-----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, LOyUkIHVcsDZtHl23oaXTS6MLw+sYy83zHHpEfbFNK12DPV7JNjt0SY9IZBJWapI VKzkh8YI9yB+L+gPKRG0jQ== 0000904280-98-000322.txt : 19981118 0000904280-98-000322.hdr.sgml : 19981118 ACCESSION NUMBER: 0000904280-98-000322 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19980930 FILED AS OF DATE: 19981116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN BANC CO INC CENTRAL INDEX KEY: 0000946453 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 631146351 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 001-13964 FILM NUMBER: 98750029 BUSINESS ADDRESS: STREET 1: 221 S. 6TH STREET CITY: GADSDEN STATE: AL ZIP: 35901-4102 BUSINESS PHONE: 2055433860 MAIL ADDRESS: STREET 1: 221 S 6TH STREET CITY: GADSDEN STATE: AL ZIP: 35901-4102 10QSB 1 FORM 10-QSB SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 1998 Commission File Number: 1-13964 The Southern Banc Company, Inc. _________________________________________________________________ (Exact name of small business issuer as specified in its charter) Delaware 63-1146351 - ----------------------- ------------------- (State of incorporation) (I.R.S. Employer Identification No.) 221 S. 6th Street, Gadsden, Alabama 35901-4102 - --------------------------------------- ----------- (Address of principal executive offices) (Zip Code) Issuer's telephone number, including area code: (256) 543-3860 Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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 ninety days: Yes X No --- ---- As of September 30, 1998, there were 1,230,313 shares of the registrant's Common Stock, par value $0.01 per share, issued and outstanding. Transitional small business disclosure format (check one): Yes No X --- --- PART I. FINANCIAL INFORMATION Item 1. Financial Statements 1 THE SOUTHERN BANC COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollar Amounts in Thousands)
September 30, June 30, 1998 1998 ------------ ------------ (Unaudited) ASSETS CASH AND CASH EQUIVALENTS $ 9,469 $ 6,422 SECURITIES AVAILABLE FOR SALE 20,662 22,239 SECURITIES HELD TO MATURITY, fair values of $32,542 and $34,811, respectively 33,107 34,077 LOANS RECEIVABLE, net 41,593 41,153 PREMISES AND EQUIPMENT, net 252 251 ACCRUED INTEREST AND DIVIDENDS RECEIVABLE 638 723 PREPAID EXPENSES AND OTHER ASSETS 306 222 -------- -------- TOTAL ASSETS $106,027 $105,087 ======== ======== DEPOSITS $ 86,421 $ 85,926 OTHER LIABILITIES 763 591 -------- -------- TOTAL LIABILITIES 87,184 86,517 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Preferred stock, par value $.01 per share, 500,000 shares authorized; shares issued and outstanding -- none 0 0 Common stock, par $.01 per share, 1,454,750 shares issued and 1,230,313 shares outstanding, 3,500,000 authorized. 15 15 Treasury stock at cost, 224,437 shares (3,000) (3,000) Additional paid-in capital 13,690 13,677 Unearned compensation (1,546) (1,602) Retained earnings 9,498 9,433 Unrealized gain on securities available for sale, net 186 47 -------- -------- TOTAL STOCKHOLDERS' EQUITY $ 18,843 $ 18,570 -------- -------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $106,027 $105,087 ======== ========
The accompanying notes are an integral part of these condensed consolidated statements. 2 THE SOUTHERN BANC COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Dollar Amounts in Thousands)
Three Months Ended September 30, ------------------- 1998 1997 ------ ------ (Unaudited) (Unaudited) INTEREST INCOME Interest and fees on loans $ 793 $ 740 Interest and dividends on securities available for sale 351 292 Interest and dividends on securities held to maturity 615 769 Other interest income 83 69 ------- ------- Total interest income 1,842 1,870 INTEREST EXPENSE: Interest on deposits 1,146 1,154 ------- ------- Net interest income 696 716 Provision for loan losses 0 0 ------- ------- Net interest income after provision for loan losses 696 716 ------- ------- NON-INTEREST INCOME: Fees & other non-interest income 31 21 ------- ------- NON-INTEREST EXPENSE: Salaries and employee benefits 318 354 Office building and equipment expenses 63 66 Deposit insurance expense 13 14 Other operating expense 94 79 ------- ------- Total non-interest expense 488 513 ------- ------- Income before income taxes 239 224 PROVISION FOR INCOME TAXES 82 80 ------- ------- Net income $ 157 $ 144 ======= ======= EARNING PER SHARE - BASIC $ 0.15 $ 0.14 EARNING PER SHARE - DILUTED $ 0.14 $ 0.13 DIVIDENDS DECLARED PER SHARE $0.0875 $0.0875
