UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended July 1, 1994
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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: 0-22138
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Triangle Pacific Corp.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
94-2998971
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(I.R.S. Employer Identification No.)
16803 Dallas Parkway, Dallas, Texas 75248
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(Address of principal executive offices) (Zip Code)
(214) 931-3000
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(Registrant's telephone number, including area code)
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(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. [X] Yes [ ] No
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.
14,661,329 Shares on July 1, 1994
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
INDEX
PART I FINANCIAL INFORMATION Page No.
Item 1. Financial Statements
Consolidated Statements of Operations
for the six months ended July 1, 1994 and July 2, 1993 and
for the three months ended July 1, 1994 and July 2, 1993 4
Consolidated Balance Sheets
July 1, 1994 and December 31, 1993 5
Consolidated Statements of Cash Flows
for the six months ended July 1, 1994 and July 2, 1993 7
Consolidated Statement of Changes in
Shareholders' Investment for the six months
ended July 1, 1994. 8
Notes to Consolidated Financial Statements 9
Item 2. Management's Discussion and Analysis of
Financial Condition and Results
of Operations 12
PART II OTHER INFORMATION 17
SIGNATURES 18
PART I FINANCIAL INFORMATION
Item I. Financial Statements
Triangle Pacific Corp. and Subsidiary
Consolidated Financial Statements
for the Six Months ended July 1, 1994
The consolidated financial statements included herein have been prepared by
the Company without audit. They contain all adjustments which are, in the
opinion of the management, necessary to a fair statement of the results of the
operations for the interim periods. The operating results for the interim
periods are not necessarily indicative of results to be expected for a full
year. It is suggested that these consolidated financial statements be read in
conjunction with the consolidated financial statements and the notes thereto,
included in the Company's Form 10-K as of December 31, 1993.
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except earnings per share data)
Six Months Ended Three Months Ended
-------------------- -------------------
July 1, July 2, July 1, July 2,
1994 1993 1994 1993
-------- -------- -------- --------
Net sales $ 197,628 $ 166,335 $ 106,918 $ 87,853
-------- -------- -------- --------
Costs and expenses
Cost of sales 146,098 127,556 77,471 67,021
Selling, general
and administrative 27,720 22,546 14,607 10,915
Amortization of goodwill 760 810 380 405
Interest 9,522 9,901 4,625 5,006
-------- -------- -------- --------
184,100 160,813 97,083 83,347
-------- -------- -------- --------
Income before income taxes 13,528 5,522 9,835 4,506
Provision for income taxes 5,526 2,232 3,975 1,589
-------- -------- -------- --------
Net income $ 8,002 $ 3,290 $ 5,860 $ 2,917
======== ======= ======== ========
Net income per share $ 0.55 $ 0.47 $ 0.40 $ 0.43
======== ======== ======== ========
Weighted average shares
outstanding 14,657 6,708 14,661 6,708
Pro-forma income data:
Net income 8,002 3,290 $ 5,860 $ 2,917
Pro-forma adjustments re: 1993
recapitalization - 424 - 323
-------- -------- -------- --------
Pro-forma net income $ 8,002 $ 3,714 $ 5,860 $ 3,240
======== ======== ======== ========
Pro-forma net income per share $ 0.55 $ 0.25 $ 0.40 $ 0.22
======== ======== ======== ========
Weighted average shares
outstanding 14,657 14,645 14,661 14,645
The accompanying notes to consolidated financial statements are an integral
part of these statements.
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
(in thousands)
July 1, December 31,
1994 1993
ASSETS --------- ------------
Current assets:
Cash and cash equivalents $ 13,791 $ 785
Receivables (net of allowances
of $2,404 and $3,323 respectively) 48,743 39,454
Inventories 63,091 64,072
Prepaid expenses 4,824 4,273
-------- --------
Total current assets 130,449 108,584
-------- --------
Property, plant and equipment
Land 13,673 13,452
Buildings 43,226 43,382
Equipment, furniture and fixtures 74,469 65,759
-------- --------
131,368 122,593
Less: accumulated depreciation 17,165 13,171
-------- --------
114,203 109,422
Other assets:
Goodwill 59,820 60,580
Trademark 30,333 30,733
Other 13,666 11,654
Deferred financing costs 7,424 8,126
-------- --------
Total assets $ 355,895 $ 329,099
======== ========
The accompanying notes to consolidated financial statements are an integral
part of these balance sheets.
