SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB/A
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Commission File Number 1-7037
ENVIRONMENT ONE CORPORATION
(Name of small business issuer in its charter)
New York 14-1505298
- - --------------------------------------------------------------------------------
(State or other jurisdiction of (IRS Employer
incorporation of organization) Identification No.)
2773 Balltown Road, Schenectady, NY 12309-1090
- - --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Issuer's telephone number (518) 346-6161
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 [ ]
APPLICABLE ONLY TO CORPORATE ISSUERS
The number of shares of Common Stock, par value $.10 as of June 30, 1996:
4,125,719.
Transitional Small Business Disclosure Format (check one):
Yes [ ] No [ X ]
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Environment One Corporation
FORM 10-QSB/A
INDEX
Page No.
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Part II. Other Information 3
Signatures 4
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Environment One Corporation
FORM 10-QSB/A
Part II - Other Information
On May 23, 1996 the annual meeting of shareholders was held in Albany, NY. The
following is the result of the shareholders voting relative to the election of
seven (7) directors, approval of the 1996 Long Term Incentive Plan, approval of
the 1996 Incentive Plan for Non-employee Directors and approval of amendments to
the Certificate of Incorporation providing for a staggered Board of Directors
and related matters:
Election of Directors - 3,374,405 votes were received and at least 99% of
the vote cast voted for the election of all directors.
Approval of the 1996 Long Term Incentive Plan - 2,628,058 votes were
received and at least 91% of the vote cast voted for approval of the 1996 Long
Term Incentive Plan.
Approval of the 1996 Incentive Plan for Non-Employee Directors - 2,628,178
votes were received and at least 91% of the vote cast voted for approval of the
1996 Incentive Plan for Non-Employee Directors.
Approval of amendments to the Certificate of Incorporation providing for a
staggered Board of Directors - 2,673,355 votes were received and at least 93% of
the vote cast voted for approval of amendments to the Certificate of
Incorporation providing for a staggered Board of Directors.
Immediately following the shareholders meeting the Board of Directors held their
meeting and the following Officers were elected to serve a one year term:
Chairman of the Board Stephen V. Ardia
President and Chief Executive Officer Angelo Dounoucos
Vice President David Doin
Secretary Edward J. Grogan
Assistant Corporate Secretary Susan H. Gisotti
Treasurer Philip W. Welsh
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<PAGE>
Environment One Corporation
FORM 10-QSB/A
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
ENVIRONMENT ONE CORPORATION
Date: August 14, 1996 By: /s/Stephen V. Ardia
-------------------------------
Stephen V. Ardia
Chairman of the Board,
Director
Date: August 14, 1996 By: /s/Angelo Dounoucos
-------------------------------
Angelo Dounoucos
Chief Executive Officer,
President and Director
Date: August 14, 1996 By: /s/Philip W. Welsh
-------------------------------
Philip W. Welsh
Director of Finance,
Treasurer
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<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<CASH> 54,021
<SECURITIES> 0
<RECEIVABLES> 4,376,100
<ALLOWANCES> 29,358
<INVENTORY> 1,939,567
<CURRENT-ASSETS> 6,644,773
<PP&E> 7,563,099
<DEPRECIATION> 4,049,068
<TOTAL-ASSETS> 10,431,785
<CURRENT-LIABILITIES> 3,830,320
<BONDS> 1,669,544
0
0
<COMMON> 414,621
<OTHER-SE> 4,460,810
<TOTAL-LIABILITY-AND-EQUITY> 10,431,785
<SALES> 9,273,381
<TOTAL-REVENUES> 9,273,381
<CGS> 6,569,901
<TOTAL-COSTS> 6,569,901
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 129,828
<INCOME-PRETAX> 900,838
<INCOME-TAX> 340,800
<INCOME-CONTINUING> 560,038
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 560,038
<EPS-PRIMARY> .14
<EPS-DILUTED> .14
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