-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LnBrgWayKFnVk2YbctthI6wlfD30v2kdDjPFwSoNOMyi4tBvI0ofcnAO10rg+k1w iKb90aOYTJbycq4SJhfYkw== 0000927356-96-000270.txt : 19960514 0000927356-96-000270.hdr.sgml : 19960514 ACCESSION NUMBER: 0000927356-96-000270 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960329 FILED AS OF DATE: 19960513 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: EVANS & SUTHERLAND COMPUTER CORP CENTRAL INDEX KEY: 0000276283 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690] IRS NUMBER: 870278175 STATE OF INCORPORATION: UT FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-08771 FILM NUMBER: 96561002 BUSINESS ADDRESS: STREET 1: 600 KOMAS DR CITY: SALT LAKE CITY STATE: UT ZIP: 84108 BUSINESS PHONE: 8015825847 MAIL ADDRESS: STREET 1: 600 KOMAS DR CITY: SALT LAKE CITY STATE: UT ZIP: 84108 10-Q 1 MARCH FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------------------- FORM 10-Q (MARK ONE) [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 29, 1996 OR [ ] 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 0-8771 EVANS & SUTHERLAND COMPUTER CORPORATION (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) UTAH 87-0278175 (STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.) 600 KOMAS DRIVE, SALT LAKE CITY, UTAH 84108 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (801) 588-1000 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 THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE. CLASS OUTSTANDING SHARES AT MAY 3, 1996 ----- --------------------------------- COMMON STOCK, $0.20 PAR VALUE 8,929,824 1 FORM 10-Q EVANS & SUTHERLAND COMPUTER CORPORATION QUARTER ENDED MARCH 29, 1996 PAGE NO. TABLE OF CONTENTS 2 PART I - FINANCIAL INFORMATION GENERAL STATEMENT 3
ITEM 1. FINANCIAL STATEMENTS CONSOLIDATED STATEMENTS OF EARNINGS - THREE MONTHS ENDED MARCH 29, 1996 AND MARCH 31, 1995 4 CONSOLIDATED BALANCE SHEETS - MARCH 29, 1996 AND DECEMBER 29, 1995 5-6 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - THREE MONTHS ENDED MARCH 29, 1996 AND MARCH 31, 1995 7 NOTES TO FINANCIAL STATEMENTS 8 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 9-11 PART II - OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K 12 SIGNATURE PAGE 13
2 EVANS & SUTHERLAND COMPUTER CORPORATION PART I - FINANCIAL INFORMATION GENERAL STATEMENT: THE FOLLOWING CONSOLIDATED STATEMENTS OF EARNINGS, CONSOLIDATED BALANCE SHEETS, AND CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS HAVE BEEN PREPARED FROM THE ACCOUNTING RECORDS OF EVANS & SUTHERLAND COMPUTER CORPORATION WITHOUT AUDIT (EXCEPT WHERE PRESENTED DATA IS SPECIFICALLY IDENTIFIED AS AUDITED) IN ACCORDANCE WITH SECURITIES AND EXCHANGE COMMISSION REGULATIONS. THE FINANCIAL STATEMENTS WERE PREPARED IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES APPLIED ON A BASIS CONSISTENT WITH PRIOR PERIODS. ALL ADJUSTMENTS REFLECTED IN THE STATEMENTS ARE OF A NORMAL RECURRING NATURE AND ARE NECESSARY FOR A FAIR PRESENTATION OF RESULTS FOR THE INTERIM PERIODS PRESENTED. IT IS MANAGEMENT'S OPINION THAT THE INFORMATION PRESENTED HEREIN REFLECTS A FAIR STATEMENT OF THE RESULTS OF THE INTERIM PERIOD(S) IN ALL MATERIAL RESPECTS. THE RESULTS OF OPERATIONS FOR ANY INTERIM PERIOD ARE NOT NECESSARILY INDICATIVE OF RESULTS FOR A FULL YEAR. THESE CONDENSED FINANCIAL STATEMENTS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND NOTES THERETO CONTAINED IN THE COMPANY'S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 29, 1995 AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. 