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 June 30, 2000
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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
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Commission file number 0-21940
Donnkenny, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 51-0228891
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(State or jurisdiction of (I R.S. Employer
incorporation or organization) Identification No.)
1411 Broadway, New York, NY 10018
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 790-3900
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NOT APPLICABLE
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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), Yes X No and
(2) has been the subject to such filing requirements for the past 90 days.
Yes X No.
Indicate the number of shares outstanding of each of the issuer's
classes of Common Stock, as of the latest practicable date.
Common Stock $0.01 par value 3,617,417
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(Class) (Outstanding at August 9, 2000)
<PAGE>
DONNKENNY, INC AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except per share data)
<TABLE>
<CAPTION>
June 30, December 31,
2000 1999
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(Unaudited)
<S> <C> <C>
CURRENT ASSETS
Cash ...................................................... $ 45 $ 180
Accounts receivable - net of allowances of
$413 and $382, respectively ............................... 21,871 30,022
Recoverable income taxes 189 304
Inventories ............................................... 21,864 29,323
Deferred tax assets ....................................... 2,178 2,865
Prepaid expenses and other current assets ................. 1,094 636
Assets held for sale ...................................... 358 456
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Total current assets ...................................... 47,599 63,786
PROPERTY, PLANT AND EQUIPMENT, NET ............................. 5,518 5,981
OTHER ASSETS ................................................... 513 546
INTANGIBLE ASSETS .............................................. 30,829 31,524
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TOTAL ......................................................... $ 84,459 $ 101,837
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt ...................... $ 1,175 $ 1,168
Accounts payable ....................................... 10,174 10,351
Accrued expenses and other current liabilities ......... 1,634 3,965
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Total current liabilities ........................... 12,983 15,484
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LONG-TERM DEBT ................................................ 32453 41,607
DEFERRED TAX LIABILITIES ...................................... 2,178 2,865
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock $.O1 par value; authorized 500
shares , issued none .................................... _ -
Common stock, $.O1 par value. Authorized 10,000
shares, issued and outstanding 3,617 and 3,557 shares
in 2000 and 1999, respectively 36 36
Additional paid-in capital ................................ 48,582 47,877
Issuable shares for litigation settlement ................. 1,875 1,875
Deficit (13,648) (7,907)
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Total Stockholders' Equity ................................. 36,845 41,881
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TOTAL.......................................................... $ 84,459 $ 101,837
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</TABLE>
See accompanying notes to consolidated financial statements
I-1
<PAGE>
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.
Donnkenny, Inc.
Registrant
/s/ Daniel H. Levy
Date: August 25, 2000 ------------------------------
Daniel H. Levy
Chairman of the Board,
Chief Executive Officer
Date: August 25, 2000
/s/ Beverly Eichel
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Beverly Eichel
Executive Vice President
and Chief Financial Officer,
(Principal Financial Officer)
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