-----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, Ra2Qtyx3gdIs9wPxmOxQlcbPwRsEEaxBdb/UkKUp5xup7BJgso8NMbJI3cIfKDoR TGd5Lryf3dFlkDjCYaYpPQ== 0000813298-99-000004.txt : 19990625 0000813298-99-000004.hdr.sgml : 19990625 ACCESSION NUMBER: 0000813298-99-000004 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990501 FILED AS OF DATE: 19990624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DESIGNS INC CENTRAL INDEX KEY: 0000813298 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FAMILY CLOTHING STORES [5651] IRS NUMBER: 042623104 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: SEC FILE NUMBER: 000-15898 FILM NUMBER: 99651891 BUSINESS ADDRESS: STREET 1: 66 B STREET CITY: NEEDHAM STATE: MA ZIP: 02194 BUSINESS PHONE: 7814447222 MAIL ADDRESS: STREET 1: 66 B STREET CITY: NEEDHAM STATE: MA ZIP: 02194 10-Q/A 1 QUARTERLY REPORT ON FORM 10Q/A DATED JUNE 24, 1999 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q/A Amendment to Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 Quarter Ended May 1, 1999 Commission File Number 0-15898 DESIGNS, INC. (Exact name of registrant as specified in its charter) Delaware 04-2623104 (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) 66 B Street, Needham, MA 02494 (Address of principal executive offices) (Zip Code) (781) 444-7222 (Registrant's telephone number, including area code) Indicate by "X" whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities 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 as of May 1, 1999 ----- -------------------------------- Common 15,930,000 shares AMENDMENT NO 1 The undersigned registrant hereby amends its Quarterly Report on Form 10-Q for the quarter ended May 1, 1999 by deleting in its entirety the Consolidated Statements of Cash Flows for the three months ended May 1, 1999 and May 2, 1998 set forth therein and inserting in place thereof the Consolidated Statements of Cash Flows set forth below. DESIGNS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three months ended ------------------------------- May 1, May 2, 1999 1998 -------------- ----------- Cash flows from operating activities: Net loss $ (863) $ (3,052) Adjustments to reconcile to net cash provided by operating activities: Depreciation and amortization 1,726 2,491 Deferred taxes 114 - Minority interest - (226) Loss from disposal of property and equipment 112 130 Changes in operating assets and liabilities: Accounts receivable (302) (100) Inventories 5,445 (1,954) Prepaid expenses (2,120) (327) Other assets (39) (146) Reserve for severance and store closings (774) (1,308) Income taxes (530) 11,097 Accounts payable (3,273) 3,771 Accrued expenses and other current liabilities 2,327 544 Accrued rent (25) 241 ------------ ------------ Net cash provided by operating activities 1,798 11,161 ------------ ------------ Cash flows from investing activities: Additions to property and equipment (1,131) (151) Proceeds from disposal of property and equipment 73 87 ------------ ------------ Net cash used for investing activities (1,058) (64) ------------ ------------ Cash flows from financing activities: Net borrowings (repayments) under credit facility (996) (8,828) Issuance of common stock to Board of Directors 103 - Issuance of common stock under option program (1) - 16 ------------ ------------ Net cash used for financing activities (893) (8,812) ------------ ------------ Net (decrease) increase in cash and cash equivalents (153) 2,285 Cash and cash equivalents: Beginning of the period 153 1,473 ------------ ------------ End of the period - $3,758 ============ ============ (1)Net of related tax effect. The accompanying notes are an intergral part of the consolidated financial statements. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned hereunto duly authorized. DESIGNS, INC. Date: June 24, 1999 By: /s/ Joel H. Reichman ________________________________ Joel H. Reichman, President and Chief Executive Officer -----END PRIVACY-ENHANCED MESSAGE-----