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Previous: CELL THERAPEUTICS INC, DEF 14A, 1998-05-22 |
Next: ACTION PERFORMANCE COMPANIES INC, S-3, 1998-05-22 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 1997
Commission file number 0-21630
ACTION PERFORMANCE COMPANIES, INC.
------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
ARIZONA 86-0704792
- ------------------------ ------------------------------------
(State of Incorporation) (I.R.S. Employer Identification No.)
4707 E. Baseline Road
Phoenix, AZ 85040
(602) 337-3700
------------------------------------------------------------------------
(Address, including zip code, and telephone number, including area code,
of principal executive offices)
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
--- ---
As of February 10, 1998, there were outstanding 16,034,044 shares of the
registrant's Common Stock, par value $.01 per share.
<PAGE>
PART II - OTHER INFORMATION
ITEM 6. Exhibits and Reports on Form 8-K
(a) Exhibits
10.51 Asset Purchase Agreement dated as of December
19, 1997 between Action Performance
Companies, Inc. and Revell-Monogram, Inc. (1)
11.1 Computation of Basic Earnings Per Share*
11.2 Computation of Diluted Earnings Per Share*
27 Financial Data Schedule*
27.2 Restated Financial Data Schedule
27.3 Restated Financial Data Schedule
---------------
* Previously filed
(1) Incorporated by reference to the Company's
Registration Statement on Form S-3 (Registration No.
333-45991), as filed with the Securities and
Exchange Commission on February 10, 1998.
(b) Reports on Form 8-K
Not applicable
2
<PAGE>
SIGNATURES
Pursuant to the requirements 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.
ACTION PERFORMANCE COMPANIES, INC.
<TABLE>
<CAPTION>
Signature Capacity Date
- --------- -------- ----
<S> <C> <C>
/s/ Fred W. Wagenhals Chairman of the Board, President, and May 22, 1998
- ------------------------- Chief Executive Officer
Fred W. Wagenhals (Principal Executive Officer)
/s/ Christopher S. Besing Vice President, Chief Financial Officer, May 22, 1998
- ------------------------- Treasurer, and Director
Christopher S. Besing (Principal Financial and Accounting Officer)
</TABLE>
3
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This Exhibit contains summary financial information extracted from the
Registrant's financial statements for the periods ended June 30, 1996 and
September 30, 1996, as restated pursuant to Statement of Finanical Standards No.
128. This Exhibit is qualified in its entirety by reference to such financial
statements. This Exhibit shall not be deemed filed for purposes of Section 11 of
the Securities Act of 1933 and Section 18 of the Securities Exchange Act of
1934, or otherwise subject to the liability of such Sections, nor shall it be
deemed a part of any other filing which incorporates this report by reference,
unless such other filing expressly incorporates this Exhibit by reference.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. Dollars
<S> <C> <C>
<PERIOD-TYPE> 9-MOS 12-MOS
<FISCAL-YEAR-END> SEP-30-1996 SEP-30-1996
<PERIOD-START> OCT-01-1995 OCT-01-1995
<PERIOD-END> JUN-30-1996 SEP-30-1996
<EXCHANGE-RATE> 1 1
<CASH> 5,148 4,983
<SECURITIES> 0 0
<RECEIVABLES> 6,926 7,497
<ALLOWANCES> 208 256
<INVENTORY> 4,763 5,834
<CURRENT-ASSETS> 19,719 22,381
<PP&E> 10,556 11,551
<DEPRECIATION> 2,841 3,363
<TOTAL-ASSETS> 28,782 31,649
<CURRENT-LIABILITIES> 4,432 4,287
<BONDS> 0 0
0 0
0 0
<COMMON> 126 126
<OTHER-SE> 18,166 18,991
<TOTAL-LIABILITY-AND-EQUITY> 28,782 31,649
<SALES> 30,055 44,216
<TOTAL-REVENUES> 30,055 44,216
<CGS> 17,442 25,296
<TOTAL-COSTS> 17,442 25,296
<OTHER-EXPENSES> 6,453 9,266
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 67 79
<INCOME-PRETAX> 6,324 9,870
<INCOME-TAX> 2,530 3,917
<INCOME-CONTINUING> 3,794 5,953
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 3,794 5,953
<EPS-PRIMARY> .33 0.50
<EPS-DILUTED> .29 0.46
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This Exhibit contains summary financial information extracted from the
Registrant's financial statements for the periods ended March 31, 1997, June 30,
1997, and September 30, 1997, as restated pursuant to Statement of Finanical
Standards No. 128. This Exhibit is qualified in its entirety by reference to
such financial statements. This Exhibit shall not be deemed filed for purposes
of Section 11 of the Securities Act of 1933 and Section 18 of the Securities
Exchange Act of 1934, or otherwise subject to the liability of such Sections,
nor shall it be deemed a part of any other filing which incorporates this report
by reference, unless such other filing expressly incorporates this Exhibit by
reference.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C> <C> <C>
<PERIOD-TYPE> 6-MOS 9-MOS 12-MOS
<FISCAL-YEAR-END> SEP-30-1997 SEP-30-1997 SEP-30-1997
<PERIOD-START> OCT-01-1996 OCT-01-1996 OCT-01-1996
<PERIOD-END> MAR-31-1997 JUN-30-1997 SEP-30-1997
<EXCHANGE-RATE> 1 1 1
<CASH> 2,979 49,275 29,318
<SECURITIES> 0 0 0
<RECEIVABLES> 12,860 16,631 18,639
<ALLOWANCES> 895 936 837
<INVENTORY> 13,810 15,450 17,855
<CURRENT-ASSETS> 34,457 87,914 72,545
<PP&E> 17,235 18,917 26,548
<DEPRECIATION> 4,784 5,559 6,531
<TOTAL-ASSETS> 81,519 135,538 141,325
<CURRENT-LIABILITIES> 15,254 25,839 15,570
<BONDS> 22,305 22,048 22,586
0 0 0
0 0 0
<COMMON> 137 155 160
<OTHER-SE> 31,939 74,513 84,984
<TOTAL-LIABILITY-AND-EQUITY> 81,519 135,538 141,325
<SALES> 43,478 83,109 130,380
<TOTAL-REVENUES> 43,478 83,109 130,380
<CGS> 26,302 51,249 80,995
<TOTAL-COSTS> 26,302 51,249 80,995
<OTHER-EXPENSES> 9,750 22,085 31,250
<LOSS-PROVISION> 0 0 0
<INTEREST-EXPENSE> 916 1,269 2,021
<INCOME-PRETAX> 6,675 8,505 16,910
<INCOME-TAX> 2,670 3,402 6,764
<INCOME-CONTINUING> 4,005 5,103 10,146
<DISCONTINUED> 0 0 0
<EXTRAORDINARY> 0 0 0
<CHANGES> 0 0 0
<NET-INCOME> 4,005 5,103 10,146
<EPS-PRIMARY> 0.30 0.38 0.72
<EPS-DILUTED> 0.29 0.36 0.69
</TABLE>
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