-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, INjOFx/MlxzT42CbiVRX3L2+sxjirujCUrmUYeIumEzLnJnbNGIpKxk1V6ncCiHM mRDE0b6t2rJAlJPKpVIrag== 0000057201-95-000002.txt : 19950601 0000057201-95-000002.hdr.sgml : 19950601 ACCESSION NUMBER: 0000057201-95-000002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950107 FILED AS OF DATE: 19950221 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIANA CORP CENTRAL INDEX KEY: 0000057201 STANDARD INDUSTRIAL CLASSIFICATION: 5140 IRS NUMBER: 362448698 STATE OF INCORPORATION: DE FISCAL YEAR END: 0403 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-05486 FILM NUMBER: 95513719 BUSINESS ADDRESS: STREET 1: 250 E WISCONSIN AVE STREET 2: STE 1800 CITY: MILWAUKEE STATE: WI ZIP: 53202 BUSINESS PHONE: 4143550037 FORMER COMPANY: FORMER CONFORMED NAME: FH INDUSTRIES CORP DATE OF NAME CHANGE: 19850814 FORMER COMPANY: FORMER CONFORMED NAME: SCOT LAD FOODS INC DATE OF NAME CHANGE: 19841202 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the period ended January 7, 1995 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 1-5486 THE DIANA CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-2448698 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 8200 W. Brown Deer Road, Suite 200, Milwaukee, Wisconsin 53223 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (414) 355-0037 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. X Yes ___ No At January 31, 1995, the registrant had issued and outstanding an aggregate of 3,914,837 shares of its common stock. THE DIANA CORPORATION AND SUBSIDIARIES FORM 10-Q INDEX Page Part I. Financial Information Item 1. Financial Statements Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 7 Part II. Other Information Item 6. Exhibits and Reports on Form 8-K 12 Signatures 13 (i) PART I - FINANCIAL INFORMATION Item 1. Financial Statements The Diana Corporation and Subsidiaries Condensed Consolidated Balance Sheets (Dollars in Thousands)
January 7, April 2, 1995 1994 ----------- ---------- (Unaudited) ASSETS Current assets Cash and cash equivalents $ 2,459 $ 1,661 Restricted short-term investments 300 630 Marketable securities 6,554 11,254 Receivables 16,135 15,310 Inventories 12,698 15,441 Other current assets 622 336 ------ ------ Total current assets 38,768 44,632 Other assets 965 1,157 Property and equipment 3,702 3,881 Intangible assets 4,249 4,373 ------ ------ $ 47,684 $ 54,043 ====== ======
LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Short-term borrowings $ --- $ 2,144 Accounts payable 14,159 11,637 Accrued liabilities 1,509 1,072 Current portion of long-term debt 1,372 3,572 ------ ------ Total current liabilities 17,040 18,425 Long-term debt 8,036 10,539 Net liabilities of unconsolidated subsidiary 720 3,615 Other liabilities 1,010 977 Minority interest --- 1,635 Commitments and contingencies Shareholders' equity: Preferred stock - $.01 par value --- --- Common stock - $1 par value 4,810 4,638 Additional paid-in capital 48,548 46,241 Accumulated deficit (27,429) (25,449) Unrealized loss on marketable securities (313) (412) Treasury stock (4,738) (6,166) ------ ------ Total shareholders' equity 20,878 18,852 ------ ------ $ 47,684 $ 54,043 ====== ======
See notes to condensed consolidated financial statements. 1 The Diana Corporation and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts)
12 Weeks Ended January 7, January 8, 1995 1994 ---------- ---------- Net sales $ 55,159 $ 56,695 Other income 136 1,287 ------ ------ 55,295 57,982 Cost of sales 52,274 54,034 Selling and administrative expenses 2,338 2,286 ------ ------ Operating income 683 1,662 Interest expense (193) (287) Income tax credit (expense) (26) 400 Minority interest --- (70) Equity in earnings (loss) of unconsolidated subsidiaries (72) 41 ------ ------ Net earnings $ 392 $ 1,746 ====== ====== Earnings per common share $ .10 $ .48 ====== ====== Weighted average number of common shares outstanding 4,075 3,629 ====== ======
See notes to condensed consolidated financial statements. 2 The Diana Corporation and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts)
40 Weeks Ended January 7, January 8, 1995 1994 ---------- ---------- Net sales $186,163 $184,832 Other income (loss) (584) 2,260 ------- ------- 185,579 187,092 Cost of sales 176,980 176,760 Selling and administrative expenses 7,749 6,636 ------- ------- Operating income 850 3,696 Interest expense (777) (916) Non-operating income (expense) 68 (1,500) Income tax credit (expense) (26) 400 Minority interest (44) (207) Equity in earnings (loss) of unconsolidated subsidiaries (42) 108 ------- ------- Earnings before accounting change 29 1,581 Cumulative effect of accounting change --- 262 ------- ------- Net earnings $ 29 $ 1,843 ======= ======= Earnings per common share: Earnings before accounting change $ .01 $ .44 Cumulative effect of accounting change .00 .07 ------- ------- Net earnings $ .01 $ .51 ======= ======= Weighted average number of common shares outstanding 3,999 3,629 ======= =======
