-----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, GtXlS6cNz02faTZ32vloQxjWLdl1f9gOT11+2wyDxtf0gPtDzGmdlM2TABBtKZRZ 0402anvBDxjc6nZRdOr9Dw== 0000950116-96-000170.txt : 19960329 0000950116-96-000170.hdr.sgml : 19960329 ACCESSION NUMBER: 0000950116-96-000170 CONFORMED SUBMISSION TYPE: 10QSB CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950630 FILED AS OF DATE: 19960328 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARLTON TECHNOLOGIES INC CENTRAL INDEX KEY: 0000096988 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 221825970 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 001-07708 FILM NUMBER: 00000000 BUSINESS ADDRESS: STREET 1: 2828 CHARTER ROAD STE 101 CITY: PHILADELPHIA STATE: PA ZIP: 19154 BUSINESS PHONE: 2156766900 MAIL ADDRESS: STREET 1: 2828 CHARTER RD CITY: PHILADELPHIA STATE: PA ZIP: 19154 FORMER COMPANY: FORMER CONFORMED NAME: TELESCIENCES INC DATE OF NAME CHANGE: 19880201 10QSB 1 FORM 10-QSB "CONFIRMING ELECTRONIC COPY OF PAPER FILING" -------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 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 1-7708 -------- MARLTON TECHNOLOGIES, INC. ---------------------------------------------------------------- (Exact name of small business issuer as specified in its charter) New Jersey 22-1825970 - ------------------------------- ------------------ (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 2828 Charter Road, Suite 101. Philadelphia, PA 19154 ------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Issuer's telephone number (215) 676-6900 -------------- Former name, former address and former fiscal year, if changed since last report. Check whether the issuer (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: Check whether the issuer has filed all documents and reports required to be filed by Section 12, 13 or 15 (d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by court. Yes No -------- -------- APPLICABLE ONLY TO CORPORATE ISSUERS: State the number of shares outstanding of each of the issuer's classes of common equity as of the last practicable date: 3,905,499 ------------ Transitional Small Business Disclosure Form (check one): Yes No X -------- ------- MARLTON TECHNOLOGIES, INC. and SUBSIDIARIES CONSOLIDATED BALANCE SHEETS June 30, 1995 and December 31, 1994 (Unaudited)
June 30, December 31, 1995 1994 -------- ------------- ASSETS Current: Cash and cash equivalents $ 947,222 $ 1,469,175 Accounts receivable, net of allowance of $135,859 and $85,579, respectively 4,261,960 4,185,935 Inventory (Note 2) 1,844,888 2,275,266 Prepaids and other current assets 406,081 212,285 Deposits and advances 204,431 669,889 Deferred income taxes (Note 4) 191,000 191,000 ------------ ------------ Total current assets 7,855,582 9,003,550 Property and equipment, net of accumulated depreciation and amortization 2,396,166 2,346,306 Goodwill, net of accumulated amortization of $527,104 and $464,358, respectively 2,836,018 2,898,764 Deferred income taxes, net of current portion 1,259,000 1,354,000 Other assets, net of accumulated amortization of $553,596 and $463,451, respectively 460,387 542,091 ------------ ------------ Total assets $ 14,807,153 $ 16,144,711 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 958,940 $ 796,515 Accounts payable 919,915 1,700,404 Accrued expenses and other 3,041,408 3,929,753 ------------ ------------ Total current liabilities 4,920,263 6,426,672 Long-term debt, net of current portion 484,469 691,676 ------------ ------------ Total liabilities 5,404,732 7,118,348 ------------ ------------ Stockholders' equity: Common stock, $.10 par - shares authorized 10,000,000; 3,905,499 issued and outstanding 390,550 390,023 Additional paid-in capital 20,145,946 20,137,473 Accumulated deficit (11,022,399) (11,389,456) ------------ ------------ 9,514,097 9,138,040 Less cost of 5,000 treasury shares 111,677 111,677 ------------ ------------ Total stockholders' equity 9,402,421 9,026,363 ------------ ------------ Total liabilities and stockholders' equity $ 14,807,153 $ 16,144,711 ============ ============
See notes to consolidated financial statements. -2- MARLTON TECHNOLOGIES, INC. and SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (UNAUDITED)
Common Stock Additional Shares Issued Treasury Paid-in Accumulated Issued Amount Amount Capital Deficit --------- ------------ ------------- ------------ ------------- Balance, January 1, 1995 3,900,225 $ 390,023 $ (111,677) $ 20,137,473 $(11,389,456) Additional shares issued 5,274 527 -- 8,473 -- Net income for the six month period -- -- -- -- 367,057 --------- ------------ ------------ ------------ ------------ Balance, June 30, 1995 3,905,499 $ 390,550 $ (111,677) $20,145,946 $(11,022,399) ========= ============ ============ ============ =============
