGE>
<PAGE>
<TABLE>
COTELLIGENT GROUP, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In Thousands Except Share & Per Share Amounts)
(Unaudited)
<CAPTION>
Pro Forma Pro Forma
Quarter Ended Quarter Ended Quarter Ended Quarter Ended
June 30, 1995 June 30, 1996 June 30, 1995 June 30, 1996
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Revenues....................................... $3,552 $22,813 $18,333 $22,813
Cost of services............................... 2,284 16,612 13,607 16,612
------ ------- ------- -------
Gross margin........................... 1,268 6,201 4,726 6,201
Non-recurring transaction costs................ - 245 - -
Selling, general and administrative expenses... 1,123 4,852 3,733 4,749
------ ------- ------- ------
Operating income....................... 145 1,104 993 1,452
Other (income) expense:
Interest expense.......................... 16 78 89 64
Interest income........................... (1) (130) (16) (130)
Other..................................... (3) (3) (20) (3)
------ ------- -------- -------
Total other............................ 12 (55) 53 (69)
------ ------- -------- -------
Income before provision for income taxes....... 133 1,159 940 1,521
Provision for income taxes..................... - 1,240 377 578
------ ------- -------- -------
Net income (loss).............................. $ 133 $ (81) $ 563 $ 943
====== ======= ======== =======
Net income (loss) per share (Note 4)............................ $ (0.01) $ 0.08 $ 0.13
======= ======= =======
Pro forma net income (adjusted for income tax - Note 5)......... $ 718
=======
Pro forma net income per share (adjusted for income tax)........ $ 0.10
=======
Weighted average shares outstanding............................. 7,519,360 7,519,360 7,519,360
========= ========= =========
<FN>
The accompanying notes are an integral part of these consolidated financial statements.
</FN>
</TABLE>
- 4 -
<PAGE>
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.
COTELLIGENT GROUP, INC
Date: August 13, 1996 By : /s/ Curtis J. Parker
------------------- ---------------------
Curtis J. Parker
Vice President and
Chief Accounting Officer
- 13 -
<PAGE>
EXHIBIT INDEX
NUMBER EXHIBIT PAGE
None
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
(000's)
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 3-Mos
<FISCAL-YEAR-END> Mar-31-1997
<PERIOD-START> Apr-01-1996
<PERIOD-END> Jun-30-1996
<CASH> 9654
<SECURITIES> 0
<RECEIVABLES> 15998
<ALLOWANCES> 70
<INVENTORY> 0
<CURRENT-ASSETS> 26790
<PP&E> 3443
<DEPRECIATION> 1546
<TOTAL-ASSETS> 28971
<CURRENT-LIABILITIES> 9712
<BONDS> 0
0
0
<COMMON> 73
<OTHER-SE> 18449
<TOTAL-LIABILITY-AND-EQUITY> 28971
<SALES> 22813
<TOTAL-REVENUES> 22813
<CGS> 16612
<TOTAL-COSTS> 4749
<OTHER-EXPENSES> (3)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 64
<INCOME-PRETAX> 1521
<INCOME-TAX> 578
<INCOME-CONTINUING> 943
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 943
<EPS-PRIMARY> 0.13
<EPS-DILUTED> 0
</TABLE>
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