See notes to condensed consolidated financial statements. 3 The Diana Corporation and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) (Dollars in Thousands)
40 Weeks Ended January 7, January 8, 1995 1994 ---------- ---------- Operating Activities: Earnings before accounting change $ 29 $ 1,581 Reconciliation of earnings before accounting change to net cash provided by operating activities: Loss (gain) on sales of marketable securities 1,227 (324) Depreciation and amortization 865 806 Provision for deferred compensation 292 216 Non-operating expense --- 1,500 Minority interest 44 207 Equity in (earnings) loss of unconsolidated subsidiaries 42 (108) Payments of deferred compensation (111) (310) Changes in operating assets and liabilities 4,614 372 ------ ------ Net cash provided by operating activities 7,002 3,940 Investing activities: Additions to property and equipment (320) (320) Proceeds from notes receivable --- 169 Purchases of marketable securities (5,647) (16,430) Sales of marketable securities 9,276 15,552 Acquisition of Hollis, net of cash acquired --- (1,983) Other 142 15 ------- ------ Net cash provided (used) by investing activities 3,451 (2,997) Financing activities: Changes in short-term borrowings (2,144) 1,364 Payments on long-term debt (4,689) (3,380) Payment toward bond settlement (2,822) --- Other --- (57) ------ ------ Net cash used by financing activities (9,655) (2,073) ------ ------ Increase (decrease) in cash and cash equivalents 798 (1,130) Cash and cash equivalents at the beginning of the period 1,661 2,820 ------ ------ Cash and cash equivalents at the end of the period $ 2,459 $ 1,690 ====== ====== Non-cash transactions: Purchase of minority interest with common stock $ 1,895 $ --- Purchase of property and equipment financed by seller --- 320 Reduction of net liabilities of unconsolidated subsidiary --- 655
See notes to condensed consolidated financial statements. 4 The Diana Corporation and Subsidiaries Notes to Condensed Consolidated Financial Statements January 7, 1995 (Unaudited) NOTE 1 - Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the forty weeks ended January 7, 1995 are not necessarily indicative of the results that may be expected for the fiscal year ended April 1, 1995. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company's annual report on Form 10-K for the fiscal year ended April 2, 1994. Earnings per common share have been computed based upon the weighted average common shares outstanding and dilutive common stock equivalents (stock options). NOTE 2 - Commitments and Contingencies In connection with the sale in fiscal 1985 of substantially all of the assets of Diana's wholesale food business, the buyer assumed certain indebtedness of Diana, which terminates in fiscal 1998, for which Diana remains primarily liable. Such indebtedness aggregated approximately $469,000 at January 7, 1995. The buyer has pledged letters of credit for the benefit of the trustee of the indebtedness as collateral for this indebtedness. C&L participates in an equipment leasing arrangement. C&L is subject to a future subscription obligation relating to the equipment lease for approximately $525,000 at January 7, 1995, if income from the underlying lease is insufficient to fund future operations of the arrangement. The lease for equipment expires in January 1999. The sellers have indemnified the Company with respect to any future subscription obligations. 5 The Diana Corporation and Subsidiaries Notes to Condensed Consolidated Financial Statements (Continued) NOTE 3 - Related Party Transactions At January 7, 1995 and April 2, 1994, other assets includes a receivable of $358,000 and $387,000, respectively, from the sellers of C&L. Pursuant to the Stock Purchase Agreement executed in connection with the acquisition of C&L, the sellers are to reimburse the Company for any of the Company's net operating losses used to offset taxable income generated by certain investments owned by C&L. The receivable represents 34% of the initial excess of the financial reporting basis over the income tax basis of such investments less amounts collected for use of net operating losses in fiscal 1993 and 1994. The sellers are currently employed as officers by C&L. Effective June 1994, the Company acquired the remaining 20% of C&L's common stock from its minority shareholders in exchange for 265,262 shares (adjusted for the 5% stock dividend paid in July 1994) of the Company's common stock. The pro forma results of operations for the forty weeks ended January 7, 1995 and January 8, 1994 assuming that this transaction had occurred at the beginning of these periods are as follows (in thousands, except per share amounts): January 7, January 8, 1995 1994 ---------- ---------- Earnings before accounting change $ 73 $1,788 ====== ====== Earnings per share before accounting change $ .02 $ .46 ====== ====== This pro forma information does not purport to be indicative of the results that actually would have been obtained if the combined operations had been conducted during the periods presented and is not intended to be a projection of future results. NOTE 4 - Other On December 31, 1994, the option granted on August 26, 1994 by the Company and Entree Corporation to G. Michael Coggins, President of Atlanta Provision Company, Inc. ("APC"), to purchase all of the Common and Preferred Stock of APC expired unexercised. 