Item 2. Properties
Shaw's executive offices are located in Dalton, Georgia. The principal facilities operated by Shaw and described below are owned except as otherwise noted:
Approximate Principal Products Location Sq. Ft. or Functions
Dalton, Georgia 46,700 Executive headquarters Dalton, Georgia 145,000 Administrative offices Dalton, Georgia 114,600 Administrative offices Dalton, Georgia 229,500 Administrative offices and distribution Dalton, Georgia 309,800 Administrative offices and distribution Dalton, Georgia 291,000 Administrative offices and distribution Dalton, Georgia 235,500 Administrative offices and distribution Dalton, Georgia 372,700 Administrative offices and distribution Cartersville, Georgia 138,900 Administrative offices and warehousing Dalton, Georgia 601,000 Distribution Dalton, Georgia 400,000 Distribution Dalton, Georgia 303,200 Distribution Dalton, Georgia 371,600 Distribution Ringgold, Georgia 649,100 Distribution Ringgold, Georgia 224,200 Distribution Andalusia, Alabama 1,119,000 Yarn extrusion Thomson, Georgia 258,300 Yarn extrusion Valley Head, Alabama(1) 160,000 Yarn processing Bainbridge, Georgia 450,000 Yarn processing Blue Ridge, Georgia(4) 75,100 Yarn processing Calhoun, Georgia 262,100 Yarn processing Chatsworth, Georgia(2) 36,800 Yarn processing Chatsworth, Georgia 117,200 Yarn processing Lafayette, Georgia 131,900 Yarn processing Milledgeville, Georgia 78,600 Yarn processing Rome, Georgia 40,600 Yarn processing Decatur, Tennessee(1) 151,000 Yarn processing Eton, Georgia 423,000 Yarn processing and tufting Stevenson, Alabama 441,000 Yarn spinning Chatsworth, Georgia 188,300 Yarn spinning Dallas, Georgia 138,500 Yarn spinning Dalton, Georgia 241,600 Yarn spinning Ellijay, Georgia 157,100 Yarn spinning Fitzgerald, Georgia 250,000 Yarn spinning Newnan, Georgia 289,000 Yarn spinning
Approximate Principal Products Location Sq. Ft. or Functions
Tifton, Georgia 142,500 Yarn spinning Toccoa, Georgia 139,000 Yarn spinning Trenton, Georgia 192,300 Yarn spinning Trenton, SC 169,500 Yarn spinning South Pittsburg, TN 187,900 Yarn spinning Cartersville, Georgia 317,600 Tufting, dyeing & coating Cartersville, Georgia 171,800 Tufting, dyeing & coating Dalton, Georgia 650,240 Tufting, dyeing & coating Dalton, Georgia 461,000 Tufting, dyeing & coating Dalton, Georgia 326,000 Tufting, dyeing & coating Dalton, Georgia 354,900 Tufting, dyeing & coating Dalton, Georgia 579,600 Tufting, dyeing & coating Dalton, Georgia 376,200 Tufting & printing Ringgold, Georgia 201,000 Tufting Dalton, Georgia 150,000 Dyeing Dalton, Georgia 267,000 Dyeing and coating Dalton, Georgia 231,300 Printing, foaming & warehousing Cartersville, Georgia(3) 192,000 Carpet tile manufacturing Cartersville, Georgia 255,200 Contract carpet manufacturing Charlotte, N.C. 112,400 Backing manufacturing Ringgold, Georgia(5) 248,000 Finishing and rug manufacturing Winchester, Tennessee 320,600 Carpet manufacturing Chickamauga, Georgia(2) 219,500 Sample manufacturing and warehousing Dalton, Georgia 197,680 Sample manufacturing and warehousing Dalton, Georgia(2) 103,100 Sample manufacturing and warehousing Dalton, Georgia 147,200 Sample manufacturing and warehousing Dalton, Georgia (2) 154,800 Sample manufacturing and warehousing Dalton, Georgia (2) 45,200 Carpet store Dalton, Georgia 55,000 Design Center Dalton, Georgia 85,000 Research and Development Center Bradford, England 746,000 Tufting, weaving, coating, distribution and
Approximate Principal Products Location Sq. Ft. or Functions
administrative offices. Gwent, Wales 265,000 Yarn extrusion, yarn processing, tufting, dyeing and coating Victoria, Australia 1,425,000 Yarn extrusion, yarn processing, tufting, dyeing, coating, distribution and administrative offices Monterrey, Mexico 288,000 Yarn processing, tufting, dyeing, coating, distribution and adminstrative offices.
