UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(Amendment No. 1)
(Mark One)
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1998
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number 0-16225
EMCON
(Exact name of Registrant as specified in its charter)
California 94-1738964
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
400 South El Camino Real, Suite 1200
San Mateo, California
94402
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (650) 375-1522
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 [ ]
8,715,464 shares of Common Stock Issued and Outstanding as of May 8, 1998.
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Amendment No. 1
The undersigned registrant hereby amends the following items of its
Form 10-Q for the period ended March 31, 1998: Form 10Q filed with the
Securities and Exchange Commission on May 12, 1998. The segment reporting on
pages 9 and 10 for the quarter ended March 31, 1997 has been amended to correct
the depreciation and allocation amounts to its segments. There were no changes
to the consolidated numbers.
<TABLE>
<CAPTION>
Segment Information
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(Three months ended March 31, 1998) PSD EOC CAS Other Total
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<S> <C> <C> <C> <C> <C>
Gross revenues from:
External customers $18,047 $10,732 N/A $ -- $28,779
Intersegment revenues 197 524 N/A -- 721
Outside services from:
External subcontractors 2,872 85 N/A -- 2,957
Intersegment services 572 151 N/A -- 723
Net revenues 14,800 11,020 N/A 2 25,822
Depreciation expense 553 343 N/A 71 967
Amortization expense -- 15 N/A 138 153
Segment operating profit (loss) before 721 881 N/A -- 1,602
allocations
Segment operating profit (loss) after allocations (230) 382 N/A (9) 143
Segment assets(1)
Accounts receivable, net $21,215 $10,252 N/A $ -- $31,467
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(Three months ended March 31, 1997)
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Gross revenues from:
External customers $20,916 $5,988 $ 4,453 $ 6 $31,363
Intersegment revenues 331 580 734 -- 1,645
Outside services from:
External subcontractors 3,507 -- 275 -- 3,782
Intersegment services 1,479 132 8 -- 1,619
Net revenues 16,261 6,436 4,904 (20) 27,581
Depreciation expense 560 281 462 52 1,355
Amortization expense -- 15 -- 136 151
Restructuring/other charges -- -- -- (75) (75)
Loss on disposition of laboratory -- -- -- 333 333
Gain on sale of assets -- 826 -- -- 826
Segment operating profit (loss) before 1,384 1,072 108 -- 2,564
allocations
Segment operating profit (loss) after allocations 832 737 (45) (207) 1,317
Segment assets(1)
Accounts receivable, net $26,807 $7,808 $ -- $ -- $34,615
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</TABLE>
(1) The Company reviews its consolidated balance sheet and reviews only
accounts receivable on a segment basis.
<PAGE>
<TABLE>
<CAPTION>
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Three months ended March 31, 1998 1997
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<S> <C> <C>
Revenues
Total external revenues for reportable segments $28,779 $31,357
Intersegment revenues for reportable segments 721 1,645
Other revenues -- 6
Elimination of intersegment revenues (721) (1,645)
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Total gross consolidated revenues 28,779 31,363
Less outside services 2,957 3,782
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Total net revenue $25,822 $27,581
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Profit or Loss
Total operating profit for reportable segments before allocations $1,602 $2,564
Overhead allocations expense (1,450) (1,040)
Unallocated overhead (9) (207)
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Total operating profit after allocations 143 1,317
Interest income 168 94
Interest expense (293) (331)
Equity earnings 15 18
Minority interest 22 (35)
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Income before income taxes $ 55 $1,063
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March 31, 1998 1997
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Assets
Accounts receivable for reportable segments $31,467 $34,615
Other current assets 19,644 14,116
Net property and equipment at cost 15,521 14,552
Goodwill, net of amortization 13,778 13,501
Other assets 9,444 12,629
------- -------
Total consolidated assets $89,854 $89,413
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</TABLE>
<PAGE>
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 hereunto duly authorized.
EMCON
Date: July 22, 1998 By: /o/ R. Michael Momboisse
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R. Michael Momboisse
Chief Financial Officer and Vice
President - Legal
