<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
[X]ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934
For the fiscal year ended December 31, 1994
[ ]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 1-10665
U.S. INTEC, INC.
(Exact name of registrant as specified in its charter)
Texas 74-2118350
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1212 Brai Drive 77643
Port Arthur, Texas (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (409)724-7024
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange on
Title of each class which registered
Common Stock, par value $.02 per share American Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:
NONE
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
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Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K 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______.
Aggregate market value of the 1,259,650 shares of Common Stock held by
non-affiliates of the registrant at the closing sales price on March 27, 1995:
$8,502,638.
Number of shares of Common Stock outstanding as of the close of business on
March 27, 1995: 3,018,411.
Documents incorporated by reference:
Portions of the definitive proxy statement relating to the 1995 Annual
Meeting of Shareholders of U. S. Intec, Inc., which will be filed within 120
days of December 31, 1994, are incorporated by reference in Part III of this
report.
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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, in the City of
Port Arthur, Texas, on MAY 24, 1995.
U.S. Intec, Inc.
By [SIGNATURE OF J. Roane Ruddy APPEARS HERE]
------------------------------------------
J. Roane Ruddy
Chief Financial
Officer
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Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K.
(a) Financial Statements and Financial Statement Schedules.
(1) Financial Statements-
Page
Report of Independent Auditors......................................... F-2
Consolidated Balance Sheets as of December 31, 1994 and
1993................................................................ F-3
Consolidated Statements of Earnings for the Three Years Ended
December 31, 1994................................................... F-5
Consolidated Statements of Shareholders' Equity for the Three
Years Ended December 31, 1994....................................... F-6
Consolidated Statements of Cash Flows for the Three Years Ended
December 31, 1994................................................... F-7
Notes to the Consolidated Financial Statements. ....................... F-9
(2) Schedules Supporting Financial Statements-
Schedule VIII-Valuation and Qualifying Accounts........................ F-19
Other schedules for which provision is made in the applicable accounting
regulations of the Securities and Exchange Commission are either not required
under the related instructions or inapplicable.
(3) Listing of Exhibits-See Item 14(c).
(b) Current Reports on Form 8-K.
None
(c) Exhibits.
*10(a)- Lease agreement, effective as of February 1, 1993, by and between U.S.
Intec, Inc., as Lessor, and Thunderhawk Manufacturing Company, L.P., as
Lessee, pertaining to the Company's Georgia plant facility located in
Walton County, Georgia, together with purchase option. (See form 10-K
for 1992 filed March 1993).
*10(b)- Amendment to the security agreement between U.S. Intec, Inc. and
LaSalle National Bank of Chicago, formerly Exchange National Bank of
Chicago, dated February 8, 1994. (See form 10-K for 1993 filed March
1994).
*10(c)- Promissory Note and related Letter Agreement between U.S. Intec, Inc.
and Danny J. Adair effective December 31, 1993. (See form 10-K for
1993 filed March 1994).
*10(d)- Asset Purchase Agreement between U.S. Intec, Inc. and Betontex, Inc.
dated as of September 8, 1993. (See form 10-K for 1993 filed March
1994).
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*21 - List of Subsidiaries of U.S. Intec, Inc (see Form 10-K for 1990 filed
in March 1991).
23(a)- Consent of Independent Auditors.
27 - Financial Data Schedule.
* Incorporated herein by reference as indicated.
(d) Not applicable.
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EXHIBIT 27
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 1994 AND CONSOLIDATED STATEMENT
OF EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1994 OF U.S. INTEC, INC. AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
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<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<CASH> 867,701
<SECURITIES> 0
<RECEIVABLES> 13,796,475
<ALLOWANCES> 515,461
<INVENTORY> 12,787,871
<CURRENT-ASSETS> 29,250,265
<PP&E> 68,673,971
<DEPRECIATION> 25,470,696
<TOTAL-ASSETS> 77,973,129
<CURRENT-LIABILITIES> 20,688,377
<BONDS> 0
<COMMON> 60,619
0
0
<OTHER-SE> 22,729,816
<TOTAL-LIABILITY-AND-EQUITY> 77,973,129
<SALES> 95,621,644
<TOTAL-REVENUES> 95,621,644
<CGS> 74,423,981
<TOTAL-COSTS> 93,118,449
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,199,801
<INCOME-PRETAX> 1,679,462
<INCOME-TAX> 688,579
<INCOME-CONTINUING> 990,883
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 990,883
<EPS-PRIMARY> .33
<EPS-DILUTED> .33
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