UNITED STATES
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 November 30, 1996
[ ] 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.: 0-25592
PERIPHONICS CORPORATION
(exact name of registrant as specified in its charter)
Delaware 11-2699509
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
4000 Veterans Memorial Highway, Bohemia, New York 11716
(Address of principal executive offices)
Registrant's telephone number, including area code: (516) 468-9000
Check 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(s), and (2) has been subject to such filing requirements
for the past 90 days. Yes [X] No [ ]
Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date: January 10, 1997.
Class of Number of
Common Equity Shares
Common Stock, 13,645,288
par value $.01
<PAGE>
PERIPHONICS CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
<TABLE>
<CAPTION>
November 30, 1996 May 31, 1996
(Unaudited) (Audited)
<S> <C> <C>
ASSETS
CURRENT ASSETS:
Cash and cash equivalents............................................ $ 16,479 $ 18,664
Short-term investments............................................... 5,313 8,603
Accounts receivable, less allowance for doubtful accounts of
$890 and $750 respectively . . . . . . . . . . .................... 32,736 23,829
Inventories.......................................................... 12,150 11,097
Deferred income taxes................................................ 1,151 1,261
Prepaid expenses and other current assets............................ 938 935
--------- ---------
TOTAL CURRENT ASSETS............................................. 68,767 64,389
PROPERTY, PLANT AND EQUIPMENT, net..................................... 12,775 10,426
OTHER ASSETS........................................................... 283 288
--------- ---------
$ 81,825 $ 75,103
========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable..................................................... $ 6,073 $ 4,247
Accrued expenses and other current liabilities....................... 11,292 11,666
--------- ---------
TOTAL CURRENT LIABILITIES........................................ 17,365 15,913
DEFERRED INCOME TAXES.................................................. 140 409
--------- ---------
17,505 16,322
--------- ---------
STOCKHOLDERS' EQUITY
Preferred Stock, par value $.01 per share, 1,000,000 authorized, none issued
Common stock, par value $.01 per share, 30,000,000 shares authorized
13,627,132 shares outstanding as of November 30, 1996
13,598,164 shares outstanding as of May 31, 1996.................... 136 136
Additional Paid-in Capital.......................................... 41,955 41,770
Retained Earnings................................................... 22,229 16,875
--------- ---------
64,320 58,781
--------- ---------
$ 81,825 $ 75,103
========= =========
</TABLE>
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.
PERIPHONICS CORPORATION
Registrant
By: \s\ Peter J. Cohen
--------------------------------
Peter J. Cohen
Chairman of the Board, President
and Chief Executive Officer
(Principal Operating Officer)
By: \s\ Kevin J. O'Brien
--------------------------------
Kevin J. O'Brien
Vice President-Finance and
Administration (Principal
Accounting Officer), Secretary
Dated: January 14, 1997