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS (Continued)
(in thousands)
July 1, December 31,
1994 1993
LIABILITIES AND SHAREHOLDERS' INVESTMENT --------- ------------
Current liabilities:
Current portion of long-term debt $ 1,573 $ 1,467
Accounts payable 17,965 13,336
Accrued liabilities 25,173 19,699
Income taxes payable 4,992 -
-------- --------
Total current liabilities 49,703 34,502
-------- --------
Long-term debt, net of current portion 169,058 162,897
-------- --------
Deferred income taxes 41,044 43,653
-------- --------
Total liabilities 259,805 241,052
-------- --------
Shareholders' investment:
Common stock - $.01 par value, authorized shares
- 30,000,000 issued and outstanding shares
14,661,329 at July 1, 1994 and 14,647,607 at
December 31, 1993 147 146
Additional paid-in capital 93,094 93,054
Retained earnings (deficit):
Post June 8, 1992 2,849 (5,153)
-------- --------
Total shareholders' investment 96,090 88,047
-------- --------
Total liabilities and shareholders' investment $ 355,895 $ 329,099
======== ========
The accompanying notes to consolidated financial statements are an integral
part of these balance sheets.
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Six Months Ended
--------------------
July 1, July 2,
1994 1993
Cash flows from operating activities: -------- --------
Net income $ 8,002 $ 3,290
Adjustments:
Depreciation 3,994 3,911
Deferred income taxes (2,609) 571
Amortization of goodwill and trademark 1,160 1,210
Amortization of deferred financing costs 716 -
Amortization of original issue discount - 812
Provision for doubtful accounts 402 321
Changes in assets and liabilities:
Receivables (8,949) (9,135)
Inventories 1,387 (10,775)
Prepaid expenses (525) (1,315)
Other assets 1,917 1,927
Accounts payable 4,479 1,757
Accrued liabilities 4,110 269
Accrued liabilities - interest 785 2,351
Income taxes payable 4,992 1,617
Deferred compensation - (1,969)
-------- --------
Net cash provided by (used in) operating activities 19,861 (5,158)
-------- --------
Cash flows from investing activities:
Additions to property, plant & equipment (6,174) (2,013)
Construction deposits (1,852) (2,168)
Acquisition of Premier Wood Floors (5,123) -
-------- --------
Net cash used in investing activities (13,149) (4,181)
-------- --------
Cash flows from financing activities:
Long-term debt borrowings 7,000 10,000
Long-term debt payments (733) (707)
Exercise of stock options 41 -
Refinancing costs (14) -
-------- --------
Net cash provided by financing activities 6,294 9,293
-------- --------
Net increase (decrease) in cash $ 13,006 $ (46)
Cash and cash equivalents, beginning of period 785 547
-------- --------
Cash and cash equivalents, end of period $ 13,791 $ 501
======== ========
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest $ 8,412 $ 6,559
Income taxes 146 45
The accompanying notes to consolidated financial statements are an integral
part of these statements.
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' INVESTMENT
FOR THE SIX MONTHS ENDED JULY 1, 1994
(in thousands)
Additional Retained
Common Paid-In Earnings
Stock Capital (Deficit) Total
------- ------- --------- -------
Balance,
December 31, 1993 $ 146 $ 93,054 $ (5,153) $ 88,047
Net income - - 8,002 8,002
Exercise of stock
options 1 40 - 41
------- ------- ------- -------
Balance,
July 1, 1994 $ 147 $ 93,094 $ 2,849 $ 96,090
======= ======= ======= =======
The accompanying notes to consolidated financial statements are an integral
part of this statement.
