SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A-2
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act 1934
Date of Report: June 28, 1996
U.S. DIAGNOSTIC LABS INC.
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(Exact name of registrant as specified in charter)
DELAWARE
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(State of other jurisdiction of incorporation)
1-13392 11-3146389
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(Commission File Number) (IRS Employer Identification No.)
777 South Flagler Drive, Suite 1006, West Tower, West Palm Beach, Florida
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(Address of principal executive offices)
33401
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(Zip Code)
Registrant's telephone no. including area code: (407) 832-0006
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Attached hereto is the pro forma statement of operations of U.S. Diagnostic
Labs Inc for the year ended December 31, 1995.
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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 hereunto duly authorized.
U.S. DIAGNOSTIC LABS INC.
/s/ Jeffrey A. Goffman
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Jeffrey A. Goffman, Chairman
Dated: August 27, 1996
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U.S DIAGNOSTIC LABS INC.
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PRO FORMA COMBINED CONDENSED STATEMENT OF OPERATIONS FOR THE YEAR ENDED
DECEMBER 31, 1995 [IN THOUSANDS][UNAUDITED]
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<TABLE>
<CAPTION>
HISTORICALS
------------------------------------------------ PRO FORMA
US ALLEGHENY OTHER PRO FORMA AS
USDL IMAGING GROUP MEDITEK ACQUISITIONS ADJUSTMENTS ADJUSTED
----------- -------- ------------- ---------- ------------ -------------- -----------
<S> <C> <C> <C> <C> <C> <C> <C>
NET REVENUES $28,839 $10,583 $8,581 $14,766 $27,325 $ 90 $90,184
GENERAL AND ADMINISTRATIVE
EXPENSES 19,836 5,854 4,723 12,496 19,684 (4,274)[A] 58,319
INTEREST EXPENSE 1,276 528 55 277 1,252 7,084 [B] 10,472
DEPRECIATION AND AMORTIZATION 3,003 1,119 656 1,275 2,355 2,013 [C] 10,421
OTHER [INCOME] EXPENSE 276 (16) (28) (7) (692) - (467)
NON-CASH FINANCE CHARGE 414 - - - - (414) [D] -
MINORITY INTEREST 280 - - 144 841 - 1,265
----------- -------- ------------- ---------- ------------ -------------- -----------
INCOME BEFORE ADJUSTMENT FOR
EXTRAORDINARY ITEM &
INCOME TAXES 3,754 3,098 3,175 581 3,885 (4,319) 10,174
INCOME TAXES PRO FORMA 729 1,074 1,270 305 1,461 (1,542) 3,297
----------- -------- ------------- ---------- ------------ -------------- -----------
INCOME BEFORE EXTRAORDINARY
ITEM 3,025 2,024 1,905 276 2,424 (2,777) 6,877
EXTRAORDINARY ITEM [NET OF TAX
EFFECT] 306 - - - - - 306
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NET INCOME $ 3,331 $ 2,024 $1,905 $ 276 $ 2,424 $(2,777) $ 7,183
=========== ======== ============= ========== ============ ============== ===========
EARNINGS PER COMMON SHARE:
Primary
Earnings Before $ 0.61 $ 0.93
Extraordinary Item 0.06 0.04
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NET EARNINGS $ 0.67 $ 0.97
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Fully Diluted
Earnings Before $ 0.57 $ 0.70
Extraordinary Item 0.03 0.01
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NET EARNINGS $ 0.60 $ 0.71
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WEIGHTED AVERAGE NUMBER OF
COMMON SHARES AND
EQUIVALENT SHARES
OUTSTANDING:
Primary 4,996,021 7,425,104
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Fully Diluted 11,761,427 21,954,456
=========== ===========
</TABLE>
See Notes to Combined Condensed Financial Statements
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US DIAGNOSTICS LABS, INC.
NOTES TO THE UNAUDITED PRO FORMA COMBINED CONDENSED FINANCIAL STATEMENTS
[A] Adjusts for the effects of the new employment contracts, radiologists'
agreements, and management fee agreements pursuant to the acquisitions plus
other identifiable elimination of certain expenses.
[B] Adjusts interest expense due to the issuance of the notes in connection with
the acquisitions.
[C] Adjusts amortization expense to properly reflect the allocation of the
purchase price as required per purchase accounting for each of the
acquisitions.
[D] Adjusts for the elimination of non-recurring non-cash finance charge
incurred in connection with the June 1995 bridge financing.