(1) Leased from Industrial Development Boards.
(2) Subject to a lease expiring in calendar year 1994.
(3) Subject to a lease expiring in calendar year 1995.
(4) Subject to a lease expiring in calendar year 1997.
(5) Subject to a lease expiring in calendar year 2007.
Shaw maintains leased warehouses and customer service facilities in or near Dallas; Los Angeles (2); Seattle; San Francisco; Denver; Chicago; Minneapolis; Boston; and, Cranbury, New Jersey. Each leased warehouse facility includes a sales showroom. The Company also maintains redistribution centers in Orlando, Florida; Columbus, Ohio; Kernersville, North Carolina; Mechanicsburg, Pennsylvania; St. Louis, Missouri; and, Fredericksburg, Virginia. Management of the Company believes all of its properties are suitable and adequate for its current operations and are substantially utilized.
Item 3.
Item 3. Legal Proceedings
From time to time the Company is subject to claims and suits arising in the course of its business. In April 1993, the Company became a defendant in certain litigation alleging personal injury resulting from personal exposure to volatile organic compounds found in carpet produced by the Company. The complaints seek injunctive relief and unspecified money damage on all claims. The Company has denied any liability. In May 1993, the Company became a defendant in certain litigation alleging violation of both federal and state laws relating to unfair competition. The complaint seeks an injunction regarding the unfair competition claims and money damages. The Company has denied any liability. The Company believes that is has meritorious defenses in these suits and that the litigation will not have a material adverse effect on the Company's financial condition or results of operations. The Company will vigorously defend these suits. In June 1994, the Company and several other carpet manufacturers received grand jury subpoenas from the Antitrust Division of the United States Department of Justice relating to an investigation of the industry. The Company believes that once this investigation is completed it will not have a material adverse effect on the Company's financial condition or results of operations.
At the end of fiscal year 1994, there were no other pending legal proceedings to which the Company was a party or to which any of its property was subject which, in the opinion of management, were likely to have a material adverse effect on the Company's business, financial condition or results of operations.
Item 4.
Item 4. Submission of Matters to Vote of Security Holders
Not applicable.
Item 4(A). Executive Officers of the Registrant
Officer Name Age Since Position
J. C. Shaw 64 1967 Chairman of the Board of Directors
Robert E. Shaw 63 1967 President and Chief Executive Officer and Director
William C. Lusk, Jr. 59 1971 Senior Vice President and Treasurer and Director
W. Norris Little 63 1978 Senior Vice President, Operations and Director
Vance D. Bell 43 1983 Vice President, Marketing
Joseph M. DeVittorio 59 1992 Vice President, Corporate Planning
Bennie M. Laughter 43 1986 Vice President, Secretary and General Counsel
Carl P. Rollins 51 1991 Vice President
Douglas H. Hoskins 59 1978 Controller
Messrs. J. C. Shaw and Robert E. Shaw are brothers. There are no other family relationships among any of the executive officers of the Company.
Officers of the Company are elected annually by the Board of Directors. All of the executive officers of the Company except for Mr. Devittorio and Mr. Rollins have served as executive officers for the Company for more than the past five years.
Mr. DeVittorio joined the Company in October 1992, as a Vice President. Prior to joining the Company, Mr. DeVittorio was Senior Vice President and General Manager of Allied Signal's Fibers Division.
Mr. Rollins joined the Company in June, 1991, as a Vice President. Prior to June, 1991, Mr. Rollins had been engaged in the private practice of law with the firm of McCamy, Phillips, Tuggle, Rollins & Fordham, in Dalton, Georgia.
PART II
Item 5.
Item 5. Market for the Registrant's Common Stock and Related Shareholder Matters
The high and low sales prices for the Company's common stock as reported by the New York Stock Exchange and the amount of dividends paid by quarter for the last two fiscal years are set forth on page 2 of Exhibit 13.
Reference is made to Note 2 of Notes to Consolidated Financial Statements on page 13 of Exhibit 13 for information concerning restrictions on the payment of cash dividends.
