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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1 TO FORM 10-K/A
Annual Report pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the fiscal year ended June 29, 1996 Commission file number 0-14742
CANDELA CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 04-2477008
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
530 Boston Post Road, Wayland, Massachusetts 01778
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (508) 358-7400
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Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.01 par value
Common Stock Purchase Warrants
(Title of Class)
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 [ ] No [ ]
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 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. [ ]
As of September 20, 1996, 5,387,059 shares of the registrant's Common
Stock, $.01 par value, were issued and outstanding. The aggregate market value
of the registrant's voting stock held by non-affiliates of the registrant as of
September 20, 1996, based upon the closing price of such stock on The NASDAQ
Stock Market on that date, was approximately $14,050,000.
DOCUMENTS INCORPORATED BY REFERENCE
Documents Form 10-K Reference
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Proxy Statement for the Annual Meeting of
Shareholders to be held on November 21, 1996 Part III
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The undersigned registrant hereby amends and restates Item 5 of its Annual
Report on Form 10-K for the fiscal year ended June 29, 1996 so that as so
amended and restated said Item 5 shall read in its entirety as set forth on the
pages attached hereto.
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PART II
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Item 5. Market for the Registrant's Common Equity and Related Stockholder
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Matters
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The Company's common stock trades on The NASDAQ Stock Market under the
symbol "CLZR."
At September 20, 1996, there were 442 holders of record of the Company's
common stock and the last sales price of the Company's common stock was $5 3/4
on that day.
The following table sets forth quarterly high and low prices of the common
stock for the indicated fiscal periods:
1996 1995
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High Low High Low
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First Quarter $ 4 3/4 $1 15/16 $4 1/4 $ 2 5/8
Second Quarter 5 7/8 3 1/2 3 1/4 1 3/8
Third Quarter 8 1/8 4 9/16 2 7/8 1 7/16
Fourth Quarter 11 1/4 7 3 1 3/4
The Company has never paid a cash dividend and has no present intention to
pay cash dividends in the foreseeable future. The Board of Directors currently
intends to retain any future earnings for use in the Company's business.
Item 6. Selected Financial Data
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The table set forth below contains certain financial data for each of the
last five fiscal years of the Company. This data should be read in conjunction
with the detailed information, financial statements and notes thereto, as well
as Management's Discussion and Analysis of Financial Condition and Results of
Operations included elsewhere herein.
(in thousands, except per share data)
Statement of Operations
Data: 1996 1995 1994 1993 1992
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Revenue $30,413 $28,244 $29,820 $33,158 $35,410
Gross profit 13,580 12,376 13,765 13,434 19,763
Income (loss) from
operations 1,889 (1,603) 714 (9,106) 3,809
Income (loss) before
extraordinary item 1,245 (1,536) 655 (9,208) 2,729
Net income (loss) 1,245 (1,536) 655 (9,208) 3,729
Income (loss) per
share:
Before
extraordinary item .22 (.29) .13 (1.78) .51
Net income (loss) .22 (.29) .13 (1.78) .70
Weighted average
number of common
and common
equivalent shares
outstanding 5,563 5,288 5,218 5,180 5,304
June 29, July 1, July 2, July 3, June 27,
Balance Sheet Data: 1996 1995 1994 1993 1992
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Working capital $ 8,608 $ 8,033 $ 9,109 $ 8,775 $17,611
Total assets 19,334 16,832 20,447 20,269 28,697
Current portion of
long-term debt 708 470 102 114 83
Long-term debt 557 476 223 305 330
Stockholders' equity 9,965 9,086 10,566 9,671 18,432
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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, on October 2,
1996.
CANDELA CORPORATION
By: /s/ Gerard E. Puorro
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Gerard E. Puorro, President, Chief
Executive Officer, Acting Chief Financial
Officer and Director
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