AURA SYSTEMS INC
10-Q/A, 1995-08-31
ELECTRONIC COMPONENTS, NEC
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<PAGE>

=============================================================================== 

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                     
                                  FORM 10-Q/A      


                 QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934


For the Quarter Ended May 31, 1995                Commission File Number 0-17249



                               AURA SYSTEMS, INC.
             (Exact name of Registrant as specified in its charter)

          DELAWARE                                        95-4106894
  (State or other jurisdiction              (I.R.S. Employer Identification No.)
of incorporation or organization)

                                2335 ALASKA AVE.
                          EL SEGUNDO, CALIFORNIA 90245
                    (Address of principal executive offices)

Registrant's telephone number, including area code:    (310) 643-5300

Former name, former address and former fiscal year, if changed since last
report: None


     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                 Outstanding at July 13, 1995
                  -----                 ----------------------------

         Common Stock, par value             50,056,634 Shares
            $.005 per share

================================================================================
<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 thereunto duly authorized.



                                                       AURA SYSTEMS, INC.
                                              ----------------------------------
                                                          (Registrant)


    
Date:    AUGUST 25, 1995                   By:   /s/     Steven C. Veen
         ---------------                      ----------------------------------
                                                         STEVEN C. VEEN
                                                         Vice President
                                                     Chief Financial Officer
                                                    (Principal Financial and
                                                        Accounting Officer)

                                       13
<PAGE>
 
    
                               INDEX TO EXHIBITS 
                               -----------------

Exhibit No.                 Description
- -----------                 -----------
    27              Financial Data Schedule
     


<TABLE> <S> <C>

<PAGE>

<ARTICLE> 5
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          FEB-28-1995
<PERIOD-START>                             MAR-01-1995
<PERIOD-END>                               MAY-31-1995
<CASH>                                       9,102,891
<SECURITIES>                                         0
<RECEIVABLES>                               31,620,622
<ALLOWANCES>                                         0
<INVENTORY>                                 15,447,538
<CURRENT-ASSETS>                            62,823,665
<PP&E>                                      23,770,881
<DEPRECIATION>                               5,626,360
<TOTAL-ASSETS>                              88,329,887
<CURRENT-LIABILITIES>                       14,453,317
<BONDS>                                              0
<COMMON>                                   112,119,260
                                0
                                          0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                88,329,887
<SALES>                                      9,525,368
<TOTAL-REVENUES>                             9,525,368
<CGS>                                        7,272,034
<TOTAL-COSTS>                                7,272,034
<OTHER-EXPENSES>                             2,935,626
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              77,251
<INCOME-PRETAX>                              (759,543)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          (759,543)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (759,543)
<EPS-PRIMARY>                                    (.02)
<EPS-DILUTED>                                        0
        

</TABLE>


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