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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
TO
FORM 10-Q
ON
FORM 10Q/A
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 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 000-23225
TRANSCOASTAL MARINE SERVICES, INC.
(Exact Name of registrant as specified in its charter)
DELAWARE 72-1353528
(State Or Other Jurisdiction of (I.R.S. Employer
Incorporation of Organization) Identification No.)
3535 BRIARPARK, SUITE 210, HOUSTON, TEXAS 77042
(Address of principal executive offices)
(Zip Code)
(713) 784-7429
(Registrant's telephone number, including area code)
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 [ ] No [ X ]*
*The Registrant became subject to the reporting requirements of Section 13
of the Securities Act of 1934 on October 29, 1997.
The number of shares of Common Stock of the registrant, par value $.001
per share, outstanding at December 12, 1997 was 9,148,441.
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The Company hereby amends and restates the following portion of the
Company's Quarterly Report on Form 10-Q for the period ended September 30,
1997:
1. "Part I - Financial Information, Item 1 - Financial Statements" is
hereby amended to correct a misprinted number for Other Assets in the Historical
September 30, 1997 column in the Combined Balance Sheet from "90" to "890" as
shown below:
TRANSCOASTAL MARINE SERVICES, INC.
COMBINED BALANCE SHEETS
(In Thousands, Except Share Data)
Historical Pro Forma
---------------------------- -------------
December 31, September 30, September 30,
1996 1997 1997
-------- -------- --------
(Unaudited) (Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 1,117 $ 1,113 $ 7,660
Accounts receivables, net 1,418 5,864 15,372
Costs and estimated earnings in excess of billings on
uncompleted contracts -- 2,440 4,064
Inventory 243 460 460
Available-for-sale securities, at fair value 1,603 128 128
Other 861 644 1,638
-------- -------- --------
Total current assets 5,242 10,649 29,322
PROPERTY AND EQUIPMENT, net 2,956 4,048 63,816
GOODWILL -- -- 66,465
OTHER 958 890 3,599
-------- -------- --------
Total assets $ 9,156 $ 15,587 $163,202
======== ======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable and accrued liabilities $ 760 $ 3,356 $ 15,220
Notes payable and current maturities of long-term debt 229 1,399 2,460
Payable to founding stockholders 450 -- --
Billings in excess of costs and estimated earnings on
uncompleted contracts -- 54 270
-------- -------- --------
Total current liabilities 1,439 809 17,950
-------- -------- --------
LONG-TERM DEBT -- -- 12,700
DEFERRED INCOME TAXES -- -- 17,283
-------- -------- --------
Total liabilities 1,439 4,809 47,933
-------- -------- --------
STOCKHOLDERS' EQUITY:
Common stock 1 1 9
Additional paid-in capital 122 122 106,540
Retained earnings 7,275 10,619 8,684
Net unrealized gain on available-for-sale securities 319 36 36
-------- -------- --------
Total stockholders' equity 7,717 10,778 115,269
-------- -------- --------
Total liabilities and stockholders' equity $ 9,156 $ 15,587 $163,202
======== ======== ========
The accompanying notes are an integral part of these financial statements.
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SIGNATURE
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.
TransCoastal Marine Services, Inc.
Dated: December 29, 1997
By: /s/ JOHNNIE W. DOMINGUE
--------------------------------
Johnnie W. Domingue
Authorized Officer
and Principal Financial
Officer
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