SUBMICRON SYSTEMS CORP
10-Q/A, 1996-10-17
SPECIAL INDUSTRY MACHINERY, NEC
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<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                               ------------------

                                  FORM 10-Q/A
                      AMENDMENT NO. 1 TO QUARTERLY REPORT

(Mark One)

( X )       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended                  June 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:  0-19507
                         -------------------------------------------------------

                        SUBMICRON SYSTEMS CORPORATION
- --------------------------------------------------------------------------------
           (Exact name of registrant as specified in its charter)

                 Delaware                                     13-3607944
- ---------------------------------------------            -------------------
(State or other jurisdiction of incorporation            (I.R.S. Employer
or organization)                                         Identification No.)

6620 Grant Way, Allentown, Pennsylvania                  18106
- --------------------------------------------------------------------------------
(Address of principal executive offices)                 (Zip Code)

Registrant's Telephone Number, Including Area Code   (610) 391-9200
                                                   -----------------------------

6330 Hedgewood Drive, #150, Allentown, PA  18106 
- --------------------------------------------------------------------------------
            (Former name, former address and former fiscal year,
                        if changed since last report)

        
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. 
                                                          ( X ) Yes   (   ) No


                     APPLICABLE ONLY TO CORPORATE ISSUERS:


There were 16,800,870 shares of Common stock outstanding, $.0001 par value, as 
of July 31, 1996.


                                       1
<PAGE>   2

                         SUBMICRON SYSTEMS CORPORATION

                                     INDEX



Part II - Other Information                                                

      Item 6(a) - Exhibits




                                       2
<PAGE>   3




                                 SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the date included.


                                      SUBMICRON SYSTEMS CORPORATION


Dated:  October 17, 1996              By: /s/ David F. Levy               
                                         ---------------------------------
                                         David F. Levy
                                         President & CEO


Dated:  October 17, 1996                 /s/R. G. Holmes                  
                                         ---------------------------------
                                         R. G.  Holmes
                                         Vice President Finance
                                         Chief Financial Officer






                                       3
<PAGE>   4
PART II - OTHER INFORMATION

ITEM 6(a):                    Exhibits

Exhibit No.                   Description
- -----------                   -----------

27                            Financial Data Schedule






                                       4

<TABLE> <S> <C>

<ARTICLE> 5
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                           8,296
<SECURITIES>                                         0
<RECEIVABLES>                                   47,383
<ALLOWANCES>                                         0
<INVENTORY>                                     54,322
<CURRENT-ASSETS>                               115,277
<PP&E>                                          22,507
<DEPRECIATION>                                   6,326
<TOTAL-ASSETS>                                 137,715
<CURRENT-LIABILITIES>                           67,581
<BONDS>                                              0
                                0
                                          0
<COMMON>                                             2
<OTHER-SE>                                      48,970
<TOTAL-LIABILITY-AND-EQUITY>                   137,715
<SALES>                                         77,244
<TOTAL-REVENUES>                                91,920
<CGS>                                           54,096
<TOTAL-COSTS>                                   65,566
<OTHER-EXPENSES>                                22,443
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,261
<INCOME-PRETAX>                                  1,966
<INCOME-TAX>                                       713
<INCOME-CONTINUING>                              1,253
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     1,253
<EPS-PRIMARY>                                      .07
<EPS-DILUTED>                                        0
        

</TABLE>


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