The accompanying notes are an integral part of these condensed consolidated statements. 3 THE SOUTHERN BANC COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For The Three Months Ended September 30, 1998 and 1997 (Dollar Amounts in Thousands)
1998 1997 ------- ------- (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 157 $ 144 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation 9 12 Amortization (accretion), net (12) 34 Amortization of unearned compensation 85 84 Provision for loan losses 0 0 Change in assets and liabilities: (Increase) decrease in accrued interest & dividends receivable 85 (22) (Increase) decrease in other assets (84) (126) Increase (decrease) in other liabilities 96 142 ------- ------- Total adjustments 179 124 ------- ------- Net cash provided by (used in) operating activities 336 268 ------- ------- CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of securities available for sale (3,090) (3,788) Proceeds from maturities and principal payments on securities available for sale 4,878 1,746 Purchases of securities held to maturity (2,780) 0 Proceeds from maturities and principal payments on securities held to maturity 3,760 2,577 Net loan (originations) repayments (440) (1,889) Capital expenditures (10) (15) ------- ------- Net cash provided by (used in) investing activities 2,318 (1,369) ------- ------- CASH FLOWS FROM FINANCING ACTIVITIES: Increase (decrease) in deposits, net 495 343 Increase (decrease) in advance payments by borrowers for taxes and insurance 6 9 Dividends paid (92) (89) Contributions to plan trusts (16) (17) Proceeds from exercise of stock options 0 18 ------- ------- Net cash provided by financing activities 393 264 ------- ------- Net increase (decrease) in cash and cash equivalents 3,047 (837) CASH AND CASH EQUIVALENTS, beginning of period 6,422 5,807 ------- ------- CASH AND CASH EQUIVALENTS, end of period $ 9,469 $ 4,970 ======= ======= SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid during the period for: Income taxes $ 0 $ 0 ======= ======= Interest $ 1,146 $ 1,154 ======= ======= Non-cash transactions: Change in unrealized net gain on securities available for sale, net $ 139 $ 60 ======= =======
4 THE SOUTHERN BANC COMPANY, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. BASIS OF PRESENTATION The Southern Banc Company, Inc. (the "Company") was incorporated in the State of Delaware in May 1995, for the purposes of becoming a holding company to own all of the outstanding capital stock of First Federal Savings & Loan Association of Gadsden (the "Association") upon the Association's conversion from a federally chartered mutual savings association to a federally chartered stock association (the "Conversion"). The accounting for the conversion is in a manner similar to that utilized in a pooling of interest. The accompanying unaudited condensed consolidated financial statements as of September 30, 1998 and June 30, 1998, and for the three month period ended September 30, 1998 and 1997, include the accounts of the Company, the Association, and the Association's wholly owned subsidiary, First Service Corporation of Gadsden. All significant intercompany transactions and accounts have been eliminated in consolidation. The condensed consolidated financial statements were prepared by the Company without an audit, but in the opinion of management, reflect all adjustments necessary for the fair presentation of financial position and results of operations for the three months ended September 30, 1998 and 1997. Results of operations for the current interim period are not necessarily indicative of results expected for the entire fiscal year. While certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, management believes that the disclosures herein are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-KSB for the year ended June 30, 1998. The accounting policies followed by the Company are set forth in the summary of significant accounting policies in the Company's June 30, 1998 consolidated financial statements. 2. STOCK CONVERSION On October 5, 1995, the Conversion of the Association from a Federally chartered mutual institution to a Federally chartered stock savings association through amendment of its charter and issuance of common stock to the Company was completed. Related thereto, the Company sold 1,454,750 shares of common stock, par value $.01 per share, at an initial price of $10 per share in subscription and community offerings. Costs associated with the Conversion were approximately $880,000, including underwriting fees. The conversion costs were deducted from the gross proceeds of the sale of the common stock. 