SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
QUARTERLY REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarter ended December 27, 1997
Commission File Number 23103
APPLIED FILMS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Colorado 84-1311581
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
6797 Winchester Circle, Boulder, Colorado 80301
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 530-1411
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 ____ No __X__
3,476,437 shares of Common Stock were outstanding as of January 31, 1998.
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APPLIED FILMS CORPORATION AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited)
Three Months Ended Six Months Ended
----------------------------- ---------------------------
December 28, December 27, December 28, December 27,
1996 1997 1996 1997
<S> <C> <C> <C> <C>
Net Sales ......................... $ 7,806 $ 13,173 $ 14,085 $ 24,424
Cost of Goods Sold ................ $ 6,593 $ 10,588 $ 11,828 $ 19,389
-------- -------- -------- --------
Gross Profit ...................... $ 1,213 $ 2,585 $ 2,257 $ 5,035
Selling, General and Administrative $ 642 $ 1,109 $ 1,186 $ 2,095
Research and Development Expenses . $ 115 $ 287 $ 307 $ 617
-------- -------- -------- --------
Income from Operations ............ $ 456 $ 1,189 $ 764 $ 2,323
Other Income (Expense):
Gain (loss) on foreign currency
exchange ......................... $ 36 $ 21 $ 47 $ 33
Interest Expense .................. ($ 200) ($ 87) ($ 451) ($ 257)
Other Income (Expense) ............ ($ 2) $ 8 ($ 6) $ 19
-------- -------- -------- --------
Income before income taxes ........ $ 290 $ 1,131 $ 354 $ 2,118
Income Tax Provision .............. ($ 79) ($ 385) ($ 96) ($ 713)
-------- -------- -------- --------
Net Income ........................ $ 211 $ 746 $ 258 $ 1,405
======== ======== ======== ========
Primary and Fully Diluted
Net Income (Loss) Per Share ...... $ 0.07 $ 0.23 $ 0.09 $ 0.45
======== ======== ======== ========
Weighted Average Common Shares
Outstanding ...................... 2,853 3,250 2,853 3,157
======== ======== ======== ========
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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 behalf of the undersigned
thereunto duly authorized.
APPLIED FILMS CORPORATION
/s/ Cecil VanAlsburg
Date: February 13, 1998 Cecil VanAlsburg
Chairman, Chief Executive Officer and President
/s/ Thomas D. Schmidt
Date: February 13, 1998 Thomas D. Schmidt
Chief Financial Officer
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