FORM 10-QSB/A
Amendment No. 1 to Form 10-QSB
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For Quarter Ended: June 30, 1997
Commission File Number: 0-4728
ARROW-MAGNOLIA INTERNATIONAL, INC.
(Exact name of small business issuer as specified in its
charter)
Texas
(State or other jurisdiction of incorporation or
organization)
75-0408335
(I.R.S. Employer Identification No.)
2646 Rodney Lane, Dallas, Texas 75229
(Address of principal executive offices)
(214) 247-7111
(Issuer's telephone number, including area code)
Check whether the issuer (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of
1934
during the past 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.
X
Yes No
Number of common shares outstanding as of June 30, 1997:
Common Stock, $0.10 par value, 2,373,120 shares
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The registrant's Condensed Consolidated Statements of Cash Flows
contained in its Form 10-QSB for the quarter ended June 30, 1997
are amended in their entirety to read as follows:
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ARROW-MAGNOLIA INTERNATIONAL, INC. AND SUBSIDIARY
Condensed Consolidated Statements of Cash Flows
Six months ended June 30, 1997 and 1996
1997 1996
(unaudited) (unaudited)
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<S> <C> <C>
Cash flows from operating activities:
Net earnings $ 668,554 512,612
Adjustments to reconcile net earnings
to net cash used in operating activities:
Depreciation and amortization 37,274 35,274
Deferred income taxes (22,234) (25,238)
Provision for doubtful accounts 65,395 118,679
(Increase) decrease in operating assets:
Receivables (1,057,178) (637,134)
Inventories (104,554) (67,546)
Other assets (95,394) 18,548
(Decrease) increase in operating
liabilities:
Accounts payable 294,790 109,858
Accrued liabilities (42,178) (60,560)
Income taxes payable (73,625) (65,356)
Net cash used in operating
activities (329,150) (60,863)
Cash flows from investing activities:
Purchase of short-term investments - 374,602
Acquisition of property and equipment (99,182) (34,603)
Net cash used in investing
activities (99,182) 339,999
Cash flows from financing activities:
Repayments of note payable (50,000) (90,000)
Proceeds from common stock issuance - 31,250
Repayments of long-term debt (58,240) (68,828)
Net cash used in financing
activities (108,240) (127,578)
Net decrease in cash (536,572) 151,558
Cash at beginning of period 1,755,000 761,419
Cash at end of period $1,218,428 912,977
</TABLE>
See accompanying notes to condensed consolidated financial
statements.
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SIGNATURE
In accordance with the requirements of the Exchange Act, the
registrant caused this Form 10-QSB/A amending its Form 10-QSB to
be signed on its behalf by the undersigned, thereunto duly
authorized.
ARROW-MAGNOLIA INTERNATIONAL, INC.
Date: August 20, 1997 By: /s/ Morris Shwiff
Morris Shwiff, President
and Principal Executive Officer
