<PAGE>1
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 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. 0-21684
THE WELLCARE MANAGEMENT GROUP, INC.
(Exact name of registrant as specified in its charter)
NEW YORK 14-1647239
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification Number)
PARK WEST, HURLEY AVENUE EXTENSION, KINGSTON, NY 12401
(Address of principal executive offices) (Zip Code)
(914) 338-4110
(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 report(s), and (2) has been subject to
such filing requirements for the past 90 days.
YES X NO
The number of Registrant's shares outstanding on August 2, 1996 was 4,871,878
shares of Common Stock, $.01 par value, and 1,440,364 shares of Class A Common
Stock, $.01 par value.
Page 1 of 4 Pages
Exhibit Index on Page 3
<PAGE>
<PAGE>2
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.
The WellCare Management Group, Inc.
By: /s/ Robert W. Morey, Jr.
Robert W. Morey, Jr.
Chairman of the Board and
Chief Executive Officer (was appointed 4/30/96)
By: /s/ Marystephanie Corsones
Marystephanie Corsones
Vice President of Finance/
Chief Financial Officer
(Principal Financial and Accounting Officer)
Date: October 7, 1996
<PAGE>
<PAGE>3
INDEX TO EXHIBITS
All exhibits listed below are filed with this Quarterly Report on Form 10-Q/A:
Exhibit Number Page Number
27 Financial Data Schedule 4
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Consolidated Balance Sheet of The WellCare Management Group, Inc. and
Subsidiaries as of June 30, 1996 and the related Statement of Operations for the
six month period ending June 30, 1996, and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<CASH> 6,692
<SECURITIES> 3,751
<RECEIVABLES> 13,189
<ALLOWANCES> 1,950
<INVENTORY> 0
<CURRENT-ASSETS> 42,689
<PP&E> 16,986
<DEPRECIATION> 4,425
<TOTAL-ASSETS> 80,241
<CURRENT-LIABILITIES> 24,433
<BONDS> 30,665
0
0
<COMMON> 63
<OTHER-SE> 29,082
<TOTAL-LIABILITY-AND-EQUITY> 80,241
<SALES> 79,763
<TOTAL-REVENUES> 82,760
<CGS> 0
<TOTAL-COSTS> 68,393
<OTHER-EXPENSES> 19,210
<LOSS-PROVISION> 784
<INTEREST-EXPENSE> 1,109
<INCOME-PRETAX> (4,843)
<INCOME-TAX> (1,937)
<INCOME-CONTINUING> (2,906)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (2,906)
<EPS-PRIMARY> (.46)
<EPS-DILUTED> (.46)
</TABLE>
