As filed with the Securities and Exchange Commission
on June 14, 1995
FORM 10-K/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1
to
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
for the fiscal year ended
September 30, 1994
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
1-12318
Commission file number
BALLARD MEDICAL PRODUCTS
Exact name of registrant
as specified in its charter
UTAH
State or other jurisdiction of incorporation
or organization
87-0340144
I.R.S. Employer Identification No.
12050 Lone Peak Parkway, Draper, Utah 84020
Address and Zip Code
of principal executive offices
(801) 572-6800
Registrant's telephone number,
including area code
Securities registered to 12(b) of the Act:
Title of each class: Common
Name of each exchange on which registered:
New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:
None
[X] Yes Indicate by check mark whether the Registrant (1)
[ ] No has filed all reports required to be filed by
Section 12 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 90 days.
[ ] Indicate by check mark if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K
(Section 229.405 of this chapter) is not contained
herein, and will not be contained, to the best of
registrant's knowledge, in definitive proxy or
information statements incorporated by reference in
Part III of this Form 10-K or any amendment to this
Form 10-K.
The aggregate market value of the voting stock held by
nonaffiliates of the registrant as of 11/30/94:
$242,354,800
The number of shares outstanding of the registrant's class of
common stock, as of 11/30/94:
26,467,745
DOCUMENTS INCORPORATED BY REFERENCE
The following documents are incorporated by reference
herein:
1. Annual Report to Shareholders for fiscal year ended
September 30, 1994: Incorporated into Parts I and
II hereof.
2. Proxy Statement for Annual Meeting of Shareholders
to be held January 23, 1995: Incorporated into
Part III hereof.
The Registrant hereby amends its Form 10-K for the fiscal year
ended September 30, 1994, by amending the specific items set
forth below:
DEFINITIONS
As used herein, the following terms have the meanings
indicated:
GENERAL DEFINITIONS
1. "Ballard" refers to Ballard Medical Products.
2. The "Company" and the "Registrant" refer to Ballard
and its subsidiaries.
3. "MIC" refers to Medical Innovations Corporation, a
wholly-owned subsidiary of Ballard.
4. "Code Blue" refers to Code Blue Medical
Corporation, a former wholly-owned subsidiary of
Ballard, which was statutorily merged into Ballard
in May, 1993.
5. "BREH" refers to Ballard Real Estate Holdings,
Inc., a wholly-owned subsidiary of Ballard.
6. "BI" refers to Ballard International, Inc., a
wholly-owned subsidiary of Ballard.
TECHNICAL AND MEDICAL TERMS
1. Bronchoalveolar lavage is a medical procedure for
obtaining samples from smaller airways in the
lungs. A catheter is wedged into the bronchus.
Then a lavage fluid is injected into the airways.
A fluid sample is withdrawn to determine whether
infectious organisms are present in the airways or
air sacs.
2. Catheter is a flexible tube that is inserted into
the body to deliver or remove fluid, retrieve
blood, or act as a conduit to pass other devices.
3. Closed suction catheter is a sleeved catheter used
with endotracheal tubes, on patients receiving
mechanical ventilation, enabling the airways to be
suctioned while maintaining mechanical ventilatory
support.
4. Cytology brush is a brush used to collect cell
samples from the gastrointestinal or pulmonary
tract.
5. Endoscope is an instrument used in the examination
of a hollow space or cavity in the human body.
6. Endoscopic refers to a procedure performed by means
of an endoscope.
7. Endoscopy is an examination of organs accessible to
observation through an endoscope.
8. Endotracheal tube is a tube inserted into the
patient's upper airway allowing medical ventilatory
support.
9. Enteral feeding catheter is a catheter used for the
delivery of nutritional liquids into the
gastrointestinal tract of the patient.
10. Gastrostomy is a surgical opening through the skin
into the stomach.
11. Jejunal means pertaining to the jejunum (part of
the small bowel).
12. Jejunostomy is a surgical opening through the skin
into the jejunum.
13. Nosocomial infection is an infection acquired while
a patient is in a hospital.
14. Percutaneous Endoscopic Gastrostomy (PEG) catheter
is a flexible tube inserted through the mouth,
esophagus, and stomach to the outside of the body
with the aid of an endoscope. Name refers to the
placement procedure and is a variation of a
gastrostomy tube.
