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FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 29, 1995
Commission File Number: 0-9788
RICHEY ELECTRONICS, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 33-0594451
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
7441 LINCOLN WAY, GARDEN GROVE, CALIFORNIA 92641
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(Address of Principal Executive Office) (Zip Code)
(714) 898-8288
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(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
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APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.
As of November 29, 1995, 9,054,329 shares of the registrant's Common
Stock, $0.001 par value, were issued and outstanding.
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RICHEY ELECTRONICS, INC.
CONDENSED BALANCE SHEETS
(UNAUDITED)
<TABLE>
<CAPTION>
September 29, December 31,
1995 1994
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<S> <C> <C>
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 1,776,000 $ 9,000
Trade receivables 14,239,000 11,167,000
Inventories 17,358,000 14,913,000
Deferred income taxes 1,427,000 1,427,000
Other current assets 345,000 435,000
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Total current assets $35,145,000 $27,951,000
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LEASEHOLD IMPROVEMENTS, EQUIPMENT
FURNITURE AND FIXTURES, net $ 1,931,000 $ 1,017,000
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OTHER ASSETS AND INTANGIBLES
Deferred income taxes $ 2,430,000 $ 2,430,000
Intangibles, less accumulated amortization
of $1,722,000 and $1,439,000, respectively 1,987,000 3,261,000
Goodwill 757,000 260,000
Deposits and other 82,000 94,000
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$ 5,256,000 $ 6,045,000
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$42,332,000 $35,013,000
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Current maturities of subordinated notes payable $ 0 $ 1,600,000
Notes payable, revolving line of credit 3,131,000 8,843,000
Accounts payable 10,262,000 10,457,000
Accrued expenses 1,756,000 1,734,000
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Total current liabilities $15,149,000 $22,634,000
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SUBORDINATED NOTES PAYABLE $ 0 $ 3,594,000
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STOCKHOLDERS' EQUITY
Preferred Stock, $0.001 par value,
authorized 10,000 shares, issued none $ 0 $ 0
Common Stock, $0.001 par value, authorized
30,000,000 shares, issued and outstanding
9,054,000 shares 9,000 6,000
Additional paid-in-capital 20,976,000 5,240,000
Retained earnings 6,198,000 3,539,000
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Total stockholders' equity $27,183,000 $ 8,785,000
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$42,332,000 $35,013,000
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</TABLE>
* December 31, 1994 Goodwill of $260,000 and September 29, 1995 Deposits and
other of $82,000 were reversed in the original filing of the Form 10-Q. This
amendment corrects the error.
SEE NOTES TO CONDENSED FINANCIAL STATEMENTS
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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 thereunto duly authorized.
RICHEY ELECTRONICS, INC.
(Registrant)
By /s/ Richard N. Berger
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Richard N. Berger
Vice President,
Chief Financial Officer
and Secretary
November 29, 1995
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