FORM 10-Q
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________
[X] Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
For the quarterly period ended March 30, 1996
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 1-7737
ARROW AUTOMOTIVE INDUSTRIES, INC.
________________________________________________________________________
(Exact name of registrant as specified in its charter)
____________MASSACHUSETTS_________ ___________04-1449115__________
(State or other jurisdiction of (I.R.S. Employer I.D. No.)
incorporation or organization)
3 SPEEN STREET, FRAMINGHAM, MASSACHUSETTS ___01701____
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (508) 872-3711
Indicate by check mark whether the registrant (1) has filed all reports 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: 2,873,083 shares of the
Company's Common Stock ($.10 par value) were outstanding as of May 6, 1996.
Page 1 of 18
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ARROW AUTOMOTIVE INDUSTRIES, INC.
PART II. OTHER INFORMATION
ITEM 1. Legal Proceedings.
None.
ITEM 2. Changes in Securities.
None.
ITEM 3. Default upon Senior Securities.
None.
ITEM 4. Submission of Matters to a Vote of Security Holders.
None.
ITEM 5. Other Information.
None.
ITEM 6. Exhibits and Reports on Form 8-K.
A. Exhibits
Exhibit 10.1 Fourth Amendment and Waiver Page 13
to Revolving Credit and Term
Loan Agreement with The
First National Bank of Boston
dated as of March 30, 1996
Exhibit 27. Financial Data Schedule Page 18
Page 11
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ARROW AUTOMOTIVE INDUSTRIES, INC.
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.
ARROW AUTOMOTIVE INDUSTRIES, INC.
(Registrant)
_____________________________________
Jim L. Osment
President and Chief Executive Officer
June 25, 1996 /s/ James F. Fagan
_____________________________________
Executive Vice President, Treasurer
and Chief Financial Officer
Page 12
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<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
BALANCE SHEET AND STATEMENT OF OPERATIONS, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> JUN-29-1996
<PERIOD-END> MAR-30-1996
<CASH> 446
<SECURITIES> 0
<RECEIVABLES> 15,464
<ALLOWANCES> 589
<INVENTORY> 37,842
<CURRENT-ASSETS> 56,447
<PP&E> 36,062
<DEPRECIATION> 23,164
<TOTAL-ASSETS> 71,374
<CURRENT-LIABILITIES> 17,594
<BONDS> 18,321
0
0
<COMMON> 297
<OTHER-SE> 31,622
<TOTAL-LIABILITY-AND-EQUITY> 71,374
<SALES> 79,101
<TOTAL-REVENUES> 79,101
<CGS> 62,843
<TOTAL-COSTS> 62,843
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,568
<INCOME-PRETAX> (1,281)
<INCOME-TAX> (460)
<INCOME-CONTINUING> (821)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (821)
<EPS-PRIMARY> (0.29)
<EPS-DILUTED> (0.29)
</TABLE>
