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FORM 10-QSB/A-1
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 February 28, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from
Commission file number 01-10076
APPLIED RESEARCH CORPORATION
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(Exact name of small business issuer as specified in its charter)
Colorado 86-0585693
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification Number)
8201 Corporate Drive, Suite 1120, Landover, Maryland 20785
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(Address of principal executive offices) (Zip
Code)
(301) 459-8442
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(Registrant's telephone number, including area code)
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(Former name, former address and former fiscal year, if changed since last
report)
Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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 [ ]
As of April 14, 1997, the Company had 6,311,083 shares of its $.01 par value
common stock outstanding.
Transitional Small Business Disclosure Format (check one): Yes [ ] No [ X ]
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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.
APPLIED RESEARCH CORPORATION
Date: April 21, 1997 By: Dr. S.P.S. Anand
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Dr. S.P.S. Anand
President and Chief Executive Officer
Date: April 21, 1997 By: Dennis H. O'Brien
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Dennis H. O'Brien
Vice President and Chief Financial
Officer
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND CONSOLIDATED STATEMENTS OF OPERATION FOUND ON
PAGES 3 THROUGH 6 OF THE COMPANY'S FORM 10-QSB FOR THE NINE MONTHS ENDED
FEBRUARY 28, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS
</LEGEND>
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> MAY-31-1996
<PERIOD-END> FEB-28-1997
<CASH> 50,447
<SECURITIES> 0
<RECEIVABLES> 1,446,019
<ALLOWANCES> (25,000)
<INVENTORY> 222
<CURRENT-ASSETS> 1,484,338
<PP&E> 795,774
<DEPRECIATION> 697,441
<TOTAL-ASSETS> 1,617,339
<CURRENT-LIABILITIES> 3,834,390
<BONDS> 0
0
0
<COMMON> 3,155
<OTHER-SE> (3,360,735)
<TOTAL-LIABILITY-AND-EQUITY> 1,617,339
<SALES> 413,454
<TOTAL-REVENUES> 413,454
<CGS> 435,474
<TOTAL-COSTS> 435,474
<OTHER-EXPENSES> 4,018
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,151
<INCOME-PRETAX> (114,902)
<INCOME-TAX> 0
<INCOME-CONTINUING> (114,902)
<DISCONTINUED> (88,864)
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (114,902)
<EPS-PRIMARY> (0.01)
<EPS-DILUTED> (0.01)
</TABLE>