3 EVANS & SUTHERLAND COMPUTER CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS THREE MONTHS ENDED MARCH 29,1996 AND MARCH 31, 1996 (IN THOUSANDS EXCEPT PER SHARE AMOUNTS) THREE MONTHS ENDED (UNAUDITED) ------------------------- MARCH 29, MARCH 31, 1996 1996 --------- --------- NET SALES $ 26,686 $ 19,286 COST OF SALES 14,192 8,522 --------- --------- GROSS PROFIT 12,494 10,764 EXPENSES: MARKETING, GENERAL AND AMINISTRATIVE 6,684 7,938 RESEARCH AND DEVELOPMENT 5,319 6,208 --------- --------- TOTAL EXPENSES 12,003 14,146 OPERATING PROFIT (LOSS) 491 (3,382) OTHER INCOME 726 4,339 --------- --------- EARNINGS BEFORE INCOME TAXES 1,217 957 INCOME TAX EXPENSE 462 359 --------- --------- NET EARNINGS $ 755 $ 598 ========= ========= EARNINGS PER SHARE (NOTE 2) $ 0.08 $ 0.07 NUMBER OF SHARES USED IN EARNINGS PER SHARE CALCULATION 9,032 8,563
4 EVANS & SUTHERLAND COMPUER CORPORATION CONSOLIDATED BALANCE SHEETS MARCH 29, 1996 AND DECEMBER 29, 1995 (U.S. DOLLARS IN THOUSANDS) MARCH 29, DECEMBER 29, 1996 1995 ASSETS (UNAUDITED) (AUDITED) - --------- ----------------- --------------- CURRENT ASSTETS: CASH AND CASH EQUIVALENTS $ 2,465 $ 5,023 MARKETABLE SECURITIES 73,170 86,718 RECEIVABLES: TRADE ACCOUNTS, LOSS ALLOWANCE FOR DOUBTFUL RECEIVABLES OF $ 208 IN 1996 AND $172 IN 1995 22,084 25,625 INTEREST: 1,318 1,201 EMPLOYEES AND OTHER 364 295 -------- -------- TOTAL RECEIVABLES 23,766 27,121 INVENTORIES, NET (NOTE1) 22,164 18,981 COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS 19,793 15,052 DEFERRED INCOME TAX 6,508 6,645 PREPAID EXPENSES AND DEPOSITS 3,661 1,464 -------- -------- TOTAL CURRENT ASSETS 151,527 161,004 -------- -------- PROPERTY, PLANT AND EQUIPMENT, AT COST 107,850 106,147 LESS ACCUMULATED DEPRECIATION AND AMORTIZATION 67,394 65,292 -------- -------- NET PROPERTY, PLANT, AND EQUIPMENT 40,456 40,855 INVESTMENT SECURITIES 6,240 7,437 OTHER ASSETS, AT COST, LESS ACCUMULATED AMORTIZATION 2,717 1,706 -------- -------- TOTAL ASSETS $200,940 $211,002 ======== ========
5 EVANS & SUTHERLAND COMPUTER CORPORATION CONSOLIDATED BALANCE SHEETS MARCH 29, 1996 AND DECEMBER 29, 1995 (U.S. DOLLARS IN THOUSANDS) MARCH 29, DECEMBER 29, 1996 1995 LIABILITIES AND STOCKHOLDERS' EQUITY (UNAUDITED) (AUDITED) - ------------------------------------- ----------------- ---------------- CURRENT LIABILITIES NOTES PAYABLE TO BANKS $ 4,711 $ 3,773 ACCOUNTS PAYABLE 2,070 2,804 ACCURUED EXPENSES 16,014 14,849 CUSTOMER DEPOSITS 2,551 5,436 INCOME TAXES PAYABLE 616 10,676 BILLINGS IN EXCESS OF COST AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS 6,016 5,055 ------------- ------------ TOTAL CURRENT LIABILITIES 31,978 42,593 LONG-TERM DEBT 18,258 18,015 DEFERRED INCOME TAXES 1,221 1,903 STOCKHOLDERS' EQUITY: COMMON STOCK, $.20 PER VALUE; AUTHORIZED 