<PAGE>
<PAGE>
FORM 10-Q/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
TO
FORM 10-Q
(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, 1994
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period _______ to _______.
For Quarter Ended September 30, 1994 Commission File Number: 1-10398
GIANT INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 86-0642718
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
23733 North Scottsdale Road, Scottsdale, Arizona 85255
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (602) 585-8888
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 [ ]
Number of Common Shares outstanding at October 31, 1994: 12,075,870 shares.<PAGE>
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GIANT INDUSTRIES, INC.
FORM 10-Q/A
AMENDMENT NO. 1 TO FORM 10-Q
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1994
This Amendment to the Company's Form 10-Q for the quarterly
period ended September 30, 1994, is for the purpose of filing Exhibit
11 - Computation of Per Share Data and Exhibit 27 - Financial Data
Schedule, originally filed as exhibits following Part I, Item 1, as
separate documents.<PAGE>
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report on Form 10-Q/A for
the quarter ended September 30, 1994 to be signed on its behalf by
the undersigned thereunto duly authorized.
GIANT INDUSTRIES, INC.
/s/ A. WAYNE DAVENPORT
---------------------------------------
A. Wayne Davenport
Vice President and Corporate Controller
(Principal Accounting Officer)
Date: December 22, 1994
<TABLE>
EXHIBIT 11
GIANT INDUSTRIES, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE DATA
<CAPTION>
Three Months Ended Nine Months Ended
September 30, September 30,
------------------------ ------------------------
1994 1993 1994 1993
------------------------ ------------------------
<S> <C> <C> <C> <C>
Net earnings (loss) $(2,253,000) $ 5,005,000 $ 2,116,000 $14,535,000
=========== =========== =========== ===========
Weighted average number of shares
outstanding during the period 12,112,350 12,226,034 12,159,181 12,224,532
=========== =========== =========== ===========
Earnings (loss) per common share $ (0.19) $ 0.41 $ 0.17 $ 1.19
=========== =========== =========== ===========
Additional Primary Computation:
- - -------------------------------
Net earnings (loss) $(2,253,000) $ 5,005,000 $ 2,116,000 $14,535,000
=========== =========== =========== ===========
Additional adjustment to weighted average
number of shares outstanding:
Weighted average number of shares
outstanding above 12,112,350 12,226,034 12,159,181 12,224,532
Add - dilutive effect of outstanding
options (a) 98,559 34,902 51,959
----------- ----------- ----------- -----------
Weighted average number of shares
outstanding as adjusted 12,112,350 12,324,593 12,194,083 12,276,491
=========== =========== =========== ===========
Earnings (loss) per common share (b) $ (0.19) $ 0.41 $ 0.17 $ 1.18
=========== =========== =========== ===========
Fully Diluted Computation:
- - --------------------------
Net earnings (loss) $(2,253,000) $ 5,005,000 $ 2,116,000 $14,535,000
=========== =========== =========== ===========
Additional adjustment to weighted average
number of shares outstanding:
Weighted average number of shares
outstanding above 12,112,350 12,226,034 12,159,181 12,224,532
Add - dilutive effect of outstanding
options (a) 98,559 37,082 94,092
----------- ----------- ----------- -----------
Weighted average number of shares
outstanding as adjusted 12,112,350 12,324,593 12,196,263 12,318,624
=========== =========== =========== ===========
Earnings (loss) per common share (b) $ (0.19) $ 0.41 $ 0.17 $ 1.18
=========== =========== =========== ===========
/TABLE
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(a) As determined by the application of the treasury stock method.
(b) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required per note 2 to paragraph 14 of APB
Opinion No. 15 because it results in dilution of less than 3%.
<TABLE> <S> <C>
<ARTICLE> 5
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> SEP-30-1994
<CASH> 8,454
<SECURITIES> 35,243
<RECEIVABLES> 13,861<F1>
<ALLOWANCES> 0
<INVENTORY> 31,284
<CURRENT-ASSETS> 95,035
<PP&E> 311,243
<DEPRECIATION> 144,273
<TOTAL-ASSETS> 274,582
<CURRENT-LIABILITIES> 33,148
<BONDS> 116,325
<COMMON> 121
0
0
<OTHER-SE> 107,343
<TOTAL-LIABILITY-AND-EQUITY> 274,582
<SALES> 215,541
<TOTAL-REVENUES> 215,541
<CGS> 143,602
<TOTAL-COSTS> 205,221<F2>
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 8,867
<INCOME-PRETAX> 2,622
<INCOME-TAX> 506
<INCOME-CONTINUING> 2,116
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 2,116
<EPS-PRIMARY> 0.17
<EPS-DILUTED> 0
<FN>
<F1>Includes accounts receivable trade, notes and other accounts
receivable, net of allowance for doubtful accounts receivable.
<F2>Includes other operating expenses, selling, general and
administrative expenses, and reduction in carrying value of oil
and gas properties.
</FN>
</TABLE>
