-----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, EyMtbeHpo4XOv/PA0uYTczvQ9eooiY0XNOfc6yYap38M95oWYzrBBn68d2POh11Z y4ms+vJ821nD7c9V/yT9Gg== 0000910647-97-000179.txt : 19970813 0000910647-97-000179.hdr.sgml : 19970813 ACCESSION NUMBER: 0000910647-97-000179 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970630 FILED AS OF DATE: 19970812 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARMATRON INTERNATIONAL INC CENTRAL INDEX KEY: 0000008699 STANDARD INDUSTRIAL CLASSIFICATION: LAWN & GARDEN TRACTORS & HOME LAWN & GARDEN EQUIPMENT [3524] IRS NUMBER: 041052250 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-04433 FILM NUMBER: 97657053 BUSINESS ADDRESS: STREET 1: 2 MAIN ST CITY: MELROSE STATE: MA ZIP: 02176 BUSINESS PHONE: 6173212300 MAIL ADDRESS: STREET 1: 2 MAIN ST CITY: MELROSE STATE: MA ZIP: 02176 FORMER COMPANY: FORMER CONFORMED NAME: AUTOMATIC RADIO MANUFACTURING CO INC/ DATE OF NAME CHANGE: 19600201 10-Q 1 BODY OF 10-Q FOR 3RD QUARTER UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 1997. 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 1-4433. ARMATRON INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Massachusetts 04-1052250 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Two Main Street Melrose, Massachusetts 02176 (Address of principal executive offices) (Zip Code) (617) 321-2300 (Registrant's telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report.) 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 [ ] APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ] APPLICABLE ONLY TO CORPORATE ISSUERS: The number of shares of Common Stock (par value $1) outstanding at July 31, 1997 is 2,459,749 shares. ARMATRON INTERNATIONAL, INC. File No. 1-4433 ------------------- PAGE(S) ------- PART I - FINANCIAL INFORMATION Item 1 - Financial Statements Consolidated Condensed Balance Sheets - June 30, 1997 and 1996, and September 30, 1996 3 - 4 Consolidated Condensed Statements of Operations for the three and nine months ended June 30, 1997 and 1996 5 Consolidated Condensed Statements of Cash Flows for the nine months ended June 30, 1997 and 1996 6 Notes to Consolidated Condensed Financial Statements 7 - 11 Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations 12 - 15 PART II - OTHER INFORMATION Item 6(b) Reports on Form 8-K 16 SIGNATURE 17 2 ARMATRON INTERNATIONAL, INC. Consolidated Condensed Balance Sheets June 30, 1997 and 1996, and September 30, 1996 (Dollars in Thousands)
(Unaudited) (Audited) June 30, September 30, 1997 1996 1996 ------- ------- ------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 679 $ 230 $ 1,849 Trade accounts receivable,net 3,530 4,618 2,121 Inventories 3,282 2,196 2,349 Deferred taxes 130 165 130 Prepaids & other current assets 235 203 187 -------------------------------- Total Current Assets 7,856 7,412 6,636 PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET 592 711 637 OTHER ASSETS 107 108 202 -------------------------------- Total Assets $ 8,555 $ 8,231 $ 7,475 ================================
The accompanying notes are an integral part of the consolidated condensed financial statements. 3 ARMATRON INTERNATIONAL, INC. Consolidated Condensed Balance Sheets June 30, 1997 and 1996, and September 30, 1996 (Dollars in Thousands)
(Unaudited) (Audited) June 30, September 30, 1997 1996 1996 ------- ------- ------------- LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 1,977 $ 1,811 $ 1,171 Accrued liabilities 1,757 1,335 1,285 Current portion under capital lease obligation 17 - - -------------------------------- Total Current Liabilities 3,751 3,146 2,456 LONG-TERM DEBT 4,715 4,715 4,715 LONG-TERM CAPITAL LEASE OBLIGATIONS, NET OF CURRENT PORTION 35 - - DEFERRED RENT 42 - 75 STOCKHOLDERS' EQUITY: Common stock, par value $1 per share, 6,000,000 shares authorized; shares issued at June 30, 1997 and 1996, and September 30, 1996, 2,606,481 shares 2,606 2,606 2,606 Paid-in capital 6,770 6,770 6,770 Accumulated deficit (8,978) (8,620) (8,761) -------------------------------- 398 756 615 Less: Treasury stock at cost - 146,732 at June 30, 1997 and 1996, and September 30, 1996 386 386 386 -------------------------------- Total Stockholders' Equity 12 370 229 -------------------------------- Total Liabilities & Stockholders' Equity $ 8,555 $ 8,231 $ 7,475 ================================
The accompanying notes are an integral part of the consolidated condensed financial statements. 4 ARMATRON INTERNATIONAL, INC. Consolidated Condensed Statements of Operations for the Three and Nine Month Periods Ended June 30, 1997 and 1996 (Dollars in Thousands Except Per Share Data)
(Unaudited) Three Months Nine Months Ended June 30, Ended June 30, 1997 1996 1997 1996 --------- --------- --------- --------- Net sales $ 5,267 $ 6,717 $ 10,350 $ 10,909 Cost of products sold 3,792 4,785 8,251 8,563 Selling, general and administrative expenses 760 1,055 1,937 2,339 Interest expense-related parties 121 119 359 359 Interest expense-third parties 38 28 57 37 Other (income) expense - net (2) (4) (37) (37) ------------------------------------------------ Net income (loss) $ 558 $ 734 $ (217) $ (352) ================================================ Per share: Net income (loss) $ .23 $ .30 $ (.09) $ (.14) ================================================ Weighted average number of common shares outstanding 2,459,749 2,459,749 2,459,749 2,459,749 ================================================