15. Polypectomy is a medical procedure for removal of
polyps (growths).
16. Transgastric pertains to a bypass of the stomach.
Transgastric tubes are placed through the skin and
into the stomach, with the distal tip terminating
in the jejunum, or elsewhere in the digestive
system.
17. A ventilator is a life support device used to
assist breathing.
ITEM 6. SELECTED CONSOLIDATED FINANCIAL DATA
FINANCIAL HIGHLIGHTS
SELECTED CONSOLIDATED FINANCIAL DATA
<TABLE>
<CAPTION>
1994 1993 1992 1991 1990
<S> <C> <C> <C> <C> <C>
Net Sales $65,062,801 $64,849,837 $49,787,199 $38,297,843 $29,151,103
Other
Income, Net 3,519,587 3,716,649 2,492,363 1,317,908 1,894,409
Net Income 16,180,377 18,540,009 13,464,291 7,824,274 5,718,154
Net Income
Per Common
Share .60 .68 .49 .30 .23
Total Assets 92,639,225 80,291,809 58,801,704 37,509,132 24,962,052
Cash
Dividends
Declared
Per Share None .0497 .0375 .0300 .0233
</TABLE>
All per share income and dividend information has been
adjusted to give effect to stock splits which have occurred.
The consolidated financial data shown above includes the
accounts of Ballard Medical Products and its wholly-owned
subsidiaries, MIC, BI, and BREH. The consolidated financial
data for 1993 includes the accounts of MIC as of February 26,
1993, its date of acquisition. The subsidiary accounts of BI
and BREH did not materially affect the consolidated financial
data shown above.
SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA
(UNAUDITED)
<TABLE>
<CAPTION>
FISCAL YEAR 1994
QUARTERS ENDED: 9/30/94 6/30/94 3/31/94 12/31/93
<S> <C> <C> <C> <C>
Net Sales $12,534,754 $18,445,692 $18,047,000 $16,035,355
Gross Margin 7,099,945 12,626,642 12,898,597 11,186,038
Income Before
Cumulative Effect
of Change in
Accounting for
Income Taxes 1,287,145 4,338,014 4,860,000 4,291,986
Cumulative Effect
of Change in
Accounting for
Income Taxes 1,403,232
Net Income 1,287,145 4,338,014 4,860,000 5,695,218
Per Common Share:
Income Before
Cumulative Effect
of Accounting
Change 0.047 0.160 0.178 0.158
Cumulative Effect
of Accounting
Change 0.052
Net Income 0.047 0.160 0.178 0.210
</TABLE>
<TABLE>
<CAPTION>
FISCAL YEAR 1993
QUARTERS ENDED: 9/30/93 6/30/93 3/31/93 12/31/92
<S> <C> <C> <C> <C>
Net Sales $17,128,947 $16,681,105 $16,287,999 $14,751,786
Gross Margin 12,108,694 11,901,544 11,631,531 9,888,173
Net Income 5,011,673 4,795,118 4,615,398 4,117,820
Net Income Per
Common Share 0.183 0.175 0.168 0.150
</TABLE>
The quarterly data for the quarters beginning 3/31/93
includes the accounts of Ballard's subsidiary, MIC, which was
acquired February 26, 1993. See analysis of net sales,
margins, and net income in Part II, Item 7 of Management's
Discussion and Analysis of Financial Condition and Results of
Operations, incorporated by reference from the Company's 1994
Annual Report.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Date: June 14, 1995 BALLARD MEDICAL PRODUCTS
By: Dale H. Ballard
President, Director
(Principal Executive Officer)
Pursuant to the requirements of the Securities Exchange
Act of 1934, this report has been signed below by the following
persons on behalf of the Registrant and in the capacities and
on the dates indicated.
Date: June 14, 1995 By: Dale H. Ballard
Director
Date: June 14, 1995 By: E. Martin Chamberlain
Director
Date: June 14, 1995 By: Dale H. Ballard, Jr.
Director
Date: June 14, 1995 By: Paul W. Hess
Director
Date: June 14, 1995 By: Kenneth R. Sorenson
Treasurer
(Principal Accounting Officer)
