<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 7, 1996
------------------------------
MBf USA, Inc.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Maryland 0-17458 73-1326131
- ------------------------------------------------------------------------------
(State of or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
500 Park Boulevard, Suite 1260, Itasca, Illinois 60143
- ------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (708) 285-9191
----------------------------
N/A
- --------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 5. OTHER EVENTS.
-------------
MBf USA, Inc. (the "Company") announced on May 7, 1996 financial
results for the quarter ended March 31, 1996.
MBf USA reported record revenues for the first quarter ended March 31,
1996 of $11,975,279, a 20.1% increase from $9,968,958 in the comparable period
in 1995. The Company reported that the increase in revenues was primarily
attributable to the continued growth in glove sales by the Company's American
Health Products Corporation subsidiary.
The Company recorded a net loss for the first quarter of 1996 of
$240,953, or $.08 per share, which when compared to the net loss of the first
quarter of 1995 of $686,816, or $.28 per share, demonstrates an improvement of
$445,853. The Company reported that the net loss in the first quarter of 1996
was primarily due to the expansion of the Company's international condom
business.
2
<PAGE> 3
EXHIBITS
99. ADDITIONAL EXHIBITS.
--------------------
1. Press Release dated May 7, 1996.
3
<PAGE> 4
(MBF-USA) (MBFA) MBf USA, INC. ANNOUNCES RECORD FIRST QUARTER
ITASCA, Ill.--May 7, 1996--MBf USA, Inc. (The Nasdaq SmallCap Stock
Market: MBFA) today announced financial results for the quarter ended March 31,
1996. (See Attached Table)
MBf USA reported record revenues for the first quarter ended March 31,
1996 of $11,975,279, a 20.1% increase from $9,968,958 in the comparable period
in 1995. The increase in revenues was primarily attributable to the continued
growth in glove sales by the Company's American Health Products Corporation
subsidiary.
The Company recorded a net loss for the first quarter of 1996 of
$240,953, or $.08 per share, which when compared to the net loss of the first
quarter of 1995 of $686,816, or $.28 per share, demonstrates an improvement of
$445,853. The net loss in the first quarter of 1996 was primarily due to the
expansion of the Company's international condom business.
MBF USA's Chairman, Mr. Loi Heng Sewn, said, "Although sales of
condoms have improved to date in 1996, substantial expenditures in the form of
advertising and promotions are still required in order to establish a
competitive niche in the international condom market."
MBf USA, Inc. and its subsidiaries market Glovetex(R) brand and OEM
medical examination gloves in the United States and the world-famous Playboy(R)
brand condoms internationally.
<PAGE> 5
MBf USA, Inc.
<TABLE>
<CAPTION>
Three Months Three Months
Ended Ended
March 31, 1996 March 31, 1995
<S> <C> <C>
REVENUES $11,975,279 $9,968,958
PRE-TAX (LOSS) FROM (240,952) (678,379)
CONTINUING OPERATIONS
DISCONTINUED OPERATIONS --- (8,437)
PRE-TAX (LOSS) (240,953) (686,816)
TAX PROVISION 0 0
NET (LOSS) $ (240,953) $ (686,816)
NET (LOSS) PER SHARE $ (0.08) $ (0.28)
TOTAL WEIGHTED AVERAGE
SHARES OUTSTANDING $ 2,853,332 $2,458,973(a)
</TABLE>
(a) Gives retroactive effect to the one-for-ten reverse split effected on
December 18, 1995.
--30--esb/ny*
CONTACT: MBf USA, Inc.
Edward Marteka, President
Stephen Tan, CFO
(708) 285-9191
or
MBf USA's INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Terry Hosmer (212) 836-9610
Linda Latman (212) 836-9609
<PAGE> 6
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.
MBf USA, Inc.
(Registrant)
DATE: May 8, 1996 By: /s/ Edward J. Marteka
------------------------
Name: Edward J. Marteka
Title: President
4
