U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-QSB
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarter Ended Commission File No.
September 30, 1996 0-16161
ORIGINAL ITALIAN PASTA PRODUCTS CO. INC.
36 AUBURN STREET
CHELSEA, MA 02150
TELEPHONE (617) 884-5211
State of Incorporation I.R.S. Employer Identification No.
Massachusetts 04-2877789
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 twelve
months (or 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 September 30, 1996 the number of shares of Common Stock,
$.02 par value, outstanding were 1,899,885.
Original Italian Pasta Products Co. Inc.
INDEX PAGE
NO.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements: (Current years results are
unaudited)
Balance Sheets - As at September 30, 1996 and June 30, 1996 3
Statement of Operations:
Three months ended September 30, 1996 and September 30, 1995 4
Statement of Cash Flows:
Three months ended September 30, 1996 and September 30, 1995 5
Notes to Financial Statements 6
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 7-9
PART II. OTHER INFORMATION
Item 1. Legal Proceedings 9-12
Item 6. Exhibits and Reports on Form 8-K 13
SIGNATURES 13
EXHIBIT 11 - Computation of Earnings Per Share 14
Original Italian Pasta Products Co. Inc.
Balance Sheet
(Unaudited)
Asset September 30, June 30,
1996 1996
Current Assets:
Cash and Cash Equivalents $ 210,000 $ 195,000
Accounts Receivable, net 559,000 665,000
Inventories (Note 3) 768,000 745,000
Prepaid expenses and other 16,000 62,000
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Total current assets 1,553,000 1,667,000
Property and equipment, net 1,387,000 1,382,000
Other assets, net 52,000 131,000
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Total Assets $ 2,992,000 $ 3,180,000
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Liabilities and Shareholders
Equity
Current Liabilities:
Current maturities of long-
term debt and capital lease $ 218,000 $ 284,000
Accounts Payable 1,193,000 1,056,000
Accrued Expenses 1,057,000 1,072,000
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