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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
(Amendment No. 1)
[X] Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange
Act of 1934 for the quarterly period ended March 31, 1994
Commission file number: 1-8306
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AIR EXPRESS INTERNATIONAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 36-2074327
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(State or Other of Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
120 Tokeneke Road, Darien, Connecticut 06820 (203) 655-7900
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(Address of, Including Zip Code, and Telephone Number, Including Area Code, of
of Registrant's Principal Executive Offices)
NONE
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Former name, former address and former fiscal year, if changed since last report
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 3 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 registrant's classes of
common stock, as of the latest practicable date (applicable only to corporate
registrants).
The number of shares of common stock outstanding as of May 10, 1994 was
13,765,583. (Net of 2,181,537 Treasury Shares)
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EXPLANITORY NOTE
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This amendment is submitted to correct the Form 10-Q filed on 13-May-94. This
amendment corrects the inadvertent submission of Exhibit-11 re Computations of
Per Share Earnings.
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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.
Air Express International Corporation
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(Registrant)
Date: May 17, 1994 /s/ Dennis M. Dolan
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Dennis M. Dolan
Vice President and
Chief Financial Officer
(Principal Financial Officer)
Date: May 17, 1994 /s/ Walter L. McMaster
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Walter L. McMaster
Vice President - Controller
(Principal Accounting Officer)
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AIR EXPRESS INTERNATIONAL CORPORATION
March 1994 Form 10-Q/A Quarterly Report Adjustment
Exhibit Index
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Exhibit 11 - Computation of Earnings Per Common Share
Exhibit 11
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<CAPTION>
AIR EXPRESS INTERNATIONAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(Unaudited)
(In thousands, except
per share amounts)
Three Months Ended
March 31,
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1994 1993
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<S> <C> <C>
Primary:
Net income applicable to
common shares $ 3,482 $ 3,452
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Weighted average of common
shares outstanding 11,558 11,573
Common shares issuable on
exercise of stock options 115 160
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* Average common shares outstanding
standing as adjusted 11,673 11,733
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Earnings per common share $ .30 $ .29
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Fully diluted:
Weighted average of common
shares outstanding 11,558 11,573
Common shares issuable on
exercise of stock options 137 160
Common shares issuable upon assumed
conversion of subordinated debentures 2,194 1,462
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* Average common shares out-
standing as adjusted 13,889 13,196
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Earnings per common share $ .30 $ .29
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<FN>
* Primary earnings per share are computed by dividing net income by the
weighted average common and common equivalent shares outstanding during the
period. For the quarters ended March 31, 1994 and 1993, fully diluted
earnings per share have been calculated assuming the conversion of the
subordinated debentures and the elimination of the associated interest
expense, net of tax, of approximately $.73 million and $.49 million,
respectively.
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