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Results of Operations The following is a summary of sales for the third quarter and year-to- date of fiscal 1995 and 1994, including sales by significant product line for APC (in thousands): Third Quarter Year-To-Date ------------- ------------ 1995 1994 1995 1994 ---- ---- ---- ---- C&L $ 7,927 $ 7,646 $ 27,705 $ 19,928 Beef 22,512 24,869 79,410 89,882 Pork 8,790 9,110 31,450 30,932 Other 15,930 15,070 47,598 44,090 ------ ------ ------- ------- APC Total 47,232 49,049 158,458 164,904 ------ ------ ------- ------- $ 55,159 $ 56,695 $ 186,163 $ 184,832 ====== ====== ======= ======= For the twelve weeks ended January 7, 1995, net sales decreased $1,536,000 or 2.7% from fiscal 1994 third quarter net sales. C&L's net sales increased $281,000 or 3.7% over fiscal 1994 third quarter net sales primarily due to sales of products used in digital networks for integrated voice and data communication systems. APC's overall volume (based on tonnage) during this period increased by .2%, however, net sales decreased $1,817,000 or 3.7% from fiscal 1994 third quarter net sales. The average sales price per pound decreased from $1.17 per pound in fiscal 1994 to $1.12 per pound in fiscal 1995. This decrease in average sales price per pound is primarily due to sales price decreases in beef and pork because of excess product availability in these markets. The decreases in beef and pork sales in the third quarter are primarily attributable to reduced average sales price per pound. For the forty weeks ended January 7, 1995, net sales increased $1,331,000 or .7% over fiscal 1994 sales for the same period of time. C&L's fiscal 1995 year-to-date sales increased $7,777,000 or 39% from fiscal 1994. The increase in C&L's year-to-date sales is attributable to increased sales of call controllers (see discussion in the following paragraph) and products used in digital networks for integrated voice and data communications systems. APC's overall volume (based on tonnage) during this period increased by .6%, however, net sales decreased by $6,446,000 or 3.9% from fiscal 1994 sales for the same period of time. The average sales price per pound during the forty weeks ended January 7, 1995 decreased from $1.22 in fiscal 1994 to $1.16 in fiscal 1995. The reason for the decrease in the average sales price per pound is the same as the third quarter decrease above. The year-to-date decrease in beef sales is primarily attributable to reduced average sales price per pound and to a lesser extent decreased volume. During the second quarter of fiscal 1995 C&L completed the sale of call controllers pursuant to a purchase commitment made by a customer in fiscal 1994. This order resulted in call controller sales of $3,648,000 for the forty weeks ended January 7, 1995. Sales attributable to this order significantly impacted the increase in C&L's year-to-date call controller 7 sales and total year-to-date sales over the prior year results. The Company does not anticipate that the percentage increase in C&L's sales for the forty weeks ended January 7, 1995 will be maintained for the balance of fiscal 1995. Other income decreased $1,151,000 or 89.4% and $2,844,000 or 125.8%, respectively, for the twelve and forty weeks ended January 7, 1995. The decreases are attributable to lower interest income from marketable securities and losses incurred on the disposition of marketable securities. The increase in interest rates adversely impacted Diana's marketable securities which prior to the end of the second quarter of fiscal 1995 consisted primarily of investments in corporate debt obligations. Consequently, Diana's corporate office has reduced its investment in these securities resulting in reduced interest income and losses on investments that were sold. In addition, during the third quarter of fiscal year 1994, Diana recorded $733,000 of interest income resulting from the refund of federal income taxes of $400,000 (shown separately as an income tax credit) paid in a prior year. For the twelve weeks ended January 7, 1995, gross profit increased $224,000 or 8.4% from the same period in fiscal 1994. On a consolidated basis, gross profit as a percentage of net sales was 5.2% in the third quarter of fiscal 1995 as compared to 4.7% in the third quarter of fiscal 1994. The increase in the gross profit percentage is primarily attributable to an increase in C&L's higher gross profit sales as a percentage of total sales (14.4% of fiscal 1995 net sales compared to 13.5% of net sales in fiscal 1994). C&L's gross profit as a percentage of its net sales was 20.8% in the third quarter of fiscal 1995 as compared to 19.3% in fiscal 1994. The increase in C&L's gross profit percentage is due to