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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K/A2
(Amendment No. 2)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 25, 1995
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HANOVER DIRECT, INC.
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(Exact name of registrant as specified in its charter)
1-12082
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(Commission File Number)
Delaware 13-0853260
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(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
1500 Harbor Boulevard
Weehawken, New Jersey 07087
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(Address of principal (Zip Code)
executive offices)
Registrant's telephone number, including area code (201) 863-7300
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(Former name or former address, if changed since last report)
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EXPLANATORY NOTE
This Form 8-K/A2 is being filed by Hanover Direct, Inc. a Delaware corporation
(the "Company"), as an amendment to its Current Report on Form 8-K dated May 25,
1995, amended April 16, 1996, to amend Item 7(b) to reflect the pro forma
financial adjustments TO THE CONDENSED CONSOLIDATED PROFORMA STATEMENT OF
OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 1994 for ACQUISITION OF the Leichtung
Workshops and the Safety Zone by the Company.
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Item 7. Financial Statements and Exhibits.
* * *
(b) Pro Forma Financial Information
Hanover Direct, Inc. -- Pro Forma Consolidated Condensed Financial Statements
(Unaudited)
Condensed Consolidated Pro Forma Statement of Operations for the
year ended December 31, 1994
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Item 7(b)
Hanover Direct, Inc.
Condensed Consolidated Proforma Statement of Operations
12/31/94
(Unaudited)
Dollar amounts in thousands, except per share amounts
<TABLE>
<CAPTION>
Hanover Austad Safety
Direct, Inc. Company Adjustments Adjusted Leichtung Zone Adjusted
----------- -------- ------------------------------- --------- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Sales 768,888 39,198 808,082 26,517 14,183 848,782
Cost of Sales 486,477 24,689 (76) (c) 514,897 9,512 6,874 531,283
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3,807 (b)
Gross Profits 282,407 14,509 (3,731) 293,183 17,005 7,309 317,499
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Selling, General & 266,432 15,180 148 (a) 277,953 16,840 7,591 302,384
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Administrative (3,807) (b)
Operating income (loss) 15,975 (671) (72) 15,232 165 (282) 15,115
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Other (income) expense
Interest 2,813 1,109 240 (d) 4,162 1,311 79 5,552
Other (income) expense, net 1,833 7 0 (e) 1,840 (2,005) (6) (171)
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Income (loss) before taxes 11,329 (1,787) (312) 9,230 859 (355) 9,734
Income tax (benefit) expense (3,509) 0 0 (3,509) 152 0 (3,357)
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Net Income 14,838 (1,787) (312) 12,739 707 (355) 3,091
Preferred Stock Dividends 135 0 0 135 0 0 135
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Net income (loss) applicable to 14,703 (1,787) (312) 12,604 707 (355) 12,956
common ---------- ------ ---------- ------ ------ ----------
EPS 0.16 0.14 0.14
Average Shares Outstanding 93,285,190 93,285,190 93,285,190
</TABLE>
a) Reflects the revised depreciation of property and equipment and
amortization of goodwill and intangible assets.
b) Reflects the reclassification of certain Austad expenses to conform to
Hanover's method of presentation.
c) Reflects the cost savings to Austad from the reduced telecommunication
rate under Hanover's contract.
d) Reflects increased interest expense from the $4,400 of incremental
Hanover borrowings, partially offset by reduced interest expense from
the reduction of Austad's short term borrowings.
e) Due to the debit balance in the minority interest account, there is no
minority interest impact on the statement of operations.
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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 its behalf by the
undersigned hereunto duly authorized.
HANOVER DIRECT, INC.
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(Registrant)
July 12, 1996 By: /s/ Wayne P. Garten
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Name: Wayne P. Garten
Title: Executive Vice
President & Chief
Financial Officer
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