At September 1, 1994, there were 2,184 holders of record of the Company's common stock.
Item 6.
Item 6. Selected Financial Data
This information is set forth on pages 3-4 of the Exhibit 13 under the caption "Ten Year Financial Review."
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
This information is set forth on pages 5-6 of Exhibit 13 to this report.
Item 8.
Item 8. Financial Statements and Supplementary Data
This information is set forth on pages 7-21 of Exhibit 13.
Item 9.
Item 9. Disagreements on Accounting and Financial Disclosure
None.
PART III Item 10.
Item 10. Directors and Executive Officers of the Registrant
Information concerning directors is incorporated by reference to "Election of Class of Directors" on pages 3-6 of the Proxy Statement for the 1994 Annual Meeting of Shareholders. Reference is also made to Item 4(A) of Part I of this report, "Executive Officers of the Registrant," which information is incorporated herein.
Item 11.
Item 11. Executive Compensation
This information is incorporated by reference to "Executive Compensation" on pages 6-11 of the Proxy Statement for the 1994 Annual Meeting of Shareholders.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management
This information is incorporated by reference to "Voting Rights and Principal Shareholders" and "Election of Directors" on pages 1- 2 and 3-6 respectively, of the Proxy Statement for the 1994 Annual Meeting of Shareholders.
PART IV Item 13.
Item 13. Certain Relationships and Related Transactions
This information is incorporated by reference to "Certain Relationships" on page 5 of the Proxy Statement for the 1994 Annual Meeting of Shareholders.
Item 14.
Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K
(a) The following documents are filed as part of this report:
1. Financial Statements
Exhibit 13, a copy of which is filed with this Form 10-K, contains the balance sheets as of July 2, 1994, and July 3, 1993, the related statements of income, shareholders' investment and cash flows for each of the three years in the period ended July 2, 1994, and the related report of Arthur Andersen LLP. These financial statements and the report of Arthur Andersen LLP. are incorporated herein by reference. The financial statements, incorporated by reference, include the following:
- Balance Sheets -- July 2, 1994, and July 3, 1993.
- Statements of Income and Statements of Shareholders' Investment for the years ended July 2, 1994, July 3, 1993, and June 27, 1992.
- Statements of Cash Flows for the years ended July 2, 1994, July 3, 1993, and June 27, 1992.
- Notes to Financial Statements -- July 2, 1994, July 3, 1993, and June 27, 1992.
2. Financial Statement Schedules
- Report of Independent Public Accountants as to Schedules:
Schedule Number
V Property, Plant and Equipment for the Years Ended July 2, 1994, July 3, 1993, and June 27, 1992.
VI Accumulated Depreciation and Amortization of Property, Plant and Equipment for the Years Ended July 2, 1994, July 3, 1993, and June 27, 1992.
VIII Valuation and Qualifying Accounts for the Years Ended July 2, 1994, July 3, 1993, and June 27, 1992.
IX Aggregate Short-term Borrowings for the Years Ended July 2, 1994, July 3, 1993, and June 27, 1992.
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Shareholders of Shaw Industries, Inc.:
We have audited, in accordance with generally accepted auditing standards, the financial statements of Shaw Industries, Inc. included in this annual report to shareholders on Form 10-K and have issued our report thereon dated August 8, 1994. Our audits were made for the purpose of forming an opinion on those statements taken as a whole. Schedules V, VI, VIII, and IX are the responsibility of the Company's management and are presented for purposes of complying with the Securities and Exchange Commission's rules and are not part of the basic financial statements. These schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, fairly state, in all material respects the financial data required to be set forth therein in relation to the basic financial statements taken as a whole.
Arthur Andersen LLP
Atlanta, Georgia August 8, 1994
SCHEDULE V SHAW INDUSTRIES, INC.
