SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15d of the
Securities and Exchange Act of 1934
---------------------------
Date of Report (Date of earliest
event reported) July 31, 1998
WLR Foods, Inc.
(Exact name of registrant as specified in its charter)
Virginia 0-17060 54-1295923
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
P.O. Box 7000 22815
Broadway, Virginia (Zip Code)
(Address of Principal executive offices)
(540) 896-7001
(Registrant's telephone number,
including area code)
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Amendment No. 1
The undersigned hereby amends the following items, financial
statements, exhibits or other portions of its current report on Form
8-K previously filed with the Commission on August 14, 1998.
Item 7.
(b) Pro forma combined financial information.
The Pro Forma Condensed Consolidated Balance Sheet of the
Registrant as of June 27, 1998 reflects the financial position of the
Registrant after giving effect to the disposition of the Registrant s
Cassco Ice & Cold Storage, Inc. subsidiary described in Item 2 and
assumes the disposition took place on June 27, 1998. The Pro Forma
Consolidated Statements of Operations are not included in the current
filing since this information was fully reflected in the previously
filed Form 10K for the fiscal year ended June 27, 1998.
The unaudited pro forma condensed consolidated balance sheet
presented herein is shown for illustrative purposes only and is not
necessarily indicative of the future financial position, or of the
financial position of the Registrant that would have actually occurred
had the transaction been in effect as of the date presented.
The unaudited pro forma condensed consolidated balance sheet
should be read in conjunction with the historical financial statements
and related notes of the Registrant.
Item 7.(b)
WLR Foods, Inc.
PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)
June 27, 1998
(In thousands)
Pro Forma
As Reported Adjustments Pro Forma
------------ ----------- ---------
Assets
Current Assets
Cash and equivalents $ 335 $ 0 $ 335
Accounts receivable,
net 72,457 (4,225) 68,232
Inventories 128,031 (1,213) 126,818
Income taxes receivable 1,002 0 1,002
Other current assets 1,870 (228) 1,642
-------- -------- --------
Total current assets 203,695 (5,666) 198,029
Property, plant and
equipment, net 153,702 (22,841) 130,861
Deferred income taxes 18,247 0 18,247
Other assets 6,098 (398) 5,700
-------- -------- --------
Total Assets $381,742 ($28,905) $352,837
======== ======== ========
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Liabilities and Share-
holders' Equity
Current Liabilities
Current maturities of
long-term debt $ 3,452 ($ 529) $ 2,923
Excess checks over bank
balances 9,925 (463) 9,462
Trade accounts payable 28,742 (1,129) 27,613
Accrued expenses and
other 32,245 9,645 41,890
Deferred income taxes 10,636 0 10,636
-------- -------- --------
Total current
liabilities 85,000 7,524 92,524
Long-term debt, excluding
current maturities 189,225 (54,241) 134,984
Other liabilities and
deferred credits 3,626 (111) 3,515
Commitments and other
matters 0 0 0
Shareholders' equity
Common stock, no par
value 67,851 0 67,851
Additional paid-in
capital 2,974 0 2,974
Retained earnings 33,066 17,923 50,989
-------- -------- --------
Total shareholders'
equity 103,891 17,923 121,814
-------- -------- --------
Total Liabilities and
Shareholders' Equity $381,742 ($28,905) $352,837
======== ======== ========
(a) The net cash proceeds from the sale of approximately $54 million
were used to reduce long term debt.
(b) Retained earnings reflects an after-tax gain from the sale of
approximately $18 million.
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SIGNATURE
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.
WLR Foods, Inc.
By:__/s/ Dale S. Lam__
Dale S. Lam
Vice President of Finance
and Treasurer
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