See notes to consolidated financial statements. -3- MARLTON TECHNOLOGIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
For the six months ended For the three months ended June 30, June 30, 1995 1994 1995 1994 ------------ ------------ ------------ ------------ Net sales $ 15,094,043 $ 13,061,938 $ 7,712,415 $ 6,015,635 Cost of sales 10,688,054 9,220,772 5,584,431 4,271,174 ------------ ------------ ------------ ------------ Gross profit 4,405,989 3,841,166 2,127,984 1,744,461 ------------ ------------ ------------ ------------ Expenses: Selling 2,480,443 2,045,723 1,224,136 993,757 Administrative and general 1,373,118 1,338,264 695,123 620,701 ------------ ------------ ------------ ------------ 3,853,561 3,383,987 1,919,259 1,614,458 ------------ ------------ ------------ ------------ Operating profit 552,428 457,179 208,725 130,003 ------------ ------------ ------------ ------------ Other income (expense): Interest income 27,990 5,048 10,343 2,881 Interest (expense) (68,066) (75,299) (33,940) (42,298) Other 9,705 7,589 16,091 11,340 Gain from insurance settlement (Note 3) -- 250,000 -- -- ------------ ------------ ------------ ------------ (30,371) 187,338 (7,506) (28,077) ------------ ------------ ------------ ------------ Income before provision for income taxes 522,057 644,517 201,219 101,926 Provision for income taxes (Note 4) 155,000 260,000 65,000 40,000 ------------ ------------ ------------ ------------ Net income $ 367,057 $ 384,517 $ 136,219 $ 61,926 ============ ============ ============ ============ Number of common shares, weighted average 3,936,901 3,873,210 3,936,989 3,895,225 ------------ ------------ ------------ ------------ Income per common share (Note 5): $ .093 $ .098 $ .035 $ .015 ============ ============ ============ ============
See notes to consolidated financial statements. -4- MARLTON TECHNOLOGIES, INC. and SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Six Months Ended June 30, 1995 1994 ----------- ----------- Cash flows provided (expended) through operating activities: Net income $ 367,057 $ 384,517 Adjustments to reconcile net income to cash provided through operating activities: Depreciation and amortization 604,208 439,788 Change in assets and liabilities: (Increase) in accounts receivable, net (76,025) (997,431) (Increase) decrease in inventory 430,378 (246,299) Decrease in prepaids and other assets 271,662 30,412 Decrease in deferred income taxes 95,000 225,000 Increase (decrease) in accounts payable and other accrued expenses (1,659,833) 1,137,199 ----------- ----------- Net cash provided through operating activities 32,447 973,186 ----------- ----------- Cash flows from investing activities: Capital expenditures (509,618) (273,890) ----------- ----------- Net cash (expended) through investing activities (509,618) (273,890) ----------- ----------- Cash flows provided (expended) through financing activities: Principal payments on long-term debt (44,782) (140,564) Principal payments on revolving credit line (601,000) (3,094,000) Proceeds from revolving credit line 601,000 2,599,000 Proceeds from long-term debt -- 500,000 Proceeds from stock issuance -- 34,500 ----------- ----------- Net cash (expended) through financing activities (44,782) (101,064) ----------- ----------- Increase (decrease) in cash and cash equivalents (521,953) 598,232 Cash and cash equivalents - beginning of period 1,469,175 823,159 ----------- ----------- Cash and cash equivalents - end of period $ 947,222 $ 1,421,391 =========== =========== Supplemental cash flow information: Cash paid for interest $ 60,672 $ 70,299 =========== ===========
See notes to consolidated financial statements. -5- MARLTON TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Summary of Accounting Policies: 1. Basis of Presentation: The consolidated financial statements include the accounts of Marlton Technologies, Inc., its wholly-owned subsidiaries and majority owned subsidiary (the "Company"), All intercompany accounts and transactions have been eliminated. In the opinion of the Company's management, all adjustments (consisting of only normal recurring accruals) have been made which are necessary to present fairly the financial condition as of June 30, 1995 and the results of operations and cash flows for the six month periods ended June 30, 1995 and 1994, respectively. The December 31, 1994 condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. 2. Inventory: Inventory, as of the respective dates, consist of the following:
June 30, 1995 December 31, 1994 Raw Materials $ 397,517 $ 590,627 Work In Process 1,447,371 1,684,639 ----------- ----------- $1,844,888 $2,275,266 ========== ==========