PROPERTY, PLANT, AND EQUIPMENT
FOR THE YEARS ENDED JULY 2, 1994, JULY 3, 1993, AND JUNE 27, 1992
Balance at Beginning Additions, Balance at of Year at Cost Retirements End of Year
YEAR ENDED JUNE 27, 1992 (a): Land and land improvements $ 12,470,000 $ 2,521,000 $ 0 $ 14,991,000 Buildings 112,697,000 50,260,000 (50,000) 162,907,000 Machinery and equipment 444,972,000 77,541,000 (22,000) 522,491,000 Leasehold improvements 2,030,000 1,774,000 0 3,804,000 Construction in progress 28,424,000 (13,860,000) 0 14,564,000
$ 600,593,000 $ 118,236,000 $ (72,000)$ 718,757,000
YEAR ENDED JULY 3, 1993 (b): Land and land improvements $ 14,991,000 $ 2,497,000 $ (4,000)$ 17,484,000 Buildings 162,907,000 30,185,000 0 193,092,000 Machinery and equipment 522,491,000 119,133,000 (544,000) 641,080,000 Leasehold improvements 3,804,000 88,000 0 3,892,000 Construction in progress 14,564,000 5,314,000 0 19,878,000
$ 718,757,000 $ 157,217,000 $ (548,000)$ 875,426,000
YEAR ENDED JULY 2, 1994: Land and land improvements $ 17,484,000 $ 10,771,000 $ (59,000)$ 28,196,000 Buildings 193,092,000 34,489,000 (521,000) 227,060,000 Machinery and equipment 641,080,000 110,412,000 (7,584,000) 743,908,000 Leasehold improvements 3,892,000 951,000 (11,000) 4,832,000 Construction in progress 19,878,000 94,745,000 (19,000) 114,604,000
$ 875,426,000 $ 251,368,000 $ (8,194,000)$ 1,118,600,000
(a) 1992 additions are primarily the result of the acquisition of Salem Carpet Mills, Inc.
(b) 1993 additions are primarily the result of the acquisition of certain of the carpet fiber manufacturing facilities of Amoco Fabrics and Fibers Company.
/TABLE
SCHEDULE VI SHAW INDUSTRIES, INC.
ACCUMULATED DEPRECIATION AND AMORTIZATION
PROPERTY, PLANT, AND EQUIPMENT
FOR THE YEARS ENDED JULY 2, 1994, JULY 3, 1993, AND JUNE 27, 1992
Additions Balance at Charged to Beginning Costs and Balance at of Year Expenses Retirements End of Year
YEAR ENDED JUNE 27, 1992: Land and land improvements $ 1,323,000 $ 182,000 $ 0 $ 1,505,000 Buildings 21,394,000 4,481,000 (7,000) 25,868,000 Machinery and equipment 242,872,000 58,415,000 (9,000) 301,278,000 Leasehold improvements 539,000 89,000 0 628,000
$ 266,128,000 $ 63,167,000 $ (16,000)$ 329,279,000
YEAR ENDED JULY 3, 1993: Land and land improvements $ 1,505,000 $ 257,000 $ 0 $ 1,762,000 Buildings 25,868,000 5,693,000 0 31,561,000 Machinery and equipment 301,278,000 66,870,000 (281,000) 367,867,000 Leasehold improvements 628,000 170,000 0 798,000
$ 329,279,000 $ 72,990,000 $ (281,000)$ 401,988,000
YEAR ENDED JULY 2, 1994: Land and land improvements $ 1,762,000 $ 366,000 $ 0 $ 2,128,000 Buildings 31,561,000 7,127,000 0 38,688,000 Machinery and equipment 367,867,000 76,337,000 (5,038,000) 439,166,000 Leasehold improvements 798,000 256,000 (11,000) 1,043,000
$ 401,988,000 $ 84,086,000 $ (5,049,000)$ 481,025,000
/TABLE
SCHEDULE VIII SHAW INDUSTRIES, INC.
VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED JULY 2, 1994, JULY 3, 1993, AND JUNE 27, 1992
Additions Balance at Charged to Beginning Costs and Balance at of Year Expenses Deductions End of Year
YEAR ENDED JUNE 27, 1992: Allowance for doubtful accounts and discounts $ 5,941,000 $ 58,804,000 $ 55,461,000 $ 9,284,000
YEAR ENDED JULY 3, 1993: Allowance for doubtful accounts and discounts $ 9,284,000 $ 91,418,000 $ 86,360,000 $ 14,342,000
YEAR ENDED JULY 2, 1994: Allowance for doubtful accounts and discounts $ 14,342,000 $ 107,179,000 $ 103,066,000 $ 18,455,000
/TABLE
SCHEDULE IX SHAW INDUSTRIES, INC.
