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Previous: CBL & ASSOCIATES PROPERTIES INC, 10-Q, 1996-11-13 |
Next: NATIONAL RV HOLDINGS INC, 10-Q/A, 1996-11-13 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
AMENDMENT NO. 1
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File
For the Quarterly Period Ended September 28, 1996 Number 0-22468
------------------ -------
WICKES LUMBER COMPANY
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(Exact name of registrant as specified in its charter)
Delaware 36-3554758
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
706 North Deerpath Drive, Vernon Hills, Illinois 60061
- ------------------------------------------------ -----
(Address of principal executive offices) (Zip Code)
847-367-3400
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(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, and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
----- -----
As of November 1, 1996, the Registrant had 7,656,106 shares of Common
Stock, par value $.01 per share, and 499,768 shares of Class B Non-Voting
Common Stock, par value $.01 per share, outstanding.
<TABLE>
WICKES LUMBER COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(in thousands except share and per share data)
<CAPTION>
Three Months Ended Nine Months Ended
------------------------ --------------------------
Sept 28, Sept 30, Sept 28, Sept 30,
1996 1995 1996 1995
--------- --------- --------- ---------
<S> <C> <C> <C> <C>
Net sales $ 255,575 $ 284,488 $ 636,856 $ 748,983
Cost of sales 200,118 221,625 495,260 576,627
--------- --------- --------- ---------
Gross profit 55,457 62,863 141,596 172,356
--------- --------- --------- ---------
Selling, general and administrative expenses 44,181 51,898 121,984 148,795
Depreciation, goodwill and trademark amortization 1,296 1,607 4,066 4,481
Provision for doubtful accounts 339 1,600 1,097 5,590
Other operating income (1,364) (1,518) (3,899) (4,384)
--------- --------- --------- ---------
44,452 53,587 123,248 154,482
--------- --------- --------- ---------
Income from operations 11,005 9,276 18,348 17,874
Interest expense 5,475 6,207 16,647 18,366
Equity in loss of affiliated company 322 - 2,252 -
--------- --------- --------- ---------
Income/(loss) before provision for income taxes 5,208 3,069 (551) (492)
Provision for income taxes 2,365 1,271 899 (132)
Minority interest in subsidiaries - (129) - (159)
--------- --------- --------- ---------
Net Income/(loss) $ 2,843 $ 1,927 $ (1,450) $ (201)
========= ========= ========= =========
Income/(loss) per common share $ 0.35 $ 0.31 $ (0.21) $ (0.03)
========= ========= ========= =========
Weighted average common shares outstanding 8,166,529 6,156,919 6,903,047 6,149,707
========= ========= ========= =========
The accompanying notes are an integral part of the the Condensed Consolidated Financial Statements.
</TABLE>
EXPLANATORY NOTE
This Amendment No. 1 is being filed for the purpose of correcting the
information reported in the Company's Condensed Consolidated Statement of
Operations.
SIGNATURES
Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Amendment No. 1
to Form 10-Q to be signed on its behalf by the undersigned, thereunto duly
authorized.
WICKES LUMBER COMPANY
By: /s/ George A. Bajalia
---------------------
George A. Bajalia
Senior Vice President and Chief
Financial Officer
Date: November 13, 1996
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