FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR QUARTER ENDED March 31, 1997 COMMISSION FILE NO. 0-12025
CIRCON CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 95-3079904
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6500 Hollister Avenue, Santa Barbara, California 93117-3019
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (805) 685-5100
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 twelve 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
Number of Common Shares Outstanding at March 31, 1997: 13,243,448
CIRCON CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 1996 AND MARCH 31,1997
LIABILITIES AND SHAREHOLDERS' EQUITY
(In thousands, except for share amounts)
(UNAUDITED)
December 31, March 31,
1996 1997
---------- ----------
CURRENT LIABILITIES:
Current maturities of long-term obligations $ 429 $ 370
Accounts payable 6,344 6,504
Accrued liabilities 12,000 10,978
Customer deposits 879 765
---------- ---------
Total current liabilities 19,652 18,617
---------- ---------
NONCURRENT LIABILITIES:
Long-term obligations 50,565 52,565
---------- ---------
SHAREHOLDERS' EQUITY:
Preferred stock: $0.01 par value
1,000,000 shares authorized, none
outstanding
Common stock: $0.01 par value
50,000,000 shares authorized
13,239,746 and 13,243,448 issued and outstanding
in 1996 and 1997, respectively 132 132
Additional paid-in capital 104,426 104,457
Cumulative translation adjustment (502) (974)
Accumulated deficit (5,155) (4,364)
---------- ----------
Total shareholders' equity 98,901 99,251
========== ==========
Total liabilities and shareholders'
equity $ 169,118 $ 170,433
========== =========
The accompanying notes are an integral part of
these consolidated balance sheets.
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.
CIRCON CORPORATION
Registrant
May 14, 1997
- ------------- ------------------
Date RICHARD A. AUHLL
President
Chief Executive Officer
May 14, 1997
- ------------ ------------------
Date R. BRUCE THOMPSON
Executive Vice President
Chief Financial Officer