The accompanying notes are an integral part of the consolidated condensed financial statements. 5 ARMATRON INTERNATIONAL, INC. Consolidated Condensed Statements of Cash Flows for the Nine Months Ended June 30, 1997 and 1996 (Dollars in Thousands)
(Unaudited) Nine Months Ended June 30, 1997 1996 -------- -------- OPERATING ACTIVITIES Net loss $ (217) $ (352) Adjustments to reconcile net loss to net cash flows from operating activities: Depreciation and amortization 241 286 Loss (gain) on sale or disposal of equipment - (1) Change in operating assets and liabilities (995) (980) ------------------- Net cash flow used for operating activities (971) (1,047) ------------------- INVESTING ACTIVITIES Proceeds from sales of equipment 2 - Payments for machinery and equipment (196) (45) ------------------- Net cash flow used for investing activities (194) (45) ------------------- FINANCING ACTIVITIES Payments on capital lease obligations (5) - ------------------- Net cash flow used for financing activities (5) - ------------------- NET DECREASE IN CASH AND CASH EQUIVALENTS (1,170) (1,092) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 1,849 1,322 ------------------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 679 $ 230 ===================
The accompanying notes are an integral part of the consolidated condensed financial statements. 6 ARMATRON INTERNATIONAL, INC. Notes to Consolidated Condensed Financial Statements 1. NATURE OF BUSINESS The Company operates principally in two segments, the Consumer Products segment and the Industrial Products segment. Operations in the Consumer Products segment involve the manufacture and distribution of Flowtron leaf-eaters, bugkillers, yard carts and storage sheds which comprised 99% and 94% of the Company's sales during the nine months ended June 30, 1997 and the year ended September 30, 1996, respectively. The Company distributes its consumer products primarily to major retailers throughout the United States, with some products distributed under customer labels. Substantially all of this segment's sales and accounts receivable related to business activities with such retailers. The Industrial Products segment markets electronic obstacle avoidance systems for transportation and automotive applications. Production of these systems began in fiscal 1996. There are no intercompany sales between segments. 2. OPINION OF MANAGEMENT In the opinion of management, the accompanying unaudited consolidated condensed financial statements contain all adjustments (including normal recurring adjustments) necessary to present fairly the consolidated financial position as of June 30, 1997 and 1996, and September 30, 1996, and the consolidated statements of operations for the three and nine months ended June 30, 1997 and 1996 and the consolidated statements of cash flows for the nine months ended June 30, 1997. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended September 30, 1996. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The year end balance sheet data was derived from audited financial statements, but does not include disclosures required by generally accepted accounting principles. The accompanying unaudited, consolidated condensed financial statements are not necessarily indicative of future trends or the Company's operations for the entire year. 3. USE OF ESTIMATES The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 7 ARMATRON INTERNATIONAL, INC. Notes to Consolidated Condensed Financial Statements 4. CONCENTRATION OF CREDIT RISK Financial instruments, which potentially subject the Company to concentration of credit risk, consist principally of trade account receivables. If any of the Company's major customers fail to pay the Company on a timely basis, it could have a material adverse effect on the Company's business, financial condition and results of operations. For the nine months ended June 30, 1997, two customers accounted for approximately 43% of the Company's sales. At June 30, 1997, these customers accounted for approximately 57% of the Company's trade accounts receivable balance. For the year ended September 30, 1996, a single customer accounted for approximately 18% of the Company's sales. At September 30, 1996, this customer accounted for approximately 33% of the Company's trade accounts receivable balance. For the nine months ended June 30, 1996, one customer accounted for approximately 18% of the Company's sales. At June 30, 1996, this customer accounted for approximately 43% of the Company's trade accounts receivable balance. The Company's export sales are not significant. 5. SUPPLEMENTAL CASH FLOW INFORMATION The Company's cash payments for interest and income taxes and the Company's non-cash investing and financing activities were as follows:
(In Thousands) Nine Months Ended June 30, 1997 1996 ----- ----- Operating Activities: Interest paid - related parties $ - $ 41 Interest paid - third parties $ 58 $ 37 Income taxes paid $ - $ - Non-cash Investing and Financing Activities: Capital expenditures financed by capital lease $ 57 $ -
