================================================================================
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
------------------------
Amendment No. 1
TO
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the quarterly period ended July 31, 1998
Commission file number 000-23250
------------------------
MARKET AMERICA, INC.
(Exact name of registrant as specified in its charter)
North Carolina 56-1784094
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
7605-A Business Park Drive
Greensboro, North Carolina
(Address of principal executive offices)
27409
(Zip Code)
(336) 605-0040
(Registrant's Telephone Number, Including Area Code)
------------------------
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 / /
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer's classes of
common stock as of September 14, 1998.
19,950,000
================================================================================
<PAGE>
THE PURPOSE OF THIS FILING IS TO AMEND THE 10-Q FILED ON 9/14/98 BY ATTACHING
THE FINANCIAL DATA SCHEDULE EXHIBIT 27
ITEM 6 EXHIBITS AND REPORTS ON FORM 8-K
(a) EXHIBITS:
27 Financial Data Schedule
<PAGE>
- -------------------------------------------------------------------------------
SIGNATURE
- -------------------------------------------------------------------------------
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
MARKET AMERICA, INC.
(Registrant)
Date September 16, 1998 /s/ James H. Ridinger
------------------ -----------------------------------
James H. Ridinger, President and CEO
(Principal Executive Officer and
Principal Financial Officer)
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Statement of Financial Condition at January 31, 1998 (Unaudited) and the
Statement of Income for the six months ended January 31, 1998 (Unaudited)
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000880121
<NAME> Market America, Inc.
<MULTIPLIER> 1
<CURRENCY> U.S. Dollars
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAY-01-1998
<PERIOD-END> JUL-31-1998
<EXCHANGE-RATE> 1.000
<CASH> 21,028,540
<SECURITIES> 0
<RECEIVABLES> 196,228
<ALLOWANCES> 0
<INVENTORY> 1,977,064
<CURRENT-ASSETS> 35,724,604
<PP&E> 998,964
<DEPRECIATION> 498,795
<TOTAL-ASSETS> 37,026,876
<CURRENT-LIABILITIES> 7,541,736
<BONDS> 0
0
0
<COMMON> 199
<OTHER-SE> 29,356,375
<TOTAL-LIABILITY-AND-EQUITY> 37,026,876
<SALES> 26,826,596
<TOTAL-REVENUES> 27,257,842
<CGS> 6,285,268
<TOTAL-COSTS> 6,285,268
<OTHER-EXPENSES> 14,409,086
<LOSS-PROVISION> 6,404
<INTEREST-EXPENSE> 23,466
<INCOME-PRETAX> 6,533,618
<INCOME-TAX> 2,658,554
<INCOME-CONTINUING> 6,132,242
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 3,875,064
<EPS-PRIMARY> .19
<EPS-DILUTED> .19
</TABLE>