an increase in the gross profit percentage from the sales of call controllers. APC's gross profit as a percentage of its net sales was 2.6% in the third quarter of fiscal 1995, as compared to 2.4% in fiscal 1994. For the twelve weeks ended January 7, 1995, gross profit and the gross profit percentage as compared to the corresponding period in fiscal 1994 increased primarily due to lower product costs. The decrease in product costs was offset somewhat by increased transportation and warehouse costs and inventory losses due to inefficiencies in APC's warehouse and transportation operations (see discussion below). For the forty weeks ended January 7, 1995, gross profit increased $1,111,000 or 13.8% from the same period in fiscal 1994. On a consolidated basis, year-to-date gross profit as a percentage of net sales was 4.9% in fiscal 1995 as compared to 4.4% in fiscal 1994. The increase in the gross profit percentage is primarily attributable to an increase of C&L's higher gross profit sales as a percentage of total sales (14.9% of fiscal 1995 net sales compared to 10.8% of net sales in fiscal 1994). C&L's gross profit as a percentage of its net sales was 19.7% for the forty weeks ended January 7, 1995 as compared to 20.7% for the same period of time in fiscal 1994. The decrease in C&L's gross profit percentage is due to a lower gross profit percentage achieved on the large call controller sale discussed above and to an increasingly competitive market for products used in digital networks for integrated voice and data communications systems. APC's gross profit as a percentage of its net sales for the forty weeks ended January 7, 1995 was 2.4%, unchanged from the same period of time in fiscal 1994. 8 For the twelve weeks ended January 7, 1995, selling and administrative expenses increased $52,000 or 2.3% over the same period in fiscal 1994. Selling and administrative expenses as a percentage of net sales were 4.2% for the twelve weeks ended January 7, 1995 as compared to 4% for the same period in fiscal 1994. Selling and administrative expenses have increased because of increased selling and advertising expenses incurred by C&L to penetrate new and existing markets. C&L is incurring additional expenses to add non-domestic customers with an initial emphasis in Mexico. For the forty weeks ended January 7, 1995, selling and administrative expenses increased $1,113,000 or 16.8% over the same period in fiscal 1994. Selling and administrative expenses as a percentage of net sales were 4.2% for the forty weeks ended January 7, 1995 as compared to 3.6% for the same period in fiscal 1994. The increase in selling and administrative expenses is attributable to the same factors discussed above. For the twelve and forty weeks ended January 7, 1995, interest expense decreased $94,000 or 32.8% and $139,000 or 15.2%, respectively, over the same periods in fiscal 1994. The decreases are primarily attributable to a reduction in short term borrowings by Diana's corporate office. Short term borrowings were eliminated during the second quarter of fiscal 1995 because of the reduction of marketable securities discussed above. For the forty weeks ended January 7, 1995 non-operating income consisted of a settlement payment of $233,000 received pursuant to a court order partially offset by a non-operating expense of $165,000 representing a charge related to the settlement of a discrimination suit brought by a former employee of one of the Company's subsidiaries. For the forty weeks ended January 8, 1994 the non-operating expense of $1,500,000 was an increase in the reserve for the bond litigation which was settled in March 1994. This charge was subsequently reversed in the fourth quarter of fiscal 1994 because of the settlement of the litigation. As further discussed in Note 3 to the Condensed Consolidated Financial Statements, the decrease in minority interest is attributable to the Company's acquisition of the remaining 20% of C&L's common stock from its minority shareholders. For the twelve and forty weeks ended January 7, 1995, equity in earnings (loss) of unconsolidated subsidiaries decreased $113,000 and $150,000, respectively, from the same periods in fiscal 1994. The primary reason for the decrease is due to lower earnings from APC's subsidiary. APC began to incur inefficiencies in its warehouse and transportation operations in the third quarter of fiscal 1994. These inefficiencies resulted primarily in increased warehouse and transportation payroll expenses which exceeded prior years and budgeted amounts in both fiscal 1994 and 1995. These increased expenses adversely impacted APC's fiscal 1995 results as compared to fiscal 1994. In the first quarter of fiscal 1995, APC engaged a management consulting firm to examine, evaluate and assist in restructuring its operations. In addition, APC has made management changes and has implemented new procedures in an attempt to improve its warehouse and transportation operations. APC is incurring additional expenses in fiscal 1995 resulting from the