U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-KSB
X Annual report under Section 13 or 15(d) of the Securities Exchange Act
of 1934 (Fee required) For the fiscal year ended December 31, 1996.
Transition report under Section 13 or 15(d) of the Securities Exchange
Act of 1934 (No fee required) For the transition period from to
Commission file number 1-11586
PTI HOLDING INC.
(Name of small business issuer in its charter)
Delaware 13-3590980
(State or jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
c/o 15 East North Street, Dover, DE 19901
(Address of principal executive offices) (Zip Code)
(302) 678-0855
(Issuer's Telephone Number, Including Area Code)
Securities registered under Section 12(b) of the Exchange Act:
Title of each class
Name of each exchange
on which registered
----------------------
Common Stock, par value
$.01 per share None
Warrants to purchase
Common Stock None
Securities registered under Section 12(g) of the Act:
Check whether the issuer: (1) filed reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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 past 90 days. Yes X No
Check if there is no disclosure of delinquent filers in response to
Item 405 of Regulation S-B contained in this form, and no disclosure will 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-KSB
or any amendment to this Form 10-KSB.
State issuer's revenues for its most recent fiscal year. $17,529,509
State the aggregate market value of the voting stock held by
non-affiliates computed by reference to the price at which the stock was sold or
the average bid and asked prices of such stock, as of a specified date within
the past 60 days. As of March 27, 1997, based upon the last sale price on such
date ($ 8.50), such aggregate market value was $ 20,106,402.
State the number of shares outstanding of each class of the issuer's
classes of common equity, as of the latest practicable date. As of March 27,
1997, 3,492,936 shares of the issuer's common equity were outstanding.
Transitional Small Business Disclosure Format (check one): Yes No X
<PAGE>
SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
PTI HOLDING INC.
By/s/ Meredith W. Birrittella
Meredith W. Birrittella,
Chairman of the Board
Chief Executive Officer (authorized signatory)
Chief Financial Officer
In accordance with the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates stated.
/s/ Meredith W. Birrittella
- ---------------------------------- Chief Executive Officer, March 31, 1997
Meredith W. Birrittella Chief Financial Officer,
Chairman and Director
/s/ Myles Birrittella Director March 31, 1997
- ---------------------------------
Myles Birrittella
/s/ Robert Fuhrman Director March 31, 1997
- ---------------------------------
Robert Fuhrman
/s/ Warren Schaeffer Director and Secretary March 31, 1997
- ---------------------------------
Warren Schaeffer
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<CASH> 361,878
<SECURITIES> 0
<RECEIVABLES> 3,408,072
<ALLOWANCES> 175,906
<INVENTORY> 3,763,549
<CURRENT-ASSETS> 8,496,312
<PP&E> 1,302,654
<DEPRECIATION> 831,781
<TOTAL-ASSETS> 10,607,586
<CURRENT-LIABILITIES> 2,976,439
<BONDS> 0
0
2,500
<COMMON> 34,879
<OTHER-SE> 7,535,018
<TOTAL-LIABILITY-AND-EQUITY> 10,607,586
<SALES> 17,529,509
<TOTAL-REVENUES> 17,529,509
<CGS> 12,140,542
<TOTAL-COSTS> 12,140,542
<OTHER-EXPENSES> 2,717,851
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 53,538
<INCOME-PRETAX> 2,671,118
<INCOME-TAX> 980,000
<INCOME-CONTINUING> 2,671,118
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,691,118
<EPS-PRIMARY> .43
<EPS-DILUTED> .43
</TABLE>