3. RETIREMENT AND SAVINGS PLANS Employee Stock Ownership Plan In connection with the Conversion, the Association established an employee stock ownership plan (the "ESOP") for eligible employees. The ESOP purchased 116,380 shares of the Company's common stock with the proceeds of a $1,163,800 note payable from the Association and secured by the Common Stock owned by the ESOP. Unearned compensation for the ESOP was charged to stockholders' equity and is reduced ratably in connection with principal payments under the terms of the plan. Unearned compensation is amortized into compensation expense based on employee services rendered in relation to shares which are committed to be released. 5 Management Recognition Plan During fiscal 1996, the Association established a management recognition plan (the "MRP") which purchased 58,190 shares of the Company's common stock on the open market subsequent to the Conversion. The MRP provides for awards of common stock to directors and officers of the Association. A trust was formed for the purpose of purchasing shares of stock in the open market for future awards of stock options under the MRP Plan. The aggregate fair market value of the shares purchased by the MRP is considered unearned compensation at the time of purchase and compensation is earned ratably over the stipulated vesting period. Unearned compensation related to the MRP is shown as a reduction to shareholders' equity in the accompanying consolidated statements of condition. The Plan held 43,503 issued and outstanding shares at September 30, 1998. Stock Option and Incentive Plan The Company has a stockholder approved Option and Incentive Plan (the "Option Plan"). The Option Plan provides for the grant of incentive stock options (ISO's) to employees and non-incentive stock options (non-ISO's) to non-employee directors. The exercise price is based on the market price of the common stock on the date of grant. A trust was formed for the purpose of purchasing shares of stock in the open market for issuance upon future exercises of stock options under the Option Plan. The Plan held 27,223 issued and outstanding shares at September 30, 1998. Simplified Employee Pension Plan The Company established a Simplified Employee Pension Plan ("SEP") for all employees who have completed one year of service, pursuant to Section 408(k) of the Internal Revenue Code of 1986. The Company makes a discretionary contribution to the SEP on an annual basis. 4. EARNINGS PER SHARE Basic earnings per share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the three month periods ended September 30, 1998 and 1997. Common stock outstanding consists of issued shares less treasury stock, unallocated ESOP shares, and shares owned by the MRP and Stock Option plan trusts. Diluted earnings per share for the three month periods ended September 30, 1998 and 1997, were computed by dividing net income by the weighted average number of shares of common stock and the dilutive effects of the shares awarded under the MRP and the Stock Option plans, based on the treasury stock method using an average fair market value of the stock during the respective periods. In 1997, the Company adopted SFAS No 128, "Earnings Per Share," effective December 15, 1997. As a result, the Company's reported earnings per share for 1997 were restated. The following table represents the earnings per share calculations for the three months ended September 30, 1998 and 1997, accompanied by the effect of this accounting change on previously reported earnings per share:
Earnings Income Shares Per Share ------ ------ --------- For the Three Months Ended: - -------------------------- September 30, 1998 Net income $157,000 -------- Basic earnings per share: Income available to common shareholders 157,000 1,078,596 $ 0.15 Dilutive Securities: ------- Management recognition plan shares 24,449 Stock option plan shares 23,248 -------- --------- Dilutive earnings per share: Income available to common shareholders plus assumed conversions $157,000 1,126,293 $ 0.14 -------- --------- -------
6