TRIANGLE PACIFIC CORP. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1 - 1993 RECAPITALIZATION:
The Company filed, in August 1993, two registration statements with the
Securities and Exchange Commission and sold to the public 7,939,750 shares of
the Company's Common Stock and $160 million aggregate principal amount of 10-
1/2% Senior Notes due 2003 ("the Offerings"). The net proceeds of the
Offerings together with borrowings under a new $90 million bank credit
facility (the "New Credit Facility") were used (i) to repay the entire unpaid
balance under the Company's previously-existing senior debt financing
agreements, redeem certain previously outstanding debentures and pay related
accrued interest, for a total of approximately $227 million, and (ii) for
working capital and general corporate purposes. As a result of this repayment
of debt the Company incurred an extraordinary loss of $11.3 million, net of
tax, which was recorded in the third quarter of 1993, as a result of the
original issue discount on certain of the repaid notes as well as the premium
required to redeem the debentures.
On June 14, 1993, the Company's Board of Directors approved a
reclassification pursuant to which each share of Series A Common Stock was
changed and converted into .67 of a share of Common Stock. The transaction
became effective upon completion of the Offerings described above and has been
reflected retroactively in the accompanying consolidated financial statements.
Pro-forma figures for the periods on the Consolidated Statements Of
Operations assume that the Offerings occurred on the first day of fiscal 1993.
NOTE 2 -INVENTORIES:
Inventories are valued at the lower of cost or market. The last-in,
first-out (LIFO) method is used for certain lumber inventories and the first-
in, first-out (FIFO) method is used for all other inventories. Inventories
valued by the LIFO method were $18,369,000 at July 1, 1994 and $23,965,000 at
December 31, 1993. Had all inventories been valued by the FIFO method, which
approximates current cost, inventories would have been increased by $5,138,000
at July 1, 1994 and December 31, 1993. Raw materials inventories include
purchased parts and supplies to be used in manufactured products. Work-in-
process and finished goods inventories include material, labor and overhead
costs incurred in the manufacturing process. The major components of
inventories are as follows (in thousands):
July 1, December 31,
1994 1993
-------- ------------
Raw materials $ 31,513 $ 42,045
Work-in-process 2,954 3,125
Finished goods 28,624 18,902
-------- --------
Total $ 63,091 $ 64,072
======== ========
NOTE 3 - LONG-TERM DEBT:
Long-term debt consists of the following (in thousands):
July 1, December 31,
1994 1993
-------- -----------
Mortgages payable $ 10,631 $ 4,364
Senior Notes, 10 1/2% due 8-1-2003 160,000 160,000
-------- --------
170,631 164,364
Less: Current portion of long-term debt (1,573) (1,467)
-------- --------
$ 169,058 $ 162,897
======== ========
Letters of credit outstanding at July 1, 1994 and December 31, 1993 were
$9.7 million and $9.8 million, respectively, under a facility pursuant to
which they can be renewed or replaced.
Senior Notes
The Senior Notes are senior unsecured obligations of the Company with an
aggregate principal of $160 million. The Senior Notes mature in 2003 and
bear interest at an annual rate of 10 1/2%, payable semi-annually. The
Senior Notes were issued under an Indenture (the "Indenture") between the
Company and Texas Commerce Trust Company NA, as Trustee (the "Trustee"). The
Senior Notes rank pari passu with all present and future senior indebtedness
of the Company and senior to all present and future subordinated indebtedness
of the Company. However, because borrowings under the New Credit Facility are
secured by inventory and accounts receivable of the Company and the proceeds
thereof, the Senior Notes are effectively subordinated to such borrowings to
the extent of such security interest.
The Senior Notes are not redeemable prior to August 1, 1998. Thereafter,
the Senior Notes are redeemable at the option of the Company at redemption
prices specified in the Indenture. The Senior Notes are not subject to any
mandatory sinking fund requirements.
Upon a "change of control" (as defined in the Indenture), the Company is
required to offer to purchase all outstanding Senior Notes at 101% of the
principal amount thereof, plus accrued interest to the date of repurchase. In
addition, the Company may be required to offer to purchase the Senior Notes at
100% of the principal amount plus accrued interest with the net cash proceeds
of certain sales or other dispositions of assets.