8 ARMATRON INTERNATIONAL, INC. Notes to Consolidated Condensed Financial Statements 6. MAJOR SUPPLIERS The Company currently purchases its plastic storage sheds and yard carts from two suppliers. These suppliers manufacture the storage sheds and yard carts in accordance with the Company's designs and specifications. The Company believes that other suppliers could provide the required storage sheds and yard carts although comparable terms may not be realized. A change in suppliers could cause a delay in scheduled deliveries of the storage sheds and yard carts to the Company's customers and a possible loss of revenue, which would adversely affect the Company's results of operations. 7. CASH The Company maintains its cash in bank deposit accounts which, at times, may exceed Federally insured limits and in deposit accounts at its commercial finance company. The Company has not experienced any losses in such accounts. 8. INVENTORIES Inventories are stated on a first-in, first-out (FIFO) method at the lower of cost or market. Inventories consisted of the following:
(In Thousands) (Unaudited) (Audited) June 30, September 30, 1997 1996 1996 ------- ------- ------------ Raw material, primarily purchased components $ 2,032 $ 1,796 $ 1,632 Work in process 29 80 65 Finished goods 1,221 320 652 -------------------------------- $ 3,282 $ 2,196 $ 2,349 ================================
9 ARMATRON INTERNATIONAL, INC. Notes to Consolidated Condensed Financial Statements 9. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS Property and equipment are stated at cost. Depreciation is computed based upon the estimated useful lives of the various assets using the straight-line method with annual rates of depreciation of 10 to 33-1/3%. Capitalized tooling costs are amortized over three years. Leasehold improvements are amortized over the lesser of the term of the lease or the estimated useful life of the related assets. Tooling and molding costs are charged to a deferred cost account as incurred, prepaid tooling, until the tool or mold is completed. Upon completion the costs are transferred to a property/equipment account. Maintenance and repairs are charged to operations as incurred. Renewals and betterments which materially extend the life of assets are capitalized and depreciated. Upon disposal, the asset cost and related accumulated depreciation are removed from their respective accounts. Any resulting gain or loss is reflected in earnings. 10. ACCRUED LIABILITIES Accrued liabilities consist of the following as of:
(In thousands) (Unaudited) (Audited) June 30, September 30, 1997 1996 1996 ------ ------ ------------- Salaries, commissions and benefits . . . . . $ 390 $ 434 $ 365 Professional fees . . . . . . . . . . . . . . 92 68 79 Warranty costs . . . . . . . . . . . . . . . 62 40 40 Advertising costs . . . . . . . . . . . . . . 152 233 145 Interest . . . . . . . . . . . . . . . . . . 796 318 439 Other . . . . . . . . . . . . . . . . . . . . 265 242 217 ----------------------------- $1,757 $1,335 $1,285 =============================
11. LONG-TERM DEBT The Company has a $7,000,000 line of credit from a realty trust operated for the benefit of the Company's principal shareholders. This line of credit, with interest at 10%, requires monthly payments of interest only, and is collateralized by all assets of the Company. In August 1997, the Company renewed this line of credit with the realty trust under the same terms and conditions and extended the maturity date to October 1, 1998 therefore this line of credit has been classified as long term on the accompanying balance sheet. The Company had $4,715,000 outstanding under this line of credit at June 30, 1997. Repayment of this line of credit is subordinate 10 ARMATRON INTERNATIONAL, INC. Notes to Consolidated Condensed Financial Statements to the repayment of any and all balances outstanding on the revolving line of credit from a commercial finance company which is further described below. At June 30, 1997, interest payments of $796,000 associated with this line were in arrears for the period November 1, 1995 to June 30, 1997. 12. NOTE PAYABLE The Company has a $3,500,000 revolving line of credit agreement with a commercial finance company. This credit agreement is collateralized by all assets of the Company and expires in December 1999. The terms of this agreement include a borrowing limit which fluctuates depending on the levels of accounts receivable and inventory which collateralize the borrowings. The agreement contains various convenants pertaining to maintenance of working capital, net worth and other conditions. Interest on amounts outstanding is payable at 1 3/4% over the commercial base rate. The commercial base rate was 8.5% at June 30, 1997. At June 30, 1997, the Company had outstanding letters of credit amounting to $588,000 and approximately $2,307,000 was available, pursuant to the borrowing formula, under this credit agreement. 13. CAPITAL LEASE In February 1997, the Company financed approximately $57,000 of leasehold improvements under a 3 year lease financing agreement with a finance company. This lease arrangement has been accounted for as a financing transaction. The subject leasehold improvements are recorded as an asset for financial statement purposes and are being depreciated accordingly. 