Earnings Income Shares Per Share ------ ------ --------- For the Three Months Ended: - -------------------------- September 30, 1997 Net income $144,000 -------- Basic earnings per share: Income available to common shareholders 144,000 1,058,067 $ 0.14 ------- Dilutive Securities: Management recognition plan shares 32,585 Stock option plan shares 30,588 -------- --------- Dilutive earnings per share: Income available to common shareholders plus assumed conversions $144,000 1,121,240 $ 0.13 -------- --------- ------- Changes in previously reported EPS: For the period ended September 30, 1997 --------------------------------------- Three Months ------------ Earnings per share, as reported $ 0.13 Earnings per share, as restated: Basic $ 0.14 Diluted $ 0.13
5. COMPREHENSIVE INCOME The Company adopted SFAS No. 130 July 1, 1998. SFAS No. 130 established standards for reporting and display of comprehensive income and its components. The Company has classified certain securities as available for sale in accordance with Financial Accounting Standards Board Statement No. 115. For the three month period ended September 30, 1998 the net unrealized gain on these securities increased by $139,000. For the three month period ended September 30, 1997 the net unrealized gain on these securities decreased by $60,000. Pursuant to Statement No. 115, any unrealized gain or loss activity of available for sale securities is to be recorded as an adjustment to a separate component of shareholders' equity, net of income tax effect. Accordingly, for the three month periods ended September 30, 1998 and 1997, the Company recognized a corresponding adjustment in the net unrealized gain component of equity. Since comprehensive income is a measure of all changes in equity of an enterprise that result from transactions and other economic events of the period, this change in unrealized gain serves to increase or decrease comprehensive income. The following table represents comprehensive income for the three month periods ended September 30, 1998 and 1997:
Three Months Ended September 30, --------------------- 1998 1997 ------- ------ Net income $ 157 $ 144 Other comprehensive income (loss), net of tax: Unrealized gain (loss) on securities 139 (60) ----- ----- Comprehensive income $ 296 $ 84 ===== =====
7 6. PENDING ACCOUNTING PRONOUNCEMENTS The AICPA has issued Statements of Position 98-1, "Accounting for the Costs of Computer Software Developed or Obtained for Internal Use". This statement requires capitalization of external direct costs of materials and services; payroll and payroll-related costs for employees directly associated; and interests cost during development of computer software for internal use (planning and preliminary costs should be expensed). Also, capitalized costs of computer software developed or obtained for internal use should be amortized on a straight-line basis unless another systematic and rational basis is more representative of the software's use. This statement is effective for financial statements for fiscal years beginning after December 15, 1998 (prospectively) and is not expected to have a material effect on the consolidated financial statements. 8 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Comparison of Financial Condition at September 30 and June 30, 1998. Total assets increased approximately $940,000 or 0.89% from $105.1 million at June 30, 1998 to $106.0 million at September 30, 1998. During the period ended September 30, 1998, net loans increased approximately $440,000 or 1.07%, securities available for sale decreased approximately $1.6 million or 7.09% and securities held to maturity decreased approximately $1.0 million or 2.85%. The decrease in total securities was primarily attributable to maturities and principal payments received during the period ended September 30, 1998. Cash and cash equivalents increased approximately $3.1 million or 47.45% from $6.4 million to $9.5 million at September 30, 1998. The increase in cash was primarily attributable to the maturities and principal payments on investment securities. Accrued interest and dividends receivable decreased approximately $85,000 or 11.76% from $723,000 at June 30, 1998 to $638,000 at September 30, 1998. Prepaid expenses and other assets increased approximately $84,000 or 37.84% from $222,000 at June 30, 1998 to $306,000 at September 30, 1998. This increase was primarily attributable to an increase in prepaid expenses. Total deposits increased approximately $495,000 or 0.58% from $85.9 million at June 30, 1998 to $86.4 million at September 30, 1998. Other liabilities during the period ended September 30, 1998 increased approximately $172,000 or 29.10% from $591,000 to $763,000. This increase was primarily attributable to