UNITED STATES
SECURITIES and EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
--- EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 1996 OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
- --- EXCHANGE ACT OF 1934
For the transition period from ___________ to ___________
Commission File Number 1-9997
KOGER EQUITY, INC.
(Exact name of registrant as specified in its charter)
FLORIDA 59-2898045
(State or other jurisdiction of (I.R.S. Employer
incorporation or organizatio Identification No.)
3986 BOULEVARD CENTER DRIVE, SUITE 101
JACKSONVILLE, FLORIDA 32207
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (904) 398-3403
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 close of the latest practicable date.
Class Outstanding at November 1, 1996
Common Stock, $.01 par value 20,886,436 shares
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EXHIBIT 11
EARNINGS PER SHARE COMPUTATIONS
(In Thousands Except Per Share Data)
Three Month Period Nine Month Period
Ended September 30, Ended September 30,
------------------- -------------------
1996 1995 1996 1995
---- ---- ---- ----
EARNINGS PER COMMON AND DILUTIVE
COMMON EQUIVALENT SHARE:
<S> <C> <C> <C> <C>
Net Income $ 2,261 $18,983 $ 7,491 $23,213
======= ======= ======= =======
Shares:
Weighted average number of common
shares outstanding 17,873 17,745 17,839 17,715
Weighted average number of additional
shares issuable for common stock
equivalents (a) 1,088 412 902 201
------- ------- ------- -------
Adjusted common shares 18,961 18,157 18,741 17,916
======= ======= ======= =======
EARNINGS PER SHARE $ 0.12 $ 1.05 $ 0.40 $ 1.30
======= ======= ======== =======
EARNINGS PER COMMON SHARE ASSUMING
FULL DILUTION:
Net Income $ 2,261 $18,983 $ 7,491 $23,213
======= ======= ======= =======
Shares:
Weighted average number of common
shares outstanding 17,873 17,745 17,839 17,715
Weighted average number of additional shares
issuable for all dilutive common stock
equivalents (a) 1,170 572 939 255
------- ------- ------- -------
Shares as adjusted for all dilutants 19,043 18,317 18,778 17,970
======= ======== ======= =======
EARNINGS PER SHARE $ 0.12 $ 1.04 $ 0.40 $ 1.29
======= ========= ======== =======
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(a) Shares issuable were derived using the "Treasury Stock Method" for all
dilutive common stock equivalents.
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- -
EXHIBIT 15
November 4, 1996
Koger Equity, Inc.
3986 Boulevard Center Drive
Jacksonville, Florida 32207
We have made a review, in accordance with standards established by the American
Institute of Certified Public Accountants, of the unaudited interim financial
information of Koger Equity, Inc. and subsidiaries for the periods ended
September 30, 1996 and 1995, as indicated in our report dated November 4, 1996;
because we did not perform an audit, we expressed no opinion on such financial
information.
We are aware that our report referred to above, which is included in your
Quarterly Report on Form 10-Q for the quarter ended September 30, 1996, is
incorporated by reference in Registration Statement No. 33-55179 on Form S-3 and
Registration Statement No. 33-54617 on Form S-8.
We also are aware that the aforementioned report, pursuant to Rule 436(c) under
the Securities Act of 1933, is not considered a part of the Registration
Statement prepared or certified by an accountant or a report prepared or
certified by an accountant within the meaning of Sections 7 and 11 of that Act.
DELOITTE & TOUCHE LLP
Jacksonville, Florida
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