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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB/A1
(Mark One)
/X/ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1996
/ / TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM ____________ TO ____________
Commission file number 0-18863
American Body Armor & Equipment, Inc.
(Exact name of small business issuer as specified in its charter)
Florida 59-2044869
(State or Other Jurisdiction of (I.R.S. Employer Identification No.)
Incorporation or Organization)
191 Nassau Place Road, Yulee, Florida 32097
- -------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(904)261-4035
(Issuer's telephone number)
(Former name, former address and former fiscal year,
if changed since last report)
Check whether the issuer: (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 ___
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS
Check whether the registrant filed all documents and reports required to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court.
Yes X No ___
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's class of common
equity, as of July 26, 1996: $.03 par value Common Stock - 6,919,816 3%
Convertible $1.00 stated value Preferred Stock - 0
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PART II
Item 6. Exhibits & Reports on Form 8-K
a. Exhibits
The following Exhibit is hereby filed as part of this Quarterly
Report on Form 10-QSB:
EXHIBIT DESCRIPTION
11.1 Earnings Per Share Computations
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SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
AMERICAN BODY ARMOR & EQUIPMENT, INC.
/s/ Jonathan M. Spiller
-------------------------
Jonathan M. Spiller
President and Chief Executive Officer
Dated August 2, 1996
/s/ Carol T. Burke
-------------------------
Carol T. Burke
Vice President of Finance
Dated August 2, 1996
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EARNINGS PER SHARE COMPUTATIONS
Three Month Period Ended
June 30, July 1,
1996 1995
---- ----
PRIMARY EARNINGS PER SHARE:
Net Income $ 143,555 $ 127,718
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Shares:
Weighted average common shares outstanding 6,825,835 4,697,255
Effect of shares issuable under stock option
and stock grant plans, based on the treasury
stock method 939,362 118,623
Effect of shares issuable under conversion of
preferred stock - if converted method (for 1996
the "if converted" method is applied from the
beginning of the period to the actual conversion
date of the preferred stock of January 19, 1996) 0 1,978,836
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Adjusted common shares and equivalents 7,765,197 6,794,714
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Earnings per share - primary $ .02 $ .02
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FULLY DILUTED EARNINGS PER SHARE:
Net Income $ 143,555 $ 127,718
Add Back:
After tax interest expense accrued on Note $ 59,580 --
---------- ----------
Adjusted net income $ 203,135 $ 127,718
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Shares:
Weighted Average common shares outstanding 6,825,835 4,697,255
Effect of shares issuable under stock option
and stock grants plans, based on the treasury
stock method 991,201 138,378
Effect of shares issuable under conversion of
subordinated note - if converted method (for
1996 the "if converted" method is applied
from the date of the note of April 30, 1996
to the end of the period) 1,541,758 -
Effect of shares issuable under conversion of
preferred stock - if converted method (for 1996
the "if converted" method is applied from the
beginning of the period to the actual conversion
date of the preferred stock of January 19, 1996) 0 1,978,836
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Adjusted common shares and equivalents 9,358,794 6,814,469
Earnings per share - fully diluted $ .02 $ .02
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EARNINGS PER SHARE COMPUTATIONS
Six Month Period Ended
June 30, July 1,
1996 1995
---- ----
PRIMARY EARNINGS PER SHARE:
Net Income $ 215,042 $ 239,244
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Shares:
Weighted average common shares outstanding 6,644,740 4,697,255
Effect of shares issuable under stock option
and stock grant plans, based on the treasury
stock method 853,701 118,623
Effect of shares issuable under conversion of
preferred stock - if converted method (for 1996
the "if converted" method is applied from the
beginning of the period to the actual conversion
date of the preferred stock of January 19, 1996) 181,095 1,761,382
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Adjusted common shares and equivalents 7,679,536 6,577,260
Earnings per share - primary $ .03 $ .04
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FULLY DILUTED EARNINGS PER SHARE:
Net Income $ 215,042 $ 239,244
Add Back:
After tax interest expense accrued on Note $ 59,580 --
---------- ----------
Adjusted net income 274,622 239,244
---------- ----------
Shares:
Weighted Average common shares outstanding 6,644,740 4,697,255
Effect of shares issuable under stock option
and stock grants plans, based on the treasury
stock method 961,809 209,350
Effect of shares issuable under conversion of
subordinated note - if converted method (for
1996 the "if converted" method is applied from
the date of the note of April 30, 1996 to the
end of the period)
770,879 --
Effect of shares issuable under conversion of
preferred stock - if converted method (for 1996
the "if converted" method is applied from the
beginning of the period to the actual conversion
date of the preferred stock of January 19, 1996) 181,095 1,761,382
---------- ----------
Adjusted common shares and equivalents 8,558,523 6,667,987
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Earnings per share - fully diluted $ .03 $ .04
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