<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____
FORM 10-Q/A
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended April 4, 1999
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 1-5450
THE WACKENHUT CORPORATION
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Florida 59-0857245
- ---------------------------------------- -----------------------------------
(State of incorporation or organization) (I.R.S. Employer Identification No.)
4200 Wackenhut Drive #100, Palm Beach Gardens, FL 33410-4243
- ------------------------------------------------- ----------
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (561) 622-5656
- ------------------------------------------------------------------------------
FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED
SINCE LAST REPORT.
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 [ ]
At May 17, 1999, 3,855,582 shares of Series A were issued and outstanding and
11,075,874 shares of Series B of the registrant's Common Stock was outstanding
after deducting 201,492 shares held in treasury.
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THE WACKENHUT CORPORATION AND SUBSIDIARIES
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
The Company is presently, and is from time to time, subject to claims arising
in the ordinary course of its business. In certain of such actions plaintiffs
request punitive or other damages that may not be covered by insurance. In the
opinion of management, the various asserted claims and litigation in which the
Company is currently involved will not materially affect its financial position
or future operating results, although no assurance can be given with respect to
the ultimate outcome from any such claims or litigation.
ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS
Not applicable.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
Not applicable.
ITEM 5. OTHER INFORMATION
Not applicable.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a). Exhibits -
Exhibit 27 - Restated Financial Data Schedule (for SEC use only)
(b). Reports on Form 8-K
The Company did not file a Form 8-K during the first quarter of 1999.
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THE WACKENHUT CORPORATION AND SUBSIDIARIES
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Quarterly Report on Form 10-Q for the thirteen
weeks ended April 4, 1999 to be signed on its behalf by the undersigned
hereunto duly authorized.
THE WACKENHUT CORPORATION
DATE: May 20, 1999 /s/ Philip L. Maslowe
----------------------------------
Philip L. Maslowe,
SENIOR VICE PRESIDENT AND
CHIEF FINANCIAL OFFICER
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND STATEMENT OF INCOME AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO FORM 10-Q FOR THE THIRTEEN WEEKS APRIL 4, 1999.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-04-1999
<PERIOD-START> JAN-03-1999
<PERIOD-END> APR-04-1999
<CASH> 39
<SECURITIES> 23<F1>
<RECEIVABLES> 186
<ALLOWANCES> 5
<INVENTORY> 16
<CURRENT-ASSETS> 273<F2>
<PP&E> 64
<DEPRECIATION> 21
<TOTAL-ASSETS> 460
<CURRENT-LIABILITIES> 168
<BONDS> 7
0
0
<COMMON> 2
<OTHER-SE> 150
<TOTAL-LIABILITY-AND-EQUITY> 460<F3>
<SALES> 0
<TOTAL-REVENUES> 500
<CGS> 0
<TOTAL-COSTS> 492
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1
<INCOME-PRETAX> 8
<INCOME-TAX> 3
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 4<F4>
<EPS-PRIMARY> 0.27
<EPS-DILUTED> 0.26
<FN>
<F1>MARKETABLE SECURITIES ARE CLASSIFIED AS NON-CURRENT ASSETS ON THE BALANCE SHEET.
<F2>INCLUDES $15 MILLION OF OTHER CURRENT ASSETS.
<F3>INCLUDES $53 MILLION RESERVE FOR LOSSES OF CASUALTY REINSURANCE SUBSIDIARY, $47
MILLION MINORITY INTEREST, $17 MILLION DEFERRED REVENUE AND $17 MILLION OTHER
LIABILITIES.
<F4>INCLUDES MINORITY INTEREST AND EQUITY INCOME OF FOREIGN AFFILIATES -- NET OF
INCOME TAXES OF $(2) MILLION AND $2 MILLION RESPECTIVELY.
</FN>
</TABLE>
