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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10 - Q/A
First Amendment
X Quarterly report pursuant to Section 13 or 15(d) of the Securities
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Exchange Act of 1934 for the quarterly period ended May 2, 1998 or
Transition report pursuant to Section 13 or 15(d) of the Securities
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Exchange Act of 1934 for the transition period from to
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Commission File Number 0-7264
PAUL HARRIS STORES, INC.
(Exact name of registrant as specified in its charter)
Indiana 35-0907402
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6003 Guion Rd., Indianapolis, IN 46254
(Address of principal executive offices) (Zip Code)
(317) 293-3900
(Registrant's telephone number, including area code)
Indicate by check mark 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 periods 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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Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes X No
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As of June 8, 1998, 11,262,131 common shares were outstanding.
EXPLANATORY NOTE
Registrant submits this amendment to correct three line item errors under the
May 2, 1998 column of its Consolidated Balance Sheet. Line item corrections
are to "Deferred Income Taxes", "Other assets" and "Income taxes payable"
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PAUL HARRIS STORES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
May 3, January 31, May 2,
1997 1998 1998
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(unaudited) (unaudited)
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ASSETS
Current assets
Cash and cash equivalents $ 16,713 $ 17,990 $ 17,995
Merchandise inventories 18,319 31,940 28,531
Other receivables 189 3,330 2,205
Prepaid expenses 856 1,359 1,496
Deferred income taxes - 124 90
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Total current assets 36,077 54,743 50,317
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Property, fixtures and equipment
Land, building and improvements 5,801 5,871 5,895
Store fixtures and equipment 15,240 25,838 27,900
Leasehold improvements and other 13,180 19,462 21,692
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34,221 51,171 55,487
Less: accumulated depreciation and amortization (14,072) (16,368) (17,823)
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Property, fixtures and equipment, net 20,149 34,803 37,664
Deferred income taxes - 952 827
Other assets 722 800 765
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$ 56,948 $ 91,298 $ 89,573
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable $ 7,470 $ 12,725 $ 9,118
Compensation and related taxes 1,756 2,780 1,702
Income taxes payable 133 377 766
Other accrued expenses 4,042 4,345 5,211
Current maturities of long-term debt 120 120 1,890
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Total current liabilities 13,521 20,347 18,687
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Long-term debt 1,890 1,810 -
Other non-current liabilities 2,551 3,137 3,248
Shareholders' equity
Preferred stock (no par value)
Authorized 1,000 shares; none issued
Common stock (no par value)
Authorized 20,000 shares; issued and outstanding
10,120, 11,256 and 11,262 respectively 1,938 17,354 17,387
Additional paid-in capital 10,707 13,904 13,933
Retained earnings 26,341 34,746 36,318
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Total shareholders' equity 38,986 66,004 67,638
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$ 56,948 $ 91,298 $ 89,573
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See accompanying "Notes To Consolidated 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.
Paul Harris Stores, Inc.
(Registrant)
Date: June 19, 1998 /s/ John H. Boyers
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Senior Vice President -- Finance and Treasurer
(Signing on behalf of the registrant and as
principal financial officer)
