U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
AMENDMENT NO. 1
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1997.
Commission File No. 0-15205
ELCOTEL, INC.
(Exact name of registrant as specified in its charter)
Delaware 59-2518405
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6428 Parkland Drive, Sarasota, Florida 34243
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(Address of principal executive offices)
(Zip Code)
(941) 758-0389
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name, former address and former fiscal year, if changed since
last report)
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 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
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The number of shares of the issuer's Common Stock outstanding as of
August 12, 1997 was 8,182,216.
<PAGE>
AMENDMENT NO. 1 TO QUARTERLY REPORT ON FORM 10-Q
FOR QUARTER ENDED JUNE 30, 1997
The undersigned registrant hereby amends Item 1. Financial Statements
of its Quarterly Report on Form 10-Q for the quarter ended June 30, 1997 for
the the sole purpose of filing a revision to the CONDENSED CONSOLIDATED BALANCE
SHEETS as of June 30, 1997.
<TABLE>
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
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ELCOTEL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
<CAPTION>
June 30, March 31,
1997 1997
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(Unaudited) (See Note)
<S> <C> <C>
ASSETS
CURRENT ASSETS
Cash and temporary investments $1 $1,009
Accounts receivable, net 4,824 4,678
Notes receivable, net 2,473 1,318
Inventories 3,561 2,733
Refundable income taxes 95 95
Deferred tax asset 692 692
Prepaid expenses and other current as 499 457
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TOTAL CURRENT ASSETS 12,145 10,982
Property, plant and equipment, net 3,287 3,184
Notes receivable, noncurrent 692 711
Deferred tax asset 799 799
Other assets 281 268
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$17,204 $15,944
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LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses $3,295 $2,886
Line of credit 525 -
Current portion of long-term debt 199 199
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TOTAL CURRENT LIABILITIES 4,019 3,085
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LONG TERM DEBT, less current portion 183 232
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SHAREHOLDERS' EQUITY:
Common Stock 82 82
Additional paid-in capital 11,160 11,160
Retained earnings 1,937 1,562
Less treasury stock (177) (177)
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13,002 12,627
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$17,204 $15,944
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<FN>
Note: The balance sheet at March 31, 1997, has been derived
from the audited financial statements.
See Notes to Condensed Consolidated Financial Statements
</TABLE>
<PAGE> 1
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.
Elcotel, Inc.
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(Registrant)
Date: August 26, 1997 By: /s/ Ronald M. Tobin
Ronald M. Tobin
Vice President
(Principal Financial Officer and
Chief Accounting Officer)
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