Securities and Exchange Commission
Washington, DC 20549
FORM 10-K/A
AMENDMENT TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1993 Commission File Number 1-5620
SAFEGUARD SCIENTIFICS, INC.
(Exact name of Registrant as specified in its charter)
Pennsylvania 23-1609753
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
800 The Safeguard Building
435 Devon Park Drive, Wayne, PA 19087
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (610) 293-0600
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of Each Class on which registered
Common Stock ($.10 par value) New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: 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 report(s)), and (2) has been subject to
such filing requirements for the past 90 days.
Yes X No
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of Registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to
this Form 10-K. [ X ]
This Amendment to Annual Report on Form 10-K/A contains 5 pages. The purpose
of this Amendment is to refile the Condensed Consolidated Statements of
Operations (Page 4) for the year ended December 31, 1993.
Indicate the number of shares outstanding of each of the Registrant's classes
of Common Stock, as of March 25, 1994:
Common Stock 4,682,114 shares
PAGE 1
Aggregate market value of voting stock held by non-affiliates (based on the
closing price on the New York Stock Exchange) on March 25, 1994 was
approximately $114.2 million. For purposes of determining this amount only,
Registrant has defined affiliates as including (a) the executive officers
named in Part III of this 10-K report, (b) all directors of Registrant, and
(c) each shareholder that has informed Registrant by March 25, 1994 that it is
the beneficial owner of 10% or more of the outstanding common stock of
Registrant.
PAGE 2
PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
(d) Financial Statements and Schedules
Page
CONSOLIDATED FINANCIAL STATEMENTS
INDEPENDENT AUDITORS' REPORT 32*
BALANCE SHEETS - December 31, 1993 and 1992 22*
OPERATIONS - years ended December 31, 1993, 1992, and 1991 21*
CASH FLOWS - years ended December 31, 1993, 1992, and 1991 24*
SHAREHOLDERS' EQUITY - years ended December 31, 1993, 1992,
and 1991 25*
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 25-31*
INDUSTRY SEGMENTS 20*
QUARTERLY FINANCIAL DATA 33*
FINANCIAL STATEMENT SCHEDULES
INDEPENDENT AUDITORS' REPORT 33**
Schedule II - Amounts Receivable from Related Parties and
Underwriters, Promoters, and Employees other
than Related Parties 34**
Schedule III - Condensed Financial Information of Registrant 4***
- Condensed Financial Information of Registrant 35, 37, 38**
Schedule VIII - Valuation and Qualifying Accounts 39**
Schedule IX - Short-Term Borrowings 40**
Schedule XI - Real Estate and Accumulated Depreciation 41-42**
Schedule XII - Mortgage Loans on Real Estate 43-44**
________
* Incorporated by reference from the indicated pages of the Company's Annual
Report to Shareholders for 1993, which pages were filed as part of Exhibit 13
to Annual Report on Form 10-K.
** Previously filed with Annual Report on Form 10-K at the indicated pages.
***Revised Statements of Operations of Schedule III is filed herewith
PAGE 3
Safeguard Scientifics, Inc.
Schedule III
Condensed Consolidated Statements of Operations
Years ended December 31, 1993, 1992 and 1991
($000 omitted)
1993 1992 1991
Revenues
Net sales 32380 29411 28957
Gains on sales of securities, net 9574 10214 21841
Other income 6088 5641 4388
Total revenues 48042 45266 55186
Costs and Expenses
Material, labor and other 20289 17182 16547
Selling 1338 1248 1151
General and administrative 12562 10357 7330
Depreciation and amortization 4287 4074 4022
Interest 4404 4992 5011
Equity in (income) losses of unconsolidated
subsidiaries and affiliates, net of taxes -2060 -4574 3842
Total costs and expenses 40820 33279 37903
Earnings Before Taxes on Income 7222 11987 17283
Provision for Taxes on Income 3369 3123 6765
Net Earnings 3853 8864 10518
Earnings Per Share
Primary 0.62 1.76 2.06
Fully Diluted 0.42 1.64 2.04
Average Common Share Outstanding
Primary 5023000 5050000 5108000
Fully Diluted 5068000 5101000 5143000
PAGE 4
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Amendment to Annual Report on Form 10-K/A
to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: April 7, 1994 SAFEGUARD SCIENTIFICS, INC.
By: /s/ Gerald M. Wilk
Gerald M. Wilk
Vice President-Finance
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