-----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, LkRr8O9IbwSVE3hQGogPHnp4VH3tEW0xB+g2yATWCa1vS+BqME+y/nZMXpbJE80j SXRvLWqnH64xdSDMLC55aQ== 0000819977-98-000016.txt : 19980826 0000819977-98-000016.hdr.sgml : 19980826 ACCESSION NUMBER: 0000819977-98-000016 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980630 FILED AS OF DATE: 19980825 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMCON CENTRAL INDEX KEY: 0000819977 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING SERVICES [8711] IRS NUMBER: 941738964 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: SEC FILE NUMBER: 000-16225 FILM NUMBER: 98697164 BUSINESS ADDRESS: STREET 1: 1433 NORTH MARKET BLVD STE 2 STREET 2: P O BOX 349014 CITY: SACRAMENTO STATE: CA ZIP: 95834 BUSINESS PHONE: 9169281090 MAIL ADDRESS: STREET 1: P O BOX 349014 STREET 2: STE 1200 CITY: SACRAMENTO STATE: CA ZIP: 95834-9014 FORMER COMPANY: FORMER CONFORMED NAME: EMCON ASSOCIATES /CA/ DATE OF NAME CHANGE: 19910611 10-Q/A 1 AMENDMENT NO. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q/A (Amendment No. 1) (Mark One) [ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 1998 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-16225 EMCON (Exact name of Registrant as specified in its charter) California 94-1738964 ---------------------------------- ---------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 400 South El Camino Real, Suite 1200 San Mateo, California 94402 - ---------------------------------------------- ------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (650) 375-1522 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 [ ] 8,723,100 shares of Common Stock Issued and Outstanding as of July 27, 1998. INFORMATION TO BE INCLUDED IN THE REPORT Amendment No. 1 The undersigned registrant hereby amends the following items of its Form 10-Q for the period ended June 30, 1998: Form 10Q filed with the Securities and Exchange Commission on August 5, 1998. The Consolidated Statements of Income on page 4 and the Earnings Per Share on page 8 for the quarter ended June 30, 1998 have been amended due to a calculation error for weighted shares outstanding for 1998. The recalculation did not affect earnings per share during the 1998 periods stated except for diluted earnings per share for the quarter ended June 30, 1998. The revised calculations changes diluted earnings per share to $0.06 from the previously reported $0.07.
EMCON CONSOLIDATED STATEMENTS OF INCOME - ------------------------------------------------------------------------------------------------------------------------- Three months ended Six months ended June 30, June 30, (Unaudited) (Unaudited) --------------------------- -------------------------- (In thousands, except per share amounts) 1998 1997 1998 1997 - ------------------------------------------------------------------------------------------------------------------------- Gross revenue $40,985 $33,114 $69,764 $64,477 Outside services at cost 4,776 8,647 7,733 12,429 ------- ------- ------- ------- Net revenue 36,209 24,467 62,031 52,048 Costs and expenses: Direct expenses 21,979 12,206 35,801 24,812 Indirect expenses 13,040 11,177 24,897 25,403 Restructuring/other charges -- -- -- (75) Loss on disposition of laboratory -- -- -- 333 Gain on sale of assets -- -- (826) ------- ------- ------- ------- -- Income from operations 1,190 1,084 1,333 2,401 Interest income (151) (125) (319) (219) Interest expense 304 317 597 648 Equity in earnings of affiliates -- (16) (15) (34) Minority interest (income) expense 2 148 183 ------- ------- ------- ------- (20) Income before provision for income taxes 1,035 760 1,090 1,823 Provision for income taxes 461 266 496 638 ------- ------- ------- ------- Net income $ 574 $ 494 $ 594 $ 1,185 ======= ======= ======= ======= Basic earnings per share $ 0.07 $ 0.06 $ 0.07 $ 0.14 ======= ======= ======= ======= Diluted earnings per share $ 0.06 $ 0.06 $ 0.07 $ 0.14 ======= ======= ======= ======= Shares used in computing basic earnings per share 8,712 8,534 8,643 8,534 ======= ======= ======= ======= Shares used in computing diluted earnings per share 8,924 8,554 8,876 8,545 ======= ======= ======= ======= See accompanying notes.
6. Earnings Per Share Three months ended Six months ended June 30 June 30 ----------------------------- ------------------------------ (In thousands, except for earnings per share) 1998 1997 1998 1997 ---------------------------------------------------------------------------------------------------------------------- Numerator: Net income $ 574 $ 494 $ 594 $1,185 ------ ------ ------ ------ Numerator for basic earnings per share - income available to common stockholders 574 494 594 1,185 Effect of dilutive securities: 8% convertible debentures N/A(1) N/A(1) N/A(1) N/A(1) ------ ------ ------ ------ Numerator for diluted earnings per share - income available to common stockholders after assumed conversions $ 574 $ 494 $ 594 $1,185 ====== ====== ====== ====== Denominator: Denominator for basic earnings per share - weighted-average shares 8,712 8,534 8,643 8,534 Effect of dilutive securities: Employee stock options 212 20 233 11 8% convertible debentures N/A(1) N/A(1) N/A(1) N/A(1) Dilutive potential common shares Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions 8,924 8,554 8,876 8,545 ====== ====== ====== ====== Basic earnings per share $ 0.07 $ 0.06 $ 0.07 $ 0.14 ====== ====== ====== ====== Diluted earnings per share $ 0.06 $ 0.06 $ 0.07 $ 0.14 ====== ====== ====== ====== ------------------------------------------------------ --------------- ---------------- -------------- --------------- (1)Excluded from the above reconciliations were approximately 269,000 shares of common stock that may be issued at $6.50 per share to convert $1,747,000 of indebtedness to certain senior management of OWT because such shares were antidilutive at June 30, 1998. Conversion of debt, if it occurs, would be within ninety days after November 30, 2001. Also excluded from the above reconciliations were approximately 123,000 shares of common stock that may be issued at $6.50 per share to convert $800,000 of indebtedness to certain senior management of NEP because such shares were antidilutive at June 30, 1998. Conversion of debt, if it occurs, would be 50% at May 1, 2000, and 50% at May 1, 2002.
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. Date: August 21, 1998 EMCON \s\ R. Michael Momboisse ------------------------------------- R. MICHAEL MOMBOISSE Chief Financial Officer, Vice President - Legal, and Secretary (Duly authorized and principal financial and accounting officer) -----END PRIVACY-ENHANCED MESSAGE-----