MERCURY AIR GROUP INC
10-Q/A, 1997-05-14
PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS)
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<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                  FORM 10-Q/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 March 31, 1997


[ ] Transition report pursuant to section 13 or 15(d) of the Securities Exchange
    Act of 1934
For the Transition period from                 to

Commission File No. 1-7134
                    ------  
                             MERCURY AIR GROUP, INC.

             (Exact name of registrant as specified in its charter)

 
            New York                                11-1800515
            --------                                ----------
(State or other jurisdiction of                   (I.R.S. Employer
 incorporation or organization)                Identification Number)


5456 McConnell Avenue, Los Angeles, CA                 90066
- --------------------------------------                 -----
(Address of principal executive offices)             (Zip Code)


                                 (310) 827-2737
                                 --------------
              (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
                                        -----   -----

         Indicate the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.

<TABLE>
<CAPTION>
                                        Number of Shares Outstanding
           Title                              As of May 1, 1997
           -----                        ----------------------------
<S>                                     <C>
Common Stock, $.01 Par Value                        7,509,651
</TABLE>

<PAGE>   2
                                   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.





                                           Mercury Air Group, Inc.
                                           Registrant




                                           -----------------------------
                                           Seymour Kahn
                                           Chairman and Chief
                                           Executive Officer





                                           -----------------------------
                                           Randy Ajer
                                           Secretary/Treasurer
                                           Chief Accounting Officer



Date: May 14, 1997





                                       13

<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM (A) THE
CONSOLIDATED BALANCE SHEET OF MARCH 31, 1997 AND THE CONSOLIDATED STATEMENTS OF
INCOME FOR THE NINE MONTHS ENDED MARCH 31, 1997, AND IS QUALIFIED IN IT'S
ENTIRETY BY REFERENCE TO SUCH (B) FINANCIAL STATEMENTS CONTAINED ON FORM 10-Q
FOR THE PERIOD ENDED MARCH 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                           2,119
<SECURITIES>                                         0
<RECEIVABLES>                                   56,877
<ALLOWANCES>                                     1,566
<INVENTORY>                                      2,380
<CURRENT-ASSETS>                                62,491
<PP&E>                                          50,385
<DEPRECIATION>                                  24,269
<TOTAL-ASSETS>                                  95,423
<CURRENT-LIABILITIES>                           24,473
<BONDS>                                         45,155
                                0
                                          0
<COMMON>                                            75
<OTHER-SE>                                      25,510
<TOTAL-LIABILITY-AND-EQUITY>                    95,423
<SALES>                                        175,862
<TOTAL-REVENUES>                                39,903
<CGS>                                          161,884
<TOTAL-COSTS>                                  198,606
<OTHER-EXPENSES>                                10,778
<LOSS-PROVISION>                                   792
<INTEREST-EXPENSE>                               2,611
<INCOME-PRETAX>                                  6,381
<INCOME-TAX>                                     2,520
<INCOME-CONTINUING>                              3,861
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     3,861
<EPS-PRIMARY>                                     0.49
<EPS-DILUTED>                                     0.41
        

</TABLE>


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