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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A
Amendment Number 1 to Form 10-QSB
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended Commission File Number
June 30, 1995 0-4671
ISOMET CORPORATION
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State of Incorporation IRS Employer Identification
New Jersey No. 22-1591074
Address of Principal Executive Offices
5263 Port Royal Road
Springfield, Virginia 22151
Registrant's Telephone Number: (703) 321-8301
Common Shares Outstanding on June 30, 1995: 1,905,590
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 ninety (90) days.
X Yes No
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ISOMET CORPORATION
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The Company hereby amends the following portion of the Company's Form 10-
QSB for the quarter ended June 30, 1995:
PART II
ITEM 2: MANAGEMENT'S ANALYSIS OF QUARTERLY INCOME STATEMENTS
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Revenue for the second quarter of 1995 totaled $1,373,000, slightly higher
than $1,344,000 in 1994. Net profit this year was $68,000, or $.04 per share
compared to $51,000 or $.03 per share last year, as operating cost levels this
year were relatively consistent with those experienced in the second quarter of
1994.
For the six months ended June 30, 1995, revenue of $2,579,000 was
approximately $220,000 below the 1994 level. This decline was primarily due to
a lower level of color scanner shipments in the first quarter of 1995, compared
to the same period in 1994. For the first half of 1995 net earnings were
$30,000 or $.02 per share, compared to a net loss in 1994 of $(105,000) or
$(.06) per share. The 1994 results included a non-recurring net charge to
income of $222,000 related to Isomet Japan's first quarter of 1994 operations
and the sale of the subsidiary, effective March 31, 1994.
New orders totaled $1,071,000 for the quarter and $2,695,000 for the
current six month period, compared to $1,626,000 and $2,821,000, respectively,
last year. Unfilled orders on June 30, 1995 totaled $1,138,000, compared to
$1,127,000 on the same date last year and $943,000 on December 31, 1994.
Effective January 8, 1995, the Company's loan agreement with Nations Bank
was renewed for a one year period with a fixed principal repayment schedule of
$20,000 per month. Consequently, this debt, in the amount of $1,465,000, is
classified as short-term on the 1995 quarterly balance sheets. During the
twelve month period from July 1, 1995 - June 30, 1996, the Company expects to
generate sufficient cash flow from operations to meet it's liquidity needs and
to either renew it's existing loan agreement in January 1996 or to replace it
from other lending sources.
As of June 30, 1995 the Company has no material commitments for capital
expenditures and accordingly, no funds from sources, other than internally
generated funds, are considered necessary over the next twelve months.
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SIGNATURES
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Pursuant to the requirement of The Securities Exchange Act of 1934, the
Registrant has duly caused this Amendment Number 1 to Form 10-QSB Quarterly
Report for the quarter ended June 30, 1995 to be signed on its behalf by the
undersigned, thereunto duly authorized.
ISOMET CORPORATION
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Registrant
By:
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Jerry W. Rayburn
Executive Vice President
Finance and Treasurer and Director
Date: October , 1995
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