11 ARMATRON INTERNATIONAL, INC. Management's Discussion and Analysis of Financial Conditions and Results of Operations OVERVIEW The Company operates principally in two segments, the Consumer Products segment and the Industrial Products segment. Operations in the Consumer Products segment involve the manufacture and distribution of Flowtron leaf- eaters, bugkillers, yard carts and storage sheds which comprised 99% and 94% of the Company's sales during the nine months ended June 30, 1997 and the year ended September 30, 1996, respectively. The Company distributes its consumer products primarily to major retailers throughout the United States, with some products distributed under customer labels. Substantially all of this segment's sales and accounts receivable related to business activities with such retailers. The Industrial Products segment markets electronic obstacle avoidance systems for transportation and automotive applications. Production of these systems began in fiscal 1996. There are no intercompany sales between segments. For the nine months ended June 30, 1997, two customers accounted for approximately 43% of the Company's sales. At June 30, 1997, these customers accounted for approximately 57% of the Company's trade accounts receivable balance. If any of the Company's major customers fail to pay the Company on a timely basis, it could have a material adverse effect on the Company's business, financial condition and results of operations. The Company currently purchases its plastic storage sheds and yard carts from two suppliers. These suppliers manufacture the storage sheds and yard carts in accordance with the Company's designs and specifications. The Company believes that other suppliers could provide the required storage sheds and yard carts although comparable terms may not be realized. A change in suppliers could cause a delay in scheduled deliveries of the storage sheds and yard carts to the Company's customers and a possible loss of revenue, which would adversely affect the Company's results of operations. LIQUIDITY AND CAPITAL RESOURCES The Company's primary cash requirements are for operating expenses, including labor costs, raw material purchases and funding of accounts receivable. Historically, the Company's sources of cash have been borrowings from banks and finance companies and notes from related parties. During the nine months ended June 30, 1997, operating activities used $971,000 in cash primarily due to an increase in trade accounts receivable of $1,409,000 and an increase in inventories of $933,000 offset by increases in accounts payable and accrued liabilities of $806,000 and $472,000, respectively. The Company has a $3,500,000 revolving line of credit agreement with commercial finance company. This credit agreement is collateralized by all all assets of the Company and expires in December 1999. The terms of this agreement include a borrowing limit which fluctuates depending on the levels 12 of accounts receivable and inventory which collateralize the borrowings. The agreement contains various convenants pertaining to maintenance of working capital, net worth and other conditions. Interest on amounts outstanding is payable at 1 3/4% over the commercial base rate. The commercial base rate was 8.5% at June 30, 1997. At June 30, 1997, the Company had outstanding letters of credit amounting to $588,000 and approximately $2,307,000 was available, pursuant to the borrowing formula, under this credit agreement. The Company has a $7,000,000 line of credit from a realty trust operated for the benefit of the Company's principal shareholders. This line of credit, with interest at 10%, requires monthly payments of interest only, is payable in full in October 1997, and is collateralized by all assets of the Company. The Company had $4,715,000 outstanding under this line of credit at June 30, 1997. Repayment of this line of credit is subordinate to the repayment of any and all balances outstanding on the revolving line of credit from a commercial finance company. At June 30, 1997, interest payments of $796,000 associated with this line were in arrears for the period November 1, 1995 to June 30, 1997. In August 1997, the Company renewed its line of credit with the Realty Trust under terms and conditions similar to the existing terms and conditions and extended the maturity date to October 1, 1998. Sales terms for the Industrial Products segment are 30 days net. Following industry trade practice, the Consumer Products segment offers extended payment terms for delivery of seasonal product items such as the bugkillers, electric leaf-eater, biomister, compost bin and yard carts and storage sheds, resulting in fluctuating requirements for working capital. During the nine months June 30, 1997, the Company made cash investments of $196,000 in capital expenditures primarily for tooling and dies used in production and financed approximately $57,000 of leasehold improvements. As of July 31, 1997, the Company has commitments of approximately $20,000 for future capital expenditures. The Company believes that its present working