30,000,000 SHARES; ISSUED AND OUTSTANDING 8,896,459 SHARES AT MARCH 29, 1996 AND 8,715,320 SHARES AT DECEMBER 29, 1995 1,779 1,743 ADDITIONAL PAID-IN CAPITAL 5,649 5,112 RETAINED EARNINGS 141,433 140,062 NET UNREALIZED GAIN ON MARKETABLE SECURITIES 639 1,694 CUMULATIVE TRANSLATION ADJUSTMENT (17) (120) ------------- ------------ TOTAL STOCKHOLDERS' EQUITY 149,483 148,491 ------------- ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $200,940 $211,002 ============= ============
6 EVANS & SUTHERLAND COMPUTER CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS THREE MONTHS ENDED MARCH 29, 1996 AND MARCH 31, 1995 (U.S. DOLLARS IN THOUSANDS)
THREE MONTHS ENDED (UNAUDITED) ----------------------------- MARCH 29, MARCH 31, 1996 1995 -------- -------- NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $(15,606) $(1,027) CASH FLOWS FROM INVESTING ACTIVITIES: CAPITAL EXPENDITURES (1,857) (1,390) PURCHASE OF MARKETABLE SECURITIES (30,357) - PROCEEDS FROM SALE OF MARKETABLE SECURITIES 43,353 8,519 -------- ------- NET CASH PROVIDED BY INVESTING ACTIVITIES 11,139 7,129 CASH FLOWS FROM FINANCING ACTIVITIES: NET PROCEEDS FROM ISSUANCE OF COMMON STOCK 573 687 NET BORROWINGS UNDER THE LINE OF CREDIT AGREEMENTS 1,043 930 OTHER 243 -------- ------- NET CASH PROVIDED BY FINANCING ACTIVITIES 1,859 1,617 EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH 51 69 -------- ------- NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,557) 7,788 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 5,023 25,213 -------- ------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 2,466 $33,001 ======== ======= SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION CASH PAID DURING THE PERIOD FOR: INTEREST $ 609 $ 626 INCOME TAXES $10,292 $ 38
7 EVANS & SUTHERLAND COMPUTER CORPORATION NOTES TO FINANCIAL STATEMENTS (Dollars in Thousands) (1) INVENTORIES ARE SUMMARIZED AS FOLLOWS:
MARCH 29, DECEMBER 29, 1996 1995 (UNAUDITED) (AUDITED) ------------ ------------ RAW MATERIALS AND SUPPLIES $ 7,817 $ 7,404 WORK-IN-PROCESS 12,244 8,983 FINISHED GOODS 2,103 2,594 ------- ------- $22,164 $18,981 ======= =======
(2) EARNINGS PER SHARE: PRIOR TO JANUARY 1, 1996, THE COMPANY HAS NOT INCLUDED COMMON STOCK EQUIVALENTS IN ITS EARNING PER SHARE CALCULATION AS THE IMPACT WAS IMMATERIAL. BEGINNING JANUARY 1, 1996 THE COMPANY HAS INCLUDED SUCH ITEMS. 8 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (U.S. DOLLARS IN THOUSANDS) THE FOLLOWING TABLE SUMMARIZES CHANGES IN OPERATIONS FOR THE PERIODS INDICATED AND PRESENTS THE PERCENTAGE OF INCREASE (DECREASE) BY LISTED ITEMS COMPARED TO THE INDICATED PRIOR PERIOD:
(UNAUDITED) QUARTERS ENDED MARCH 31, 1996 AND MARCH 31, 1995 -------------------------- NET SALES $ 7,400 38.4% COST OF SALES 5,670 66.5% ------- ------- GROSS PROFIT 1,730 16.1% EXPENSES: MARKETING, GENERAL AND ADMINISTRATIVE (1,254) (15.8%) RESEARCH AND DEVELOPMENT (889) (14.3%) ------- ------- TOTAL EXPENSES (2,143) (15.1%) OPERATING PROFIT 3,873 114.5% OTHER INCOME (EXPENSE), NET (3,613) (83.3%) ------- ------- EARNINGS BEFORE INCOME TAXES 260 (27.2%) INCOME TAX EXPENSE 103 28.7% ------- ------- NET EARNINGS $ 157 26.3% ======= =======