3. Gain From Insurance Settlement During November 1993 the Company experienced a fire at its Melbourne, Florida location and during July 1994, a severe storm damaged portions of the Company's Philadelphia, Pennsylvania location. Both losses were covered by insurance. Total insurance benefits were $1,400,000. The Company recognized a gain of $250,000 from settlement of the claims during the first quarter of 1994. -6- 4. Income Taxes: The components of the provision for income taxes for the respective six month periods ended June 30, were as follows:
1995 1994 ---- ---- Currently payable: Federal $24,000 $13,000 State 36,000 27,000 -------- -------- 60,000 40,000 Deferred: Federal 95,000 220,000 -------- -------- $155,000 $260,000 ======== ========
The significant component of the deferred income tax provisions in 1995 and 1994 was the utilization of the Company's net operating loss carryforward. The difference between the provisions for income taxes computed at the federal statutory rate of 34% and that reported for financial statement purposes is a result of state and local income taxes and goodwill amortization. 5. Income per Common Share: Income per common share is based on the weighted average number of common shares outstanding during the period, adjusted for common equivalent shares when the effect is not antidilutive. Income per share of common stock, assuming full dilution, is equal to primary earnings per share for reported periods. -7- ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS General Overview On August 7, 1990, Marlton Technologies, Inc. (the "Company") acquired the current business of Sparks Exhibits Corp. ("Sparks"). Through this acquisition, the Company's core business became the custom design, manufacture and sale of sophisticated trade show exhibits, displays, signage and graphics for clients in industry, government, consumer electronics, athletic goods, healthcare, telecommunications and other specialized fields. During the fourth quarter of 1990, Sparks purchased certain assets, principally customer lists, from DCA, Inc., a custom trade exhibit business. Additionally, Sparks formed a portable exhibits group, which distributes affiliated and non-affiliated manufacturers' portable exhibit products, in an effort to expand its market to include both high-end (custom exhibits) and lower-end (portable exhibits) products. During July 1991, a wholly-owned subsidiary of Sparks, Sparks Exhibits, Inc. ("Exhibits") acquired assets from two unrelated custom exhibit businesses in suburban Atlanta, Georgia. During 1992 the Company, through two newly-formed wholly-owned subsidiaries, Sparks Exhibits, Ltd. ("Limited") and Sparks Exhibits Incorporated ("Incorporated"), acquired assets, respectively, from a custom and portable exhibit manufacturing business in suburban San Diego, California and a custom exhibit business in Melbourne, Florida. During July 1993, the Company and an unrelated portable exhibit manufacturer, Abex Display Systems, Inc. ("ADSI"), entered into an agreement to organize a new corporation, Expose Display Systems, Inc. ("EDSI") to manufacture and market the Company's proprietary panelized portable exhibit - Expose - through ADSI's worldwide distribution network. The benefits of management's aggressive growth plan, since the August 1990 acquisition of Sparks, has resulted in the dramatic expansion of the Company's client base, the development of new business groups for expansion of its products and services, and the extension into major geographic markets of the United States and internationally. Management believes the acquisitions and the continuing development of the new business groups will position the Company to increase its revenue base through the continued offering of expanded products and services to a larger customer network. -8- RESULTS OF OPERATIONS Three months ended June 30, 1995 as compared with three months ended June 30, 1994 Sales Second quarter 1995 revenues of $7.712 million, the highest quarterly revenues in post-reorganization Company history, exceeded second quarter 1994 revenues of $6.015 million by approximately 28%. The increase of $1.7 million in second quarter 1995 revenues, as compared with the same period during 1994, is attributed to significant revenue increases from the museum/productions group, the international group, and the San Diego, California location. As indicated in the previously filed 10QSB for the first quarter 1995, the museum/productions group and the international group experienced a 56% decrease in first quarter 1995 revenues as compared with first quarter 1994 revenues. Accordingly, the decrease was, in fact, a timing issue, evidenced by