<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------
FORM 10-Q
(Mark One)
X Quarterly Report Pursuant to Section 13 or 15(d) of
---- the Securities Exchange Act of 1934
for the quarterly period ended March 31, 1995
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 No. 0-8836
NUCLEAR METALS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
MASSACHUSETTS 04-2506761
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
2229 MAIN STREET, CONCORD
CONCORD, MASSACHUSETTS 01742
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(508) 369-5410
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
(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 twelve 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 MAY 2, 1995 THERE WERE ISSUED AND OUTSTANDING 2,372,164 SHARES OF THE
REGISTRANT'S COMMON STOCK.
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NUCLEAR METALS, INC. AND SUBSIDIARIES
FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1995
INDEX
PAGE
----
Part I. Financial Information 2
Item I. Financial Statements
Consolidated Balance Sheets,
March 31, 1995 and September 30, 1994 3
Consolidated Statements of Income:
Three Months Ended March 31, 1995 and March 31, 1994 4
Consolidated Statements of Income:
Six Months Ended March 31, 1995 and March 31, 1994 5
Consolidated Statements of Cash Flow:
Six Months Ended March 31, 1995 and March 31, 1994 6
Notes to Consolidated Financial Statements 7
Item II. Management's Discussion and Analysis of Financial
Condition and Results of Operations 8-12
SIGNATURES 13
<PAGE>
PART II
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
a. Exhibits:
10A Credit Agreement dated March 31, 1995 between Nuclear Metals,
Inc., Carolina Metals, Inc. and State Street Bank and Trust
Company.
10B Revolving Credit Note dated March 31, 1995 of Nuclear Metals,
Inc. and Carolina Metals, Inc. payable to State Street Bank and
Trust Company in the principal amount of $2,250,000.
10C Term Note dated March 31, 1995 of Nuclear Metals, Inc. and
Carolina Metals, Inc. payable to State Street Bank and Trust
Company in the amount of $2,400,000.
b. Reports on Form 8-K: The Company did not file any reports on Form 8-K
during t
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Nuclear Metals, Inc.
By /S/ Robert E. Quinn
----------------------------------------
Robert E. Quinn, President and Treasurer
Chief Executive Officer
Date May 12, 1995
----------------------------------------
By /S/ James M. Spiezio
----------------------------------------
James M. Spiezio, Vice President, Finance
Chief Financial Officer
Date May 12, 1995
----------------------------------------
13
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<PAGE>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1995
<PERIOD-END> MAR-31-1995
<CASH> 1,043,000
<SECURITIES> 279,000
<RECEIVABLES> 5,168,000
<ALLOWANCES> 1,290,000
<INVENTORY> 14,990,000
<CURRENT-ASSETS> 22,713,000
<PP&E> 45,412,000
<DEPRECIATION> 29,917,000
<TOTAL-ASSETS> 40,007,000
<CURRENT-LIABILITIES> 6,284,000
<BONDS> 0
<COMMON> 240,000
0
0
<OTHER-SE> 26,777,000
<TOTAL-LIABILITY-AND-EQUITY> 40,007,000
<SALES> 9,839,000
<TOTAL-REVENUES> 9,839,000
<CGS> 8,288,000
<TOTAL-COSTS> 10,973,000
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 216,000
<INCOME-PRETAX> (1,115,000)
<INCOME-TAX> (936,000)
<INCOME-CONTINUING> 0
<DISCONTINUED> 0
<EXTRAORDINARY> 585,000
<CHANGES> 0
<NET-INCOME> 406,000
<EPS-PRIMARY> .17
<EPS-DILUTED> .17
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