9 RESULTS OF OPERATIONS - --------------------- SALES - ----- SALES FOR THE FIRST THREE MONTHS OF 1996 WERE 38% GREATER THAN THOSE OF THE CORRESPONDING 1995 PERIOD DUE TO INCREASED VOLUME. GOVERNMENT SIMULATION SALES, WHICH REPRESENT 78% OF TOTAL SALES FOR THE QUARTER, ARE 43% HIGHER FOR THE FIRST QUARTER 1996 AS COMPARED TO THE RESPECTIVE QUARTER 1995. THIS INCREASE REFLECTS THE STRONG ACTIVITY DURING 1995 WHERE ORDERS WERE UP 22% FROM THE PREVIOUS YEAR AND BACKLOG STOOD AT RECORD LEVELS. ORDERS CONTINUE TO BE STRONG DURING THE FIRST QUARTER OF 1996 AS ANTICIPATED. SALES IN THE COMPANY'S GRAPHICS SYSTEMS PRODUCT LINE ARE LOWER THAN IN THE PREVIOUS YEAR DUE TO THE DIVESTITURE OF CDRS IN APRIL, 1995, BUT THE COMPANY CONTINUES TO SUPPLY GRAPHICS ACCELERATORS AND SOFTWARE PRODUCTS TO ITS OEM CUSTOMERS. COMMERCIAL SIMULATION SALES FOR THE RESPECTIVE QUARTERS ARE HIGHER IN 1996 OVER 1995. THE INCREASED ACTIVITY IN THIS SECTOR REFLECTS THE GRADUAL IMPROVEMENT IN THE COMMERCIAL SIMULATION MARKET AND THE MARKET'S REACTION TO THE COMPANY'S APPROACH TO SUPPLYING A COMPLETE SYSTEM RATHER THAN COMPONENTS. EDUCATION AND ENTERTAINMENT SALES DURING THE QUARTER ARE UP OVER THE FIRST QUARTER OF 1995. SHIPMENTS OF THE COMPANY'S DIGISTAR II PLANETARIUM SYSTEM CONTINUES TO BE STRONG AND ACCOUNTS FOR THE MAJORITY OF THIS PRODUCT LINE REVENUE. COST OF SALES - ------------- COST OF SALES, AS A PERCENTAGE OF SALES, AVERAGED 53% FOR THE THREE MONTHS OF 1996. THIS RATE IS BELOW THE ANNUAL RATE OF 55% FOR 1995, BUT ABOVE THE RATE OF 44% FOR THE FIRST QUARTER OF 1995. THE LOW RATE IN 1995 FOR THE FIRST QUARTER WAS DUE TO ONE-TIME ADJUSTMENTS IN LONG-TERM CONTRACTS ATTRIBUTED TO THE COMPANY'S RESTRUCTURING ACTIVITIES IN JANUARY OF 1995 WHICH SIGNIFICANTLY REDUCED EXPENSES. EXPENSES - -------- TOTAL EXPENSES FOR THE THREE MONTHS OF 1996 DECREASED $2,143,000 (15%) BELOW THE CORRESPONDING 1995 FIRST QUARTER. FROM AN ONGOING BUSINESS VIEWPOINT (EXCLUDING EXPENSES OF THE DESIGN SOFTWARE BUSINESS WHICH WAS SOLD DURING THE SECOND QUARTER OF 1995), TOTAL EXPENSES FOR THE QUARTER ARE JUST $77,000 ABOVE THE FIRST QUARTER 1995 AND ARE IN LINE WITH EFFORTS MADE IN RESTRUCTURING THE COMPANY IN EARLY 1995. MARKETING, GENERAL, AND ADMINISTRATIVE: MARKETING, GENERAL, AND ADMINISTRATIVE EXPENSE, EXCLUDING THE DESIGN SOFTWARE BUSINESS, INCREASED $271,000 IN 1996 AS COMPARED WITH THE FIRST QUARTER OF 1995. AS A PERCENTAGE OF SALES, FIRST QUARTER 1996 EXPENSES ARE 25% AS COMPARED WITH 41% FOR THE FIRST QUARTER 1995. RESEARCH AND DEVELOPMENT: RESESARCH AND DEVELOPMENT DECREASED $898,000 IN 1996 AND WAS 20% AS A PERCENTAGE OF SALES, COMPARED TO 32% IN 1995. EXCLUDING THE FIRST QUARTER 1995 DESIGN SOFTWARE RESEARCH AND DEVELOPMENT EXPENSES, THE FIRST QUARTER 1996 EXPENSES ARE $194,000 LOWER THAN THE FIRST QUARTER 1995. OTHER INCOME (EXPENSE), NET - --------------------------- OTHER INCOME IS DOWN FOR THE FIRST QUARTER 1996 AS COMPARED TO THE FIRST QUARTER OF 1995 BY $3,613,000. MOST OF THE DIFFERENCE IS DUE TO THE FACT THAT IN 1996 THERE WERE NO SALES OF INVESTMENT SECURITIES WHEREAS IN 1995 THERE WAS A PRE-TAX GAIN OF $3,942,000 FROM THE SALE OF INVESTMENT SECURITIES. THIS WAS PARTIALLY OFFSET BY NET INTEREST INCOME WHICH WAS HIGHER FOR THE FIRST QUARTER OF 1996 COMPARED TO 1995 BY $430,000. THIS INCREASE WAS DUE TO HIGHER AMOUNTS OF INTEREST EARNING MARKETABLE SECURITIES HELD DURING THE FIRST QUARTER OF 1996 COMPARED TO THE FIRST QUARTER OF 1995. CURRENCY TRANSACTIONS AND OTHER MISCELLANEOUS ITEMS ACCOUNTED FOR THE REST OF THE DIFFERENCES BETWEEN THE RESPECTIVE QUARTERS. 