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UNITED STATES
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:
SEPTEMBER 30, 1997
or
( ) Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Commission File Number: 0-9463
ULTRAK, INC.
(Exact name of registrant as specified in its charter)
Delaware 75-2626358
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1220 Champion Circle, Suite 100,
Carrollton, Texas 75006
(Address of principal executive offices) (Zip Code)
(972) 280-9675
(Registrant's telephone number, including area code)
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 [ ]
Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of September 30, 1997: 14,445,475 shares of $.01 par value
common stock.
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ULTRAK. INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
<TABLE>
<CAPTION>
THREE MONTHS THREE MONTHS NINE MONTHS NINE MONTHS
ENDED ENDED ENDED ENDED
SEPTEMBER 30,1997 SEPTEMBER 30, 1996 SEPTEMBER 30, 1997 SEPTEMBER 30, 1996
----------------- ------------------ ------------------ ------------------
<S> <C> <C> <C> <C>
Net sales $ 50,701,185 35,151,344 135,257,458 96,591,813
Cost of sales 34,690,739 24,075,309 92,307,388 67,962,910
---------------- ---------------- ---------------- ----------------
Gross profit 16,010,446 11,076,035 42,950,070 28,628,903
Other operating costs:
Marketing and sales 7,964,519 4,716,657 21,555,619 13,399,182
General and administrative 4,626,636 2,416,421 12,599,239 5,470,703
Depreciation and goodwill amortization 1,086,263 356,651 2,831,051 913,828
---------------- ---------------- ---------------- ----------------
13,677,418 7,489,729 36,985,909 19,783,713
---------------- ---------------- ---------------- ----------------
Operating profits 2,333,028 3,586,306 5,964,161 8,845,190
Other (expense) income:
Interest (expense) income 415,178 104,287 1,647,058 (782,516)
Costs of terminated merger 0 0 (697,055) 0
Other, net 539,473 (103,904) 932,146 (154,180)
---------------- ---------------- ---------------- ----------------
954,651 383 1,882,149 (936,696)
---------------- ---------------- ---------------- ----------------
Income before income taxes 3,287,679 3,586,689 7,846,310 7,908,494
Income taxes (1,271,072) (1,256,005) (2,918,827) (2,773,579)
---------------- ---------------- ---------------- ----------------
NET INCOME 2,016,607 2,329,884 4,927,483 5,134,915
Dividend requirements on
preferred stock (29,302) (29,302) (87,908) (87,908)
---------------- ---------------- ---------------- ----------------
Net income allocable to
common stockholders $ 1,987,305 2,300,582 4,839,575 5,047,007
================ ================ ================ ================
Income per share:
Primary $ .14 $ .21 $ .33 $ .55
================ ================ ================ ================
Assuming Full Dilution $ .14 $ .20 $ .33 $ .54
================ ================ ================ ================
Number of common shares
used in computations:
Primary 14,462,583 10,926,586 14,497,937 9,131,371
================ ================ ================ ================
Assuming Full Dilution 14,920,454 11,365,974 14,921,881 9,591,141
================ ================ ================ ================
</TABLE>
The accompanying notes are an integral part of the consolidated financial
statements
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ULTRAK, INC. AND SUBSIDIARIES
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.
ULTRAK, INC.
(Registrant)
Date: November 20, 1997 By: /s/ TIM D. TORNO
--------------------------------
Tim D. Torno
Principal Financial and
Accounting Officer
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