FORM 10-/A
Amendment No. 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
FOR QUARTER ENDED MARCH 31, 1998 COMMSSION FILE NO. 1-13648
BALCHEM CORPORATION
MARYLAND 13-2578432
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(STATE OF OTHER JURISDICTION OF (I.R.S EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NUMBER)
PO BOX 175 SLATE HILL, NY 10973
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANTS TELEPHONE NUMBER, INCLUDING AREA CODE: (914) 355-5300
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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 [ ]
As of May 12, 1998, Registrant had 3,203,274 shares of its Common Stock, $.06
2/3 par value, outstanding.
Balchem Corporation's March 31, 1998 Form 10-Q is hereby amended to correct the
date disclosed on the Consolidated Statements of Operations from the "Three
Months Ended December 31, 1997" to the "Three Months Ended March 31, 1997".
BALCHEM CORPORATION
Consolidated Statements of Operations
(In thousands, except per share data)
Unaudited
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Three Months Ended
March 31,
1998 1997
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Net sales .......................................... $7,735 $6,835
Cost of sales ...................................... 4,405 3,765
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Gross margin ....................................... 3,330 3,070
Operating expenses:
Selling expenses ............................. 852 814
Research and development expenses ............ 284 255
General and administrative expenses .......... 882 807
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Total operating expenses ................. 2,018 1,876
Income from operations ............................. 1,312 1,194
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Other expenses - net:
Interest expense ............................. 28 43
Other expense - net .......................... 13 22
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Total other expenses - net ............... 41 65
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Earnings before income taxes ....................... 1,271 1,129
Income taxes ................................. 440 412
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Net earnings ....................................... $ 831 $ 717
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Basic net earnings per common share (Notes 3 and 4) $ 0.17 $ 0.15
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Diluted net earnings per common share (Notes 3 and 4) $ 0.17 $ 0.15
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See accompanying notes to consolidated financial statements.
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.
BALCHEM CORPORATION
By: /s/ Dino A. Rossi
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Dino A. Rossi, President,
Chief Executive Officer
Date: May 21, 1998