10 INCOME TAXES - ------------ AN ESTIMATED BOOK TAX RATE OF 38% WAS UTILIZED FOR INCOME TAX TRANSACTIONS IN THE FIRST QUARTER OF 1996 AND FOR 1995. LIQUIDITY & CAPITAL COMMITMENTS - ------------------------------- FUNDS TO SUPPORT THE COMPANY'S OPERATIONS COME MAINLY FROM PROCEEDS FROM THE SALE OF TEMPORARY CASH INVESTMENTS, BORROWINGS UNDER LINE OF CREDIT AGREEMENTS, AND PROCEEDS FROM EMPLOYEE STOCK PURCHASE AND OPTION PLANS. IN THE LATTER PART OF 1995, THE COMPANY BEGAN TO INVEST SHORT-TERM FUNDS INTO OTHER INSTRUMENTS SUCH AS STATE AND MUNICIPAL SECURITIES, CORPORATE DEBT SECURITIES AND MORTGAGE-BACKED SECURITIES. PREVIOUSLY, SHORT-TERM FUNDS HAD BEEN IN U.S. TREASURY OBLIGATIONS ONLY. ALTHOUGH THE COMPANY CONTINUES TO BE HEAVILY INVESTED IN U.S.TREASURY OBLIGATIONS, THE EXPANSION INTO OTHER MARKETABLE SECURITIES HAS IMPROVED THE RETURN ON SHORT-TERM FUNDS. CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES DECREASED $16,106,000 TO $75,635,000 DURING THE FIRST QUARTER OF 1996 PRINCIPALLY BECAUSE OF THE NEED TO FUND 1995 FEDERAL TAX PAYMENTS. THE VALUE OF COMPANY-OWNED INVESTMENT SECURITIES DECLINED $1,197,000 TO $6,240,000 DURING THE QUARTER. TERABIT - ------- ON MARCH 20, 1996, THE COMPANY ISSUED SHARES OF ITS COMMON STOCK FOR ALL OF THE ASSETS OF TERABIT COMPUTER SPECIALITY COMPANY, INC. (TERABIT). THE TRANSACTION HAS BEEN TREATED AS A POOLING OF INTERESTS, BUT AS IT WAS IMMATERIAL, THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS HAVE NOT BEEN RESTATED TO INCLUDE THE ACCOUNTS AND OPERATIONS OF TERABIT FOR ALL PERIODS PRIOR TO THE MERGER. WITH THE ADDITION OF TERABIT, THE COMPANY CREATED A FIFTH BUSINESS UNIT, THE DISPLAY SYSTEMS UNIT, TO INCORPORATE TERABIT PLUS SEVERAL RELATED COMPANY PROJECTS. 11 PART II - OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - ------- -------------------------------- (B) THERE WERE NO REPORTS ON FORM 8-K FILED FOR THE THREE-MONTH PERIOD ENDED MARCH 29, 1996. [THIS SPACE INTENTIONALLY LEFT BLANK] 12 EVANS & SUTHERLAND COMPUTER CORPORATION SIGNATURES PURSUANT TO THE REQUIREMENTS OF THE SECURITIES AND EXCHANGE ACT OF 1934, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED THEREUNTO DULY AUTHORIZED. EVANS & SUTHERLAND COMPUTER CORPORATION --------------------------------------- REGISTRANT DATE MAY 9, 1996 /s/ ----------- ----------------------------------------- JOHN T. LEMLEY, VICE PRESIDENT AND CHIEF FINANCIAL OFFICER 13 EX-27 2 FINANCIAL DATA SCHEDULE
5 1,000 3-MOS DEC-27-1996 MAR-29-1996 75,635 3,240 23,974 208 22,164 151,527 107,850 67,394 200,940 31,978 18,015 1,779 0 0 147,704 200,940 26,686 26,686 14,192 12,003 108 0 351 1,217 462 755 0 0 0 755 .08 .08
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