AGGREGATE SHORT-TERM BORROWINGS
FOR THE YEARS ENDED JULY 2, 1994, JULY 3, 1993, AND JUNE 27, 1992
Average Weighted Weighted Maximum Amount Average Average Amount Outstanding Interest Balance at Interest Outstanding During Rate During End of Year Rate During Year Year (a) Year (b)
YEAR ENDED JUNE 27, 1992 $ 45,000,000 4.43% $ 45,000,000 $ 22,917,000 4.9%
YEAR ENDED JULY 3, 1993 $ 20,000,000 3.63% $ 170,000,000 $ 72,500,000 4.2%
YEAR ENDED JULY 2, 1994 $ 135,000,000 3.60% $ 135,000,000 $ 53,333,000 3.6%
(a) The average amount outstanding during the year was computed by dividing the total of month-end outstanding principal balances by the number of months that balances were outstanding at month-end.
(b) The weighted average interest rate during the year was computed by dividing the actual interest expenses related to short-term borrowings by average short-term debt outstanding.
/TABLE
Number Description
3. Exhibits incorporated by reference or filed with this report.
3(a) Amended and Restated Articles of Incorporation. [Incorporated herein by reference to Exhibit 3(a) to Registrant's Registration Statement filed with the Commission on December 28, 1993, (File No. 33-51719).]
3(b) Bylaws. [Incorporated herein by reference to Exhibit 3(b) to Registrant's Registration Statement filed with the Commission on December 28, 1993, (File No. 33-51719).]
4(a) Specimen form of Common Stock Certificate. [Incorporated herein by reference to Exhibit 2 to Registrant's Report on Form 8-A filed with the Securities and Exchange Commission on May 12, 1989 (File No. 1-6853).]
4(b) Articles II, V and VI of the Restated Articles of Incorporation, as amended, contained in Exhibit 3(a), and Articles Two and Seven and Section 8.1 of the Bylaws of Registrant, contained in Exhibit 3(b), and Statement of Designation, Preferences and Rights of Series A Participating Preferred Stock, filed as Exhibit 3(c), are incorporated herein by reference.
4(c) Rights Agreement dated as of April 10, 1989, between Registrant and Citizens and Southern Trust Company (Georgia), N.A., as Rights Agent. [Incorporated herein by reference to Exhibit 1 to Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 5, 1989 (File No. 1-6853).]
10(a) Reserved
10(b)* Deferred Compensation Plan and form of Deferred Compensation Agreement of Registrant as adopted in April, 1980.
10(c) Reserved
10(d) Reserved
10(e) Reserved
10(f) Reserved
10(g) Loan Agreement dated February 1, 1991, between Registrant and The Citizens and Southern National Bank, regarding a $200,000,000 revolving credit facility. [Incorporated herein by reference to Exhibit 10(g) to Registrant's Report on Form 10-K for the fiscal year ended June 29, 1991 (File No. 1- 6853).]
10(h)* 1987 Incentive Stock Option Plan of the Registrant. [Incorporated herein by reference to Exhibit A to Registrant's 1987 Proxy Statement, dated September 22, 1987 (File No. 1-6853).]
10(i) Reserved
10(j)* 1989 Discounted Stock Option Plan of the Registrant. [Incorporated herein by reference to Exhibit A to Registrant's 1989 Proxy Statement, dated September 21, 1989 (File No. 1-6853).]
10(k)* 1992 Incentive Stock Option Plan of the Registrant. [Incorporated herein by reference to Exhibit A to Registrant's 1992 Proxy Statement, dated September 18, 1992 (File No.1- 6853).]
11 Computation of Earnings per Share for the fiscal years ended July 2, 1994, July 3, 1993 and June 27, 1992.
13 Items Incorporated by Reference From the 1994 Annual Report to Shareholders.
21 List of Subsidiaries.
23 Consent of independent public accountants.
27 Financial Data Schedule.
* Compensatory plan or management contract required to be filed as an exhibit to Item 14(c) of Form 10-K.
(b) No reports on Form 8-K were filed during the last quarter of fiscal 1994.
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.
SHAW INDUSTRIES, INC.
