SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q/A-2
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 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 0-20506
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BKC SEMICONDUCTORS INCORPORATED
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 04-2883532
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
6 LAKE STREET, LAWRENCE, MASSACHUSETTS 01841
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(Address of principal executive offices) (Zip Code)
(978) 681-0392
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(Registrant's telephone number, including area code)
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(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_____
There were 1,276,411 shares of common stock outstanding at February 9, 1998.
NOTE E - EARNINGS (LOSS) PER SHARE
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Basic net income (loss) per share has been computed in
accordance with Statement of Financial Accounting Standards 128, Earnings Per
Share, (SFAS 128) using the weighted average number of common shares
outstanding. The provisions and disclosure requirements of SFAS 128 were
required to be adopted for interim and annual periods ending after December 15,
1997, with restatement of EPS for prior periods.
Diluted net income (loss) per share gives effect to all
dilutive potential common shares that were outstanding during the period. The
Company had a net loss during the quarter ended December 31, 1996; therefore,
none of the options outstanding at period end were included in the net loss per
share calculation for the quarter ended December 31, 1996, since they were
anti-dilutive. Shares reserved for outstanding warrants have also been excluded
from the net income (loss) per share calculation because their effect is
anti-dilutive.
The following table sets forth the basic and diluted net
income (loss) per share computation for the three months ended December 31,1997
and 1996:
1997 1996
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Net Income (Loss) $188,139 ($73,084)
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BASIC
Weighted average number of shares outstanding 1,276,411 1,276,411
Net Income (Loss) Per Share $0.15 ($0.06)
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DILUTED
Weighted average number of shares outstanding 1,276,411 1,276,411
Additional weighted average shares from assumed
exercise of diluted stock options, net of shares
to be repurchased with exercise proceeds 128,755 0
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Weighted average number of shares outstanding used
in the diluted net income (loss) per share
calculation 1,405,166 1,276,411
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Net Income (Loss) Per Share $0.13 ($0.06)
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The dilutive effect of the Company's convertible preferred
stock has not been included in the above calculation because there are no such
shares outstnading during the respective periods.
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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.
BKC Semiconductors Incorporated
Date: April 2, 1998 /s/ James R. Shiring
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By: James R. Shiring, President and Chief
Executive Officer, Director
Date: April 2, 1998 /s/ Bryan A. Schmidt
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Bryan A. Schmidt, Controller, Treasurer and
Chief Financial Officer
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