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Previous: SUBMICRON SYSTEMS CORP, 10-Q/A, 1996-10-17 |
Next: TIANRONG BUILDING MATERIAL HOLDINGS LTD, 8-K, 1996-10-17 |
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(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 No. 1-13690
PolyMedica Industries, Inc.
(Exact name of registrant as specified in its charter)
Massachusetts 04-3033368
State or other jurisdiction of (I.R.S. Employer
incorporation or organization Identification No.)
11 State Street, Woburn, Massachusetts 01801
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (617) 933-2020
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, $.01 par value per share
(Title of class)
Preferred Stock Purchase Rights
(Title of class)
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
The number of shares outstanding of the registrant's class of Common Stock
as of August 12, 1996 was 8,355,369 which includes 173,578 shares held in
treasury.
<PAGE>
If you are in agreement with the foregoing, please sign the form of
agreement on the accompanying counterpart hereof, whereupon this Letter
Agreement shall become a binding agreement under seal among the parties hereto.
Please then return one of such counterparts to the Company.
Very truly yours,
POLYMEDICA INDUSTRIES, INC.
By: /s/ Steven James Lee
Steven James Lee
Chairman and Chief Executive Officer
POLYMEDICA PHARMACEUTICALS
(U.S.A.), INC.
By: /s/ Steven James Lee
Steven James Lee
Chief Executive Officer
POLYMEDICA PHARMACEUTICALS
(PUERTO RICO), INC.
By: /s/ Steven James Lee
Steven James Lee
Chief Executive Officer
The terms and provisions of the foregoing Letter Agreement are hereby
acknowledged and agreed to.
POLYMEDICA SECURITIES, INC. POLYMEDICA PHARMACEUTICALS
SECURITIES, INC.
By:/s/ Steven James Lee By:/s/ Steven James Lee
Steven James Lee Steven James Lee
President President
The foregoing is hereby accepted and agreed to:
JOHN HANCOCK MUTUAL LIFE
INSURANCE COMPANY
By:/s/ D. Dana Donovan
D. Dana Donovan
Senior Investment Officer
<TABLE> <S> <C>
<ARTICLE>5
<CIK> 0000878748
<NAME> PolyMedica Industries, Inc.
<MULTIPLIER> 1,000
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-START> APR-01-1996
<PERIOD-END> JUN-30-1996
<EXCHANGE-RATE> 1
<CASH> 19546
<SECURITIES> 0
<RECEIVABLES> 2845
<ALLOWANCES> 82
<INVENTORY> 4262
<CURRENT-ASSETS> 27331
<PP&E> 9766
<DEPRECIATION> (3691)
<TOTAL-ASSETS> 68843
<CURRENT-LIABILITIES> 3560
<BONDS> 24422
0
0
<COMMON> 83
<OTHER-SE> 40778
<TOTAL-LIABILITY-AND-EQUITY> 68843
<SALES> 4825
<TOTAL-REVENUES> 4993
<CGS> 1827
<TOTAL-COSTS> 1827
<OTHER-EXPENSES> 2267
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 681
<INCOME-PRETAX> 501
<INCOME-TAX> 15
<INCOME-CONTINUING> 486
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 486
<EPS-PRIMARY> 0.06
<EPS-DILUTED> 0.06
</TABLE>
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