TINSLEY LABORATORIES INC
10KSB/A, 1996-04-25
OPTICAL INSTRUMENTS & LENSES
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<PAGE>

                          SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C. 20549
                                     FORM 10-KSB/A

[x]           ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
                   THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 1995.

[ ]           TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________________ to _________________

Commission File Number 0-3063

                          TINSLEY LABORATORIES, INC.

- --------------------------------------------------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

    CALIFORNIA                                   94-1049146
    ----------                                   ----------
STATE OR OTHER JURISDICTION OF                   (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)                   IDENTIFICATION
                                                      No.)

              3900 LAKESIDE DRIVE, RICHMOND, CALIFORNIA 94806
- --------------------------------------------------------------------------------
                (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES AND ZIP CODE)

Registrant's telephone number (510)222-8110
                              -------------
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:

                       Common Stock, without par value
                       --------------------------------
                               (Title of Class)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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    
                                                                    --      -- 

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B is not contained herein, and no disclosure will be contained, to
the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [     ]


                                          1

<PAGE>

State issuer's revenues for its most recent year.

                                     $13,109,144

State the aggregate value of the voting stock held by non-affiliates computed by
reference to the price at which the stock was sold, or the average bid and asked
prices of such stock, as of a specified date within the past 60 days.  (See
definition of affiliate in Rule 12b-2 of the Exchange Act).

    $5,596,812 (computed on the basis of $7.25 per share, which was the last
    reported sales price on the over-the-counter market as reported by the
    National Association of Securities Dealers, Inc. for March 13, 1996.)

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date.

                                      771,974

                         DOCUMENTS INCORPORATED BY REFERENCE

Annual Report to Shareholders for fiscal year ended       Parts I and II
December 31, 1995 (the "1995 Annual Report")


Proxy Statement for 1996 Annual Meeting of
Shareholders to be held on April 24, 1996,
to be filed pursuant to Section 14(a) of
the Exchange Act (the "1996 Proxy Statement")

Transitional Small Business Disclosure Format:   Yes   No X
                                                    --    --


                                          2

<PAGE>


ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K.

(a)      ATTACHED HERETO ARE THE FOLLOWING EXHIBITS(1):

 27      Financial Data Schedule


                                          3


<PAGE>

                                      SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

                             TINSLEY LABORATORIES, INC.


April 24, 1996               By: /s/ ROBERT J. ARRONO
                                 ----------------------------
                                   Robert J. Aronno, Chairman of the Board of
                                   Directors, President, Chief Executive Officer
                                   and Chief Financial Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.

<TABLE>
<CAPTION>

SIGNATURE                  CAPACITY                                  DATE
- ---------                  --------                                  ----
<S>                        <C>                                       <C>
/s/ ROBERT J. ARRONO
- ------------------------   Chairman of the Board of Directors,       April 24, 1996
Robert J. Aronno           President, Chief Executive Officer,
                           Chief Financial Officer and Director
/s/ ROBERT J. JOHNSON
- ------------------------
Robert J. Johnson          Vice President-Marketing and Secretary    April 24, 1996

/s/ DANIEL J. BAJUK
- ------------------------
Daniel J. Bajuk            Executive Vice President                  April 24, 1996

/s/ JAMES A. KENNON
- ------------------------
James A. Kennon            Vice President                            April 24, 1996

/s/ STEPHEN L. DAVENPORT
- ------------------------
Stephen L. Davenport       Director                                  April 24, 1996

/s/ DANIEL J. DUCKHORN
- ------------------------
Daniel J. Duckhorn         Director                                  April 24, 1996

/s/ STEPHEN E. GLOBUS
- ------------------------
Stephen E. Globus          Director                                  April 24, 1996

/s/ STEVEN E. MANIOS
- ------------------------
Steven E. Manios           Vice President and Director               April 24, 1996

</TABLE>

                                           4

<TABLE> <S> <C>

<PAGE>
<ARTICLE> 5
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               DEC-31-1995
<CASH>                                         560,692
<SECURITIES>                                         0
<RECEIVABLES>                                2,407,898
<ALLOWANCES>                                    49,100
<INVENTORY>                                  1,864,988
<CURRENT-ASSETS>                             5,228,351
<PP&E>                                       9,525,765
<DEPRECIATION>                               4,240,278
<TOTAL-ASSETS>                              12,940,190
<CURRENT-LIABILITIES>                        2,580,992
<BONDS>                                              0
                                0
                                          0
<COMMON>                                       127,854
<OTHER-SE>                                   8,189,084
<TOTAL-LIABILITY-AND-EQUITY>                12,940,190
<SALES>                                     13,109,144
<TOTAL-REVENUES>                            13,109,144
<CGS>                                        9,088,148
<TOTAL-COSTS>                                9,088,148
<OTHER-EXPENSES>                             3,379,263
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             179,366
<INCOME-PRETAX>                                462,367
<INCOME-TAX>                                   193,982
<INCOME-CONTINUING>                            268,385
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   268,385
<EPS-PRIMARY>                                      .35
<EPS-DILUTED>                                      .35
        

</TABLE>


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