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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
Amendment No. 1
(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 30,1997
[ ] 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: 333-17305
International Knife & Saw, Inc.
(Exact name of registrant as specified in its charter)
Delaware 57-0697252
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1299 Cox Avenue
Erlanger, Kentucky 41018
(Address of principal executive offices)
(606) 371-0333
(Registrant's telephone number, including area code)
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 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 __
As of July 31, 1997, there were 481,971 shares of the registrant's common stock
outstanding, all of which were owned by an affiliate of the registrant.
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This amendment to the Quarterly Report on Form 10-Q of International Knife &
Saw, Inc. for the quarterly period ended June 30, 1997 (the "Original Form
10-Q") amends and modifies the Original Form 10-Q as follows:
Item 2 of Part I, Management's discussion and analysis of financial
condition and results of operations is amended by the amendment of the
second paragraph under the caption "Second quarter and six months ended
June 30, 1997 compared to second quarter and six months ended June 30,
1996" in the section entitled "Results of Operations," which is restated as
follows:
Item 2. Management's discussion and analysis of financial condition and
results of operations
Gross Profit: Gross profit increased to $11.1 and $20.7 million for the
second quarter and first half of 1997 up from $8.7 and $17.9 million for the
same periods in 1996. Excluding the second quarter acquisitions, gross profit
increased to $9.2 and $18.8 million from the same periods in 1996. Gross margin
stayed constant at 29.6% for the second quarter of 1997 compared to the second
quarter of 1996 while gross margin increased to 30.5% in the first half of 1997
compared to 30.0% in the first half of 1996. The Company experienced gross
profit improvements in its North American and other operations primarily
attributable to the second quarter acquisitions which accounted for $1.2 million
and $.7 million of North America's and other operations' second quarter and
first half of 1997 gross profit, respectively. Excluding the second quarter
acquisitions, gross profit for the North American operations increased to $6.8
and $14.1 million for the second quarter and first half of 1997, respectively,
from $6.2 and $13.1 million for the same periods in 1996 and gross margin
increased slightly to 30.5% and 31.8% from 29.7% and 31.0% for the same periods
in 1996. Excluding the Rolf Meyer acquisition, gross profit for the Company's
other operations increased to $2.4 and $4.7 million for the second quarter and
first half of 1997, respectively, from $2.3 and $4.0 million for the same
periods in 1996, while gross margin also increased to 28.9% and 28.1% from 27.7%
and 22.7% for the same periods in 1996.
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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.
INTERNATIONAL KNIFE & SAW, INC.
By: William M. Schult
William M. Schult
Vice President-Finance, Chief
Financial Officer, Treasurer and
Secretary (Principal Financial and
Accounting Officer
August 19, 1997
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