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Previous: METHODE ELECTRONICS INC, SC 13G/A, 1995-01-31 |
Next: CORESTATES FINANCIAL CORP, POS AM, 1995-01-31 |
UNITED STATES OF AMERICA
BEFORE THE SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
________________________________________
In the Matter of :
:
Entergy Corporation :
Entergy Enterprises, Inc. :
Entergy Systems and Service, Inc. :
formerly Systems and Service U.S.A., Inc. : CERTIFICATE PURSUANT
: TO RULE 24
File No. 70-7947 :
:
(Public Utility Holding Company :
Act of 1935) :
________________________________________
Pursuant to Rule 24 promulgated by the Securities and
Exchange Commission (SEC) under the Public Utility Holding
Company Act of 1935, modified by the application-declaration
referenced above and the related order dated December 28, 1992,
this is to certify that the progress made in the development of
System and Service International, Inc.'s (SASI) energy efficient
technology and manufacturing processes as well as the development
within the "Base Region" (as defined) of such energy efficiency
technology by Entergy Systems and Service, Inc. during the three
months ended December 31, 1994. Unaudited financial statements
for the fourth quarter of 1994 are also attached.
1) Development of SASI's energy efficient
technologies continues to advance in accordance with
the initial progress schedule. Operational planning
regarding the automation of SASI's production lines
continues. Engineering runs of SASI's newest
technology are being prepared. Additionally, a new
manufacturing facility is being prepared to be
available in adequate time to produce the final
marketable version of the above technologies.
2) Entergy Systems and Service, Inc. has utilized
SASI's current product in energy service applications
in the "Base Region". The following is a summary which
indicates such installations and projected energy
conservation which will result in savings of generating
capacity.
Annual Projected
Number of Savings
Installations kw's kwh's
269 1,884.61 11,944,454.71
<PAGE>
IN WITNESS WHEREOF, the undersigned companies have caused
this certificate to be executed this 31st day of January, 1995.
Entergy Corporation
By: /s/ Gerald D. McInvale
Gerald D. McInvale
Senior Vice President and
Chief Financial Officer
Entergy Enterprises, Inc.
By: /s/ Gerald D. McInvale
Gerald D. McInvale
Senior Vice President,
Chief Financial Officer,
Treasurer and (Acting
Chief Operating Officer)
Systems and Service U.S.A., Inc.
(now Entergy Systems and Service, Inc.)
By: /s/ Gerald D. McInvale
Gerald D. McInvale
Chairman of the Board
Entergy Systems and Service, Inc.
Statement of Operations
For the Quarter Ended December 31, 1994
(Unaudited)
Revenue $ 1,668,492
Cost of Goods Sold 1,243,915
-----------
Gross Margin 424,578
Selling, general and administrative expenses:
Salaries and wages 3,007,863
Other 3,012,157
-----------
Operating loss (5,595,443)
Other income 300,325
Interest expense 991,569
-----------
Loss before income taxes (6,286,687)
Income taxes (2,384,712)
-----------
Net loss $(3,901,975)
===========
<PAGE>
Entergy Systems and Service, Inc.
Balance Sheet
September 30, 1994
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $34,763,160
Accounts receivable 1,938,651
Other current assets 108,177
Total current assets 36,809,988
Furniture, fixtures and equipment, net 4,881,712
Equipment Inventory - held for installation 11,144,324
Installations-in-process 4,681,670
Installed equipment 8,000,017
Investment in affiliate 2,316,996
Loan receivable from affiliate 2,700,000
Goodwill, net 1,053,776
Deferred taxes 8,367,981
Other assets 8,808,513
-----------
$88,764,977
===========
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
Accounts payable $ 2,908,002
Accrued liabilities 1,552,600
Current portion of capital lease obligations 157,927
Total current liabilities 4,618,529
Note payable to parent 72,300,000
Deferred credit - Sanwa 4,403,844
Deferred service contract revenue 9,711,504
Accrued maintenance costs 157,375
Capital lease obligations 320,672
Total liabilities 91,511,924
Shareholder's equity:
Common stock, no par value, 50,000 shares authorized,
13,500 shares issued and outstanding 13,500,000
Accumulated defecit (16,246,947)
-----------
Total shareholder's equity (2,746,947)
-----------
$88,764,977
===========
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