Burke Mills, Inc.
191 Sterling Street, N.W.
Valdese, North Carolina 28690
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
Pursuant to the SEC letter dated November 30, 1999, RE: Burke Mills, Inc., File
No. 0-5680, and further to the requirements of the Securities Exchange Act of
1934, we are transmitting herewith an amendment to Form 10-Q for period ending
4/3/99.
Sincerely,
Burke Mills, Inc.
/s Thomas I. Nail
Thomas I. Nail, Vice President, Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED APRIL 3, 1999
[ ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from
_________________ to _________________
Commission File No. 0-5680
BURKE MILLS, INC.
(Exact name of registrant as specified in its charter)
(I.R.S. Employer Identification No.) 56-0506342
State or other jurisdiction of incorporation or organization:
North Carolina
191 Sterling Street, N.W.
Valdese, North Carolina 28690
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
828 874-6341
The undersigned registrant hereby amends Part I, Item 1 - Financial Statements,
of its Quarterly Report on Form 10-Q for the quarter ended April 3, 1999 as set
forth below, amending Note 13 of Notes to Condensed Financial Statements.
SIGNATURES
----------
Pursuant to the requirements of Section 13 or 15(d) 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.
BURKE MILLS, INC.
(Registrant)
December 23, 1999 By: Charles P. McCamy /s
Date: ______________________ ________________________
Charles P. McCamy
(President)
December 23, 1999 By: Thomas I. Nail /s
Date: ______________________ _________________________
Thomas I. Nail
(Vice President Finance)
(Principal Accounting Officer)
(Principal Financial Officer)
NOTE 13 - INVESTMENT IN AFFILIATE AND RELATED PARTY TRANSACTIONS
- ----------------------------------------------------------------
The company owns 49.8% of Fytek, S.A. de C.V. (Fytek), a Mexican corporation.
The company accounts for the ownership using the equity method. During the first
quarter, the Company had purchases from Fytek of $342,000 compared to $404,000
in 1998.
At April 3, 1999, Fytek owed the Company $130,000 for leased equipment which
was paid for in April 1999.
Financial information for Fytek is as follows:
STATEMENT OF INCOME
(In thousands of U.S. dollars)
(Unaudited)
1st Quarter
-----------
1999 1998
---- ----
Net Sales $1,496 $2,068
Gross Profit 130 231
Income from continuing
operations 86 233
Income before taxes 86 233
Provision for income tax 109 124
------- -------
Net Income (Loss) $ (23) $ 108
======= =======
BALANCE SHEETS
(In thousands of U.S. dollars)
March 31,
1999 December 31,
(Unaudited) 1998
----------- -----------
ASSETS
Current assets $3,561 $3,217
Non-current assets 71 55
--------- ----------
Total Assets $3,632 $3,272
========== ==========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities $2,939 $2,461
Non-current liabilities 0 0
---------- ----------
Total Liabilities $2,939 $2,461
Shareholders equity $ 693 $ 811
--------- ---------
Total Liabilities & Shareholders' Equity $3,632 $3,272
======== ========