UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
(X) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECUITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1997
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NUMBER 0-24912
WELCOME HOME, INC.
309 Raleigh Street
Wilmington, N.C. 28412
(910) 791-4312
INCORPORATED IN I.R.S. EMPLOYER
DELAWARE
IDENTIFICATION NO.
56-1379322
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, Par Value $.01 Per Share
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 ( )
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form l0-K or any amendment to this
Form10-K. (X)
The aggregate market value of the voting stock held by non-
affiliates of the registrant was $1,991,237 as of March 13, 1998.
Determination of affiliate status for this purpose is not a
determination of affiliate status for any other purpose. As of
March 13, 1998, there were 7,453,615 shares of the registrant's
common stock outstanding.
Documents Incorporated by Reference: None
<PAGE>
Welcome Home, Inc. has discovered two clerical errors in the
Company's filing of the 10K for the period ended December 31,
1997.
The first error was an omission of a line "Other" in the Cash Flows
from Operating Activies section in the Consolidated Statement of
Cash Flows exhibit. The second error, also in the Consolidated
Statement of Cash Flows exhibit mis-stated the 1995 "Depreciation"
These corrections have been included in the following statement:
<TABLE>
<CAPTION>
WELCOME HOME, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years Ended December 31,
1997 1996 1995
- ------------------------------------------------------------------------
(in thousands of dollars)
<S> <C> <C> <C>
- ------------------------------------------------------------------------
Cash flows from operating activities:
Net loss $ (6,266) $(20,339) $(10,449)
Adjustments to reconcile net
loss to net cash
provided by (used in)
operating activities:
Depreciation 2,185 2,096 2,121
Deferred income taxes - 2,185 (1,241)
Restructuring charges - 8,106 5,913
Other non-recurring charges - - 1,016
Other (98) - 121
Changes in operating assets and liabilities:
Inventories 5,396 507 2,484
Prepaid expenses and other assets 408 208 369
Accounts payable (560) 1,038 (1,023)
Accrued liabilities 2,428 837 485
Income taxes payable - - (294)
Payables to Jordan Industries 2,764 1,007 -
- ------------------------------------------------------------------------
Net cash provided by (used in)
operating activities 6,257 (4,355) (498)
- ------------------------------------------------------------------------
Cash flows used in investing activities:
Capital expenditures (134) (1,638) (5,021)
Other 122 - (100)
- ------------------------------------------------------------------------
Net cash used in investing activities: (12) (1,638) (5,121)
- ------------------------------------------------------------------------
Cash flows from financing activities:
Proceeds from advances from
Jordan Industries - 2,000 15,678
Repayment of advances from
Jordan Industries - (2,000) (12,318)
Proceeds from line of credit 71,858 63,559 19,650
Repayments - line of credit (78,021) (56,649) (14,437)
Purchase of treasury stock - - (2,945)
Loan fees - line of credit - - (390)
Other (952) (736) (448)
- ------------------------------------------------------------------------
Net cash (used in) provided by
financing activities (7,115) 6,174 4,790
- ------------------------------------------------------------------------
Net (decrease) increase in cash
and cash equivalents (870) 181 (829)
Cash and cash equivalents at
beginning of period 1,715 1,534 2,363
- ------------------------------------------------------------------------
Cash and cash equivalents at
end of period $ 845 $ 1,715 $ 1,534
========================================================================
</TABLE>
15
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended, the registrant has
duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, as of the 13th of March,
1998.
WELCOME HOME, INC.
By: /s/ Mark S. Dudeck
---------------------
Name: Mark S. Dudeck
Title: Vice President, Treasurer
and Chief Financial Officer
