SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q (Amendment #1)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 - Amendment #1
For the quarterly period of April 30, 1995
Commission file number 0-4769
DOLLAR GENERAL CORPORATION
(Exact name of registrant as specified in its charter)
KENTUCKY 61-0502302
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification no.)
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104 Woodmont Blvd.
Suite 500
Nashville, Tennessee 37205
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code: (615) 783-2000
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 number of shares of common stock outstanding at April 30, 1995 was 67,942,306.
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of April 30, 1995, January 31, 1995 and April 30, 1994
(in thousands)
ASSETS April 30, January 31, April 30,
1995 1995 1994
Current Assets:
Cash and cash equivalents $ 41,145 $ 33,045 $ 30,282
Merchandise inventories 419,951 356,111 304,242
Deferred income taxes 12,277 11,785 9,893
Other current assets 13,533 9,212 8,465
Income Taxes 0 0 679
Total current assets 486,906 410,153 353,561
Property & Equipment, at cost 196,700 187,360 132,492
Less: Accumulated depreciation 67,129 62,108 50,935
129,571 125,252 81,557
Other Assets 5,535 5,463 4,684
$622,012 $540,868 $439,802
LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
Current portion of
long-term debt $ 1,442 $ 1,441 $ 1,303
Short-term borrowings 96,487 29,600 27,000
Accounts payable 122,772 111,675 101,060
Accrued expenses 53,486 61,037 46,547
Income Taxes 6,001 5,210 0
Total current liabilities 280,188 208,963 175,910
Long-term debt 3,857 4,767 4,801
Deferred income taxes 3,382 3,382 2,563
Shareholders' equity:
Preferred stock 858 858 0
Common stock 33,971 33,971 27,248
Additional paid-in capital 286,047 283,323 73,861
Retained earnings 215,160 207,436 158,031
536,056 525,588 259,140
Less treasury stock 201,451 201,832 2,612
334,585 323,756 256,528
$622,012 $540,868 $439,802
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The accompanying notes are an integral part of this statement.
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
for the three months ended April 30, 1995 and 1994
(in thousands)
(unaudited)
April 30, 1995 April 30, 1994
Cash flows from operating activities:
Net income $ 11,576 $ 9,514
Adjustments to reconcile new income
to net cash provided by operating
activities:
Depreciation and amortization 5,405 3,684
Deferred income taxes ( 492) ( 229)
Change in operating assets and
liabilities:
Merchandise inventories ( 63,840) ( 44,200)
Accounts payable, trade 11,090 20,022
Accrued expenses ( 7,551) ( 1,359)
Income taxes 791 884
Other ( 3,194) 138
Net cash provided (used) by
operating activities ( 46,215) ( 11,546)
Cash flows used in investing activities:
Purchase of property & equipment ( 10,922) ( 7,922)
Cash flows provided by financing activities:
Issuance of short-term borrowings 67,117 17,000
Repayments of short-term borrowings ( 230) ( 8,000)
Repayments of long-term debt ( 909) ( 909)
Payments of cash dividends ( 3,846) ( 2,648)
Proceeds from exercise of stock
options 1,612 4,780
Tax benefits from exercise of stock
options 1,463 4,162
Net cash provided by financing
activities 65,237 14,385
Net increase (decrease) in cash
and equivalents 8,100 ( 5,083)
Cash and cash equivalents at
beginning of year 33,045 35,365
Cash and cash equivalents at
end of period $ 41,145 $ 30,282
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The accompanying notes are an integral part of this statement.
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.
DOLLAR GENERAL CORPORATION
(Registrant)
Date: June 13, 1995 By:/s/: C. Kent Garner
C. Kent Garner, Vice
President,Treasurer and
Chief Financial Officer
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