The Indenture contains covenants which restrict, among other things, the
incurrence of additional indebtedness by the Company and its subsidiaries, the
payment of dividends and other distributions in respect of the capital stock
of the Company, the creation of liens on the assets of the Company and its
subsidiaries, the creation of certain restrictions on the payment of dividends
and other distributions by the Company's subsidiaries, the issuance of
preferred stock by the Company's subsidiaries, and certain mergers, sales of
assets and transactions with affiliates.
The Indenture specifies a number of events of default including, among
others, the failure to make timely principal, premium and interest payments or
to perform the covenants contained therein. The Indenture contains a cross-
default to other indebtedness of the Company aggregating more than $5,000,000
and certain customary bankruptcy and insolvency defaults. Upon the occurrence
of an event of default under the Indenture, the Trustee or the holders of not
less than 25% in principal amount of the outstanding Senior Notes may declare
all amounts thereunder immediately due and payable, except that such amounts
automatically become immediately due and payable in the event of a bankruptcy
or insolvency default.
New Credit Facility
The Company has entered into the New Credit Facility, which provides for
up to $90 million of revolving loans for working capital and general corporate
purposes and for letters of credit. Availability of borrowings under the New
Credit Facility is based upon a formula related to inventory and accounts
receivable. At July 1, 1994, the Company had no borrowings under the New
Credit Facility and had $52.1 million of borrowing capacity under this
facility. Borrowings under the New Credit Facility bear interest at the
agent's prime rate plus 1% (8.25% at July 1, 1994) or, at the Company's
option, at certain alternate floating rates and is secured by a pledge of the
Company's inventory and accounts receivable. The New Credit Facility expires
on August 4, 1996.
The New Credit Facility contains covenants which restrict, among other
things, the incurrence of additional indebtedness and rental obligations by
the Company and its subsidiaries, the payment of dividends and other
distributions in respect of the capital stock of the Company, the creation of
liens on the assets of the Company and its subsidiaries, the creation of
certain restrictions on the payment of dividends and other distributions by
the Company's subsidiaries, the making of investments and capital expenditures
by the Company and its subsidiaries, the creation of new subsidiaries by the
Company, and certain mergers, sales of assets and transactions with
affiliates. The New Credit Facility also contains certain financial covenants
relating to the consolidated financial condition of the Company and its
subsidiaries, including covenants relating to their net worth, the ratio of
their earnings to their fixed charges, the ratio of their earnings to their
interest expense, the ratio of their current assets to their current
liabilities, and the ratio of their indebtedness to their total
capitalization. At July 1, 1994, the Company was in compliance with all
financial covenants.
The New Credit Facility specifies a number of events of default
including, among others, the failure to make timely payments of principal,
fees, and interest, the failure to perform the covenants contained therein,
the failure of representations and warranties to be true, the occurrence of a
"change of control" (as defined in the New Credit Facility, to include, among
other things, the ownership by any person or group of more than 25% or, (in
the case of The TCW Group, Inc. and its affiliates, 40%) of the total voting
securities of the Company), and certain impairments of the security for the
New Credit Facility. The New Credit Facility also contains a cross-default to
other indebtedness of the Company aggregating more than $2,000,000 and certain
customary bankruptcy, insolvency and similar defaults. Upon the occurrence of
an event of default under the New Credit Facility, at least three of the
lenders holding at least 60% in amount of the principal indebtedness
outstanding under the New Credit Facility may declare all amounts thereunder
immediately due and payable, except that such amounts automatically become
immediately due and payable in the event of certain bankruptcy, insolvency or
similar defaults.
The New Credit Facility generally prohibits the Company from prepaying
the Senior Notes whether the prepayment would result from the redemption of
the Senior Notes, an offer by the Company to purchase the Senior Notes
following a change of control or a sale or other disposition of assets, or the
acceleration of the due date for payment of the Senior Notes.