consulting services, in addition to increased warehouse and transportation payroll expenses and inventory losses resulting 9 from a continuation of the operating inefficiencies. Management has not determined how long the Company's results of operations will be adversely impacted by this situation. During the latter part of fiscal 1995's third quarter, APC obtained a significant, new customer. APC will service the Southeastern region of this national warehouse club. This new customer will generate a significant amount of volume at margins that are lower than APC's average historical margins. Initially, the addition of this new business has increased the operational inefficiencies discussed above. After the resolution of these operational inefficiencies, APC should be able to service this customer at a lower average cost than its other customers because of efficiencies that should result from shipping large volumes of product. Due to the addition of this new customer and the limits on APC's ability to efficiently service certain customers, APC is reviewing and evaluating the service requirements and profitability of these customers to identify less profitable business that can be discontinued. LIQUIDITY AND CAPITAL RESOURCES The Company's working capital was $21,728,000 at January 7, 1995 as compared to $26,207,000 at April 2, 1994. The decrease in working capital of $4,479,000 is primarily attributable to payments of $2,822,000 made by the Company pursuant to the settlement of the Ossmann suit, losses incurred on the Company's marketable securities and a reduction in C&L's borrowings under its Loan and Security Agreement. The Company reported cash flow from operating activities of $7,002,000 during the forty weeks ended January 7, 1995, as compared to a cash flow of $3,940,000 during the comparable period in fiscal 1994. The primary reason for the improved cash flow is due to the collection in fiscal 1995 by Diana's corporate office of a receivable from the Internal Revenue Service recorded during the third quarter of fiscal 1994 for a tax refund and interest thereon (discussed above) and better management of inventory through a reduction in inventory levels and increased inventory turnover by both C&L and APC. Receivables have increased primarily because of an increase in APC's receivables resulting from business obtained from the new customer discussed above. Accounts payable have increased primarily because of an increase in APC's accounts payable resulting from better terms obtained by APC from certain of its suppliers. APC's inventory has not reflected the same level of increase as accounts receivable or accounts payable because product sold to this new customer turns over faster than the remainder of APC's inventory. In addition to the losses realized on the Company's marketable securities during the twelve and forty weeks ended January 7, 1995 that was previously discussed, the Company had unrealized losses on its remaining marketable securities at January 7, 1995 of $313,000. These unrealized losses are not reported in the Statement of Operations, however, they are reported as a separate component of Shareholders' Equity at January 7, 1995. For the forty weeks ended January 7, 1995, the Company had $320,000 of capital expenditures. C&L's and APC's Loan and Security Agreements include covenants that restrict capital expenditures. In fiscal 1995, C&L's and APC's capital expenditures will be limited to $700,000 because of covenants in their Loan and Security Agreements that restrict capital expenditures. 10 C&L's credit facility provides for a revolving line of credit of up to $6,000,000 with interest at the prime rate plus .25% through December 1995. At January 7, 1995, C&L borrowed $847,000 and had available unused borrowing capacity of $5,153,000. APC's credit facility provides a revolving line of credit of up to $9,500,000 with interest at the prime rate plus 2% through November 1996. A $2 million letter of credit facility is included within the total credit facility. At January 7, 1995, APC borrowed $5,196,000 and had letters of credit of $1,500,000 issued on its behalf. At January 7, 1995, APC had available unused borrowing capacity of $2,054,000. 11 PART II. OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K a) Exhibits: 27 - Financial Data Schedule b) Reports on Form 8-K: None 12 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. THE DIANA CORPORATION By:/s/ Richard Y. Fisher Richard Y. Fisher Chairman of the Board, President and Chief Executive Officer By:/s/ R. Scott Miswald R. Scott Miswald Principal Financial Officer DATE: February 17, 1995 EX-27 2
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE DIANA CORPORATION AS OF AND FOR THE 40 WEEKS ENDING JANUARY 7, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 1,000 9-MOS APR-01-1995 APR-03-1994 JAN-07-1995 2759 6554 16850 (715) 12698 38768 8115 (4413) 47684 17040 8036 4810 0 0 21119 47684 186163 185579 176980 176980 7749 0 777 55 26 29 0 0 0 29 .01 .01
-----END PRIVACY-ENHANCED MESSAGE-----