the $1.2 million increase in second quarter 1995 museum/productions group and international group revenues over the related quarter during 1994. The 1994 investment by the Company in new, experienced account executives with existing bases of custom exhibit clients in the San Diego location created significantly higher second quarter 1995 revenues as compared with second quarter 1994 revenues. As these account executives continue to develop their client base, the Company anticipates a consistent revenue flow to assist in stabilizing the San Diego location. Operating Profits The Company experienced a 60% increase in operating profits during the second quarter of 1995 as compared with the same period during 1994. This increase occurred due to higher sales levels during the second quarter of 1995 and the gross profits generated by those additional revenues. While the gross profit percentage dropped 1.4% for the comparative quarter in 1995 as compared with 1994, operating profits increased both as a percentage of sales and in real dollars. The increase in operating profits is due to reduction of selling and administrative costs, as a percentage of sales, during the second quarter of 1995. The decrease in the gross profit percentage is predominantly attributable to the higher sales volume of museum/production work, traditionally bid at lower gross profit margins, due to the competitive nature of this type of work. Additionally, the significant revenue increase from the San Diego facility was mainly in service categories which do not generate the higher margins of the manufactured sales category. As indicated in prior reports, the Company requires a consistent stream of sales volume from all four manufacturing facilities to create higher operating efficiencies and absorption of those facilities fixed overhead costs. To that end, the Company significantly relies upon sales volume generated from its museum/production sales group, international sales group and transferred work from the Philadelphia facility to contribute to the operating efficiencies in all manufacturing locations. -9- Second quarter 1995 operating profits related to the Expose' product more than doubled when compared with the second quarter of 1994. The increased revenues assisted in the absorption of increased fixed overhead, selling and general and administrative expenses. While second quarter 1995 revenues were sufficient to offset these expense increases, future revenues to support the added costs cannot be guaranteed. Direct costs of producing the Expose' panelized system, manufactured within ADSI's Los Angeles facility, continued to decline during the second quarter of 1995 as previously externally-purchased materials are now produced in-house. During the first quarter of 1995, EDSI invested approximately $75,000 in equipment to internally-produce the major component of the Expose' panelized system at a cost reduction of approximately 50%. The impact of this new capability was reflected in marginally higher gross profit levels during the second quarter of 1995 with additional benefits expected during the last six months of 1995. During the first two quarters of 1995 the portable sales group increased sales support costs to meet the demand from repeat customer sales as well as new client demands for customized exhibits utilizing standard portable exhibit components. Management believes the short-term cost increase will contribute to long-term sales growth. The effect of increased overhead costs within the portable sales group was to reduce that group's 1995 second quarter operating profits as compared with the same period during 1994. Other Income (Expense) Other expense decreased by $22,000 during the second quarter 1995 as compared with the second quarter of 1994. This decrease is primarily attributed to a decrease in interest expense, as long-term debt is retired, and an increase in interest income. Income Taxes The provision for income taxes, as a percentage of income before taxes, decreased to 30% as compared with 40% during 1994. This reduction is due to the release of valuation allowances based on management's current evaluation of the future utilization of the Company's net operating loss carryforward. See Note 4 to the consolidated financial statements. Net Income Net income more than doubled from $61,926 ($.015 per share) to $136,219 ($.035 per share) during the respective second quarter of 1994 as compared with the similar period during 1995. This increase is predominantly attributable to the higher second quarter 1995 operating profits as more fully described above. Backlog The Company's backlog of orders at June 30, 1995 and June 30, 1994 remained relatively constant, at $3.0 million, as the Company enters the third quarter, its historically slowest quarter of the year. -10- Six months ended June 30, 1995 as compared with six months ended June 30, 1994 Sales In the first six months of 1995, revenues of approximately $15.1 million, the highest semi-annual revenues in post-reorganization Company history, exceeded 1994 comparable period revenues of approximately $13.1 million by 15%. The increase in 1995's first six months revenues, when compared with the same period during 1994, is due to a general increase in sales to both new and existing clients. This increase in sales during 1995 is particularly attributable to the approximate doubling of revenues within the San Diego location during that period as compared with the same period during 1994, a 75% increase in museum/productions group revenues during 1995 as compared to 1994, and, a 37% increase in the international sales group's initial six months of 1995 revenues compared with the same period during 1994. While the Company's Atlanta and Florida facilities increased revenues by approximately $1 million during the first six months of 1995 as compared with the first six months of 1994, this increase was offset by the Philadelphia location's shortfall in 1995 revenues as compared with 1994 revenues during the same period. This decrease, however, is partially a result of work transferred from the Philadelphia location to the Atlanta and Florida facilities. The portables sales group and EDSI experienced a combined 9% sales increase during the first six months of 1995 as compared with the same period during 1994. Management anticipates flat third quarter 1995 revenues as compared with the same period during 1994. As previously stated, management anticipates continued sales growth from these two groups during the fourth quarter of 1995 and beyond. Operating Profits The Company experienced a 21% increase in operating profits during the first six months of 1995 compared to the similar period during 1994. The gross profit percentage remained relatively constant during the comparative periods of 1995 and 1994, 29.2% and 29.4%, respectively. The increase in operating profits during the first six months of 1995 predominantly stems from gross profits generated by the additional sales which were recorded during the period, less related selling expenses, and incremental selling costs incurred as part of hiring new, experienced account executives with existing client bases. Operating profits related to the Expose' product for the first six months of 1995 significantly increased when compared with the same period during 1994. The increased revenues assisted in the absorption of fixed overhead selling and general and administrative expenses. While revenues for the first six months of 1995 were sufficient to offset these expense increases, future revenues to support the added costs cannot be guaranteed. During the first six months of 1995, the portable sales group increased sales support costs to meet the demand of repeat customer sales as well as new client demands for customized exhibits utilizing standard portable exhibit components. Management believes the short-term cost increase will contribute to long-term sales growth, which may negatively impact 1995 annualized operating profits, as they did during the initial six months of 1995. The effect of increased overhead costs within the portable sales group was to significantly reduce that group's 1995 first six month operating profits as compared with the same period during 1994. -11- Other Income (Expense) Other income decreased by approximately $217,000 during the first six months of 1995 as compared with the first six months of 1994. This decrease is predominantly attributed to the $250,000 gain the Company recorded during the first quarter of 1994 in connection with an insurance settlement for claims arising from the November 1993 fire in the Company's Melbourne, Florida facility. See Note 3 to the consolidated financial statements. Interest income during the first six months of 1994 is net of principal declines for cash and cash equivalent investments in certain U.S. government and preferred stock funds. Interest income during the similar period in 1995 did not include any principal declines. Accordingly, interest income during the first six months of 1995 was $23,000 higher when compared to the similar period during 1994. Interest expense decreased during the 1995 period when compared to 1994 due to a reduction of long-term debt. Income Taxes The provision for income taxes, as a percentage before taxes, decreased to 30% as compared with 40% during 1994. This reduction is due to the release of valuation allowances