capital, credit arrangements with a commercial finance company and related party, and other sources of financing will be sufficient to finance its seasonal borrowing needs, operations and investment in capital expenditures in fiscal 1997. RESULTS OF OPERATIONS Three months ended June 30, 1997 - -------------------------------- The results of consolidated operations for the three months ended June 30, 1997 resulted in net income of $558,000, or $.23 per share, as compared with net income of $734,000, or $.30 per share in the same period of the previous year. Sales decreased $1,450,000, or 21.6%, to $5,267,000 for the three months ended June 30, 1997, as compared to $6,717,000 for the corresponding period in the previous year. The decrease in sales was primarily attributable to a 13 decrease in sales of bugkillers in three months ended June 30, 1997 as compared to the same period of the previous year due to unseasonable weather conditions. Operating profit is the result of deducting operating expenses excluding interest expense, general corporate expenses, and income taxes from total revenue. Sales and operating profit for the Consumer Products segment in the three months end June 30, 1997 were approximately $5,184,000 and $905,000, respectively, as compared to $6,344,000 and $996,000, respectively, in the previous year. Sales decreased $1,160,000 primarily due to a decrease in sales of bugkillers. Product lines within the Consumer Products segment are subject to seasonal fluctuations, with most shipments occurring in the spring and summer seasons. Sales and operating loss for the Industrial Products segment for the three months ended June 30, 1997 were $83,000 and $50,000 respectively, as compare to sales of $373,000 and operating income of $83,000, in the previous year. The decrease in sales was due to a customer rescheduling and delaying of shipments of the Company's systems. The operating loss was due to the underutilization of this segment's facilities. Selling, general and administrative expenses decreased $295,000, or 28.0%, to $760,000 for the three months ended June 30, 1997, as compared to the same period of the previous year due to lower sales and the Company's cost containment efforts. Taxes for the three months ended June 30, 1997 were not provided in the consolidated condensed statement of operations because the Company has net operating losses carry forwards available to offset such provision. Nine months ended June 30, 1997 - ------------------------------- The results of consolidated operations for the nine months ended June 30, 1997 resulted in a net loss of $217,000 or $.09 per share, as compared with a net loss of $352,000, or $.14 per share in the same period of the previous year. Sales decreased $559,000, or 5.2%, to $10,350,000 for the nine months ended June 30, 1997, as compared to $10,909,000 for the corresponding period in the previous year. The decrease in sales was primarily attributable to a decrease in sales of industrial products in nine months ended June 30, 1997 as compared to the same period of the previous year. Sales and operating profits for the Consumer Products segment for the nine months ended June 30, 1997 were approximately $10,218,000, and $874,000, respectively, as compared to $10,319,000 and $644,000, respectively, in the previous year. The increase in operating profit was attributable to the lower operating expenses due to the Company's lower sales and cost containment efforts. Sales and operating loss for the Industrial Products segment during the nine months ended June 30, 1997 were approximately $132,000 and $229,000, 14 respectively, as compared to sales of $590,000 and operating profit of $9,000, in the previous year. The decrease in sales was due to a customer rescheduling and delaying of shipments of the Company's systems. The operating loss was due to the underutilization of this segment's facilities. Selling, general and administrative expenses decreased $402,000, or 17.2%, to $1,937,000 for the nine months ended June 30, 1997 as compared to $2,339,000 for the same period of the previous year. The decrease was due to the Company's cost containment efforts. A tax benefit from the losses on operations for the nine months ended June 30, 1997 was not reflected in the consolidated condensed statement of operations because the net operating losses could neither be carried back to previous years and future recognition was not certain. 15 ARMATRON INTERNATIONAL, INC. PART II Item 6b. Reports on Form 8-K The Company did not file any reports on Form 8-K for the quarter ended June 30, 1997. 16 ARMATRON INTERNATIONAL, INC. File No. 1-4433 ------------------- 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 thereto duly authorized. ARMATRON INTERNATIONAL, INC. (Registrant) Date: August 7, 1997 /s/ Charles J. Housman Charles J. Housman, President and Treasurer Date: August 7, 1997 /s/ James Murphy James Murphy Controller 17 EX-27 2 ARTICLE 5 FDS FOR 3RD QUARTER 10-Q
5 1,000 9-MOS SEP-30-1997 JUN-30-1997 679 0 3,749 219 3,282 365 6,270 5,678 8,555 3,751 4,715 0 0 2,606 (2,594) 8,555 10,350 10,350 8,251 8,251 1,900 0 416 (217) 0 (217) 0 0 0 (217) (.09) (.09)
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