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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 10-Q/A
Amendment No. 1
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[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 27, 1997
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to .
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Commission file number 0-14706.
INGLES MARKETS, INCORPORATED
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(Exact name of registrant as specified in its charter)
North Carolina 56-0846267
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
P.O. Box 6676, Asheville, NC 28816
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(Address of principal executive offices) (Zip Code)
(828) 669-2941
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Registrant's telephone number, including area code
The Registrant hereby files this Report on Form 10-Q/A to amend its
Quarterly Report on Form 10-Q for the period ended December 27, 1997 (the
"DECEMBER 1997 FORM 10-Q") (i) to amend its Financial Data Schedule included as
Exhibits 27.1 and 27.2 to include the information required by Regulation S-K,
Item 601(c)(2)(iii), as a result of an accounting principle change pursuant to
FAS 128 as set forth in Part II, Item 6(a) hereof.
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INGLES MARKETS, INCORPORATED
INDEX
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<CAPTION>
Page
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<S> <C>
Part II - Other Information ........................................................... 3
Item 6. Exhibits and Reports on Form 8-K.............................................. 3
Signatures ............................................................................ 4
Exhibits .............................................................................. 5
Exhibit 27.1 - Restated Financial Data Schedule for the quarter ended December 27, 1997
(for SEC use only)......................................... 6
Exhibit 27.2 - Restated Financial Data Schedule for the quarter ended December 28, 1996
(for SEC use only)......................................... 7
</TABLE>
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PART II. OTHER INFORMATION.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) The following exhibit is filed as part of this report. The exhibit
number refers to Item 601 of Regulation S-K.
Exhibit 27.1 - Restated Financial Data Schedule for the
quarter ended December 27, 1997 (for SEC use only)
Exhibit 27.2 - Restated Financial Data Schedule for the
quarter ended December 28, 1996 (for SEC use only)
(b) Reports on Form 8-K. There were no reports on Form 8-K filed by the
Company for the quarter ended December 27, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused the report to be signed on its behalf by the
undersigned thereunto duly authorized.
INGLES MARKETS, INCORPORATED
Date: February 4, 1999 /s/ Robert P. Ingle
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Robert P. Ingle
Chairman of the Board and
Chief Executive Officer
Date: February 4, 1999 /s/ Brenda S. Tudor
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Brenda S. Tudor
Vice President-Finance and
Chief Financial Officer
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INGLES MARKETS, INCORPORATED
EXHIBIT INDEX
<TABLE>
<CAPTION>
Page
<S> <C> <C>
Exhibit 27.1 - Restated Financial Data Schedule for the quarter ended December 27, 1997
(for SEC use only)................................................... 6
Exhibit 27.2 - Restated Financial Data Schedule for the quarter ended December 28, 1996
(for SEC use only)................................................... 7
</TABLE>
5
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
Exhibit 27.1 Restated Financial Data Schedule for the quarter ended
December 27, 1997.
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM INGLES
MARKETS, INCORPORATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED DECEMBER
27, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<RESTATED>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> SEP-26-1998<F1>
<PERIOD-START> SEP-28-1997
<PERIOD-END> DEC-27-1997
<CASH> 24,664,750
<SECURITIES> 0
<RECEIVABLES> 22,325,483
<ALLOWANCES> 112,431
<INVENTORY> 141,758,248
<CURRENT-ASSETS> 193,133,083
<PP&E> 889,270,514
<DEPRECIATION> 250,621,272
<TOTAL-ASSETS> 840,004,367
<CURRENT-LIABILITIES> 195,970,883
<BONDS> 394,410,225
0
0
<COMMON> 1,093,187
<OTHER-SE> 221,460,494
<TOTAL-LIABILITY-AND-EQUITY> 840,004,367
<SALES> 403,048,256
<TOTAL-REVENUES> 405,700,431
<CGS> 305,527,353
<TOTAL-COSTS> 306,750,319
<OTHER-EXPENSES> (201,267)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 9,049,595
<INCOME-PRETAX> 4,615,005
<INCOME-TAX> 1,775,000
<INCOME-CONTINUING> 2,840,005
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 2,840,005
<EPS-PRIMARY> .13
<EPS-DILUTED> .13
<FN>
<F1>The above Financial Data Schedule has been restated to include the
information required by Regulation S-K, Item 601(c)(2)(iii) as a result of an
accounting principle change pursuant to FAS 128.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
Exhibit 27.2 Restated Financial Data Schedule for the quarter ended
December 28, 1996.
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED DECEMBER 28, 1996 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> SEP-27-1997<F1>
<PERIOD-START> SEP-29-1996
<PERIOD-END> DEC-28-1996
<CASH> 23,088,604
<SECURITIES> 0
<RECEIVABLES> 17,314,105
<ALLOWANCES> 116,761
<INVENTORY> 126,979,074
<CURRENT-ASSETS> 171,286,105
<PP&E> 759,419,655
<DEPRECIATION> 213,625,995
<TOTAL-ASSETS> 724,848,805
<CURRENT-LIABILITIES> 160,445,528
<BONDS> 346,171,497
0
0
<COMMON> 988,775
<OTHER-SE> 194,308,427
<TOTAL-LIABILITY-AND-EQUITY> 724,848,805
<SALES> 381,115,510
<TOTAL-REVENUES> 383,599,400
<CGS> 290,188,391
<TOTAL-COSTS> 291,341,652
<OTHER-EXPENSES> (279,697)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 8,116,084
<INCOME-PRETAX> 8,556,653
<INCOME-TAX> 3,300,000
<INCOME-CONTINUING> 5,256,653
<DISCONTINUED> 0
<EXTRAORDINARY> (211,159)
<CHANGES> 0
<NET-INCOME> 5,045,494
<EPS-PRIMARY> .27
<EPS-DILUTED> .24
<FN>
<F1>The above Financial Data Schedule has been restated to include the
information required by Regulation S-K, Item 601(c)(2)(iii) as a result of an
accounting principle change pursuant to FAS 128.
</FN>
</TABLE>