based on management's current evaluation of the future utilization of the Company's net operating loss carryforward. See Note 4 to the consolidated financial statements. Net Income Net income decreased from $384,517 ($.098 per share) to $367,057 ($.093 per share) during the respective first six months of 1994 as compared with the similar period during 1995. This decrease, however, is predominantly attributable to the 1994 gain from replacement value insurance of $250,000 ($150,000 net of income taxes). Exclusive of the 1994 insurance gain net of income taxes, the Company's first six months of 1994 income was approximately $234,517 ($.060 per share) as compared with $367,057 ($.093 per share) during the first six months of 1995. LIQUIDITY AND CAPITAL RESOURCES During the six month period ended June 30, 1995, the Company decreased its cash reserves by $521,953, from $1,469,175 to $947,222. As of June 30, 1995, with the Company heading into its slowest quarter of the year, inventory and customer advance payments to the Company decreased by approximately $900,000, with accounts receivable increasing, marginally, by $75,000. The Company utilized the cash generated from the reduction in inventory and advance balances to partially reduce its accounts payable and accrued expense balances. Exclusive of the current portion of long-term debt, the Company was able to reduce its current liability balances by more than $1.65 million for the six months ended June 30, 1995. This significant decrease in current liabilities helped improve the Company's June 30, 1995 current ratio to 1.6 to 1 as compared with 1.4 to 1 as of December 31, 1994, a 15% improvement. -12- During the first six month period of 1995, the Company expended approximately $500,000 for capital assets, including $125,000 for machinery and equipment, $115,000 in leasehold improvements, $100,000 for data processing equipment, $80,000 for rental assets with the balance paid for other assets. During the first six month period of 1995 the Company temporarily borrowed up to $519,000 of its $1.25 million credit facility. All borrowings were repaid by the Company as of June 30, 1995. Outlook The first six months of 1995 produced record sales levels due to increased revenues from the three newest manufacturing facilities. The increase in revenues from the museum/production group, as well as from the international group, augment the existing customer base sales, providing a diversification of sales volume throughout the four custom exhibit facilities in Philadelphia, Atlanta, San Diego and Florida. As demonstrated during the first six months of 1995, this diversification of sales volume significantly enhances the Company's operating profits. Management anticipates sales and operating results to decline during the historically slow third quarter, due to a reduced number of business to business trade shows within client industries during the period. Sales and results for the balance of the year are dependent upon certain projects, currently being designed and proposed, to be secured or lost late in the third quarter and early in the fourth quarter. Management perseveres in seeking qualified sales executives to contribute additional sales volume, continues its investment in the museum/productions, international and portable sales groups while consistently prioritizing the growth and development of the Expose' panelized portable exhibit product, continually seeking new methods to reduce the direct manufacturing costs. Additionally, the management of Marlton Technologies strives to increase shareholder value by assisting the Sparks companies to achieve their growth objectives in addition to actively pursuing acquisition opportunities related to the trade show exhibit industry. -13- PART II. OTHER INFORMATION Responses to Items one through six are omitted since these items are either inapplicable or response thereto would be negative. SIGNATURE In accordance with the requirements of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MARLTON TECHNOLOGIES, INC. /s/ Robert B. Ginsburg ----------------------------------- Robert B. Ginsburg President and Chief Executive Officer /s/ Edmond D. Costantini, Jr. ----------------------------------- Edmond D. Costantini, Jr. Chief Financial Officer Dated: August 11, 1995 -14- EX-27 2 FINANCIAL DATA SCHEDULE
5 0000096988 MARLTON TECHNOLOGIES, INC 6-MOS DEC-31-1995 JAN-01-1995 JUN-30-1995 947,222 0 4,397,819 135,859 1,844,888 7,855,582 4,797,266 2,401,100 14,807,153 4,920,263 0 0 0 20,536,496 (11,134,075) 14,807,153 15,094,043 15,094,043 14,541,615 14,541,615 0 0 68,066 522,057 155,000 367,057 0 0 0 367,057 0.093 0.093
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