Mortgages payable represent various Industrial Revenue Bond (IRB) notes.
In June 1994, the Company entered into an industrial revenue financing
agreement in the amount of $7,000,000 with Mississippi Business Finance Corp.,
a public corporation in Mississippi, to finance the expansion of the Bruce
Hardwood Floors plant in Port Gibson, Mississippi. The funds required were
provided by a bank term loan which matures on June 28, 2001. Collateral for
the loan is the plant and equipment at Port Gibson, Mississippi. The IRB
notes vary in interest rate, with several notes dependent upon the prime rate.
At July 1, 1994 and December 31, 1993 the interest rates ranged up to 9.0%.
These notes are payable through 2001 and are collateralized by the
related underlying assets.
NOTE 4 - INCOME TAXES:
The components of the deferred tax liability and assets are as follows
(in thousands):
July 1, December 31,
1994 1993
-------- -----------
Deferred Tax Liability:
Property, plant and equipment $ 24,728 $ 28,429
Trademark 11,921 12,078
Other 7,054 7,123
-------- --------
$ 43,703 $ 47,630
======== ========
Deferred Tax Asset:
Tax carryforwards $ - $ 1,991
Other 2,660 1,986
-------- --------
$ 2,660 $ 3,977
======== ========
The provision for income taxes consists of the following (in thousands):
Six Months Ended
--------------------
July 1, July 2,
1994 1993
-------- --------
Current:
Federal $ 4,497 $ 1,474
State and local 552 187
-------- -------
$ 5,049 $ 1,661
======== =======
Deferred:
Federal $ 425 $ 507
State and local 52 64
-------- -------
$ 477 $ 571
======== =======
Total $ 5,526 $ 2,232
======== =======
The tax provision for the periods ending July 1, 1994 and July 2, 1993 is
40.9% and 40.4% of pre-tax income, respectively. The factors causing the rate
to vary from the U.S. Federal statutory rate are as follows (in thousands):
Six Months Ended
---------------------
July 1, July 2,
1994 1993
-------- --------
Computed (expected) tax provision $ 4,733 $ 1,877
Increase from:
State and local taxes 582 237
Amortization of goodwill 299 310
Change due to limitation of net
operating loss carryforwards - (215)
Other book to tax differences (net) (88) 23
------- ------
$ 5,526 $ 2,232
======= ======
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
NET SALES
Net sales for the six months ended July 1, 1994 were $197.6 million
compared to $166.3 million for the six months ended July 2, 1993, representing
an 18.8% increase. Net sales for all divisions increased which accounted for
this growth over the same period last year.
Net sales for the three months ended July 1, 1994 were $106.9 million
compared to $87.9 million for the three months ended July 2, 1993,
representing a 21.7% increase. Increased sales occurred in all divisions of
the Company.
GROSS PROFIT
Gross profit for the six months ended July 1, 1994 amounted to $51.5
million, or 26.1% of net sales, compared to $38.8 million, or 23.3% of net
sales, in the same period in fiscal 1993.
Gross profit for the three months ended July 1, 1994 amounted to $29.4
million, or 27.5% of net sales, compared to $20.8 million, or 23.7% of net
sales, in the same period in fiscal 1993.
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
Selling, general and administrative expenses amounted to $27.7 million
for the six months ended July 1, 1994 compared to $22.5 million for the six
months ended July 2, 1993. As a percent of net sales, selling, general and
administrative expenses were 14.0% for the six months ended July 1, 1994
compared to 13.6% for the same period in fiscal 1993.
Selling, general and administrative expenses amounted to $14.6 million
for the three months ended July 1, 1994 compared to $10.9 million for the
three months ended July 2, 1993. As a percent of net sales, selling, general
and administrative expenses were 13.7% for the three months ended July 1, 1994
compared to 12.4% for the same period in fiscal 1993.
OPERATING INCOME
Operating income for the six months ended July 1, 1994 was $23.1 million
compared to operating income of $15.4 million in the six months ended July 2,
1993. The increased operating income in the first six months of fiscal 1994
compared to the same period in fiscal 1993 was attributable to significantly
higher net sales, together with improved operating efficiencies which
generated increased operating profit margins.
