FORM 10-Q/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 to QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 1996 Commission File Number: 0-23238 DEFLECTA-SHIELD CORPORATION (Exact name of registrant as specified in its charter) Delaware 42-1411117 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 1800 North 9th Street, Indianola, 50125 Iowa (Zip Code) (Address of principal executive offices) (515) 961-6100 (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 [ X ] No [ ] Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: As of November 14, 1996, 4,800,000 shares of the registrant's Common Stock were outstanding. PART I Item 1. Financial Statements The Condensed Consolidated Statements of Operations for the Three Months ended September 30, 1995 and 1996 are hereby amended in their entirety to read as follows: DEFLECTA-SHIELD CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except per share amounts) Three Months Ended September 30, 1995 1996 Net sales . . . . . . . . . . . . . $16,007 $18,465 Cost of sales . . . . . . . . . . . 11,167 12,035 ------- ------- Gross profit . . . . . . . . . . . 4,840 6,430 Operating expenses: Selling . . . . . . . . . . . . . 2,552 2,386 General and administrative . . . 1,593 1,707 Amortization of other assets . . 131 113 ------- ------- Income from operations . . . . . . 564 2,224 Interest expense . . . . . . . . . 407 250 ------- ------- Income before income taxes . . . . 157 1,974 Income tax expense . . . . . . . . 61 729 ------- ------- Net income . . . . . . . . . . . . $ 96 $ 1,245 ======= ======== Net income per share . . . . . . . $ .02 $ .26 ======= ======== Weighted average common shares outstanding . . . . . . . . 4,800 4,800 The accompanying notes are an integral part of these statements. 2 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. Date: November 14, 1996 DEFLECTA-SHIELD CORPORATION By: /s/ RONALD C. FOX -------------------- Ronald C. Fox, Chief Financial Officer (Duly authorized officer and Principal Financial and Accounting Officer) 3