-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HHHSQ5aw2SS7O8BbmQDPRjCOng02WEg+k4Z8kD3VlJHSY4i4DgrW6HG+WPcUC8/r ZxTJh9ZC7tPSsSzPoNpllQ== 0000931731-98-000091.txt : 19980406 0000931731-98-000091.hdr.sgml : 19980406 ACCESSION NUMBER: 0000931731-98-000091 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980403 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERIT MEDICAL SYSTEMS INC CENTRAL INDEX KEY: 0000856982 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 870447695 STATE OF INCORPORATION: UT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 000-18592 FILM NUMBER: 98587309 BUSINESS ADDRESS: STREET 1: 1600 WEST MERIT PARK WAY CITY: SOUTH JORDAN STATE: UT ZIP: 84095 BUSINESS PHONE: 8012531600 MAIL ADDRESS: STREET 1: 1600 WEST MERIT PARKWAY CITY: SOUTH JORDAN STATE: UT ZIP: 84095 10-K/A 1 AMENDMENT TO ANNUAL REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A |X| Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 1997 or | | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. MERIT MEDICAL SYSTEMS, INC. --------------------------- (Exact name of registrant as specified in its charter) Utah 0-18592 87-0447695 ---- ------- ---------- (State or other jurisdiction (Commission File No.) (IRS Employer of incorporation) Identification No.) 1600 West Merit Parkway South Jordan, Utah 84095 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (801) 253-1600 Securities registered pursuant to Section 12(b) of the Act: None ---- Securities registered pursuant to Section 12(g) of the Act: Title of Class -------------- Common Stock, No Par Value 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 | | The aggregate market value of the Common Stock held by non-affiliates of the Registrant, based upon the closing sale price of the Common Stock on the NASDAQ National Market System on March 26, 1998, was approximately $48,114,229 Shares of Common Stock held by each officer and director and by each person who may be deemed to be an affiliate have been excluded. As of March 26, 1998 the Registrant had 7,402,189 shares of Common Stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE The Registrant's definitive Proxy Statement relating to the Annual Meeting of Shareholders scheduled for May 27, 1998 is incorporated by reference in Part III of this report. Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. |X| 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, on March 29, 1998. MERIT MEDICAL SYSTEMS, INC. By:_____________________________________ Fred P. Lampropoulos, President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities indicated on March 29,1998. Signature Capacity in Which Signed --------- ------------------------ ___________________________________ President, Chief Executive Officer Fred P. Lampropoulos and Director ___________________________________ Chief Financial Officer, Secretary, Kent W. Stanger Treasurer and Director (Principal financial and accounting officer) ___________________________________ Director Richard W. Edelman ___________________________________ Rex C. Bean Director ___________________________________ James J. Ellis Director ___________________________________ Michael E. Stillabower Director 14 MERIT MEDICAL SYSTEMS, INC. AND SUBSIDIARIES - -------------------------------------------- Selected Financial Data
Year Ended December 31, - --------------------------------------------------------------------------------------------------------------------- 1997 1996 1995 1994 1993 - --------------------------------------------------------------------------------------------------------------------- Operating Data: Sales $ 60,579,011 $ 50,455,766 $ 42,587,284 $ 33,324,245 $ 25,431,180 Cost of sales 37,766,116 29,319,617 24,987,998 18,999,015 13,653,379 Gross profit 22,812,895 21,136,149 17,599,286 14,325,230 11,777,801 Selling, general, and administrative expenses 15,726,651 14,311,049 12,808,805 10,232,215 7,836,018 Research and development expenses 4,446,795 2,533,171 2,330,324 2,069,882 1,306,782 Income from operations 2,639,449 4,291,929 2,460,157 2,023,133 2,635,001 Other income (expense) (863,933) (661,777) (459,462) (29,868) 4,860 Income before income tax expense 1,775,516 3,630,152 2,000,695 1,993,265 2,639,861 Income tax expense 944,981 1,277,431 700,418 775,453 799,650 Minority interest in (income) loss of subsidiary (33,003) (190,113) (79,040) 33,035 Net income 797,532 2,162,608 1,221,237 1,250,847 1,840,211 Net income per share $ .11 $ .31 $ .18 $ .19 $ .28 Weighted average shares outstanding 7,369,668 7,051,911 6,851,164 6,678,041 6,679,758 Balance Sheet Data: Working capital $ 14,737,971 $ 12,761,211 $ 9,518,971 $ 9,032,899 $ 10,226,533 Total assets 45,269,678 41,718,553 34,503,858 27,024,267 20,479,384 Long-term debt 3,913,686 4,822,126 1,778,953 827,592 841,921 Stockholders' equity $ 25,802,149 $ 22,487,123 $ 19,264,525 $ 17,537,029 $ 15,705,152
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