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SEC Filings
10-Q
ARGON ST, INC. filed this Form 10-Q on 06/13/1995
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                     DAEDALUS ENTERPRISES, INC. AND SUBSIDIARIES
                        CONSOLIDATED CONDENSED BALANCE SHEETS

                                            April 30,        July 31, 
                                              1995             1994
                                           (Unaudited)
ASSETS  
Current Assets  
  Cash and cash equivalents                 $ 79,938        $  163,158 
  Accounts receivable, less allowance
    of $2,500                                140,500           661,427 
  Unbilled accounts receivable - Note C      192,816           113,128 
  Inventories - Note D                     1,373,510         1,111,637 
  Income tax receivable                            0           223,946 
  Deferred tax asset                         398,212            92,000 
  Other current assets                        18,248            30,464 
                                          ----------        ----------
                  TOTAL CURRENT ASSETS     2,203,224         2,395,760 
Property and Equipment - Note E  
  Land                                       177,131           177,131 
  Building                                 1,432,661         1,432,661 
  Machinery and equipment                  1,065,645         1,190,708 
  Special equipment                          465,620           218,805 
                                          ----------         --------- 
                                           3,141,057         3,019,305 
  Less accumulated depreciation           (1,688,005)       (1,573,470) 
                                          -----------       -----------
                                           1,453,052         1,445,835 
Other Assets                                 130,867           199,639
                                          -----------       ----------- 
                                         $ 3,787,143       $ 4,041,234 
                                          ==========        ==========
LIABILITIES AND STOCKHOLDERS' EQUITY  
Current Liabilities 
  Note payable to bank - Note G          $   882,000       $   125,000 
  Accounts payable                           145,590            75,943 
  Accrued contract costs                      22,950            87,850 
  Compensation and related accounts          152,785           151,252 
  Customer deposits                                0           156,099 
  Accrued commission                           8,127            69,058 
  Reserve for product warranties               5,002            90,425 
  Other accrued liabilities                   56,515            41,183 
  Current portion of long-term debt          290,661            36,857
                                           ---------           ------- 
                 TOTAL CURRENT LIABILITIES 1,563,630           833,667 
Long-term Debt                                     0           278,422 
Deferred Income Taxes                         99,000            99,000 
Stockholders' Equity  
  Common stock, $.01 par value 
    Authorized--2,000,000 shares 
    Issued and outstanding-- 514,913 shares 
          July 31, 1994--511,533 shares)       5,149             5,115 
  Additional paid-in capital               1,113,131         1,104,145 
  Retained earnings                        1,006,233         1,720,885
                                           ---------         ---------  
                                           2,124,513         2,830,145 
                                           ---------         ---------
                                         $ 3,787,143       $ 4,041,234 
                                         ===========       ===========
The accompanying notes are an integral part of these condensed financial
statements


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