SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 27, 1997
OR
___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to _________
Commission file number 1-9838
NS GROUP, INC.
Exact name of registrant as specified in its charter
KENTUCKY 61-0985936
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
Ninth and Lowell Streets, Newport, Kentucky 41072
(Address of principal executive offices)
Registrant's telephone number, including area code (606)
292-6809
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 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. YES X
NO _____
Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest
practicable date.
Common stock, no par value 24,130,367
(Class) (Outstanding at January 30, 1998)
NS GROUP, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 27, 1997 AND SEPTEMBER 27, 1997
(Dollars in thousands) (Unaudited)
December 27, September 27,
CURRENT ASSETS 1 9 9 7 1 9 9 7
Cash $ 5,646 $ 6,998
Short-term investments 154,969 128,828
Funds held for debt called
for redemption 59,517
Accounts receivable, less
allowance for doubtful
accounts of $700 and $712,
respectively 62,045 63,151
Inventories 79,362 73,474
Other current assets 29,104 32,953
Total current assets
331,126 364,921
PROPERTY, PLANT AND EQUIPMENT 283,425 278,779
Less - accumulated
depreciation (159,262) (154,962)
124,163 123,817
OTHER ASSETS 10,306 11,578
Total assets $465,595 $500,316
CURRENT LIABILITIES
Notes payable $ 364 $ 722
Payments due on debt called
for redemption 59,517
Accounts payable 48,521 47,667
Other current liabilities 30,743 28,126
Current portion of long-term
debt 1,958 1,958
Total current liabilities 81,586 137,990
LONG-TERM DEBT 76,330 76,424
DEFERRED TAXES 12,404 13,087
COMMON SHAREHOLDERS' EQUITY
Common stock, no par value 278,332 261,368
Common stock options and
warrants 1,221 1,612
Unrealized loss on available
for sale securities (1,888) (1,238)
Retained earnings 17,610 11,073
Total common shareholders'
equity 295,275 272,815
Total liabilities and
shareholders' equity $465,595 $500,316
This Condensed Consolidated Balance Sheet corrects the December
27, 1997 amount for the line item "Accounts receivable, less
allowance for doubtful accounts of $700 and $712, respectively,"
from $2,045 to $62,045.
The accompanying notes to condensed consolidated financial
statements are an integral part of these statements.
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.
NS GROUP, INC.
Date: February 9, 1998 By: /s/Clifford R. Borland
Clifford R. Borland
Chairman and Chief
Executive Officer
Date: February 9, 1998 By: /s/John R. Parker
John R. Parker
Vice President and Treasurer