an increase in accrued federal income taxes. Total equity increased approximately $273,000 or 1.47% from $18.6 million at June 30, 1998 to $18.8 million at September 30, 1998. This change was primarily attributable to an increase in retained earnings, additional paid-in capital, amortization of unearned compensation and unrealized gain on securities available for sale, offset in part by the payment of common stock dividends. Treasury stock at September 30, 1998 was $3.0 million. Comparison of Results of Operations for the Three Months Ended September 30, 1998 and 1997. The Company reported net income for the three months ended September 30, 1998 of $157,000 compared with net income of $144,000 for the three months ended September 30, 1997. This increase was primarily attributable to a decrease in non- interest expense. Net Interest Income. Net interest income for the three months ended September 30, 1998 was $696,000 as compared to $716,000 for the three months ended September 30, 1997. Total interest income decreased approximately $28,000 or 1.50% for the three months ended September 30, 1998. This decrease was primarily attributable to the maturity of securities during the three month period. Total interest expense decreased approximately $8,000 or 0.69% for the three months ended September 30, 1998 compared with the three months ended September 30, 1997. Provision for Loan Losses. No provision for loan losses was deemed necessary in either of the three month periods ended September 30, 1998 or 1997. The allowance for loan losses is based on management's evaluation of possible loan losses inherent in the Association's loan portfolio. Management considers, among other factors, past loss experience, current economic conditions, volume, growth and composition of the loan portfolio, and other relevant factors. Non-interest Income. Non-interest income increased approximately $10,000 or 47.62% from $21,000 to $31,000 for the three month period ended September 30, 1998 compared to the three month period ended September 30, 1997. This increase is primarily attributable to an increase in mortgage loan origination fees and prepayment penalties. 9 Non-interest Expense. Non-interest expense decreased approximately $25,000 or 4.87% for the three month period ended September 30, 1998 from $513,000 at September 30, 1997 to $488,000 at September 30, 1998. This decrease was primarily attributable to a reduction salaries and employee benefits expense. Other operating expenses increased approximately $15,000 or 18.99% for the three month periods ended September 30, 1998 as compared to the three month period ended September 30, 1997. This increase was primarily attributable to operating expenses relating to the operation of the holding company and professional fees associated with back-office operational improvements. Provision for Income Taxes. For the three month period ended September 30, 1998, provision for income tax expense increased $2,000 or 2.50% as compared to the three month period ended September 30, 1997. Liquidity and Capital Resources. As a holding company, the Company conducts its business through its subsidiary, the Association. The Association is required to maintain minimum levels of liquid assets as defined by regulations of the Office of Thrift Supervision. This requirement, which varies from time to time depending upon economic conditions and deposit flows, is based upon a percentage of deposits and short-term borrowings. The required ratio currently is 4.0%. The Association's average liquidity ratio well exceeded the required maximums at and during the three month period ended September 30, 1998. The Association adjusts its liquidity levels in order to meet funding needs of deposit outflows, repayment of borrowings and loan commitments. The Association also adjusts liquidity as appropriate to meet its asset and liability management objectives. The Association's primary sources of funds are deposits, payment of loans and mortgage-backed securities, maturities of investment securities and other investments. While scheduled principal repayments on loans and mortgage-backed securities are a relatively predictable source of funds, deposit flows and loan prepayments are greatly influenced by general interest rates, economic conditions, and competition. The Association invests in short-term interest-earning assets which provide liquidity to meet lending requirements. The Association is required to maintain certain levels of regulatory