Operating income for the three months ended July 1, 1994 was $14.5
million compared to operating income of $9.5 million in the three months ended
July 2, 1993. This increase was also attributable to significantly higher net
sales together with improved operating efficiencies which generated increased
operating profit margins.
INTEREST EXPENSE
Interest expense for the six months ended July 1, 1994 was $9.5 million
compared to $9.9 million for the six months ended July 2, 1993.
Interest expense for the three months ended July 1, 1994 was $4.6 million
compared to $5.0 million for the three months ended July 2, 1993.
NET INCOME
Net income for the first six months of fiscal 1994 amounted to $8.0
million compared to $3.3 million in the first six months in fiscal 1993. The
first six months of fiscal 1994 benefited from higher net sales and operating
income.
Net income for the three months ended July 1, 1994, amounted to $5.9
million compared to $2.9 million for the three months ended July 2, 1993. The
1994 period benefited from higher net sales and operating income.
PRO-FORMA NET INCOME
Pro-forma net income for the six months ended July 1, 1994 was $8.0
million, or $.55 per share, versus $3.7 million, or $.25 per share for the
same period in fiscal 1993.
Pro-forma net income for the three months ended July 1, 1994 was $5.9
million, or $.40 per share, versus $3.2 million, or $.22 per share for the
same period in fiscal 1993.
Pro-forma figures for 1993 assume that the Company's third quarter 1993
public offerings of debt and equity securities occurred on the first day of
fiscal 1993. The gross proceeds of the Company's initial public offerings of
debt and equity were $160 million and $79.4 million, respectively.
LIQUIDITY AND CAPITAL RESOURCES
In August 1993, the Company completed two public offerings of 7,939,750
shares of the Company's Common Stock and $160 million aggregate principal
amount of 10-1/2% Senior Notes due 2003. The net proceeds of the offerings,
together with borrowings under a new $90 million bank credit facility were
used (i) to repay the entire unpaid balance under the Company's previously
existing senior debt financing agreements, redeem certain previously
outstanding debentures and pay related accrued interest, for a total of
approximately $227 million, and (ii) for working capital and general corporate
purposes. As a result of this repayment of debt, the Company incurred an
extraordinary loss of $11.3 million, net of tax, as a result of the original
issue discount on certain of the repaid notes as well as the premium required
to redeem the debentures. The New Credit Facility provides for up to $90
million of revolving credit loans for working capital and for letters of
credit. Availability of borrowings under the New Credit Facility is based
upon a formula related to inventory and accounts receivable.
For the six months ended July 1, 1994, cash increased by $13.0 million.
Cash provided from operating activities was $19.9 million and cash received
from Industrial Revenue Bond Notes was $7.0 million. This financing was used
to finance the expansion of the Bruce Hardwood Floors plant in Port Gibson,
Mississippi. Cash flow of $13.1 million was used for additions to plant,
property and equipment, construction deposits relating to expansion of the
Bruce Hardwood Floors plant in West Virginia and the acquisition of Premier
Wood Floors on July 1, 1994 for approximately $5.1 million.
On July 1, 1994, the Company had working capital of $80.7 million, or
22.7% of total assets, and $52.1 million of unused bank borrowing capacity.
The Company believes that borrowing availability under the New Credit
Facility and cash generated from operations will be adequate to fund working
capital requirements, debt service payments and the planned capital
expenditures.
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.
a) Exhibits - None
b) No reports on Form 8-K have been filed during the quarter
ended July 1, 1994.
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.
TRIANGLE PACIFIC CORP.
Date: August 9, 1994 By: /s/ M. Joseph McHugh
---------------- -----------------------------------
M. Joseph McHugh
Senior Executive Vice President
and Treasurer
(duly authorized officer and
principal financial officer)
Date: August 9, 1994 By: /s/ Robert J. Symon
---------------- -----------------------------------
Robert J. Symon
Vice President - Controller
(principal accounting officer)