Date: September 28, 1994 By: /S/ROBERT E. SHAW Robert E. Shaw 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 and on the dates indicated.
Date: September 28, 1994 /S/ ROBERT E. SHAW Robert E. Shaw President, Chief Executive Officer and Director
Date: September 28, 1994 /S/ J. C. SHAW J. C. Shaw Chairman of the Board of Directors
Date: September 28, 1994 /S/ WILLIAM C. LUSK, JR. William C. Lusk, Jr. Sr. VP, Treasurer and Director (Principal Financial and Accounting Officer)
Date: September 28, 1994 /S/ W. NORRIS LITTLE W. Norris Little Senior VP, Operations and Director
Date: September 28, 1994 /S/ ROBERT R. HARLIN Robert R. Harlin Director
Date: September 28, 1994 /S/ THOMAS G. COUSINS Thomas G. Cousins Director
Date: September 28, 1994 /S/ S. TUCKER GRIGG S.Tucker Grigg Director
Date: September 28, 1994 /S/ CLIFFORD M. KIRTLAND, Jr. Clifford M. Kirtland, Jr. Director
Date: September 28, 1994 /S/ J. HICKS LANIER J. Hicks Lanier Director
Date: September 28, 1994 /S/ R. JULIAN McCAMY R. Julian McCamy Director
Exhibit Page Number Description Number
3(a) Amended and Restated Articles of Incorporation. [Incorporated herein by reference to Exhibit 3(a) to Registrant's Registration Statement filed with the Commission on December 28, 1993, (File No. 33-51719).]
3(b) Bylaws. [Incorporated herein by reference to Exhibit 3(b) to Registrant's Registration Statement filed with the Commission on December 28, 1993, (File No. 33-51719).]
4(a) Specimen form of Common Stock Certificate. [Incorporated herein by reference to Exhibit 2 to Registrant's Report on Form 8-A filed with the Securities and Exchange Commission on May 12, 1989 (File No. 1-6853).]
4(b) Articles II, V and VI of the Restated Articles of Incorporation, as amended, contained in Exhibit 3(a), and Articles Two and Seven and Section 8.1 of the Bylaws of Registrant, contained in Exhibit 3(b), and Statement of Designation, Preferences and Rights of Series A Participating Preferred Stock, filed as Exhibit 3(c), are incorporated herein by reference.
4(c) Rights Agreement dated as of April 10, 1989, between Registrant and Citizens and Southern Trust Company (Georgia), N.A., as Rights Agent. [Incorporated herein by reference to Exhibit 1 to Registrant's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 5, 1989 (File No. 1-6853).]
10(a) Reserved
10(b)* Deferred Compensation Plan and form of Deferred Compensation Agreement of Registrant as adopted in April, 1980.
10(c) Reserved
10(d) Reserved
10(e) Reserved
10(f) Reserved
10(g) Loan Agreement dated February 1, 1991, between Registrant and The Citizens and Southern National Bank, regarding a $200,000,000 revolving credit facility. [Incorporated herein by reference to Exhibit 10(g) to Registrant's Report on Form 10-K for the fiscal year ended June 29, 1991 (File No. 1- 6853).]
10(h)* 1987 Incentive Stock Option Plan of the Registrant. [Incorporated herein by reference to Exhibit A to Registrant's 1987 Proxy Statement, dated September 22, 1987 (File No. 1-6853).]
10(i) Reserved
10(j)* 1989 Discounted Stock Option Plan of the Registrant. [Incorporated herein by reference to Exhibit A to Registrant's 1989 Proxy Statement, dated September 21, 1989 (File No. 1-6853).]
10(k)* 1992 Incentive Stock Option Plan of the Registrant. [Incorporated herein by reference to Exhibit A to Registrant's 1992 Proxy Statement, dated September 18, 1992 (File No.1- 6853).]
11 Computation of Earnings per Share for the fiscal years ended July 2, 1994, July 3, 1993 and June 27, 1992.
13 Items Incorporated by Reference From the 1994 Annual Report to Shareholders.
21 List of Subsidiaries.
23 Consent of independent public accountants.
27 Financial Data Schedule.
* Compensatory plan or management contract required to be filed as an exhibit to Item 14(c) of Form 10-K.
(b) No reports on Form 8-K were filed during the last quarter of fiscal 1994.