FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
THE FOLLOWING IS AN AMENDMENT TO THE SECOND QUARTER 10-Q FOR PERIOD ENDED
JUNE 30, 1997 TO AMEND THE JUNE 30, 1997 RETAINED EARNINGS ON THE CONSOLIDATED
BALANCE SHEET, PAGE 3 OF 9.
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For Quarter Ended June 30, 1997
Commission File Number 0-14827
NATIONAL SANITARY SUPPLY COMPANY
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 31-1079482
- ------------------------------------------------------------------------------
(State or other jurisdiction of (IRS Employer Identification
incorporation of organization) No.)
255 E. 5th St, Suite 2900 Cincinnati, OH 45202-4790
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
(513) 762-6500
- ------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
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.
Class Amount Date
- ----- ------ ----
Common Stock 6,269,824 Shares July 31, 1997
$1 Par Value
Page 1 of 9<PAGE>
Part I. Financial Information
Item 1. Financial Statements
NATIONAL SANITARY SUPPLY COMPANY
CONSOLIDATED BALANCE SHEET
(Unaudited)
<TABLE>
<CAPTION>
June 30, December 31,
(thousands, except share data) 1997 1996
- ----------------------------------- ---------- -----------
<S> <C> <C>
ASSETS
Current assets:
Cash and cash equivalants $ 1,114 $ 1,425
Accounts receivable, less allowances
(1997- $1,064; 1996- $1,071) 36,080 34,856
Inventories 27,049 27,614
Deferred income taxes 2,230 2,366
Prepaid expenses and other current assets 1,786 1,088
---------- ----------
Total current assets 68,259 67,349
Properties and equipment, at cost, less
accumulated depreciation 23,055 21,992
Goodwill, less accumulated amortization 25,679 25,872
Other assets 1,022 771
---------- ----------
Total assets $ 118,015 $ 115,984
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 19,467 $ 19,424
Accrued liabilities 11,186 13,349
Loans payable to Chemed Corporation 3,097 540
Current portion of notes to Chemed Corporation 9,000 1,000
---------- ----------
Total current liabilities 42,750 34,313
Notes to Chemed Corporation 6,000 14,000
Deferred income taxes 893 849
Other noncurrent liabilities 1,153 1,298
---------- ----------
Total liabilities 50,796 50,460
---------- ----------
Stockholders' equity:
Preferred stock - 1,000,000 shares authorized,
$1 par value (none issued) - -
Common stock - 7,000,000 shares authorized,
$1 par value (issued: 1997- 6,870,288 shares;
1996- 6,644,466 shares) 6,870 6,644
Paid-in capital 29,833 27,658
Retained earnings 36,348 35,499
Treasury stock, at cost (1997- 600,464
shares; 1996- 482,447 shares) (5,832) (4,277)
---------- ----------
Total stockholders' equity 67,219 65,524
---------- ----------
Total liabilities and stockholders' equity $ 118,015 $ 115,984
========== ==========
</TABLE>
The accompanying notes are an integral part of the financial statements.
Page 3 of 9<PAGE>
Part II. Other Information
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
--------
<TABLE>
<CAPTION>
SK 601
Exhibit No. Ref. No. Description Page No.
- ----------- -------- ----------- --------
<C> <C> <S> <C>
1 (11) Statement re: E-1
Computation of
Earnings Per Share
2 (27) Financial Data Schedule E-2
3 (10) Sublease Agreement E-3 through E-8
of March 15, 1991 with
Chemed Corporation
</TABLE>
(b) Reports on Form 8-K
-------------------
No reports on Form 8-K were filed during the quarter ended June 30, 1997.
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.
National Sanitary Supply Company
--------------------------------
(Registrant)
Date August 14, 1997 By /s/Paul C. Voet
------------------ ----------------------------------
Paul C. Voet
President and
Chief Executive Officer
Date August 14, 1997 By /s/Gary H. Sander
------------------ ----------------------------------
Gary H. Sander
Senior Vice President,
Treasurer, and
Chief Financial Officer
10-Q/A
Date August 29, 1997 By /s/Gary H. Sander
------------------ ----------------------------------
Gary H. Sander
Senior Vice President,
Treasurer, and
Chief Financial Officer
Page 8 of 9<PAGE>