capital. At September 30, 1998, the Association exceeded all minimum regulatory capital requirements. Possible Year 2000 Computer Program Problems A great deal of information has been disseminated about the global computer crash that may occur in the year 2000. Many computer programs that can only distinguish the final two digits of the year entered (a common programming practice in earlier years) are expected to read entries for the year 2000 as the year 1900. All of the significant data processing of the Association that could be affected by this problem is provided by a third party service bureau. The service bureau of the Association has advised the Association that it expects to resolve this potential problem before the year 2000. However, if the service bureau is unable to resolve this potential problem in time, the Association would likely experience significant data processing delays, mistakes or failures. These delays, mistakes or failures could have a material adverse impact on the financial condition and results of operation of the Association. Risks to the Company if its computer systems are not year 2000 compliant include the inability to process customer deposits or checks drawn on the Association, inaccurate interest accruals and maturity dates of loans and time deposits, and the inability to update accounts for daily transactions. Other risks to the Company exist if certain of its vendors', suppliers' and customers' computer systems are not Year 2000 compliant. These risks include the inability of the Association to communicate with its third party service bureau if phone systems are not working, the interruption of business in the event of power outages, the inability of loan customers to comply with repayment terms if their businesses are interrupted, the inability to make payment for checks drawn on the Association, receive payment for checks deposited by the Association's customers, or invest excess funds if the Federal Home Loan Bank or correspondent banks are not Year 2000 compliant. The Company's most important mission critical system is the software and hardware responsible for maintaining and processing general ledger, deposits, and loan accounts. The Company's Year 2000 Compliance and Contingency Plans are structured in accordance with the OTS and the FFIEC guidelines. Remediation and testing efforts relating to the Year 2000 are on schedule and are expected to be completed by December 1998. The Company is in the process of contacting its key vendors, suppliers and customers to determine their Year 2000 compliance. The Company estimates that the cost of testing and updating its systems for Year 2000 compliance will not be material. 10 PART II. OTHER INFORMATION Item 1. Legal Proceedings From time to time, the Company and any subsidiaries may be a party to various legal proceedings incident to its or their business. At September 30, 1998, there were no legal proceedings to which the Company or any subsidiary was a party, or to which any of their property was subject, which were expected by management to result in a material loss. Item 2. Changes in Securities None Item 3. Defaults Upon Senior Securities None Item 4. Submission of Matters to a Vote of Security Holders None Item 5. Other Information On October 15, 1998, The Southern Banc Company, Inc. announced a dividend in the amount of $.0875 per share on or about December 14, 1998 to stockholders of record at the close of business on November 20, 1998. Item 6. Exhibits and Reports on Form 8-K (a) Exhibits Exhibit 27.1 - Financial Data Schedule Exhibit 27.2 - Restated Financial Data Schedule (b) Reports on Form 8-K None 11 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 SOUTHERN BANC COMPANY Date: November 6, 1998 By: /s/ James B. Little, Jr. ---------------------------- James B. Little, Jr. (Principal Executive and Financial Officer) EX-27.1 2 - ARTICLE 9 FIN. DATA SCHEDULE FOR 1ST QTR 10-Q
9 1,000 3-MOS JUN-30-1999 SEP-30-1998 245 9,224 0 0 20,662 33,107 32,542 41,669 76 106,027 86,421 0 763 0 15 0 0 18,828 106,027 793 966 83 1,842 1,146 0 696 0 0 488 239 239 0 0 157 0.15 0.14 2.68 0 0 0 0 76 0 0 76 0 0 76
EX-27.2 3 - RESTATED ARTICLE 9 FIN. DATA SCHEDULE FOR FISCAL 1998 1ST QTR 10-Q
9 1,000 3-MOS JUN-30-1998 SEP-30-1997 234 4,736 0 0 19,725 41,580 42,275 38,146 76 106,164 87,102 0 930 0 15 0 0 18,117 106,164 740 1,061 69 1,870 1,154 0 716 0 0 513 224 224 0 0 144 0.14 0.13 7.53 0 0 0 0 76 0 0 76 0 0 76
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