SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A - No. 1
(Mark One)
/X/ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 [Fee Required]
For the fiscal year ended June 30, 1996 or
/ / Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act [No Fee Required]
For the transition period from _______ to _______
Commission File Number 0-11274
PHARMACEUTICAL FORMULATIONS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 22-2367644
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
460 PLAINFIELD AVENUE, EDISON, NJ 08818
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (908) 985-7100
Securities registered pursuant to Section 12(b) of the Act: None
----
Securities registered pursuant to Section 12(g) of the Act:
COMMON STOCK, $.08 PAR VALUE, AND COMMON STOCK PURCHASE WARRANTS
(TITLE OF CLASS)
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 by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K (ss.229.405 of this chapter) is not contained herein, and
will not be contained, to the best of registrant's knowledge, in definitive
proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. / /
The aggregate market value of the voting stock held by non-affiliates
(based upon the average of the high and low bid prices) on August 20, 1996 was
approximately $6,690,000.
As of August 20, 1996, there were 29,508,814 shares of Common Stock, par
value $.08 per share, outstanding.
Portions of the definitive Information or Proxy Statement to be filed with
the Securities and Exchange Commission (the "Commission") not later than 120
days after the end of the fiscal year covered by this Form 10-K with respect to
the registrant's Annual Meeting of Shareholders to be held in 1996 are
incorporated by reference into Part III of this Form 10-K.
Certain exhibits listed in Item 14 of Part IV have been incorporated by
reference.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Amendment No. 1 to its
Annual Report on Form 10-K to be signed on its behalf by the undersigned,
thereunto duly authorized.
PHARMACEUTICAL FORMULATIONS, INC.
By:/s/FRANK MARCHESE
Frank Marchese
Vice President, Finance
Dated: September 307, 1996
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<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<CASH> 1,284,000
<SECURITIES> 0
<RECEIVABLES> 8,511,000
<ALLOWANCES> 300,000
<INVENTORY> 9,720,000
<CURRENT-ASSETS> 21,823,000
<PP&E> 16,802,000
<DEPRECIATION> 12,303,000
<TOTAL-ASSETS> 39,661,000
<CURRENT-LIABILITIES> 13,895,000
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0
2,500,000
<COMMON> 2,361,000
<OTHER-SE> 37,286,000
<TOTAL-LIABILITY-AND-EQUITY> 39,661,000
<SALES> 54,327,000
<TOTAL-REVENUES> 54,327,000
<CGS> 44,581,000
<TOTAL-COSTS> 55,192,000
<OTHER-EXPENSES> 3,511,000
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 3,553,000
<INCOME-PRETAX> (4,376,000)
<INCOME-TAX> (911,000)
<INCOME-CONTINUING> 0
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<NET-INCOME> (3,465,000)
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